stephen mnuchin said these tariffs are on hold. you believe it?e 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 things going, but the administration can do what it seems to do regularly and swing back around and through the tariffs on quickly. betty: that option is always on the table. in these talks, who has been most effective? rodger: i am not sure. these are two of the world's major economies. the chinese have been changing

but stephen mnuchin doesn't think it's a problem.k. >> some of it is training, but i'm not hearing that from the companies. >> a number of managers have told me that we need more workers. you don't hear that? >> i don't, not at this point. >> steve: i think the president understands that it doesn't get reported, i've heard him talk about the need for job training and apprenticeships. i think steve nation got the memo. >> let me defend the secretary for a moment. there is a 10000-foot view. he was part of the campaign, broader picture. he said they haven't told him that. we have two problems. first, you have a public education system that's a disservice to many children. and an immigration problem that has contributed to i we don't have enough skilled workers in the country. when you look at what the president is trying to do, you had ivanka out promoting stems. there's a tone of programs available the children are not participating. we have to ask would you, if you knew companies were importing workers and displacing american workers

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

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

this comes as treasury secretary stephen mnuchin says the war is on hold.ef investment officer at nova pointe capital. good to see you. thanks for coming in. china is putting import duties on passenger cars changing them to 15% from 25. this would affect passenger cars. we saw this huge rally in stocks that have so much business in china. take a look at this list from yesterday. boeing, america's biggest exporter. all these companies moving higher. will we see a similar trade today and auto stocks? >> well, certainly on the announcement that the trade war was on hold but not so much. it will benefit bmw just as much as it's going to benefit ford, gm or tesla. at the higher end, those cars will benefit mass production cars made in china so there's not as much of a benefit to the tariff cut. >> as i understand it, if you don't make cars in china come you benefit and that's a shorter list rather than the broad swath of u.s. automakers that she would expect. i want to ask you, where is the bearer of this negotiation? computing comments from the commerce secreta

we previously heard from stephen mnuchin saying it was not the desire of the u.s.o put this company out of his nest, which is effectively what the measures have done. all majoropped operations and is on hold until the u.s. adjusts the penalties as president trump is saying they will do. articulatingin is the stands from the administration that this does not change their views around lowering the barriers to access to sensitive technology for chinese firms in america. there has been criticism from republicans and democrats because it is the technology sector that has led to both sides coalescing around stronger control. stephen mnuchin saying there would not be loosening as part of ongoing trade discussions with china. where does this then leave these trade negotiations in the wider sense? seems the white house is divided amongst of themselves. peterare reports that navarro and stephen mnuchin are at loggerheads over how to approach these negotiations. hawk.o a long time china how that relationship will play out is key to how talks go forward. wilbur ross will be in

ivanka trump people have , jared kushner and stephen mnuchin are among the american officials attendingng. president trump will give a speech by video link. jeanine" . >> jeanine: a historic week with the u.s. embassy to open in jerusalem. president trump confirming his summit with north korea's kim jong-un for june 12 in singapore. here is reaction such open in jerusalem. there is lindsey graham who is leading the congressional delegation. thank you for being here. i'm not can ask you what a great thing this is because i know you're a big supporter of the creation of the embassy in jerusalem. my question to you can is what signal does this send to iran and after that, russia and the north korea. >> when it comes to the united states and israel we are rejecting the obama model of tepid support. you have israel's back. if you have a problem with jerusalem being the capital of israel, take it up with god. he's telling iran, we have israel's back. he's telling north korea that i'm going to be different than the presidents before me. when i say gonna do something, i mean it. i said i was go

officials including treasury secretary stephen mnuchin. blake burman is at the white house with more. reporter: the dtd was involved in egregious behavior over the weekend president trump said he was working with the chinese president to get back into business fast with the white house explanation now for all of this according to the deputy press secretary rauch are it was a complex relationship with the chinese over economic and national security issues. the commerce secretary wilbur ross drew a penalty between zte in trade. >> it wouldn't surprise me if they bring up the zte. our position has been that the enforcement action separate from trade. reporter: american companies are banned from selling to zte. zte sold to iran and north korea and lied about it. intelligence chiefs have warned of security component. had that the fbi, cia and other agencies this year in capitol hill. >> all the witnesses i'd like to address the question to you. raise your hand if you reduce products from long way or zte. the something of a biased question. rais

