steve mnuchin says it will be in the form of a postcard as promised. was speaking at a news briefing marking the six-month anniversary of the tax overhaul. republicans had promised the revamp would make filing taxes as simple as filling out a form the size of a postcard. one a crucial brexit vote in parliament. she won on the issue of the so-called meaningful vote. the vote was over whether made should take the u.k. out of the eu without a deal. parliament once a meaningful vote. moving forward. global news 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 countries, global news 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 i am mark crumpton. this is bloomberg. "what'd you miss?" >> the corporate pension industry has been quiet the targets way to run the market. columnists ision here with the story. grinder to have you with us. talk about -- brian good to have you with us. talk about the drivers here? >> there is so much going for the pensions right now. in the public space ther

start the send to larry kudlow and steve mnuchin. guys who understand if you want to push back on china, which i believe is the right thing to do as well. let's come up with a comprehensive plan to rally our allies around it and stop putting into place these blunt tariffs, which conspire out of control and ultimately hurt amican consumers and american companies. maria: but let's not forget these are important issues. hurting american business has been happening for decades now because china feels the intellectual property, while not even admit that they're doing it. >> why would you want the white house to hurt american companies? for a start you've got the trips agreement and the wto in intellectual property. you can rally allies to run restricting investment in china or selling sensitive technology. >> would have the chinese is safely in the european and japan

steve mnuchin denied china was a target, but said he would hit all industries. steve mnuchin called the markets drop an overreaction. >>> ahead, the secretary of defense landing overnight in china. a critically important trip with north korea. trade and security issues at play. will ripley is live for us in beijing. that is ahead on "early start." yould apply for amedicaree plan whenever you want. no enrollment window. no waiting to apply. that means now may be a great time to shop for an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. medicare doesn't cover everything. and like all standardized medicare supplement insurance plans, these help cover some of what medicare doesn't pay. so don't wait. call now to request your free decision guide. it could help you find the aarp medicare supplement plan that works for you. these types of plans have no networks, so you get to choose any doctor who accepts medicare patients. rates are competitive, and they're the only plans of their kind endorsed by aarp. remember - these plans l

now, for his part, steve mnuchin says he has conveyed some of these concerns back to the white house back to president trump. and what has president trump said? so, there has been no official reaction from the white house, at least not yet. but the president has been tweeting on the topic of trade throughout the day, slamming what he calls "unfair trade" and "stupid trade," saying that he wants to see a "rebalancing of trade" with some of these key allies that he has imposed tariffs on in the past few days. that could set him up for an awkward meeting this weekend. he is going to quebec, where he will meet with other g7 leaders, and i think it is highly likely the issue of trade will come up. and i guess all of this suggests that these countries want to talk first, before getting entangled in serious trade wars? they are definitely looking for some sort of concession from the us, or even a reversal of the tariffs imposed this week. the us, for its part, says the imposition of tariffs is not preclude negotiations. wilbur ross was in paris this week where he met with eu officials ahead

definitely an awkward couple of days there's big us treasury secretary steve mnuchin.fter these big set piece meetings, all of the leaders assembled will issue some sort ofjoint statement leaders assembled will issue some sort of joint statement to leaders assembled will issue some sort ofjoint statement to show leaders assembled will issue some sort of joint statement to show this is what we discussed and agreed on, show that they are all unified and together but it didn't happen this time, clearly a sign of the discord among the group. on top of that he saw the french finance minister said the us had just days to address their concerns, not weeks, orthe the us had just days to address their concerns, not weeks, or the us risks sparking a trade war. for his part, risks sparking a trade war. for his pa rt, steve risks sparking a trade war. for his part, steve mnuchin says he has conveyed their concerns to the white house we will see what sort of reaction they have in next couple of days. has there been any reaction from the president to this? no official reaction but h

definitely an awkward few days for us treasury secretary steve mnuchin.ormally after these big meetings you get a joint statement from all the ministers who were in attendance, summarising what they talked about and what they hope to accomplish going forward. that hasn't happened after this one and thatis hasn't happened after this one and that is a clear sign of discord in the group. on top of that we have the group. on top of that we have the french foreign minister coming out with a very strong statement, saying the united states had just days to avoid potentially sparking a trade war with some of its closest allies. for his part, steve mnuchin says he has conveyed some of these concerns back to the white house and back to president trump. and what has president upset? so, there has been no official reaction from the white house, at least not yet. but the president has been tweeting on the president has been tweeting on the topic of trade throughout the day, slamming what he calls on fair trade and stupid trade, saying that he wants to see a rebalancin

