get to the headlines with bloomberg first for news, here is mark crumpton. mark: thank you.ocrats have ramped up their attacks on president trump's policy of separating immigrant children from parents across the mexican border illegally. toeral lawmakers traveled texas to tour a former walmart that has been turned into a detention center for 1500 boys. the trump administration calls the policy a deterrent to illegal immigration. moments ago comments at the white house, the presidents of the u.s. will not be in his words, a migrant camp, and again quoting, not on my watch. police haveer stopped about 100 migrants from reaching the border with croatia. the group has moved toward croatia where hundreds have been staying in makeshift camps while looking for ways to reach western europe. migrants have recently turned to bosnia in order to avoid more heavily guarded routes through the balkans. in other news, in japan, an earthquake has killed at least three people and injured more than 200 others. quaclick struck osaka -- osaka with a magnitude of 6.1. many factories stopped produ

david: we turn now to mark crumpton. as tensions increased between nato and russia, the allies's secretary -- the isiance's secretary-general welcoming the meeting between vladimir putin and president trump. nato's approach to russia is one of defense and dialogue. >> it is important to meet because russia is our biggest neighbor. we need to work for a better relationship with russia. there is no way we can improve that relationship with russia without meeting russia. dialogue is not a sign of weakness. dialogue is a sign of strength. mark: he added that nato does not want to isolate russia. melania trump is heading back to the southern border of the united states. she is expected to visit centers housing migrants apprehended at the border. mcallen, texas. she met with children it one of the facilities. a federal judge. ordered this week that thousands of migrants of migrant children and parents be reunited within 30 days and sooner if the child is under the age of five. hundreds of syrian refugees in lebanon began crossi

i am mark crumpton. this is bloomberg. i am mark crumpton. this is bloomberg. julia: lies, i am julia chatterley. we're 30 minutes from the trading day. global central-bank action. what didquestion is you miss? >> history in the making or less than six hours away from president trump passes meeting with kim jong-un. more on the high-stakes gamble. trade tensions take a turn for the worse. president trump called the canadian prime minister to sonic -- dishonest and weaken while navarro said there is a special place in hell for justin trudeau. so what happened now -- what happens now? investors watch for s of a steady pickup in inflation tomorrow all before the fed is seen waste -- raising rates on wednesday. julia: a countdown to the historic summit. president trump will be the first sitting u.s. president to meet face-to-face with a north korean leader. the possibility of several decades of hostility, the threat of denuclearization and easing isolation all hang in the balance. joining us now from singapore is bloomberg's chief washington correspondent, kevin. c

now first word news with mark crumpton. trump julie: i think we're having some technical difficulty here with mark's microphone. we will bring him back in a moment. back to the markets. we want to bring in peter cecchini here with us from cantor fitzgerald. as we see the selloff going on. thank you for joining us. so you have been talking about this sort of false safe haven premise over the past several weeks. that we see money going to the russell 2000, for example, but that that is not really a safe place for people to be. we seem to be seeing that today, the russell 2000 selling off with everything else. peter: it is an extra convenient narrative. those companies tend to be domestically oriented when it comes to revenue streams. they will not be as affected by tariff concerns. ont applies to some extent its face, but when you dig deeper and you think about how small cap companies are positioned, they supply the large cap companies. and if you look at history, small cap companies are not isolated from global slowdowns. mo

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, the amanda. -- meet amanda. -- i am amanda lang. here are the top stories we are following. president donald trump at odds with leaders on issues like trade and iran. this is one of the most closely watched g7 summits in years aired president trump will leave the g7 -- summit earlier to meet with kim jong-un. shares fall after a drop in iphone components, but is it just annoys? -- noise? hire today reversing earlier declines. the dow is gaining for the third consecutive session. the s&p is headed for a third weekly gain. this would be the largest since january. we are seeing energy and tech leading declines. apple and the report that it could be buying fewer components from its suppliers. all in all, a pretty positive week for u.s. equities. take a look at this chart on the -- library. we are watching -- amanda: we are watching the u.s. dollar to canadian, the u.s. will trade weaker u.s.

let's go to bloomberg first word news with mark crumpton. mark: thank you. as kevin cirilli was just telling us, paul manafort is headed to jail. the president's former campaign chairman -- the judge in the hearing was amy berman jackson. she said she struggled with the decision, but said, manafort, you have abused the trust placed in you six months ago. the president's former personal attorney, michael cohen, might be willing to quiet rate with federal investigators. he has not met with prosecutors to discuss a potential deal, and if you does quiet rate, it is unclear what kind of information he will provide. reportedly feels increasingly isolated. the president said he's no longer his lawyer. greek lawmakers are debating a no-confidence motion against the government over its tentative agreement to end the dispute with macedonia over its name. hundreds of people protested outside parliament in athens, waving greek flags and shouting slogans, accusing the government of treasonous behavior. the two countries decided macedonia would change its name to north ma