treasury secretary stephen mnuchin says the inspector general's looking into whether banking recordspresident donald trump's lawyer michael colin release. yvonne forstmann official release documents to the media about the banking records because he thought the information was being hidden. the information about the payments were first revealed by michael. a lawyer for adult film star after a stormy daniels. generating, as you can imagine all the drain the swamp jokes. add them all in. the national park service and that is what is happening now. three weeks until the scheduled summit between north korea, the president trump saying the meeting in singapore may be delayed or might not happen at all. joining us now, james turf i know a vice national security and foreign policy at the heritage foundation. good morning to you. >> good to be with you. tracee: president trump says the north korea summit might not have been on june 12. what because this delay and if it happens when it's called off. >> goodness they were going to be a roller coaster in the market? can we just put that out ther

delegation includes ivanka, jared kushner and treasury secretary stephen mnuchin all to attend openingstoric day. falconer is live in jerusalem with the latest. >> alright, so this is about to happen. you can tell because they are doing all the subjects. i didn't ask for the drumbeat that they're doing one and it's great. this is the location of the u.s. embassy. they've got this stage built right next to where they will open the door for it. the excitement began yesterday as the delegation began arriving. you mentioned ivanka trump, jared kushner who will speak today arriving last evening and on the welcome ceremonies with the prime minister. he spoke briefly fair. let's hear from him. >> this is a momentous time. president trump is making the center people will be eternally grateful for the bold decision to recognize jerusalem as the capital and move the embassy there. >> what is so exciting today as people begin arriving in the neighborhood, a residential area, an upscale quiet place, u.s. consulate that some have about the neighborhood. they are now going to see the embassy move fr

the negotiation with the chinese delegation after he reportedly clashed with treasury secretary stephen mnuchin during the recent trip to beijing. others say navarro will be included to white house economic adviser larry kudlow will be on "varney & company" at 9:00 a.m. eastern. susan lee will sit down with canadian prime minister justin trudeau for an interview at the human heart economic club. big interviews on fbn. >> mary larry kudlow can clear up the confusion. turning to earnings, results from wal-mart this morning. higher earnings per share and revenue compared to jericho. investors watching for news on whether amazon prime membership effected wal-mart online. the online growth slowed in its last earnings report. gerri: jcpenney reported before the opening bell. a retailer to boast a lot of lower revenue from last year at this time. wal-mart shares are down 14% this year will while jcpenney is down 8%. the brick-and-mortar companies keep having trouble. cheryl: except for macy's. speaking of pushing. push to compete with codify. youtube is revamping its music service. >> launching a new

i don't know ultimately the math on this, as you know, congress was briefed late last week by stephen mnuchinthe treasury secretary, and wilbur ross, the commerce secretary. the message was, turn down the volume of criticism. we know what we are doing. whether that is true, we don't know. i think there is a sense really that is the u.s. -- if the u.s. lets zte fail, it could restart the trade war that seems to be tamped down just a week or two ago. so there is that going on and sort of and away chart between zte, trade and tariffs, and the north korean summit. so the administration will let congress know that they are keen to not have pushed back on the te, but you never know -- on zte , but you never know. you talk about bipartisan support for the anytime these days. haidi: what is the next step from the administration beyond a tweet from trump? ros: it is interesting. president trump said i close it down, then let it reopened. he may be in the process of letting it reopened, but it hasn't happened yet. zte has certain benchmarks it needs to achieve, and there is really no particular time fr

stephen mnuchin and we are putting tariffs on hold of on hold but mr. leigh keizer coming out with this statement later on in the day saying we continue to expect we are going to see tariffs go into effect. what happened? where is the progress? steve and the tension within the economic team within the white house. larry kudlow, barbara leigh keizer and peter rivera that they can't get on the same page. the secretary of the treasury was the first to get on tv with the microphone on doesn't mean everyone's in agreement. he said that terrorists remain an important tool to protect our technology. we should point out that although markets are reacting to good news that china agreed to reduce our trade deficit, there wasn't any hard number. they went into negotiations with $200 billion number in terms of reducing or trade deficit. the statements from china and the u.s. did have a hard and fast number. trade do even more concerning to me is this deal in agreement does nothing to address the real issues today. the intellectual property in the forced transfer of

earlier this month, stephen mnuchin led a delegation to china and they did not look like talks.d comem the today, president trump said he was doubtful that there could be success with china in the trade negotiations, calling the country spoiled and the eu and other countries spoiled on trade as well. but with this new report, it seems that china is willing to make a concession on the u.s.' demands. we need that there were expected to be new offers and the trade negotiation. white house advisor larry kudlow had said as much. it looks like this could be one of the first chinese offers in .hese ongoing talks betty: thank you so much, greg sullivan, our bloomberg reporter in washington. much more on the relationship between beijing and washington is coming up. we will look at how trade tensions are making chinese companies more determined than ever to look inward for growth. haidi: yes, and up next, larry crozer joins us to discuss the outlook on the u.s. economy, and whether we should really be thisng forward guidance at point. this is bloomberg. -- wendell kirzner. . -- wendell kirzner.

