lutnick, welcome. president trump's budget office issued a memo that directed agencies to cut off all federal spending. all federal spending. outside of payments to individuals. the trump administration issued this order even though the spending was authorized and appropriated by congress, and intended to benefit the american people. a bargain was struck here with the article one power of the purse. the benefit is supposed to flow to the american people. the freeze could affect semiconductor groups, broadband groups, fisheries, disaster relief, habitat conservation. all programs in the department of commerce. do you believe this action by president was lawful? mr. lutnick: i rely on the president. if his advisers say it was, then i will rely on him. in his advisers. sen. markey: that is an unacceptable response, because this action has caused mass confusion, disrupted critical payment systems, and violated directly federal spending statutes passed out of this committee and the congress. so, how can we

lutnick. youee are to be introduced by te vice president of the united states and as i'm re-librarily inform -- reliably informed that he's about three minutes out so we're going to so something in the senate we're quite familiar with and that's filibuster. i took the chairman's prerogative to ask if he could fill three minutes with words of wisdom and i recognize senator thune to say whatever the hell he wants. >> thank you. thank you, mr. chairman. i can't always fill it with words of wisdom but definitely can fill it with words. we're excited to have you fill this important position and you will share and as the chairman shared, you're a very powerful and compelling life story and truly is an example of the american subsyces story, and shall a be -- success story ask someone that's been able to live and pursue the american dream in the midst of a lot of adversity along the way. thank you for being here and sharing your skill and experience at a job that requires a lot of that. i hope that -

mr lutnick suggested the fund could even be used to facilitate the sale of tiktok, which is currently sovereign wealth fund is news news that is heats that is iiikeiit; fantastic news that is likely to greatly accelerate us economic growth shore us economic grdwtbabta'sbors up us security economic grthbano'sbors up us security a economic grthbano'sbore up us security a time national security at a time when we are coming under iglcgeasing from when we are coming under insceasing from china. increasing threat from china. to answer your question, what is a sovereign wealth fund? it is a sovereign wealth fund? it is a sovereign wealth fund? it is a on the us government is a on which the us government would take equity stakes, it would take equity stakes, it would be acting as a giant venture capitalfirm, taking venture capital firm, taking equity in venture equity sta keslinjoint mental re are being equity sta keslinjoint mental re the |re being equity sta keslinjoint mental re the country's equity stakeslinjointventore the country's best entrepreneurs and scientists. this is quite differ

and they both have the biggest influence to policy in the trump administration and saw lutnick in hisntrols and believes we need to be serious about clamping down to chinese access to u.s. technology and will see it through. i think that he and kratsios together will want to do what they can to maintain the u.s. lead in innovation. caroline: an interesting day for e.u.'s going into effect as well. thank you for speaking with us from american innovation. coming up, amy celico will discuss the impact of u.s. tariffs on china and the tech consumption and a.i. race. this is bloomberg technology. ♪ caroline: welcome back to bloomberg technology, i'm caroline hyde. jackie: i'm jackie from new york. caroline: volatility is the name of the day, the reverberation of tariffs that initially were going to be 25%, and china by 10% and may be delayed by a month is what the mexican president said. the lows down .08% and nowhere like we had with deepseek anxiety but tariff anxiety is clear. let's think of the other angles we're watching. president trump's tariffs, in fact there's a plan to eliminate

. >> what do you think samantha treasury secretary bessent, howard lutnick leading the project, unclear how found will be capitalized trump previously pitched tariff money, to potentially fund it, of course, also talked about external revenue service largest in world norway china, hong kong emirates i think a great idea i wonder how it is funded i mentioned one analyst td cowen said treasury might fund some sources from fees paid to the government for auto and gas leases would find proceeds from selling stakes in fannie mae and freddie mac as one way to generate a funding. samantha: details need worked out deregulation unleashing domestic energy one way to legitimate royalties for me exciting because titans of business are back in washington, and folks know how to create wealth are going to bring skills to bear for the benefit of all americans, so this is a really intriguing idea that trump has said he wanted agencies to study and i think it is a good one. maria: yeah, make america wealthy again, we slip in a short break just getting started coming up white house senior counselor for tr