i'm mark crumpton.is bloomberg. ♪ ry: president trump declared yesterday there is no longer a nuclear threat from north korea erratum -- north korea. both countries have yet to outline a concrete plan for what the kimr regime has agreed to do. we welcome bruce bennett. thank you so much for joining us today. let's start with the basics. how extensive is north korea's nuclear program? >> we don't know for sure. north korea does an excellent job of hiding these things. it has 10,000 underground facilities around the country. number ofhe facilities probably in the range of about 100 facilities we have to specifically pay attention to. shery: how difficult would it be to denuclearize and verify the process? what steps should be taken to guarantee this exley happens -- this actually happens? >> many of these facilities, we don't know for sure where they are at the stage. we have not gotten a full declaration from north korea. that is the first step in denuclearization. they have to tell us what they have bee

mark: i am mark crumpton the first word news.intense political pressure and following days of domestic and international condemnation, president trump ended the process of separating children from families after they were detained crossing the u.s. border illegally. said, i think anyone with a heart would feel strongly about it. we don't like to see families separated. he continued, we don't want people coming into our country illegally, which takes care of the problem. commerce secretary ron's faced ross faced tough questions about the steel and aluminum tariffs. >> do you consider these tariffs to be attacking american families? you are putting jobs at risk and destroying markets, foreign and mastic -- and domestic. >> the actions taken by the president are necessary to revive of america upon's and aluminum industries -- steel and aluminum industries. allowing this to continue unchecked impairs national security. mark: ross said the tariffs will reduce imports to the levels needed in the united states to achieve long-term viabi

going to first word news with mark crumpton. mark: the u.s.orado baker who would not make a cake for a same-sex couple. the justices said the bigger did not -- baker did not discriminate when he refused to make the cake, but it was a narrow ruling that did not address the broader free religious right issues that prompted the justices take up the case. president trump scheduled to meet with the north korean leader kim jong and in singapore next week. the two countries plan to discuss denuclearization and regulations between washington and pyongyang. james klapper tells bloomberg, that the focus should start with the basics. >> rather than thiabout me grand bargain on denuclearization, which i do not think will happen, it would be useful -- when i have done nothing wrong. rudy giuliani said if the president did part of himself -- didn't pardon himself, it would lead to impeachment. the united nations nucle watchdog calling on iran to cooperate with inspections. agency said iran was below the maximum level of uranium did the deal allows it to enr

i am mark crumpton. this is bloomberg. scarlet: it's 1:00 p.m. in new vonni: it's want to talk p.m. in new york, and vonnie quinn. hery: i'm shery ah welcome to "bloomberg markets." vonnie: here the top stories of the bloomberg and from around the world that we are following. president trump and qingdao moon -- kim jong-un set to meet in singapore. we talked potential outcomes. decision times for the fed ofths announcing rate decisions within 24 hours of each other. with investors looking for direction. retailpocalypse is over. there's evidence we will guard is figuring out how to manage and -- inventory and adapt. julie hyman is with us halfway through this auspicious trading day. we are seeing further gains. julie: we are not seeing enough to recoup the losses at the end of last week and push the nasdaq to a new record, but nonetheless, stocks have been strengthening marginally throughout the day after the dow opened just a little lower and it's now moving a little higher here. the fireworks could come

up david: we turn now to mark crumpton for the worst word news. ring that when gary: was it topic and him, he economyk numbers on the from president trump. he said he was concerned about mr. trump would share them official.y were larry cardinal who took over from gary: as the economic director is following the protocol used with other presidents, and gives mr. trump the figures are day early. the supreme court has come out with a ruling in one of the most cases.ated justices said a bigger in colorado did not illegally discriminate when he refused to make a cake for some six weddings. the ruling was narrow, and did not address civil rights issues which prompted the court to take over the case. this organization has announced a multistate bus tour this summer to get people motivated and register to vote. student from marjory stoneman douglas high school in parkland, florida are calling it much for our lives, road to change. it will make at least 50 stops in more than 20 states. a gunman killed 17 people at the school in february. in guatemala, offici

let us go to mark crumpton.considering meeting with the russian president next month. bloomberg has learned possible dates include july 11, below the nato summit in brussels, or after july 13 when president trump visits britain. the secretary-general says there is no guarantee the transatlantic alliance will surprise. nato has been shaken by president trump's american first stance. effortberg called for an to strengthen the military alliance saying "we have overcome these differences every time you are cold u.s. to is urging the reconsider pulling out of the top human rights body. gutierrez spoke of the merits. >> i do believe that the human tohts architecture is a key come at the present moment, in order to promote and protect human rights around the world. mark: russian foreign minister viewssed his similar saying he hopes washington's decision is not final. the u.s. withdrew from the council earlier this week accusing the body of being biased against israel and of allowing countries with for human rights reco

