of the imf. and she is the first woman to hold that position. she is actually the first woman to have held a lot of italy positions in her career. -- to have held a lot of elite positions in her car. previously, she has been the finance and economics minister. the first woman to hold that job in any g7 country. she has spoken to many glass ceilings. prior to that, -- prior to her current position, she also council that brings together finance ministers of the eu, she helped foster strengthening global economic markets and as chairman of the g20, when france took over in 2011, she set in motion a wide ranging agenda. in her role as imf managing director, when she was reappointed in 2016, she had among other things been a strong advocate for women's financial empowerment and their role in strengthening economic growth. please welcome our guest. [applause] and i also want to let all of you know who are in the room and those watching online, hello mom and dad, that you can tweet questions to madame l

does the united states need an imf program? [ laughter ] >> i think a quote, i would have to be really fat in order to help. you know, we do three things. we do what we call surveillance, which is an annual audit review and in-depth analysis of all economies around the world, the united states included, the uk, france, germany, japan, you name it. and annually we give our policy recommendations. which countries decide to either follow, be inspired by, or decide to ignore at their peril. so that's one thing. second thing we do is -- and that's massive, actually. it's the business line that we have, if you will, capacity development. we provide technical assistance, training, predominantly in emerging economies but also some advanced economies. whether it's improving the debt management system where there's finance management, whether there's banking regulations. we provide that, and we have lots of actually technical and training centers, in africa in particular. and the third activity we have which is the one we are most well k

desk that we have at imf. but he think they like to at least confront their views an and they respect our analysis and they don't always agree with it. i find myself with many countries in a position to actually argue with them why we think that this approach or, you know, combination of fiscal policies are needed for them to rebuild a-- the buffers. and they say, well, not sure we should do that now. you know, i was a finance minister for four years, it's very cementing when you have a little bit of surplus, a little bit of fiscal space, to actually say to your colleagues or to the leader or the prime minister, however, who is financing things, whether it's infrastructure, whether it's a social program. it's tempting to say, okay, all right. but sometimes it's not okay. >> host: or sometimes you don't even have the fiscal space and you make room. >> that is true, that is true. >> host: we have seen that here, certainly. so, and lastly, we're close to the end, but i wanted to ask you sort of a more general imf

yes, or the woman who runs the imf.ut let's speak about this story that we have discussed, with gary cohn, who has resigned. not a big surprise, because he had a rocky relationship with donald trump. but they had eight clash over the sharp pivot towards protectionist policies. i thought, pivot towards protectionist policies. ithought, they pivot towards protectionist policies. i thought, they weren't sudden. but we have known about these protectionist ideas as before he was elected. yes, but we always hoped that it says is that the buck would be louder than the bike. —— the bach would be louder than the bite. —— bark. it seems like some people have really taken hold of them, and he has come forward with these tariffs. steven mnuchin is really the only reasonable, the une, with our view of the world, free—trade advocates, and who want open economies, he is the last man standing. so of his team, many viewed gary cohn as one to balance some of the others, the likes of wilbur ross, the commerce secretary, who has been very

bloomberg sat down with imf managing director christine lagarde.met in berlin, where la rgarde gave a lecture on strengthening the european withg director christine union. >> why has european integration been so slow? >> i wouldn't say that. i would say in times of crisis where there is a necessity, they eventually moved very fast. the euro area was clearly incomplete and needed to be strengthened. they put up a firewall. they reinforced the banking system. i think they came to a close accountability, but it is still short of what is needed. they need more trust. they need more accountability. more to the point, they need to strengthen three things. one is the capital market, two is the banking union, and three is essential capacity that will signal to the rest of the world that they are shoulder to shoulder together, and they will face the next crisis with that rainy fund we are advocating. >> on those three points, the capital and banking unions, will we get a real capital markets union and the banking in our lifetime? >> in your lifetime, yes. i