the first tit—for—tat, particularly with the eu, where it and the eu responded. this week of howard lutnickat they favour big blanket bans, because they're more powerful and effective, and that perhaps they'd be only used on a short—term basis to get what they want, of what we saw at the weekend with columbia, as well. is these sort of sweeping generalisations of a tariff, everything. on his campaign promise. beautiful word than tariffs. tariffs is the greatest weapon we have." and i think, you know, this is him following through on that on a particular good. and the one thing you mentioned, caitriona, you know, then we start looking at disruptions to supply chain, the us economy. so i do think timing also is an element here of, and we were talking about messaging on tariffs, of the white house press briefing. karoline leavitt, the new press secretary, holding her first briefing. the norm in recent times. and the amount of interest. seen the press room more crowded than i have in the last and the one with president trump yesterday. it was packed in there, it was 150, maybe 200 crowded night

state marco rubio, the treasury secretary scott bessent as well as commerce secretary nominee howard lutnickration officials who will work with mexico starting today to try and solidify a current deal as the president says, a current deal he wants to get in place, to avoid those tariffs permanently. you mentioned the phone call that happened this morning with the canadian prime minister justin trudeau and another phone call at 3:00 p.m. today and this could be part of that negotiation and again, as the governor said, we might see some sort of agreement or pause out of that phone call. we'll have to wait and see. fast developing story with mexico and now president trump confirming the tariffs on mexico are paused for one month. stuart: edward, thank you very much indeed. back to alaska's governor dunleavy. it really sounds like things are moving from your vantage point. is that the way you see it? >> yeah, absolutely. and these things are oftentimes -- when i say temporary, they're fast moving and agreements sooner than we this. it's great news out of mexico. again, we'll see the same thing w

megan costello. >> you also wonder what the relationship is between howard lutnick and scott. bessent in treasury and commerce. just kind of we're going to go to steve liesman in a second just to kind. of recap what. we heard there at the top, the sovereign wealth fund. i want everyone out there listening and watching to understand what we're talking about. and correct me if i'm wrong. >> well, let's see what we're talking about. >> i actually don't know the details. i'm going to make it up. >> but what. >> we know about sovereign wealth funds is this to kelly's point, you sell or you. >> sell. >> something, you raise money. and with those that money, you buy stuff and then you hopefully make. >> money investments. >> for the citizens. >> so if you have a lot of oil, look what alaska has done, something similar. you know, there are some u.s. states who have kind of tried to look at this model already, and it's a good idea, especially with something problematic like fossil fuels. you can give people revenue while you work on that transition. this is something they've been doing

this chart as your secretary of the treasury, scott bessent, secretary of commerce, howard lutnick, to begin a process that will hopefully result in the creation of an american sovereign wealth fund. pres. trump: it's a very exciting event. we will have a sovereign wealth fund which we have never had. we have a lot of things that create wealth. you are seeing that over the last two weeks. i think we have created more wealth. other people have createde-we alth. we are creating a lot of wealth. scott, maybe you want to say something about it, howard, you want to say something about it? >> yes, sir, very exciting. we are going to extend this thing up within the next 12 months. we are going to monetize the asset side of the u.s. balance sheet for the american people. we are going to put the assets to work. i think it will be very exciting. going to be very exciting. we are going to study best practices from around the world. it will be a combination of liquid assets, assets we have within this country, as we work to bring them out for the american people. >> the extraordinary size and scal

brooke rollins for agriculture secretary, howard lutnick for commerce secretconnor secretaryr hhs secretaryeffler for sba administrator who else? daniel driscoll for army secretary. kash patel for fbi director and tulsi gabbard director of national intelligence. all being held up because the democrats do not want them to get to the floor. if they get to the floor they're going to require cloture vote in order to get past the filibuster. so soon, to his credit they're working at night, the work over the weekend they're going through this process in order to hopefully to get most of these people through print and want to talk about three republicans in a moment. but i am not done. voted out of committee but they went for a floor vote rest for omb director, why? because he's a fiscal conservative they do not want him. i guess they want some leftist under donald trump. who else question released a phonic for un ambassador. what is the wait for? awaiting procedural floor vote on nomination. scott turner, hud secretary holding up the hud secretary? pam bondi for attorney general for attorney gene

scott bessent and howard lutnick likely to lead the effort. the sale of tiktok. we've heard rumors of this in the past two years. lisa: there are a lot of questions. where are they going to get the money? is it from oil and gas the way it has in norway and some states? what are the parameters about what they can invest in? is it a matter of just investing in pharmaceutical companies you are buying syringes and vaccines from? is this something some kind of strategic fund that can be allocating in a very specific way to try to get money? there's a question of who's going to run this? it is the apollo global management co-founder leon black's son. there's a lot of questioning here that needs to be evaluated. it's actually an interesting idea and one that actually biden had a similar thought to. jonathan: do you remember the original deal? the original tiktok deal. this should be on a quiz at the end of the year. wasn't oracle and walmart? -- was it it oracle and walmart? the president argued treasury should get a cut for brokering the deal. does

