he's saying that about afghanistan and sending wilbur ross to figure it out.hard to tell for sure but it looks like the white house is sirius about this and acting on it and it's almost nowhere in the news. i'm not sure why that is. but hold that thought. lligence.. ...it's a supercomputer. with this grade of protection...it's a fortress. and with this standard of luxury...it's an oasis. the 2017 e-class. it's everything you need it to be...and more. lease the e300 for $569 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. year with the new sleep number 360 smart bed. it senses and automatically adjusts on both sides. the new 360 smart bed is part of our biggest sale of the year where all beds are on sale. and right now save 50% on the labor day limited edition bed, plus free home delivery. ends saturday! you're searching for something. whoooo. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if... ....there was a single site... ...where you could find the... ...right hotel for you at the best price? the

he's saying that about afghanistan and sending wilbur ross to figure it out. sure but it looks like the white house is sirius about this and acting on it and it's almost nowhere in the news. i'm not sure why that is. but hold that thought. don't let dust and allergens get between you and life's beautiful moments. flonase outperforms the #1 non-drowsy allergy pill. it helps block 6 key inflammatory substances that cause symptoms. pills block one and 6 is greater than 1. flonase changes everything. >>> top american diplomatic position for afghanistan an pakistan is called the special representative for afghanistan and pakistan. it was the top position for that part of the world in american diplomacy until june. there was no announcement about this at all, but in june the diplomat who was holding that position, laurel miller, she learned without warning that the state department was shutting down that office. without making a public announcement and without telling anybody, including the staff who was work in that office at the time. joining us now is laurel mill

commerce secretary wilbur ross will be on bloomberg daybreak tomorrow at 7:30 a.m.out, including china. joe: have a great evening. this is bloomberg. ♪ >> you are watching "bloomberg technology." press reports and eight-year-old girl was killed and at least five people injured today when it slammed into a pizza restaurant east of paris. officials say the act was intentional. the driver has been arrested. signed antrump executive order to launch a trade investigation of china for the alleged theft of u.s. technology and intellectual property. the order gives the office of the u.s. trade representative the authority to consider the probe. a news conference is underway in after president oj opened anhe d investigation. the president also called out white supremacist for the role. there had been backlash for his initial failure to identify hate groups by name. the man accused of running into protesters will remain in jail until he has an attorney. the judge declined to set bond at the hearing today for james fields who faces second-degree

if i had him here i would ask him the question, why did he vote for wilbur ross if you thought you were for free trade? >> one of the things he does mention is the president's tweets and the president this morning is saying i'm going to keep tweeting, 110 million people want the truth out there basically. his republican colleagues on capitol hill have not always been quite so down with all of the online talk. listen. >> i don't really respond to tweets. >> about the president and his tweet -- >> i don't read that stuff. >> jeff flake says that is part of the problem, republicans who don't respond to the president's tweets, he has this line where he says, it's like fz noah were to say if i spent my time obsess bg the flood i would never get anything done. >> i found that piece actually convincing and take your points about his votes, but i don't see the political -- if i'm trying to be cynical and look at the political calculation behind that behind monetary selling books, this doesn't help him. he's going to be -- guarantees a well funded primary challenge and the bit that resonated mos

the secretary of commerce, wilbur ross.applause] president trump: small business administrator, linda mcmahon. [applause] president trump: and from the purely political world, a friend who did such an incredible job with his beautiful wife at the inauguration, senator. thank you. thank you, roy. [applause] president trump: the governor is here, who is doing some job. thank you, governor. special. lieutenant governor parson, thank you, lieutenant governor. and our great members of commerce, i want to thank you all for coming. there are so many. i asked the governor, should i announce them all question mark there are so many. i am glad they are here. my friend for a long time, and somebody who liked me from the beginning and i like him. billy long. right? right from the beginning. where is blaine? good. thank you. representative jason smith. thank you for everything, jason. representative ann wagner. good job. and we have so many more. anybody i forgot? everything ok? good. i got it. thank you. i appreciate it. to the congres

gary coleman and wilbur ross. you know what you basically have this kind of combination i mean let's be honest when you have a combination of military industrial corporatism well that is fascism but that's what's been going on in washington for the last you know thirty years forty years this is like meeting of corporatism and bashes him and clearly continuing the afghanistan war is what they want in terms pretty much giving it to him. last night's speech signaled a major shake up in the long lasting war in afghanistan during his prime time policy speech the president that when the sixteen year battle but offered little detail beyond increasing troops and lifting military restrictions the call to arms also sparked anger and dismay among the president's core supporters who have all but lost hope for the non interventionist policy as they tried so hard to avoid under a clinton presidency are chasing down dollars arya joins us to report on not only how his actions contradict his previous promises but also threaten to