coming up, an exclusive conversation with the imf managing director, christine lagarde, 6:00 a.m.york and 11:00 a.m. in london. this is bloomberg. ♪ reporter: uber has agreed to sell the southeast operations to grab. grab will acquire all of the operations in a region of about hundred 20 million people, including food delivery service uber eats. in return, the u.s. ride hailer will take a 27.5% stake in a combined entity and the ceo will join the board at the singapore-based grab. gun maker remington has filed for chapter 11 bankruptcy protections, saying it has liabilities of $11 million. this would cut $700 million and inject $145 million of new capital into the company. remington took a hit after the election of donald trump, a self proclaimed true friend of the gun industry. 's ceo says the company has yet to be contacted by swiss authorities over a bribery investigation related to a mongolian copper and gold mine. jean exclusive interview, sebastien jacques says the expansion remains on track. >> we had no interaction whatsoever, so i am learning what you are through the pres

. >>> imf christine lagarde's say be protectionism wrapped in global growth, in a speech until berlinad of the imf saying the upside of the global economy warned of headwinds with policy and president donald trump's concerns about chinese trade deficits are legitimate. that's the message from former u.s. trade representative michael fuhrman. speaking with cnbc in beijing, fuhrman said although may many disagree with trump's tactic, beijing's economic tacticers are undeniably a problem >> it's premature to call it a trade war per se because a lot will depend on how each side reacts to the other. and nobody wants a trade war there is no winning of a trade war. it's only a question of how much each side loses but i think the trump administration has made clear that business as usual going through these dialogues we've had in the past or even relying on the wto mechanisms are not sufficient they haven't produced the kind of results they would like to see from china, in terms of reforming its economy and playing by global rules. and so this is their next step, this is the new approach but

managingand imf director, lagarde tells europe to get together on capital markets. >> it is still shortf what is needed. abigail: it is all straight ahead on "bloomberg best." ♪ abigail: hello, and welcome. i am abigail doolittle. this is "bloomberg best." your weekly review of the most important business news, analysis, and interview some bloomberg television around the world. let's start with a day by day look at the top headlines. the week began with western allies united to punish russia for the nerve agent attack in the u.k. >> the west clamping down on russia in a coordinated assault in the chemical attack in the u.k. this earlier -- chemical attack in the u.k. earlier. european council president says 14 e.u. countries will expel russian diplomats. >> the white house has taken action to retaliate for the poisoning of the former russian spy in great britain, ordering 60 russian diplomats to leave the united states, and closing russia's seattle consulate. >> the russians have been looking for to same positive cooperation. what they got with these expulsions. i think the kremlin is g

anhave seen egypt taking on imf loan. inflation here shut up. -- shot up. those are the kinds of things that will be affecting people's daily lives regardless of the politics over the next four years. >> thanks so much for that. chris will be hosting our election special live tonight from egypt. that starts at 6:30 p.m. french time. is moussaallenger mustafa moussa who publicly supports the president. is theear-old moussa sole candidate running against el sissi in the upcoming vote. >> i believe i have equal chances. i believe that my program will get me a high enough percentage to get me to win. that is my goal. >> his actions do not always reflect his words. the french educated architect turned politician has refused to make campaign speeches nor has he bought ads in newspapers or on television. his party endorsed president sissi for a second term before offering their second -- before offering their own canandidate. back in january, the -- he threw his risk -- he threw his hat in the ring before the deadline. >> i promise you know when in the party are g

the imf is pushing them to make it very difficult forms and i think we need to do more to invest in jordan'sc stability. king abdulla represents a version of islam that is moderate, they are a counterterrorism partner to israel in the united states and they are an island of stability in an otherwise chaotic region and i think we can in should do more to support jordan. [applause] >> last night we heard from ambassador haley about us efforts to combat bias in the un and this is an issue you care deeply about and you and senator rubio, the two of you work very well together and authored a letter to the un secretary-general calling for efforts to put out this anti- is really biased and what impact do you think that letter has. >> one of the great things about my working partnership and my friendship with marco is that were on the foreign relations committee together and that is nice in important but we are also on the appropriations committee the specific on the funds the united nations. our communication the secretary-general that have pressed for more transparency, more efficiency and serious