as well as you mentioned this team of rubio, bessent, lutnick to negotiate whatever the deal looks likexicans are agreeing to now may be just the first step in what president trump wants to happen before the month. >> bret, it sounds like that. you had the president last night when he returned to the white house talking about trade deficits and that being a component of his gripe with these countries. he also in that discussion mentioned he would be looking at the e.u. and potentially u.k. to pursue some tariffs against them. we assume to achieve some sort of similar trade deal. but you did have the nec director come out this morning and try to sort of soften the president's remarks about this being about trade saying look, it is a drug war, not a trade war. the main focus for this administration is about illegal immigration and illegal drugs pouring across the border. it was something that president trump spoke about all through the campaign and in the lead-up to this coming into effect. >> dana: jackui, one of the things president trump did last night is in the quick video he did, he

howard lutnick specifically referred to this as bargaining chip and at expense of some short term painump will continue to use this tactic but most countries as evidenced by what's happening in mexico this morning will concede something and trump in turn will declare victory and our base case, stu, is that tariffs will only partially be implemented at best and probably prove to be temporary. stuart: this is a rosie scenario. if you can just fix the tax and figure out the tariff situation, you can move onto extending trump's tax cuts. then move onto doing something about interest rates because as a clash between jay powell and federal -- and president trump. this is a fairy rosie outlook right now. would you agree with that? >> from steve forbes' mouth to actor's ears. look, there's a lot that has to go right here and i'm sure we're going to have bumps along the way. the market pulled forward a tremendous amount of performance and end of the day, you need good tax cuts but above all and i said it last week, we need companies to deliver earning ands we're in the throes of earnings season

barrasso told me will probably have five confirmed cabinet members this week including pam bondi, howard lutnickout that, always a pleasure good to see you. >> newt gingrich, we'll be right back. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management maria: welcome back a government agency can be completely shut down a president trump gets its way. cheryl casone with the details. >> knew this morning the staff with usa has been told overnight the agency headquarters will be closed today there to work remotely and thus are essential to be on site, this is a live shot of the building right there, in washington. elon musk did say that president trump agreed to shut it down he made on a live exit video session. watch. >> i went over it with them in detail and he agreed we should shut it down and i checked with them a few times are you sure yes, we are shutting it down. >> foxes

negotiations headed by secretary of state marco rubio, treasury secretary scott bessent and howard lutnick and high level representatives from mexico. i look forward to achieving a deal between our two countries. the president deployed some of his economic advisors to shows this morning to explain it wasn't about punishing consumers. it was about something else. >> president trump was absolutely 100% clear that this is not a trade war. this is a drug war. there are perhaps 100,000 people last year that died of fentanyl. fentanyl is coming in across the mexican and canadian borders, 95% of mexicans want the drug war to end and the same is true in canada. >> the only event on president trump's schedule later today at 3:00 p.m. celebrating the stanley cup win of the florida panthers and about the time he will talk to trudeau. we'll see if trudeau can head off the tariffs there for a month. will he talk to china's president xi who he is threatening with 10% tariffs as well? >> harris: peter, thank you very much. there will be as peter is pointing out, if something doesn't get worked out with c

maria: treasury secretary scott bessent and commerce secretary hopeful howard lutnick leading the project. it's unclear how the fund will be capitalized but trump previously pitched using tariff money to fund it. the largest sovereign wealth funds in the world are owned by norway, china, hong kong and the emirates. i think the question of who will fund this is the most important question because you don't see treasury funding a sovereign wealth fund when treasury is using extraordinary measures to prevent default, okay, and there's some analysts this morning at td co co cowen writig this, we worry this could be used to make politically motivated investments, we don't see either party turning over the fund to independent managers and who is going to fund this. your thoughts. >> you have other sources of revenue. maria: i love the idea, by the way. i'm trying to drill deeper. >> there will always be structural things that come up. i would love to manage it. we have the ability, we're the wealthiest cup tri in the world, we -- country in the world, we have the ability to create side projects

