hints at countermeasures to president trump's threat of car tariffs, in a submission to the us department of commerceh as $294 billion worth of trade has been earmarked. in the daily telegraph, another world cup upset — the paper is calling it a ‘russian revelation' after the hosts sent home spain in a penalty shoot—out. let's look at the independent, which takes us to australia, where a ban on plastic single—use bags has led to widespread abuse of shop staff. it's been labelled ‘bag rage‘, as two major supermarkets struggle to impose the ban. one irate customer tried to strangle a shop assistant. and finally in the guardian, wimbledon begins today. many papers are leading with andy murray's decision to pull out of the tournament due to recent surgery, but we've still got roger federer to watch — he plays on centre court in a few hours. so let's begin. with me is independent analyst, dr stephanie hare. so nice to see you on a monday morning, so early. let's talk about the showdown with merkel, the german paper frankfurter allgemeine is here, saying that horst seehofer is threatening to resign, how bi

hints at countermeasures to president trump's threat of car tariffs, in a submission to the us department of commerced. in the daily telegraph, another world cup upset — the paper is calling it a ‘russian revelation' after the hosts sent home spain in a penalty shoot—out.

but the us department of commerce has recommended the licence request be denied. es in taiwan's smartphone maker htc fell 7% after the firm said it would cut 1,500 jobs — or about a quarter of its global workforce. htc was once a major player in the smartphone market but it has been struggling to keep afloat as it tries to compete with industry giants like apple and samsung. the accounting watchdog has launched an investigation into kpmg's audit of collapsed bargain booze owner conviviality. the financial reporting council said it was also looking into the preparation and approval of conviviality‘s financial statements and other financial information. conviviality went bust in april. the uk's top share index climbed on tuesday following a shaky start to the month, although mining giant glencore fell after one of its subsidiaries received a us subpoena. that's all the business news. there is a big match tonight, even i know that! it might seem like world cup fever is gripping the country, but not all football fans here are rooting for england during tonight s world

of the summer holidays. here's your business headlines. the us economy grew at an annualised rate of 4.1% in the second quarter, according to the latest figures from the us department of commerceices after the bungled introduction of a new it system. tsb says only 37% of more than 130,000 complaints have been resolved so far. twitter‘s latest results — record profits but falling user numbers. and the shares have plummeted, down 17%. it's the number of people who use twitter that investors really care about more than profits and on a monthly basis they fell by one million on the previous quarter to 335 million. an investigation into the effects of a cashless society? if you were to suddenly have a cashless society tomorrow, you wouldn't have to worry about it. we are nearly there though. it goes down every time, the number of people using cash goes down pretty much every year, but we never get to the point where we don't have cash was that the figures last year, a 14% rise in debit payments last year and a 15% fall in cash payments. however, you have 2-3,000,000 cash payments. however, you have 2—3,000,000 people who just use cash mainly at the moment. do you? no, notts since p

if you have one of the department of commerce and one of the department of defense and then you end up arguing. we actually used to have that inside the department of defense because we had one that was done by the navy and one that was done by the air force and is not healthy to be arguing over which one is better. you have picked the best data and build that catalog. the authoritative catalog will always be in the department of defense. then they can take other pieces to do the interface with other nations in the commercial sector, possibly with nasa. i would envision what the congressman did, i would see it at the coalition center, will have international partners and commerce and that will feed information out of there into commerce and into nasa. i think that's a healthy way. like the secretary said, we are still in the early days of figuring this out. >> and still that clarification you just mentioned i think is very reassuring to us and it shows a wonderful relationship between dod and the department of commerce. thank you, mr. chairman. >> the chair recognizes ranking member johnson. >> thank you very m

of the clear. the us commerce department says this was the strictest penalty they have ever imposed, however us lawmakersd republican, have serious reservations. they consider zte to be a national security concern, so zte to be a national security concern, so this may not go away any time soon. not only national concern, but 4.7 billion dollars is still a small amount to pay. well, it isa still a small amount to pay. well, it is a battle royale in the media industry. both 21st century fox and the us cable network comcast have raised their bids for the european broadcaster sky. what exactly are they after? here is our business editor. so why does everyone want to get their hands on sky? well, basically there is a global arms race going on in the media world, both for content, so you are seeing a merger between disney and 21st century fox in the pipeline, and also for distribution, because as the new pretenders, people like netflix, begin to nibble away at the distribution or home turf in places like the us, some of the established names need to get more global and get more global distribution quickly. and

