u.s. households about $800.00 a year the real problem would start if their trade dispute escalates if u.s. president donald trump would impose tariffs on more imports in the amount of a good $320000000000.00 that could actually shave off about an additional one percent of growth here in the united states so the big hope right now is not that we reach a deal soon but that the trade dispute does not even escalate further right there for us in new york thank you yes and the u.s. is also continuing trade talks with the european union where economic signs are pointing back up after a brief slowdown there earlier asked paul thompson of the international monetary fund how trade tensions could hit european capitals and what makes him so sure that european economies such as germany's are in fact improving i do she think that we are. seeing it all at a turnaround i do think that we in germany and in the euro area are more broadly will see a steady recovery in 20192020 with a growth of reaching. potential around $1.00 by next year they're looking at the numbers. and. it's. what what was going on i th

u.s. household $831 per year. meanwhile, one group hit particularly hard by the tariffs -- farmers. president trump rolled out a $16 billion aid package for farmers. the first of three will be made later year according to agriculture secretary sonny perdue. the fda wants to standardize use dates. they are asking them to use best if used by. about 20% of consumer is caused by confusion over expiration dates. for more head to cbsmoneywatch.com. at the new york stock, change, i'm diane king hall. >>> history is made at san jose. their labor of love coming up. >> let's take a live look outside. you can see a little bit of the bay bridge on this friday morning. to simone, i leave the van gogh. to harrison, the wine collection. to craig, this rock. the redwoods to the redheads. the rainbows to the proud. i leave these things to my heirs, all 39 million of you, on one condition. that you do everything in your power to preserve and protect them. with love, california. history from cape fla. it's carrying 60 satellites. it will help with broad band around the world. >>> students at san jose

u.s. household $831 per year. >>> meanwhile, president trump has unveiled a $16 billion aid package for farmers. he claims china will pay for it but economists say taxpayers will foot the bill. >>> a rare display of bipartisanship. the $19 billion will help americans struggling from recent hurricane, floods and wildfires. the measure passed after republicans agreed to drop a request from the president toer. president trump is expected to sign it. >>> well, time now for a look at your weather for this friday morning. >>> good friday morning. severe storms a threat across portions of the southern plains northward through missouri and into norther damaging wind gusts and even a few isolated tornadoes. we get into the southeast very quiet but very hot. talking near record high temperatures for many here and it's going to last all the way through the holiday weekend. into the northeast a quiet forecast for us as well. dry, comfortable, but we'll need to watch out for breezy winds. i'm accuweather meteorologist adam del rosso. >>> coming up, a big change when it comes to how movies are reviewed. >>>

u.s. households a session where democrats may try for a third time to pass a disaster rizzi -- relief billa look at standards and oversight for artificial intelligence. at noon, a foreign on athletes and i is is him hosted by the athletic. a look at state budget priorities and tax revenue on c-span3. deputy, the acting secretary of defense talks about the pentagon's current budget request. >> saturday on american history , revisiting the roots and evolution of african-american storytelling at colonial williamsburg. >> i went up to his room after they had done all of this parading. said, you put on 18th-century clothing, it makes you feel important. it inspires you. it makes you think that the 18th-century was what it means to be an american. eyewear, i the close feel like a slave. >> we continue our coverage of the 75th anniversary of d-day. at 6:00 on american artifacts with historian and reenactor jerrod frederick you >> they had landed a half-mile off course. there was a little bit of uncertainty, perhaps hesitation as to what exactly they should do. commanderant division , theodore roo

