mnuchin: -- mr. mnuchin: i think a little bit of inflation is a good thing.f the aspects of the tax plan is we want wages to increase. the last eight years have not been great for the average worker and have not seen wages increase. a little bit of wage inflation is a good thing. energy prices have the potential to, as we become energy independent, i am not concerned about energy inflation, and there are lots of good signs on the horizon. stephanie: they authorized 65% i think since last summer. and we have is necessarily seen a big amount of u.s. supply. a lot of people thought it would win prices went up, that u.s. surprise would be upsetting. are you worried about that affecting working households in the u.s.? mr. mnuchin: again, i would say that we have a lot of liquid national gas. there is a lot of alternative energy. clean coal. there is a lot of opportunities in the energy markets. i'm a going to speculate where oil prices are. if oil prices were in the 40's, they would say they are going to 20. i'm not good at predicting where we are. we haven't seen

charles: is mnuchin solo or mnuchin and the others who are more free trade-minded? listen, it's a complicated thing. this team that was sent over there. >> diverging views. charles: mixed messages. >> diverging views, peter navarro is not someone you necessarily consider an open trader. he has a problem with the chinese. i get that. and mnuchin, you would say is one of the laissez-faire free traders. here's where it got interesting. when mnuchin started taking over the talks, that is when navarro went nuclear, and he basically confronted mnuchin several times, it was a very heated screaming match, but let's be real clear here. you're going to see stories that said mr. navarro has been suspended for not being a team player. charles: i've already heard that he's not at the meeting tomorrow. >> larry kudlow may not be at the meeting either. just so you know. >> for different reasons or the same reason? >> i don't know. i know the meeting participants are largely lighthizer, wilbur ross, mnuchin and maybe one other. my bigger point is this, what instigated this thing be

mnuchin.me back to "fox news sunday." >> secretary mnuchin: thank you, it's great to be here with you. >> chris: after two long days of talks, thursday and friday, where are we on the one hand on china agreeing to buy $200 billion more of u.s. goods in return for the u.s. dropping tariffs on $150 billion of chinese goods? >> secretary mnuchin: i'm pleased to report that we have made very meaningful progress and we agreed on a framework, which is important to understand. the framework includes their agreement to substantially reduce the trade deficit by increasing their purchases of goods. we also discussed very important structural issues that they are going to make in their economy to make sure that we have a fair ability to compete there. and also protections about technology, which have been very important to the president. >> chris: but china and one of the big things the president has said is he wants them to reduce the deficit by $200 billion, they reportedly refused to agree to that spe

coming up at the top of the hour, steve mnuchin.nterview. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. some moments can change everything. you can't always predict them, but you can game plan for them. for 150 years, generations of families have chosen pacific life for retirement and life insurance solutions to help them reach their goals. being ready for wherever life leads. that's the power of pacific. ask a financial advisor about pacific life. ♪ >>> welcome back to "squawk box" this morning take a look at the futures right now. we do have some green arrows after it appears that a trade war with china at least for the moment has been put on hold. we'll be talking to steve mnuch

the penalties that are proposed by secretary mnuchin are penalties in name only. they are a diversion from the fact that it seems president xi has outman tphaoufrd president trump and -- out maneuvered president trump and secretary mnuchin. the art of the deal it should be president xi who writes the book because he's taken us to the cleaners on z.t.e. z.t.e. was shank shunned in -- was stphaeufrpbd -- sanctioned in 2016. the company was further sanctioned when the commerce department discovered z.t.e. lied to the u.s. about plans to rectify the violations and president trump and secretary mnuchin, according to reports, have inexplicably excused z.t.e. of these inexcusable violations. but the president and secretary mnuchin, what they are doing sends a dangerous signal to businesses around the world that the united states is willing to forgive sanction violations or reduce penalties. it emboldens foreign companies to play fast and loose with u.s. sanctions when we should be putting the fear of god into these companies, especially one that was as brazen as z.t.e. i

