u.s. chamber of commerce america's top business lobby as meanwhile said it is considering legal action to stop the move. and let's take a closer look at this with our financial correspondent yens quarter in new york. how are the markets responding to this news. well quite allergic hardly anybody here on wall street saw this coming and we saw a quite a sell of chips down by a good 350 points ending the week mostly on the lowest level on the day and just to put this into perspective we've traded lower for 6 consecutive weeks so that is actually the longest losing streak in about 8 years so certainly not a very good reception here on wall street so a punctuation mark on a bad month who is set to be hit the hardest were these tariffs to come into place . it's mostly common you're factors. suppliers to the car industry but then also we also see some trade for computer equipment for example from mexico to the u.s. but you could clearly see that common your factor is probably will be hit hardest and we also saw that here with stock prices general motors losing about 4 and a half percent just her

u.s. chamber of commerce. largestt that america'sy most important pro-business lobby is at odds with a pro-business president? at odds over things like tariffs. we believe in free trade and we believes tariffs should be used -- governments have the right to use them. they should not be used for other political issues. they should not be used with no notice and sporadically. tariffsn favor of using where trade is not balanced, like with china. china thinks they have a trump problem. china has an american of problem. when you talk to businesses around the country and armors, they understand china has not been playing by the same rules. china is hoping that when president trump acquiesces, they will be ok. they have an american problem. tok: it is ok to use tariffs punish china for abusing trade relationships and denying market access to u.s. companies? tom: those are the rules we are not used to playing by and those are the rules rest of the world does not play by, and they need to be not angry at our president, but self reflection on

u.s. chamber of commerce. the national association of manufacturers. the national retail federation. the fresh produce association of the americas.ist goes on and on. are these tariffs really going to solve the immigration crisis? because you're doing tariffs, immigration. is that apples and oranges? what's going to be the cost to our economy? >> it's going to be very painful to our economy. and we've already seen this, again, with the tariffs that have been implemented so far. we see that the incidence of those tariffs is on americans. there have been estimates for what the likely effect would be for the tariff of -- let's say we ratchet up to 20%. trump has said it could go up to as high as 25%. there was an estimate that was put out a couple of years ago by a research and consulting firm that specializes in trade that found there would be hundreds of thousands of jobs lost, tens of billions of dollars of economic growth lost as a result. most of the jobs lost, by the way, would be low and middle skilled workers. this would be quite painful to the united states. and again, i don't see how this is going to achieve any of the obj

u.s. chamber of commerce who are saying this is a terribly bad idea particularly when the white house is pushing to get a new trade agreement in north america push through which involves both mexico and canada and saw people like the u.s. chamber of commerce are saying look we're even going to look at the possibility of legal action to block this the other thing to point out and a point there so almost every time we talk about donald trump and tired of donald trump doesn't understand what this isn't mexico that's going to be paying the united states the costs will be borne by u.s. companies who are bringing stuff in across the border and they do so every day from fruit to parts for cars and that ultimately will mean the u.s. consumer is paying for that as well now there is a delegation on its way to washington they believe that donald trump can be talked down over this but certainly in everything he said on twitter in the last few hours he seems determined to push through with starting with tariffs of 5 percent and pushing them through to 20 percent just one other point to make the mexico says look when it comes to stopping people coming ac

u.s. chamber of of commerce and manufacturers, innational retail federation, fresh produce association of the americastariffs really going to sthauvl immigration crisis because you're doing tariffs on immigration. is that apples and oranges? what's the cost to our economy? >> painful to our economy. and we've we've already seen this. the incidents of the tariffs is on americans. there have been estimates for what the likely effects would be for a tariff. let's say we ratchet up to 20%. trump said it could go up to as high as 25%. there was an estimate years ago that found there would be hundreds of thousands of jobs lost. 10s of billions of dollars of economic growth lost. this would be quite pain nool united states. >> we don't know how mexico's going to react and maybe they do. >> our time is short. i'm sorry. >> on getting tougher on immigration in their own country. >> on turning away asylum seekers. woow! yeahhh! there we go! this memorial day, start your summer off right in a new chevrolet. oh, wow!! it's time to upgrade. you guys out did yourselves there. i'm gonna go and get a chevy. an exciti