again which remains to see what that means but then we also see if it's our commerce secretary wilbur ross who has said the t.p. ph should be the basis for an after renegotiation of transfers if it partnership which was the the most terrible deal that that. could not receive a majority in congress and then donald trump withdrew from those negotiations saying from the deal saying that it was the worst agreement ever so so we see this internal division we and it will remain to be seen what and what's very worrying at this point is that what we need to see to know in whose interests this is going to be negotiated is going to be the large corporations or is it going to be the people we need to see what is being negotiated we've been demanding transparency for years and unfortunately the negotiations started today the same closed process the same five hundred corporate advisors who have access to the text while the public are locked out have been influencing the negotiations and we have not and in fact they've doubled down on the secrecy they didn't even have any even a little bit of stakeholde

lea: one of the things i heard people talk about including wilbur ross in the "wall street journal" yesterday saying our trade deficit with china is $350 billion. where do you see this going? do you see this something that will be implemented and a policy that will help us in the big picture and our balance? >> our trade deficit will be there and eat into trump. i think we'll see a deterioration in trade relations. we have problems with the chinese in their cyber attacks. north korea is driving this. that $347 billion up in is only goods. when you add in the services it's more. lea: we have seen china become more aggressive in an economic and military way. they are building airports on islands. tell us how that can play in. >> the chinese have been supporting the north korean ballistic missile program. the north koreans have ballistic missiles that can reach the united states as far as chicago and maybe even as far as this city. they are not helping anything, so therefore this is going to mean that trump is going to say these cans can't be kicked down the road anymore. we need to do this, and

address north korea because that is where the comments coming from people like commerce secretary wilbur rossr. if the chinese do not play ball to address this 33-year-old to tater -- dictator of north korea with his brazen attempt to have a nuclear weapons program, that could pose more geopolitical risks. the president today speaking publicly saying he does not think north korea should mess with long -- guam with their missile launches. i think as this continues to develop, you notice what we have seen on the domestic policy front emerge on the foreign policy front where the president is using fiery rhetoric where his top officials are being more constrained in their rhetoric. haset reaction, yes, there been an increase in market volatility predictions. while markets have get somewhat, they have not dipped significantly so far on the developments in north korea. people are apprehensive about them. caroline: we saw a stabilization in the fear gauges. brilliant reporting. thank you for joining us, kevin cirilli. a vc a good time to be startup in america. the barometer for private tech firms in

secretary of commerce wilbur ross.usiness administrator, which is a very large business, linda mcmahon. and from the purely political world, a really great friend that did such an incredible job with his beautiful wife at the inauguration, senator roy blunt, thank you. thank you. where is he at? thank you, roy. the governor is here, who is doing some job, thank you, special. lieutenant governor parson. thank you. and our great members of commerce. i want to thank you all for coming. so many, i was ask iing who els representative sam graves. representative vicky hartsler who has been terrific. my friend for a long time who liked me from the beginning and i liked him, billy long. right billie? right from the beginning. . representative jason smith. thank you for everything, jason. representative ann wagner. hi, ann. good job. and i don't know, we have so many more. anyone i forgot? right? everything okay. good i got it. you remember more than anybody. thank you, i appreciate it. and to the congressmen and women, we appre

especially as we try to decide how important each individual, specifically gary cohn, steve mnuchin, wilbur rosstration and providing progress needed on the economic front >> you know, the stories, ever since the tragedy in charlott charlottesville, a lot of industry leaders and people on wall street talked about the idea that president trump needs to have competent, stable people around him many people, wloerhether or not agree with some of the views out there, some adults in the room have been viewed positively by industry >> like corporate america and wall street. >> gary cohn is one of those people it's an important story to watch develop. art cashin says he is an integral faigure in this whole trump administration. >>> my pick is in project syndica syndicate. it's titled the lost lesson of the financial crisis this is allianz's chief economic adviser, a decade after the start of the crisis, advanced economies still have not decisively pivoted away from a growth model overreliant on lick kidity and leverage. first from private institutional and then from central banks. they have yet to make