with the secretary of state marco rubio treasury scott bessent and commerce secretary nominee howard lutnick over security and trade the administration stressing that the tariffs are about illegal drugs and illegal migration not a trade war and some canadians are hopeful. >> i know they spoke about the border and trade and i expect that they will continue that conversation when they speak later this afternoon. i am certainly hopeful that we will find a pathway that is going to be a win-win pathway for the united states of america and for canada. >> white house officials telling me that they engaged with business industry groups as well as individual companies to see how this impact or the tears would impact the economy from the source. it looks like the canadian prime minister at this point begin. >> candida is very tough they're very, very tough to do business with and we can't let them take advantage of the u.s. they don't take her agricultural product for the most part they don't take our cars, they make cars but they basically don't take our cars. >> president donald trump saying candida

pam bondi and howard lutnick expected to be confirmed next week as kash patel gets high marks after his gabbard and robert f. kennedy jr. sail through as well? if senator john barrasso is here on the president's cabinet and his agenda, next. ♪ ♪ maria: welcome back. the senate returns to capitol hill tomorrow to continue confirmation hearings for president trump's cabinet nominees including voting for cloture for pam bondi as u.s. attorney general expected sometime in the afternoon, then next friday republican senators are headed to the mar-a-lago, invited by president trump to hash out next steps on executing his bold agenda. joining me now is senate majority if whip, wyoming senator john barrasso. senator, thanks so much for joining us this morning. >> thank you, maria. maria: let's get right to it. you are on the senate finance committee that will vote on robert f. kennedy jr. on tuesday. do you believe kennedy has the votes to get confirmed as hhs secretary? >> we're working very hard to make sure that that happens on tuesday but first, maria, we are just two weeks into the trump ad

that's going to be under howard lutnick and scott bessent. it's a good whole thing. the thing, dasha. prior to 1913, i don't know if you know this, probably nobody knows this and less you're a hard-core looker, this government, united states was built on tariffs. jefferson, hamilton, mckinley. mckinley ran on a platform i am a tariff man running on a tariff platform. boss got this great charter imagine this work shows the percentage of revenue from tariffs. it's up there, right? it's like near 100%, goes on like this in the we passed the income tax and a ghost just like this, flatlined. point is that, that tariff revenues are going to play a very important role and is going to be part of a long-term transition period president trump loves to say, countries don't have to pay tariffs if they invest here. >> let's talk about china. because that is a big factor here. i am curious why 10% for china, never say but 25% for an ally like canada. >> well, it's the size of the market and the economy. we already have substantial tariffs on transfer trump talked to on the campaig

him and howard lutnick and others to make sure we can have a renaissance in u.s.y and our agriculture economy. we need to be the supplier to the world of food and agriculture products whether it's ethanol, poultry, dairy, any product. >> john: you are on the family farm there and those are impressive grain silos. i don't know if you come to us from the cab of a tractor or something else but impressive back drop you have there. senator rand paul was one of several republicans who expressed concerns that obviously tariffs could be a tool for leverage but if they go into effect they act as a tax on literally all americans. what do you say about that? >> yeah. if i look at canada as an example. we import potassium from canada. we don't have that in the united states. when that tax comes in or that tariff goes on at 25% it will cost us 25% more to produce that crop for that fertilizer need. so to make sure we live up to our commitment making sure we lower the cost to consumers -- >> john: looks like we've lost your audio there. i guess as modern as that tractor was it

>> howard lutnick is a dealmaker, and he said it best.re going to invest substantially in a company, if you're a private equity executive or if you're a foundation or you're giving must be to a private entity hike they did with the covid vaccine, the united states government should get some sort of equity participation in that. so i think you're going to see all sorts of things go into that. hopefully, a bunch of crypto. hopefully when hay sign a massive -- they sign massive contracts with enterprise, they get some equity in the participation to the upside that the taxpayer has funded. this is a turning point in america. it's time for us to stop being this broke nation of a fiat currency where we keep printing money into infinity, to start having some real monetary, financial assets that we can point to for the long-term health of our country. i'm really excited. stuart: it's a big switch. mike lee, appreciate president it, sir. >>> coming up, prime minister benjamin netanyahu is going to be at the white house later today. is he look to g

. >> scott bessent and howard lutnick are leading the project over the sovereign wealth fund.s unclear how the fund will be capitalized but trump has previously pitched using tariff money the larger sovereign wealth fund of the world are owned by norway, china, hong kong and emirates in the view this morning from td cowan is the following we do not see how treasury can fund a sovereign wealth fund will treasury is using extraordinary measures to prevent the united states from defaulting on the debt. you have that playing out charger is tapping all available pools of cash to ensure the united states can pay its bill diverting funds from the stress sovereign wealth fund can bring forward the x state when the u.s. default on its debt that's also something to think about. >> are we waiting for this default on the debt every year every month when will this stop and how do you want the treasury to pay for this were the wealthiest country in the world and we have the money to do it and by the way we have the world's reserve currency so what if we. more to pay for or philip the wealth