steve mnuchin played down talk of us isolation, saying his country believes in the g7. think our leadership on the economy, which is one of president trump's major objectives, that national security, is not only good for the united states but is good for growth around the world. and, if anything, that additional growth is potentially leading to us even more reason to want to focus on these trade issues. signing in measures against cheap steel and aluminium imports was a key campaign promise for mr trump. he said china was a key offender but now, america's allies have been hit too. the tariffs on the eu, canada and mexico have led to a heated response. canada is imposing dollar—for—dollar countermeasures and the eu says it is taking the matter to the world trade organization. the message from six of these finance ministers — there could be a trade war within days. so if this meeting has been tense, next week's summit of g7 heads of state could be even more difficult. lebo diseko, bbc news. a short time ago i got the latest from our business correspondent paul blake in ne

maria: don't go anywhere, more of my interview with steve mnuchin. plus larry kudlow and ivanka plus larry kudlow and ivanka trump coming up right goodnight clocks goodnight socks goodnight stars goodnight air good night noises everywhere time to say goodnight. goodnight (sfx: shopping mall ambience) (group conversation) ♪oo waa ahhh ♪wooooo oo waa ahhh ♪it's a beautiful mornin' thank you ♪it's a beautiful mornin' ♪ahhh ♪each bird keeps singin' his own song♪ ♪so long ♪i've got to be [music] [music] maria: welcome back to our special one-hour edition of wall street. now my interview with treasury secretary steven mnuchin. you cut the corporate tax rate to 21% and critics say it's not helping others. why the focus on lowering the corporate rate and what impact has it had? >> i traveled with the president during the campaign. we literally met with tens of thousands of people. we met with small business and big business. we heard two critical things. please cut regulation and allow us to do business and give us a competitive tax code. if we can compete f

steve mnuchin has long been regarded as one who favors negotiations to solve these things. people are telling us that maybe he has been convinced by the more hawkish members of the white house. they may need to use more blunt tools. navarro waspeter backing away or trying to calm. when the market was selling off. investors are saying how long am i going to keep on listening to this rhetoric without saying there might be some tangible negative effects? >> that was an interesting twist. this is maybe the biggest trade out in the white house. he tried to dial it back on a day when stocks got hammered. it makes me think there may be a live debate going on in the white house. the european officials are meeting with the chinese. this may be another slightly different flavor. it might be stronger push back. we are not going to take it -- that kind of thing. >> these are the two training blocks. china and the eu are saying that we oppose unilateralism and protectionism of course. they came out with that statement yesterday and they are saying that the global economy could be headin

maria: don't go anywhere, more of my interview with steve mnuchin. plus larry kudlow and ivanka trump coming up right you're headed down the highway when the guy in front slams on his brakes out of nowhere. you do too, but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges. how mature of them. for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. liberty stands with you. liberty mutual insurance. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. hi.i just wanted to tell you thdependability award for its midsize car-the chevy malibu. crowne plaza. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and t

maria: don't go anywhere, more of my interview with steve mnuchin.lus larry kudlow and ivanka trump coming up right it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. ♪ he eats a bowl of hammers at every meal ♪ ♪ he holds your house in the palm of his hand ♪ ♪ he's your home and auto man ♪ big jim, he's got you covered ♪ ♪ great big jim, there ain't no other ♪ -so, this is covered, right? -yes, ma'am. take care of it for you right now. giddyup! hi! this is jamie. we need some help. maria: welcome back to our special one-hour edition of wall street. now my interview with treasury secretary

looks to boost an existing federal body chaired by steve mnuchin more when we come back sif. >>> welcome to "street signs." i'm joumanna bercetche these are your headlines don't expect an asylum agreement at today's eu summit, that's the message from angela merkel who says they have a way to go on migration. >>> european markets are under pressure as the u.s. tightens investment restrictions. >> the president was very clear, we'll treat china the way we treat other people to the extent we're worried about transactions, we will block them >>> the white house and kremlin agree to a summit between donald trump and vladimir putin after the nato meeting as washington defends the president from criticism over his stance towards moscow. >>> and h&m second quarter profits fall more than expected as higher markdown levels and growing inventories weigh on the world's second largest fashion retailer >>> good morning looking at the mood in europe. today it's more positive, but the session in asia was mixed with the chinese index, the shanghai composite struggling a bit yet again, down 1%, officially