of tariffs. the us commerce department is holding a public hearing on potential new tariffs on ca rs hearing on potentiale european union into the united states. no decision will be made today but proceedings will factor into the trump administration's decision—making. you remember donald trump has threatened the eu with car ta riffs trump has threatened the eu with car tariffs in the past and on wednesday he raised expectations with a meeting with jean—claude juncker later this month, saying if he doesn't get his way, he could act with tremendous retribution. in the us the idea of putting tariffs on european cars is being met with resistance. european members of congress are considering a bill that would help the tariffs being considered by the white house. it could cost thousands ofjobs in the us and raise the price of imported ca rs by us and raise the price of imported cars by $6,000 and domestic cars by $2000. joining us is jane foley, senior currency strategist at rabobank. brexit, these notes that are going out both from the uk government and the european union, they had held off on doing this bec

use economy grew at the fastest rate since 2014. 2014. the commerce department reported the april to june quarter rated 4. 4% of us as a country store output of goods and services also posted its best showing since the third quarter of 2014. president trump spoke about today's report from the white house. >> [inaudible conversations] >> [inaudible conversations] >> good morning. moments ago the numbers for america's economic growth were just released, and i am thrilled to announce that in the second quarter of this year the united states economy grew at the amazing rate of 4.1%. we are on track to hit the highest annual average growth rate in over 13 years, and i will say this right now and i'll say it strongly, as the trader joe's coming one by one, we're going to go a lot higher than these numbers, and these are great numbers. during each of the two previous administrations we averaged just over 1.8% gdp growth by contrast we're now contracted an average gdp annual growth of over 3% and could be substantially over 3%. each point, by the way, means approximately $3 trillion, and 10 million jobs. think of that. the point, you go up 1., it

i've listened to a lot of his folks at the state department, at the nsc, at the department of commerce, tell usverything is right, tell us that the president is going into that meeting with vladimir putin to push back on election interference. they're all wrong. they were all wrong. they have no ability to influence this president. president trump has made a decision to put himself in a subservient position to vladimir putin. we don't know why that is. but if i was in his national security cabinet and i wanted a future in foreign policy, i would probably get out now. >> what about the dni? director dan coats. what do you think he should do? i ask you this -- i'll give you more context because we had former dni james clapper on who said that if it were he, he would resign today because he thinks that not only has president trump, you know, sort of thrown director coats off the bus but that he's irrelevant. that obviously the research he's presenting, the argument, the case he's making is irrelevant to the president. >> yeah. listen, obviously i would never take a job in the administration in the

if they were to violate the terms of the agreement, the us could draw on this, and then the us commerce departmentn to be lifted. as you say, shares surged on the news. on the hong kong stock exchange, they were up about 24% at one point, and on the shenzhen stock exchange the most they can do is 10% and they reached that limit. this is one of the last issues to be resolved. they have paid the $1 billion fine and they haven't prevented the compliance team and change the management. and this is the last thing, putting money in the holding account. critics in the us from both sides say this does not resolve the issue of national—security. they say they violate issues of nationals to be to put ina violate issues of nationals to be to put in a statement the us commerce department said it was the toughest penalty and strictest compliance regime they have ever imposed in such a case and they have defended it saying it would deter other chinese deli communications companies from doing similar things. thank you very much. that is the latest on zte. let's look at markets in asia. after bruising session the

of us do what that means. maria: this ahead of the commerce department hearing on all tariffs.his morning, take a look, futures indicating lower opening for the broader averages, down just real down 40 points, nasdaq down 20, major indices closed mostly higher yesterday,

us and the rest of the world. china has already imposed additional tariffs of 25% on cars and parts and imported into the country. those taking fact best friday. meanwhile, the us commerce departmentng whether washington should limit cars made overseas from entering its market. what impact will they have in japanese and other asian carmakers? janet lewis says they are analysing the next move is. the key differences are going to be forked carmakers in nafta and those who import. exhibition motors imports exclusively from japan, nasda mostly from japan with a little bit from mexico. in contrast, a company like honda is very localised. they would be much less impacted as long as the ta riffs be much less impacted as long as the tariffs for now were limited to outside nafta. how could these carmakers, the japanese carmakers you mentioned, how could they potentially protect themselves and what are they doing as a response? in terms of protection, u nfortu nately in terms of protection, unfortunately there is little in the way of near—term solutions. if you think back to when you have the first push of localisation it was in response to quotas and pressure at the time of the paris are c