i'm mark crumpton. this is bloomberg. david: thank you, mark. set to prepare steel quotas and tariffs on china and others, responding to american steel tariffs. saying that as they understand it, they are worried that a lot of the stale won't -- a lot of the steel won't go to the united states, it will come to us. you can see the dollar bouncing around on that roof or, initially up against the canadian dollar, bouncing around and back down to where it was. now we want to welcome kevin cramer, representing his home state of north dakota for five years now. he said that it's time that he moved up replace heidi heitkamp is one of the two senators. the congressman is coming to us from the capital. thank you for your time. representative raymer: thank you. david: as we see this around the world, harley davidson overseas, canada saying they are imposing new tariffs. worry thatnt do you your party will be blamed for these ramifications, including in north dakota, for your constituents may not be so pleasant. one, i'm concerned about it now. i've been c

i am mark crumpton. this is bloomberg.: let's get back to the big story of the day, a historic summit between president trump and kim jong-un. what does the u.s. walk away with? let's welcome congressman ami bera of california, a vice ranking member of the house affairs committee. you are also cochair of the congressional study group on korea, and you were in seoul just recently. what will the reaction be on presidding military exercises with south a? will that affect thce? rep. bera: first, thank you for having me on. i think itfor us to be talking about suspending military exercises with them close friends and allies in south korea. , but yourrst step prior guest laid out the complexity of how we get fhere . the president may have been premature in saying, we will stop doing our exercises. maybe a bit premature in talking about withdrawal of u.s. troops. we have lo interest in t region and we cannot show any split between our friends in south korea and allies. david: i am going to put you on the spot and admitted right u

the first word news with mark crumpton. nniversary of the republican tax-cut law. it provides generous tax cut for corporations and the wealthiest americans and more modest reductions for middle and low income individuals and families. >> we unleash an economic miracle signing the biggest tax-cut's and reforms. word reform. the that is what is really doing it. the biggest tax-cut's in american history. : it is behind president reagan's in the 1980's and post-world war ii tax-cut's. candidate is announcing billions in retaliatory tariffs against the united states in response to steel and on canadian aluminum. some items will be subject to taxes of 10 or 25%. today wereeasures announced in hamilton, ontario. has no choice but a dollar for dollar response. mark: we will not escalate and we will not back down set of the escalation. in a letter to what many people said, the advisory board said it was not involved in the decision to increase transparency and usedc access to the signs to craft regulations and only learned of the mo

i am mark crumpton, this is bloomberg. scarlet: thanks, mark.y for the devils of stanley cup winner. breaking news, qualcomm is cutting jobs. 241 jobsny eliminating at its design center in raleigh, north carolina. 43 in california. this according to notices filed with those states. willotal number of cuts represent up to half of the service unit employees. this is according to a person familiar with the matter. we will keep you posted to. -- posted. sec says the second-most valuable cryptocurrency is not a security. directorng in research for crypto research. how do youus peter, determine whether or not this is a security and why is this important for investors? peter: thanks for having me. you determine if it is for security and buy it, we are talking about any kind of open block token i am presuming, there is a flexible court determined standard called the howie test. .et the meet the four prompots it is reliance on the efforts of a third party promoter. you look at all of these things out and crypto land whether it is bitcoin or whatever and

i'm mark crumpton. this is bloomberg. julia: a seat selloff across the major averages with that getting hit the hardest. we have the dow heading for the 200 day moving average for the first time in over 500 days. the ones under pressure today, all sorts of trade lines thrown into the mix here. we break down some of the price action. abigail: i like the technicals you mentioned. here is the selloff we are looking at today, going into the close. all sharply lower off the lows. the dow and s&p 500 had also been down about 2%. it is really the nasdaq on pace for its first day since early april on these trade tension fears, ratcheting up once again. this is not new for the dow. days, we see a0 steady and steep decline for the dow up over these last 10 days. mentioned,nd as you taking the dow below the moving average. aspect matters on the dow, let's hop into the bloomberg and look at a one-year chart of the s&p 500. you can view this chart at home using bloomberg. see the beautiful uptrend and the 100 day moving average, telli

david: we turn to mark crumpton for first word news. as we have been reporting, a divided supreme court said government employees have a constitutional right not to pay union fees. the ruling affects 5 million workers and deals a blow to the labor movement. feesl alito said mandatory violated the free speech rights of workers who disagreed with the union's positions. this included the illinois state worker, seen here in a blue jacket. takenected to the $45 from his paycheck each month that went to the american federation of state, county and municipal employees even though he is not a member. president trump said the ruling amounts to a big loss for the coffers of the democrats. the president is making a last-minute pitch for the latest republican immigration bill on track for defeat. lawmakers should pass this, days after he said they should stop wasting time on the thentil after november midterms. the bill would provide a shot at citizenship for hundreds of thousands of immigrants brought illegally to the u.s. as children. it would pro