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i want to also thank secretary steve mnuchin, who is here. thank you, steve. secretary ross. secretary acosta. [applause] and administrator linda mcmahon, friend of mine for a long time. where's linda? where's linda? thank you. and also paul just got -- just left. i said, go, because we have to pass legislation, we're passing so much. look at what's happening with our supreme court. look at the victories we've had. look at the victories we've had. and, terry, i didn't speak to m about, it but he'll be particularly happy about one of those victories. do you know which one i'm talking about? i think you do. i want to thank paul ryan. i want to thank our great congressman, glenn grothman, yeas glen? glen, thank you very much -- where's glenn? glenn, thank you very much. great job, glenn. and we have so many other officials. but i have to thank a man who i gave it to, i -- it's like handing the football off and he ran for 2,000 yards that game. because most people couldn't have done it. terry and i have had a great relationship and terry was and ng about doing this, you want to t

steve mnuchin is bullish on what the next six months and beyond will look like for tax reform and the economy in general. >> a lot of the growth that you're seeing now is the impact of the tax cuts, the impact of the bonuses. but you're going to to see this throughout the next year in a large way. >> in of the critics had complaints going into all of this saying how is all of this going to be paid for. they were worried that this could drive a hole, a continuing hole into the federal deficit. today those criticisms were reunited when larry kudlow said the deficit is coming down rapidly. the numbers released 2017 october to may, the deficit was $433 billion and in the same time frame in this fiscal year it's increased nearly $100 billion. melissa: i don't know. we'll get all of that tariff revenue to plug the hole. jack and carol are back. what do you think about tax cuts 2.0, maybe another cut to the corporate tax rate. carol? >> oh, i think it's music to my ears, especially if we see it for some of the small business owners that sort of hisse misset the first time around. and i think

do were know how steve mnuchin feels, steve mnuchin does not get along with peter navarro.t is the rest of the white house? >> well, we know steve mnuchin has been red t red are the etic to say the least. the process that is controlled by the treasury secretary, you can imagine he wants as much oversight and control over that process as possible. we also know after larry kudlow's heart attack last week, he's not been in any of these meetings. he likely would have stopped to bat down the idea of tariffs. there are certainly divisions but at least now the president believes that this is the way to show china the u.s. means business. the chinese government. are you kidding me, shut the front door, what is going on with this testimony? >> reporter: well, this is something that the secretary is being asked about right now, ron widen who is the ranking member in the senate finance scompht raised the issue in his opening remarks so that is not the last we heard of it. yesterday, secretary ross issued a lengthy statement to cnbc in at least one of those companies. a shipping compan

session, some the comments from steve mnuchin. mentioned them in number of times, trying to soften the 10. to have my commodity currencies? can i show you what is going on? maybe not. i can to you the story. those guys are under pressure, and that is exactly what happened in the session today. i wanted to point out more broadly the relevance of emerging-market currencies. you can see some of the out performers. energy, under pressure on the downside. perhaps it's knows apprise that the south african rand, down 8/10 of 1%. that as we've got the pboc cutting rates. joe: on commodities, let's take a look at oil and gold, oil selling off, markets still digesting last week's opec deal. oiletty big surge the friday, giving some of that back today. gold, isn't that incredible? nobody buys gold on a day like this today, but overall -- julia already hinted at it -- the bloomberg commodity index, down 1.3%. those are today's market minutes. julie: for more on today's market action, let's bring in chief strategist peter koresh. something i f

i want to also thank secretary steve mnuchin, who is here. thank you, steve. secretary ross.ecretary acosta. [applause] and administrator linda mcmahon, friend of mine for a long time. where's linda? where's linda? thank you. and also paul just got -- just left. i said, go, because we have to pass legislation, we're passing so much. look at what's happening with our supreme court. look at the victories we've had. look at the victories we've had. and, terry, i didn't speak to him about, it but he'll be particularly happy about one of those victories. do you know which one i'm talking about? i think you do. i want to thank paul ryan. i want to thank our great congressman, glenn grothman, where's glenn? glenn, thank you very much. reat job, glenn. and we have so many other officials. but i have to thank a man who i gave it to, i -- it's like handing the football off and he ran for 2,000 yards that game. because most people couldn't have done it. terry and i have had a great relationship and terry was thinking about doing this, and massa san, you want to talk about another succes

