what is our about foxconn you know a little bit because my home state it was right next to minnesota and while there's a lot of. rivalry at this table. wisconsin governor scott walker is trying to first through this deal that is with the taiwanese manufacturer foxconn which makes the i phones in china it's also the company about how one hundred fifty of their workers jump off the top of their building and kill themselves because workers work conditions were so bad in china yeah it's not a good it's not a good company. it was about on their. yeah but i think the factory was in mainland and all that yeah so they don't have a great history of taking care of their workers so what the deal actually proposes about wisconsin because they've already taken the corporate taxes off the table the benefit to them when they say they're going to give them something you know all this ten million to three billion dollars it means that wisconsin pacs taxpayers will give two hundred fifty million dollars in cash per year to foxconn and the great corporation to the corporation in order to create three t

foxconn could build a huge panel factory there. in exchange, the company would get a $3 billion tax break. the state is only half the deal, which was now heads to the senate. foxconn says it will invest $10 billion and will be its first factory in the u.s., eventually hiring up to 13,000 people. the subsidies are controversy during -- controversial. they think it would take 25 years for taxpayers to break even. for more on this story, let bring in our financial correspondent. business happy with us again. the trump administration will probably celebrate this as in a compliment. is this a result -- as an accomplishment. is this a result of the america first policy? >> even if this is an accomplishment made by truck, it is so controversial it is a conflict benefiting from the field. there is some confusion about the number of possibly created jobs. foxconn is saying the plan would create 3000 jobs with the potential to grow with 30,000 new jobs. trump is using the same words. there is simply no guarantee of the deal that foxconn even

miller tagged about it can get behind and that's the immigration of international businesses like foxconn into the united states to build back trees were sweet deals and tax breaks while breaking the backs of u.s. workers and taxpayers you know i've got a little policy advice for mr miller the policy advisor maybe it's time to shine the light of liberty you spoke so highly of on our own country before people like you sell us down the line just to line your driveways and gold now and start watching the hawks. with. the bottom. like you know that i got. well over the watching the hawks i am tyrrel but her and i'm tabitha lalas and joining us. former cabinet mayor and governor of the state of minnesota and host of the upcoming. the world according to jesse on our team america the one the only jesse ventura great to be here they finally got me out of here to. the parent the home base where we have a home base of the political power here at washington and washington as you know and it's been fun coming out of here you know i've been out here putting the show together and working hard on it and

jens, news of the foxconn plant in michigan.e expect similar moves from other manufacturing giants? jens: probably. is not just what is happening in the u.s., this seems to be a global trend. the indian government said they want to so iphones in india, they better have production in a country. -- that country. labor is not the deciding factor anymore so it makes sense to produce iphones or o other products within the united states, where and general labor is more expensive than in china or taiwan. but also the amount of jobs probably will be limited to a certain degree because of all the supply chains for now will probably remain mostly in asia. helena: the dow jones still over 22,000 mark. can we expect that to continue through the trading week? jens: well, we are waiting for some form of a correction for months now, we have crossed a number of record marks lately. the ninth consecutive trading date we closed on a new all-time high. we look forward to this week. news flow will be a big limited. we will not get the big economic

let foxconn, they make the iphones as you know for apple. so many countries are building now in our country. including the auto companies,

but luckily for us foxconn has just announced they're opening their first u.s. plant in wisconsin made in america i was actually means something again rumor has it even the anti-suicide nets around the buildings will be made right here in america. yeah don't have to but the reinforced of a little because of the size of our workers but. now we will tear right through you dig a little suicide yet they don't do nothing to us. so. the name of the name foxconn doesn't really inspire confidence does it it's a combination of outfoxing you and conning you. i honestly i prefer their competitor scam ha ha ha ha ha. i just like their products better. i think what fox conn's american rival really means is that rather than building up worker rights in other countries we have managed to cut our own protections to such a degree that we can now house the worst abuse centers in the world jobs aren't going overseas anymore because workers are exploited just as well right here at home you know we had a dream we did a while back we were like one day maybe id. can work all day just

