steven mnuchin will be here. and larry kudlow. along with the advisor and daughter to the president, ivanka trump is here. along with the office of management and budget director mick mulvaney. and we have an extended preview of my exclusive one-on-one interview with president trump. that interview airs sunday at 10:00 a.m. eastern on "sunday morning futures" and monday morning at 6:00 a.m. on fox business network on "mornings with maria." here are the big headlines this week. reporter: another rocky week for the markets. despite a late-week rally by nike, jp more dan and goldman sachs. the markets finishing in the red in part from trade concerns. despite a strong month, consumer stocks and real estate raising rates for the second time this year. trade concerns causing the mark totes finish mixed this week. oil prices hitting a 3 1/2 year high. president trump was in wisconsin this week to break ground on foxconn's facility that could employ 50,000 people. he took a shot at milwaukee-based company harley davidson after they announ

adam: yeah, but teddy steven mnuchin's tweet was specific that the stories were fake, or false, fake news, about the investment restrictions on china , but then he went on to say there would be restrictions against all of the, there you'll see the tweet. there would be restrictions potentially on investment for any country whose businesses might be stealing our intellectual property and posing a threat to the nation. i mean this is the treasury secretary of the united states who has the authority, by the way, to implement those kinds of threats, so seems to me that we're not out of the woods yet and that steven mnuchin knows something that maybe we don't. >> well, i think two keywords. threats and out of the woods yet and i would agree that simply at this point they are simply threats and i think that's how they should be viewed. nothing is reality at this point but reality is all the uncertainty, unknown created around the threats, and that's what's creating a problem for the market. this is a giant economic geo political game of chicken, and eventually somebody's going to blink and

cheryl: investors will want to stay tune to fox business as maria bartiromo sets get to interview steven mnuchin, mick mulvaney and white house adviser ivanka trump and many more in washington. that's all this morning. fbn:am starts right now. ♪ ♪ gerri: good morning, it's 5:01 a.m. in new york. good morning, i'm gerri willis in for lauren simonetti. cheryl: good morning, everybody, i'm cheryl casone. we begin this morning with 5 people gunned down and killed in a targeted attack at the capital gazette news room in maryland, suspect in custody, jerry ramos of maryland, ramos will go before judge this morning. he had a long-held grudge suing paper for defamation over reporting of him and raising social media campaign against them. >> this person was prepared to come in and this person was prepared to shoot people, intent was to cause harm. we know that there were greats sent to gazette through social media. gerri: signs and signals that this will happen. in response to shooting police stepping up patrols and why nypd officers outside new york times and outside abc headquarters right here in new y

>> on friday, treasury secretary steven mnuchin and will release new restrictions on chinese states.ntthe united reports are that it will focus exquisitely on investments in the tech industry. >> so the treasury has until july 29 to announce a proposal on restrictions on chinese investments in the u.s. this would be in retaliation for about taking of intellectual property rights for u.s. companies operating in china. >> if we go down this road, it will only reinforce sort of our deep divide between the u.s. and china, the question has made clear that they are willing to buy more goods to close the goods deficit. but there are not willing to budge on their future investor industrial strategy. >> an inquiry about the report, but steven mnuchin took to twitter to disputed, saying that on behalf of president trump, the stories and bloomberg and wall street journal are false and 50 news. >> there is a lot on the market front today as we see selloffs in reaction to the news that the administration was considering investment curbs on china, in a firms.chnology we just heard from peter navarro

in comes steven mnuchin who says that report is completely false. he says it's notrue and later on this week we will talk about these restrictions, but here is the key. he said that it's not specific to just china. it's going to be specific to other countries, so if you go back and you look at the investigation that washington put in place to look at whose stealing ip or intellectual property it's not just china on that list. there are 12 other or 11 other countries on that list. some of the countries that could be stealing intellectual property from the united states are argentina, china, india, canada, indonesia so the list continues on and that's what's worrying investors that possibly the united states is not just goin to go after china. they're going to go after other countries. china though is not backing down you had the president xi jinping in an event in beijing last thursday. he spoke to a small audience of about 20 executives of multi- national companies in europe as well as the united states and he said that maybe in american culture and