mnuchin and mr.ro got into a shouting match with each other and apparently not within earshot of chinese officials although there are reports that it was chinese officials who leaked that shouting match. others claim that it was the treasury department that leaked it. who knows. so many leaks so little time. with us right now is the budget committee member dave brat, republican from the state of virginia. congressman very good to have you here. >> hey, neil thank you. neil: how would you feel, not so much about the alleged shouting matches between principles in the administration but on china trade if it's a watered down deal, it might not be everything like you wanted but it would be the first time the chinese have responded by trying to reign back their practices. >> yeah, i think everybody acknowledges, we started off with the tariffs et cetera got feedback from industry and architecture et cetera so a first move you've got to send a strong signal to them and at the same time, we're making up for

secretary steve mnuchin mnuchin is speaking in the senate right now. he says the u.s.enforce national security when it comes to zte. south korea is so confident there will be a summit between the u.s. and north korea. the national security adviser picks there is an undeniable 9% chance of kim jong-un -- there is a 99.9% chance of contentment meeting with president trump next month. bank of england governor mark carney has upgraded households -- says households are worse off. issaid the economic output off of estimates from the brexit vote two years ago. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. vonnie: taylor, thank you. steven mnuchin is testifying right now on the hill on the 2019 budget, but lots of things are coming up, including the zte potential deal. a says the zte issue is commerce department enforcement issue. he is talking about stealing aluminum tariffs, saying that -- steel and aluminum terrace, saying they will remain in p

treasury secretary steve mnuchin says what the hell about trade?eel and you a aluminum tariffs have been suspended. the secretary saying u.s. tariffs, trump tariffs can be put back on the table if there is no progress made in reducing the $375 billion trade deficit between the two countries. joining us now. gordon chang. your thoughts about the mnuchin negotiated trade agreement or non-trade agreement with the chinese. >> this does not have the hallmarks of the president. this looks like steven mnuchin. we have the framework and we don't have the details. basically the chinese have agreed to do what they should do and we are not going to put on the section 301 tariffs meant to top their theft of intellectual property. lou: there will be no tariffs on steel and aluminum dumping. zte will suddenly be given a pass for doing business for 7 years with the iranians and north koreans without imposition of any penalty and they can steal $600 billion worth of intellectual property and preserve almost a $400 billion trade deficit. >> steve mnuchin says it's

mnuchin: i do think it will be fully operational. i think we will have a significant number of people. maybe something like 20 people on the ground from our standpoint. 10-20 from each of the additional 20 -- additional countries. something like 50 from them and 20 from us. model for this as a counter narcotics and trafficking here in our hemisphere to be an effective model for what we are doing their on terrorist financing in saudi arabia and in our region as well and what would be different and how we handle counter narcotics, versus how it works there? sec. mnuchin: we believe tool ins are a critical combating all types of terrorist activities. it could also be used for illicit activities. we do see this as a model. i think in the region and make sense for us to have people on the ground working together. a think that we can use that same model here, but don't necessarily need a physical presence. the am going to recognize ranking member senator cowan's. -- senator. >> the request for the fundspment institution eliminates all fund

at your cnbc headquarters treasury secretary steven mnuchin saying the trade wars are on hold. >>> ge may try to get smaller by merging its rail unit with another train company. lava continues to spill from hawaii's mt. kailua volcano. >>> and a big win for fox as deadpool 2 takes a big spot at the box office "worldwide exchange" begins right now. nothing like a little calm, peaceful acdc to kick off your monday i am brian sullivan. it is a good morning for your stock investments. futures are up big on the softening trade rhetoric around china. here is what treasury secretary steven mnuchin said over the weekend. >> we're putting the trade war on hold. so right now, we have agreed to put the tariffs on hold while we trying to execute the framework. the president has been very clear since the first meeting with president xi in mar-a-lago that we are going to reduce the trade deficit. we have an agreement with china they will substantially agree to it we just comment that ultimately these are not government to government transactions. it's not a giant purchase order with us. >> and if y