. - the imf world bank. the united states remains honored to be one of the founding fathers of both organizations. - that's why we created nato. the powerful military alliance of democracies, that has guaranteed our security for half a century now. - we've lost 60,000 factories since china joined the world trade organization in 2001. - the us government's position after the end of the cold war was this was a good thing, let's keep it going. the military did get smaller, but the united states really didn't shed any of its major foreign responsibilities. there was a very conscious decision, on the part of george hw bush administration, and then immediately after that, the clinton administration, to define a new set of objectives around american primacy. - some people were more optimistic about the possibility of perpetuating america's unilateral power, particularly its military strength. you had other people who saw, as a more realistic alternative to that, a kind of liberal multi nationalism, in which america

. - when the united states decided to establish the imf and the world bank under bretton woods, they wanted to make sure that their fingerprints were all over the project, and china has tried to do the same by at least initially creating a framework and a structure where they would play an outsized role. (light music) - [narrator] the belt and road initiative is a mammoth undertaking, one that analysts say washington is all but ignoring. - the initial american response to china's belt and road initiative has been somewhat skeptical. while we are definitely just seeing not just in the us, but globally right now, a little bit of a pushback against the most liberal free trade attitudes that have prevailed in the past, i think we have a long way to go before we would say that china's in the league of the us in terms of openness to trade, and goods, and especially in services. - i'm going to renegotiate nafta, one of the worst trade deals ever signed in the history of our country, perhaps the worst ever signed in the history, frankly, of the world. - the new administration has made it ver

when the imf comes in funds it with big loans, funds reconstruction, sets up rule of law, imf will comeill mean american business, imf and american business will rebuild the country. stuart: that is how it works? >> yes. stuart: maduro is out, get as deal. i leave peacefully, you come on in, imf with your money. that is how it works? >> that is how we hope it works. there are talks secretly to try to get maduro out peacefully. stuart: have you ever seen anything like this in a latin america country before any can't remember it. >> not this spectacularry large, but you have economic crises and military in control, you had it in peru, you had it in chile and you had it in argentina. the fact that you have so many international interests and iranians and cubans, the world's biggest oil reserves and world's biggest drug cartel, it is like a witches brew the likes of which we never see before. stuart: i have don't know what on earth iranians and hezbollah are doing there? >> flouting sanctions. doing it for years. doing it through the venezuela oil company which is why one of the reasons why

the imf warned that such a move would not only hurt other countries, but also the united states itself. international stock markets have fallen since the announcement and many of the united states‘ trading partners say they're considering retaliatory action. china's steel industry has labelled the move ‘stupid'. european commission president jean—claude juncker says the eu will react in kind if mrtrump goes ahead. meanwhile the world trade organisation says the potential for escalation is real, and that a trade war is in no one's interests. canada's prime minister, justin trudeau, said the whole business was unacceptable — warning of serious problems. the integrated nature of our supply chains means that there would be significant disruption, in canada obviously, but also in the united states. we buy more steel from the united states than any other country, and disruptions to this integrated... integrated market would be significant, and serious. at that is why we are pressing upon the american administration the unacceptable nature of these proposals that are going to hurt them every

and the imf says that 90% of global growth in the next ten to 15 years will be outside the european continent where the big possibilities for uk exporters are including in food and drink. the ministers colleagues are fond of talking about pork markets and china but can i urge him to pay attention to the pulse markets there. they are keen to export fava beans to china but the department for international trade is not talking to them. the chinese want these beans but there is some obstacles. liam fox said he would investigate whether there were any technical impediments that could be "swept away". the questions moved on to steel and the imposition of tariffs by the united states. liam fox set out his current position. we welcome the united states granting and e0 wide exemption from the tariffs applied under section 232 for a limited time period, we continue to argue this is not an appropriate mechanism to deal with justifiable concerns in relation to the overcapacity of steel worldwide. 15% of uk steel goes to america and quite frankly, a pause on imposition of tariffs is not good enough. i wou

