mr. mnuchin.et me refer you back to the president of the united states who have said over 16 times that he would release his tax returns. he confuses it by saying it is under audit. it does not make any difference if it is under audit. he could release those tax returns and don't forget that his chief of staff mr. mulvaney says to the democrats you will never get these tax returns. >> he said that over the weekend. between the president and mr. mulvaney and mr. mnuchin, you can't believe anything they are saying. basically, what they are all about is never really releasing those tax returns. the president has lied again. mr. mulvaney backed him up and he made it clear to us, we'll never get them and mr. mnuchin is trying to have it both ways by saying that he's going to follow the law and yet he's going to protect the president. so we have a job to do. we have the oversight responsibility for this nation and we are going to do it. >> the president ought to take it to the supreme court. is the pres

secretary mnuchin: yes. mr. duffy: if you lean into this, we should get a better result than what we are hearing from randy secretary mnuchin: i would hope so. mr. duffy: let's talk fed wire. it moves over $600 billion a day in payments. and last week fed wire went down and completely nonoperational for more than three hours. were you briefed by the federal reserve? secretary mnuchin: i was. mr. duffy: cuts what -- can you tell us what happened? secretary mnuchin: i was completely abreast of it real-time. the chair and i were speaking real-time on this issue. we had the fed had backup plans that i was comfortable with. i think it would be inappropriate in a public forum for me to comment on the specifics. mr. duffy: the backup not work? secretary mnuchin: i want to be careful. i would be more than happy to talk to you in a different setting. i have complete confidence in the fed wire system. i was fully aware of the specifics of what were going on. we were completely on top of it. mr. duffy: i would appreciate a

mr. mnuchin. mr. been answering and now we have the attorneys answering in writing to the legal part of the treasury department. i want to see what the irs that has never denied this request before, kate, why do it now? why are you stopping -- why are you obstructing justice? >> so i spoke with a reporter who has done a lot of investigative reporting, especially when it comes to the tax realm, and has won many awards on it, yesterday. he told me that the tax code says if people like the treasury secretary or the irs commissioner refuse to comply, because he says the law is so clear, that they actually, the tax code says they shall be removed from their jobs. do you think -- >> that's 7214. part of the quote. >> do you believe that is true, if they do not -- >> absolutely. >> -- produce the tax returns -- >> that's the law. >> you think the irs and steven mnuchin should be removed from their jobs. >> that's the law. that's the reason they don't want the commissioner to answer the question to the ir sire

mr. mnuchin is mr. double talk. he is about as straightforward as our attorney general mr. barr is on the mueller report. the emphasis there was on him protecting the president. he has a statutory duty and if he does not comply our committee needs to take further legal action. >> will you do? you have a tight date here you know they're not meeting it. it's next we can. you're not giving them much time they're going to flaunt you. what are you doing then? >> they've had plenty of time in that same hearing where i asked mr. mnuchin, he indicated he had some exchange and conversation was chairman neil about this. they've been aware of this for a long time. now they finally have the message. >> yes. >> it's time for them to fulfill the ministerial duty and deliver the returns. if they don't we need to take prompt legal action. >> mr. trump obviously can put his money through a lot of ways other than the personal return. that's why you requested business returns but he has four hundred different companies. you requested eight. why those eight? are you sure those are the right on

mr. mnuchin where he indicated it would be the decision of the irs commissioner, so mr. mnuchin is an interested party but does not have anything to do with the direct responsibility that the irs commissioner has under the law. >> if the irs commissioner doesn't comply, and these tax returns are not made available to your committee, what are you willing to do? >> well, we swore an oath to uphold the laws of the united states and we will use every legal pathway available to us to ensure that the law is upheld so we will seek whatever path we need to but, you know, in the short term it ought to be fairly clear that the irs commissioner is duty bound to follow the law, the law is very clear, he needs to deliver these returns to the chairman of the ways and means committee. >> to be precise, if -- is your committee prepared to fight for these tax returns in court. >> we will. we're not going to relinquish our authority under the statutes and under the constitution of the united states. we have to do our job. we don't have a choice in that regard so we will pursue it, but, aga