maybe for wilbur ross. gerri: hector, is that right? >> no, it flows from the top.m the president. >> really? >> i hear the president talking about small business all the time. so they will take their orders from him. but on all of these issues, looking you know small business is the engine of the economy. 2/3 of net new jobs come from there. gerri: amen and amen. >> most businesses involved in international trade are small businesses, over 200,000, about 97% of all businesses but they only represent 30% of the trade. >> for the border adjustment tax? >> no. >> donald trump actually, they toyed with that for a while. gerri: but they're not anymore. it is really off the table. >> you never know, it is never really off the table. gerri: charlie, when you look at this, what does it tell but future direction of economic policy? clearly more globalist. >> yeah. gerri: what would you say about tax reform and other elements? >> i think it's a positive for tax reform, steve bannon cared more about the middle than he did about cutting taxes for large corporations and things

north korea because that is where the comments are coming from, people like commerce secretary wilbur rossy could matter. if the chinese don't play ball to address this 33-year-old dictator, kim jong un, of north korea, with his brazen attempts to have a nuclear weapons program, that really could pose more geo political risk. that said, the president today speaking publicly saying that he does not think that north korea should at all mess with guam with their missile range or missile launches. i think that as this continues to develop you'll notice what we've seen on the domestic policy front emerge on the foreign policy front where the president is using fiery rhetoric while his top luntz, top cabinet officials, are being a bit more constrained in their rhetoric. and market reaction, yes, there's been an increase in market volatility predictions but that said, while markets have dipped somewhat they have not dipped significantly. so far on the developments of north korea. people are apprehensive about it, though. >> certainly we saw a bit of stablization today. brilliant reporting and gre

. >> completely agree, when you see those interviews with wilbur ross, he doesn't focus too much on theeficit >> still ahead a round up of the top stories including the continued fallout between big business and president trump stick with us. "worwi ehae"ilbelddexcng wl right back i love you, couch. you give us comfort. and we give you bare feet, backsweat, and gordo's... everything. i love you, but sometimes you stink. soft surfaces trap odors. febreze fabric refresher cleans them away for good. because the things you love the most can stink. and plug in febreze to keep your whole room fresh for up to 45 days. breathe happy with febreze. . >>> ceo's rebuke president following his response to charlottesville. cnbc has exclusive insight into how the biggest names of business turned their backs on the president. the latest on the fallout straight ahead. >>> and the big money impact how the dramatic turn of events at the intersection of wall street and washington is impacting your investment. it's thursday, august 17, 2017, you're watching "worldwide exchange" on cnbc. >>> good morning wel

. >> if he does a press conference with wilbur ross after a nafta negotiation, you would be more concernedthe commerce department opened an investigation on wl whether paper imports from canada are being dumped on the u.s. the probe was prompted by a complaint from a paper company in washington state. >>> in corporate news, uber's new ceo has some plans for the ride hailing company dara khosrowshahi saying he hope forgs hopes for an ipo in 18 to 36 months and he looks to turn around uber's culture, which has been plagued by harassment, and other things >> still a lot of seats to fill. one is done. plenty more to come. >> you had to know who the cfo was first. >>> walt disney is reportedly preparing significant budget cuts at its television group this will include staff reductions and restructuring the majority are set to be at the abc broadcast network, abc news and local stations. the cuts will represent 10% of the unit's annual costs. shares just positive this morning. >>> time for top trending stories. instagram is the latest victim of an internet hack attack they say a flaw in the syst

of the cabinet, wilbur ross who is the commerce secretary writes in the pages of the wall street journal, "other trading partners are putting up barriers to imports from america." the tradeou following situation, you might be interested in that story in the opinion section of the wall street journal. russia's position near the nato border has u.s. on alert. they plan to send troops to the eastern edge of nato territory at the end of the summer. it is one of the biggest buildups taken by president andimir putin which is exercise in intimidation which recalls the most ominous days of the cold war. the troops are conducting in westernneuvers russia. you can read more about that story this morning. to learn more about it, you can go to our website, www.c-span.org. mikein lawton, you'd -- in lawton, utah. what is your confidence level in this white house came? team?te house caller: i have almost quit washing the news, and i have watched life. it is the same thing. i used to watch that moaning -- morning joe or whatever, but it is the same thing, every day. up on thisstant beat white house and

