good for wilbur, good for wilbur. i said over and over again, as we deal with the north korean crisis, we need to be willing to play tough with china. that is what is indicated here. if it means losing a little bit on the economic side, wouldn't you rather lose dollars than lives. so good for wilbur ross. we'll talk about effect on markets. news today, starbucks is handing out bonuses because of the republican tax plan. get this, liberal media and democrats can't seem to give the president any credit for optimism out there or any great things companies are doing because of tax reform. wait until you hear what one reporter said to gary cohn. we go to blake burman out in davos where president trump will address leaders. reporter: hi, trish. it is a bit of a tricky spot for the administration. you know the america first, american workers american manufacturers, american companies, american interests, et cetera, on down the line and here they are at davos. along those lines treasury secretary steve mnuchin tried to throw

we'll start, let's start with wilbur. he basically said that china and their desire to further engage in the technological sphere is a, quote, direct threat to the united states. wilbur ross at one point saying, quote, trade wars are fought every single day. the difference is u.s. troops are now coming to the ramparts. they are trying to put out this message here, liz, at davos that look, the united states, this administration, is not going to stand for trade abuses anymore. here's more from wilbur ross earlier today. >> we don't intend to abrogate leadership. leadership is from being a sucker and being a patsy. we would like to be the leader in make the world trade system more fair and more equitable to all of the participants. reporter: the treasury secretary steve mnuchin tried to couch that by saying we've got this america first jean,ed this america first policy but america first means we can do business around the world. speaking of steve mnuchin, he made headlines of his own here in davos, he said you than whole thi

we have already heard from wilbur what ross -- wilbur ross who says the president has a and has ace personalitys people don't like, therefore they criticize him. wilbur ross said the u.s. is more free trade friendly than china. i think we were -- i do not think we will hear a speech that is against free trade, i think that will be some pressure to do that. putting the sanctions that were announced this week into that context. it will be interesting to see. it would be very much in keeping with president trump's past oftory at these kinds international gatherings to say. we certainly heard him say one thing and i'll a bad. in terms of dialing it back, does it see mike all that goodwill that was generated i ameen president x president trump has been rolled back? this week willns certainly comforted that relationship. it could be the start of increasing trade tensions between the two. advantageves china an in terms of trying to do free trade deals with other countries. this is something china has been stepping up. it really will put the u.s. at a disadvantage if it wants to go ahead and do individ

these tend to start when you have salvos like that. >> except of course wilbur ross did say this weekwe are in a trade war, and the president said we're not, not exactly on the same message. >>> mean while, back in washington and across the country, time is ticking on on the immigration deal getting done. on thursday, the white house released details of their framework for that deal, including a path to citizenship for daca recipients, in exchange for a $25 billion fund for its mexican wall. remember the one that was supposed to be paid for by mexico? and an end to the visa lottery program and an end to family reunification provisions, what the president calls chain migration. congressional democrats have called this proposal a nonstarter. you will recall that president trump upended immigration negotiations just a few weeks ago when he reportedly lashed out at s-hole countries where some u.s. immigrants come from. what exactly he meant is debatable. but these are just -- and this is the issue -- these are just his latest in a long line of comments about u.s. immigrants who he says br

they were talking yesterday, wilbur and steve, that there are more measures to come, come more tariffschristine lagarde from the imf. there is a split from the messages coming out from the european leaders are saying that we need to work together. they want a strong europe which i think is important. they are saying that the world needs to work together. this is how we survive and particularly the uk, how the uk has been so successful. it reached out to the re st of successful. it reached out to the rest of the world and invited the re st of rest of the world and invited the rest of the world and invited the rest of the world and invited the rest of the world in. was the heart of our success. talking about the uk, theresa may will deliver a speech this afternoon here. she has a strong message for internet companies, again. she has spoken about this many times, about them being more responsible about the wrecks dream is material and the hate speech, the fake on their platforms. today she will appeal to the delegates he ran to the investors, the shareholders and say that you can have an

