we are big users of steel. when you are manufacturing a piece of the clement that weighs thousands of tons, you need a lot of steel. depending on the type of equipment, it could be anywhere from 18.5% of the input value for agricultural, and up to 25.5% for mining equipment. are the tariffs having a >>different effect on canadian manufacturers or american or is it across the board and what is the effect? the effect is negative. >>canadian manufacturers can leverage the international steel market better. that does not necessarily given of benefits to overcome the tears that are put in place. in the us prame prom prices are going up. we fully support a strong domestic us prame steel industry. we source a lot of steel from the united states. we have members that are 100% deal. the problem is the prices don't necessarily need to be that high for what they currently are. in the united states, we export about 30% of the equipment we manufacture here. when our european competitors are able to use the international ste

i know a lot about steel. i used a lot of steel. and $85 million upgrade. were announced to build a brand-new 150 billion dollar

in the case of steel the united states sells us, have a surplus of $2 billion in steel. we buy the most steel of any country from the united states, more than 50% of their output is bought by canada. the suggestion that there is a national security problem is ludicrous. >> the argument canadian officials are making, we heard from the foreign affairs minister and everyone in the cabinet and everyone dealing with a smile but given there was one individual making the decision on this and given the effort the canadians put into this, is there something else the canadian government can do to make the message resonate? >> in addition to that, we did put on retaliatory tariffs. it wasn't something we did lightly or easily or out of a sense of spite. we don't have to continue to do that but we will. some of those are amazing also. the easiest thing to do and best thing to do is get tariffs off. we don't want to have to refresh a new round of retaliatory tariffs on us consumers and us businesses. if we are left with no choice we will do what we have to do but we are not the probl

justice department official should new light on the steel dossier burst or says he warned the f.b.i. that it was likely biased against the u.s. president artie's kind of often reports. bruce or he's a former associate attorney general and director of the federal organized crime and drug enforcement task force his testimony about the christopher steel dasi on trump is now in the media's focus under review apparently is demoted d.o.j. official or big story in washington those allegations that russian officials have compromising information about donald trump tonight we're learning more about bruce and here's why according to the latest revelations bruce or is looking a little bit two faced here's face number one so the record is clear what the department of justice and the f.b.i. was aware of prior to the first foreign intelligence surveillance act with your relationship with christopher mr bush against donald trump when i spoke with the f.b.i. i told the my wife was working for fusion g.p.s. i told them fusion g.p.s. was doing research on them and trump i told them this is the informa

now that salacious and unconfirmed dossier written by christopher steele is the basis and foundation of the trump russia investigation according to his testimony given behind closed doors bruce or thinks it might be biased against donald trump he testified that christopher steele seemed determined that trump not get elected i provided information to the f.b.i. when i thought christopher steele was as i said desperate that trump not be elected so yes of course i provided that to the f.b.i. now at least some in the justice department were actually suspicious of steel from the beginning but let's look at face number two despite his warning about the da cia mr or and mr steele were in close contact you have my sympathy and support if you end up out. i read that you were a contact point to a number who was briefed a million francs understood i can certainly give you an f.b.i. contact if it becomes necessary now for ten months after donald trump was elected bruce or function as the middleman communicating with mr steele on behalf of the justice department so on the one hand we've got bruce

steele is getting paid by four people. steele doesn't stand by his own dossier. and here is the fascinating thing. if anybody says -- and remember, andrew mccabe, deputy f.b.i. director and mccomie says no dossier no fisa report. there were two fisas signed off on. the original and the subsequent renewal application. i know that comey signed the first one. did he sign the second? >> i don't know if he signed the second. he signed the first. >> hannity: he signed the first one. that's all i want to know. i forgot. so in october 2016, congressman, james comey signs off in front of the fisa court. he's telling the court it's verified and corroborated and that they believe it to be true. they also withheld the fact that hillary paid for it ok, so that's a pretty big point that they left out. now, january following that october 2016, comey goes into trump tower, sees president-elect trump and says, "i need to talk to you alone. um, there's a dossier. now, it's salacious but it's unverified." well, that's not what he said to the fisa court months earlier, is it? what d

mr steele's bias against donald trump when i spoke with the f.b.i. i told them my wife was working for fusion g.p.s. i told them fusion g.p.s. was doing research on them. from a tone of the this is the information i had gotten from chris steele now that salacious and unconfirmed dossier written by christopher steele is the basis and foundation of the trump russia investigation according to his testimony given behind closed doors bruce or thinks it might be biased against donald trump he testified that christopher steele seemed determined to trump not get elected i provided information to the f.b.i. when i thought christopher steele was as i said disproved that trump be elected so yes of course i provided that to the f.b.i. now at least some in the justice department were actually suspicious of steele from the beginning but let's look at face number two despite his warning about the da ca mr or and mr steele were in close contact you have my sympathy and support if you. are really the bureau contact point or number who is briefed a million things unde