it's not just that wilbur ross, commerce secretary, is a billionaire, it's the notion that wall streethey are two goldman sachs guys, very talented guys straight out of goldman sachs. they're able people, but his base doesn't like that at all. this could teach them that, right? they could focus on this because it's such a pop culture story. >> one of the things that's interesting about the bannon departure also is bannon was privately talking about there being a raise on taxes on the wealthiest, i think people who made more than $5 million a year, and that was slapped down by a lot of republicans. but one wonders what the breitbart folks call globalists, but if, as you point out, if more and more of the president's base sees this woman as exemplifying what's really going on in the trump white house and the tax reform policy comes out from the house and senate and it actually favors wealthy people, who knows what will happen. >> that's a great question, and one of the things we were talking about earlier is whether or not the president will come to this woman's defense. she's someone ma

you know, actually he did bring in people like wilbur ross, gary cohen, rex tillerson, mattis. these are very accomplished people and they're serious people. the would isn't going to stop. someone needs to address the issues we face. i hope that intelligent responsible people in a sense have a duty to stay on whatever the moral issues might compel them to leave. >> there's talk and there's action. so far we're hearing a lot of talk. what should republican law makers do in your estimation? >> i don't know what they can do necessarily other than did he announce the president for his inexplicable conduct. think if the president had any sense he would resign. i don't see how he can govern. if he had any sense we wouldn't be having this conversation. >> you have defended the president again and again. if he's watching right now, what would you say to him? >> i think he's let down tremendously the vast majority of his supporters that want nothing to do with the at right and the neo nazi movements. i think he harmed the country tremendously and for the good of the country -- whether i

secretary of commerce wilbur ross.usiness administrator which, by the way, is a very large business, i will tell you that, linda mcmahon, friend of mine. and from the purely political world, a really great friend who did such an incredible job with his beautiful wife at the inauguration, senator roy blunt. thank you. thank you. thank you, roy. the governor is here, who's doing some job. thank you, governor. special. lieutenant governor parson. thank you, lieutenant governor. and our great members of commerce, i want to thank you all for coming. there's so many. i was asking the governor and roy, i said, do you think i should announce them all? i have so many. but i'm honored that they're here. representative sam graves, representative vicki hartsler has been terrific. my friend for a long time and just somebody that, he liked me from the beginning and i liked him, billy long. where's billy? billy. right, billy? right from the beginning. blaine lootkimeyer. where's blaine? thank you, blaine. representative jason smith.

there's a little bit of a trump bump if you believe that wilbur ross and elaine chao can help secureand some of the constructive elements. this is like many things, a lot of grandiosity. >> got to go, good to talk to you. thanks very much. we'll be right back. fine. because i get a safe driving bonus check every six months i'm accident free. because i don't use my cellphone when i'm driving. even though my family does, and leaves me all alone. here's something else... i don't share it with mom. i don't. right, mom? i have a brand new putter you don't even know about! it's awesome. safe driving bonus checks, only from allstate. sometimes i leave the seat up on purpose. switching to allstate is worth it. a penny it's ourr back to school one cent event at office depot office max. notebooks! one cent! rulers, glue and 12-pack pencils! all one cent each! hurry to office depot office max! ♪taking care of business i knew at that exact moment, whatever it takes, wherever i have to go...i'm beating this. my main focus was to find a team of doctors that work together. when a patient comes to c

inner party, if you will, cabinet members like steven mnuchin, like, you know, gary cohn, like wilbur ross secretary perdue, that have illustrated to us that they understand the challenges of american small business, that have given us an opportunity to bring our constituents and our members to meet with them, to talk about the issues. we want to get back to the business of you know, tax reform. melissa: right. >> immigration reform. health care reform. those are the things that my constituency of american small businesses are worried about, absolutely. >> i appreciate your point of view. i hope you come back in a month or something tell us if you feel it has improved. >> that would be great. melissa: we would love to check in with you again. thanks for coming on. >> thanks for having me on, melissa. cheryl: well america can't get enough of the solar eclipse. the president was onboard too today. did he just make a major mistake? we'll explain next. ♪ ... parodontax, the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and coul

wilbur ross has been on the protectionist side, again, another personal friend, but the president listensill listen to bannon believe me, they're going to be in touch bannon will be a loyalist. there's not going to be any war between bannon and trump but, you know, calmer heads are prevailing and i think regarding trade, let's investigate, but let's not take blanket actions i think they've got to get back on message, though here's my key point -- >> okay, you know that -- >> tax reform. >> whatever it means to get back on message, this white house has not been doing that. >> they're pretty far off message, i agree with you on that this has been kind of a lost week the odd thing is, congress is moving forward kevin brady, thae head of the ways and means committee would be doing heroic work on pushing tax cuts and tax reform, including his big thing at the reagan l reagan library this week the white house is pretty far down the path, too mnuchin and cohn and others, pretty far they're moving timetables are being set a plan in early september. increasing the debt ceiling in september. late s