wilbur ross says a trade war is already underway. will happen in the second half, but no decisions on whether the international listing will be there. and, are we seeing the end of an era? losing its place on an influential committee. salamat from hong kong. haidi: and i'm haidi lun in sydney. coming up, continued payouts. the casino market looks to be bouncing back. this is "bloomberg markets: asia ." ♪ haidi: the dollar demise. it any dollarid is looking for an excuse to take it lower and has been given the green light. we have these comments from the treasury secretary, and also essentially saying that a weaker dollar is good for the u.s. economy and competitiveness. interesting given the rhetoric coming out about china and south korea and taiwan over the past few years. rishaad: absolutely. how does it fair when it comes to individuals? company earnings? we are in the midst of a stellar earnings season. the dollar does play into this. here we go. the bottom half of this shows you what is been going on with earnings estimates. of

no, no i'll defend wilbur ross. rational trade policy which is pro growth and doesn't single out consumers or allies for bad things. >> sure. >> that's what we need give me a rational, well-balanced policy i hope president trump will say that one quick anecdote we were on a plane to detroit economics club in the summer of 2016 it was first comprehensive economic speech that the president made detroit economics club a lot of good things in there that we had developed in the working group. >> yep. >> all the people. one of the things we weren't happy with is trade stuff. and i remember going up to him and i said, sir, can i make a suggestion he looked at me. would you put in a sentence about the benefits of free trade and world trade? and he said, yes and he called across the plane to a very senior guy i won't mention him. did you hear that? i want you to put it in the text the benefits of world trade and free trade and that's always given me hope. hope springs eternal. >> yes. >> talking to the happy warrior here. >>

. >>> trump's team lands in davos with a clear message with treasury secretary steve mnuchin and wilbuross telling delegates that trade war is a thought every single day but confirming that nafta talks are reopening. >>> the president of colombia, juan manuel santos joins other political leaders in warning the u.s. against protectionism >> it will hurt everybody, especially the u.s >> shares for suez plummet as the french utility firm slashes its earnings forecast. we speak to the ceo in davos later today. ♪ >>> we've got a packed show for you, live from davos today we'll be joined by james young in a bit talking about tourism over in china. he's a co-founder and chairman of the largest travel platform over in china. we'll be joined by the ceo of jll, talking about property markets lobally. the ceo of mueller maersk will join us later on as well as president of the european investment bank. we'll wrap up with the ceo of russof tomorrow you'll be joined live tomorrow when you have this panel. >> we have the panel lined up. we have the uk chancellor on the panel, larry fink will be up the

mnuchin and wilbur ross.e heard from mnuchin how a weaker dollar is great for the economy, great for the world and we heard from wilbur ross saying , be ready for a trade war. this really has started some kind of reaction. china's top advisor is in town. china which is on the brink of a full-blown trade war with the u.s. will continue to open up its economy to global investors. he says some other measures that will be implemented will be beyond the expectations of international community. all of these stories are intertwined. indeed.hey are haslinda, good to see you. we put a chart together. this whole davos dollar debate, i wonder where it will rank. the plaza accord back in the late 80's. it talks about various interventions by various treasury secretaries. lloyd bentsen in 1993, ruben in 1995. the question of course is the yuan is strengthening. the yen is strengthening. haslinda, surely in the last couple of days, it is going to be about currency that the davos glitterati focus. haslinda: the currencies w

amy: i want to go to a video that the west virginia cattle farmer wilbur tennant shot on his property in the 1990's after he sold part of his land to dupont for what the company had assured him would be a nonon-hazardouous landfill. this is tennant filming a stream. that water should not look like that. there's something wrong with this water. what effect will this solution have on the livestock? dead deer andwo two dead cattle. it was hammering disease, all right, the blood run out of dnrr nose and mouth, but has never checked into it. they need the epa or the state of west virginia, to try to cover this up. but it is not going to be cocovered up b because i'm goino bring it out in the open for people to see. amy: that video shot by the farmer wilbur tennant on his property in parkersburg, west virginia, after he sold part of the land to dupont for a landfill. a year later, he felt what happppened too his cows. >> you can see she has hemorrhaged out the nose. disease this hemmoring are what everyone a collar, but this cow died wiwith an exemely high fever. you see the discoloration i