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by getting foxconn here, that helps us do that.makes wisconsin a magnet for other like kind of jobs and the problem we've had in wisconsin is we've had this brain drain. we've had a lot of young people getting educated here, growing up here and going for opportunities elsewhere. we want to keep them here. we want to keep our sons and our daughters, our kids and our grandkids in wisconsin and i think bringing a sector like this to wisconsin is a long-term solution to helping making sure that people can stay and have great jobs in wisconsin. 13,000 job and $10 billion over 15 years of pa i royroll ain't nothing to sneeze at. that's why i think it's an exceptional deal. by the way, it was going to go to another state if it didn't go to wisconsin then there wouldn't nebraska tax base, whatsoever, was going to go to north carolina, indiana, some other pla place. i'm glad it came to wisconsin. >> president trump recently declared the opioid crisis a national emergency in wisconsin. the figures are tragic. the rate of opioid overdose deat

much more encouraging than a few weeks ago. >>> foxconn making no bet on america.th china morning post says they'll open a facility in michigan focused on autonomous vehicles no details of the investment amount were provided they'll open a $10 billion manufacturing plant in wisconsin. worth noting michigan and wisconsin flipped for president trump in the 2016 election. >>> general motors recalling 800,000 pickup trucks for a steering defect. the problem can potentially cause drivers to lose control of the vehicle. it impacts certain 2014 silverados and gmc pickups >>> workers at nissan plant in mississippi have overwhelmingly rejected a bid to unionize the move a blow to united auto workers union which has never been able to fully organize in the south. the uaw lack of influence in the south reduced bargaining power when detroit automakers lose market share and close plants. >>> now to sports. a mystery chinese investor is interested in buying a stake in manchester united. they were approached to gauge interest in selling out. the family owns 80% of it, sources say

but by bringing foxconn there, it is -- even if you stepped in as a loss leader but you can create a whole ecosystem. not just the suppliers and restaurants and people who supply -- >> other companies >> but truly samsung decides they can show up and apple and everybody and their brother shows up, then i think you can make the argument. but it's more complicated if it's -- >> i thought about this last night too. >> okay. >> i actually came around to some of your line of thinking too. this is good though. we sit and we think about each other's positions and think of reasons why the other person may be right i was thinking last night about it and thinking, okay, i get it. if you're making these incentives, you're getting jobs that wouldn't be here otherwise. that's a good thing. however, you could be disincentivizing other companies will already paying these rates if i'm the the guy that comes in, i'm a manufacturer there and the new guy comes in and doesn't have to pay taxes but gets sweetheart deals on all kinds of money you're throwing my way with things. i might be offended if i've

maria: was it wort worth to get foxconn to wisconsin?lion-dollar investment, on top of that 10 and a half billion dollar payroll for the next years alone the, 10,000 construction jobs to build facilities, series of facilities, a campus here in the state of wisconsin and 22,000 indirected induced jobs, absolutely it's worth it. they will be made in america for the very first time right here in the state of wisconsin and we think it's transformational which is why we are calling this region wiscon valley because it will help not only foxconf but help put wisconsin in the map around the world. maria: lawmakers proposing 50 amendments on the bill. some people are saying, look, sounds great to have up to 13,000 jobs potentially but we don't know that that's going to be the number and you also had to pay up pretty big. do you agree that taxpayers are not going to break even on this until 2042? >> that's why, that's a good message for anybody listening. whether it's 13 jobs or 13,000 jobs in wisconsin, years ago we eliminated all but a fraction

overseas in china, met with the foxconn chairman.i think there is expectation that something is coming here. donald trump could use is good news in michigan because his poll numbers slipped to the low 40s. >> this is the bottom line question. this is why we are are asking because we're interested in the states that swung toward trump and made the difference. the question is, can you keep him? we will talk more about this later. but if this happens, if foxconn comes to michigan with the jobs, you mentioned rick snyder the republican, are folks in michigan going to say hey, this is donald trump delivering? or are they saying this is rick snyder delivering? >> i think he would be more likely to credit the president. our governor slis a lame duck. he will be terminated out in 2018. i wouldn't be surprised to see donald trump if the jobs do come our way. >> a quick break here. on the other side, president trump's nationwide approval rating looks like it's suffering these days. but is his base actually getting stronger and if so, what woul