of the political left and right rick starting monday, will discuss the vietnam war. on tuesday august 7 -- >> during the last court use economy grew at the fastest rate since 2014. 2014. the commerce department reported the april to june quarter rated 4. 4% of us as a country store output of goods and services also posted its best showing since the third quarter of 2014. president trump spoke about today's report from the white house. >> [inaudible conversations]

while the us president can impose tariffs on national security grounds therefore he has ordered his u.s. department of commerce to investigate whether imported cars are a threat to national security that sounds ridiculous and that's what many lawmakers say therefore they are trying to block this attempt they are working on different bills to delay the tariffs or even talking about trying to wrest control of their trade policy back from the you ask president they're working on a bill that would require a congressional improvement of tariffs that would be imposed on national security grounds our correspondent alex some of phenomena in washington thank you very much . the european union has introduced temporary quotas on steel imports e.u. lawmakers fear the u.s. tyrus will encourage major producers like china to send their seal to the e.u. instead could leave. which may destabilize the steel industry there is a lot of steel on global markets at the moment primarily due to chinese overproduction china makes almost as much role steel as the rest of the world combined quarters will stay in place for a maximum of tw

of that law. they also pointed us to a part of their de department statement, the commerce department statement, in which they said, "the vast majority of the holdings described in this story have been told by secretary ross, and he has committed to sell the remainder." so does that solve the problem? >> no, it does not solve the problem. there are a couple of things there. first of all, the letter was looking at the interests he hel ter he said he was going to divest them, companies like greenbriar which we mentioned earlier. it does not y they looked at all his meetings overall, and rhere are other meetings with companies in whicss and his wife had interests at the time of those meetings. so those sortof metings are the thing the federal investigators would want to look at as well. anthe fact that he's now saying that he's in the process of divesting some of them, or that he's divested some of them, already, that does not absolve him of the fact of what he did at the time he owned those companies. so this is not, you know, a source-based story. you can just look at the calendar and his disclosure

us now. the department of commerce with china, are they ready to talk to the u.s.s on hold for the moment? reporter: it seems that there is an element of playing for time. there was a signal that talks are not happening at the moment but we know that. the question is -- are they willing to come back to the table in terms of both sides to resolve this? we did not get any details from the commerce ministry today in terms of how china will respond to terrorist. ] -- tarriffs. china has always made it clear they would retaliate in kind but there is a shift in the language saying they will respond but they are not detailing how they will do that. perhaps china is playing for time. perhaps they're trying to get the u.s. back to the negotiating table ahead of the august 30 deadline. francine: thank you so much. just to bring everyone up-to-date with what we heard, the u.s. president donald trump has threatened to pull the u.s. out of nato if allies do not immediately increase defense spending. this is according to the german news agency, dpa citing unidentified people fol

of intellectual property rights. to us that's a very fundamental activity and a very important one. recently, the u.s. patent office, as you know, secretary, is part of department of commerce, we recently issued our ten millionth patent, no country in the history of the world has ever approached anything like ten million patents. and most interestingly, more than half of them were issued in the last 30 years. so the entire history of the u.s. prior to 30 years ago produced fewer patents than we have in the last 30. and if we calculated the last five, that would be even a huge percentage. so ipr is really important because it's the future. so we have a great deal of difficulty with forced technology transfers, we have a great deal of difficulty with cyberattacks. we have a great deal of difficulty with outright theft of ipr. so our strategy has two components to it. one is to deal with today's world, and that's things like steel, aluminum, and possibly automobiles. the other part is to deal with the future. and that's largely the high-tech areas, so we feel there's a need to normalize dealings and level the playing field both in terms of the traditional industries and in te

of us do what that means. maria: this ahead of the commerce department hearing on all tariffs. markets on edge this morning, take a look, futures indicating lower opening for the broader averages, down just real down 40 points, nasdaq down 20, major indices closed mostly higher yesterday, don't disrespect up 80 points, the s&p was up 6, the nasdaq right about where it opened, flat on the session. mixed performances, trade tensions weighing on investors, the s&p is up 15 points but the cac quarante is down 20 and the dax index is down 40. in asia declined across the board, worst performer china, shanghai composite down one half of 1%. a new twist in the controversy surrounding papa john's, the company's founder held talks to merge with wendy's. the fallout after he resigned coming up. the car dealership going digital. amazon teams up with her and day, you can team up with your next ride on the race to a $1 trillion valuation. money milestones. a new survey showing the ideal age to buy a home. it might surprise you. joining me to break it down foxbusiness's dagan mcdowell and mit