u.s. household 5 to 8 hundred dollars. >> not everyone agrees citing the trade markets. >> trading at theirest in many months. how concerned are investors? >> they are runing to safety. the dow is on the longest losing streak. it could mean 900 billion dollars could be tariffed if there is no deal. the prospect has the financial world on edge. >> bret: susan, thank you. overseas, february summit with president trump may have led to the execution of north korea's nuclear negotiator. there is word kim jong-un purged top officials over the outcome of those talks. benjam benjamin hall looks into this. >> according to south korea media. they were executed by firing squad including the translator. the u.s. is trying to check this out. the purge went further, two were sent to a labor camp. it doesn't bode well for future talks. >> this is a fatal set back for the negotiations. >> and steven meets with counter parts in south korea and japan to coordinate their response to provocations from the north. and the defense secretary weighed in. >> there are things we have to work on as it relates to north

u.s. household annually will pay about $231 more as a result of this latest round of tariffs. >> thanks, hillary. a fox urgent now. officials in france say at least seven people are hurt after an explosion on a busy street. it happened in that country's third largest city, leone. video shows glass on the ground outside a store. there's word a small package blew up. we cannot confirm that. officials say people had injuries to their legs, but they were not life threatening. the french president during an interview called it an attack. but no word on whether this was terror on something else altogether. updates as we get them. breaking in the last hour, word that president trump is going around congress to sell weapons to the saudis. we'll tell you what we learned about that. also, a lot of groups ask for donations to support their activities including apparently some terrorists. new intel that shows some militants are now running out of money. coming up. serta's memorial day mattress hot buy for just $498 get a serta pillowtop queen mattress and free boxspring that's premium serta comfort without

u.s. households and corporates who depend on borrowing at cheap rates.r note say that, look, cfos are going to start to really have to readjust expectations. this could be an earnings story, depending how long the trade fight continues and investors seem to be losing pair ebbs. patience. thank you for being here as always. great to have you. >> thank you. lauren: joe biden takes back the lead in a new national poll for the 2020 democratic nomination, this as senator bernie sanders and alexandria ocasio-cortez slam his record on climate change. cheryl: we've got griff jenkins live in washington with the division over the green new deal. griff, good morning. >> reporter: good morning, cheryl and lauren. 2020, it's already heating up. in a new poll, joe biden taking a commanding 8 point lead over previous front runner bernie sanders, putting biden at 35%. mayor pete buttigieg is at 8%. before biden got into the race, sanders led 29% to 24%, making this a 13 point swing favoring the former veep. he wa.he beat out 14 other cands in the remaining field. sander

u.s. households more than $106 billion or an extra $831 a year.survey found that many adults would struggle to cover an unexpected expense. the fed said four in 10 americans would not be able to pay for an unexpected $400 expense with cash, savings or credit card that could be paid off quickly. about 27% would need to borrow or sell something to pay for it. >>> and global theme park attendance is on the rise, according to themed entertainment association. attendance at the world's 10 largest amusement parks rose 4% last year, passing the half a billion visitors mark for the first time of that water park attendance, increased 2 1/2%. disney led the pack but seafood saw a resurgence in interest. and that's your cbs money watch report. for more head to cbs moneywatch.com. at the new york stock exchange i'm diane king hall. >>> three new movies opened in theaters this holiday weekend. here are the ones that took top spots at the box office. "avengers: endgame" reached a major box office milestone. the marvel movie dropped from second to third place wi

u.s. households a session where democrats may try to pass a disaster relief bill. a look at standards and oversight for overs -- artificial intelligence. a forum on athletes and athleticism. a look at state budget priorities and tax revenue. secretary ofputy defense talks about the $750 billion budget request. have been called the biggest little city on the map. muchts size, there was so excitement and culture and action happening in reno it was the biggest little city around. >> there are not many cities in north america that have what reno has. this vastthe edge of wilderness. i think of the environment as being a crucial determinant of what the life is like here. >> the cities tour is on the road, exploring the american city -- story. >> 100 years ago, it was known as a place to get a divorce. and then it became known as a place to gamble. for the been drawing up last 25 years. but we still have this reputation. having tesla come to town and build a sickly the world's largest factory, that changes the narrative. -- story is not at the nine a dying casino town bu