later, imf managing director christine lagarde. ♪ this week on q&a former u.s.order patrol agent francisco cantu discusses his memoir "the line becomes a river: dispatches from the border." brian: francisco cantu, author of "the line becomes a river," when did you first think about becoming a writer? mr. cantu: i first thought about writing about my experiences as a border poll

the imf warned that such a move would not only hurt other countries, but also the united states itselfuncement and many of the united states' trading partners say they're considering retaliatory action. china's steel industry has labelled the move ‘stupid'. european commission president jean—claude juncker says the eu will react in kind if mrtrump goes ahead. meanwhile the world trade organisation says the potential for escalation is real, and that a trade war

there were not small sums of money put in by the imf and world bank. i'm so i continue to believe -- and so i continue to believe that money alone, unless you get the fundamentals right, will not solve the problem. and again, i very much hoped there would be structural reforms, but as bill said here, we worked with others, then they sent someone else and sort of walked away, so there was never really a good plan we felt we could invest in. and then the one last point, , i will switch it to today, which is china. so this is a question for all of you russian specialists in the room. i still don't quite grasp why putin seems more worried about nato and poland and the politics -- and the baltics and the u.s. then he is about china and the area to his south. and so we can talk about the history of russia and so on, but at some point, somebody has to recognize, do you really think that poland and germany and the united states are a threat to russia, or do you think that maybe some other regions might cause greater anxiety? >> we did talk about that yesterday

the head of the imf is warning about what she calls the dark side of the currencies.the imfarde can play a central role in regulating digital cash. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. vonnie: thank you. let's get back to president trump's decision to fire rex tillerson and nominate mike pompeo. we really just learned about this this morning. tillerson himself learned it from twitter. what have you learned in the last couple of hours from your reporting of what exactly went down? >> rex tillerson took a call in the middle of the night friday in africa while he was on this week long tour of the continent, literally a 2:00 a.m. call that signaled that his job may be in trouble. he spent much of the rest of his trip through this morning fighting for his job. it doesn'tnk -- sound like tillerson was expecting any kind of a decision today. he was an exciting to be reading about his dismissal on twitter. -- he wasn't expecting to be reading about his dismissal on twitter. we are tryi

the united nations, the imf, the world bank, the predecessor organizations of the union and world trade organizations were all created between 1945 and 1949 and for my story two of these institutions the european union and nato were perfect products of the marshall plan. that might sound surprising, but the ground grande project economically, politically and militarily was actually the most critical component of the new american strategy at the time in 1947 containing the soviet union that came from the famous american diplomats. to understand why that was we have to go back a few years further. during the second world war of course the united states and soviet union's were allies in the battle against nazi germany. but as the soviet dictator observed at the conference in 1943 the best friendships are those found in our misunderstandings and no doubt the misunderstandings were profound and contributed enormously to their friendship over the years. fdr believed or needed desperately to believe that if they would effectively contain themselves and for his part heie believed that they woul

we want them to be a part of the imf treaty that we both signed and that america is in wepliance withd are seeing a more erratic behavior. the speech that president putin gave a couple of weeks ago was bizarre. it was out of control. and so we will be continuing to watch this very carefully, continue the sanctions, keep trying to bring russia in but eventually if they continue bad behavior, they are going to have to pay the price for it. david: there are some headlines coming out from bloomberg where russia and the security council are very concerned with as they call provocations. they are discussing their ties with the u.k. to the public russia seems to be escalating the conflict, not seeking a resolution of it. is that just the outside? are things going on behind the scenes that would be more encouraging? amb. hutchison: i am not encouraged. things are happening that are not encouraging. there is still dialogue with russian ambassadors. obviously the u.k. has made a decision which they are certainly in the right position to do so. we do continue dialogues hoping that this will make