mr. mnuchin doesn't make this decision, it's the irs commissioner. >> illinois democrat mike quigley, thank you so much for your time, sir. have a good week. >> thank you. >>> coming up, how the president and his lawyers may attack the mueller report after it's released, but does it really matter what they say? matter what they say ♪ hey allergy muddlers... achoo! do your sneezes turn heads? ♪ try zyrtec. zyrtec starts working hard at hour one and works twice as hard when you take it again the next day. zyrtec. muddle no more. and try zyrtec-d for proven relief of your allergies, sinus pressure, and congestion. shouldn't mean going back to the doctoro just for a shot. with neulasta onpro patients get their day back... to be with family, or just to sleep in. strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. neulasta onpro is designed to deliver neulasta the day after chemo and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if

mr. mnuchin's duty is to serve the american people, not donald trump and whatever trump may be hiding in finances will be revealed either via responding to a simple request or a simple subpoena. get it right, mr. secretary. they don't give you that many choices in the big house so either way, your boss has to pay and you can file this segment under we got you. s segment under we got you >> tech: at safelite autoglass, we really pride ourselves on making it easy to get your windshield fixed. >> teacher: let's turn in your science papers. >> tech vo: this teacher always puts her students first. >> student: i did mine on volcanoes. >> teacher: you did?! oh, i can't wait to read it. >> tech vo: so when she had auto glass damage... she chose safelite. with safelite, she could see exactly when we'd be there. >> teacher: you must be pascal. >> tech: yes ma'am. >> tech vo: saving her time... [honk, honk] >> kids: bye! >> tech vo: ...so she can save the science project. >> kids: whoa! >> kids vo: ♪ safelite repair, safelite replace ♪ when it comes to reducing the evsugar in your family's diet,m.

mr. mnuchin's comments that we're just in the beginning of a strong economy?eel like we're in goldilocks right now when you look at the economic report that came out on friday. you have perfect inflation as we talked about on this slow for a while. the inflation is going to stay moderate. you had of course better than expected productivity and gdp growth. i think going into the election cycle, the administration is going to let this economy hum. i wouldn't be so quick to buy into recession 2020. cheryl: interesting. let's talk about that. obviously we're looking at the first quarter gdp numbers, the estimate, 2%. the actual came in, 3.2%. we'll be getting the friday jobs report coming up this week and 180,000 jobs is the expectation. unemployment rate holding steady, 3.8%. so it looks like to me that we've got nice exec a stations that could-dab expectation -- et could help the market power ahead even further. >> people are trying to dissect the gdp number, saying it's driven by exports and imports are down and it's government spending. those are all good thin

mr. mnuchin to infer, they don't know what they're talking about, i'll debate them any time on this issue. they're a bunch of hypocrites. went after the 54 people that had nothing to do with the politics of anything in washington. this is not a democrat or republican issue. this is at the very heart and soul of what the law says. >> i'm inclined to take you up on your offer and invite kevin brady and you to have this conversation with us. thank you, sir. bill pascrell and michael cohen, thank you both for joining us. today marks 100 days since the blue wave came to congress. talk to three freshmen democrats who turned their districts red to blue and their work in the house and how their constituents feel the new congress is doing and at the end of the hour, a butti-bump? rising in the democratic primary polls. the need for a wealth tax and what mayor pete calls the pick your poison of the trump administration. the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions

mr. mnuchin. >> i'd like to answer the question. >> it's a yes or no question. >> again, what i've read in the press he should release his returns when he wasn't under audit, but i'm not privy to the specifics of that. >> you think that was explosive, you ain't seen nothing yet. mnuchin got into a verbal sparring match with congresswoman maxine waters. watch as he tries to man-splain to the chairman of the committee. >> i've sat here for over three hours and 15 minutes, i've told you we're going come back. we'll follow up with your office. how long would you like me to come back for next time? i told you i'll accommodate you. >> i appreciate that and your reminding us the length of time the secretaries have been here. this is a new way and a new day and a new chair, and i have the gavel at this point. if you wish to leave, you may. >> i would just say that the previous -- when the republicans, they did not treat the secretary of the treasury this way. so if this is the way you want to treat me, then i'll rethink whether i voluntarily come back here to testify, which i've offered to do. >>