u.s. chamber of commerce -- congress, this is an ad they ran against you, alex watch this. >> in america,t doesn't set government prices or block to life-saving drugs because a bureaucrat decides it's not worth the price. but that is exactly what happens in many foreign countries and the department of health and human services want to impose the failed foreign price on medicare.hese >> laura: it is slick, a movie trailer of the secretary. the villain. i like the ones that show your face and make you look really m scary and you're not really that scary. >> alex: you know what socialism is? asking american seniors to pay list price for drugs to prop up the social systems in europe. that is what's going on, and president trump and i will break it. >> laura: they have a lot of cheap drugs in europe. they are subsidizing it. it has to be a little bit more level. great to see you, secretary azar. and up next, the biggest state in the country says hyper masculinity will kill the g.o.p. a psychiatrist to tell us how to diagnose that one. don't go away. . . a psychiatrist to tell us how to when we

there is crime in america but people don't imagine what it is to come and flee from natural disasters. i want to raise up the u.s. chamber of commerce. i arg few if we have passed reform 10, 15 years ago this would not be an issue and we have built barriers more than a decade i remember giving huge sums of money and i hope my colleagues will understand this nation was built with this sweat and love of immigrants. everyone of americans can point to, except native americans can point to coming from somewhere else no matter what condition they were in when they came. i ask colleagues to support this legislation, hr 6 because it the american thing to do. with that, i yield back. >> thank you madam speaker. i yield two minutes to my good friend from arizona. >> i rise today as a grand child of legal immigrants to this country democratic leadership is choosing to bring amnesty or millions to a vote by choosing to ignore laws democrats are inviting mass migration of illegal immigrants across our border states. if enacted it would do nothing to enforce laws but reward law breakers. this actually grants gang member was green cards and a path

america's second largest trading partner. among the top imports from mexico, vehicles, machinery, fuel, medical equipment as well as fruit, vegetables and alcoholic beverages. the u.s. chamber of commerce and national retail federation both warn tariffs would raise the cost of living for american families fear that corporate profits will take a hit pushed the stock market lower today but presidential adviser that var ro said it's not americans to pay the prices. >> no. >> importers pay for it. >> no. the governments of china and mexico will pay for it and the producers in mexico and china pay for this. >> reporter: most say that's not the case. companies will cover the tariffs raising prices meaning every day americans will pay the price. kate >> tom costello, thank you. >>> tonight, a last-minute victim for the only abortion clinic left in the state of missouri. but planned parenthood is still fighting to renew the license to continue performing the procedure at that st. louis clinic we get late details from nbc's ann thompson. >> reporter: a temporary reprieve for missouri's only abortion clinic. >> we live to fight another day. >> reporter: just hours before the license was to expir

america would like from the upcoming u.s.-japan trade talks. we will speak to the american chamber of commerce in japan, next. bloomberg. ♪ ♪ paul: this is "daybreak asia." i am paul allen in sydney. shery: i am shery ahn in new york. the operator of japan's most popular messaging platform has been investing heavily in financial services in the face of the stagnating user base. it expects its simtech business to break even in one year to two years. the co-ceo spoke exclusively to bloomberg in tokyo about when they should become operational. to acquireto prepare the license and -- but i think it takes -- it does not take so much time. so we are expecting maybe the next year we can launch the service. >> 2020? how important is it to break the dominance of your main revenue stream, and that is advertising? it open in our company has to year. half the year. you're out of period of investment for the next three years to four years? potentially into 2023, you are not looking at profitability? shin: it depends on how fast we security users. if we -- in this domain, as we expect it, we can become profitable in one ye