they met with top officials like the secretary of commerce wilbur ross in the treasury secretary stephen mnuchin. julie: allison barber, thank you another twist in the rush investigation. days after it entered the second year there were new reports an fbi informant met with multiple advisers on president trump's campaign team in 26 including george papadopoulos and carter page. after the bureau learned of possible ties to russia. molly has more from washington. see that president trump says president obama's fbi spied on his campaign in 2016 and if it's true the president said he would be the biggest political scandal of all times. the president just tweeted earlier this evening and this afternoon quote if the fbi or the doj, the department of justice was infiltrating a campaign for the benefit of another campaign that is a really big deal. only the review of documents at the house intelligence committee also senate judiciary is asking for and give the conclusive answers, drain the swamp unquote. republicans on the house intelligence committee have asked the justice department to turn over docum

trump is sending its top economic officials to beijing for trade talks including wilbur ross, stephen mnuchining each other with billions of dollars of tariffs. it starts on thursday. chris, it's a very big deal. we had $150 billion in tariffs that the united states promised to slap on china. >> right. of course you always have a little bit of back story about what tariffs actually get paid, but christine's point is well taken. this is brinkmanship to create uncertainty in the markets that hate that. that's one big theme going on. you have these questions from mueller. you have what they're going to do about the wall with the caravan there now and what steps. you have what bb netanyahu just said. there's a lot on the president's plate. >> we'll talk about the political consequences of all of these things on the president's plate when we come right back. when did you see the sign? when i needed to jumpstart sales. build attendance for an event. help people find their way. fastsigns designed new directional signage. and got them back on track. get started at fastsigns.com. and got them back on

stephen mnuchin will also be joined by trade representative robert mine eyes are this is the trip wille. he says the chinese system has worked for them but not the u.s. and it will be good if the problem could be managed to suit all sides. the world health organization says troxell -- toxic air led to the deaths of 7 million people in 2016. nine out of 10 people around the planet faced dangerously high levels of pollutants that can cause cancer and cardiovascular diseases. theution was worst in eastern mediterranean and southeast asia where some toxins were five times safety limits. south korea has begun dismantling loudspeakers in the dismantling -- the militarized zone. the countries agreed at the historic summit last week to end cross-border messages. there are signs north korea is also dismantling its loudspeakers, but seoul sza cannot confirm that. global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. leapad: apple having a big in late trading after revenue beat

stephen mnuchin a tentative framework has been agreed upon.ina has yet to commit to a specific [indiscernible] both may impose tariffs, but washington remains optimistic. said, going over the different commodity purchases and the tariffs and monitor productions. i don't see any cause and all. i would say there is more momentum the building -- momentum building. fromad: joining us now farmers -- a commerce ministry official. fiction?e is it a bridge too far? >> i don't think the $200 billion gap should be bridged. the goal is unrealistic and unreasonable. what china could do is encourage imports from the united states. for instance, including the imports of agricultural products, energy, especially natural gas, and other products. that would be good for china's people's lives and also good for u.s. economy, and also helpful for reducing the trade gap. $200 billion gap, that is not possible. rishaad: if they start doing the things you're suggesting, that means they will be trading this with other people. that will not go down well with these oth

treasury secretary stephen mnuchin ministry delegation have arrived in china for talks on a terrace. the ominous warning and tesla investors the electric automaker first quarter report showing record spending amid model three production struggles. what ui must did not help these fears either. and the sun pause button. in seattle over the new tax proposal. amazon is putting its money on at the kentucky derby. stories coming up in fox business network dagen mcdowell. fox news contributor jason chaffetz one with the wall street editorial page james freeman. >> i am glad. i'm just going to sit back and listen to you. by the way, i am wearing red and i am wearing this dress for two of our most loyal viewers. stacy is on-demand and we and we disagreed about everything politically but they are on your show. she loves rod and she's covering thanks to all of our viewers. we've got these details emerging on the controversial payment to stormy daniels. former new york city mayor rudy giuliani were filled last night they did reimburse $130,000 out of his own pocket while shooting down allegation