we heard steve mnuchin saying the u.s. tariffs on chinese products for now, but questions remain unanswered after last week's talks in washington. the next guest says it will be a long time before they find common ground. joining us is the stratford vice president roger baker. stephen mnuchin said these tariffs are on hold. you believe it? >> i believe the tariffs are on hold. this administration has been very consistent in pushing negotiations from a maximus position and then setting off and at least in the short-term much less what they laid out at the beginning. so they seem to have hold back for now. there is space for dialogue and theng, expanding trade, but trade spat is not over. early? oesn't seem too rodger: i don't know. we are a year-and-a-half in the administration. betty: does it seem to our early -- too early for the u.s. to say after a day of talks, let's put tariffs on hold? rodger: that is what some are arguing that the u.s. is giving to quickly, that gives china space, the chinese can make promises, keep

david: is this open warfare between peter navarro and steven mnuchin? >> yes, hard to keep up with this administration and their politics on trade. hawkish,, one more which has peter navarro and robert lighthizer. steven mnuchin said the trade war was on hold and on the pro trade side, trying to calm the markets. that is what he tried to do and now he is walking it back. not the first time we have seen this. the trump administration disagreeing with itself publicly. a big step seeing we are heading to the third rounds of talks and wilbur ross is going to china this weekend. now we are questioning -- are we doing this or not? our tariffs on or off? shery: do we know what secretary ross will be trying to get out of this meeting in beijing over the weekend? wills, secretary ross discuss the framework that the chinese and trump administration agreed to win the chinese delegation was in washington last week. or the week before. it is entailing agricultural and energy product sales, not including anything beyond that. the chinese have not agreed to any numeri

feel—good factor from those words of steven mnuchin over the weekend.te a bit and on the ftse there is lots of big stocks like bp, shell and others that will be riding off the back of that and other energy stocks. you're watching business live — our top story — the world's biggest call to halt tariffs, after talks aimed at persuading china to buy $200 billion of us goods to reduce the trade imbalance. a quick look at how markets are faring. let's look at the ftse100, through that barrier for the very first time of 7800, you can see, 7826, up 0.62%, however, germany not enjoying the benefits today, down by a third ofa the benefits today, down by a third of a percent. and now let's get the inside track on how one charity is empowering rural indians to take up sport and to compete as athletes. india has a population of 1.2 billion but in 2016's rio olympics the world's largest democracy won just two medals. mann deshi champions are hoping to change that, their sports programme has now trained 4000 athletes, out of which more than 150 are playing on nationa

mnuchin says rising wages are going to take trump to the next election. i'm looking for where the rising wagings are. duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually,duncan got his $500,000 for under $28 a month. less than a dollar a day. his secret? selectquote. in just minutes, a selectquote agent will comparison shop nearly a dozen highly-rated life insurance companies, and give you a choice of your five best rates. duncans wife cassie got a $750,000 policy for under $22 a month. give your family the security it needs at a price you can afford. pepsoriasis does that. it was tough getting out there on stage. i wanted to be clear. i wanted it to last. so i kept on fighting. i found something that worked. and keeps on working. now? they see me. see me. see if cosentyx could make a difference for you- cosentyx is proven to help people with moderate to severe plaque psoriasis... ...find clear skin that can last. don't use if you're allergic to cosentyx. before start

steve mnuchin said they're not. adding wilbur ross to the mix where he kind of tried to find a middle ground i don't know if they're on the same page. do you? >> yeah. it is very confusing rhetoric from the u.s. trade team but look, this is what the trump administration is good at confusing the opponent. sure, you and i have no idea what the next move will be if you take into conflicting accounts by both mnuchin and saying look, we'll not inflict tariffs at this point in time. lighthizer is saying very much so they may still be on the table in terms of if they're not really addressing our main concern which is intellectual property theft. until that is addressed, i think we'll keep seeing conflicting views, and that's what makes us, i think win in the end. china doesn't know what our next move will be. i think it's a good thing. he has done well. trump administration succeeded, negotiating that way. neil: it might. we don't have anything approaching a done deal yet. craig, one of the things i want to get your sense

also, steve mnuchin weighing in on concerns over a tightening labor market.e told maria bartiromo, next. i can do more to lower my a1c. and i can do it with what's already within me. because my body can still make its own insulin. and once-weekly trulicity activates my body to release it. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have symptoms of a serious allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases your low blood sugar risk. common side effects inc