. >> jesse jameson pitcher lutnick. >> for right now, call 911 if you have. it's very important. the police department has a very robust way that they deal with missing persons cases. so if you haven't seen somebody, you think somebody might have been in this area. there's a you have a relative in this area and you haven't seen or heard from them, and you're concerned, call 911 and we will take it from there. >> thank you. that's it. that's it. before we conclude, let me state for the record, managing director, police commissioner kevin bethell, dominic, our fire commissioner, i have to say a special thank you to each of you for your leadership. to my senior team. tiffany thurman, chief of staff for the city of philadelphia. sincere harris, chief deputy mayor vanessa garrett harley, chief deputy mayor and the entire parker administration, cabinet. thank you all so very much for your support and the hard work that you are demonstrating. we will get through this and we will get through it together. thank you all so very much. and we'll report back later. >> all right. still unclear

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and as yet unconfirmed, commerce secretary howard lutnick to be. >> leading the. >> united states negotiations around this issue. the sum total of this, though, is that. >> these 25%. >> tariffs on goods from mexico. >> kicked back. >> another month, something that the president said as recently as friday could. >> not be. >> done. >> saying he didn't want. >> any concessions. >> at that time. >> now, having been granted. >> some, the tariffs are delayed. >> and garrett, this. >> is. >> important that. >> we mention that this is actually happening in real time as we speak. the president. >> of mexico. >> holds her daily news conference from. the palace there. the presidential headquarters in. >> mexico city. she holds. >> these press conferences. >> every day. >> but this morning. she essentially led. >> that with. >> these statements. >> and. >> garrett, important. to underline. >> the 25%. >> tariff is put on. >> hold for. >> a month. >> the president. >> of mexico saying. >> that that was by mutual. >> accord, 10,000 soldiers, national guards. >> from mexico. >> will. >> be sent to the bord

. >> with howard lutnick and others in the administration tell me that perhaps in march there's a window again. but most of this is so unpredictable. >> i mean, the president has decided now to make gas in the united states more expensive. he's decided to make groceries in the united states more expensive. and our retaliation is going to cost americans jobs that it's completely ridiculous. >> i think that's what's been so unnerving is the fact that this will, in fact, hurt american consumers as well. now, look, kate, no one's saying that canada would win a trade war with the united states. all canada is saying is we don't want a war at all. but again, this has turned into a cancel. america and anti-americanism that i have never seen. i want you to listen now here quickly to just one of the chorus of boos that we heard at at least one nba game, nhl games over the last 24 hours. i mean, kate, i've been to games and hockey games. we actually know the words to the u.s. anthem. we at least applaud politely afterwards. this has taken on a whole new tone in canada and canada, and i want to get

his commerce secretary, howard lutnick, would say, this is how we play ball.his is how, you know, we you know, we use a little muscle. >> well, if he's going. >> to do that, you would give more time, right, to actually negotiate. so the fact of the matter is tomorrow morning, february 1st, i mean, you know, it just doesn't make a lot of sense. i mean, once these tariffs get put in place, there's a whole host of uncertainty as and ceos don't like uncertainty. investors don't like uncertainty. i think that's one of the reasons why those oil stocks got hit so hard. so again. we can think about what the base case policies should be that make the most sense for our economy. and we also have a little bit of the playbook from the first administration. >> i just. >> think that this time they're going to use a bit more of a scalpel than they were just kind of, you know, using that hammer, which was really a threat back then. and now i think they really do want to implement this. >> okay, john, there are scores of americans, sad to say, that aren't watching this news or

. >> howard lutnick is laughing. i don't think trump was kidding, though, when he was. his anger about this, this editorial and how they're how they were viewing his his trade moves. >> no, not at all. i mean, we know how much he pays attention to those headlines. and by the way, also watches the market. i did ask a source today about whether the wall street journal headline, whether seeing the futures go down had an impact on him sort of backing off of this. i got two different answers from two different people i talked to. one said absolutely. the other said no. he really believes that immigration and this drug crisis are his biggest mandates. and he spent the day with laken riley family, and that shook him to the core. and he's not watching for what anyone else is doing. he wants to deliver for for these families. but we know he's watching. >> yeah, he kind of dismissed the stock market when jeff zeleny was asking him there about it. but i mean, he does care and value the stock market a lot. it's one of the biggest indicators maybe to him. >> well, it's another examp