secretary of commerce, wilbur ross.siness administrator, which, by the way, is a very large business, i will tell you that, linda mcmahon, friend of mine. and from the purely political world, a really great friend who did such an incredible job with his beautiful wife at the inauguration, senator roy blunt. thank you. thank you. where is he? thank you, roy. the governor is here, who's doing some job. that you know, governor. thank you. special. for lieutenant governor is here. thank you, lieutenant governor, and our great members of commerce, i want to thank you all for coming. there's so many. i was asking the governor and roy, i said, do you think i should announce them all? i have so many. but i'm honored that they're here. representative sam graves. representative vicky hartzler, has been terrific. my friend for a long time and just somebody that he liked me from the beginning, and i liked him, billy long. where's billy? billy. right, billy? right from the beginning. blayne, where's blayne? good. thank you, blayne.

wilbur ross, jeff sessions. as you said the president is expected to come out with his glasses and the first lady, they will be looking at it momentarily. a lot of excitement in d.c. about it. are people talking about something different? >> this is most amount of folks i have seen outside of the west wing. >> reporter: reporters, staff members, where a lot of staff work. it is august, trish. normally nothing is going on this town. it is today. trish: that gives a people a chance to lighten up i guess, to look at something different. we'll go back to the president as soon as he steps out on the balcony to look at the eclipse, blake. shortly i'm here on set with former cia officer buck sexton, former chair of dnc, scott bolden good to have you both here. >> good afternoon. trish: he will outline his strategy for afghanistan tonight. do you expect anything else will be addressed, buck? >> i think president trump is in a moment where he can really look and take a much broader view what is going on in afghanistan th

secretary of commerce wilbur ross.ause] small business administrator, which by the way is a very large business, i will tell you that, linda mcmahon. friend of mine. abu hamzalinda mcmahon. political world a great friend who did such incredible job with his beautiful wife at the inauguration, senator roy blunt, thank you. thank you, roy. governor is here, doing some job, thank you, governor. special. [applause] lieutenant governor parson. lieutenant governor, thank you. thank you, lieutenant governor. and our great members of commerce, thank you all for coming, i was asking the governor and roy, you think i should announce them, i have so many? i'm honored that they're here. representative sam graves. [applause] representative vick hartzler has been terrific. my friend for a long time, just somebody that he liked me from the beginning and i liked him, billy long. where is billy? [applause] right, billy. right from the beginning. blaine lukemeyer. where is blaine? thank you, representative jason smith. thank you for eve

commerce secretary wilbur ross, i think, and ivanka looking there. >> that's great. >> reporter: thisis what i think is interesting about this. no matter who you are, no matter how powerful you are, where you are, this is bringing everybody together. >> you can't watch a total eclipse by yourself. i know it's going to be a spiritual event if you do that, but it's for the community of people over here, all the energy of the people behind us. that's fantastic to share this event, once in a lifetime event with all these people. >> reporter: we almost have clear skies overhead. oh, wow, look at that. everybody really excited now. it was great before, what about now? it's almost an eerie -- we're seeing some lightning flashes just past the bridge, but yet we have clear skies above us. >> you must have brought us incredible luck. it was mostly overcast through the morning. but look, the totality will come out through the edge of the cloud. we may see the corona. >> reporter: have you ever seen anything like this? >> i've seen partial eclipses. the eclipse occurs on the earth every 18 months

was a 100 day review going off after the xi jinping meeting that was supposed to happen between wilbur rossi jinping and his administration, that would open up doors, we didn't even hear an outcome of that review. >> right, donald trump has in the meantime since that meeting with xi at mar-a-lago concluded or close to concluding that china will not be able to do what he thought or hoped or imagined they might do to restrain north korea. so donald trump's initial substance was quite unconventional. he linked explicitly linked trade policy to the north korean problem. that's unusual. a lot of people said you shouldn't do that because really what you're going to do is give china potentially all of these concessions on trade and they all sort of pretend to play along, do a few little things and slap north korea around very gently and then you'll give the u.s. a worst trade deal. donald trump seems to have come the full circle back to where he was on the campaign. we broke this story last night about what he's planning to do with intellectual property. the big issue here isn't so much ip theft,