steven mnuchin said he had donald trump. steven mnuchin said he ha d co nveyed donald trump.hat he would continue to. donald trump for the weekend has been tweeting about trade, even this morning calling out what he calls unfairand morning calling out what he calls unfair and jupiter trade. so no light at the end of the tunnel for the european prospective —— unfair and jupiter trade. thank you for joining us. —— stupid trade. here in the uk, legal action is being taken against three delivery firms used by amazon. the gmb union wants the drivers to be classified as employees, rather than self—employed, and given guaranteed hours and the minimum wage. mary—ann russon is covering this for us. the union is saying that these amazon delivery drivers should not be cast as self—employed workers rather that as full—time employees. they basically say that the reason for this is that the amazon delivery drivers work a huge amount of hours, however they are basically paid per parcel and they are responsible for their own insurance and maintenance of the van and they don't receive any of

thank you, mike, for joining us along with secretary steven mnuchin, secretary ryan zinke, representative barletta who hopefully lou barletta will be your next senator from the great state of pennsylvania. [applause] it is a great state. representative mike kelly. thank you, mike. great to see you. i want to take this opportunity to explain why young americans stand for our national anthem. maybe it's about time that we understood. we stand to honor our military and to honor our country and to remember the fallen heroes who never made it back home. we stand to show our love for our fellow citizens and our stando pay tribute to the incredible americans who came before us and the heroic sacrifices tmade. america's a great nation, a community of family, and america is our home and we love our home. and our country has never done better than it's doing right now. never. record numbers at every outpost. you take a look at what's going on. lowest unemployment numbers we've had. lowest african-american unemployment in the history of our co lowest hispanic numbers in the history of our country. l

with the white house, it depends on whose star is rising or falling, steven mnuchin has a more marketriendly and measured approach approved by the white house in terms of how it looks at trade. david: we want to bring in our colleague reporting from auto what. -- ottawa, canada. this is a popular move from the canadian perspective? >> very popular, every once -- everyone wants justin trudeau to fight back. trump is not popular in canada. escalates, thet canadian the connie could take a hit -- the canadian economy could take a hit. in principle, people like the idea of retaliating. shery: the foreign minister said weada will not escalate but know there are other issues pending between the u.s. and canada, including potential auto tariffs by the u.s. and nafta, could this change? >> absolutely. it is open to whether donald trump considers today and escalation. canada says this is just a dollar for dollar response but if donald trump thinks this is raising the stakes, a lot of people say these tariffs will not have that big of an impact on inflation, canadian growth, but if it comes to t

or what exactly this does is expand the committee, with steven mnuchin chairs to a lot of to investigateeign have as that ali potential -- that not only have a potentially majority stake in u.s. businesses, but also foreign entities who are minority stakeholders. in addition to expanding the organization, the president is calling on congress to pass legislation as soon as possible. >> it is a victory for steven mnuchin, it suggests a friendlier approach. cifius can be lobbied, the way that other governments cannot be, if your deal is coming under scrutiny, it is probably easier to influence the outcome of that decision than just going to the president of the united states. >> anthony kennedy retiring from the supreme court, the longest-serving member. he has been a swing vote on a number of groundbreaking decisions, including legalizing same-sex marriage and preserving the roe v. wade role. -- ruling. >> justice kennedy was the swing vote. of course, in the last week, we saw him citing mostly with conservatives. but you can expect that whoever does replace hammel probably shift to the ri