u.s. household. not part of a nielsen household number they have an easy scapegoat and can say, look, it was in toronto. >> only half of the households counted. >> still will be millions of people in new york and b new jersey. >> the fan base of the two teams. >> of those two teams. >> the first time that lebron is not in the sniems. >> he made the last eight. we knew that a month ago >> i thought he would pop up elsewhere, maybe an announcer. >> the reason i brought that up. that was 2011. the last time -- that is when the lakers were the two-time defending world champion we still had a basketball team. >> lakers fan from the past. that's not happening. >> we should mention we have a lebron expert onset with us. >> it's funny. i feel like i don't remember a time when lebron wasn't in my life i grew up in ohio. >> in your life? >> in ohio. >> where are you going with this >> i grew up in ohio my brother is lebron's age my brother played basketball from the time my brother was very young, i was very y

u.s. households more than $106 billion or an extra $831 a year.eserve survey found many adults would struggle to cover an unexpected expense. the fed says four in 10 americans would not be able to pay for an unexpected $400 expense with cash, savings or credit card that could be paid off quickly. about 27% would need to borrow or sell something to pay for it. >>> and global theme park attendance is on the rise, according to themed entertainment association. attendance at the world's 10 largest amusement parks rose 4% last year, passing the half a billion visitors mark for the first time of that water park attendance increased 2 1/2%. disney led the pack, but sea world saw a resurgence in interest. and that's your cbs money watch report. for more, head to cbs moneywatch.com, at the new york stock exchange i'm diane king hall. >>> as you take a live look at oracle arena this morning where the warriors are preparing to host a watch party for game one of the nba finals this week. the dove beginning the finals on the road for game one. golden state is

u.s. households a session where democrats may try for a third time to pass a disaster relief bill.at 9:30 look at standards and oversight for artificial intelligence. at noon a forum on athletes and activism hosted by the atlantic. on c-span3 at noon, look at state budget priorities. secretary ofacting defense talks about the pentagon's budget request. special counsel robert mueller made his first public statement on the investigation into russian interference in the 2016 presidential campaign. he spoke for 10 minutes at the justice department and did not take questions. mueller: good morning, everyone. thank you for being here. two years ago, the acting

u.s. households, especially west of the hudson river, the vehicle linking home and school and work is the automobile. the car is most commonly held non-financial asset in the united states. it's the most durable good that consumers purchase after a home. by law, in almost each state, every car must be insured. in the world of financial services, they are the most advantaged class. that should logically be reserved for the auto insurance industry. an industry that enjoys protected status within the american economy. it offers mandatory goods and service that people are required by law to purchase. it is provided exclusively by the private sector on a for-profit basis. such public/private collusion has resulted in skyrocketing premiums for insured motorists by the mid '80s. urban drivers pay as much as $900 more than suburban ones for auto insurance each year. while $900 a year may not seem like very much, it's more than many of the major tax cuts that's been passed by the last few administrations. extrapolated over 50 years, the lifespan of the typical driver, we are talking about almost $

u.s. businesses and households and warned the consequences could worsen if a deal is not reached. white house economic adviser larry kudlow admitted unday the administration's approach hurts the u.s. >> but it is u.s. businesses and u.s. consumers who pay, correct? er yes, to some extent. again, both sides will suffer on ilis. >> reporter: among those suffering, minnesota soybean farmer brad hovel. >> it's getting really tough. >> reporter: hovel says china's demand for minnesota's soybean crop has dropped significantly since the trade war began. today soybean prices hit a ten- year low. >> it is a shame they put the retaliatory tariffs on us. >> reporter: president trump says he will meet with china's president xi jinping at the g-20 ummit, but that's seven weeks away. and so far that far-off prospect ars not been enough to reassure nervous investors. john? or dickerson: all right. paula reid at the white house for us. thanks, paula. let's bring in now cbs news business analyst jill schlesinger. jill, let's start with the stock market. what companies were hit the hardest? >> you