. >> wilbur ross is usually next to him. >> not this. >> russia's prime minister m medved medvedev, responding saying quote, the hope of improving our relationship with the new american administration is over. the prime minister also tweeting the u.s. establishment fully outwitted trump, the president is not happy about sanctions yet he cannot but sign the bill. >> this gets weirder and weirder. >> if russia was looking to do one of two things, get president trump elected or rock our democracy, win-win. loss for us. >> let's bring in barry, served as special assistant for george w. bush and barack obama as senior director for defense policy and strategy on the national security council staff and currently a senior vice president and director of the brent scocroft center. >> my heart is mind is open, what could be the president's motivator in this tweet? >> well, i think it's pretty obvious, he wants to deflect responsibility but i think in terms of the politics of this the executive branch and clearly in our system of government has vast leeway to set policy and conduct international relations

he been replaced by commerce secretary wilbur ross.learly after charlottesville, the response from the white house, what you're seeing now is intense pressure not just from outside the white house, not just the business community, not just republicans like senator bob corker, but large portions of the american public. lisa: i want to turn to you and get a sense for where this leaves president trump. he was a key ally. it came to views on a lot of things. what does it mean for president trump's future in the white house? >> it leaves him very isolated. as kevin was saying, we have seen republican lawmakers distance themselves from andident trump, ceos councils disbanding because they didn't want to be seen with president trump. and you see his poll numbers falling. he just doesn't have a lot of allies. and someone like steve bannon leaves the white house, he will have even fewer allies. it is just increasingly isolated. the reason it matters, the more isolated he is, the harder it will be for him to get things accomplished. they don't h

this is an idea supported by peter navarro and wilbur ross.as doing this a few months ago, ag secretary purdue walked in and said president trump, let me show you an electoral college map. let me show you the farm counties that voted for you and how important things like mexico and canada are. what in the world is president trump talking about here? >> well, i think he's bluffing. barack obama also promised -- >> say that again. he thinks he's bluffing, our president. you just said that like no biggie, he's bluffing. what? >> that's how the markets react to this. they don't move when he makes these nafta threats. it would be a negative effect for stocks. >> the peso is already falling in light of these comments. >> there are other things we can do with mexico. the peso fell immensely on his election. there are other things that we can do that would be negative economically for mexico without pulling out of the agreement. to your point about the farm states map, i think politically it becomes untenable for him to pull out of the agreement. i ex

weeks ago when wilbur ross and peter navarro in his office saying, nafta, whatever, the ag secretaryad to walk into his office and say can i show you an electoral college map? these are the farm communities that voted for you. pull it together. >> i think we'll see this more and many in part because he said it, he said, look, during the election, during the campaign, he played to his base and made statements that he said appealed to them. and he has clearly had to pull back on so many of them. and yes, people come into his office all the time. the good news, and i'm going to give the president some credit. i do think that people come into his office and say we can't do it that way and i think more often than not he says, okay, maybe i'll change my mind. >> fine. but dave, does he not have to change his mind and offer a solution? when you look at tpp, where it failed the most was president obama did a terrible job explaining it and the story got away from him and then he lost it. here we are now in 2017, what does the president have to do? trade matters. >> right and it's difficult to

wilbur ross has talked about rules of origin being unfair, too much china content coming through, andand also that some of the labor laws are not up-to-date with the modern trade agreement. all of that is basically inflationary. any renegotiation or a back out, that is inflationary for the consumer, bad for bonds. that is really what we're looking at. what i'm hearing is that it doesn't look like trump really has the power to do this swiftly and soon, and they've got to renegotiate. on the other hand, the dangers of a bad renegotiation could hurt the economy. what is the president's effect on the markets in the short and medium term? initially, there was market euphoria that drove stocks up. stocks are still at record highs even when the president hasn't achieved anything on his agenda, so it is clearly not him driving these rallies. william: it is a good question. the easiest way to view the presidency until now, this administration has been able to say, congress is a check on his powers domestically. historically, in the postwar period, you've been able to say that the presidents wh