lynn fisher fox used to be with the u.s. department of commerce.rters. she specializes in legal remedies, trade remedies. if you are covered by the tariffs and nothing changes, how do you navigate it? is the remedy, a temporary reprise? a lot to talk about there. kathleen: a lot to look forward to on your show. before we hand over to bloomberg markets: asia, a look at how markets are trading. we are seeing the green getting deeper in asia. the nikkei is up more than a full percentage. the cost be -- kospi. up 0.1,sx 200, this was now we are 2/10 of a percent. things are looking good. yvonne: looking like a relief rally ahead of the tariff announcement. we are set for a fourth weekly decline of more than 1% for asian stocks. before it is just a calm the storm as we get closer to president trump's announcement. we see equity futures in singapore, as well as taiwan up. we see resilience coming through from these manufacturers. these trade frictions by malaysia seeing slack. more to come on bloomberg markets, next. retail. under pressure like never bef

us will the u.s. is posting second quarter growth of four point four percent the commerce department said that the expansion is being powered by a rebound in consumer spending and exports and firm business investment analysts believe president trump tax overhaul may have encourage consumers to spend extra money in stores they appeared to be confident about the future of the economy as more and more durable goods were sold like washing machines or refrigerators late last year congress passed from one point five trillion dollars tax cuts to boost economic growth. as a brand i hope from the frankfurt stock exchange down an impressive figures but how did the markets take it. well trading is done here for the weekend the route of execs close actually with the six weeks high here at the level of trust thousand eight hundred and sixty points the next goal here off investors will be again the thirteen thousand point well given the fact that also trading on wall street was receiving the latest g.d.p. figures quite well a slight plus there this has given cheers also here a little boost before the weekend but let me t

us. former deputy assistant secretary with the u.s. department of commerce.iting for the clock to hit midnight. still ahead this hour, asia-pacific earnings are down in contrast with projec tions for the company. we will be unpacking that data. david: up next, we look at oil following the surprise increase. we look at the prospects next. this is bloomberg. ♪ haidi: let's head over to the oil patch where prices are at a low following an american stockpile at the same time saudi arabia lowering prices and selective ones in europe and asia as well a day after president trump called and opec to bring prices down. how much oil can saudi pump to bring prices down? the saudi says say they have 2 million barrels. last month, they said they increase production to 2.5 million barrels a day. showing the market that they are tackling the higher prices and pumping more oil. they are making a concerted effort here. as to whether they can pomp, how much more they can pomp or are willing to pump depends on a lot of various sectors in the market. and talkisruptions, from the

us welcome to the u.s. economy is growing as out its fastest rate for four years posting second quarter growth of four point four percent the commerce department said that the expansion is being powered by a rebound in consumer spending in exports and firm business investment analysts believe that president trump's tax overhaul may have encourage consumers to spend their extra money in stores there appear to be confident about the future of the economy as more and more general goods was sold like washing machines or refrigerators congress passed from one point five trillion dollars tax cuts to boost economic growth as a brand from the frankfurt stock exchange down to impressive figures but how did the markets take it. well trading is done here for the week and the routes have execs close actually where the six weeks higher at the level of trust thousand eight hundred and sixty points the next goal year off investors will be again the thirteen thousand point mark well given the fact that also trading on wall street was receiving the latest g.d.p. figures quite well a slight plus there this has given cheers also here a little boost before the we

charge the department of commerce with creating free situational and tracking management capabilities i've heard department of commerce higher ups talk about the fact that space wars could be usedfor enforcement abilities for space traffic management and kind of the leverage behind the creation of that and i was wondering if you could speak to that and whether or not you think that's necessary or something that could fall into the air force capabilities. >> great, thank you. and finally, last question. >> hi. one of the major complaints i've heard from folks on the hill about the air force is that space acquisitions, there are too many people involved in making decisions and that has slowed the process down. do you agree with that complaint? and what would be the way to address it? >> super. so we'll begin with steve and give the secretary the last word and any brief answers and very brief concluding thoughts. we've got about four minutes left. >> i'll keep it short. thank you. as far as the commerce question, personal view is i think it's a very good start. there will be a great amount of taking place in commerce to shepherd this and a great amount of activity going on with th