the imf has lifted its global growth forecasts after the trump administration cut the u.s. company tax rate to 21% and we cannot deny that the need to be competitive increases the urgency with which we are pursuing similar tax cuts in australia. in australia we're presenting legislation to reduce tax for all businesses to 25%. we've already achieved a reform bringing tax down to over time to 25% for businesses with turnovers up to $50 million a year. that's not a huge business i might add at $50 million a year, but those businesses employ half of the private sector work force in australia but we need to go further, as you have done. the flow of investment and technology is not just one way, far from it as you know. our $200 billion defense capability build is driving a new generation of australian defense technology enterprises to entry grate into the supply chains in u.s. primes like boeing, raytheon, lockheed martin and northrop grumman. we want the integration of our defense industry supply chains to match the interoperability of our armed forces. so i'm encouraged to se

you have got the imf, the business round table, the "wall street journal" and communist china. they don't think it's a good idea. >> this president is a risk taker. the risk he has taken has brought prosperity back to america. i have been in this town for a long time. i was here when we debated nafta. and i was here when we dealt with the world trade organization. he's not the deck day or-in-chief, he's the commander-in-chief. he said he wanted a level playing field with free trade. let's listen to his ideals. charles: i feel like he equated this with the bay of pigs. but what would the answer be. how do we ever get the rest of the world to deal with this with respect. >> this kind of action ends up ultimately hurting americans. one thing that has not gotten a lot of attention. there are 140,000 americans that work directly in steel. but the industries dependent on steel, 6.5 million workers. they just saw their prices go up 25% for steel and 10% for aluminum. we are getting cheap foreign goods. one reason every american should care and oppose this policy, your prices are going

p.m., imf managing director, christine lagarde. rolling back. frank -- dodd frank. response to the sears flu epidemic. live coverage of the senate hearing on domestic violence in the military. >> this weekend on book tv, live coverage of the 10th annual tucson festival of books featuring author discussions and viewer call-in sections from the university of arizona starting saturday at new eastern with a columnist who talks about politics in his book, the .etreat of western liberalism a discussion about detroit administration with the author of it is even worse than you think. after night scott kelly talks about space exploration with his book, endurance: a year in space , a lifetime of discovery. our live coverage continues sunday at 1:00 eastern with a topic on women in the military. her book, code girls, the untold story of the american women codebreakers of world war ii. a discussion on the republican party. an author talks about immigration with his book, go back to where you came from. watch our live coverage of the 10th annual tucson festival of books on c-spa

forward in the negotiations come across is going up on, which is the long way around, if you look at the imfyears, constant messages, difficult reforms in good times. they usually actually detract from demand in the near term, at supplying a long term. you want to do that when things are good. it makes big change is more likely when times get tough. of course the world looks good now. couple ofll on for a years. we have to keep quiet, investing in those asset classes, but there will be another climb in asset markets, there will be another surge of risk concerned over the structure, and we will be there again. vonnie: what happens over the next several months? i am sure your clients are asking you -- we saw the spread, germans, the italian bonds get narrower -- we have a lovely chart -- but just in general, where does the rest of europe go? david: we do think the bond yields are probably going to drift higher. as we move through this year, the ecb has been very difficult. from the market last year, that has been negative territory, by next summer, keeping things in protective, but -- in persp