wilbur ross will be coming when "squawk" returns and the wolf huffed and puffed...do sometimes, grandpa? well, when you have copd, it can be hard to breathe. it can be hard to get air out, which can make it hard to get air in. so i talked to my doctor. she said... symbicort could help you breathe better, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. symbicort helps provide significant improvement of your lung function. symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort contains formoterol. medicines like formoterol increase the risk of death from asthma problems. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. you should tell your doctor if you have a heart condition or high blood pressure before taking it. symbicort could mean a day with better breathing. watch out, piggies! get symbicort free for up to one year. visit saveonsymbicort.com today to learn more. if you can't afford your medication, astrazeneca m

and since then, trump has said to people, a phrase he uses about wilbur, he said wilbur has lost his step. and he actually said, he's probably lost a lot of steps. so trump has been denigrating him, took him off the field last july and wilbur has tried to ingratiate himself since then. he's been trying to court his colleagues with dinners. but he's never going to be the force he was when he came into this administration. >> donald trump proves to anybody that's working for him right now and anybody that's listening to our program right now, being loyal to wilbur ross, or to donald trump, never pays off. because in the end, he will use you, humiliate you and throw you away. that's what he did with wilbur ross. some of jonathan's report something obviously concerning. somebody connected with the white house saying yes, wilbur is really good until about 11:00 a.m. >> yeah. which i guess gets to the doziness. what i was wondering from jonathan's reporting on wilbur ross was to what extent he thought this was a policy difference that the president had with ross over trade. i mean one of t

treasury secretary steven mnuchin and commerce secretary wilbur ross. then micro some of the founding erbil gates. blackrock ceo larry fink, the chairman of ubs, a exerks l weber and stephen schwartzman all on the program tonight. connell mcshane is standing by with the headlines. reporter: president trump is making a splash in davos, whetherland this week. the president using his speech friday morning to hail his first year achievements. president trump: regulation is stealth taxation. in air today those days are over. we cut 22 burdensome regulations for every one new rule. reporter: the government placed tariffs on wash machines and solar panels. also at davos, treasury secretary steve mnuchin sending the dollar to a 3-year low when he told reporters a weak u.s. dollar would be good for america in the short term. he later said the comments were taken out of context. markets finishing in the green for the week. jerome powell becoming the secretary of the federal reserve. president trump first nominated powell in early november. maria: i had the chance

we saw wilbur ross will have this on trade.dent has been pretty angry with ross because he has not been fast enough. >> the real concern came over china that he made a strong case against the chinese when the u.s. dialogue and the two places were meeting. so there are questions the trade policy in the white house, the trade has presented into the role. presidentluence the in the direction of taking a hard line on nafta. mentioned import pros within 90 days. so many things need to be decided. it is not anymore about looking into the issues with china and mexico and canada. it is about making a decision. . they will impose sanctions or let it slide. if the president doesn't believe that is the case, take the unilateral actions, like china, then you see what they do. the siu have a lot of industries, which would be very up set -- very upset. farmers are putting an arm is pressure on the administration not to step in. they have already put restrictions on soybean imports hurting soybean sales. mexico and canada by a lot of our prod

and wilbur ross will join marianne rafferty fromr --will o tomorrow morning. charles: we begin with the trump team take over davos, switzerland, white house officials sweeping the headlines. we hit a air pocket after commerce secretary wilbur ross made comments about the u.s. getting tougher on trade deals. steven mnuchin said people probably overreacted to a weaker dollar. president trump: i'm going to davos now to get people to invest in the united states. i will say come into the united states, you have plenty of money. but i don't think i have to go because they are coming. charles: before he left he thanked his white house staff, and one person in particular. president trump: who knew i was going to be here. kellyanne, thanks, great. she is more famous than i am. charles: with me the star herself, kellyanne conway. >> that was nice for the president. it took me a while to stand up. we are here humbly trying to serve the country. what the president and his administration has done to spur growth. you have seen 100 companies respond to the tks cuts. it's jus

saying wilbur has lost his step. swan will have much more on this report coming up on morning joe. >>> and president trump's voter fraud commission, a researcher for the advisory commission requested on two forms that voters with hispanic sur names be mragd and information sent to the panel. the commission asked every state for detailed voter information that included full names, addresses and the last four digits of social security numbers to investigate claims by the trump administration of widespread voting fraud in the 2016 presidential election. however, texas was the only state asked to flag hispanic voters. the white house and texas officials said the data was never shared due to the a lawsuit filed by voting rights advocates. earlier this month, the request was disbanded after ongoing lawsuits. since 1983, texas has identified voters with hispanic last names as required by state and federal laws. >>> joining us now from washington, white house reporter for the washington examiner, sara westwood. good to talk

