with take that up with commerce secretary wilbur ross. stay with us. we'll coming right back. - [voiceover] this is an urgent message from the international fellowship of christians and jews. there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - this is a fight against time. what we're dealing with is coming out, meeting someone who's 85, 90 years old, can't get around, has no food, has no water, and just wants to give up and die. and that's where we come in. we are called to comfort these people, to be a blessing to their lives. - [voiceover] for just $45, we'll rush an emergency survival package to help one desperate elderly person for a month. call right now. - [eckstein] call the number on your screen. - in ukraine, there's no supper network. they don't have food cards or neighbors that come in to help. they're turning to us because they have nowhere else to turn. - [voiceover] your gift is a life line to help these elderly jewish holocaust survivors, help them to live out their final years with dignity and

amy: and commerce secretary wilbur ross. he was known as the king of bankruptcy. main area is going in and finding bankrupt companies, turning them over to make a profit. in the bakken, many of these small companies had been suffering before dapl was completed and were going into bankruptcy. a lot of companies committed to make money off of this, including wilbur ross' companies. he is also heavily invested in shipping. the shipping of natural gas of petrol chemicals. his companies are set up to partner with energy partners.. also to infrastructure convert that oil and natural gas into petrochemicals to make plastics, and then ship that product overseas, including through wilbur ross' companies, would contract that are already signed for china. --t the companies are saying all of this work we are seeing an rise for climate justice, one of the end goals is to see a reduction in fossil fuels for use of energy and use of transportation. well, the companies are saying this, too. they are looking forward to petrochemicals. exxon mobil alone is predicting or invested in

. >> wilbur ross is a great example. think we should say people with deep business experience should not go to washington. we want them in washington, they are talented people. the argument is how do you take money out of the equation so voters are certain good decisions are made. wilbur ross has a vast portfolio and is 80 or so years old. he has been in scores of companies. it is almost inevitable that something he will touch in the administration could be attached to something he had a business stake in in his past. you should just trust someone to do the right thing. when they haven't been -- when they still have investments, that goes out the window. same with that's a davos. they came in with lucrative portfolios of actively traded companies or privately held concerns. in ross' case, he owned shipping enterprise that had ties to the chinese government. and another company that did steel transactions with companies based in south korea. can heeasonable to ask, negotiate any trade deal with south korea or china uninfl

and wilbur ross seemed to indicate that they've done that.ticism from people that want to do it but think we're doing it the wrong way, i wonder if they're addressing that right now. do you get the feeling -- does china know it's not just the united states now? >> right and so there are actually a lot of people ear, as well, in the business community saying they agree with this approach in fact, i was talking with the u.s./china business folks. they were saying that they believe china does have to be -- the issues of ip and technology have to be addressed with china, but they just don't agree that tariffs are the way to go with this i've heard many times before that people say that the united states should collaborate with its neighbors. but also there were some interesting surveys that had been coming out from the american chamber of commerce as well as the u.s./china business council. so the chamber of commerce said three out of four companies now they've surveyed have said they expect to be hit by this latest round of tariffs two out of th

tim: wilbur ross is a great example.t say people with deep business experience shouldn't go to washington. we want them in washington. these are creative, talented people. the argument is how you take money out of the equation so the voters and the public is certain good decisions are made? wilbur ross has a vast portfolio. he is around 80 years old. he has been in scores of companies. it is almost inevitable something he will touch in this administration could be attached back to a business link in his past. you could say the stuff of years ago could be left aside and someone could do the right thing. when they still have investments, the argument goes out the window. this also applies to betsy devos. they came into the administration still retaining lucrative portfolios of actively traded companies or privately held concerns. in ross's case, he owned a shipping enterprise that had ties to the chinese government. there was another company that did steal transactions with companies based in south korea. it is a question