the imf issued a statement a short while ago saying we are concerned that these measures proposed by.s. will de facto expand the circumstances were countries use the national security rationale to justify broad-based import restrictions. we encourage the u.s. and trading partners to work constructively together to reduce trade barriers and resolve trade disagreements without resorting to such emergency measures. jerry willis is in the newsroom with fallout from a lot of companies. >> i can tell you the dow is down again on trade fears. interestingly, beneficiaries of the tariff, steel and aluminum companies trading lower after a big update thursday. the selloff shows how wide the use of these metals are. from cans of campbell soup to air-conditioners, cars, powerboats. sectors hardest hit, the tech sector keep swinging back and forth. corporations weighing in were mostly negative. here's what electrolux had to say. we believe it's likely to cause a significant increase in the price of steel in the u.s. market. this will give foreign-made products and unfair cost advantage compared to

abigail: the imf managing editor tells europe to get together on capital markets. >> it is still shortf what is needed. abigail: it is all straight ahead on "bloomberg best."." ♪ abigail: hello and welcome. i am abigail doolittle. this is "bloomberg best." let's start with a day by day look at the top headlines. the week began with western allies united to punish russia for the nerve agent attack in the u.k. tamping down on russia earlier this month. european council president says 14 eu countries will expel russian diplomats. >> the white house has taken action to retaliate for the poisoning of the former russian spy in great britain, ordering 60 diplomats to leave the united states and closing russia's seattle consulate. >> the russians have been looking forward to cooperation. what they got with these expulsions. i think the kremlin is going to respond in kind, but at the same time it has lost a little bit more hope they can find a way to work with donald trump after so much hope was expressed after his election. shortage -- we have the s&p 500 making its biggest one-day gain since

. >> indeed, we are looking at the imf nonmanufacturing composite for february and it's coming in higherhan the survey, coming in 59.5. the survey has been going for a print of 15.9. anything above 50 signals expansion, so this is certainly expansion and it also follows the manufacturing print on friday that was the highest level of this business cycle. all of this signifies economic strength relative to the major averages. we were looking at the kleins before. we are still looking at modest the kleins. -- we were looking at declines before. we are still looking at modest declines. investors contend not just with the idea the fed could be raising rates this year three times or more, but also the possibility of a trade war. and again around the trade war possibility let's look at movers including boeing, caterpillar, nike. what makes these shares stand out, i'll have foreign competitors should aid trade war it wrapped that -- should aid aade war it wrapped -- should trade war erupt that they might lose business. happened ont what the bloomberg. this is an interesting chart. this is coming

. >> and this is a statement from the imf, the international monetary fund regarding the tariffs. jerry rice, the spokesperson for the organization, said, quote, the import restrictions announced by the u.s. president are likely to cause damage, not only outside of the u.s., but also to the u.s. economy itself. including its manufacturing and construction sectors which are major uses of aluminum and steel. we are concerned that the measures proposed by the u.s. will defacto, expand the circumstances under which countries use the national security rational to justify broad based import restrictions. we encourage the u.s. and its trading partners to work constructively together to produce trade barriers and resolve trade disagreements without resort to such emergency measures you are up to date that is what the imf thinks of these pending tariffs. >> thank you very much and important to get their perspective on this as well. so the president is getting some support from some in the rust belt joining us is marcy kaptur and you are representing the ninth district which is northern ohi

we got rid of that, as the result of the imf treaty. the secretary manis has proposed do much the same. what we found 70 years of holding on to nuclear weapon. as long as we hold the same weapons our adversaries hold we will likely never use them. that's the policy we're moving towards. we're moving in the right direction. >> lou dobbs: that is towards expanding and creating new tactical weapons nuclear weapons? >> and upgrading all of our strategic weapons. every, single one of them. >> lou dobbs: you talk about four to five years on the part of the russia. how quickly do you believe the united states can catch up with the russian advance? >> it will take us at least five or six years of full throated budgets on a scale that we have right now. and we just got to make the commitment to that, if we don't do that, we will have problems, because while we're still the dominant military in the world,. >> lou dobbs: , we have eroded and our adversaries have caught up to us in a lot of our technology advantage and in certain cay is this have g

the president plans to tap mark andn as director of the imf to nominate david eisner as assistant treasurywill keep you posted on all these moves right here on bloomberg television. thank you for watching. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ haidi: u.s. market sliding again as tech remains weak and amazon replacing facebook as the fed top punch bag. tesla sure stumbling for -- sure stumbling for tesla. and we did it to a deadline in queensland and the latest. betty: any warning from the wto and that and we did sees the fif me trade war that cade

but how long can the imf keep bailing out greece and italy?t until the election.