steve mnuchin said he is expecting a big number. so what will it be?ckbuster quarter for growth and what is next for the dollar. still with us is our guest. first of all, dollar dynamics. it is what emerging markets and the fed want to know. where do you see the dollar going from here? one .15 has been the level -- 1.15 has been the level people have been focusing on. we forcast at 1.14. there are risks to the downside of the euro. ecb, that is dialing down on its rhetoric on monetary policy tightening. the u.s. growth story is entrenched. we know growth is strong and the is what markets will focus in on. francine: is the trade war inflationary or deflationary? kamal: in a trade war environment, tariff war's high prices and that should be inflationary, but it is not part of our core scenario. we see core inflation heading around 1.8%, 1.9%. that should keep the fed on course for four hikes this year. of itself, be a support for dollar sentiment. emerging markets have pretty much held it together. some that have had to preempt the move. what happens fro

us treasury secretary steve mnuchin confirmed that the tariffs will not be applied to just china, but and finally in the huffington post, a study by the british royal college of physicians says smokers should be allowed to smoke electronic cigarettes at nhs hospitals in a bid to persuade people to kick the habit. so let's begin. with me is nina trentmann from the wall streetjournal. welcome back. let's have a look at the headline in the independent. porridgejohnson said he would never approve his vote. but he didn't have two because he was sent out of the country, screw about, disappearing, dingy? —— boris. we found out that he was in afghanistan. convenient that you sometimes have big trips without much notice. this is based a lot of criticism, avoiding the vote by going to get a son.

steve mnuchin pick 8:00 o'clock eastern time and maria will sit down have ivanka trump. 6:00 o'clock sports outrage at the world cup as japan backs off in world cup match against poland giving them a huge black eye. one of my favorite names. tiger woods pick from jared max with highlights. let's take a look at markets. dow futures to open 144 points. nasdaq up 39. you're watching fbn:am. just another day on the farm. or is it? this farmer's morning starts in outer space. where satellites feed infrared images of his land into a system built with ai. he uses watson to analyze his data with millions of weather forecasts from the cloud, and iot sensors down here, for precise monitoring of irrigation. it's a smart way to help increase yields, all before the rest of us get out of bed. >> i'm not your charity case. >> i am not your excuse to buy a new dress for the annual fundraiser. >> i am not the poster child for your big donation. >> i am out of debts and in my own home. >> i am off opioids. >> i'm graduating on time and on my way to a great job. >> i am. >> i am. >> we are. >> we are.

there is the larry kudlow faction and the steve mnuchin faction that are more globalists , and there is the more conservative wilbur ross faction. who will come out on top is playing out before our very eyes. shery: i am confused. david: you are not the only one. [laughter] shery: nafta much be approved by congress and paul ryan said there was a deadline of i believe may 17 but we are past that. >> there is broad consensus that any new nafta deal could not be passed before the next session of congress. there is not enough time. anything they do come up with will have to wait until after the midterm elections. that could turn out to be problematic if the house is able to overturn the gop to democrats. shery: this overhaul you mentioned, there is legislation and secretary mnuchin backs the legislation, instead of executive action, especially with chinese investment. >> that is the reporting we have, steve mnuchin is supportive of the legislative route, rather than executive order that would freeze zte to buy u.s. equipment. a national security concern. this is the factional's asian --

that's being seen as a victory for treasury secretary steve mnuchin. the us is not alone.ean union has been looking into curbing certain foreign takeovers — especially by state—controlled companies — after concern from germany, italy and france. in germany for instance, investments by china havejumped from $124 million seven years ago to over $14 billion last year. paul blake in ny has more. it has been a rough ride for wall street so far this week as they have tried to make sense of what the drug administration was planning when it comes to the subject of china. market here on monday would do, and tumbled, on the news that the resident was considering a two prong approach, a major attack on chinese companies importing to america and vice—versa. are confusing set of m essa 9 es vice—versa. are confusing set of messages on tuesday left investors are scratching their head, nervous about what was being hatched out in washington. by wednesday was clear the president was taking a softer approach, promoting new legislation that would boost panel the refuse foreign investment her