when i was speaking to him, wilbur ross was on the phone.o as roger stone said to me earlier this week, his influence with this administration is not dead and his great line to me is, i still intend to play myself on "saturday night live." >> he characterized the profanity-laced conversation with ryan lizza as humor rouse and joking with you, right? >> right. he did. and, you know, obviously i've been -- i've gotten to known anthony over the last months, years and i've been talking to him for other reasons, for other long-term projects that i am doing and he does -- when he talks even to me, there are a lot of expletives in his speech and part of his schtick is i'm a guy who grew up in long island and i'm proud of that. i put myself through harvard. i think that obviously what happened to ryan lizza and he -- you know, it was a learning curve. and he -- as he said to me -- >> for sure. >> -- i made a mistake. i own this. >> it's interesting, gloria, because his communications plan for the white house. >> right. >> which was dated june 30th w

gary cohn, steven mnuchin, wilbur ross, along with missouri senator roy blunt who's a republican the state's other senator is democrat claire mccaskill. she's up for re-election in a state that trump won big and conservatives have been pressuring her to support tax reform her response is that this could be one area where she could find some common ground with the president. so melissa, republicans do feel they are playing offense on this issue. ylan, thank you, ylan mui in d.c. i think a lot of investors are not pricing anything in when it comes to tax reform. let's say we get it. let's say it's not permanent it's for a set amount of years, ten years. let's say we don't pay for it. what happens with the markets? >> i think it's a positive at the margin it's all about the delta right now as you pointed out, there was huge expectation of fiscal policy opportunity that existed. i think that has faded of late and so if you get something instructive, i think markets are going to react favorably to that it's in the face of coming into some very important meetings, as it relates to the debt

and wilbur ross will be toning daybreak america talk about china's trade practices.oining us secretary ross will be joining us at 7:30 a.m. eastern time. this is bloomberg. ♪ bloomberghis is markets. time for options insight with the julie hyman. julie: joining me is jim's turgor of an km holdings and we have been watching the vix. it was up and has come back down. we have been looking at seasonality, g #btv 5422 on the bloomberg. vix this yeare versus the average movement in the vix overtime. tend to see a climb in volatility in august, going into the fall. this year it is on the bottom. it's been a little bit different this year then typical. what are some of the things you're doing to get some opportunities out of what you see here? to take out oft that is seasonality. it is a graph we showed a few weeks ago to make the point that historically, in the decade we equity this graph, volatility tends to bottom in sort of mid july, slowly ramp up into the fall, and as most people know, we have some of our largest shocks between august and november. you have to consider

think they've necessarily been the worst trade deals in history, maybe they weren't the best but wilbur rossabout this over and over again that we need to have a look-back, see and go along and change them as the times change. it's good we are focusing on this, i don't know if they're the worst of history. dagen: president trump focusing on the agenda sending a series of tweets already this morning. here was his first one. heading to washington this morning, much work to do, focus on trade and military, #maga, make america great again and then luther strange from the state of alabama has endorsement. he's strong on border and wall. military tax cuts an law enforcement. and then just moments ago the obstructionist democrats have given us or not fixed some of the worst trade deals in world history. i am changing that fast. he's heading back to washington, d.c. after the horrific attack in charlottesville, virginia that left one woman dead, 19 others injured. let's bring in former florida congressman lieutenant colonel allen west. colonel, he's tweeting this morning but does not even mention ch

secretary of commerce, wilbur ross.small business administrator, which by the way is a very large business, i what i you that, linda mcmahon, a friend of mine. [applause] , from the purely political world, a really great friend who did such an incredible job with his beautiful wife, at the inauguration, senator roy blunt. thank you. thank you. [applause] thank you, roy. greitens, is here. thank you, governor. lieutenant governor parson. lieutenant governor, thank you, lieutenant governor. and our great members of congress, thank you all for coming. there are so many, i was asking the governor and roy, do you think i should announce them all? but i'm honored that they are here. representative sam graves. representative the key parts to, who has been terrific -- representative vicky hartzler, who has been terrific. my friend, billy long. where is billy? right billy? right from the beginning. luetkemeyer. thank you, blaine. representative jason smith. jason, thank you for everything, jason. representative and wagner. high,