headline european and canada agreement, ceta, is expected to increase gdp by 0.3% >> i simply say, imf said 90% of all future growth is going to be in the rest of the world it's not going to be in the eu our trade deficit with the eu in the single market is a disaster area in terms of deficits and surplus. these are office of national statistic figures. not invented last year it was 82 billion deficit. it went up by 10 billion actually our surplus went up by about 7 billion, it's accelerated. so the bottom line is for us to have an economic policy, which is not tied down and strangled as it whereby the eu trade legal system is a huge advantage to us what about more specifically around a trade war we had this issue around steel today. what happens in a situation like this >> trade wars in themselves are not a good idea. but you have to ask the question why do they happen, not whether they happen, because the truth is the manner in which a lot of the trading does take place is based on protectionism the eu is a protectionist system within the framework of a customs union. that's the inte

the united nations, the imf, world bank, nato and predecessor organization to european union and world trade organization were all created between 1945 and 1949. and importantly for my story two of these institutions, the european union and nato were direct products of the marshal plan. now, that might sound surprising. but this grand project of integrating western europe economically and politically ultimately militarily was actually the most critical component of the new american strategy at the time in 1947 quote unquote containing the soviet union which came from famous american dplo malt george canon. now to understand why that was we have to go back a few years further. to the warriors -- during the second world war, of course, the united states and the soviet unions were allies. in the battle against nazi germany. but as soviet dictator riley observed at the allied war leaders conference in 1943, quote unquote the best friendships are those founded on misunderstandings, and no doubt misunderstandings between stalin and fdr were profound and contradicted enormously to their frien

in 2015 when the ukraine related sanction started, the imf reported that the measures could take 9% offf russia's economic growth over time. >> bret: thank you. so what do you think? could the russians turn off your lights or worse? let me know on twitter. you can use the #specialreport or on facebook. we are learning more tonight on what happened thursday when a pedestrian bridge collapsed under a busy highway in miami. at least fix the next six people are dead so far, others are injured and more are asking how could this happen? steve harrigan is a miami tonight. >> the $14 million bridge that was supposed to keep students safe to connecting university in the town across a busy eight lane road has become a recovery operation, firefighters and engineers struggled to pull the dead from 950 tons of concrete, parts a bumpers dropped out from at least eight vehicles that were stopped at a red light at 1:30 thursday afternoon. surveillance video shows the moment that the bridge fell. even veteran first responders were stunned by the sudden collapse. >> it was chaotic at first, once i did ge

just to add to that, we see the imf coming out with a statement there on tariffs. international monetary fund spokesperson saying the import restrictions announced by the u.s. president are likely to cause damage not only outside the u.s. but to the u.s. economy itself including to its manufacturing and construction sectors which are major users of aluminum and steel. so, lots of concern here that we're going to see increased, seeing trade are war here going on globally that is started perhaps by the united states. i beg to differ a little. we'll continue that conversation. first i want to get with stuart varney who spoke with commerce secretary wilbur ross earlier today. wilbur ross argue these tariffs are no big deal. he says they won't cause any noticeable rise in consumer goods prices. here he is, listen. >> first of all, let's put it in perspective. i just bought a can of campbell's soup today at the 7-eleven. it was $1.99 for the can. there is about 3 cents worth of tin plate steel in this can. so if it goes up 25%, that is tiny fraction of one penny. that is