alix: the chinese ministry did not respond, but secretary steve mnuchin took to twitter to disputed,ing that on behalf of president trump, the stories in bloomberg and wall street journal are false an fake news. >> there is a lot to sit through as we see the selloff and reaction to the news that the administration was considering investment curbs on china, in a u.s. technology firms. we just heard from peter navarro who said that there was a thenderstanding about administrations trade policy, saying that there are actually no plans to implement investment restrictions on china and others. could the market action today have dissuaded the administration from putting those curbs in place? >> we have seen this situation where markets go down because they see changes in policy, then a spokesman who has been a cheerleader for that particular policy goes out and says, nah. that is not what i meant and increases uncertainty. >> race to rebound shares up today as the ceo shrink the company in order to save it. >> this is a radical break up, what people have been waiting for, and it goes a lon

it is an olive branch and it's a win for secretary steve mnuchin and the treasury department. much lower. the dow industrials are down 50 points. you're seeing investors react to this. the trump administration is throwing their full support behind the legislation. >> that legislation passed out of the house, 400-2. you don't get those kinds of votes in the house on anything anymore. it's well supported on the hill. it's going to conference in terms of legislation. i think donald trump will sign it. that is a good sign in terms of strengthen the cfius process. dagen: what wea we've seen in e back and forth on trade, the tit-for-tat, we have $50 billion in tariffs implemented starting in early july and president trump floated the idea, maybe it will be another $200 billion of if china retaliates, maybe another $200 billion on that. wall street and investors have been talking about $450 billion in potential tariffs. that's almost the 500 plus billion that we import every year from china. again, if this backs us away from that, this backs us away from additional tariffs, this is g

treasury secretary steve mnuchin said next week it's going to be unveiled. new 1040 form, it is the size of a post card. melissa: i can't wait for that. you know how tax stuff excites us. david: here's jonathan hoenig, capitalist pig hedge fund founder and todd horowitz, the bubba trading show host. todd, start with you and the proposal, it's coming from our ambassador from germany, ric grenell who's done a fantastic job working with car manufacturers in germany, they're among the biggest in all of europe. they want to get rid of all tariffs, the absolute opposite of a trade war, zero tariffs on both u.s. cars coming into europe and european cars coming into the u.s. is this trump's deal-making paying off? >> i think so, i think this is what we're trying to get to, david. we want to get to a point where there's no tariffs anywhere, we have total free trade without government help, without manipulation, without anything else. let the free markets trade. send them cars without tariffs, us cars without tariffs. do it on all products and we're much better off. d

steve mnuchin says he will pass comments onto the president trump but he insists that the u.s.complying with international trade rules. this goes of course back to thursday when the u.s. said they would go ahead of tariffs of 25 percent on steel imports and 10 percent on aluminum. the eu is concerned the tariffs to be damaging to the europe industry. and they warned they could retaliate with tariffs of its own on u.s. steel and food. >> this is very unfortunate. it will cause a lot of damage to the steel and aluminum industry. it is unfortunate because the motivation behind it the section 232 that the americans are using, internal security. is not relevant. it is pure protectionism. europeans express to the nicest cannot be seen as a threat to their internal security. >> and meanwhile, the u.s. secretary is in beijing with talks with chinese counterparts. this further complicates by this war of words with allies over trade. next week, they are set to be in canada and president trump is expected to address the issue of trade concerns. >> very interesting, thank you so much. kitt

the finance minister calling for action urging treasury secretary steve mnuchin to deliver ahead of themmit in quÉbec. >> in canada, we've been clear. we think the action is an appropriate observed to consider security risk to the united states and therefore we've taken a targeted and considerate approach to retaliation. >> the upcoming g-7 summit wal-mart trumps first visit to canada as president. >> also the past few hours, china warring president trump against earthquakes as well. the chinese government releasing a statement to a news agency saying the united states introduces trade sanctions and all the economic and negotiations by the two parties will not take affect their financial analyst, nice to see you as always. to mainstream americans who say look, we are having our lunch in providing these other countries. is there a danger these other companies retaliate? >> canada has argued mass retaliation an amount equal to what the u.s. has imposed on canada. that is still up for talks and negotiations of course as we pull back on steel and aluminum terrace with canada, mexico and the