lou: wilbur ross, secretary of commerce, thanks for being with us, sir.reciate it. >> thank you, lou. good to be on. lou: good to see you. >>> up next, the president expressing his frustrations with attorney general jeff sessions saying he actually doesn't have an attorney general. we take that up next. james holstrom joins us next. stay with us. lou: a lot going on in the witch hunt and all of the corruption in the fbi the department of justice, the intelligence commute. last night congressman go mer was with us and he put the spotlight on something that a lot of people didn't recall or even know about james comey's political past. here he is. >> i did not know until last week, i saw an article in 2003 where comey was bragging, yeah, we was a communist until i became whatever i am now. i never heards that. comey the communist. who knew that. amazing. lou: that tbree article the congressman referred to from new york magazine which comey says this, quote, i voted for reagan. i moved from communist to whatever i am now. i'm not sure how to characterize myse

>> just looking at you >> wilbur ross is a person that we listen to for many years who's right aboutars and sodas. the businesses that we are putting tariffs on, if you raise the price of luggage, we'll buy the luggage elsewhere. the sourcing is rapidly moving away as you said yesterday 18 or 24 months to get it out there is a small price to pay right now. i think we would if it gets to 25, the discourse would be different. >> until the new year then it goes to 25 and 25% if there is no improvement >> yes >> now that's problematic. >> focus on the number because clearly we import a lot more from them than they import from us are there other things that chinese can do we sat here and talk about this for the last six to nine months, a symmetric responses. >> do we not expect to go that route? >> we expect it. >> the president is not sensitive to the companies that make a lot of china in the country. they're the ones that sacrifice. we heard talks that maybe apple won't be on their accessory. i think the president is saying hey listen guys, you are not going to make as much money as chi

we take that up with commerce secretary wilbur ross. stay with us. we're coming right back. guys. today we're here to talk about trucks. i love trucks. what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these. >> lou: breaking news tonight, senator claire mccaskill says she will oppose judge kavanaugh's supreme court confirmation. the senator says her decision was made as a result of the ongoing allegations against the judge. it's based on his positions "an avalanche of dark, anonymous money that is crushing our democracy." i suppose she would include her own vast wealth in that. by the way, i don't think there is a soul in missouri that will be surprised by the senator's blind partisan decision. good going, senato

commerce secretary wilbur ross says this could be the costliest hurricane ever, with economic damage upwards of $180 billion. to put it all into perspective, hurricane katrina topped $161 billion. so you're talking about the costliest hurricane ever. hurricane harvey, the big one last year, topped $125 billion. sandy was somewhere around 75 billion. joining me on set, moody's chief economist john lonski. do you think it will be that bad, $180 billion? >> i'm willing to guess that is going to be on the high side. look at harvey, houston, texas, one of the biggest cities in the united states was struck hard by that hurricane and flooding all that rain and that was 125 billion. i think 180 -- trish: getting a little carried away. >> if i make a forecast that will be over. trish: these things do take their toll on these communities and as much as some economists, you may be in this group, you may like to say eventually it all comes back. even though challenging at the time it comes back with a big push. it very difficult for individual that have to rebill their homes, some have to pay fo

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lou: wilbur ross, secretary of commerce, thanks for being with us, sir.ciate it. >> thank you, lou. good to be on. lou: good to see you. >>> up next, the president expressing his frustrations with attorney general jeff sessions saying he actually doesn't have an attorney general. we take that up next. james holstrom joins us next. stay with us. fact is, every insurance company hopes you drive safely. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com start winning today. ♪ as moms, we send our kids out into the world, full of hope. and we don't want something like meningitis b getting in their way. meningococcal group b disease, or meningitis b, is real. bexsero is a vaccine to help prevent meningitis b in 10-25 year olds. even if meningitis b is uncom

lou: wilbur ross, secretary of commerce, thanks for being with us, sir.ciate it. >> thank you, lou. good to be on. lou: good to see you. >>> up next, the president expressing his frustrations with attorney general jeff sessions saying he actually doesn't have an attorney general. we take that up next. james holstrom joins us next. stay with us. stay with us. - [narrator] at athene, we think it's time for the financial world to stop acting the same old way. in today's complex world, you need a partner that is driven to provide you with better solutions for these challenging times, one that is willing to disrupt the industry, and break free from conventional thinking. (thudding) we are a different kind of financial company. we are athene, and we are driven to do more. walking a dog can add thouswalking this many?our day. that can be rough on pam's feet, knees, and lower back. that's why she wears dr. scholl's orthotics. they relieve pain and give her the comfort to move more so she can keep up with all of her best friends. dr. scholl's. born to move. you ma