>> you saw that yesterday midafternoon when wilbur ross made a comment the u.s.not get pushed around by the global economy and a further than the marker read into that a more protectionist type of talented stock sold off here. you've had 103 months now without a bear market and we didn't have one negative month in 2017. volatility has been missing from the market rally. investors don't pay much to take money off the table. maria's interview with mr. mnuchin and mr. ross will be tremendous and your viewers should stick around because comments could move the market for today. trying lauren: if i hear you correctly, and the catalyst that derails this bull market. spin that the global economy has been growing on a synchronized level here. every economy is growing higher. that doesn't help anyone. there's a lot of rhetoric being thrown around, but i don't think anything anyone's best interest, china or the u.s. for a trade war. turning to his davos and the unintended consequences of a trade war. the trade group, solar panels getting the tax. they say that this year th

wilbur ross came out and said that -- part of the problem is that there has not really been any kindf strong dollar policy. we use it as a slogan, but since the early days of the george w. bush administration, nobody has paid a whole lot of attention to it. at a conversation with the former treasury there -- secretary, and he said we are fooling you, but we never said with a strong dollar is. the general idea is the currency a strong enough that you are not reporting inflation and not having to raise interest rates. at the same time, you don't want it so's wrong that you are cutting off exports, so it is a nebulous comment. when you say stuff -- currency traders can run with it. so when mnuchin says that, it gives it more momentum. add to your point, the chart showing what happened after bob rubin talked about the strong dollar being in the u.s. national interests. you see that against the yen, it appreciated so the trade deficit -- >> it narrowed. then, secretary benson said that andant to see a weaker yen a stronger dollar, and he got that, more than he wanted. is this what steve m

. >>> and we'll tell you what steve mnuchin and wilbur ross are telling reporters on the ground in davos. it's january 24, 2018. "worldwide exchange" begins right now. ♪ >>> good morning a warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost. let's get to the market picture. as we said in the open, the nasdaq and s&p closing at record all-time highs the nasdaq up 0.7% the s&p up 0.2% the dow was negative, but fractionally this morning pointing to a higher open for the dow and the s&p. just slightly for the nasdaq we got to the 2.6 level in terms of yields. just pulled back the last couple of days from that level, but rising again today 2.63 the yield on the ten-year holding nicely above the 2.6% level. dollar board for you, we lost about 0.2% yesterday the dollar is sliding significantly today. steven mnuchin did say on the ground in davos that a weak dollar is good for u.s. exports. it's partly that, but really just a continuation of the trend of a weak dollar we've seen recently in europe, we've got about a third of a percent move higher for the euro we had some composite pm

as you said he has a big entourage, he has steven mnuchin, the treasury secretary and wilbur ross, theary, andi wilbur ross, the commerce secretary, and i spoke to them at their press conference yesterday and they said it's not about protectionism or a trade war, is about rebalancing trade. he says that trade has been too asymmetric the way it has worked, so the disadvantage of america, he is saying i want more of a level playing field and that's what they are fighting for. the message today from donald trump when he speaks later at lunchtime will be, look, this can help everybody, let's have fairer trade, not trade wars, but some of that will mean extra trade tariffs and that's where the controversy comes. kamal ahmed, thank you. we are going to let you 90, thank you. we are going to let you go, he has an extremely busy day ahead. back to you, alice, in the studio. thank you, sally, and your guests kamal ahmed and karishma. let's take a look at some of the other stories making the news. smartphone sales have fallen in china for the first time ever, according to analysts who say a50 mi

she told me now. >> what about wilbur enroth? have you heard anything regarding the relationship between he and the president? >> very quickly, i spoke with a source in the administration earlier this morning who said they had not heard anything. this is the type of palace intrigue story we have to monitor. but right now there isn't any suspicion he is on the outs. he is still scheduled to attend davos with president trump later this week. >> thank you, kevin. we are awaiting the senate vote to keep the government funded through february 8, and then the house has to vote as well. then it will make its way to the president's desk, and he will sign it, and the government are not reopened, all that to come in the coming hour. third period -- this is bloomberg. >> this is "bloomberg markets." i am scarlett fu. >> and i am julie hyman. stokes are not the only part of the market of record levels. u.s. home prices are also soaring to new highs, surpassing levels seen during the housing bubble of 2005. one money manager who correctly con