as i mentioned earlier, foxconn will spend $10 billion in wisconsin and other places. i think the $10 billion will be $30 billion. appleake the iphones for and others, and it is a truly incredible company. we have a lot of things happening that are really great. again, today the stock market hit the highest level than it has ever been, and our country is doing very well. i want to thank you all. tom and david are going to be outside and will speak to you at length about what we are going to do with respect to this aspect of immigration. i think it is going to be very, very important. the biggest change in 50 years. thank you all very much. give us acan you comment on russian sanctions, please? senator cotton: we are excited to introduce version two of the race act, which will change our immigration systems, awarding one million green cards every single year. it will help working-class americans get a pay raise that has not happened in my lifetime, 40 years. if you have a high school diploma or less, your wages if this bill becomes law it will change and willil

foxconn's plan for a wisconsin plant is moving along.proval for the $3 billion in incentives heads to the state's senate today. it passed the state assembly last week. that money was used to secure a $10 billion investment from foxconn. it plans to build a new lcd plant in house speaker paul ryan's district by the year 2020. the $3 billion price tag is causing controversy. foxconn says it will create up to -- up to 13,000 new jobs. that means wisconsin will pay $19,000 per job per year, six times the typical cost per job for a public incentive package. >>> blame the boomers for something else. baby-boomers are retiring at a rapid pace. that might be hurting wage growth. the labor market is tight, unemployment is at a 16-year low. there are a record number of open jobs. that should translate into big wage gains, and it hasn't. a new study finds that's because departing older workers are being replaced by younger, cheaper workers. those who were sidelined during the recession, keeping a lid on wages. right now about 44 million americans ar

. >>> foxconn's plan to build a factory in wisconsin is an exceptional deal according to paul ryan.yan was asked at a town hall last night whether the deal was worth it because wisconsin is giving foxconn $3 billion in ta incentives to build that plan. >> it's in our interests to get ahead of the curve on tomorrow's high-skilled, high-tech manufacturing jobs more jobs are tied to wisconsin per capita than any other state. we always had to stay ahead of the curve. by making sure we're bringing this sector to wisconsin, which will bring other jobs and employers, that's very good for wisconsin's future >> ryan says the tax breaks are contingent on foxconn meeting investment and hiring targets. >>> back to the markets. ray dalio is reducing risk on washington worries the hedge fund manager wrote i'm watching how conflict is being handled as a guide and i'm not encouraged he expressed concern with the trump administration over immigration and trade. we'll hear much more from ray dalio next month when he joins cnbc's delivering alpha. head doito v deliveringalpha.com for more got to be th

foxconn is investing $10 billion in the economy of wisconsin.own in south carolina, we are a right to work state. we've got boeing, mercedes, the biggest bmw plant in the world. we have samsung relocating a plant from mexico to hear. -- to here. we have to be business friendly. we just went through earnings season. the big corporations beat earnings. things are happening in a positive way. i'm not a big trump fan, but he is business friendly and he's trying to enact policy that will attract companies here and encourage companies to stay here to create jobs and have that circle of spending money that creates revenue and helps people in social programs. we have to have money to spend to keep it in united states to help everybody. host: let's take a look at what nancy pelosi tweeted about the economy -- the view of nancy pelosi, tweeting in about the economy as we continue to talk to you come asking you if you're optimistic, pessimistic or not sure. cameron calling in from nevada. what are your thoughts about the economy? issue, on this economy my

foxconn just announced. we have many companies pouring back into the country. i think this will have a huge, positive impact on race relations. you know why? it is jobs. what people want now is jobs. they want good jobs with good pay. and when they have that, you watch how race relations will be. we are spending a lot of money on inner cities. we are fixing the inner cities. we are doing far more than anybody has done with the inner cities. it is a priority for me. and it is a very important. president, are you putting what you're calling the alt-left and the white supremacists on the same moral plane? pres. trump: i am not putting anybody on a moral plane. what i'm saying is they came at it with clubs and it was vicious and horrible and a horrible thing to watch. but there is another side. there was a group on this side, you can call them the left, you have just called them the left, that came violently attacking the other group. so you can see would you want, but that is the way it is. >> [indiscernible] >> you said there was hatred and violence on both sides