us from new york. the trump administration is taking aim at beijing once again, moving against allowing china mobile to enter the u.s. telecoms market on grounds of national security. officials at the commerce department say the fcc should deny the company's 2011 application. let's bring in just object, joining us from washington this morning. all attempts to push back against the administration's trade policies seem to be fizzling out right now. latestt, well this recommendation shows there is no shortage of distrust with china regarding their companies entering the u.s. market or having anything to do with the u.s. market. there has not been much chance of congress moving against trump , trying to restrict trade, but most of that has to do with allies. there is great sentiment in congress and probably the public at large, cracking down on china. this is another example of the administration going that way by saying that china mobile is wholly-owned by the chinese government and as such is andect to coercion influence for potential economic espionage. wasne: and the president speaking about the wto. there is a lot of speculation that that is his next target, saying things have to change. take a liste

of free trade agreements it's now negotiating across africa the us economy is growing at its fastest pace in four years fostering second quarter growth of four point four percent the commerce department said that the expansion is being powered by a rebound in consumer spending exports and firm business investment analysts believe that president trump's tax overhaul may have encourage consumers to spend their extra money in stores. this use me they appear to be confident about the future of the economy as more and more durable goods was sold by washing machines or refrigerators late last year congress passed from one point five trillion dollars tax cuts to boost economic growth. shares in twitter plunged seventeen percent in early trading that's after the short messaging service that the number of monthly users was down by one million in the second quarter and it expects the further drop in the near future user numbers are declining as twitter intensifies efforts to fight spam fake accounts and hate speech strick to privacy rules in europe have also made business harder twitter is the second major social media firm to report a decline in uses after facebook it came just a day off of t

the us commerce department asked that question in a hearing this morning.... at the request of the white house, which is considering tariffs on cars produced by foreign car companies. (grant) many american auto workers actually work assembling "foreign" cars like bmws, toyotas and kias. our washington d.c. correspondent brie jackson reports lawmakers joined autoworkers to make a case against the tariffs nats:on the streets of washington d.c....to the sidewalks of capitol hill....america workers from across the country are showing pride in the foreign cars they help build. senator doug jones says his state...alabama...and others rely on the auto industry to survive. is thriving in large measure because of our automobile manufactures and the way we export so many of our automobiles not only around the country but around the world.a group of autoworkers teamed with lawmakers to urge the administration not to impose new taxes on cars, trucks and auto parts. lawmakers, builders and suppliers say the proposed increase could drive down demand and threaten jobs. president trump says th

commerce department for machine tools for the military. let's go back to the 5% tech startup getting us government support. >> guest: that was one of the seeds of the project was the thought that potentially the us government was giving out contracts to technology companies that had chinese money behind them because everyone was told that would raise significant concerns. as you can tell from the passage we did not necessarily find a smoking gun of that nature but we did find there were companies that had us government contracts even if it was not necessarily at the time they were receiving money from chinese investors but it does raise the specter that there is cross-pollination here and from talking to several security experts they say that is something the chinese government would want to do and they have an intense interest in knowing what the us government is investing in and what they're interested in contacting out to do because these early-stage companies are going to be the technology that powers the military and the government ten or 15 years from now. if china can get a jumpstart on that and know what the us is thinking about ten

department as our us bureau chief alexander phenomena at the new york stock exchange financial correspondent. start with the u.s. commerce department is holding hearings on the tariffs do you think they'll find anyone in favor of them it seems there's widespread opposition. yes you're right. old but one of forty five witnesses scheduled to testify today are expected to testify against plan to impose tariffs on imported cars and car plants only one representative on their labor union of the united auto workers expressed today is sort of measure and supports saying that decades of disinvestment and all showering you as jobs by multi-nation oil companies has weakened you as economic security as a nation but old all were witnesses i was listening to were quite sure they wanted the consequences of such terrorists would be on the floor scene and this stressed that the you ask car industry is thriving so there is no case here no threats to u.s. national security ok so let's cross over to new york now yes we heard about consumers and employees already but what will be the effect on companies themselves well quite simply margins in the u.s. car industry are actually that's true for the car industry globally are not ver