he was part of the delegation with treasury secretary stephen mnuchin that went to beijing a couple weeks ago. those talks were fruitless. disagreements and disputes about how to handle those talks. therro was not listed among u.s. officials who would be meeting with the vice premier liu when he was in the u.s. we were told initially he would not be meeting with the vice premier, but now he is back on after the story broke wide bloomberg earlier today. says,ite house official he will be in those meetings as well. betty: has there been any progress on the trade talks? what is the reaction of liu he's visit to congress? joe: it does not seem to be much. the president says he does not know what china is asking for. the vice premier made the rounds on the hill today. and orrin hatch came away from that meaning -- meeting pessimistic. he said the vice premier listened, heard their concerns, that did not offer much in return. he said he was fairly convinced probably the white house would have to go through with the tariffs they plan to impose because there was not much sign of progress, but tha

peter navarro has criticized treasury secretary stephen mnuchin for saying the u.s. war is on hold. navarro said the comment was "an unfortunate soundbite" and says washington is involved in a trade dispute with china, plain and simple. he went on to say the u.s. lost a trade war long ago when china joined the wto. >> that was an unfortunate soundbite for two reasons. number one, what we are having with china is a trade dispute, plain and simple. a $370 billion trade surplus with us, which cost us over one million factory jobs a year. union expecting trade broadside from washington, after reports that trump administration is poised to impose tariffs on steel and 25% on imported steel and 10% for aluminum. leaders are still trying to find the solution. >> i am always very hopeful. some things depend on me, others don't. i do my best i can do. >> president trump has publicly expressed regret as appointing jeff sessions of attorney general. in a series of tweets he says there are lots of really good lawyers in the country, he could have picked somebody else. trump and i

month,ek or earlier this treasury secretary stephen mnuchin led a delegation to beijing. it did not seem much came out of those negotiation, -- negotiations, but the u.s. asked for a cut. that appears to be what the chinese are offering. the white house has not confirmed it, by multiple reports are out. that is something the trump administration is looking for. we heard president trump change his tune on zte. that was a request from chinese president xi himself. maybe there is movement on the trade front here. betty: may be, but what about movement on north korea? the president seems to be contradicting the national security adviser. what is that about? greg: president trump was talking about north korea and he outright contradicted national security adviser john bolton. boltone weekend john said libya would make a great model for the denuclearization process that the u.s. is seeking from north korea. north korea is not as keenly aware as what happened in libya. i gave up nuclear weapons than two years later he was overthrown and killed in an uprising backed by the u.s. n

wenne: right, and of course have seen a perhaps a bit more negotiation with stephen mnuchin about perhapss a question about whether the leader will relinquish control as well. that will also be affecting the price here in hong kong, where they trade as well. we will continue to watch the headlines coming through. betty: a quick check of the headlines here, citigroup and goldman sachs will be chosen to advise on a global ipo for the automaker. we're told, they are discussing a range of 15-30,000,000,000 dollars on the stock sale. meetings were held in hong kong this month to discuss the wall listing in many venues. yvonne: the biggest fall for this company since january, growth margins stopping dropping this year. guidance of high single digit revenue growth also fell short of revenue expectations of about 14%. betty: facebook shares have recovered from the data scandal that landed the ceo in front of congress. facebook has been scrambling to address privacy policies after revelations in march that a consulting firm gated data into tens of millions of unknowing users. shares had closed at

>> we know this lists of demands was presented before the stephen-mnuchin led team arrived on thursdays a list of demands they wanted to discuss in the two days of talks in beijing. we don't know how they were received. wally do know is that they has,d why news agency saying there is agreement on some issues but there were major disagreements but the two sides have agreed to keep on talking. tom: what are they agreeing to -- francine: what are they agreeing to? is it the chinese say we promise access to financial markets? we will just do it quicker? are they counting on a faster timeline? or is it new agreements? ? >> we don't know at all what they have agreed to. they haven't given us any details. we have not got details from the u.s. they went into the negotiations with this lengthy and audacious list of demands. surplusunt of the trade of $200 billion by 2020, that was just the first of a long list of demands. i am reading from it now. government-sponsored cyber intrusion and theft. the china accord preferential access to the u.s. to some of its markets immediately and that it not h

stephen mnuchin is taking the lead in these discussions. but there are trade talks, leigh kiser, ross and navarro not totally comfortable. >> but where does john bolton's stand on this? even make pompeo who's running the cia, they understand the grave nature of what china is doing with technology. >> especially since we had a whole discussion as a result of the transfer of technology china is doing then all of a sudden that treat from the president has a lot of people questioning what does this mean is he completely reversing course despite national security concerns? >> what is the bigger deal he wants to get done and how are his advisors asserting himself. it might be the mnuchin got his way on this, but wilbur ross went to china a year ago and came back with a deal on steel, which the president slapped down and exiled for a little while. is this mnuchin moment in the sun? >> when he announced the steel and aluminum tariffs. bob is laughing, but if you embarrass the president, i would say that was an embarrassment. whether he did or not,