>> in michigan, they passed a passage that would apply to companies like foxconn as well.t of a game cities have been playing to make themselves .ore attractive in columbus, they are saying it was not specifically done for foxconn but rather they want to have the incentive available for we arees like that and us between columbus and detroit beyond the $10 billion plan announced in wisconsin last week. david: thank you. i also want to flag a piece looking at how that program will shake out. a columnist based in taiwan. a big interview tomorrow. he sure to tune in at 8:30 a.m. new york time. lloyd blankfein will be with us live. you can catch all of our interviews on the bloomberg including that one with howard marks. tv . you can also find breaking news there and charts as well. this is bloomberg. ♪ . . scarlet: julia: it is 2 p.m. in new york, 11 a.m. in san francisco and 11 p.m. in london. i'm scarlet fu. i'm julia chatterley. welcome to bloomberg markets. scarlet: we are live at bloomberg world headquarters in new york. here are the top stories we're covering from ar

you saw foxconn last week. he is one of the great businessmen of our time, and i think the numbers are going to be $30 million, and he told me he is going to go off the record, $30 billion investment, but he told me off the record, so i promised i would not tell anybody. [laughter] president trump: that is called big business, by the way. you will be big business. you got to start off small, but will be big like that. he started off small. now he is about the biggest. but i wanted to thank foxconn and the group who is spending a generous amount of money in wisconsin and other places. today we are unleashing a new era of american prosperity, perhaps like we have never seen before, and you see it day by day. you do not hear too much from the media, but the media will be forced to cover it pretty soon. they will have no choice. i am inspired to be in the company of such motivated people, as i know what it takes. believe me, i know what it takes. you have the dreamers and innovators who are powering us into the fut

foxconn says it will create up to 13,000 jobs, 13,000 new jobs.out $19,000 per job per year. six times the typical cost per job for a public incentive package. >>> baby-boomers are retiring at a rapid pace. and that could be hurting wage growth. the labor market is tight. unemployment is at a 16-year low. there are a record number of job openings. that should mean there is big wage growth, right, to attract workers. but it doesn't. a new study finds the wage growth is not rising because departing older workers are being replaced by younger, cheaper ones. people who were sidelined during the recession. that keeps a lid on wages. right now about 44 million americans are retired. 44 million. that's up 36% from the year 2000. >> glass half full, glass half empty. there are more jobs. that's a good thing. >> there are. you don't want to blame a whole generation. sorry, mom and dad. >>> thanks for joining us. i'm christine romans. >> i'm dave briggs. president trump with a new u.s. strategy for afghanistan, but is it actually new? "new day," that is new

foxconn will spend $10 billion in wisconsin, and other places. i think the $10 billion will end up being $30 billion. they make the iphones for apple and others. it is a truly incredible company. we have a lot of things happening that are really great, but today the stock market hit the highest level that it has ever been in our country is doing very well. i want to thank you all. tom and david are going to be outside. they will speak to you at length about what we are going to do with respect to this aspect of immigration. i think it will be very, very important. the biggest in 50 years. the biggest change in 50 years. thank you very much. reporter: could you give us a time on russian sanctions, please? >> we are very excited to be introducing version two of the act, which is going to change our legal immigration system. it is going to help working-class americans get a pay raise they have lacked for too long.

as i mentioned, foxconn will spend $10 billion in wisconsin and other places, and i think the $10 billion will end up being $30 billion. they make the iphones for apple and others and it is a truly incredible company. so we have a lot of things happening that are really great, but again, today, the stock market hit the highest level that it has ever been and our country is doing very well. i just want to thank you all. tom and david are going to be outside. they're going speak to you at length about what we're going to do with respect to this aspect of immigration. i think it will be very, very important. it's the biggest change in 50 years. thank you all very much. >> can you give us a comment, mr. president, on russian sanctions, please?