mnuchin: by definition, supply and demand will equate.at a very, very high rate in terms of yields. sec. mnuchin: i'm not concerned about that. there are is still a lot of buyers for u.s. treasuries. ♪ nejra: there's still plenty left to cover on "bloomberg best," including earnings reports of bp and some of australia's largest banks. and coming up, more conversations from the milken global conference. >> we're talking to ceos right now. ceo confidence is also relatively high, but people are also cautious. nejra: this is bloomberg. ♪ we use our phones and computers the same way these days. so why do we pay to have a phone connected when we're already paying for internet? shouldn't it all just be one thing? that's why xfinity mobile comes with your internet. you can get up to 5 lines of talk and text included at no extra cost. so all you pay for is data. choose by the gig or unlimited. and see how you could save $400 or more a year. xfinity mobile. it's a new kind of network designed to save you money. click, call, or visit an xfinity stor

secretary mnuchin sai he doesn't want to change the chinese structure as it is. but i you don't d that, how do you come to an agreement of some kind? >> yeah i think it's very hard. i think what we're waiting to see from treasury the most is they are as part of the ecutive memo, treasury has to come up with a list of investment restrictions on china, in specific technologies, in different industries. china has this list of things they want to be the worldwide leader of by an2025. so that's the chinese subsidies that are going to go to those domestic industries. what i think treasury is goi to say is does the u.s. have technology that they need to meet those goals? and why are we that to them?e so that's real leverage from secretary mnuchin's stand point. >> you mentioned that congress is getting involved, andsu tr. does that mean that there's market headline risk if things areo goinget worse before they get better? >> yeah, this is the number one thing i'm talking to clients about right now. one of the things that we're concerned with isha too often, we don't kno

dirty 5% to 40% increases in the near future. >> larry kudlow also echoed mnuchin comments in which mnuchin said the trade was put on hold pitch and has agreed to not go forward with retaliatory measures that he would not say how long that might last. back to you in new york. gerri: blakeman thank you for that. secretary mnuchin to get more about the trade negotiations when he testifies on his department's budget today. turning to president trump site to meet with president boone said for three weeks ahead of a planned meeting between president trump a north korean leader kim jong sunbaked in singapore. the very very threatened to pull out of this pull out of the summit if it is pushed towards unilateral nuclear abandonment. treating yesterday about china's role in those talks saying china must continue to be strong on the border of north korea until a deal is made. recently the border has become much more porous and more has been filtering in north korea to be very successful, but only after signing. secretary of state mike ang pao may not a new strategy against iran after the u.s. moistur

mnuchin that's a good thing.move tariffs as a negotiating tool or an enforcement tool from this process. you cannot do that and, therefore, i don't think we're saying tariffs are over. far from it. i think right now we're in a good talking stage, and we're moving forward going to be very positive for economic growth if we can get this done. it's already positive with the markets and so forth but as a free trader, i totally agree with potus tariffs will play a role in the negotiations and perhaps the enforcement. that's the way it works. >> larry, wanted to ask you -- it's sara -- about nafta the wall street editorial board said he set his boss up for an embarrassing political and economic failure have the odds risen that there will not be a renegotiated nafta deal by the end of this year >> i think lightheizer is working. we're all working. there's a lot of communications back and forth perhaps more coming this week. i don't think the congressional time table is quite as strict as speaker ryan may have mentioned.

cheryl: treasury secretary stephen mnuchin says the u.s. trade war with china is on hold following several days of talks in washington. mnuchin discussing the framework of a deal with beijing on "fox news sunday." >> the framework concludes their agreement to substantially reduce the trade deficit by increasing purchases of goods. we also discussed important structural issues that they're going to make in their economy to make sure we have a fair ability to compete there and also protections about technology, which have been important to the president. >> the present administration has imposed tariffs on its $150 billion in chinese good. robert olay peyser says they could still improve tariffs if necessary. what is next on the trade issue when will provide joins maria bartiromo. morning certainly a 7:30 a.m. gerri: nicholas maduro with a second six-year term. opposition leaders accuse them of buying those in using boost turnout among poor voters. the disputed victory is expected to increase pressure. u.s. secretary of state mike pompeo sain