mr. mnuchin, you are the treasury secretary. you are our chief steward of all economic matters, as far as we are concerned the world, trade matters, financial matters, it is within your purview and covers the waterfront just as our very first treasury secretary, "alexander hamilton" did, treaties, you name it. my whole.is this. now, the reason these questions are coming up to you is there such a great hunger among the american people to try to find out, what is it about russia and the relationship with this administration that causes this unease? nowhere was that more paramount than in sitting on the world stage. president trump took the word, the advice of putin over his own treasury secretary. his own intelligence. so, for many in america, the large majority, that's why we are trying to get to these questions. but before i go, i want to get back to the trade issue. something you're dealing with. i represent the great state of georgia and we are number one and peanuts, pecans, poultry and number two in cotton. right now, all of

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mr. mnuchin has had time to consider this since last fall. he doesn't need any more legal advice. it's just a question of how many more excuses he can make. you know -- >> do you wait until may 6th or want chairman neal to move before then? >> well, i'm entrust that decision to chairman neal, but i would encourage him to act promptly. we have passed the time where we can say kumbaya and hope republicans will do right. with the exception of mitt romney, i have yet to hear a single republican even recognize the horrible conduct of the president reflected in the mueller report. >> now, i have heard some top democrats like jerry nadler of judiciary say if the administration continues to stonewall when it comes to handing over information and responding to subpoenas, basically what you're all asking for, then they could move towards punishment that hasn't really been seen in basically forever. jailing officials who defy subpoenas, imposing fines until they comply. not necessarily going to happen immediately, but it's on the table, is basically how jerry nadler has said. would you suppo

mr. mnuchin want to change some of the ways they borrow it?er long bonds, going 30 years or something like that, and they would have to come to a decision on that. what should the u.s. treasury do in terms of structuring borrowing going forward? david: i do think --rick: i do think you can borrow longer on the curve. however, there is something really important. you can issue hundreds of billions of dollars of bills. you are not going to get that much on the long end of the curve. so should you do it? yes you should. they have to find a bunch of ways to take the pressure off of just keep issuing bills on the front end. i think the fed is going to change their balance sheet over time to absorb more of that front end, which is a really big deal. the other thing i think is really important, if we are going to do more fiscal spending in this country, you thing about how to do it creatively. this concept we have to borrow to spend doesn't make any sense. public-private partnership. round ofe next spending isn't just let's put more on the national d

mr. mnuchin: i am not afraid of being fired at all. having said that, i want to be clear.ave said we will follow the law. jessica: and the is really election appears to have ended in a dead heat, with both sides electione israeli appears to have ended in a dead heat, with both sides declaring a victory. form all now try to workable coalition with a large number of parties contesting the election. final results are expected on thursday. global news, 24 hours a day on , air and @tictoc on twitter, powered by more than 2,700 journalists and analysts in over 120 countries. i am jessica summers. this is bloomberg. quick, breaking news. attorney general william barr says he will review the fbi actions in the trump pro. again, attorney general william barr says they will have a team to look at it. we will get more on that if anything further develops. meantime, let's head into the issue of a no deal brexit, which could cause the slowing across me -- slowing economy to weaken more. the forecast is the lowest since the crisis. kathleen is here. kathleen, the imf is hoping for the b

mr. mnuchin an opinion not to hand over the returns setting up a court battle. >> it sounds like a lengthyttle. the white house has been preparing for this battle for a long time. >> years. >> for years. they knew this was coming. >> they knew it was coming and when you talk to sources at the treasury department they say, kendis, game on. they are fully prepared as katie said to have this fight play out. not in congress, not on house ways and means committee chairman richard neal oversight committee but on the courts. and that is really where all of this is headed. you're seeing this trickle out in legal documents now with the president's attorneys getting involved to supporters of the president and inside of the administration, they say, hey, wait a minute, bob mueller looked at everything in his finances and you had all of the pressure in the campaign and voters decided that they didn't want to do this and then i'll be frank here, it is not just democrats who are pressing the administration on this. there are many, many republican lawmakers in office who feel that if you are going to run