-made steel and china-made steel has been large.host: this is our guest , ed hill, if you have a question about traded policy, 202-748-8000, if you live in what is a rust belt state, 202-748-8001, for all others, you can post your thoughts and comments @cspanhistory. professor -- @cspanwj. professor, the u.s. has a strategy. how would you address that, and what would you change? guest: the issue with china -- a little bit of a background is china makes 52% of the world's steel. it is a state subsidized industry. for political reasons, they don't want mass layoffs. the globe is worrying that when china slows down or goes into a recession, where is all of that metal going to be dumped and that is a multilateral problem. what do you do with a problem like china? it has to be dealt with multilaterally. all of the steel using countries getting together to make certain that dumping does not take place during a downturn. right now, chinese steel does not play a big role in the u.s. market thanks to the wto, but undermining the wto and goin

when i thought christopher steele was as i said desperate that trump not be elected so yes of course i provided that to the f.b.i. now at least some in the justice department were actually suspicious of steel from the beginning but let's look at face number two despite his warning about the da ca mr or and mr steele were in close contact you have my sympathy and support if you and i really need another viewer a contact point or number who is briefed a million francs understood i can certainly give you an f.b.i. contact if it becomes necessary now for ten months after donald trump was elected bruce or function. as the middleman communicating with mr steele on behalf of the justice department so on the one hand we've got bruce or testifying before congress under oath that mr steele had an ax to grind that he wanted trump to be removed and that his report may not be credible but on the other hand we've got bruce or communicating with christopher steele and reassuring him that everything's going to be ok almost as if they're working together now after two years of investigating collusion

when steele was asked, "do you understand that they have no connection to cnn reporters, steele replied," i do not. i'm not making this up. it's so dangerous but don't forget, we already know, he was under oath in an interrock a good tore in great britain. he testified, i don't know if this is true, maybe 50-50, it says raw intelligence. that's what the author of the document has said. in today's release we also learned that steele, in fact, admitted that he never attempted to verify his information by reaching out to people he accused of wrongdoing because "we're not journalists, and we're not seeking to publish information. we're doing research which is confidential for a client in general." the only problem is steele was seeking to publish the contents of that dossier which is why he was disseminating his findings to every so-called journalist who now need to be held accountable, who would hear him out, and steele also shelled out this unverified hillary bought and paid for russian dossier throughout the highest level of obama's government, and according to other now public depositio

lord steel has been of a prominent politician, hasn't he?range that he has displayed such poorjudgement about this. as someone, as lucy said, in public life, you expect them to have a sense of wrong and to understand that they have civic duties and if you were aware that someone was involved in heinous crimes like this, you should speak out about it, he should tell the authorities, you certainly should not go ahead with nominating them for honours and carrying on as if nothing at all had happened. it is a very, very strange story, it took me are back, i have to say. lucy, are you surprised by this?” are back, i have to say. lucy, are you surprised by this? i am surprised, i think it is a very strange sort of scenario and the specific offences that lord steel asked cyril smith about were pretty serious, he asked him about reports that he had abused boys at rochdale hostel. i am glad to say that the lib dems and come out and suspended him over this, the deputy leader has come out and said that this is an incredibly serious situation and it is

>> well, we now know that the allegations in the steele dossier aren't even supported by steele. think that fisa court ought to consider holding in contempt of court people who submitted the fisa application while withholding relevant information that might have led them to a different conclusion. look, we live in such a strange time. the other headline is jussie smollett'sing getting indicted. thankfully, it's very important. anybody who falsely accuses anybody should be called to task. i've been falsely accused. fortunately, i was able to -- nobody should be able to make false accusations and get away with it. >> sean: i've lived with that my whole career, and the standard is so high, even you and an army couldn't win a case. i am glad about these covington kids that have a great lawyer and what happened in his case was a disgrace. all right. i want to remind everybody, you are going to write an introductory response to the mueller report. >> that's right. >> sean: and that will be coming out -- >> just days after the mueller report becomes public. i'm working with a very, very