steven mnuchin is a really smart guy and he'll find a solution and my sense is it'll work well. liz: tell me what you think about this application for waivers. 21,000 companies in the u.s. are trying to get exemption claiming that they are crying because they're already hurt, as you put it. doesn't that kind of dead en or lessen the impact of tariffs and if the commerce department and that would be wilbur ross, starts granting these things right and left, how solid could the stance the u.s. is trying to make when it comes to fair and level trade, level playing fields, really be? >> well it not only needs to be very surgical. this waiver is you had someone on your show former under secretary a few days ago and you brought up sun power. liz: yeah. we have a company in youngstown, ohio and they are metal products one of their main customer industries and markets is the solar industry they make racking , and sun power was a big customer, right? and they've actually applied for a waiver. liz: because he said right now, they're crying because they have been hurt to the tune of $2 mill

eastern time minutes after treasury secretary steven mnuchin tweeted it is not just china the u.s. is taking on for stealing our technology, it's just about all nations. i do have what we just got after that. this is the office of the u.s. trade representative releasing its report, it's called the special 301 report. it's about 86 pages long, and it identifies 36 countries it has placed on a priority watch list. china at the very top, landing on the priority watch list for the 14th consecutive year, but you may be surprised to hear other names on this list that you would think might be friendly nations, and that's causing a lot of fear in the markets. today's actions on intellectual property theft come after reports that chinese president xi jinping told american ceos, a group of them, that china will not turn the other cheek when it comes to the economic battle playing out with the u.s. in fact, in his words, china will punch back. when you start talking about punching and hitting, you know, we're just short of a war of words turning into an actual war. all of this has investigato

his comments aligned with steven mnuchin's approach. preparing new measures to prevent a flood of steel imports from global producers seeking to avoid u.s. tariffs. the measures are said to be a combination of quotas and tariffs and of certain countries. the eu is already considering similar measures toward off steel dumping, which could be opposed to month. -- imposed next month. >> the investigation will take until the end of the year until we get the full picture. we are seriously contemplating having provisional measures in place in mid july. exactly what form that will take is still under discussion. arabia plans to pump a record amount of crude next month. it state oil company wants to boost production to about 10.8 million barrels a day. as the u.s. senate would press allies to cut imports from iran to zero by early november. the chairman and ceo of conical the let's says he is not worried about opec's plan to increase supply. muchf aes not take geopolitical impact to cause prices to go up. i think it is tenuously balanced. i don

we want to hear a lot more from you steven mnuchin. larry kudlow will join us as well.o say. booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. hi.i just wanted to tell you thdependability award for its midsize car-the chevy malibu. 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 traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45?

we have seen larry kudlow and steven mnuchin and even the more hawkish side come out and say everythinge doing here, do not blame trump. blame all the other countries. this is what got us here and we are trying to correct what has been going wrong for decades. everyone is on the defensive. i do not see they are approaching the allies and listening to them. we will see what happens at the g7. there will be a net -- a united front against the u.s. and we know president trump works on personal relationships so we will see what resonates with him at the summit in quebec. vonnie: at the same time, he also knows none of the partners wants to lose the u.s. has a partner. if he changes his mind or makes an overture, they will be willing to listen no matter what any g7 communique says. jenny: i think that is correct to assume. we have seen a lot of them trying over and over with the personal approaches to him. we have seen president choosing presidentwe have seen xi call president trump and say we need to talk about this. jim, we know potentially president trump conflict locked between general v

is this the steven mnuchin preferred version? how does that work? >> this is finally deals through a process which is a body made up of representatives from cabinet departments like defense, state, they examine the deals for potential harm to the u.s.. in the meantime, congress is moving toward giving and expanded authority for these reviews so that the u.s. can put a little bit more bite into the regulation on foreign investments in u.s. companies. that seems to be what the administration is targeting. preventing chinese and other companies from investing into u.s. companies that have critical technology. these still caps on to have a ripple effect with canada in particular. joe: right, this is an example of the global nature of trade. modern trade and how these sorts of things can ripple across the economies around the world. canada is worried that the steel toiffs of the u.s. are going cause a flood of aluminum into canada hurting their own supply and driving down prices there. the u.s. is among those countries that do export to canada, but other