apple supplier foxconn, they make the iphones. they just unveiled its new plan to build that $10 billion factory in wisconsin. they're going to produce those lcd panels there. potentially 30,000 jobs in total, including the ones at the factory and also the knock on jobs. and look at these. states like pennsylvania want in on the action too. however, remember when president obama said donald trump will not bring back manufacturing jobs? let's take a listen. >> he's going to bring all of these jobs back. well, how exactly is he going to do that? what are you going to do? there's no answer to it. he just says i'm going to negotiate a better deal. well, how -- what -- how exactly are you going to negotiate that? what magic wand do you have? . liz: let's take it to the power panel wealth manager jason rot man. good to have you guys. first, your quick reaction on apple's earnings. it looks like they've now got a new cash file of more than 261 billion bucks. it could add 51 points to the dow tomorrow morning. what do you think? first to

no trains, boats, foxconn.ng backs. 30 million people moving westward. westward from the invader. westward from slavery. westward from debt. westward, to freedom. [singing] >> now in the free mountain land of the west, ancient cities is spraying with fresh and modern life. chief of them all was the new capital of free china. above the yanks d river, the chinese reestablish their government. they knew the people of the city would not be safe from air raids. the memories of shanghai were fresh in their mind. on the sandstone cliff which the city was built, they rushed the building of enormous case for the human life. jacks, it became the heart of the nation they were determined to conquer. break the spirit of china. [yelling in chinese] announcer: but they could not reach the city by land. they would send their farmers to blasted from the face of the earth. -- two blast it from the face of the arts. -- to blast it from the face of the earth. announcer: against these japanese, slow and obsolete planes made an- att

echoing what he told "the journal" a few days ago, but he said foxconn could increase the investmention. although we have not gotten official word on that number. >> i think it's a little bit notable, the praise he heaved upon fuse sif praise. some of which customers such as apple have pushed but i think part of that just comes down to the president's way of speaking when he's talking about something that is good. >> it reminds me of when he also spoke about his conversation with tim cook of apple and said that he's going to build three factories in the u.s cook was asked about that on the conference call by an analyst and totally dodged that question, talked about the responsibility to create jobs in this country, something that apple is clearly focused and working on didn't hear much about the three plans that was mentioned. >> i wouldn't say it was a total dodge. what tim cook did was get to the substance of job creation. >> right. >> perhaps he was trying to avoid saying that the president didn't perhaps have all of the details. he didn't say, yes, that's what i told the presiden

it is happening all over, as i mentioned yesterday, foxconn is going to spend $10 billion in wisconsin and other places. and i think the $10 billion will end up being $30 billion. they make the iphones for apple and others and it is a truly incredible company. so we have a lot of things , happening that are really today the stock market hit the great, but again highest level , than it has ever been, and our country is doing very well. i just want to thank you all. tom and david are going to be outside and will speak to you at length about what we are going to do with respect to this aspect of immigration. i think it is going to be very, very important. the biggest change in 50 years. thank you all very much. reporter: can you give us a comment on russian sanctions, please? >> senator purdue and i both have a brief statement and will be taking your questions. we are excited to introduce version two of the raise act, which will change our legal immigration system and the way that we award one million green cards every single year. it will help working-class americans get a pay raise that

foxconn, the korean supplies.ade in hong kong, they make the speakers for the apple iphones. there is euphoria or optimism that comes through with these apple numbers around expectations for future iphone sales. they certainly play into the hands of these producers and technologies.c we have a few more in japan, as well. andbroader context of apple how much of a player and leader it is in the tech space, just buoyed sentiment. we saw dow futures jumping after that move. we are looking at again in japan after we start equity trading shortly. this is in the context of an earnings season across the world that is been beating expectations. more so across the u.s. than in japan. it is been a good earnings season so far. that largely supports the opinion of equity investors, and that the global economy is intact. earnings are good enough to deliver a push higher in prices. that is where we are at the moment, looking for stocks open higher in asia today. yvonne: we were just talking to jpmorgan about forex, and the rally

foxconn will spend $10 billion in wisconsin, and other places. i think the $10 billion will end up being $30 billion. they make the iphones for apple and others. it is a truly incredible company. we have a lot of things happening that are really great, but today the stock market hit the highest level that it has ever been in our country is doing very well. i want to thank you all. comment david are going to be outside. they will speak to you at length about what we are going to do with respect to this aspect of immigration. i think it will be very, very important. the biggest in 50 years. the biggest change in 50 years. thank you very much. could you give us a time on russian sanctions, please? >> we will be back here at the white house later today with incoming press secretary sarah huckabee sanders. he will hold today's briefing. that started 2:30 eastern. we will have it live on c-span. last week, the convention of hackers and i.t. professionals took place in las vegas. the atlantic council will look at some of the issues discussed and what is