we put a big, fat beautiful tariff on that dumped steel. it's sand steel. it's mud steel. it's crap steel. and they're dumping it all over. i said, that's ok, you can dump but we're going to charge you 25% when you come in and think you're going to take our jobs and give us bad steel. i know a lot about -- i've used a lot of steel. right here in ohio, nucor has just announced an $85 million upgrade in marion. charter steel announced plans to build a brand new, $150 million steel plant in cuyahoga heights. jsw steel is restarting the furnace -- that's a massive furnace -- and investing $500 million in mingo junction. and cleveland cliffs announced a brand new, $700 million plant in toledo, ohio. don't leave here, though. don't leave here. don't get any ideas. don't get leave here. just stay here. just relax. stay here. we don't want you going to mingo junction. we're also finally fixing the horrible trade deals that have cost our nation trillions of dollars and where we've lost millions and millions and millions of jobs, like we were stupid people. they closed a plant; they

the steel industry would suffer. summers forge i don't think would suffer. ik >> do you feel you've had a partner in government in a sense that's helped you plan? >> dno, i't think we've had the visibility that business needs. i think because of the way summers operates, we haven't felt the adverse impact of that. we've still invested, we've l recruited. >> reporter: firms with a weaker digree and cash positions in an industry that's already feeling the squeeze, no politician can promise brexit .on't spark significant and for "nightly business report," i'm vill. >>> a big move higher for big lots, and that's where we begin tonight's market focus. the bulk discount retail chain reported better-than-expect a earnin revenue. the company also saw same-store sales rise more than 3% for the second consecutive quarter. the ceo atriktributes the solid results from remo led stores and marketing efforts. it was up nearly 14% to $36.18. >>> navastar missed on earnis but revenue beast foreca forks. they also had strong full-year guidance. shares fell 3.5% to $33.85. >>>

guest: just a background, china makes 52% of the globe's steel. for political reasons, they don't want playoffs in their mills. whenlobe is worrying that china goes into a recession, where is that mental going to be dumbed down -- where is that tal going to be dumbed it? dumped? to be right now, chinese deal doesn't play a big role in the u.s. market, the undermining the wto and going into bilateral -- tiations are we got strong answers. there is unanimity in the state problemt support is a to be dealt with. not understanding why we then turn like a frightened dog and fight canada and mexico when it comes to trade issues with china? manufacturers tell us -- we had manufacturers tell us they don't mind taking a shortcut with china. but they are confused as to why the tariffs or against our best trading policies --trading partners. host: the phone lines are on your screen. maryland, you are on with professor ed hill. caller: i cannot give through on line.dependent i was hung up on three times. host: you are online now. caller: i'm telling you about

they focused on christopher steele and the steele dossier as if it is embarrassing and his work might have been a pred kit f -- for the russian investigation. bits and pieces of the dossier keep getting proved. nothing has been disproven at all and i mean, flip through it again sometime. i mean, you know, i don't understand why republicans in the white house keep drawing people's attention back to the dossier, really you want people to read the dossier? it says about the trump campaign and trump himself is not good and bits and pieces of it keep being proven true. now, we think but we are not sure that there may yet be more unsealed documents that derive from this case in florida but this piece of it unsealed tonight verifying the only real technical stuff in the dossier about the russian attack on our election and the russian attack on the democrats, that is new as of tonight. so very interesting news. "new york times" was first to break it but that report is available to everybody because it's been posted publicly to the court. i should mention when it comes to efforts by congressio

, i'm now in the face of a pending labor strike going to seize and operate the privately owned steel mills for myself. supreme court says can't do that and in particular, justice jackson in a controlling, now concurring opinion that the supreme court continues to cite in wide majorities today says let me tell you how to think about presidential power, presidential power is not fixed but flux shactuates, waxes and , when congress has delegated the president authority to do something, the president's power is at its maximum when congress has said no, thou shall not do it, the power is at its lowest ebb and if it's not clear, we are in the twilight zone. so the argument here plays out in the following way. the president says this is a manifest delegation of power from congress to the president. it's a category one case. that is, this is where congress has said not anything confusing, simply go forth and do this. the only argument on the other side is that this is category three or maybe category two. that congress made clear its view before the president declared an emergency that we do