treasury secretary steven mnuchin denied that china is the main target of plans to use emergency lawso protect sensitive industries. eight people familiar with the plan have told bloomberg that the white house plans to declare chinese investment a security risk in areas such as new energy vehicles, robotics, and aerospace. mnuchin says it would apply to any country planning to steal u.s. technology. a government lawsuit accusing american express of thwarting competition by preventing merchants from steering customers to cards with lower fees. blow to retailers looking to reduce the $50 billion in fees that they pay to credit card companies each year. amex shares jumped in new york while visa and mastercard fell. they assigned a settlement with brazilian prosecutors over the dam disaster at their samarco mining venture. a greater say in cleanup and reparations through a foundation created by the companies. it is races outstanding lawsuits worth $46 billion lifting samarco's chances of resuming operations. global news 24 hours a day, on-air, taikiktak and on twitter, powered by more tha

steven mnuchin has been a bit more working behind the scenes in a way peter navarro has tried to be moreere is no question this is a win for secretary mnuchin and the advocacy he has been pushing for. double down in terms of what david was saying is,t cfius and what firma in which the president is saying this bipartisan legislation that has advanced out of the senate and the house and a strong bipartisan showing rarely -- really a nonpartisan issue, that will likely end up on his desk. it would expand the scope of cfius and allow for them to go beyond -- this is a key point. right now in terms of the cfius review process, it only pertains if the foreign country has a in a u.s.take old based company. the change is happening on capitol hill would allow for a cfius review if it did not -- if it had minority stake. not just bite -- not just majority stake, now a minority stake would be able to go through the process. is chaired by the treasury secretary and made up of all the various agencies as well as the financial agencies including the commerce department. there is that criticism, but th

m was certainly an awkward weekend for steven mnuchin. he was in canada for the g7 steven mnuchin.em urge steven mnuchin to take their concerns to the white house. you even saw the french finance minister go so faras even saw the french finance minister go so far as to say the us had days to divert a trade war. for his part, steven mnuchin said at the conclusion of the meeting he had already ta ken conclusion of the meeting he had already taken some of their concerns to donald trump iphone over the weekend and he would continue to do so once weekend and he would continue to do so once he got back to washington. but the president is taking a tougher line. he was tweeting throughout the weekend, including this morning, saying big trade barriers against us farmers and other businesses will finally be broken. massive trade deficit is no longer. a tough line from the president. looking ahead to the leaders meeting at the g7, a hint from downing street here that the uk prime minister theresa may plans to speak to president trump about all of this? that is right. donald trump is scheduled

. ♪ julia: a setback and potential pushback from steven mnuchin.he us treasury secretary is on a potentially irreversible crash worse with aging, curbing chinese investments and says u.s. industry is recording -- according to reporting to the u.s. treasury secretary that has urged a less aggressive approach with china and seems to have lost the fight to some degree. they are insisting all the concerns are fake news. from house editor washington. suggesting thet u.s. is looking to use -- looking to investigate and prevents chinese investment in the u.s. going forward. and the treasury secretary pushed back. >> fake news, finally. i'm very proud today. -- steve mnuchin has kind of lost the internal fight over how aggressively they go after china for their trade practices. that has been a theme in the .eporting for weeks they publish the story about a decision the white house has expected. they choose the very aggressive law to curb chinese investment and tech companies. a lot of people think the chinese by u.s. companies in order to obtain intellectu

treasury secretary steven mnuchin has denied reports that the united states is specifically targetinghinese firms in its crackdown on foreign acquisitions of u.s. tech. following reports to the contrary in two major outlets, managing tweetie, the stories in bloomberg and wall street journal or false, fake news. he win on to say that plans to impose investment restrictions would apply to all countries accused of trying to steal u.s. technology. the final announcement is due at the end of the week. >> are investors buying the explanation? >> eveven if they are buying ths explanation, it doesn't necessarily make things better, right? not just china but also other markets and potential investors would be limited to the u.s. tech industry. so what -- what ideas circulating is that on one side, investments into the u.s. technology industry might be limited, and on the other side come also exports of technology out of the united states could be controlled more or also restricted. we did see quite a reaction among wall street, blue chips closing by more than 30000 poin, nine out of past 10 tr