mr. mnuchin. after that, we have another big event in beijing next week, a belt and road forum.ade with chinese characteristics, as you would call it. those events work in tandem and should be watched. francine: we need to talk more about the belt and road as china is moving to define its project for the first time. arend kapteynand both stay with us. coming up, a conversation with ann about 10 of santander -- and otin of0 -- ana bp santander. this is new york. ♪ -- this is bloomberg. ♪ ♪ we say good morning, bloomberg "surveillance," from london. inwill enjoy italy on friday an important discussion with economic leaders gathering in northern italy. with us are daniel morris and arend kapteyn. what i want to do with guys that write sophisticated notes is deal with an immovable force. chart.p the acclaimed we showed this with the nobel laureate the other day, the great depression. the great depression and then a century rise in equities. always arris, there is reason not to be in the market. daniel: yes, and one of the reasons today? tom: i would say there is more than a few. whi

mr. mnuchin another appointment he had to make.video clip] >> request or require you come back to more times in the month of may. is that something you are agreeing with? time -- i have every single time jack and others came here. there has never been anyone here for more than three hours and 15 minutes. i have told you i will come back, i just don't believe we are sitting here negotiating. when i come back, i will follow up with your office. >> i appreciate that and i appreciate your reminding us of the length of time other secretaries have been here. this is a new way and a new day and a new chair. i have the gavel at this point. if you wish to leave, you may. >> can you clarify that for me? >> if you wish to leave, you may. >> we are dismissed, is that correct? >> if you wish to leave, you may leave. you don't understand what are saying. >> you are wasting your time. remember, you have a foreign dignitary in your office. thehey did not treat secretary of the treasury this way. if this is the way you want to treat me, i will reth

mr. mnuchin you are the treasury secretary. you are our chief steward of all economic matters as far as we are concerned in the world. trade matters, financial matters. it is within your purview and covers the waterfront just as our very first january secretary alexander hamilton did. my whole point is this the reason these questions are coming up to you is there is such a great owner among the american people to try to find out what is it about russia and the relationship with this administration that causes this unease? nowhere was that more paramount than in sitting on the world stage. president donald trump took the word, the advice of putin over his own treasury secretary, his own intelligence. so it sets many of the americans i would say the large majority that's why we are trying to get to these questions but before i go i want to get back to the trade issue, something that you are dealing with. i represents the great state of georgia and we are number one in peanuts, pecans, poultry and cotton and right now all of these

mr. mnuchin has said pretty clearly he doesn't see a legislative purpose for this release of taxes.undreds of pages. he is still under audit. there are a lot of things going on here. i'm going to leave this to the treasury department and the irs. i don't have anything to add to what they have already said. stuart: earlier, we played a clip from the president. he said we are in the final stages of trade talks with china. he kind of left the door open, seemed to be hedging a little, maybe we won't get a deal but that's still a win, maybe we will get a deal, that's still a win. can you tell us categorically, if you can, yes, we are going to get a deal of some sort? >> no, i can't say categorically. look, what i will say is we continue to make very good progress across the board. these are the broadest, largest in scope negotiations in u.s./china trade relations history. good progress on enforcement, on all the key points, whether it's enforcement, whether it's i.p. theft, whether it's forced transfer of technology and ownership and cyberspace and cloud and of course, the issue regardin

mrs. maloney: did your team ask for the white house's permission to release the president's tax returns? did the white house ask your team not to release the tax returns? secretary mnuchin: we would not ever ask for the white house's permission on this, nor did they give us the permission. as i said, we consulted, which i believe was appropriate, of our legal department. mrs. maloney: i think the fact that there was any communication with the white house about this is deeply troubling and certainly violates the spirit of the law, if not the letter of the law. and i think we need to get to the bottom of this. and i yield back. ms. waters: the chair advises members that votes have been called on the floor. the committee will recess for votes and resume immediately following. the committee stands in recess. [captions copyright national cable satellite corp. 2019] captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org

mr. mnuchin. browder, investor, and kremlin critic, the last time on the show he said mr. putin was trying to kill him. take a listen. >> yeah. putin wants me, he wants to you know, kill me as quickly as he can get me out of the picture in the same way the united states and rest of the world want these russian guys who are hacking elections locked away. ashley: he is warning foreign investors still active in russia they are risking their own lives as well as their client's money. bill browder, hermitage capital ceo in london for us. bill what is your exposure to russia now? we know the russians are not happy with you. you've been following what you say are their criminal dealings, following a paper trail of money laundering and so on. are you still doing that and where are you in that process? >> first of all let me say that i haven't been investing in russia for about a decade. it is an ininvestable place. since the murder of my lawyer, sergey magnitsky in 2009 i have been going after the people