you.ank let's get you to mark crumpton. bi director james comey is responding to today's justice department report on the hillary clinton gmail investigation p doj says comey breached protocol handling the probe but his actions were not politically motivated. in an op-ed article for the new york times, he writes that while he did not agree with all of the doj and inspector general's conclusions, he respects the work of his office and salutes professionalism, adding he and his team chose the course most consistent with institutional values. secretary of state mike pompeo says after meeting with xi jinping, charitybuzz -- the china's president, they have agreed that a peace process is beginning on the korean peninsula. he also noted washington's disappointment over beijing's move in the south china sea. >> also making progress on security. i reaffirmed our concerns with militarized outposts in the sea in danger in the free flow of trade, undermining regional stability. >> secretary pompeo also said all four nations agreed ther

i am mark crumpton. this is bloomberg. julia: live from bloomberg world headquarters in new york, i am julia chatterley. scarlet: i am scarlet fu. joe weisenthal is on assignment. julia: crude spikes ahead of opec's meeting. scarlet: the question is, what you miss? opec discusses the contours of an upper increase as russia versus for a big hike whi iran insists no changes needed. --me game over immigration children separated from parents at the u.s.-mexico border from as president trump blames democrats. handicapping the outcome of the election on financial markets and the economy on the election. the author of the new book "midterm economics" joins us in the next hour. bonds are clawing their way back following a post crisis retreat. topping $20 billion in 2018. tracy maitland of advent capital management, which has a $9 billion in assets under management. great to have you with us. tracy: thanks for having me. julia: we don't often talk about convertible bonds, and that is part of the problem. why are we seeing such grow

let's get the first world news with mark crumpton. mark: the head of the un's refugee agency says a bitter fight of which european country should take in a rescue boat carrying hundreds of migrants in the mediterranean is a disgrace for the eu u he spoke to reporters about the dispute involving france, italy, tiringand sinhis six and a nine migrants left from libya. theres a ashamed both roaming around the sea and that doesn't have a port for it to go to,w there is. untilabout the divisions, you have the divisions will not have a solution. mark: spain offered to take in the aquarius after others refused. is at aspecial envoy on mars leader in an effort to smooth relations in the wake of the rolling the crisis. crisis. toy forced 700,000 muslims flee the homes and take shelter and refugee to flee their homes and take shelter in refugee camps and bangladesh. officials call the military response ethnic cleansing and suggested it had post, the hallmarks of genocide. agela merkel is facing showdown over the feet over immigration. the countr

let's get to first word news with mark crumpton. lina house republican representative mark meadows says expectations from north korea have been elevated after the summit in singapore. the house freedom caucus chairman gushed over the historic in an inter today with bloomberg tv. >> not only did it go according to plan, it came off wallace because what the president and this administration wanted to do is set a new beginning, a new foundation for real one-on-one talks. if anyone were to have suggested , kevin, you and i, a year ago that this would have happened in year -- in singapore, we would have put the odds that less than 10%. mark: chairman meadow speaking there with bloomberg tv's kevin cirilli who is in singapore covering the summit. democrats were openly skeptical. they argued president trump gave leverage bynt committing to and joint military exercises with south korea. after intense lobbying that went overwhelmingleep clos europe. group formed by barack obama says it is targeting with sconce and thernor scott walker and con

david: for first word news, we go to mark crumpton. larry kudlow is defending president trump's tweet today were the president appeared to hint about a favorable jobs report one hour before the report was released. >> i make a call whether to let him know or not. it just so happens last evening i let him know. he likes to tweet. officials are typically prohibited from sharing the information before its official release, while the president appeared to have broken protocol designed to prevent investors from getting an early jump on the latest round of monthly numbers. president didthe not disclose any confidential data in the tweet. todayo rajoy parliament for the last time as spanish prime minister. he lost a no-confidence vote. corruptioner the convictions of former members of his conservative party. he will be replaced by opposition socialist leader pedro sanchez. venezuelan leaders say they are taking steps to release activists who government opponents considered to be political prisoners. they will begin reviewing cases today. upon

we turn out to mark crumpton. -- now to mark crumpton.as arrived ate the white house to meet with president trump. abeeportedly wants to press the president on north korea next week and on the fate of japanese citizens kidnapped for decades ago. he's made their return a key political issue. top judicial authority has taken over the elections commission after complaints of widespread fraud. and low turnout reflecting widespread anger at iraq's political class. nationalala, the disaster agency has suspended rescue efforts in the area devastated by an earthquake. at least 99 people were killed, 200 others are missing. bulk and makes it dangerous for rescuers. the trump administration is launching its first public service campaign with a series of new ads warning young people about the dangers of opioids. the ads will feature true stories of young people who've battled addiction. say they expect the donated add time to be $30 million. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'