u.s. businesses and households and warned the consequences could worsen if a deal is not reached. conomic adviser larry kudlow admitted sunday the administration's approach hurts the u.s. >> but it's u.s. businesses and u.s. consumers who pay, correct? >> yes, to some extent. again, both sides -- both sides will suffer on this. >> reporter: among those suffering, minnesota soybean farmer brad hovel. >> it's getting really tough. >> reporter: hovel says china's demand for minnesota's soybean crop has dropped significantly since the trade war began. today soybean prices reached a ten-year low. >> it is a shame they put them retaliatory tariffs on us. >> reporter: president trump says he will meet with china's president xi jinping at the g20 summit. so far that far-off prospect has not been enough to reassure nervous investors. >> so what comes next in president trump's trade war with china? jill schlesinger discussed it all with john dickerson. >> jill, let's start with the stock market, which companies were hit the biggest. >> intel, apple and caterpillar together. the three of them

u.s. households would pay $831 a year more for goods and services because of the tariffs. >> the -- as davidd, the chinese nationalistic tone, which has been building throughout the week, where does that take us >> we hit a brick wall in terms of the trade negotiations. the trump administration is demanding structural reforms from the chinese government that really hit against the governing philosophy which is intellectual property, acquisition through all means, fair and foul, technology transfer, boosting national champions, particularly state owned enterprises. i don't see president xi backing down on these issues anytime soon. >> are the chinese able to go forward with the next act, something wall street worries about boycotts of american products and source products overseas are they able to take this to the next level and really implement some sort of economic policy around it >> they are going to be far more targeted than the trump administration they don't want to see tariffs across the board because they recognize that it is going to hurt their own economy but they're making a polit

u.s. households are members of credit unions. in 2018, the credit union system well.ued to perform the years and, credit union membership grew to more than 116 million members and assets increased to $1.45 trillion. it is a system well-capitalized with a ratio of 11.3%, well above the 7% statutory requirement. , soinsurance fund is strong strong in fact of your it would issue nearly $900 million in share insurance fund dividends over the last two years. credit unions are using these funds to improve the financial capability of people of modest means, support small businesses and strengthen communities across the country. my priority is to strengthen the vitality of the credit union industry by doing more to bolster underserved communities including those in rural areas, persons with disabilities and moderate income households. to that end, i am working closely with agencies'senior leadership especially the office of minority women and inclusion, and credit union resources and isansion to ensure that ncua doing everything we can t

u.s. households are members of credit unions. in 2018, the system continued to perform well and by years end credit membership grew to more than 116 million members and assets increased to 1.4 $5 trillion, the system was capitalized with an aggregate net worth ratio of 11.3%, well above the 7% statutory requirement. the insurance fund is strong, so strong that we've been able to issue nearly $900 million in share insurance fund dividends over the last two years. they're using the sense improve the financial capability of people with modest needs, support small businesses and strengthen communities across the country. my priority is to strengthen the vitality of the credit industry by doing even more to bolster underserved communities including those in rural areas, persons with disabilities and moderate income households, to that end i'm working closely with senior leadership especially the office of minority women inclusion and credit resources and expansion to ensure we are doing everything we can to assist small and low income

u.s. households are members of credit unions. in 2018 the credit union system continued to perform well. by year's end credit union membership grew to more than 116 million members. 1.45 trillion dollars. the credit union system was well capitalized with a ratio of 11.3%. well above the 7% statutory requirement. the share insurance fund is strong. so strong, in fact, that we have been able to issue nearly 900 million dollars in share insurance fund dividends over the last two years. and capability of people of modest means and strengthen communities across the country. my priority is to strengthen the value of the credit union industry to bolster more in the underserved communities. in rural areas, persons with disabilities and low to moderate income households. to that end, i am working closely with the agency senior leadership, especially the offices of minority women inclusion and credit resources and expansion, to ensure that ncua is doing everything we can to assist small and low income designated credit unions, including encouraging the denove denovo depository institutions. naviga