[applause] us are secretary steven mnuchin who has been very busy lately. steve.ecretary wilbur ross. wilbur. whoetary alexander acosta, just came up with a great health care plan. thank you, alex. great health care plan. people are really liking it. the greatue, secretary of agriculture. [applause] administrator linda mcmahon, doing an incredible job. [applause] director mick mulvaney. [applause] and treasurer jovita carranza. thank you. thanks also to a really great friend of mine, mississippi ofernor phil bryant, and all the other state, local, federal officials that have done so much to help us with this incredible tax cut and job plan. you see how it is working. [applause] although i have to say, i think that the cutting of regulations maybe had just as big an impact. [applause] i don't want to say this to you, but i think the cutting of regulations had just as big an impact. i also want to welcome one need juanita dugan and michael balleellarmine. thank you for your support in getting this legislation passed the finish line. great team. great team. thank you

the us treasury secretary, steven mnuchin, said that he has reflected some of these views to presidenttes doesn't want to give up its leadership of the world economy. the canadian finance minister said he was disappointed. what did we ask treasury secretary to do? we said that we were collectively helping that we were collectively helping that he would bring the message back, the message of regret and disappointment, at the american actions and concern that they are not constructive. my sense is he will take that message back to washington. let's take a look at some of the other stories making the news. australia has issued an alert after 83 shipping containers fell from a vessel off the coast of new south wales during heavy swells. the items include sanitary products, surgical masks and nappies. they've begun washing up ashore and there are concerns that they could prove dangerous to whales if they swallow them. a number of people have been injured in clashes between the police and opposition protestors in the malian capital, bamako. police fired tear gas and beat the demonstrators, w

kevin: this is interpreted as a win for steven mnuchin.ho had been working with folks up here on capitol hill to the committee on foreign investment in the united states. that is a committee that the treasury secretary -- secretary position chairs. there is legislation, bipartisan legislation, that has advanced in washington that would expand the scope it. it would allow for it to weigh in on cases not only where it the majority of the investment in the u.s. business comes from a foreign nation, but also if the minority of a foreign investment is from a foreign nation with regards to companies here in the unit states. steven mnuchin poised to get a lot more power and a lot more clout on 50 -- on the committee. a vote.d on it passed the senate quite some time ago. now it will be conferenced and make its way to the presidency desk. what did they are hoping for on president trump's behalf is before the midterm elections of the for the august recess, what this does not do i the international emergency economic powers act. that was the more sev

treasury secretary steven mnuchin telma rrhea bartiromo today that the article was quote exaggerated. although they're pushing back on the story the president says the u.s. will not be taken advantage of when it comes to trade. >> trade has been a disaster. we were being taken advantage of as a country by many, many countries with, friends and enemies and those in between. and sometimes our friends, in terms of trade, were treating us worse than the enemies. and i want to just tell you that's being taken care of very well and very beautifully. charles: so regardless of the white house's official position, many people believe it is time for us to walk away from the wto. in fact from many of the global institutions like the u.n. and nato. here to discuss, adrianna cohen and david macintosh, need ryan is with us, former president bush 43 presidential writer, a contributor to the hill as well. i hope things are well with your and your family. >> thank you, great to be here. charles: i want to ask you about this. there was a whole brouhaha when word came out this morning that the white hou

commerce is now studying outbound transactions steven mnuchin says china will not be singled out. >> we're going to treat china the way we're going to tre other people and to the extent that we were worried about transactions, we will block them but we are not goi to on a wholesale basis discriminate against china as part of a negotiation. >> reporter: it's a hard right turn from the white house's recent approach t china announcing tariffs on up to $450 billion in goods jt two weeks ago as trade tensions heated up. the president's economic adviser larry kudlow told reporters today there is communication detween the two countries and today's move sho solve the problem. for "nightly business report," i'm kayla tausche inwashington. >>> so what exactly is the existing review process that tes ent plans to use when making some key trade related decisions? >> reporter: iestors who are worried about a trade war got good news today. the white housennncing it will use its current tools with enhancements that have bipartisan support in congress to restrict chinese investments hat they think th