the colors being marched now and on the bill to speak their secretary steve mnuchin is here.m earlier. he will do the unveiling. u.s. assembly embassy seal. the footprint will include our u.s. embassy in america history. the world is watching to see president trump has said that he is committed as ever to peace in that part of the country and give you a chance to ask a couple of questions as the program begins. >> bill: high anticipation. what about security? what have they done? has much changed so far for that ceremony today? >> we feel it. we got here and were able to walk the streets and go to the city of david and the old town of jerusalem and we did so much yesterday. we couldn't move today. we were dropped off at a checkpoint and walked up a steep hill where the embassy is located, the new one, in a residential area. to speak to the security around the city i'm telling you things have tightened. but what is really filling in the tight presence that we feel is what's happening on the gaza strip and it's not right next door but a heightened sense that this is more of a t

steve mnuchin is sitting down with his chinese counterparts in the government.e is going to be meeting with the chief economic advisor. the broad concerns are around things like technology transfer, intellectual the protection -- intellectual property trip -- those are some of the concerns -- exactly how they are going to adjust those, we do not know. we are hoping to find out more at the end of the talks. the chinese talks have drawn a pretty strong line in the sand. saying they will not be bullied by these u.s. demands. there are no preconditions to these negotiations. we are not expecting any breakthroughs but we make it concessions -- we may get concessions. waiting for details on that. the talks wrap up at the end of tomorrow. francine: on the concessions, you mentioned that it is something they may have missed -- they may have promised. it is probably going to be articulation of the policy th had been announced already in terms of reducing tariffs on imports. producing the tariffs on imports on autos. also around some of the measures including protecting i

futuring hi -- futures higher today and steve mnuchin said the u.s.re putting their trade war on hold. neither will impose tariffs. a top demand of the trump administration. wall street closed higher friday thanks to the bond markets. that is sparking concerns of the rising inflation and faster interest rate hikes. >>> tax cuts left corporate america flush with cash. that sparked a buy-back boom. in the first three months, s&p 500 companies spent $178 billion buying back their own stock. that tops the previous record set in 2007 just before the great recession. companies are not just rewarding shareholders. they are spending on factories and equipment. otherwise known as capital spending. $166 billion in the first quarter alone. a 24% jump. unlike buy babacks, it helps th economy. >>> starbucks is open to all. no purchase necessary. starbucks will let anyone sit in the cafes or use the bathrooms in they don't buy a drink. telling employees to consider every person a customer. this policy change follows the uproar over the two black men at starbucks la

according to peter navarro, got steven mnuchin's comments earlier this month about putting quote, anond as unfortunate soundbite. a tradewe have is dispute with china, they engage in unfair trade practices and run up a $370 billion trade surplus with us, which cost us over a million factory jobs. we lost the trade war it long time ago. ramy: joining us now is bloomberg washington reporter, greg sullivan. how likely is a trade war at this point? : it seems we are looking at an certificate when it comes to china and the u.s.. we heard eater navarro's comments, and granted he is a hardliner, and taking with yesterday's surprise tariff announcement and today, secretary sarah sanders saying steven mnuchin's comments about trade war being on hold weren't meant to be indefinitely, saying president trump ultimately makes these traits decisions. of that together races the prospects the u.s. is taking a harder line all of a sudden with china. and we heard china reported, calling the u.s. had flip-flopped and those moves injure credibility of a country. definitely more uncertainty on the trade fr

counter part steve mnuchin. >> jeremy diamond thanks for the reporting.it. >>> this just in to cnn. u.s. officials say that they've largely come to the colon collusion that kim jong-un was posturing ahead of the summit plan for june 12th and that meeting isn't really in jeopardy. if it is scrapped, though, they say it will be on the part of kim not trump. >> they think it'll be kim's fault not the president's. aides claim they're bracing for more threats from kim to pull out of the talks. they to see this as a reality check for the president and the president has noted has not been on twitter recently. >> about this. >> and has tried to dodge questions about this or be circumspect on it. they are looking -- okay. let's move on. >>> take a look at this. video just in to us reviewing new details on the isis ambush in niger that killed those four soldiers. >> look at this video and viewed by millions. wait till you see what this man said. our dad was in the hospital. because of smoking. but we still had to have a cigarette. had to. but then, we were like. wh