decades ago, but these types of unintentional shootings remain all too common in the n u.s. 4.6 millds live in householdsaccess to loaded guns. three out of four know where the firearms are kept. here is his story. >>he last image i have is sister dyingn my lap. i shot her. it is definite an image i will never get out of my head even 30 years later. i still remembert l like it was yesterday. >> june 5, 1989. choking.ter is >> she is choking? >> she is dead. >> she's dead? >> yes, please get my mom and dad. oh, my god! the night before the accident, there was a robbery in the area. my dad h got the gun out and loaded it. >> it was my father-in-law's, mother-in-law's gun. they gave it to my husband to get rid of. the dogs were going crazy. >> after talking to police officers in the area -- >> he put the gun in the door and went back to bed. >> the next day got home. >> always came home five minutes before me. >>as iooking for my video games. >> for whatever reason he looked at our drawer. >> instead of the video games, i found my dad's gun. lded out, and figured like any other toy gun, i would play with it

about 6.5% of households in the u.s. are unbanked according to the fdic philadelphia is not alone. new jersey has also passed a cashless ban new york city and washington, d.c. are considering similar laws even in the heart of silicon valley, france lawmakers are proposing an even stricter cashless ban that would include amazon go stores here at philadelphia's redding terminal market consumers and merchants have strong feelings about this new law >> i feel like the cashless stores are exclusionary and philadelphia has a pretty high poverty rate so i think it's good for philadelphia in particular so that everybody has an option to shop where they want. >> that's a business decision. as more and more regulations are put on the small business owner, it's harder and harder to operate in the city. >> they don't like running business in philadelphia, move somewhere else. >> reporter: the councilman says he doesn't believe this law will discourage big business from coming to philly. >> i really don't want to make it sound like it's anti-business. just a pro-person, pro-consumer. >> reporte

u.s. average household has been big buyers. how much more can they absorb? with all of this debt we have to finance, maybe yields do start turning around if things don't start looking better. alix: it doesn't matter until it matters. david: jamie dimon called it. alix: yes. peggy collins and mike mckee, thank you very much. you can find all of the charts that were used just now and throughout the next two hours. -- go to gt vigo on your terminal. this is bloomberg. ♪ kailey: this is "bloomberg daybreak." hughesk cofounder chris says it is time to break up the company. he writes he is angry that ceo mark zuckerberg's focus on growth has led him to sacrifice security and stability for cliques, saying zuckerberg's power is unprecedented and un-american and is not enough enough- and it is not for the government to impose a fine on facebook. chevron has until tomorrow to come up with a new bid for anadarko. their last offer was for $33 million. artists ---- of novartis will pay as much as $1.9 billion if it reaches certain milestones to acquire to keita. to

u.s. firms, and households that are paying. >> dana: they are paying this so far. you worked in the treasury department. you've been on both sides looking at this. you understand where the chinese are coming from. the president is also trying to make a case that we have to stand firm now because people in the past have not stood firm against china, previous administrations. it is now the time to press the advantage? >> well, i think the president has succeeded in taking beijing's notice, and catching them off guard. i think by all accounts, this comes fairly close to a deal. the question is, does additional pressure at this point in time get to a deal, or does it back beijing into a corner? >> dana: there is politics and china as well. >> that's right. china doesn't have elections but they have demented politics. with this escalation, it will be more difficult for beijing. we are in a quite sensitive window. >> dana: tell me more. i am from farm country. i'm interested in this. it's such a big market. the trade fight between china and the u.s. hitting farmers. chin