he loves wilbur. thinks he's doing a great job and has been a strong advocate for the administration. >> he loves wilbur. who doesn't? white house press secretary sarah huckabee sanders pushed back yesterday on a report the president has lost faith in with you ber ross partly because he keeps falling asleep in meeting. and that he'll never again trust the 80-year-old to be his killer negotiator. today "the washington post" blew the whistle on ross in a tweet for being a no show at his davos panel this morning on global manufacturing to which 91-year-old former congressman john dingell replied somebody go wake him up. to be fair, his propensity for dozing off is not just for meetings. he was caught cat napping during the president's speech. in his defense, he was up pretty late the night before. ♪ >>> a quick reminder now about a story that is not the biggest story of the country. the president of the united states allegedly had an encounter with an adult film actress. while his newborn son was 3 month

the screen writer, michael beber or wilbur, whatever.e goes tiffany haddish can mispronounce my name anyway she wants. >>> there were other interesting reactions. chrissy teigen put john said i can't talk blank about any nominated movies so i will simply say get out and i tonia should win everything. also, one of the highly nominated movies sucks. oh, are we talking about "the shape of water"? because i might agree with her. it's a love story with a sea monster. >> yeah. >> so, it's ripped from the headline. >> there has to be something to it. >> yeah. >> she doesn't fall in love with a sea monster. >> when you should have swiped left. "the shape of water." >> here's something you probably didn't know. oscar nominee for best animated short, adding to the list of things he can do and he is the tallest nominee in a tough category. a lot of firsts in the oscars. >> someone who might not be happy about his oscar nom, the director edger wright said he would get a nod and if he was right, he'd have to eat brussel sprouts. he is a man of his wo

as wilbur ross says, we can get into trade wars if we need to. at the same time, he's coming and saying, we'll make deals. talking out of both sides of your mouth. >> talk to me about how the president is being received. whether you're talking the founder of the world economic former, klaus schwab, or others, there is a main theme. when you have a president touting deregulation at all moments, how is it wedded? in an op-ed, it was put, while people in davos may not like how president trump tweets or speaks, they love his economic policies. >> yeah. by the way, he is the president of the united states. they're not going to snub him. that's not what they do. most leaders here are a little more traditional in the way they do things. the president got a warm welcome. i have people tweeting me saying, why don't you talk about the protesters, too? there are zero protesters. you can't get near davos. >> yes. we need to put in perspective, there are zero protesters -- >> you can't be here. >> -- not because people don't want to protest. >> totally right.

wilbur ross was part of the campaign, but gary cohn wasn't.ve bannon could be successful saying, me, the naturalist faction to the white house, i'm true to what i was and always was. but jared kushner cared about his business and his money, as did don jr. if steve bannon can create this line, and if he's correct, wouldn't that be a huge win for him? >> i think as you're alluding to, steve bannon has always been more about the cause rather than the individual, and that is president trump. the cause is a populist type of white house, and the more that that policy that is coming from the white house isn't all that populous, you could have a stand again steve bannon and say, i was against this from the beginning. let's go to the meeting at trump tower. that is significant, and we already know he ended up having a meeting with a crooked lawyer, but we know the interactions the trump team ended up having with russians and their intermediaries. whether it was that june 9 meeting, or whether it was don jr. in his direct tips to twitter. campaign offic

economicent trump's -- landed ined -- rossrce secretary wilbur is already underway. flex very confusing signals out of washington. us.oins chris, who do i listen to? commerce or treasury? >> the treasury is in charge of dollar policy and has been for some time. wilbur ross was trying to highlight there were two parts of steve mnuchin's comments on the dollar and it was not just one-sided. he did not say a weaker dollar is good for your straight, but he also said over the long-term, a strong dollar would reflect a strong u.s. economy. .hose are not new comments he said that last year and president trump also make comments that were bearish on the dollar. i think what is important is that the treasury secretary in a davosigh-profile forum in where he will hold meetings with political and business leaders around the world used this language that he had used before , that a weaker dollar is good for trade area it was a clear signal that this is a different approach than previous administrations. it started under the treasury secretary back in the 1990's. it is true that