mr. costa: is there anything you can do to pressure secretary mnuchin to release the tax returns to congressmr. schiff: there may be mechanisms other than court enforcement but i think court enforcement will likely be necessary. that's a case where i'm confident we're going to win. i think the white house, if they were being candid, recognizes they're -- mr. costa: doung the public or at least congress will see the tax returns? mr. schiff: i think chairman neal will see the returns and he'll follow appropriate process to determine who else sees the returns, and what the legal process for that would be. i don't want to speak for him but i'm sure he'll follow the applicable rules and laws. mr. costa: let's pull back to point you made at the beginning. you raised serious questions about possible foreign powers having leverage over presidential candidates based on your observation of what happened in 2016. even the robert mueller made a certain conclusion about conspiracy, should there be more regulation, maybe a new law that's passed, to have regulation of interaction between foreign powers and

mr. in a mnuchin to infer they don't know what they're talking about, i'll debate them any time on this issue. they're hypocrites. they went after the 54 people who had nothing to do with the politics of anything on washington. this is not a democrat or republican issue. this is at the very heart and soul of what the law says. >> i'm entitled -- i'm inclined to take you up on your offer and invite kevin brady and you to have this conversation with us. >> thank you for joining us. >> coming up today, today marks 100 days since the blue wave came to congress. we'll talk to three freshman democrats who turned their area from red to blue. i'll ask how their constituents feel the new congress is doing. >> at the end of the hour, a butte momentum? whatever you call it, mayor buttigieg is rising in the polls. we talked about the need for a wealth tax and what mayor pete calls the pick your poison of the trump administration? f the trump administration you can do this! grab those command picture hanging strips and let's make it work! they're tool free and they hold strong. or change your mind damage

mr. mchenry for five minutes. >> welcome back to the committee treasury secretary steven mnuchin. you come before this committee at a precarious time for global markets. i wrote you in january right after the event in the uk parliament regarding brexit. in that letter i raised questions about uncertainty of a prolonged brexit and that effect it would have on financial institutions, the market, cross-border trading and financial services and insurance contracts. after three failed attempts the prime minister of great britain continues to work towards friday's deadline on brexit . the long and uncertain path towards brexit is coupled with a possible slowdown in germany . i am concerned about the overexposure of german banks and what this means for u.s. financial institutions. this is a serious thing for systemic risk. for example last month forbes on the deutsche bank and commerzbank merger indicating both banks were in such deep trouble that even a merger couldn't help either one of them. that is problematic. the global issues aren't just limited to the uk or europe. in china the e

mr. neal's committee has made a request to the irs -- actually to secretary mnuchin, to deliver those taxll go before a judge, we think, after, as mr. neal has noted, he interprets the white house response as a refusal, which gives him a reason to go into court. >> got it. okay. so six house committees have opened trump probes. your committee is looking at hush money, trump businesses, security clearances. look, i think oversight is important, super important, but do you worry that this looks to votes are like your priorities are off, that you were elected to legislate and not just investigate? >> well, we can't exempt somebody from the law, right? we have a responsibility to do our jobs and that's what we're doing. i think that with the tax returns it may open up a whole menu of options for oversight, where to focus, but from my committee's standpoint, my subcommittee on national security, we think that the security clearance issue for mr. kushner and others is very, very, very important. we think the president has repeatedly overridden the basic process and procedure for granting nation

mr. trump's tax returns. treasury secretary steven mnuchin says the request raises complicated legal issues. the white house also pushing back against that request. >> i don't think congress, particularly not this group of congressmen and women, are smart enough to look through the thousands of pages that i would assume that president trump's taxes will be. ashley: democratic presidential hopeful kamala harris released 15 years of tax returns yesterday. the l california senator and her husband paid nearly $700,000 in federal taxes, on $1.9 million in adjusted gross income last year. cheryl: well, south bend, indiana mayor pete buttigieg -- i'm going to have to say that a lot today -- officially announced his presidential campaign. ashley: mike toe bibin is in sh bend with the details. >> my name is pete buttigieg, they call me mayor pete. i'm a proud son of south bend, indiana, and i'm running for president of the united states. >> reporter: he is joining the growing field of presidential hopefuls, pe pete buttigieg declaring his canned ddeclaringh bend, indiana. he is in the top consistent