u.s. consumers paid nearly $69 billion due to the tariffs in place. the recent increases could tack on another 500-$1000 for each household this year. u.s.overed nearly 600,000 items, we are talking a wide range of building materials, lighting fixtures, some computers. not smart phones yet, handbags, backpacks, vegans, take note, kale, carrots, and beets. >> that smoothie might cost you more. >> what about the chinese tariffs. who was targeted and affected? >> china will impose a 25% duty on frozen fruits and vegetables and seasonings there's a 20% hike on condiments, chemicals and vodka. the real worry here is the u.s. farming community. u.s. farmers income dropped by 16% last year. the government has put aside $12 million to help subsidize the losses. farmers are worried they are losing a long-term customer base on a rapidly growing chinese market. for more, you can check out my eight questions and answers about the stalled u.s. china trade talks. >> joe, thank you. >> joe, thank >>> roommates without a lot of room, the tight new housing trend that some californians are trying out. >>> if you have a commute that includes the bay bridge

so the individual, and accredited investor of which there are 14 million households in the u.s.lone and now they get a chance to participate. .mily: you are based in israel can anyone participate? if you are an american, you can do that. we have investors from 182 countries. each country sets regulations that we work with qualified investors. we are not fully retail. emily: how do you get into an in demand private company? >> isn't that funny? it turns out you have to add value today. the best companies can get money from all over but they choose investors that can actually help them. a group like our crowd that represents 30,000 accredited investors all over can help like mad. we get them connections to customers, to hires, to potential media coverage and they want our crowd involvement and that is why they are coming twice. emily: you have done a lot of deals. the last couple of weeks, we announced a deals together with softbank. $300rticipated in a million round with lemonade which is the cool company. we participated in a round with the chinese unicorn and the travel space.

. >> actually, move from households in the u.s. to corporations.s for example, china is corporations and government entities but across the world, we build it up. now, when growth slows, there will be a price to pay. is that price going to be as much as we paid the last time? probably not. but, you know, the jury is out. it not in the same place so we won't have a banking crisis, banks are much better today than before but could be elsewhere. >> your book, which i find fascinating, you talk about a hidden dimension, forgotten dimension. you talk about the market and the state. and you say the market has been allowed to do a lot of work. the state has been allowed to do a lot of work in society but one thing got left behind, what is it? >> it that's what i talk about in my book. we had a tremendous technology revolution. markets have grown across the world. interestingly, the state has gone along with it. most think that governments and markets are opposed, no, they feed on each other. we have bigger and bigger government to govern the bigger and bi

the number of one-person households in the u.s. has increased from 7.7% in 1940 to 17% in 1970 to 28% in 2017. nearly half of the people in manhattan live alone. the decline in the number of people with -- discuss important matters. nearly one quarter of respondents reported not having a single person they could talk important matters. even enthusiasts for the problems offered with greater digital technology while -- worry about people connecting with people who share -- who already share their own views and prejudices, reinforcing them. what ethan zuckerman calls cyber balkanization. it militates against the bridging capital roger putnam view as important for revitalizing civic engagement and building levels of trust among americans from different backgrounds. that people in the u.s. still seek out opportunities to join together, whether in small groups, online communities or other venues, is suggestive of long-standing inclination among in -- americans to form long-standing association. so regardless of the social capital achieve

u.s. companies to get back into the business of making everything from computer parts to household goods andthe fact of the matter is the salaries that u.s. factory workers make is multiple times more than than that of what chinese factory workers make and so that is a factor that goes into the price of u.s. made goods and makes u.s. goods much more expensive so you're not going to see the return of factory return of manufacturing in the u.s. because just by the fact that u.s. workers make much more on an hourly basis than their counterparts in china the goods are going to be dat much more expensive from you know from the get go so what you see already happening are u.s. companies that had been using factories in china to make their goods in fact looking for other countries where the labor cost is just as low or perhaps a little more expensive but it's not they're not going to be subject to these tariffs and so they can still make these products sell these products to u.s. consumers who are expecting to pay a certain amount and not a penny more rather than bring the production. back to the u