i'll discuss that with wilbur ross moments away. dow jones industrial average getting a new all-time high yesterday. s&p 500 and nasdaq lower after declining technologies., but not the dow continues in uncharted territory. features look like this on the mixed performance yesterday looking among the intent of the dow industrials up another 40 points this morning. s&p 500 announced back also higher. major indices ahead of the ecb meeting of results from mario trotsky up five points for the cac at 500 points in the dax lower. we will bring you the ecb comments as soon as we get the tape. markets in the rat on a weaker dollar take a look at the dollar went down. international currencies another to see the shanghai composite coming nikkei average in hang seng lower. airlines taken flat on wall street. american, southwest, jetblue reported earnings "after the bell" along with caterpillar, good window into the global economy. we'll bring you those numbers as soon as they hit the wires are lots of earnings to tell you about. america on the

i just think -- wilbur ross, last thing i read about wilbur, i love, he was falling asleep during meetings. neil: 81 years old. >> i know. i like him. neil: would fall asleep here -- >> never. you fall asleep. neil: yes i do. all of america. >> all of america. you know what i like? i love it when my twitter patrols say we turned the channel when you come on! neil: apparently they don't. >> i notice ratings they go up. why is that? neil: i don't know. >> why is ralph saying you have to go. neil: a lot of anti-italianism. >> why is ralph wrapping me right now. neil: he has a headset, plugged into nothing. >> he is from staten island. neil: nothing wrong with staten island. >> that is what they say in staten island. neil: there goes the staten island demographic. thank you, my friend. sometimes when people get richer, depend who they are, you know, i don't know but this guy got a lot richer, and i'm saying it couldn't happen to a better guy but i'm telling you -- got 1.5 billion bucks. this guy used live in his car penniless. used to get liquor to get the free chips on the side. look at him n

we saw wilbur ross talking about the fact that nafta may be re-negotiated. maybe we're in a trade war after donald trump said we're not. we heard mnuchin talking down the dollar. something treasury secretaries don't do. may be some merit in it, but they generally don't do it. i stopped scaramucci and said, anthony, what is the president trying to do when he comes and speaks here? he'll get here on friday. he'll make a speech thursday and friday morning. what is he going to do? here's what he told me. there seems to be a mixed message. the president is coming here and says he'll send a message of america first. the schedule we think the president will keep looks like a regular schedule. they're meeting with people, probably contemporaries from other governments and business leaders. what's the goal? >> i think the big message here is an america first strategy doesn't contradict a long-term global strategy and an integration into the global system. i think that's the biggest challenge that the media is having with the president. at the end of the day, what the

charles: that's me up imagine wilbur ross with some strong words with maria bartiromo.me economic purists are worried about what it means for america and the rally we have going on. david,ed the purists came -- the purists came out like crazy. don't talk about a terrorists, don't talk about a weak dollar. don't change up nafta. these are conservatives that want steady as you go. but these aren't the things that were necessarily promised to the american public. are these necessarily fair arrangements we have? >> the trade war has been raging for decades. suddenly we have a president who says we are mad as hell and we are not going to take it anymore. what he's trying to do is level the playing field. ' now you have president xi trying to position himself as a globalist. charles carolinaglobalist -- chp president xi is interesting, because president trump raised tariffs on chicken feed. but that didn't move the chinese. maybe the sales of washing machines is a step in the right direction. >> you don't have to be an economic purist, you just have to be one of the 260 ameri

the white house says that trump "loves wilbur." train with two sweetest up laments when -- two sweetest .- swedish people he disappeared in thailand two years ago. he turned up in custody in china. and embattled commodity trader was at a two-year high. a private conglomerate is said say theen, but sources two are not yet in contact. noble has been battered by losses. it is trying to reach a restructuring deal before a coupon payment due on january 29. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am yvonne man. this is bloomberg. ♪ rishaad: thank you. looking at the boj at the moment, perhaps coming out with topping.ion on rates looking at the background of tariffs being introduced and solar panels and washing machines by donald trump. we willrnment shutdown probably be talking about in three weeks, because it is a bandit. around 80have earnings reports out this week. -- secret aussie of global synchronicity of global growth. the tariff issues starting to play out, sola