mr. pompeo: no. i don't believe so. i talked with secretary mnuchin end of last week. he's in china today. or not today, tomorrow. to continue negotiations. we've had lots of talks with china about this issue. i'm confident that the trade talks will continue and run their natural course. bob: the trump administration has made significant progress in the fight against isis, especially when it comes to land. is isis still a major threat? mr. pompeo: the threat from radical islamic terrorism remains. there's no doubt about that. we have made significant progress. i give our coalition partners, we built a coalition of over 80 countries called the defeat isis coalition. an enormous global coalition to take down that caliphate. that coalition remains. the effort remains to continue to defeat isis everywhere we find it. whether it's in afghanistan or in southeast asia. the threat from radical islamic terrorism remains. we're going to stay out of it -- president trump has made it clear it's a priority for him and we're devoting the appropriate resources to it. bob: you mentioned iran a lot this mo

. >> then things got heated when mnuchin asked to leave the hearing saying, he had another appointment. >> mry, i want you to know that no other secretary has ever told us the day before that they were going to limit their time in the way that you're doing. so if you want to use them as examples, you have acted differently than they have acted and as i have said, if you wish to leave, you may. >> if you would wish to keep me here so that i don't have my important meeting and continue to grill me, then we can do that. i will cancel my meeting and i will not be back here. i will be very clear. if that's the way you would like to have this relationship. >> thank you. the gentlemen, the secretary has agreed to stay to hear all the rest of the members. please cancel your meeting and respect our time. >> i am -- >> who is next on the list? >> i have a foreign meeting. you're instructing me to stay here and i should cancel my meeting -- >> no. you just made me an offer. >> i didn't make you an offer. >> you made me an offer that i accepted. >> i did not make you an offer. just let's be clear. you're

mr. kudlow: good headway according to bob lighthizer and steven mnuchin. good headway. they will be here for three days, maybe more. the talks go on. without getting into -- i can't comment on specific details. this is the largest scale, deepest discussion of trade between the two countries in history. we need a good deal. the president said we need a great deal to do this. i don't want to predict, i am just saying talking is good. we are talking issues we have beforeeen covered including , enforcement. i have talked about this, the so-called structural issues. ip theft, forced transfer of technology, cyber hacking, enforcement, i will repeat. tariffs and nontariff barriers for various commodity trading. all on the table, all making good progress, all making good headway. but we are not there yet. we are not there yet. closer.this week to get reporter: is there any word on what that is going to look like? mr. kudlow: bob lighthizer outlined a plan when he spoke to the committee on the hill. i think a very good plan. multi tiered plan to deal with compliance. if the comp

. >> did it sound to you as though secretary steve mnuchin is inclined to hand over six years of mr.s to your committee? >> i do believe this is going to have to be litigated. the democratic chairman of the ways and means committee is going down a political path of weaponizing the tax code for political purposes. i don't know if this was the chairman's intent. it was just pressure within his party to bring forward this potential impeachable impeachment process that they are trying to pursue. >> how is it a political path? it is the law that the chairman of the house ways and means committee is one of three people who can legally ask to see any american's tax returns. >> for the purposes of tax administration, not for political purposes. that's very clear under the law. that's why this is a question that's going to have to be litigated. there are a lot of people who disagree with the assessment. if you are using this 6103 provision of law for political purposes it is clear to me that's not what the intent of congress was. >> chairman kneel wants to see if the irs is properly auditing

mr. treasury secretary, thank you very much. >> thank you >> that is our treasury secretary steven mnuchin we'll send it back to you guys in the studio. >> thank you so much >>> just made news on a number of different fronts, including on china the treasury secretary saying there has been an enforcement office and an enforcement mechanism agreed to, although he stopped short of saying the tariffs would come off if that u.s./china deal is accomplished. let's bring in eamon javers. i'll begin with you. discuss the irs and he talked, as well, about the fed and perhaps that is also where there were some interesting remarks where he said to sarah, i don't feel like i picked the wrong person and he also basically said that herman cain should be confirmed and had no reason to be concerned about the fed's independence or his nomination >> after initially saying he wasn't going to comment on any individuals and then he did say that herman cain should be confirmed because he trusts the judgment of the president in selecting him or indicating he will nominate him technically for the fed board. that w