and use the executive branch of the us government but instead we can see this as a victory for steven mnuchinted 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 foreign government wanting to acquire a us company. a 25% stake in acquire a us company. a 25% stake in aus acquire a us company. a 25% stake in a us company. it is about reviewing ona a us company. it is about reviewing on a case—by—case basis rather than wholesale blanket blocking. it is much more flexible and targeted and hopefully much more transparent. it is not even just targeted at china but any acquisition. so is it clever on the part of president trump in the sense that he has got the bluster and threats out there and in terms of how it is being covered it looks like he is being a strong person putting america first and gradually drawing back? person putting america first and gradually drawing back7m person putting america first and gradually drawing back? it is interesting from a negotiating perspective. he will be impo

that i was on the campaign with, whether it was steven miller or hope hicks, corey lewandowsky, steven mnuchin. these people became friends. you have to remember back then we were outspent probably 2-1. we were outmanned 1.5-1. we were in a foxhole together. a lot of us became very close. >> can i ask you quickly about hope hicks. is there a reason why after her departure in march, her position hasn't been filled? do you think it will be filled and, if so, by whom? >> it will be up to the president. he has talked to a few people about the position. it's a unique position in that white house because the president himself is a very good communicator. he has a certain communications style. it is unorthodox relative to other presidents, frankly, and other washington people. so it's going to be very hard for a washington operative to take that role. and so i think he'll find somebody that matches his personality and hopefully can get along with john kelly. and if that happens, they'll name somebody. but for right now, though, i think the communication is going pretty well. they have dialed back som

steven mnuchin calling it an exaggeration and the wto says it has not heard from the u.s. and will not speculate. what about whether the u.s. will or won't, is the market taking this seriously? >> obviously not today. this has been in the news since this morning. the president has talked about the wto and has said over and over that america is not treated fairly. he has used other words. it is not surprising. the question is whether he does it. there is another issue, he has alluded to the fact china came into the wto in 2001. they really were a developing market. they were an emerging market and did get some concessions in terms of what their commitment has to be. perhaps that has to be upgraded. back where we were a couple of years ago, what does that tell you? 's you could use jerome powell comments. whether it is a risk off market matures reproaching that down. sometimes it is rebalancing a part polio that you do get at the end of the quarter. he is coming up with a number of reasons. it does tell you the market believes the economy is not accelerating at the pace that

president trump is thinking about exiting the world trade organization but treasury secretary steven mnuchin is setting the record straight with our own maria bartiromo. christina is life at the white house to break down the back and forth. christina? >> there's always some back and forth going on. but you had axios put out the report saying that the united states is looking to leave the wto. the wto had 164 members. they talk about lowering trade barriers for countries. and then you had steve ma new chin on maria earlier this morning saying he dismissed the claims. listen in. >> this is an exaggeration. the president has been clear withous and with others, he has concerns about the wto, he thinks there's aspects of it that are not fair. he thinks that china and others have used it to their own advantage. but we are focused on free trade. that's what we're focused on, breaking down barriers. >> and then back on fox business news we had the editor in chief of axios respond to treasury secretary mnuchin notice how he said that the claims were exaggerated but not incorrect. since we're talking

the treasury secretary steven mnuchin this morning said there is no breaking news this report. the president has always said the wto has been fair to us, but there are things he wants to but he is issued a statement throughout the campaign but he doesn't like the wto so what is in this report this morning is not breaking news. he called it an exaggeration, obviously congress has to act if the implementing legislation would have to be undone. there is bipartisan consensus were in congress that they does it is needed. there is nothing that would suggest that any of this is imminent or the congress would actually sign up to do this. what do we expect from canada on its own tariffs on u.s. goods? on canada day, canada will -- impose retaliatory tariffs on aluminum, whiskey, many other products. tariffs that the u.s. put on canadian steel and aluminum. there are obviously political pressures to go forward with it. said the u.s. tariffs are insulting. that will be the response that will be put into place on sunday. >> the latest that is on nafta? now. is asleep right the mexican elec