that's my prediction -- i think that's your projection too, steve mnuchin. that's his projection too. you better be right, steve. [laughter] in the first quarter of this this year, american companies repatriated a record $300 billion that would have never come back to this country. it's overseas profits, bringing the money back home to our country where it wrongs. i think -- belongs. i think we're going to have 3, maybe $4 trillion before that's all over. it was impossible to bring that money back, virtually, for a lot of reasons. now they're coming back. in fact, apple -- as you know, terry makes a lot of the product, laptops, iphones, makes a lot of them for apple. and apple's spending $350 billion -- billion! there's another case, i would have been happy with 350 million, right? but they're spending $350 billion on plants, on building an incredible campus. and terry's very happy about that. we're also reclaiming our country's proud manufacturing legacy. that's why it's so important that we open up our steel mills again. we need that for purposes of defense

about chinese investments, curtailing possible chinese tech investments the treasury secretary steve mnuchin said five hours ago that a statement would be forthcoming and we still don't have it. when might that be coming? what exactly is the administration stance on this? >> again, as the secretary said a statement would go out that targets all countries that are trying to steal our technology, and we expect that to be out soon. we will keep you posted. john? >> thank you very much, sarah. back on immigration, in terms of what the president envisioned for the immigration policy that he'd like to see put in place, should asylum seekers be able to get their case heard before immigration judge? >> certainly there is a process in order to go through. there are points of entry that asylum seekers should go to. we encourage them to work through the system and not come across the border illegally. in fact, anyone that goes to a port of entry seeking asylum will not be prosecuted, and we would encourage people to use the correct system and not try to break the law. >> following up on what blake aske

reporter: you have steve mnuchin on our network early morning dismissing the axios report saying it's not true. he did admit the president has issues with the world trade organization, 164 members, they negotiate and try to reduce barriers to commerce, but later on, our network, fox business news, the editor in chief of axios said it's funny when you said the claims were exaggerated but didn't say they were wrong. have you all the talk about the world trade organization and one country turning to the wto is canada, set to argue against the steel and aluminum tariffs imposed in march. not happy with the situation which is why they have said this sunday, they're going ahead with the retaliatory tariffs. why this sunday? sunday is canada day, celebration of canada. going ahead with the tariffs worth roughly $13 billion of u.s. goods, putting tariffs, and you had erltoday president trump speaking about the tax plan saying it's benefitting farmers and benefitting the united states, however, we interviewed a farmer yesterday and he actually said he believes the tax cuts will be completely w

level again with the ambassador and the commerce secretary wilbur ross and treasury secretary steve mnuchin. talk is the best remedy here. we have different points of view there aretical questions. my view, we can get through this. we have in the past. >> tension with stalwart allies not give him -- [inaudible]? >> there's always tension about something. there's always tension about something. last one? >> help us understand how to read the president's rds. he tweeted this week best economy in jobs ever but unemployment as you know t there's a good story to unemoyment a all time low, gdp growth is not all-time high, while the economy is doing well, how should we read the president's words? sh it hyperbole? should we not take him literally? >> it is factual. 3.8% unemployment is among the lowest on record. >> among. it is not the best ever. so it is hyperbole, would you agree? >> he's stating facts. the facts stand on their own. i'm not going to quibble with you on such things. regarding 3% growth, virtually every economist on the other side of the aisle and they are friends of mine, many of

treasury secretary steve mnuchin wasted almost $1 million on travel expenses and attorney general jeffessions who spent $3 million on an experimental bunny stretching operation -- body stretching operation. looks great. ( laughter ) no one in washington has been as consistently caught in scandal as e.p.a. chief scott pruitt. his scandals haven't come from him working to destroy the environment. they've come from his side husband also. normally when you find out about corruption in d.c. it makes you mad, millions in bribes! but with every pruitt revelation you go, what? >> this morning the controversies keep coming for e.p.a. chief scott pruitt. e-mails show pruitt had one of his people reach out to chick-fil-a. >> he used his position to get his wife a franchise with chick-fil-a. even more astonishing, it's all in writing in government e-mails. >> trevor: you know, i will be honest, this is not the fast fort hood scandal i saw coming out of the white house. if anything, i thought it would be trump getting in trouble for pardoning the hamburglar. in case you didn't know, the hamburglar