using commercial airlines. price was forced out last fall, after reports of his travel spending sfaced. the u.s. commerce department formally lifted a seven-year ban on u.s. companies selling parts to chinese telecom giant zte. the trump administration imposed the ban for violating sanctions iran and north korea. then, it agreed to a settlement that included a $1 billion fine. and, on wall street, the dow jones industrial average gained 94 points to close at 25,019. e nasdaq rose two points, and the s&p 500 added three. for the week, the dow gained 2%. the nasdaq and the s&p 500 rose more than 1.5%. still to come on the newshour: mark shields and reihan salam analyze president trump's chaotic trip to europe and, the lost music of jazz great john coltrane. >> woodruff: it has be a busy week in politics, here at home and abroad. for more, we turn to the analysis of shieats and salam. s syndicated columnist mark shields, and "national review" executive editor reihan salam. and david brooks isway. we welcome both of you. what a week, mark. let's start with the special counsel returning these indictments today, sweeping

technology they use all manner of coercion to say give us your technology if you want to sell in that market. they evade our export controls which are put in place by the department of commercet military technology. they accumulate so much of our wealth through unfair trade practices and their trade surplus with it, they buy it. they're going into silicon valley, austin and boston -- and just buying it up. >> we actually -- >> good news there, i was on the hill yesterday and there's strong signals that the siffus bill and senator cornyn has had great leadership on this is close to fruition and we really need to -- we need to stop that technology from being just bought and taken back to shanghai, because this is our future. if you look at artificial intelligence, robotics, advanced manufacturing, high tech chipping, these are the china 2025 industries that china is targeting and so, unfortunately, it's a zero sum game now between china and the rest of the world and what we need to do as a country is to work with the rest of the world to make sure that we have a prosperity in the globe and a high stock market. it's all good. >> next time you're on, we'll pull up that sound byt

use of section 232, twisting the definition of national security beyond reason, invites other countries to do the same against a wide range of u.s. exports. theite these evident harms, commerce department is now investigating whether to employ the same national security argument to restrict imports of autos and auto parts. there is no national security purpose for this, and the damage would be exponentially greater. for these reasons, business roundtable strongly supports chairman corker's bipartisan bill to get congressional approval for 232 tariffs. we would also support other theslation to limit invoking of section 232. hasadministration demonstrated that the statute is susceptible to misuse. it is time for congress to exercise its constitutional prerogative to prevent harm to the economy. finally, section 232 risks alienating u.s. allies needed to address the real problem in international commerce, chinese policies and practices. most business roundtable companies have encountered at least one of these serious problems, intellectual property theft, forced technology transfer, unfair restrictions chinese markets, and competing with state-subsidized chinese companies. roundtable ther

of artificial intelligence and machine learning and put it to use and make it effective. shery: what happens to the microcontrollers and the driving revenue, if auto tariffs are put in place? commerce departmenttill investigating the auto parts as national security threats. rick: i do not think it is about a national security threat but balancing trade. thinking freely trade will be the rule coming out of this and we think there is more opportunity for it. a demand for automotive production. if you look at the growth and where it is taking place significantly is china, southeast asia. we think that will take place. -- talking about electric vehicles and we have move some of our technology where we can support a share of the electric vehicle market that we not -- that we had not planned on a couple of years ago. david: where on your list is doing a deal for nxp semiconductors a different deal, either as a buyer or seller, should we expect you in the market as a buyer or seller? rick: we will do from acquisitions we need for technology but a merger of equals, we did retail three years or so ago that was more of a merger of equals, qualcomm would have driven a huge powerhouse but we are focused

used for unlicensed service in the near future. rep matsui: last week i i'm working on legislation to direct the department of commerce to convene a working group of industrynd stakeholders to develop a consensus based definition of chain. particularly potential applications in communications networks including iot deployments and spectrum sharing. next generation networks including 5g, cable, radios, ensuree opportunity to spectrum is being used as efficiently as possible but no commonurrently definition of block chain which itsd potentially hinder in deployment and spectrum use thes where share may be only viable option. commissioner rosenworcel, what chain haveould block in increasing spectrum efficiency? com. rosenworcel: thank you for forwardtion and being thinking about this. i've written pieces where i've pointed out that spectrum is a scarce resource. we need to come up with more efficient ways to distribute it licensedn traditional and unlicensed regimes and using distributed ledger technology like block chain could make that possible. we could see dynamic leasing, we could see light weight leasing and more innovative use