treasury secretary steven mnuchin says the form will be the size of a postcard.ll simplify the process by making filing easier for taxpayers. >>> toy could be one of the busiest days in t.s.a. hireory. they'll scree than 28 million people for travel over the fourth of july travel period which starts today throug july 9th.h this comes at a time w travel is already at its peak. the number of passengers passing through t.a. screenings is u about 4 percent this year. >>> big pharma is revamping its marketing practices in the wake of public awareness of the opioid cris. a new report shows there was a 33 percent drop in pharmaceutical company payments to doctors related to opioids. >> 42,000 people died of opioid overdoses in 2016 and about 40 percent of those involved a prescription opioid. >>> there is a newaydu your doughnuts. starting july 2nd, dunkin donuts will beap having fries& rently. that's going t avaable at participaotinge locations across thent cou tryhe. doughnut fries a really just mini churros. fried c rolled in sugar. whatgh's not to like. an order of

steven mnuchin has denied china is the main target of plans to laws to ncy low -- rotect industries. to any country that tries to steal u.s. technology. some chinese officials and academics have begun to credit whether their economy can withstand a showdown with the u.s. carefully worded essays irculated on china's internet. malaysia's embattled state investment fund has named a new hairman. e will oversee government vem. he financial statement through 2010-2012 can't be relied on. global nudes 24 hours a day, on air and on twitter, 2700 journalists and analysts in 120 countries, i'm paul allen. this is bloomberg. haidi: thank you very much for that. it is not looking great out there if you're a bull. let's take a look at how we're fairing in the asian market with sophie. sophie: investors are going for duck and cover. stocks are set for the lowest several since october. the nikkei headed for a third day of losses. weighing the are most and the bottom doesn't yet seem to be in sight. as the chinese comp heads toward a bear market. the worst is yet to come with a 10% drop likely from

plus a big interview with steven mnuchin. of minutes to talk about it the final hour of "squawk box" begins right now >>> live from me most powerful city in the world, new york, this is skb. -- this is "squawk box. >> good morning and welcome back to "squawk box" here on bc we are live from the nasdaq market site in times square. i'm michelle caruso-cabrera along with andrew ross sorkin and mike antoli. joe and becky are off today. the futures are now in positive te they have been in negative territory all morning at least the for the dow. now all in positive territory rebounding based on the news that kayla tausche is going to tell us now on the "squawk" news line >> i just got out of a meeting with the treasury secretary who will join you momentarily. but he said the administration's decision is to pursue stronger control of chinese investments through the cfius legislation versus a broader set of investment restriction he cited the strength of the legislation be quickness with which he expects congress to pass that legisla

-- treasury secretary steven mnuchin made a statement that there is time to fix the two programs soy have to travel with a support animal. they need to submit veterinarians forms. passengers will be held liable if the animal hurts someone or damages anything. >>> and the international house of pain cakes, better known as ihop is changes the name to ihob. yes, ihob. won't safe what the b stands for until monday. that set off a twitter storm. the restaurant post add poll with four possibilities, biscayne bay, bacon, butter nut squash and barnacle. but there are many other possibilities, it says. does make a lot of sense because international house of pancakes, they have an extensive menu and makes sense they want to be moan more. >> i thought internationa house of breakfast but that may cut out your lunch and dinner. >> every i'm i ahead there, i would eat pancakes. >> in my house, you eat breakfast any time of the day. >> really? yes. >>> let's go to sal with a look at that commute. >> i'm with you, gasia. i thought breakfast immediately but we'll see. you might want to grab that bre

a little breaking news -- treasury secretary steven mnuchin has tweeted a couple stories on "the investments in bloomberg and wall street journal are fake news. statement will be out not specific to china on companies trying to still technology." tweet from the secretary. indices are down 1.1%. this is bloomberg. ♪ david: vonnie: from bloomberg headquarters, i'm caroline hyde. vonnie: this is the european close at bloomberg markets. is the top stories we are covering. stocks falls weston steps of its grade dispute with china with a chance to block chinese investment in u.s. industries. how will he navigate a series of economic challenges. brexit, the big short. we have the story of how hedge funders cashed in on the vote to leave the eu. let's have a look at where european equities are trading right now. we have a rate of red on the xt indices are it we're hav