. ♪ mark: i'm mark crumpton with first word news.exas republican senator ted cruz says he will introduce emergency legislation intended to keep immigrant families together. senator cruz says his proposal would double the number of federal immigration judges, authorize new temporary shelters that could accommodate families and mandate that families immigrating illegally be kept .ogether real is one of the tragedies of illegal immigration that kids are often the greatest victims. we can stop this with the legislation i'm filing this week . it would prohibit separating families and mandate that kids should stay with their parents. mark: senator cruz also says his proposal would provide for expedited processing of asylum cases. homeland security officials say there have been 100 48 cases where someone fraudulently posed as a family member of children at the u.s. border from october through april. the homeland security secretary there has been a 314% increase in adults showing up with kids who are not family members. she says they are tra

this is bloomberg. ♪ >> i'm mark crumpton with first word news.s detailing its plans to retaliate against u.s. tariffs. the country announced at the levy tariffs on a range of american farm goods, autos, and seafood. china will slap a 25% penalty on $50 billion worth of u.s. imports. they take effect july 6. president trump has responded on twitter to the jailing of his former campaign and a -- former campaign manager, paul manafort. house arrest was revoked. the president noted that manafort has represented ronald reagan, bob dole, and many other top political people and campaigns. did not noten, manafort was head of the mob. attorney general jeff sessions took his policy on illegal immigration to the graduating class of pennsylvania police academy. he said we will restore the loop -- the rule of law. but iteems unbelievable, is true that there is an open borders movement in the country. from coast to coast there are politicians and activists who think having any border at all, any enforcement activity taken is mean-spirited, unkind, even bigoted

i am mark crumpton. this is bloomberg. julia: "what'd you miss?"mmitf the chees meeting after president trump ripped up the agenda yesterday with the announcement on tariffs. the president double down on his nafta views of splitting it up into two separate deals. >> i would not mind a separate deal with canada where you have one type of product and a separate deal with mexico. these are two very different countries. it has been a lousy deal for the united states from day one. julia: our international correspondent is there with the latest for us. in my to put my head hands because i want to ask you whether these nafta negotiations are still going on or not in the light of tariffs being applied to the canadians and mexicans, and now discussion once again of it being broken down completely. >> i can tell you the negotiations are not going on right now. i have an answer as to whether there will be any kind of bilateral agreements. not right now. neither candidate nor mexico is interested in a bilateral agreement. canadiannts ago, the nafta negotiator

i am mark crumpton. this is bloomberg. when he was campaigning for president, donald trump said he would go after china on, now he has made good on that promise. the question is what this will mean for american business and consumers. we welcome republican congressman jim jordan of ohio, who helped to found a freedom caucus and served as the first chairman and comes to us today from the capital. thank you for being here. rep. jordan: good to see you. david: do you agree with what the president did today? well, looks, most americans are willing to give this president some latitude for the best trade deal for the united states. misgivings about tariffs in general -- i'm a free-trade kind of guy. we are one of the top manufacturing districts in the country. i understand the importance of this. ourthe folks i talked to in district, while concern, also understand that this president had a good first year and a half and they are willing to give him flex ability to negotiate better deals for our country. david: he asked how much

i'm mark crumpton, this is bloomberg. david: thank you.are down to the deadline ouththe dreamers. house conservatives are of bobng the approach tt and democrats have an a supporter of the bob goodlatte bill, dave brat, he comes to us from the capital. congressman, welcome back. rep. brat: thank you. david: let me ask you a question. what is the fight about? it seems to me the bill agrees something needs to be done about dreamers? on the other hand the moderates agree something has to be done about the border? isn't this just a negotiation about price at this point? rep. brat: not really. the major issue is, will this happen again? have you fixed the issue? the bill goodlatte bill has a keep these which has to do with legal hiring and that turns up the magnet. it has the wall. the compromise bill is the goodlatte bill, you have 700,000 kids who need a pathway out of the shows. $1.8dent trump said biion and mo sd no no one likes this political anxiety. we want to solve it. what keeps you from getting daca in three years? once you throw up th

i am mark crumpton, this is bloomberg. julie:e are 30 minutes from the close of trading. stocks are mixed. joe: the question is, "what'd you miss?" scarlet: the trump administration striking a deal to allow china's zte to get back into business. it could move the needle on stalled trade talks. pressure is on for brazil central bank, in freefall after support from policymakers failed currency. the theresa may narrowly avoids a rebellion for now. she was forced to held crisis talks on brexit amidst speculation that the brexit secretary was planning to resign. julia: "what'd you miss?" hikes rates, rates go down. holding that increasing number of all right targets increases inflation. but bring in stephen williamson, professor of economics at the university of western ontario. thank you for joining us. when the prime minister came out with this, there was a lot of head scratching among folks who follow central-bank policy. his ideas did not come from nowhere. can you explain the economic theories that explain this. i had hear