us that authorities are still working to reunite spouses of children with their families. -- spouses and children with their families. >> reporter: the department of homeland security says what they are doing at the border is working. >> commerceds to fix are insane immigration laws according to president trump. he wrote, illegal immigrants must be told to leave without a long and costly trial. tell the people out, just as if they were standing on your front lawn. >> reporter: after touring a facility, when republican echoed the desire for congressional action. >> we cannot depend on any administration, republican or democrat. we can't depend on court rulings. >> reporter: a democrat wandered by the policy was enacted in the first place. >> i don't want to lose compassion for people who need help. >> reporter: health and human services says it is working to reunite the nearly 3000 children who may have been separated for the parents by the court order july 26 deadline, a deadline that was called artificial. >> we have to confirm that these are in fact their parents. we have to confirm that they are appropriate people to be having custody of these children. >> reporter: the ace all -- aclu rebuked him saying -- when told to reu

us now with exclusive details what to expect. charlie? >> you know listen i can't tell you what will be in the numbers because i'm not inside of the commerce departmenthese numbers but i can tell you what they're saying in trump administration and what president trump is saying. following our report earlier today bond yields spiked a little bit. shows you the markets are starting to price in higher economic growth government is predicting. here what we know from people spoken to president trump. he is expecting second quarter ggp growth to grow at 4.8% clip. that is pretty hefty if you think about it. last quarter we were at 2%. during the obama administration, last time we had something like this was back in third quarter of 2014. we should have a whole story on this on foxbusiness.com where economic growth hit 5.4%. but remember growth went down during the obama administration. he basically had average economic growth, not higher than 3%. what we're going to get coming out of this report on friday, again this is predictions from inside the trump administration, other officials inside the administration are predict 4.3 to 4.5% growth. what we get on

of breaking news it just continues. the commerce department has just released the latest quarterly economic numbers, and they are big breaking news. so let's get right to cnn's chief correspondent christine. tell us numbers here. >> 4.1%, and this is the strongest economic growth since the fourth quarter of 2014 when we had a 5.2% reading. you can see that is nice rebound from what was a disappointing first quarter this year of only 2%. that's from recent quarters here. and again four times during the obama administration, and so you saw 4% or higher. but this is definitely an improvement over recent quarters. here's what the impromvement is from. personal spending. exports are up, specifically pointing out soybean exports. because you saw customers rushing ahead to secure orders before retaliatory tariffs, before there was going to be -- >> so can you say the president's gambit on tarifficize working at the moment? >> his gambit is one of the reasons why you saw this russia head. also the tax cuts were in here, that's an important part of this. the tax cuts are appealing to the economy. that could fade later in the year, so a lot of economists are saying don't think the 4.1% maybe is all that su

the commerce department has begun open hearings over car imports posing a threat to national security. joining us is bloomberg's automotive reporter. in terms ofterday in the u.s., there was so much pushback and not so much support. reporter: exactly right. there has definitely -- there is definitely a call risk among industry groups and trading partners, all with the basically the same message. basically, the reasoning is that these tariffs will really hit consumers. the u.s. consumer. it will push price -- push up prices and lead to lob -- job layoff. it was several hours might started at a: 30 in the morning and ran into the evening, it really, this message was repeated over and over again. for example, one that i am area where of is toyota. toyota has said the camry, which has been the most made in --rica car, that will be go that will be going up in price. even a car that is made in kentucky completely is going to go up just because of how intricate the supply change is globally. haidi: we are seeing so much unity rise in that opinion. it is very different when the put tariffs on steel and aluminum. reporter: that is exactly right. there

us. >> thank you very much. david: melissa. melissa: all-day hearing by commerce department on the president's proposed tariffs. edward lawrence live with the details. edward. reporter: melissa, i can tell you right now the china chamber ofmerce vice chairman is talking to the commerce department against imposing possibly up to 25% tariff on importing automobiles and automobile parts. i can tell you hear the commerce department has received 2300 comment related to this, the vast majority against imposing these tariffs. now the auto industry says they were in protesting here actually with auto workers who came out. they are having what is called a drive-in in this area. they were driving around the commerce department in cars made in the united states and driving around the capital, saying don't impose tariffs. car companies say if you impose 25% tariffs, price of a car made in the united states would go up by $2,000. the price of a car imported to the united states would go up $6,000. in fact insurance companies say your rates will also go up because the price of parts will be more expensive. it will be more expense sufficient to fix cars. insurance companies will steal cars to get at more expensive parts. that means acc