this charges your secretary of the treasury scott bessent and your secretary of commerce, howard lutnick to begin a process that will hopefully result in the creation of an american sovereign wealth fund. >> it's a very exciting event. we're going to have a sovereign wealth fund, which we've never had. we have a lot of things that create wealth. and you've seen that over the last two weeks. i think we've created more wealth. other people have created the wealth. the people, my predecessors, we're creating a lot of wealth. scott, maybe you'd like to say something about it. and i'd ask also howard to say something about it. >> yes, sir. there's a very exciting. we're going to stand this thing up within the next 12 months. we're going to. monetize the asset side of the u.s. balance sheet for the american people. we are going to put the assets to work. and i think it's going to be very exciting. we're going to study best practices that's done around the world. it will be a combination of liquid assets, assets that we have in this country as we work to bring them out for the american people.

so the next step on that front will be for marco rubio, scott bessent and howard lutnick to lead negotiations with mexico over the next month to see if a more permanent deal can be worked out. mike. >> all right. megan. >> nine hours left. >> plenty can happen. >> as. >> we've seen in that span of time. megan. cassella thank you. let's bring in dan greenhaus from solus alternative. >> asset management, wells fargo investment institute. >> sameer samana and invesco's kristina hooper to talk about. >> how all. this applies. >> to markets. so, dan. i guess. >> you have to have some kind. >> of theory of the case here. if you're an investor, about the probabilities of the various tariffs taking effect, how long, what the. >> passthroughs are. i mean, all. >> of these things feels. >> like. this kind of. >> decision chain. you have. >> to go down if. >> you choose to. >> all of which is very easy to do. exactly. so the point is, do you try? >> do you try to. >> be precise about it, or how. >> do you think the. >> market is. >> just digesting. >> all the probabilities? >> i don't think there's any.

treasury, and yet to be confirmed, but assuming that will be done soon, secretary of commerce howard lutnickitive, some positive comments, positive developments and being reflected of course, with an s&p well off the lows of the session now down some 0.6%, nasdaq down about 1%. what does this all though going to mean for the global supply chain overall. well let's turn to lori ann larocco. she's our reporter on that has more on the states that could see the biggest impact lori ann. >> yes, yes. david. so when it comes to the states that are going to be impacted, it's actually the businesses, right, that that reside in those states. and we've got fresh data here for the audience. according to research firm trade partnership worldwide, they actually compile all of this data from customs. and so the business of the states in the states of texas, california, michigan, illinois, ohio and georgia, they will be paying the most tariffs, tariffs. texas actually tops. >> that tariff. >> list at $47 billion. now, based on what companies paid in tariffs from june to november of last year, the new rates

you remember lutnick was on, or all these guys are in the campaign.they really wanted this to come on. and there was going to be something coming from this. after that conversation, i thought maybe they don't. >> but you heard those comments by president trump. bring it back to the united states and pay no tariff. what does that tell you? is that a temporary tariff if he gets rid of the tariffs that canada that he just put he's going to put on canada, that doesn't change the issue of making in the united states. look, he has a different idea about how to tax the country and where revenue ought to come from. he's he's praised tariffs as being the best solution to a lot of different problems. so i don't know i feel like there's two different things going on. i think kevin wants these things to be temporary. he comes from a part, i think, of the republican party that still believes in free trade. there are those people that that have that for years and decades of republican party. >> he's been in the room. and you know that president trump watches, and a

by secretary of state mabio, secretary of treasury scott bessent, and secretary of commerce howard lutnick, and high-level representativeexico. i look forward to participating in those negotiations with president sheinbaum and we attempt to achieve a deal between our two countries. meanwhile, reuters writing, the white house says that while mexican is serious about president trump's order on terrorists, canada has misunderstood the tariffs that the president put on it to be a trade war between the neighboring countries. >> good evening. today, the united states informed us they will be imposing 10% on canadian energy. a decision that should they elect to proceed with should take effect on tuesday, february 4. [speaking in french] tonight, first, i want to speak directly to americans, our closest friends and neighbors. this is a choice that, yes, will harm canadians, but beyond that, it will have real consequences for you, the american people. as i have consistently said, tariffs against canada will put your jobs at risk, potentially shutting down of american auto assembly plants and other

by secretary of state mabio, secretary of treasury scott bessent, and secretary of commerce howard lutnick, and high-level representative