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commerce secretary wilbur ross watching the storm closely, telling fox business the potential hit to the u.s. economy could be upwards of $180 billion. as businesses and farms shutter and cargo ships are diverted from the area. we'll bring you more of his exclusive interview along with live reports on the ground in north and south carolina. the very latest on the storm path from the fox weather center. melissa: first a check on markets. dow ending in positive territory third day in a row, led higher by shares of apple, ibm, 3m. nicole petallides on floor of new york stock exchange. good day down there, nicole. >> good day to you, melissa and to you, dave. apple, ibm intel up there, technology helps lead the way on the dow jones industrial average. the major averages, you see up arrows across the board. the dow as you noted it is up 147 points now really holding on to some good gains today. we have several names hitting all-time highs. microsoft, nike, american express and visa. now we have to turn our sights on hurricane florence. you can see some of these names moving higher through

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commerce secretary wilbur ross. plus an exclusive interview with the head of thailand central bank. a conversation with warren buffett. leaders in italy say they won't support the eu's next budget. >> the eu is a place where things are negotiated slowly, but they want action right now. ramy: this is bloomberg. ♪ ♪\ ramy: this is "bloomberg best." let's continue our global tour of the week's top business headlines with new twists in the online -- in the ongoing negotiations with brexit. >> the u.k. and european union pushing back the deadline for a brexit deal. both sides aim to finalize the divorce terms by mid-november the latest. another indication negotiators are struggling to make progress, despite the u.k.'s assurance to speed up talks. what are the reasons this deadline is being pushed back? >> the reason both sides are not able to agree on a divorce deal is northern ireland. they have a commitment between southern and northern ireland, and they can't seem to make it work. they were supposed to agree something at the june counsel, and now looks like they will not be able to ag

our commerce secretary wilbur ross says the u.s. is trying to give china an incentive for constructive new york time talks and he signed about. well i'm not so sure because as far as i know it but as we know there were supposed to be talks in washington this week there and now all of this than these that the season comes out with him is going to take effect on september twenty fourth so it seems that is a very short span of time and to try to achieve some sort of results and also the implied the explicit goal for something more to come in case that china decides to retire gets i'm not sure these are the best precondition to engage in a meaningful conversation with china not china involved to retaliate yet it imports only one hundred thirty billion dollars worth of u.s. goods could it go to the bond market to strike back. they could do a lot of things that depends on much we want to take of course they import the less than the u.s. but then if the u.s. is putting it out of ten percent increase to twenty five percent of the chinese ma

. >> wilbur ross went on to say he's surprised by market reaction. would like to make something clear. wilbur ross is lying to the american people. check yourself, mr. navarro. john: you got to hate videotape. in the old days you could say whatever you wanted. i want to go to our market panel. gary b. smith and jonas, i created a felony in tv yesterday, you guys were cut short on your time. i apologize to you both. gary, i want to start with you on this trade war. this potential trade war worried me. it does not seem to be worrying the markets. does it worry you at all? >> it does not, and i will say, you can probably go back and find videotape where i was not worried for the simple reason that i think people thought of this as a trade war back in the smoot-hawley days in the '20s but now there are so many work-arounds. first of all, i think we have been saying you got to collect the taxes which is not easy. countries can shift through other countries, avoiding the tariffs. there are so many work-arounds to this. besides, our economy is, what, an $18