dossier, the christopher steele dossier. this is a document that at the time some reporters had seen or at least they'd seen parts of it. parts of this document or perhaps all of it had been handed over to the fbi and over to the state department. this document had also been briefed, at least in part, to the incoming president. remember that dramatic scene in james comey's book where he talks about going in one-on-one and briefing president-elect donald trump on the content and the nature and most importantly the existence of this dossier, which was starting to circulate. so it was a round in various circumstances but buzzfeed was the first to make it available to the general public when they published it online in january 2017. to put it mildly, their publication of that dossier exploded like a freaking fireball, right? i mean, it had, you will recall, this awkward and still difficult to talk about front page allegation that president-elect donald trump had engaged in some very specific extramarital, extracurricular behavio

now, they'll make steel plates for steel ships right on the spot. ♪ ♪ >> american motorcycle dispatchs they will find soon in africa, in alaska, in the south pacific, or on the continent europe. they're off to battlefronts world.the [motorcycles revving] ♪ ♪ flares off the coast of africa. united states reinforcements german attack as the americans land under fire. [explosions] ♪ ♪ nazi land, they take prisoners, many of them valuable fliers. the country in transports, they go to prison camps. their days of raiding, over. ♪ ♪ the first skirmish between united states and german tanks proved the superiority of american equipment over the nazis' famous equipment equipment are arriving every day to drive the axis out of africa. ♪ ♪ toa treaty restoring china full sovereignty over by own soil is signed chinese prime minister ming and the american secretary of state hull. statest ends united occupation of so-called treaty ports and marks the beginning of a new era in the far east. givinga, america is them all aid possible. giant transport planes speed far-flungoops to battlefronts. movement

i know a lot about steel. i used a lot of steel. and $85 million upgrade. were announced to build a brand-new 150 billion dollar steel plans in cuyahoga heights. gift of you steel is restarting the furnace. it is a massive furnace. million. $500 and cleveland announced a brand-new $700 million plant in toledo, ohio. [applause] don't leaveump: here. don't get any ideas or just stay here and relax. stay here. we don't want to let you go -- we also finally fixing the horrible trade deals that have caused our nation trillions of dollars and where we have lost millions and millions and millions of jobs, like we were stupid people. they closed the plant, moved it to mexico, they make the product and sell it into the united states. no tax. end up with is loss and no jobs. we get no taxes. we get nothing. happen anymore, under our new deal, there is a tremendous financial disincentive to close up plants and move them to other countries. you will not see that. we are getting rid of the disaster known as nafta. country, you still over the say empty plants when they h

alix: i'm alix steel, and alix: i'm alix steel, and welcome to bloomberg "commodities edge." 30 minutes focused on the companies, physical assets, and the trading behind commodities with the smartest voices in the business. we kick it off with spot on, an analyst and investor take on our big story. joining me in the studio is dan dicker, the founder of energy word, and phil verleger, the president of pk verleger joins us from denver. our spotlight is on president trump's oil call. monday, prices sink after president trump tells opec to relax and he warns of higher prices. then the saudis ignore it on wednesday and said they are considering a production cut agreement in the back half of the year. when you look at this and the tweet monday, how significant was it? phil: i think it was very significant. it follows a series of tweets that began last april. president trump has essentially chased one billion barrels out of the market from the long side. we saw last year a number of hedge funds closing, which were taking long positions in futures . and what he has done is capped it. there is a

he associates mccain with the christopher steele dossier. he offers a set of facts that's been contradicted but he sticks to it. he associates mccain with the steele dossier because mccain turned it over to the fbi reportedly. he believes the dossier is the source of his problems with mueller. it's how mueller got created. that's also not so. in his mind that's how he's bootstrapping one thing to the next. that's driving it. i wouldn't underestimate the degree to which folks around him share the view that he's under siege and it's unfair. i am not validating that. that's how they see it. people would rather he was not attacking a dead man. that's 100% true. most of them will amend it with, but he has a point. you hear it over and over again. >> fascinating. the picture you paint there and the fact that we are not hearing from more republicans. what we heard from scott jennings this morning was that it's just not worth the political capital to come out and say something. because it could backfire in terms of not only the president but also wh