. ♪ mark: i'm mark crumpton with first word news.resident trump says the supreme court decision in favor of his ban on travel from several mostly muslim countries is a great victory of the constitution. during a white house meeting with republican lawmakers, the president also called the high court ruling a tremendous success. >> we just have to know who's coming here. the ruling shows that all of the attacks from the media and the democrat politicians are wrong, and they turned out to be very lookingnd what we are for as republicans, i can tell you, there's strong borders, no crime. mark: the president added that the ruling shows that all the attacks from the media and democratic politicians are wrong. meantime, the council on american islamic relations says the court ruling gives the trump administration a free hand to reinject discrimination against a particular faith back into our immigration system. >> the supreme court decision ignores the fact that this and candidate has targeted a particular faith community, which is muslims,

david: for bloomberg first word news, we turn now to mark crumpton. united nations secretary-general says the world is closely watching how the summit in singapore plays out and that the u.n. stands ready to support the process. he says he commended the leaders of the democratic people's republic of korea and the united states for pursuing a diplomatic solution. he also said the world body can assist with the verification process for denuclearization of the korean peninsula if requested by both parties. the london mayor says critical votes in parliament this week over prime minister theresa may's withdrawal bill is a defining moment for this generation of u.k. lawmakers. mayor con described the stakes today on blumer television. -- bloomberg television. >> it's about having an impact for decades to come. this vote is probably the most important vote of this generation of parliamentarians. it' only comparable to the vote of to go into iraq. it's that big. that vote to find that generation of mps. the votes taken place in october will define this generat

i am mark crumpton. this is bloomberg.avid: first it was steel and aluminum imported from around the world and then products from canada and out automobiles from europe that could be subject to tariffs. is someone who could have his constituents affected by this. republican roger marshall serves on the agricultural and small business committee and comes to us from the capital today. thank you for joining us. at one point do all of these tariffs which seem to come in to play everyday, are they felt by your constituents in kansas, and do they get concerned? >> this has been going on since february in kansas. the impact of these tariffs are impacting my constituency right now and americans have seen the result. the price of washington -- watching the scenes when up 17 -- washing machines when up 17%. price ofweek, the sorghum drop a dollar a bushel. david: what is the solution? are they listening to you? can we change the course? >> he is listening to us and he called me on the phone about a week and a half ago. he wanted me

i'm mark crumpton, it will be blue -- this is bloomberg.ve privilege the test as president trump raises the stakes in a crash course with robe mueller that could add and end. president trump took to twitter to say he has absolute power to pardon himself, not that he needs to. up, rudy giuliani had an they said that would lead to an almost immediate impeachment. circumstances, that would be a pretty extraordinary tweet from the president but rudy giuliani had a more interesting response. >> are you suggesting he might have been talking to the president of the television? he would not be the first. some people suggested that the lawyer might be communicating geomet -- communicating a message to him through his tv appearances. this whole issue started when this memo over the weekend between trump's lawyers and mueller was leaked. that is where we got a glimpse of this broad, wide stretching the president's legal team has been making about presidential authority and why the president did not have to and howuestions to them he wouldn't obstruct

i'm mark crumpton, this is bloomberg. julia? julia: thank you, mark.opment on immigration. president trump's meeting with angel families at the white house today. we are expecting remarks from the president at any moment. let's bring in chief washington correspondent kevin cirilli while we await the president. great to have you with us. we want to talk about what we are expecting from the president, but start by explaining what our angel families? who is he meeting with at the white house today? kevin: these are families who have had members killed by gangs or ms 13. the president has tried to give a voice to these families who have been victimized by gang members. folks who are here illegally. this is the type of operation, quite frankly, that they want to push back on. in immigration debate they feel gone to not give a voice to these families. campaigningt, while in places like arizona and southern california as well on the campaign trail, met frequently with these kinds of families. i even recall one event that we covered in philadelphia, inner-city

let's get to first word news with mark crumpton. mark: thank you. spade is dead at the age of 55. the associated press reports spade's body-- was found in her apartment. a suicide. it has more than 175 shops internationally. disgraced former movie mogul harvey weinstein they did not kill the in a new york courtroom -- pleaded not guilty in a new york courtroom. today's arraignment comes days after a manhattan grand jury indicted him on charges involving two women. his lawyer is challenging the victims.>> we are go file a sers of legal motions that will get us more information aimpact the. successful, there may not be a trial. if there is a trial, we will proceed expeditiously and vigorously to try and clear mr. weinstein's name. mark: manhattan district attorney cyrus vance junior has said it was editable that weinstein's camp would attack the integrity of the women and of the legal system. president trump wants separate trade talks with canada and mexico. but white house economic adviser larry kudlow says the president does not plan to withdraw fro

i am mark crumpton. this is bloomberg. david: thank you.mocrats appear to have dos a bullet in the california primaries despite concerns that the sheer number of candidates would cancel one another out. long way until november and the path for democrats to take back the house goes through suburban republican held district in california and new jersey with hillary clinton carrying in 2016. 7th in new jersey, our next guest represents, leonard lance, a member of the house energy and commerce committee and joins us from capitol hill. thank you for being back with us on bloomberg. you got nominated last night and will run on the republican side. you have an opponent. as you look to november, for your district, how do you see it? >> i believe the people in the district i surf want bipartisan cooperation to move the nation forward. why i am a i have -- member of the problem solvers caucus who worked in a bipartisan fashion to try to solve the issues confronting this country. david: i am not an expert but i did rough math looking at the votes, you

