world with the national security world. >> emily wilkins, thank you. >>> coming up here on "worldwidehange," the issues bubbling up around china and the risk of deflation taking shape >>> we have the top trending stories. no winners in the powerball jackpot and tomorrow's jackpot is soaring to $1 billion the jackpot was last hit of april 19th >>> luxury department store harrods will open the first private member club in shanghai. the facility will have a gordon ramsay restaurant and terrace for members. >>> back in hollywood, julia boorstin caught up with danny trejo to get his take on a.i. and streaming. melissa lee described it as one of the most colorful interviews to grace the cnbc air waves. we are back after this >> i'm worried about regular intelligence now that means they can use our image or our for whatever. you know what i mean now residuals have gone down wait a minute. give us a piece of that pie, too. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second

emily wilkins has more emily? >> this is an issue that lawmakers in d.c. are not letting go of, whether or not they should be allowed to trade stocks currently, lawmakers can, so long as they follow reporting requirements and they often do not. and law members have come under scrutiny in recent years in trades that appeared to use insider information. josh hawley and kirsten gillibrand would not only band members of congress from owning stocks but family members and executive branch officials from any trading. the ban picked up, inside congress and out a new poll for public con consu consultation, approved a ban for stock trading for members of congress and unlike so many others today, there's no divide among party lines. 86% of republicans and 88% of democrats have agreed with the ban. it's not clear if this bipartisan bill will have more success than path it raterations but it shows this battle is not over yet >> emily wilkins, from the capital. >>> most americans are in favor of some restrictions of trading by congressmen and women and other members of

the news alert this morning, lawmakers in washington taking a fresh look at big tech our emily wilkinske today. emily, good morning. >> good morning, frank well, the riff between the two are widening to the point it's bridging the divide between republicans and democrats. senator elizabeth warren and republican lindsey graham are introducing a new bill today that would create a five-member commission to oversee big tech companies. the regulatory group would review potential mergers and limit how personal data is used in targeted advertisements and would require that certain platforms be owned by u.s. citizens or have a u.s. subsidy among a number of other things that this committee could do warren told cnbc, many companies have exploited consumers' data and threatened national security and stomping out competition in the economy. this afternoon a house committee will vote on whether to hold mark zuckerberg in contempt of congress it's a move that could ultimately lead to some legal repercussions but unlikely we'll see him in handcuffs usually when lawmakers hold someone in contempt of

two senators set to introduce a new bill that would ban stock trading by lawmakers emily wilkins is following emily? >> republican senator josh hawley and kyrsten jill jill brand do not agree on a lot. while there are laws on the books that currently ban members from using insider information to buying stocks, gillibrand and hawley say they don't go far enough and it is reason enough for a ban. gillibrand said in a statement that it was, quote, critical that the american people know that their elected leaders are putting the public first, not looking for ways to line their own pockets. now this isn't the first bill that would ban trades by lawmakers and you can see some of the others here the biggest debates right now are over who the ban would apply to and whether officials can use a blind trust. scott, the top leaders in both the house and the senate have been open to the idea of a ban, but whether it will become enough of a priority to get it done remains to be seen. >> do you have any feeling from those you've been talking to as to whether there's finally critical mass. i saw what you cit

with emily wilkins emily? >> reporter: good afternoon. lawmakers are escalating war on big tech today with a proposed agency meant to rein in 34e9 meta, amazon google and other major tech corporation senates elizabeth warn er and lindsey graham overseeing tech companies. regulatory group reviewing possible mergers and limiting ads. the bill is full of "unpopular ideas and consumers don't want to ban going's maps or break up amazon prime whether under new commission or a current agency." one bright spot, though, for big tech chair jim jordan canceled the vote holding mark zuckerberg in contempt of congress republicans currently investigating whether the white house pressured meta to remove several facebook posts jordan initially accused him of withholding information from the committee. additional documents seemingly satisfied the chairman's concerns at least for now. notable that lawmakers even threatening to hold zuckerberg in contempt is really noteworthy such a move usually reserved for politicians. not ceos of major companies. >>> it

own thing eventually, i'm sure if they produce legislation, we will see that come together >> emily wilkinsime on "worldwide exchange." welcome to cnbc. >> thank you, frank. >>> coming up on "worldwide exchange," a bullish outlook on china. our next guest says don't believe the hype on the optimistic oloutok on the prospects for the country. more on "worldwide exchange" after this break 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. >>> welcome back to "worldwide exchange." time for the morning call sheet where we look at the upgrades and downgrades jpmorgan chase downgrading at&t moving from overweight to neutral. tutting the price target from $22 to $17 a share jpm citing growth drivers for the outlook. look at shares of at&t down 1.5%. ubs upgrading the microsoft price target moving from neutral to buy and from $345 to $400 per share. ubs citing stabilization and cloud spending and a.i. as near-term catal