who's surprised stephen mnuchin hadn't heard that? a little surprised but i'm not sure the context was referring to. train to what is going on with truck drivers? >> you see offering bonuses to more drivers and state offering bonuses to more people that moved to their states for jobs. those are the types as signing bonuses. you start being that oil companies and energy is recovered. you see those sorts of things than the higher rate both at elevated levels back to the prerecession peak. that is a solid plan for the economy. maria: what does this mean for the federal reserve? not if it keeps going. from our standpoint as i discovered three more times this year. maria: does that worry you that perhaps they could overdo it because we talk a lot in this program about the weakness in the consumer that perhaps the consumer stating the savings they got from the tax plan as opposed to spending it. >> consumers doing pretty well. when you look at the income generation for the labor market with jobs, ours and wages, consumer is very well suppor

speaking from outside the white house, treasury secretary stephen mnuchin defended the decision to keepdte alive. >> i want to be clear. people are kind of making this too big of a deal. let me be very clear. first of all, not a surprise president xi asked president trump to break into zte. we are trying to put the company and enforce the behavior. jon hilsenrath with us this morning. her thoughts on the deal for zte. with the auto terrorists are coming down and with the broader parameters of the deal they announced yesterday with the chinese say they are going to be increasing the imports agricultural products. when you add all of this outcome it doesn't look like the u.s. is getting a ton. we are getting a little bit more on the export side and a little bit more on agricultural and energy products. maria: in fact, when you look at the important issues as it relates to china, not doing anything at all for american business in the steel and that is the best of intellectual property come in the forest transfer that china does from american companies, even the opening of markets of issues

meanwhile, treasury secretary stephen mnuchin continues despite downside to the labor market. top stories in the journal, how bad is the labor shortage? cities located in that they are. and he said he hadn't heard of it. listen to this. >> would you say to managers and i'm sure you've heard it a lot. i can't find the people who put in jobs they have available. is that about trading? >> i think some of it is trading. i am not hearing that from the companies they speak to. maria: this of course coming before he arrives in china tomorrow for the trade talks. i think china recognizes at this point they are not able to do things the way they have been doing things. we probably will see some changes coming out of china. dagen: some small things. the indications seem to be the one issue that jon hilsenrath producers who don't have president trump going on this trip. he has this trade delegation in whatever they come back with, president trump to give it a thumbs-up or thumbs down and resolve that with wilbur ross but the deal from china and president trump said no go. this was last y

maybe steve mnuchin got an advance copy and will read it on the way home. stephencom, i love the new look. elon musk did not hang up on bloomberg.com and go to youtube today. we feature tesla up top and a lot on politics. i am thrilled at what general shipley and general o'brien have done with bloomberg opinion. stay with us worldwide. this is bloomberg. ♪ ♪ >> this is "bloomberg surveillance," i'm taylor riggs, let's get the bloomberg business flash. bp deciding whether to buy energy access. according to people familiar, seeking more u.s. shale. the energy producer working with morgan stanley, bp might team up with buyers. they could swap conventional oil and gas assets for shale. amazon wants to tap into the $30 billion years pet food industry. launching a brand called, wag. starting off with private label dog food and expanding. the rand is available only to amazon prime subscribers. the ceo of a deed is company does not support kanye west's controversial remarks suggesting slavery was a choice. west is a designer. adidas told bloomberg has not discussed droppin

mnuchin stopped off at the milken institute global conference on his way to china for trade meetings, bloomberg's stephanie flanders asked him if he is concerned about the state of the bond market. stepheni think the good news is the u.s. treasury market is the most liquid and robust market in the world. and while i won't comment on interest rates because i respect the independence of the fed, what i will say is the market, the forward curve, expects interest rates to go up. how much it goes up and how fast it goes up, we will see if it is more or less than the market predicts. but part of the reason we see interest rates going up is because we have created economic growth. that is a good thing. so we have been focused on targeting 3% sustained gdp. and part of the reason why interest rates have backed up is because of that economic run. stephanie: bob michaels said on bloomberg this morning, he had never seen as bad the market supply conditions in the treasury market, so much supply coming on, and also central banks, the federal, others running down their balance sheet, so many things coming together. steven: well, let's just say again, it is a very large, robust market. it is the most