he has seen it become a reserve currency in the imf basket of reserve currencies., and bloomberg has been reporting there are moves underway to merge the regulators , banking regulators and insurance regulator. he said the pboc was going to have a more important role in financial regulation and oversight and they would not be stepping back on their oversight of financial risks in the system. rishaad: indeed, and looking at the headlines, reform in process, more of that, a bigger role also in the new financial regulatory system and boost coordination amongst financial regulators, talking about fx reserves remaining stable. regulation,bit on at a bit about the quality of growth. actually the way china's economic growth path is progressing. that is interesting. saying a focus on quality growth was the new normal for china. this was stressed at the party congress by president xi in october and was mentioned by the premier when he addressed the national people's congress, but the governor now underlining the focus on quality growth. 6.5%ave that target set at , losing t

the you both get to attend imf special meeting. let's talk about trade right now.ann basically invented this chart, maybe with a good morning to stephen roach. the twin deficits, you wrote a book 20 years ago and i remember talking to larry kudlow. you have a chapter in there on the twin deficits. should we fear our new twin deficits? catherine: yes, we should. your chart with the red dot, that was the first article i wrote about the twin deficits actually and i continued writing about it because it is good every 10 years and it will be good again. tom: what is our codependency now? you formed this china-u.s. codependency. how does this folding to the president's naivete on deficit dynamics? catherine: we continue to have codependency, a very important trade relationship, very important for supply chains and u.s. consumers and business. you cannot disentangle it just by fiat. you cannot say cut it and half and everything will be ok. that is the naivete. aboutne: are you worried the u.s. economy overheating or are we actually worried about something going wrong in t

later, imf managing director christine lagarde. ♪ this week on q&a former u.s.order patrol agent francisco cantu discusses his memoir "the line becomes a river: dispatches from the border." brian: francisco cantu, author of "the line becomes a river," when did you first think about becoming a writer? mr. cantu: i first thought about writing about my experiences as -- patrol agent six months or year after leaving. i think i was really trying to grapple with that experience and come to terms with what i participated in. so that's when i really first started thinking, ok i have to write to make sense of this. it seems like the only option. to kind of get everything down on paper, put all of those experiences in one place. i didn't know it would be a book at the time. but i think that's how all tell-all books sort of's start. brian: when were you in the border patrol and where did you live? mr. cantu: 2008-2012, i spent the first two years of my career in a field station in arizona. and i spent another year at intelligence sector headquarters in tucson. and then i s

and she started that -- amy: a hotel worker who challenge swept the most powerful men, head of the imfo could have become the president of france. >> that was an amazing case that she was able to be heard and she was, of course, attack. she also successfully sued a mainstream media outlet that claimed she was a prostitute. people attempted to silence her by discrediting her, calling her prostitute, saying why should we listen to her. but a number of other women came forward because of her courage and also talked about sexual violence and him and express con and it ended his career and destroyed his reputation, which deserved to be destroyed. but he did sign a nondisclosure agreement which stormy daniels signed is a typical thing that is one of a narrative techniques myriadencing women -- techniques for silencing women. it is not a victory of part of ist you have to settle for being silent. they perpetrate the problem, which is that when you said no, when you said this is not what should happen, you were silenced. nermeen: rebecca, you said your own experience and as the #metoo shows, t

there's intercorruption component to the imf deal in ukraine and moldovans would like to see that as well. wee see the impact with the european. when imposing strong political conditionality, government, nominally pro-europe, has to abide. they're running on -- for external legitimacy. important for them, relations with european union and west in general. if you have strong political conditionality, benchmarks, very clear reforms to be taken, there is much more room for progress, as opposed to when you provide a blank check as as been the case in moldova and ukraine and to certain extent in georgia after pro-western parties come to power. adept in exploiting geopolitical competition they're in almost to the point of blackmailing the west. don't give us money, we'll go to russia. that rhetoric and scenario is still there, very important for the western partners not to buy into this blackmail. >> very good. yes please. right here. >> thank you. european apartment liaison office. they were not case studies in the book itself but if i may ask, russian inroads in the balkans right now. bo