emily wilkins joins with us more hi, emily. >> reporter: hi, tyler lawmakers working on ai legislationetting advice as you mentioned a 26-year-old billionaire who is urging congress to move quickly when it comes to developing ai in the military alexander wang is the ceo of scale ai, a company he founded to accurately label and classify data ai models use he's got the ear of top senators on the intelligence committee and he testified in front of the house panel this morning on ai's role in the military >> i don't think we should rest easy on that because military implementations of ai will be incredibly important we need to make sure the u.s. is economically dominant but also has military leadership as well when it comes to artificial intelligence >> reporter: congressman mike gallagher, who chairs the ai sub committee said he hopes lawmakers can start passing smaller and bipartisan bills on ai by the end of next year >> i don't think we have too much time to waste just given the massive -- just the scope and scale of investment and innovation in this space >> reporter: tyler, of all th

our emily wilkins has more on that for us. >> i don't know how the people in the capitol are calling the magnificent because the rift between digg tech and capitol hill is widening to the point it's bridging the divide between republicans and democrats. senator elizabeth warren and lindsey graham are introducing a new bill today to create a five-member commission to oversee tech companies. the regular coring sprue potential mergers, and limit how personal data can be used in targeted advertisements. we are told in this statement many companies have exploited consumers data, invaded you this property, and that they have stomped on competition and the economy. is the banks the only one that is voting on a house this afternoon whether it will hold mark zuckerberg in contempt of congress. a letter to const victor accused of medico of making down , but the white house. they will fly. . the committee has received more than 53 pouches of video to the kennedys while someone is holy in contempt of congress, it will have medium questions, most mercury killed five politicians ceos. . this let's

next to eileen, emily wilkins national press club vice president washington correspondent at cnbc. to emily is scott schneider director of the office of public affairs as well as counselor to chair gensler and a guest of the chairs. next to scott is lydia sec financial regulations reporter of bloomberg. next to lydia is andrea white house economics correspondent at reuters. then we have emily senior vice president american investments counsel. and at the end we have stephanie allen director of speechwriting and chair gensler's office and a guest of the chair. [applause] this is not my first rodeo gary gensler told reporters following an appearance before the senate banking committee last fall. he had just been grilled by republicans and some democrats on a range of issues, especially agency proposals that address climate reporting and environmental social and governance or esg investing but indeed chair gensler is familiar with the w challenges of being a regulator under fire in on hill.l and elsewhere around washington. he served asy chair of the commodity futures trading commissi

emily wilkins is in our d.c. newsroom with more on that hot story. emily? >> very spicy story, tyler sriracha hot sauce has been increasingly to find, and they're blaming a drought in northern mexico for a limited supply of chiles and sauce shortages. their sauce will be in short supply for the foreseeable future alvin jimenez from soul spice told me it was a struggle to find enough sriracha to make its most popular sauce >> we noticed the impact for us in april of this year. the prices started to go up, as well as the supply became really scarce, and it was hard to find. >> so, soul spice decided to make its own creamy sriracha sauce from scratch tyler, contessa, i have here some, and i'm going to hold on to this and i just checked amazon and a single 17-ounce bottle of sriracha is going for 50 bucks >> in that case, it seems like a good -- talk about a way to invest stop thinking what i'm thinking at the same time i'm thinking it >> i'm thinking the words right out of your mouth. >> there we go >> emily, thank you. hold on to that. that bottle may be wort

discussions are being had, and there is a focus on trying to get something and the timeline is months >> emily wilkinsn washington >>> don't miss a special cnbc pro talk we have a roundtable of experts on all things ai related, happening at 2:00 p.m. eastern >>> coming up, trouble brewing at the magic kingdom we'll speak to the analyst behind that call >>> and take a look at the dow heat map today we hang on to a 144 point game unh and cisco lagging. we're back aft ts.erhi i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com ahhh! icy hot pro starts working instantly.

emily wilkins has the latest. >> chip companies looking to build facilities in the west got a huge winnight after the senate approved an expedited permitting process. conyers allocated $52 billion last year to make more semiconductors in america, but the new money came with the catch, companies would also need to undergo an in depth environmental review process that could delay construction for more than two years. senator mark kelly, who state of arizona will be home to new chip plans, said the proposal cut through red tape to prevent delays while requiring companies to follow clean air and water laws. to avoid the longer permitting process, companies must break ground by next winter or have received a federal loan rather than a grant or have less than 10% of the project covered by federal funds. the bill also allows the commerce secretary to offer specific companies exemptions. the measure passed as part of a larger defense policy bill, but it still has hurdles to clear. the house past their own defense policy bill last week, and now the two sides will need to negotiate a single bill