one thing for secretary mnuchin, don't use the word trade war. don't under that is a trade war is on hold. my reaction when i heard that was when is it going to start again. >> there's another big issue coming up soon is what's going to happen on the nafta friend. if nothing happens, what is the president going to do about it? >> we thought we weren't getting a deal last week because now we are heading into the mexican elections will start july 1 and then the midterm elections. if you don't get a deal soon, you're not getting it after the midterms. >> they bring this thing up today. without having congressional approval. that would actually be a positive. maria: let's not forget what happened hours after stevens mnuchin made the comment that said no trade war and then you had robert lighthizer say that tariffs are an important legal tool to protect your technology. yesterday i spoke with house armed services mac thornberry about concerns over china as it relates to their military. earlier this month, vice president of the u.s. dick cheney weighed

secretary treasury mnuchin says there is no reason to worry. ."lcome to "bloomberg daybreak it is labor day. i am at work hard glad to be here. ftse 100 up. nasdaq futures down. .hey have recovered a little the dollar continuing , since january. british pound losing dollar -- value against the dollar after u.k. manufacturing data. david: we are joined by michael mckee and rachel evans. michael, i was going to start with the delay of tariff and -- on steel and aluminum. he has just tweeted that the delegation is headed to china for the talks. very much like north korea, this should have been fixed before and not now. great potential for usa. this is given steve mnuchin a wind in his stills. michael: a little pat on the back. most at -- experts think they want get a deal on this talk. impose theposed to sanctions in may that he initially threatened. the chinese may be willing to buy more products but have said they want negotiate a specific number in the trade deficit. they have said they will not back off from the made in china plan that they would

earlier on cnbc treasury secretary steven mnuchin said the u.s.ogress on trade with china and he is optimistic about the road ahead. >> what i would have really said is this has been a trade dispute all along, never was a trade war. a trade dispute on significant issues both parties have agreed to suspend the tariffs, our 150, their 50 you saw they dropped the case on friday as a sign of good faith for our farmers this is going to be fabulous right away >> are we actually going to make real progress on trade let's bring in stefan seelig managing partner at bridge spark advisors, former undersecretary of commerce and john rutledge chief investment officer and a cnbc contributor good to have you here. what do you think, a lot of people say okay today is good news, the market likes it, particularly the industrials but we've had a number of market participants say, wait until after june 12th when the president meets with kim jong-un because then once that's over, we don't need china's help as much anymore, and we can really see what happens with trade

this is according to peter navarro who went on npr to declare steven mnuchin's

mnuchin: i want to be very clear. i k

steve mnuchinaid the u.s. is putting the tray were on hold, that how long will it last? to saytalker wants sorry, and is starting with the brainiac campaign. our exclusive interview in the next hour of "what'd you miss?" julia: he could become the next prime minister italy and will take on his first real job in politics. the trump administration is calling for a trade truce. secretary mnuchin declared a hold as negotiations continue. withy prove only temporary risk remaining between the united states and beijing. a former official negotiated trade deals across the asia-pacific region for president obama. cutler,me wendy currently i president of the asia society policy institute. great to have you with us. august the investors confidence to some degree on these trade negotiations. how comforted are you? wendy: i'm not that comforted. i find the outcome of the negotiations announced yesterday more of a missed opportunity. i think it is important that we will be able to sell more to china and china wi