domestic steel industry, causing long-term national security issues good chance that commerce, run by wilburs will recommend that trade section should be used to ban imports or slap heavy tariffs on it. you need steel to make weapons, industry is essential to national security. but good point to be made stuck in one-sided trade deal with china. we say fine. want to sell them our products always found it odd our government doesn't treat this as national security issue. during the korean war truman nationalized industry. we heavily subsidize agriculture because we need food both sides, democrats from labor, republicans from capital, want it. secretary ross urging him it finish investigation because of the spike of imports shows you how president trump could triangulate the issue and actually do something bipartisan wilbur ross founded international steel group. genuine national security concern because of chinese dumping. knows from personal experience what he's talking about. could be a textbook regulatory capture, private industry takes over from the market perspective, even better news comm

. >> does the president still have faith in wilbur ross? >> absolutely. he has 100% confidence in secretary ross. he loves them and think that he is doing a great job and has been a strong advocate for the administration and been a great leader when it comes to the train discussion -- trade discussion. the president was very clear back in september when he said that dreamers have nothing to worry about. is that still the case? >> i think we have been pretty clear that we want to find a solution on the daca program. we are going to hope that democrats are willing to work with us to make sure that we actually resolve this issue. >> there are a lot of dreamers in this country that do not know what their fate is. what is the white house's message to that population? >> i think they should protest on capitol hill. that is the place that held up this discussion. democrats forced a government shutdown. we lost 4 days over this process. the conversation should have been focused on immigration reform. if they had been part of the solution instead of part of the pr

a lot of questions also around that controversial article, really scathing article about wilbur ross and the criticisms around him >> i would suggest he falls asleep at meetings, he's not useful after 11:00 in the morning, and that more importantly, donald trump was very unimpressed with his negotiating skills in deals which would be a scathing criticism from one deal maker to another. >> right, but sarah sanders says the president has 100% confidence in secretary ross and loves wilbur those are her words. >> great leader. >> news there, the president will still apparently be going to davos later this week where maybe you will see him because that's where you're heading. >> see you there on wednesday, thursday, and friday >> it will be a big help surrounding michelle >> charmed, i'm sure, tyler. we're going to take a quick break. "power lunch" will be right back >>> shares of netflix hitting an all-time high ahead of the company's results. after the bell, all eyes are on subscriber growth with investors and analysts waiting to see if the company has been heart by price increases and

. >>> then at 8:00, wilbur ross will join us live.ou're watching squk sq"squawk cnbc at cognizant, we're helping today's leading life sciences companies go beyond developing prescriptions to offering subscriptions with personalized, real-time advice for life-long, healthy living. honey? you almost done? nope. get ready, because we're helping leading companies see it- and see it through-with digital. >> together, we can reclaim our great building heritage. we will build gleaming new roads, bridges, highways, railways, and waterways all across our land. and we will do it with american heart and american hands and american grit. >>> president trump in last night's state of the union joining us now for america's path to rebuilding, the ceo and president of snapon. what was your tax rate last year >> 31% >> the tax bill will reduce it to -- 21%? >> no, not 21%, because we have different operations outside the united states and inside the united states. we will announce that at our earnings call next week. i won't announce it today. but the

. >> does the president still have faith in wilbur ross? sarah: i spoke with the president this morning. inis 100% confidence secretary ross. he loves wilborn thinks he has been a strong advocate for the administration and has been a great leader when it comes to the trade discussion on steel, aluminum, and certainly his involvement in trade across the board with the administration. asked the president was there in september when he said dreamers have nothing to worry about. president was very clear in september when he said dreamers have nothing to worry about. is that still correct? sarah: we have democrats are willing to work with us to make sure we resolve this issue. >> a lot of dreamers are sort of living on pins and needles not knowing what their fate is. what is the white house message to that population? sarah: i think they should protest on capitol hill. democrats are who forced a government shutdown by being unwilling to fund the government. we lost four days over this process, the from conversation should've been focused on immi