this is bloomberg. ♪ mark: i am mark crumpton in new york.t five people are dead, several others are reportedly gravely injured after a mass shooting at the capital gazette newspaper in annapolis, maryland. authorities say a gunman who opened fire inside the newsroom at the building housing the paper has been arrested. you are looking at a live picture from the office complex located in maryland. arrivedrnor larry hogan at the scene earlier and said he was absolutely devastated by the tragedy. >> it is a tragic situation. we don't have all the information yet and we can't give all the information yet. this is an active crime scene an investigation. but we have had several fatalities and several people that are in the hospital. tweetedesident trump that his thoughts and prayers are with the victims and families. the president also thanked the first responders for their efforts. meantime, the associated press reports that a federal official briefed on the shooting identified the suspect as a white male reportedly is not cooperating with investi

i am mark crumpton. this is bloomberg. julia: crude comeback.f losses in vienna. the cartel is discussing a compromise for an additional 300-600 barrels per day versus $1.5 million hike. , david,us for more great to have the with us. to give clarity, 1.5 million barrels the russians initially proposed is what many analysts expect it would be pulled out of the market as a result of the crisis and the nuclear deal, is that right? >> that was in the ballpark of investments arranged around there. russia's look for that end of number. what is being discussed is something very short of that. >> that was a big stream, russia proposing 1.5 million barrels .er day what appeared to not have been priced in? >> estimates of up to one million, 1,000,000.2. if we are to 300,000 to 600,000, it is on the low end of the range. >> why is that the compromise? >> it is hard to tell. he got to the venezuela production out of the market. a big wild card that cannot be what they were expecting limited the -- did this a year-and-a-half ago. but they also have to do wit

let's now get the first word news with mark crumpton. mark: thank you president trump discussed his priorities for next week's meeting with the north korean leader kim jong-il in. president trump: we cannot take sanctions off. sanctions are extraordinarily parent -- -- >> next thursday, meeting with the japanese prime minister shinzo abe in canada tomorrow. a man who drove a stolen truck in april 2017 killing five people and wounding 25 others has been convicted of terror related murder and sentenced to life in prison. the attacker said he wanted to punish him for joining a coalition against islamic state. his victims included an 11-year-old girl. attorneys for the florida schools -- school shooting suspect have asked a judge to block the release of what police say was a confession. the statement could cause significant from -- drama to a beleaguered community rocked by the shooting that killed 17 people at the -- in february. the statement would violate constitutional rights to a fair trial or the 19-year-old faces the death penalty if c

let's get to first word news with mark crumpton. tch mcconnell says the senate will on replacement for -- for supreme court justice anthony kennedy. the court's longest-serving justice, kennedy announced his retirement today. the 81 euro decided said in a statement he is stepping down after more than 30 years on the court. he was nominated by president reagan. he has held a some of the key swing votes on several issues, including abortion, and gay rights. president trump says he will probably be meeting with russian president vladimir putin during an upcoming trip to europe in july. president -- the president told reporters at the meeting will happen and else or indiana. esther trump said he would be receiving an update soon from national security adviser john bolton who is in moscow. the united states will take the unprecedented step of imposing sanctions on the nato ally when turkey receives a russian missile defense system. the state department official testifying before congress today said the delivery of the us for hundreds will

mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters, i'm shery ahn. live from the g7 in british columbia, i am amanda lang. shery: here are the top stories we are following around the world. jobs boom. president trump delivers a thumbs up tweet more than one hour before the official data was released this morning. we discussed the reaction and the report. canada's finance minister weighs in on president trump's assault on his strongest allies ahead of next week's g7 summit. more bad news for deutsche bank. the ceo trying to cheer up his staff, saying there is no reason to be discouraged after their credit rating was cut. we begin with breaking news. president trump is meeting now with kim yong chol at the white house. mr. kim is a vice chairman of the central committee. this would be the highest level north korean official visit to the u.s. in almost 20 years. for more details, let's go to washington where our head of national security reporting is following the story. bil

. ♪ mark crumpton with first word news.rs of the foreign relations committee say the senate should beed on any possible treaty that comes out of the summit between president trump and north korea's kim jong-un. >> it's very important we speak with is close to one voice as we can on this. we all want to succeed. this should not be a partisan issue. this suld be an opportunity for a successful singapore mmit. is going to be ultimately called upon to ratify any agreement which is reached, and it is going to be critical as a result of congress is brought along. mark: another member of the foreign relations committee, iowa republican jim rich, told reporters he haseen inrmed by the white house that the intent is to have a treaty submitted. hundreds of hawaii residents who already evacuated will return home to find nothing there. officials say lava from the corrupting kilauea volcano destroyed hundreds of homes overnight. love a has been flowing from lava has been flowing from fissures. the prime minister has promised a citizens

this is bloomberg. ♪ i'm mark crumpton.has rejected a republican immigration bill that would have given temporary protection to dreamers. the measure also would have eliminated -- republicans have delayed until tomorrow a vote on another republican bill that was put together by leadership as a compromise measure. for some lawmakers the immigration debate is personal. came to theemocrat u.s. as a child from guatemala. >> i was welcomed here. in a loving home. i was not put in a freezing cell . house speaker paul ryan said we are advancing the cause even if something doesn't pass. think this is the seed that is going to be planted for an ultimate solution.