you have larry moore in the steve mnuchin camp.e is quietly behind the scenes trying to moderate that behavior. it is nothing new in the someistration to have discord on the trade issue. >> if you are the chinese negotiating, you really do not know who you are negotiating with or if the person you're talking to actually represents the administration. is it any clearer in the nafta negotiations in terms of whose voice really matters? >> i would say there is not. also in the north korea negotiations. if you are the north koreans and you want to negotiate in good faith with the united states, what would prevent you six month from now to believe that the administration will not change his or if the person you're talking to actually represents ? i think a lack of clarity and lack of strategy is something the administration has been accused of. i think with some justification. i think with some justification. >> there is so much conflicting voice to allow things to fall through the gaps. u.s. trade officials arriving in beijing suggests

delegation led by secretary stephen mnuchin is in line for crucial trade talks.trump with our great financial team in china trying to negotiate a level playing field on trade. i look forward to being with president xi in the not-too-distant future. we will always have a good great relationship. connell mcshane is live in beijing with the very latest details on the talks. connell, good morning our afternoon. >> hey, yeah almost good evening here. for us to be talking about alcohol part-time beijing where it's 5:30 a.m. and -- 5:30 p.m. in the evening. the u.s. and china are dead, both sides to have dinner here tonight and then i'll be back at it at the negotiating table for what's expected to be a longer day of talks tomorrow. our hope is covering this event that some point tomorrow they will give us an update on the progress they've made. we were there earlier in the day when a motorcade carrying the treasury secretary mnuchin and others left the u.s. embassy and headed over to the side of the talks and that is a place called state guesthouse which hosted a numbe

we'll talk with the president's point man, steven mnuchin, only on fox news sunday. plus, president trump offers security assurances to kim jong un after the north koreans threaten to cancel the summit. >> we're willing to do a lot and he's willing i think to do a lot also and he'll get protections that will be very strong. >> chris: we'll ask senator lindsey graham whether the president can keep the singapore summit on track. then -- >> if you're going to write a fair report, fine, write it. if you're going to write an unfair report, write it and we'll combat it. >> chris: a new effort by president trump and his supporters to discredit robert mueller's russia investigation as he marks one year as special council. we'll ask our sunday panel about reports the fbi had an informant on the campaign. and our power player of the week. >> this is justify. he is a big boy, as you can see. >> chris: a triple crown winning trainer, on why his horses keep making it to the winner's circle. hello from fox news in washington. there is major news today on a trump, kim summit and tr

thank you, secretary mnuchin. for your leadership and your friendship.f course, ivanka, thank you for the great work you do to help so many people in our country and throughout the world. and including me. [applause] i also want to acknowledge vice president mike pence for his tireless efforts to strengthen the u.s. israel relationship. president trump announced to the world last year that the would finally recognize the truth. that jerusalem is the capital of israel. he also declare that we would soon move our embassy from tel aviv to jerusalem. it five months later, we are standing on these grounds. while presidents before him have backed down from their pledge to move the american embassy once in office, this president delivered. when president trump makes a promise, he keeps it. but today also demonstrates american leadership. by moving our embassy to jerusalem, we have shown the world once again that the united states can be trusted. we stand with our friends, allies, and above all else, we have shown that the united states of america will do what i

[applause] >> it's now my great honor to call upon treasury secretary steven mnuchin and senior advisor, ivanka trump, to respectfully unveil the field of nested embassy ando rd the dedication. [applause] >> on behalf of the 45th president of the united states of america, we welcome you officially and for the first time to the embassy of the united states here in jerusalem, the capital of israel. thank you. [applause]

i tend to be in steve mnuchin's camp.s doesn't mean we can't jump up from here, but overall, i am not worried about a bond bear market. it seems a lot of london investors are worried about that situation. it doesn't make sense for european investors to buy on a u.s. -- on a hedge basis and it on anen harder to buy unhedged basis because it is too intensive. a lot of investors worry it takes a lot of buyout of treasuries when they get extra issuance. i still think you will see demand from asia when you get yields spike up. he shouldn't be too much worry -- to worried about this. year, yield may come lower again at some point down the line. guy: mark, thank you. a really interesting writing by mark. you can follow that and the coverage on the mliv blog. no on your bloomberg. mark cudmore joining us from singapore. next, the bp cfo. flow numbers cash to be the market focus this morning. the bottom line was a significant beat. a big payment from the boj, but cash flow was the focus. the cfo joins us shortly. this is bloomberg