the six other members asked secretary steve mnuchin to express their anger and concern over the tariffsnd u.s. reported strong job gains. this morning stocks edged higher despite fears of a trade war. >>> and u.s. stocks posted strong gains friday after a stronger than expected jobs report closings out a shortened holiday week. >>> tech stocks were the big gainers. both the s&p and nasdaq finished thq gained over 1.5% of its value. >>> the potential trade war could hurt the airline industry, according to aviation executives. they say measures that reduce trade and consequently soften the demand for business travel are not good for airlines. the group represents the world's main airlinelines. it held its annual meeting in sydney. manufacturers boeing and airbus say the trade was bad >> laura podesta here in new york. thanks, laura. >>> still ahead, happy tails. two shelter dogs who have become an internet sensation have great news for their social media fans. internet sensation have great news for their social media friends. entresto is a heart failure medicine that helps improve your he

let me sum up what secretary wilbur ross and treasury secretary steve mnuchin explained when they met with a group of concerned senate republicans on wednesday afternoon. the administration seems to be seeking to make a deal because the chinese have made it clear they will not deliver trade-related concessions like producing more agricultural goods and energy from the united states without an agreement that lists this -- lifts this order. that is what a person familiar with the matter said. american technology firms may face retaliation from the chinese government is zte shuts down. javier: this is clearly something china wants. this sparks criticism once again because some say this proves that trump is not being tough on china as he promised. what is the perception there? sophie: i think many people are really stretching -- scratching their heads over it. president trump started this potentially costly trade war with china in large part because he says china has stolen american jobs by flooding the market with cheap imports. and now trump says he wants to save those jobs. his willing

treasury secretatry steve mnuchin sainew tariffs on chinese products were "on hold" when china reportedly agreed to purchase more u.s. made goodsow and nats more than $300 billion annual trade surplus. amid the trade tensions, defensa secretary jameis denounced china today for deploying military equipment on a disputed chain of manmade islands in the south china sea. mattis called the strategy" intimidation and coercion" of china's neighbs in the region. last week, the pentagon disinvited china from planned international naval exercises because of its militarization of the islands. mattis made his statements in singapore, where he is attending an international meeting of defense chiefs. on the subject of the possible u.s.-north korean summit, mattis said changing the status of u.s. troops in south korea will not be on the table, and he promised agin that the goal is to remove all nuclear and other weapons of mass destruction. >> our objectives remain as stated by minister onodera-- the complete, verifiable andve irible denuclearization and removal of all w.m.d. on the korean peninsula. >>

steve mnuchin hailed the move in talking to reporters on wednesday. >> monday, bloomberg reported that mnuchin and the treasury department are ready to use a to discuss the new plan. , a venturem beijing fund that has invested over $1 billion in the last three years. i will start with you. what happens now? >> donald trump is going to rely on legislation to strengthen the laws that already exist. a transparent, interesting group of folks that are looking at each individual investment coming in and what they want to do is strengthen that even more. that means taking a look at inflect ventures and smaller deals that used to fly under the radar. >> as someone investing in china and u.s. technology, how does this affect your strategy? >> we look at this as a bone. we want this type of action led to greater self-sufficiency. i think this action and things eyes tot open people's how empty when it comes to court tech. it led to a push over the last few months and allow pouring into new areas. thean expected move here, one that started were you will see more innovation and development. reactio

that's being seen as a victory for treasury secretary steve mnuchin. the us is not alone. european union has been looking into curbing certain foreign takeovers, especially by state—controlled companies, after concern from germany, italy and france. in germany, for instance, investments by china havejumped from $124 million seven years ago to over $14 billion last year. we'rejoined by the independent research analyst stephanie hare. good morning. what do you make of this latest move on the part of the trump administration? we can characterise this as a de—escalation of the brewing trade war between the us and china. president trump abbey option to go for something called aiba which would have been the international emergency economic powers act and that would have allowed him to block acquisitions and use the executive branch of the us government but instead we can see this as a victory for steven mnuchin who wanted this to be channelled through congress. it will be an inter—agency process which will be reviewing any time a company that has a 25% minority stake with a fore

you heard steve mnuchin talking about it. the white house source told me this afternoon, a great example of promises made, promises kept, neil. >> neil: and they're saying from that, seven out of ten taxpayers could use that form? >> yes. simple, simple. if you're not making a bunch of itemized deductions and you don't have property and businesses, this is the thing. this is the ticket, man. i have to tell you, when you look at it and it's so simple, you can really change the game in terms of what people do in terms of tax preparation. i love it. i can't probably use it myself. but for the people that can, get for you. >> neil: you have all of those investments all over the world. >> what can i tell you. >> neil: thanks very much. by the way, we got a comment from the accountants foundation on this, what this means to their business as a result of taxes that you could fill out on a card. goes something like this. ahh! they didn't like it. all right. let's get the read on this from heather, john is here as well and deidra bolt