i'm mark crumpton. this is bloomberg. julia: thank you very much, mark. a race to rebound.ceo shrinks the company in order to save it. bloomberg opinion columnist brooke sutherland met with ge ceo and she joins us now. a deal needsntly to add up. we have the all gone health care gone and the distributive power business spirit what did he have to say? brooke: this is most definitely not the ribs and drops. this is a radical break up. this is what people have been waiting for. i think this does go a long way toward simplifying ge to making it less of a conglomerate. john flannery views this as an opportunity to rejuvenate ge, to change the narrative in terms of the way the company communicates with investors. he is also looking at this not so much as drinking the company, but allowing it to flourish. if you want to think of it as addition by subtraction, or whatever, you think about the health care business. that has been starved for capital, starved for attention within ge. people ignore the fs is a good business. margins are increasing. revenue is growing. free cash flow is

this is bloomberg. ♪ mark: i'm mark crumpton with first word news.e been reporting, multiple people have been shot at a newspaper in an apples, erland. witnesses say a single gunman fired into the newsroom. people with their -- a newspaper in annapolis, maryland. the bureau of alcohol, tobacco and firearms is said to be on the scene. the newspapers are owned by the baltimore sun media group. the wall street journal reports that white house chief of staff john kelly is expected to leave his position sometime this summer. the journal says president trump is consulting advisors about possible replacements. heirs, bus -- chief of staff and mick mulvaney who heads the office of management and budget. the successor for chief justice anthony kennedy will face a confirmation by. those of us warn of massachusetts told the gathering, people around the country are worried and they are right to worry. understand, people are rising up. donald trump is not king. no one makes it to the supreme court without going through the united states senate. mark: republicans

there is mark crumpton. passed billion dollars spending bill to fund the energy department and veterans against for the upcoming budget year. 79, itte was 235-1 includes an increase for veterans affairs, including $1.1 billion to pay for legislation, to give veterans more freedom to see doctors outside the the a -.váuqs -- va system. the measure goes to the senate. victims from the pulse nightclub shooting are suing the city of orlando and police officers who responded. claims the suit officers acted too slowly and failed to protect patrons. the only plaintiff named in the suit was previously honored for his actions as the first person to exchange gunfire with the shooter. sent moren activists incendiary materials toward israel with the aim of setting feels on fire. have already caused blazes in agricultural areas and previous ones have carried explosive devices. the attacks are part of ongoing protests against the gaza blockade. beijing, xi jinping and vladimir putin pledged to support each other on key int

david: we turn to mark crumpton. u.s.by the supreme court today is likely to be cheered in statehouses across the nation. justices ruled that state local governments can collect billions of dollars in sales taxes from internet retailers that don't charge tax to their customers. justices overturned a 1992 ruling that made much of the internet a tax-free zone but states -- shielded companies from collecting taxes if it did not have a presence in a state area in moscow today, antonio iteris smoke of the councils -- antonio gutierrez spoke of the council's merits. >> the key to promote and protect human rights around the world. lavrov expressed a similar view, saying he hopes washington is decision is not final. the u.s. with drew from the counselor later this week, accusing the ball you -- the body of being biased against israel. the turkish president is running for reelection in a vote that turkey from a parliamentary to a presidential system. erdogan would see expanded powers that critics have compared to a one-man role. h

let's go to first word news with mark crumpton. has learned the trump administration plans to announce its withdrawal from the united nations human rights council. secretary of state mike pompeo and u.s. ambassador to the u.n. nikki haley plan to announce the action this act -- -- this afternoon. the administration has accused the council of hypocrisy and criticized it as being biased against israel. the u.n. commissioner for your human rights slammed president trump's immigration policy yesterday, calling separate -- separation from children "unconscionable." the topic has traded by's or peter navarro says beijing "may have underestimated the resolve of president trump by refusing to meet to u.s. demands on trade and by threatening to retaliate against american tariffs." navarro told reporters that the u.s. is open to talks to resolve the dispute before it imposes tariffs on up to 400 $50 billion in chinese products. he also dismissed the notion that the trade standoff would damage america's relationship with china saying president

with i'm mark crumpton "first word news."or syria welcomes six international delegations as he continues bloodshed in the country. representatives including those from the u.s., europe, and middle east met to discuss the possible formation of a constitutional committee to help bring peace. been failedhat has attempts to mediate talks between the syrian government and opposition groups. protesters into ron -- tehran stormed the grand bazaar. the demonstrations are being staged in anger over a ron's -- iran's troubles. our been reported confrontations between protesters and police in front of the parliament. north korea has decided to skip one of its symbolic and politically charged dates on its national calendar, the anti-u.s. lateral. it was designed to strengthen was a national holiday on july 27. north korea has soft and its criticism of the u.s. in recent months in