mr. dimon, i'll follow up he talked about the american sanctions that we are able to levy on the rest of the world when they are bad actors or criminals, and we had secretary mnuchin in here yesterday. he spoke to the fact that the importance of the dollar and the large financial institutions we have are critical to our ability to enforce our sanctions mr. dimon, you already spoke to the fact that your large customers, if you didn't bank them, would be banked by foreign national banks in the absence of u.s. banks, if we only had big foreign banks, how do you feel like big european banks or state-owned banks in china would do at helping us enforce american sanctions against bad actors and rogue regimes around the world for example, iran. >> the sanctions have to be executed by the banks in america. and it's because we move all that money and because we do exactly what ofac and treasury, what they tell us to do but we execute it >> so would all of you agree that having large financial institutions is good for america's national security? can you just raise your hand if you agree with that statement. let the record reflect that everyone raised their hand because cybe

mr. dimon, what are your thoughts on that? >> you are correct and i mentioned earlier on, all of us are going to meet with secretary mnuchin, homeland security, our security officers. we are working closely with the federal government. that we share information faster. we do it among ourselves. we don't have 24 people auditing us doing penetration tests and etc.. that will make it riskier, not safer. >> if you are in a situation where you are in

what does steve mnuchin and the irs commissioner do then in do they say i'm sorry, mr.dent, i have to turn it over? >> if it's up to them, do the tax returns exist over here, they could be held in contempt which is different than something privately held. >> so he then starts firing them? does he throw up his hands and let it happen? there's a lot of -- >> or does he cave like he caved. >> he might. but i think a lot of the things coming down the pike here are things that really get to whether he can survive as president and whether he has some tremendous legal vulnerability. maybe involving family members. >> i'm going to a break but i didn't get your full answer. does he want the smoke or not? >> he wants the chaos. he wants the chaos. sometimes there's smoke in chaos. sometimes there's fire. sometimes this is a lot of quiet. i think on some things, i think he'll dig his heels in. >> always nice to see you. >>> coming up in 30 seconds, my report on a wild and bizarre incident of an apparent trump obstruction that played out on live television. we're back in 30. by ove

mr. wren on huawei why he says he's interested in selling directly to apple, head to cnbc.com. >>> steven mnuchin says trade talks with china are reaching a, quote, final round of concluding issues mnuchin told reporters that negotiators will hold more conversations this week and decide if more face-to-face meetings are necessary he hinted at a potential deal to open china to u.s. firms and adding that an agreement will have reinforcement on both sides. >> they are working from a different port the u.s. ran into a strong resistance from beijing. u.s. officials are set to be working on technology transfers and international protection >> the world bank spring meetings, nadia colvenio expressed her concern about the rise in global tensions. >> worse if you call them or the escalation of trade talks around the world, i'm worried about them more generally. we have seen in recent months no matter in which part of the world this is taking place, it does impact all of us, and in particular europe. the u.s. is the largest trading block in the world it is unavoidable. it has been the case in the last year

mr. trump's returns be provided il 23 and that if there is no response, "your failure will be interpreted as a denial of my request." treasury secretary steven mnuchin called the new deadlin"r ary" and earlier this week said he needed to consult with the justice department. white house acting chief of staff mick mulvaney has said democrats will "never" see the return a hacker group has posted the personal information of whatay an hundreds of federal agents police officers online. the information was apparently stolen from three local web sites affiliated with alumni of the f.b.i.'s national academy. those affected include members of the f.b.i., the secret servic capital police, and other federal agencies as well as local law enforcement in north carolina and florida. sudanese police said today that at least 16 people have been killed by stray bullets since the military ousted president omar al bashir on thursday. protesters in khartoum continued to demand a civilian government after general abdel-fattah burhan was sworn in as head of a transitional council formed by the military. al bashir who ruled sudan for nearly 30 years remains under thuse arre