>> well, it's not the first or the last time that steve mnuchin and peter navarro have had words.h other. i mean, let's face it here, these debates can get pretty heated and by the way, if you flew all the way to beijing for the meetings with the chinese then weren't allowed into the meetings, wouldn't you be upset? i would. you've got this situation where this guy, navarro, who's done thog but 20 years but write about the economic confrontation with china that we're no now and all steve mnuchin is is doing is trying to keep him out of the mite metings. you've got two wars going on. the economic war between the united states and the people who probably of china and the war inside the trump administration about how to fight the first war. >> yeah. >> the president is in the middle. >> when all these fights, we just keep hearing ab it. josh, you've been reporting today about the trade talks. that china's given the u.s. a list of demands for the talks and one of them pertains to the technology firm zte that marco rubio said is an espionage throw to the united states. you say china wa

negotiations, treasury secretary steven mnuchin. mr. secretary, welcome back to fox news sunday. >> thank you. it's great to be here with you. >> chris: after two long days of talks, thursday and friday, where are we on the one hand on china agreeing to buy $200 billion more of u.s. goods in return for the u.s. dropping tariffs on $150 billion of chinese goods? >> well, chris, i'm pleased to report that we've made very meaningful progress and we agreed on a framework, which is

secretary mnuchin, will you sanction banks was nd the u.k. or germany because they're doing business in iran? >> this isn't about punishing other countries. as you know, we have primary and secondary sanctions. we've been careful in putting these in place. we have certain things that there's 90 days to wind down. as it relates to the oil markets, which take longer to get supply as we cut off iran's oil. we have 180 days. so we're going to work with our allies to make sure there's a careful transition, but the sanctions worked. and we've had very close discussions with our allies. >> i mean, the u.k. and france and germany, they were all on board, but they're not now. >> they are -- >> is it the united states that's alone? >> again, they are on board with our objectives. so we've had very good discussions with them. they're on board with the issue of the term. they're on board with concerns about ballistic missiles. they're on board with the concerns about state terrorism. we have slightly different views as the to how to execute that. but we'

steve mnuchin was asked about this today. here is how he responded. mr.in: as it relates to china, the steel and aluminum tariffs will remain in force. we were merely focused on the proposed -- those are not being touched. betty: with the south korean president, donald trump said i am not really pleased with the china trade talks. steve bannon still a trump loyalist, says he is criticizing donald trump from retreating from the threat of tariffs but blames steve mnuchin. white house officials are blaming warring factions within the trump economic team for this retreat. they cannot quite get it together on how they want to proceed. nevertheless, wilbur ross is proceeding, the head of the commerce department, his team confirms that an early chinese team is heading over to work out the details. you can see how politicized this continues to be. updi: another episode coming in this drama. thank you so much for that, kathleen hays. itna has made a big cut when comes to import duties on passenger cars. another concession to the u.s. on trade. let's bring in more.

an economic nationalist of sorts who tells me the fight internally with treasury secretary steven mnuchin not just on policy but also personal. joinedry mnuchin will be by trade representative bob and course,oss, and of peter navarro, as they continue to negotiate with the chinese. willource told me he expect to mainly be dealing with mnuchin because of the equal roles in the respective governments of their nations. there are many sticking points for the u.s. and china, including steel and aluminum tariff imports which president trump has proposed waging as well mnuchin as market access ad agriculture. the last point being something the chinese feel they have leverage against the united states. trump proposed $150 billion of tariffs against china and the chinese essay they want to raise tariffs on soybeans. senator -- a republican from south dakota and member of the senate finance agriculture and commerce committee about what he is hearing from republican farmers in his state about the president's proposal. look at what he tomie. >> there is a lot of concern and anxiety their planting rig

just enter mnuchin in the search bar. and ahead this afternoon facebook ceo mark zuckerberg is in brussels, belgium meeting with the parliament. we will bring you live coverage of that right here on c-span 3. over on c-span 2, former mexican president vincente fox will be speaking at the national press club in washington, d.c., live at 1:00 p.m. eastern time. and at 2:00 p.m. the