u.s. median household $550 annually finally, this is far and away the largest revenue measure enacted that back to 1968 at all revenue measures 30 revenue measures only 11 of which have been tax hikes. almost all of them have been tax cuts looking back over that span of time. >> although earlier in pre-income tax days i would imagine tariffs were important part of the government revenue. >> they were substantial part of the government revenue before the income tax of course those would be enacted by congress. congress seeded a lot of its tariff authority through three or four different measures to the president. so he has this right to put these on, which means he can do substantial revenue measures outside of congress's authority. >> are you supposing that these tariffs are going to be around for a long time? >> we can't do it, ken it's really interesting because when you do a tax hike, joint tax committee gets in, they do dynamic scoring, up or down depending on the minute. we don't know what year two looks like year two you could have a situation, i'm just throwing this out, canada and

they may not be a household name in the u.s.second-largest theater chain by attendance and it is expanding in the u.s. >>> all right, robocalls are the number one complaint. the federal communications commission says they receive every year. but the war against those calls could soon be over. we have more now from new york. >> reporter: the battle to end robocalls is raging on. >> this is serious. >> i get the same phone call 11:00 at night every day. >> reporter: how do you feel about that? >> really annoying. >> reporter: there could be a light at the end of the tunnel. the fcc will vote in june on whether to allow phone companies to establish call blocking services as a default. >> some companies would be allowed to block calls for consumers, without consumers having to proactively sign up for that service. >> reporter: the proposal second option allows for greater customization. >> carriers could block any and all calls that come from people not on their own phones contact list. if a caller was not already on that list in ot

u.s. tariffs have fallen, quote, entirely on american businesses and especially households with a greater impact on consumer prices than even expected. there currentlyin no indications that u.s. and china trade representatives are set to meet in the future. let's bring in cnbc's brian sullivan. let's be really clear about what a tariff is and what it does and who is impacted by it, not quite the way the president explains it. >> it's paid for by u.s. importers. you're china, i'm the united states, you sell me a good, i pay for it at the port of entry and theoretically pass it along to consumers. u.s. consumers pay. larry kudlow sid that as much on an interview on sunday. right now it's mostly raw goods but this new round of tariffs could impact more of the stuff we buy directly at the store. if the third round kicks in, that's 25% on everything that we import from china that, is shoes, toys, household goods, that's the direct pass-on to the u.s. consumer. >> so, elise jordan, i'm trying to think of a way to phrase this but you just wonder is he deliberately trying to tank our economy? i me

u.s. gdp by 3.4% in 2020 and reduce job growth by 200,000. that would cost the average household $500. it is a non-negligible it to the u.s. economy and the rest of the world, which would also suffer is your .3% gdp loss. escalation in tensions that has significant risk, not just for the u.s., but the rest of the economy. shery: we are seeing the three-month part of the 10-year in birding. how significant is this? will the fed be watching? >> i think they'll be watching very attentively. luke was talking earlier about this escalation in tensions. markets tend to overreact in both directions. there was excessive optimism come in my opinion, in the lead up to the street discussions. everyone was thinking there would be a trade deal. i don't think that is the case yet. we may see further escalation. fed, all eyese will be on how the fed communicates its intentions. we know that around the turn of the year, the fed adopted a dovish pivot. the odds of a rate cut by the end of the year, if we continue to see these trade tensions, is increasing rapidly. amanda: peter, we know that tarif

u.s.. we are watching from household good makers, also 3% lower.omberg. ♪ ♪ you are watching "bloomberg markets." welcome back. let's get a quick check at the latest business flash headlines. warren buffett is ramping up criticisms of private equity firms, accusing some of being dishonest about the way they calculate their returns. he says some firms manipulate the way they present their treasury bills and investments in order to improve their apparent performance. he said if you are running a pension firm, he would "be very careful about what he was being offered." >> softbank is said to be weighing the idea of an ipo for its $100 billion vision fund. a handful of senior figures have discussed the idea. if it happens, it would give investors of the fund away to cash out their stakes and direct listing. softbank is said to be planning a second investment fund. >> standard chartered remains iraq,h on investment in and will soon be deciding deals for half $1 billion. it is financing deals with unnamed international companies financed by the end of th