use of section 232 twisting the definition of national security beyond reason invites other countries to do the same against a wide range of u.s. exports. despite these evident harms, the commerce department is now investigating whether to employ the same national security argument to restrict imports of autos and auto parts. there is no national security purpose for this, and the damage would be exponentially greater. for these reasons, business round table strongly supports chairman corker's bipartisan bill to require congressional approval of section 232 tariffs. we would also enthusiastically support other legislative approaches that would similarly advance the goal of preventing the misuse of u.s. trade statutes inappropriately to restrict trade. the administration's deployment and threatened deployment of section 232 tariffs demonstrates clearly that the statute is susceptible to misuse. it is time for congress to assert its constitutional prerogative to prevent serious harm to the u.s. economy. a final, less direct but no substantial harm from the misuse of section 232 is that it risks alienating u.s. allies needed to address the real problem in international commerce, chinese poli

commerce department's section 232 investigation concluded that those imports were a threat to national security. this also had the effect of raising the price of steel and aluminum that broil king used to make gas grills in dixon, tennessee. so prices for u.s.-produced steel that broil king buys are up 40% since january, according to the trade publication "steel benchmark." this is called shooting yourself in one foot. now here goes the other foot. europe and canada then responded to the u.s. tariffs on steel and aluminum by imposing tariffs on u.s. products sold in europe and canada, including gas grills. broil king exports to canada and europe. remember, they located their plant here so they could do thas the company makes in tennessee. the company told me last week they are losing money on every grill they sell in europe because of the combination of steel and aluminum tariffs and the response by europe and canada. broil king is also hurt by the march, 2018 announcement tariffs would be imposed on $50 billion by the united states on chinese goods because the company buys some parts from china that it used to make gas grills in tennessee. so now here is what's causing the owners o

us. we will see you on the other side of the break. coming up, ambassador david o'sullivan, the european union ambassador to the yes, among those speaking today at the commerce departmentat his case is around the tariffs. this is bloomberg. ♪ kailey: this is "bloomberg daybreak." investors are worried the online marketplace ebay is losing momentum. the company give a lackluster sales forecast for the third quarter and lowered its revenue forecast for the year. ebay is trying to find its place in the shadow of amazon. and brick and mortar retailers are improving their own online options. blackstone group making a dent in its war chest of cash. the largest alternative asset manager invested more of the money sitting on the sidelines in the second quarter. blackstone still has $88 billion of so-called dry powder left. the economic net income beat estimates. it features realized and unrealized investment gain. s&p's that on the cloud business is paying off. the software giant raised its outlook for this year and next, as they cited accelerating cloud sales. the covenant says the new cloud -- been growing faster than has been growing faster this quarter than in the first. j

states, now 74% of the parent company is owned by the chinese government and that according to the commerce department makes them a national security threat. the administration also using national security to slap those tariffs. and try to get other countries to the table to make fair trading deals. now what it has done so far is have those other countries fighting back. the countries are putting retaliatory tariffs on the united states like china, mexico, canada. the european union, in fact, the european union saying they go forward with a 20% tariff on autos imported in the united states, they will then slap 300 billion dollars in new tariffs on items from the united states going into the european union. now the white house is holding firm saying, that economic numbers are strong. and therefore, things will work out. >> booming economy is created job after job after job. isis is on the run one day after the next great things are happening across the globe and particularly in america and this president is leading that effort. >> again, with the belief in the white house is that the other countries have more to lose than the u.s. in the long run that test will be if ou

department of commerce to reverse the denial order on zte. one example of where we actually hit them where it hurts as opposed to them hitting us where it hurts, like on agriculture and fisheries. the congress on a bipartisan basis in the nda bill, we passed legislation to reimpose the original order. the administration lobbied furious furiously against it. zte hired a lobby firm here in washington that spent $1.3 million in a few months and got their way. they thought it was money well spent and, damn right, it was well spent. as a result of the administration's actions, they took that provision out of the ndaa bill, which has come to the floor of the senate now. now, you were asking senator schatz what he would do differently. and i want to know why we let zte off the hook when they have an astonishing record of engaging in exactly the kind of wrongdoing you talked about while every national intelligence and defense person says they pose an espionage threat, and why after they were caught violating our sanctions against north korea and iran, flagrantly and repeatedly, we finally did the right thing, and then for god knows what reason the pr