>> it could be a big win for trump's trade policy because foxconn's chairman specifically said that heided to make this investment because he was worried about the threat he's not the only ceo to say this that's true. >> i think foxconn is trying to hedge against potential trade war and makes some sense and the cost of the products that apple and other sales are much higher because foxconn is an assembly operation and they produce very little >> and i think we heard louder protests from apple and we have not. >> no, because it is better for them >> it is better for them to produce these products some where. they can figure it out in terms of higher productivity and keeping costs down they're very good of this. >> sorry guys, we'll continue this conversation i am sure over the next month, allan and dan, appreciate it. >> analysts think maybe this is the quarter that end the streaks. >>> plus, the xlf is trading at its highest. we debate and more here on "power lunch." ♪ there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than part

foxconn got all the attention, but the german company helebo and jelly belly is down the road so this could be the sweetest cheese-filled county in the united states in a couple of years. >> that's a good combo. >> the gummy bear are coming thanks, brian. good job. >> 15 minutes to go before the closing bell we're following the stock market reaction there was a noticeable dip across the market. >> absolutely. >> on these headlines that we just got from president trump threatening north korea. really taking up the threat when it comes to that escalation of war of words, responding to some of the recent provocations the s&p is down a third of 5%. >> more of that coming up. disney highlighting earnings after the bell ceo bob iger will talk about the results and the impact of cord-cutting all in a first on cnbc interview as soons os numbers are out. stay tuned for that. if you are 62 years old or older here's some good news! you may be eligible for a home equity line of credit with enhanced benefits. it's called a reverse mortgage line of credit loan from reverse mortgage funding! nearly

you saw the foxconn last week.o spend 10 billion, but he is one of the great businessmen of our time. and i think the number is going to be 30 million. so he told me, off the record, so he told me that off the record so i promised i wouldn't tell anybody. clayton: of the record. foxconn is i object credibly important, too. look, one of the number one companies in the world is apple right now. apple, x on go back and forth a little dance. foxconn makes the iphones in china. one of the criticisms of apple has been can you get those jobs back to the united states. those people in there putting the parts together to make the iphones. we make all the parts here and ship them to china and built inside foxconn and ship them back to be sold. why can't we do that here? because of the costs involved. pete: start bringing billing business like that that's huge. small businesses have been hit the hardest by regulations of the obama area. big business is called cronyism they can manipulate the system with accountants. it's the

as i mentioned, foxconn will spend $10 billion in wisconsin and other places, and i think the $10 billion will end up being $30 billion. they make the iphones for apple and others and it is a truly incredible company. so we have a lot of things happening that are really great, but again, today, the stock market hit the highest level that it has ever been and our country is doing very well. i just want to thank you all. tom and david are going to be outside. they're going speak to you at length about what we're going to do with respect to this aspect of immigration. i think it will be very, very important. it's the biggest change in 50 years. thank you all very much. >> can you give us a comment, mr. president, on russian sanctions, please? >>> we'll have a brief statement and then take your questions. we are proud to be producing version 2 which will finally change our legal immigration system and the way we award a million green cards every single year. it's going to help working-class americans get a pay raise that they've lacked for too long, for my lifetime, 40 years. your quality of

we have companies pouring into our country, foxconn and car companies and so many others, coming back to our country. we are renegotiating trade deals to make them great for our country and great for the american worker. we have so many incredible things happening in our country, so when i watch charlottesville, to me it is very sad. i want to salute the great work of the state and local police in virginia. incredible people. law enforcement. and also, the national guard, they have really been working smart and working hard. they have been doing a terrific job. federal authorities are providing tremendous support to the governor, he thanked me for that, and we are here to provide whatever assistance is needed. we are ready, willing and able. above all else, we must remember this truth. no matter our color, creed, religion or political party, we are all americans first. we love our country. we love our god. we love our flag. we are proud of our country. we are proud of who we are. so we want to get this situation straightened out in charlottesville. and we want to study it. and we want