. >> today treasury secretary steven mnuchin talked to reporters at the white house about new international trade investment controls being considered by the trump administration. he also talked about the economic growth numbers in the coming weeks. >> we're going to take a few questions. >> good morning, mr. secretary. >> how are you? >> hi. how are you? >> can you lay out for us why the decision was eventually made not to specifically tailor towards china and rather broaden this out through the general process? >> so i would just say we've had a very careful process starting with the ambassador and looking at critical technologies and looking at the issues at 301. simultaneously, we've been working with congress for a very long period of time on this legislation. i think as you know, i chair the committee on foreign investigationment in the united states -- foreign investment in the united states. we think it give us the tools to protect many different things, but we have been working with congress to expand those tools. yesterday the house passed the legislation 400-2 if that's not overw

steven mnuchin will be here. and larry kudlow.long with the advisor and daughter to the president, ivanka trump is here. along with the office of

treasury secretary steven mnuchin has a quiet way of showing his unhappiness with his boss.rned he is maintaining a deliberate silence to display his dissatisfaction with president trump's aggressive trade war against china. last month, he launched a battle over the china tariffs. jerome powell is repeating the case he laid out for raising interest rates, telling the ecb form i portugal that there is broad support among fed officials for tightening. andited low employment balance risk. hit dozensn track to of u.k.-based company's with a prey brexit tax bombshell. they could lead to bills totaling more than $1.3 billion. the eu it is investing a constable tax break for multinationals based in the u.k., four dozen businesses have warned they could face big tax bills. global news 24 hours a day, on air and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. mark: coming up, battle of the charts. the crude reality is that the fed cannot ignore oil. we will explain next. this is bloomberg.

chinese economic advisor here and the talks for a potential trade deal sort of fell apart after steven mnuchin said the trade war is on hold. then the tariffs were set to move forward. now they are trying to up the ante and the next highest level of person that could come to washington would be the vice president. they were trying to see how could you get him here. how could you get this man to meet with president trump. in maybe figure out a solution that does not lead to tariffs. president is intent on imposing the tariffs because no one has done this before. he is intent on doing a lot of things that no one has done before. maybe while he is not looking to have tariffs in place for a long time, he definitely wants to impose them. we are looking at that timeline, we are looking at investment restrictions imposed next friday. that is coming out of the treasury department. we're definitely going to see first shots fired in what is a trade war or could be a trade war. make of theou comments coming from business leaders in china? we heard foxconn saying this is a tech war. this is a company that

steven mnuchin will be here. and larry kudlow.

steven mnuchin, steve, wherever yo working hardn those taxes. >> thece that we missed, he's sitting there and he was thanking fema and thanking himself wife, the first lady for the job that she's done. let's remember that she went to florida and texas and puerto rico with her husband in the wake of those hurricanes last fall and so we just want to keep an eye this. and j the question that i know a lot of puerto ricans, so many of whom have fled to places like orlando because of the dire situation in puerto rico and so a lot of people wanting the president to address the death toll that's come out from this harvard study. i've got something new here, new approval ratings for melania trump, the latest quinnipiac poll, 49%. that is higher than her husband, the vice president sitting there, sarah sanders and the lawyer rudy giuliani. final note on -- you said it, people are fascinated by melania trump. >> and not thest lady who has been -- >> eclipsed. >> yeah, or this has been kind of the zeitgeist around her. you go back to jackie o. or jackie kennedy y but i think this is important to say