u.s. businesses and households with no clear reduction in the chinese exports. have spilled over noticeably to the prices charged by u.s. producers competing with tariff-affected goods. now, they look at the impact of tariffs on cpi, and they say it is clearly visible when you look at equipment that is, what they're calling the nine tariff-impacted categories they would include appliances, furniture, bedding, floor coverings, autopart materials, et cetera. do you think goldman sachs is 100% wrong here? >> i do. i read that article. i don't see it happening there's been some temporary blips in pricing, and then it gets pressed right back out as the consumer substitutes and as the product moves -- >> what about in washing machines that seems like the one area where pricing went up not only for the guys who were importing stuff but other people were able to maybe squeeze prices a little higher, sneaking -- >> that happens to be one of the areas i know really well because i advise a company that's involved in that space, and that is one of the few places you've seen

u.s. businesses and households. and he actually told the truth and that is that every time that donald trump raises tariffs, that is paid for by working class americans when they go to the grocery store, working class and middle-class americans when they go to walmart, when they go to target, whenever they go out and shop, american farmers getting hammered by this, small business owns are getting hammered by this. employers all across america hammered and there you even have a republican congressman saying that the president is lying. these are trump taxes. now he's just said he's raised taxes on american consumers $200 billion. >> yeah, joe. in a is certainly all correct. the fact is nobody wents from a tariff war. we are going to suffer from this tariff war. i have some charts that i might show you later. it's not even just the taxes which get paid, which are now raised to $25%, but it creates pricing umbrella for other businesses to raise their prices and charge us more. you end up with jobs lost and donald trump

u.s. tariffs will cost the typical american household $106 billion a year, $831 for the average american familymoney coming out of your pocket but businesses are working very hard to absorb as much of the cost as they can, but some are warning the new hikes are going to have to be passed along to consumers. let's get the story from one business grappling with all of this. alex camaro, the ceo of radio control, a seattle-based manufacturing company that does all its manufacturing in the u.s. correct? but it's still having to cut back because of the trade war? what's going on? >> that's right, liz. great to be here, by the way. we first of all agree totally with the fact we need to rebalance trade across the world. the u.s. is in some ways been at the down side of that and we agree with the administration's desire to rebalance that. i think all u.s. manufacturers would agree with that. however, the current situation is just a very difficult one for small and midsized manufacturers. we are a company that's been around for over 40 years. we are based in seattle. we manufacture everyday great audio

it would force everyone to answer whether or not they and others in their household are u.s. citizens. federal law prohibits the senses from sharing data with other federal agencies, such as ice. the laws have been circumvented to target minority families. during world war ii, the census bureau found a loophole to help the government identify japanese-americans for internment. if the supreme court allows the citizenship question to appear in the 2020 census not to seek any data whatsoever in violation of existing law regarding immigration status from the census bureau? mr. albence: i would never ask any of my officers to be something in violation of law. end of the by the summer, the president wants to sanction countries with the visa overstay rates higher than 10%. including by potentially restricting entry from those countries. plain english, that means tearing apart families simply because of the nation they hail from. 13 of the countries are in the continent of africa, caribbean nations like jamaica and haiti could become targets. now the president is putting those words

u.s. citizens was designed to discourage hispanic households from answering and being counted.how the makeup of congressional districts are decided and ultimately could ben put it republicans. cnn's arianda vogue joins me. what was found? >> a new trove of documents found on a hard drive that critics say show this decision was politically motivated, right? it came from a man who they say played a significant role. thomas hoffler. he's since died but in 2015, he wrote a study, and in that study he said citizenship data could be advantageous to republicans and non-hispanic whites. keep in mind the administration has all along argued that this information was important to comply with the voting rights act. they always have pushed back that it was politically motivated. but now critics say this could be the first concrete evidence of the true motivation. remember, jake, every lower court ruled against the administration here, but the supreme court heard arguments in april. and this could be one of the biggest cases of the term. >> we're only weeks from the supreme court ruling on t