president including treasury secretary mnuchin, secretary of state rex tillerson, and commerce secretary wilbur ross. there are also planned meetings with british prime minister theresa may and israeli prime minister benjamin netanyahu. >> he heads to davos as trade tensions are running high. the tpp is back on that trade deal, remember, but not for u.s. just as president trump restricts asian imports, trump ditched the transpacific partnership a year ago. the remaining 11 pacific nations have forged ahead without the u.s. japan, canada, mexico and others say their new trade deal will help combat rising protectionism. there's concern that the u.s., a longstanding leader in global trade, is turning inwards as others preach america first. >> i'm defending american companies. they've been badly hurt from harmful import surges that threaten the livelihood of their workers, of jobs all over this country. >> trump signed an order slapping tariffs on foreign solar panels and washing machines to help u.s. companies. that could likely hurt some consumers. americans buy washers from other countries. a ta

who was ascendant last year, navarro, peter navarro, wilbur ross. wilbur is in davos. who is not? >> year ago he was announcing a travel ban. neil: yeah. i could never picture him doing this. >> you're saying globalists are winning? no they ascendant in the administration. we don't know if they're winning. he had mnuchin talking down the dollar. >> right. >> and wilbur talking up a trade war. we don't know how is going to work out in policy maybe it will all be rhetoric but seems like the globalists are winning, isolationist, nationalists like steve, steve is gone, bannon, they're losing. the tax cuts are interesting. here is the one thing we have to recognize with the tax cuts, except for this network where you and i neil, repeatedly talked about how the corporate tax cut, if it gets to 20, 21%, plus the deregulation how that would be such a boon to business, the mainstream media downplayed it so much. neil: this is one thing the media was right on though, it was disproportionally tilted to the corporations. >> my point is -- neil: now they have this curse of riches and they can'

commerce secretary wilbur ross made some headlines yesterday when he said trade wars are happening every single day and u.s. troops, as he put it are just starting to gear up. on this very set earlier this morning when he spoke with maria bartiromo, the commerce secretary said it is not that he feels there will be a race to the bottom, but he also clarified by saying reality of it is there are trade abuses happening every day. >> when i meant by this, every time someone violates trade rules that so me is act of war. dumping steel is an act of war. dumping aluminum is act of war, dumping anything. forcing technology transfers, same thing. that is what i had in mind. reporter: back to the president. he is at that dinner right now with european business leaders that will wrap up his day once he is done. he met with israeli prime minister benjamin netanyahu and british prime minister theresa may. tomorrow he has two more meetings with the presidents of rwanda and switzerland separately. then of course, trish, 8:00 eastern, 2:00 p.m. in the afternoon president will give the widely anticipated

says the, wilbur ross u.s. will fight harder to protect its exporters. joining us is bloomberg international economics correspondent. it fair to say in spite of what the administration says it wants to do, lots of trade with lots of different partners? >> that is something that they say. we don't know how they feel about it. they don't want to not do trade. it is good for the economy, but whether they have a way to do it correctly is open for debate. the administration in a very with position the thinking of most mainstream economists. wilbur ross thinking trips are on the way gives the world the impression that the u.s. might be readying for a trade war. the rest of the world has been picking on the u.s. for some time, but it is steve mnuchin's comments hitting traders attention today because it has been a long time since the u.s. actively wish its currency its currencyhed was weaker. 5174. lloyd bentsen was treasury secretary in the early days of the clinton administration. he said the yen should be stronger. the dollar should be weaker. you can see wh

lower.taking it it may have something to do with commerce secretary wilbur ross'comments in davos around trade that has spooked investors. we see a dip in the nasdaq. some biggest losers in the nasdaq, relative to a percentage performance, american airlines and texas instruments down more than 10% -- 7%. texas instruments beat estimates, a mixed quarter, sales outlook is dragging. apple and intel is lower. apple down 1% after someone said the company may have to lower its march outlook. that seems to be dragging down shares with intel down in somebody with texas instruments. , not a see across assets career risk on or risk off picture with the 10 year yield up for basis point and read and haven bonds selling off. there could be a bear market for bonds as ray dalio said. steven mnuchin saying a weak dollar benefits the u.s. of 4% -- upthe vix 4%. vonnie: trade rhetoric heating up. shery: coming up, the bears are here, ray dalio says the bond market should -- could face its biggest crisis in 40 years. ♪ ♪ shery: this is bloomberg markets. i am shery ahn. vonnie: i am vonnie quinn. ray dali