report grew more alarming. >> steel hearing of the fact that russia was dangling deals with trump. he knew the names like michael cohen and felix sater. it was totally outside the experiences of anything that anyone had ever heard about a presidential candidate. some of the dossiers have been corroborated but much of it has not including its sexual allegations. in the closing days of 2016 as president obama struggled to respond to a president assault, the steele dossier was largely unknowned to the publ unknown to the public. by the time it was public to buzz feed in 2016, donald trump had already won the election. >> i am very concerned. >> i am concerned that donald trump is behaving like someone who may have been compromised or blackmailed by russia. that's something we need to get to the bottom of. we need to ge to the bottom of coming up. >> we have the president of the united states literally defending the president of russia. i switched to liberty mutual because they let me customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. l

and that is the rationale to impose tariffs on steel and aluminum. and canadians believe that we've got each other's back when it comes to international situations. we've been there in the first world war, the second world war, the korean war, in afghanistan, we obviously are working together against isis. so it really does bother us to be considered a national security risk. and that's a very, very challenging situation for the government of canada. we've got to get rid of these tariffs. and certainly we've got to get rid of the precedent of claiming a trade dispute is a national security risk. that is unacceptable in my view. >> let's talk about the steel and aluminum issue. i think it's really at the heart of this, particularly for canadians. where do you see this going? is there a way out of this situation? and how do you expect the canadian side and the u.s. side to play that? ambassador blanchard? >> first of all, nobody believes that steel and aluminum from canada or mexico are a threat to our national security. nobody believes that. so it's l

do you remember that da ca compiled by british intelligence officer christopher steele that may have been full of outrageous allegations gossip and unsubstantiated claims but the late night comedians just won't let it die don't want to say what it was on video but. it was p.p. did some people believe that this tape proves trumps guilt oh my god it's real i should be now steel never actually visited russia to investigate his claims furthermore he alleged that michael cohen had secretly met with russian authorities in prague even though michael cohen has never even visited the czech republic now you'd think that spotty intelligence work like that would render mr steele jobless but it appears that he's hard at work once again it's been revealed that over two million dollars has been funneled to christopher steele and the research firm to use in g.p.s. the of the democracy integrity project headed by a former intelligence committee staffer for a democratic senator joe secured the services of steel and fusion g.p.s. to continue exposing russian interference in the two thousand and sixteen

i'm alix steel and welcome to ."oomberg "commodities edge a focus on assets and the trading behind commodities with the smartest voices in the business. we kick it off with spot on, and investor take on our big story. joining us, the founder of energy word and the president of pk realtor joins us from denver. the spotlight is on president trump's oil call. prices sink monday after president trump tells opec to relax and the saudi's ignore it on wednesday and said they are considering a production cut agreement in the back half of the year. when you look at this and the tweet monday, how significant was it? >> very significant and it follows a series of tweets that began last april. president trump has essentially barrels outillion of the market from the long side. of hedge funds closing last year, which were taking long positions in futures and what he has done is capped it. there is an analogy that goes back to the greenspan put that followed the 1987 flash crash. the fed kept cutting interest rates every time the e

for many peers. >> steel prices i think would fall the steel friday would suffer. somers forge i don't think would suffer >> do you feel you've had a partner in the government to help you plan. >> i don't think we've had the visibility that business needs the way that somers operates we haven't felt the adverse impact of that. we've still invested we've still recruited. >> that firm is the oldest steel manufacturer in the u.k., and they say they're lucky because they have long-term against contracts and maritime contracts. they can weather the potential storm of no deal better than some of the competitors. just to run you through very briefly, brian what this could mean for steel manufacturers in the u. kfrmt, the idea that the e.u. would impose tariffs on products in the e.u. we see the loss of trade with dozens of countries elsewhere. steel producers potentially facing trade remedy differences in terms of safeguards the e.u. has instituted that have helped protect the steel industry and the european union the u.k. might not be able to match those. there's a lot o

jones secured the services of steel and fusion g.p.s. to continue exposing russian interference in the twenty six thousand us presidential election jones planned to share the information he obtained with policymakers on capitol hill and with the press indirectly the funds are being put up by a certain george soros among other wealthy donors soros has been funded fusion to pay is directly but had made a grant to the democracy integrity project which used as a contractor and it's not just wealthy democrats apparently the department of justice is in on the action as well the d.o.j. has been in touch with using g.p.s. the research firm before during and after the twenty sixteen elections christou was on the stand that was hired by fusion g.p.s. to do research and got the information he provided information to me glenn simpson who is i understand it to principle of fusion g.p.s. and a couple of occasions he provided information to me so the man who cooked up a widely discredited report that makes a great punchline on late night t.v. is curren