secretary steve mnuchin says his house will take final action for president trump's tax returns by next month. u.s. treasury missed yesterday's deadline to turn over the tax returns. since 2016 mr. trump said he'll not release the returns while they're under an irs audit, though no law prevents him from doing so. >>> the brothers involved in alleged attack on jussie smollett have been falsely accused of a hate crime. they don't believe smollett's versions of the events, the lawyers did claim he did attack them. they maintain their clients are innocent. >> let me make thing one thing perfectly clear. the chicagoan brothers told the truth. they could have remained silent. >> hard to keep track of with this story. last month the prosecutors dropped charges against smollett. the brothers claim they've suffered significant emotional distress and feel unsafe and alienated. >>> okay. still to come on the "morning news," president trump weighs in on twitter, but this time not with a tweetwith the's ceo. >>> and tragedy at the grand canyon. another tourist falls to their death. this is the "cbs morning news." >>> and tragedy at the grand canyon. another tourist falls to their death. thi

mr. trump's tax returns for the last six years and he wants them by april 23rd. u.s. treasury secretary steve mnuchin says they have to weigh in on that request. when he was asked about the deadline, he says those conversations have started, but it would be premature for me to conclude how long that will take because, as i said, these are complicated issues. he adds, it's more important to the american taxpayers that we get this right than hit an arbitrary deadline. the democrats are ready for a fight. congressman neil says he has the right to ask for anyone's tax returns. we'll learn more about it from cnn's lauren fox. >> reporter: the fight over the president's tax returns escalating today with richard neil, the chairman of the house ways and means committee sending a letter to the irs commissioner ten more days to reply with the request. in this letter, neil writes, quote, i am aware concerns have been raised regarding my request and the authority of the committee. those concerns lack merit. he says, quote, i expect a reply from the irs by 5:00 p.m. april 23, 2019. if you fail to comply, it will

mr. dimon, i'll follow up. he talked about the american sanctions that we are able to levy on the rest of the world when they are bad actors or criminals, and we had secretary mnuchin in here yesterday. he spoke to the fact that the importance of the dollar and the large financial institutions we have are critical to our ability to enforce our sanctions. mr. dimon, you already spoke to the fact that your large customers, if you didn't bank them, would be banked by foreign national banks. in the absence of u.s. banks, if we only had big foreign banks, how do you feel like big european banks or state-owned banks in china would do at helping us enforce american sanctions against bad actors and rogue regimes around the world? for example, iran. >> the sanctions have to be executed by the banks in america. it's because we move all that money and because we do exactly what ofac and treasury, they tell us what to do, but we have to execute it. the second thing is you have to have a reserve currency, the strength of america and the strength of the banking system is the reason you can effectuate sanctions. >> so would all of you agree that having large financial institution

mr. speaker, president. i don't know if he can fight. if he can't fight. if he can't beat up mnuchin, that's kind of where we are. we are at a point where we need to start asking who are the capitol police loyal to? >> i'll go to maya one more time here. that is the challenge. you have the justice department saying john gore is not going to show up. i think he already missed one appearance. top officials in the civil rights division won't testify. he won't show up unless a minder can go with him. does he have a right to do that? >> you know -- look. i just want to say up front that what elie is absolutely right on, the issue here is whether our constitutional system of government works or doesn't work. the constitution is the highest law of the land. i don't think anybody ever anticipated an administration that just decided it was going to cooperate completely outside the bounds of the law. the law concludes the constitution and balance of powers. you are posed with questions we never really expected to have to answer. even in watergate, the fights between the republican congress and

i thought it was interesting mnuchin didn't just shut that down but said i'm going to come back to you in a couple of weeks with an answer. you have mr. klein, the person who used to approve the security clearances. he's refused to show up. there are a lot of pots involving the president's legal standing that are starting to boil over and it suggests to me the way the president's handling it that he's feeling a little unnerved, as he should. >> john, is this a run out the clock strategy? is this they want my tax returns, the law clearly allows them to have my tax returns. let's come up with some kind of legal reply that says we're not giving you the tax returns, which then forces chairman neal into court, which takes, we don't know, a year, a year and a half. takes us up to the next presidential election. is that what he's doing with the judiciary committee? no witnesses, fight through every subpoena in court all the way to the supreme court to get each witness that you want so that he can run out the clock in a presidential campaign? >> i think it's sort of cute and quaint to suggest that there is a strategy in play here, lawrence.