imf chief christine lagarde says the treasury secretary steve mnuchin has criticized the u.s. forecast. >> he regards the medium-term outlook as too pessimistic. and frankly, i hope he is right and we are wrong. because that would be good news for the u.s. and it would be good news for the global economy as well. jenna: the world's rich keep getting richer. and they are doing so a lot faster. global personal wealth reached almost 202 trillion dollars last year, up 12% from 2016 and the strongest annual growth in five years. millionaires and billionaires hold half of all global wealth of from slightly less of 45%. after overtaking japan in the last five years. they agree that sanctions north korea can show complete disarmament. penalties will soon start to be relaxed. they met with china's president trump-kim summit. >> we have made it very clear that it would only happen after the polls. >> republican senators pushing china and the potential showdown at the white house. the senate may vote in the coming days on a defense authorization bill. the senate may vote in the coming da

us treasury secretary steve mnuchin, facing his counterparts from some of the us's closest allies, unitedtration at america's latest tariffs. the americans have decided, in our mind, to take an action that is not at all constructive. it is actually destructive to our ability to get things done around tariffs on steel and aluminium. mr mnuchin played down talk of us isolation, saying his country believes in the g7. i think our leadership on the economy, which is one of president trump's major objectives, that and national security, is not only good for the united states, but is good for growth around the world. signing in measures against cheap steel and aluminium imports was a key campaign promise for mr trump. he said china was a key offender, but now america's allies have been hit too. the tariffs on the europe, canada and mexico have led to a heated response. canada is imposing dollarfor dollar countermeasures and the eu says it is taking the matter to the world trade organisation. the message from six of these finance ministers is that there could be a trade war within days. so, if th

the president has talked about wanting to get out of the wto despite what steve mnuchin and others haveook, i think it would be a horrendous mistake to get out of the wto. this is something that the united states set up uniquely benefits the united states. it protects our exports. talk to our greatest exporters about the wto and the work that the wto does. it keeps others from tariffs unfairly. it helps american free trade. it helps american trade and creates wealth. >> president trump was asked about it earlier today in a gaggle with reporters. he also said he had no intention of exiting the wto. but he did say he had problems with. so decisions they have made. while it is good. it's a good trade organization it also has done a lot to build up china. there was this idea 20 years ago if you allowed china into the world trade organization and gave them the benefits of them acting as if they are good trading partners that they might rise to the occasion. instead, they have continued all of their bad trade practices with no real good way to fight against them. so, just because the trade or

, again, with ambassador light hyser and commerce secretary wilbur ross and treasury secretary steve mnuchin. talk's the best remedy here, all right? we have different points of view in some cases. in some cases, there are ctns. mw, we can get through this. we have in the past. >> but are those tensions with stalwart allies not give him pause a little bit -- >> look, there's always tensions about something. there's always tension about something. last one. yes. >> if i can, just help us understand how to read the president's words. he tweeted this week, "best economy and jbs ever bu unemployment as you know, though there's a good story to tell, unemployment is not an all-time low, gdp growth is not at an all-time high. so, while the economy is doing well, how should we read the president's words? should we not take him literally? >> it's factual. >> but in fact -- >> 3.8% unemployment rate is among the lowest on record. >> among, correct, 2.5% in 1953. so it's not the best ever. so it's hyperbole, do you agree? >> he's stating facts. the facts stand on their own. i'm not going to quibble wit

it begins with ambassador andthizer and wilbur ross steve mnuchin. talk is the best remedy here. we have different points of view in some cases. in some cases, they are tactical questions. we can get through this. we have in the past. report[indiscernible] is alwaysere tensions about something. there is always tension about something. last one. reporter: help us understand how to read the presidents seats. he tweeted, unemployment is not an all-time low. gdp growth is not an all-time high. while the economy is doing w how should we read the presidents world -- words. is it hyperbole? 3.8% unemployment rate is among the lowest on record. reporter: among. correct. it is not the best ever. it is hyperbole? mr. kudlow: he is stating facts. the start -- the facts stand on their own. i will not quibble with you about such things. regarding her percent growth, -- regarding 3% growth, every economist on the other side of the aisle and they are friends of mine, many are good friends, said 3% growth could not be achieved we cannot do better than 1% to 2%. you heard it, i heard it, we have