emily wilkins has more >> reporter: when the speaker of the house brings together a bipartisan grouplawmakers to discuss anything, that is a clear priority this wasn't a meeting for show or to win points lawmakers who attended the meeting said it was more of a brainstorming session on how to tackle ai and get in front of the issue. >> what i'm trying to do is you watch the individuals brought together, those are what republicans and democrats who i watched inside these briefings care about so we have devised a plan that we would work together in a bipartisan way to bring a foundation legislation that can build on itself. >> the purpose in this early stages right now, membership isn't fully finalized, and specific bills haven't been discussed. but lawmakers who were in the initial meeting passed bills that congress won't need to overturn the more they learn about ai he's made clear that this effort in the house is separate from the senate where chuck schumer is also crafting a bipartisan bill >> the senate, no disrespect to schumer, but i don't think a guy who uses a flip phone has th

emily wilkins is joining us with more emily, good morning. >> good morning, becky top lawmakers dealing with intelligence and national security in china and want to know more on a.i., they are turning to a 26-year-old billionaire alex wang. democrats and republicans say he is an influential voice in d.c. over a.i he will testify today on the use of a.i. in the battle field. his message is if congress doesn't move quickly, the u.s. will be behind other nations >> we don't want to see the critical technology to other countries around the world it is critical to be leaders and ensure artificial intelligence will adhere to our principles and standards and our values >> wang is urging congress to pass national security bills to further adopt a.i. the bill's future was thrown into jeopardy last week after republicans added an amendment on abortion, but the bill narrowly passed the house an the senate is expected to vote this week. becky. >> emily, what are the odds they get a clean bill to pass or will there be that rider and others attached because a.i. is something you can find common groun

emily wilkins joins us for more. >> reporter: republican lawmakers have rallied against esg for a while biggest changes to proxy advisory congressman big hiezinga told me more transparency and oversight are needed >> what we're really trying to make sure is whether it's a passive fund, they act like a passive fund and asset managers act like passive investors, that there's transparency, that there's really a process that the sec is going through, not just this throw the doors wide open, anybody can do anything that they want >> republicans are expected to vote next week on a pact of bills targeting esg and a number of those bills include proxy advisers the the house committee is facing multiple issues top proxy firms have of course pushed back against these claims -- against claims saying they've become politicized saying it's their clients that ultimately control the investments. >> we'll see the clients can protect their investments when they can actually vote on these things. >> the truth is most retail investors do not vote. >> it's one thing to choose not to vote and it's another f

emily wilkins is joining us with more we still haven't done crypto why not start with crypto? we will do this? we should go >> we are. right now, mccarthy assembled the group of lawmakers trying to lead how to figure out a.i mccarthy brought five democrats and four republicans with a bipartisan effort to brainstorm the new technology >> what i tried to do is watch the individuals i brought together republicans and democrats who i watched inside the briefings care about this and have great knowledge. we devised a plan to work together in a bipartisan way to bring a foundation legislation to build on it sself >> might be is not finalized and specific bills have not been discussed. mccarthy made clear his effort is separate from the senate where chuck schumer is crafting a bipartisan bill. >> no disrespect to schumer. i don't think a guy who uses a flip phone has the best knowledge on a.i >> senators and flip phones are pushing ahead with work. they are planning to hold a briefing on july 26th on the future of a.i. >> things are moving quick, emily. andrew, about six months ago,

warren and lindsey graham introducing a new bill creating a federal agency to regulate big tech and emily wilkinsnow. good morning. >> good morning, andrew. well, lawmakers are escalating their war on big tech today with a proposed agency that would rein in giants like meta, amazon and google as you mentioned lindsey graham, elizabeth warren not two authorities you see working together a lot but introducing a new bill that would create a five-member commission to oversee major tech companies the regulatory group would have wide-ranging powers. among them would include renewing potential mergers and limiting how personal data is used in targeted ads warren told cnbc in a statement that many companies have exploited consumer' data, invaded users' privacy, threatened national security and stomped out competition in the economy but that's not the only bad news for big tech today. a house panel is going to be voting this afternoon on holding mark zuckerberg in contempt of congress it's part of a republican-led investigation on whether facebook removed some content on behalf of the white house. chairma

next, allie wilkins, national vicesp president and correspondt at cnbc. next to emily is scott snyder, director of the office of public affairs as well as counselor to chair gansler and a guest of the chair. next to scott is lydia, financial regulations reporter that bloomberg. next to lydia is andrea, the white house economics correspondent at reuters. then we have emily shall ensure senior vice president american investments council. and at the end we have stephanie allen, director of speechwriting in the office and a guest of the chair. [applause] this is not my first rodeo as gary told reporters following an appearance before the senate banking committee last fall. l he had just been grilled by republican and some democrats on a range of issues especially agency proposals that address climate reporting and environmental, social and governance for investing. the chair is familiar with of the challenges of being a regulator number fire and capitol hill and elsewhere around washington. he served as the chair of the commodity futures trading commission from 2009 to 201