. >> wilbur ross was on the phone. earlier this week, his influence with this administration is not dead. and his great line to me is "i still intend to play myself on saturday night live." >> he characterized the profanity-laced conversation with ryan lizza as humorous and joking with you. >>. >> right. he did. and i got to know anthony over the last months, years. and i've actually been talking to him for other reasons, further long-term projects that i'm doing. and he does -- when he talks even to me, there are a lot of expletives in his speech. and part of his shtick, his salesmanship is i'm the guy who grew up in a blue collar background in long island, and i'm very proud of that. i'm the guy who put myself through harvard. i think that obviously what happened with ryan lizza, you know, he, you know, it was a learning curve. and as he said to me, i made a mistake. i own this. >> it's interesting, gloria, because his communications plan for the white house which was dated june 30th was leaked today. and it's actual

wilbur ross has postponed a final decision on canadian softwood imports after investigations into allegedng. his departments as a final determination will come no later than november 14. he remains hopeful of a negotiated solution that satisfies the concerns of all parties. theda has said it was sue u.s. of trade talks failed. officials from countries are meeting in sydney to define the tpp. the three-day talks, aimed to reach an overall agreement to be signed in vietnam. president trump hold the u.s. out of the pact soon after taking office. he says his america first policy -- meanwhile, president trump is preparing for one of the most important sales pitches, getting voters fired up about rewriting the tax code. there is precious little to sell at the moment. they sit questions about changes, tax brackets, and business level, have yet to be addressed. steven mnuchin has predicted the bill would be passed by august. now, he will not commit to completing it this year. -- benchmark is suing them, duping uber into letting him control three seats on the board. he wants to prove he was boarde

julie: in washington, we have wilbur ross. there is jeff sessions. everybody.brings the nation together, this u.s. eclipse. julia: wait a long time for the next one. 1918 was the last time. julie: 2024. from new york, this is bloomberg. julia: a specialist. ♪ from bloomberg world headquarters in midtown manhattan, this is "bloomberg ."rkets commodity markets are closing in new york so let's take a look at some of today's big movers. let's start with crude oil, which is now dropping the most since july 5. the opec technical committee is sent to see july compliance from opec and non-opec companies at 90%, which is below the 98% in june. accelerate, and it should start bouncing off the bottom. in metals, we have a rebound in gold today as concerns over the tension in north korea seem to be resurfacing to some extent. the u.s. and south korea have started military drills today. since we talked so much about gold and oil, let's take a look at the chart that shows the gold wti crude ratio. we have seen gold rally this year 11% compared to a 10% slump in crude. that m

you were commerce secretary, how do you think wilbur ross is doing right now?l: i think he is doing fine. he is lacking people within the agency to help them. but they put their markdown that the commerce department will be negotiating -- renegotiating nafta. nafta is 24 years old. improving it, updating it, is needed. there is a challenge that if it did not get improved the way he wants it, he might do away with it. that is a bold statement that could have an enormous impact on our economy, the north american economy overall. betty: thank you for joining us, bill daley, former white house chief of staff and former commerce secretary. you can get a roundup of that story in more detail your day going in today's edition of "daybreak asia." subscribers go to dayb on your terminal. it is also available on the mobile anywhere app. customized settings to get the news you care about. this is bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. slowing recovery from a housing scandal, they insisted there are no more skeletons in the closet. s

wilbur ross is going to be there as well as other key republican lawmakers and republican candidates for office. so that will be an attempt to see if they can move past the events and their vision is. >> i wonder if we got a foreshadowing of steve bannon's take reform? he was a puj proponent of it earlier you heard he was on board. or at least a border tax he was part of that nationalist movement within the administration think that border tax was dead in the senate. did the white house jump on board and read the tea leaves and realize what was going on anyway i'm unclear if that was a ball move about ott the hill. you'll see him and mick machine continue responsibilitying together on monday it will be a chance. >> thank you joining us now on the cnbc newsline is sara fagen sarah rjs ra sara, welcome. >> thank you steve bannon caused a lot of discourse with his colleagues. love him or hate him, he was not a force of dialogue within that building removing him is a positive step and puts the chief of staff more in charge of the teak. >> how does the message get back on message and what

need to do something about that >> how is that any different that's what we have been hearing from wilbur ross if those things don't happen, we'll bring in the wto and how is that any different being aggressive and starting trade war >> we have international rules of law and trade trump can file -- the u.s. identifies what the problem is and craft a solution and implement it that may set up a trade war because the united states would be abandoning its commitment and showing the rest of the world that wto is not worth anything but it really is worth quite a lot. >> and they don't stick with the commitment there i don't understand your big focus on wto when they're supposed to increase and get rid of all the issues. we brought plenty of cases against china and some of those cases honored the rulings and the united states have been brought up more than anybody else for violating >> that tells you all you need to know about the world trade organization because by any series measures, the united states by far is the world's most opened major economy to trade. the fact that the rest of the world is