you just mentioned wilbur ross.e president said so today, the treasury secretary, head of the department of homeland security. i could go down the list. overwhelmingly, just about the entire cabinet has done so. when you talk about this anonymous op-ed, it is attributed to a senior official within the trump administration so while we say that 33 senior administration officials have come forward already today and said it's not them, keep in mind, there are agencies all over washington that have a handful if not more of senior administration officials with them so while 33 sounds like a big number, and it is, we don't know if it's all encompassing or if that person has yet to be contacted or not. in any event, members of the trump administration are being asked about this today. that included the secretary of state mike pompeo. this followed him all the way to india, where he is abroad on a foreign trip. watch him. >> i find the media's efforts in this regard to undermine this administration incredibly disturbi distur

wilbur ross was explaining how the secretary of commerce , but they have drones in the air, submarines and some sort of marine drone in the ocean now bringing data about this storm and having satellite technology that didn't exist a few years ago and bob mcallister is here in the room just a few minutes ago back when hugo came in 1989, he and governor campbell were sitting at the statehouse trying to get as much information as they could. there wasn't that much available and they made a decision based on jim gandy. it was an excellent weatherman. things have changed a lot and we can predict a lot but this particular storm is unpredictable. things have changed so many times butwhereas prepared now with this team that we have, we are as prepared as anyone in the country and perhaps even more so . >> would anyone here be able to address that prison situation? have any of them that evacuated? >> nothing has changed since yesterday for the same reasons as yesterday. if you look at the present buildings, there's only one i believe that is in the evacuation zone and that's right on the edge o

wilbur ross is saying no one feels it.ave to say when our reporters are in the field and they're speaking to farmers, to manufacturers around the country, they have said we have been in a terrible trade situation for years, even if we get some short-term pain, it's worth it. >> so i think that we have some background inflation that's increasing anyway. it will be difficult for us to tease out the numbers as to what's due to trade. that said, secretary ross's point feels silly to me. if nobody's going to feel the pain, what is the point of the tariff? the point of the tariff is to make products -- >> but hold on, he's saying the consumer isn't going to feel the pain. >> the point of a tariff is to make a product more expensive so the consumer prefers american-made goods instead of chinese-made goods. in the consumer isn't feeling the pain, what is the point of the tariff? >> because he's saying it's going to be so expensive for china to bring those products here they're not going to do it. >> they're not going to do it beca

or as commerce secretary wilbur ross puts it, they will run out of bullets. john: at this trade fair, chinat was showing oflatest gadgets. it is all part of a plan tote crea world-beating high-tech economy, a plan that the u.s. tariffs are designed to stop. for policymakers here in china, everline in this latest next and extremely long list of u.s. tariffs will read as proof of a real threat, the very economic model on which the country's success is being built. exports and state backing for industry. the response has been swift. >> china has no choice but to retaliate in order to firmly fend our legitimate interests and the global free-trade order. john: in 2017, china imported $130 billion worth of u.s. goods. the first round of tariffs this year hit $50 billion of that trade. today, almost all remaining imports, $60 billion worth, were target. while china may have few options left, m' u.s. businesses don' think the trump tariffs are working. >> we had a survey recently. only 6% are considering moving back to the u.s. so the u.s. is hoping for job creation.

huge, china will soon run out of products on which it can impose tariffs, or as commerce secretary wilbur ross put it, they will run out of bullets. at this trade fair today, china was showing off its latest gadgets. it is all part of a plan to create a world—beating, high—tech economy, a plan it believes the us tariffs are designed to stop. for policymakers here in china, every line in this latest and extremely long list of us tariffs will read as proof of a real threat to the very economic model on which this country's success has been built — exports and state backing for industry. the response has been swift. translation: china has no choice but to retaliate, in order to firmly defend our legitimate interests, and the global free—trade order. in 2017, china imported $130 billion worth of us goods. the first round of tariffs this year hit $50 billion of that trade, and today, almost all remaining imports, $60 billion worth, were targeted. but, while china may have few options left, many us businesses don't think the trump tariffs are working. we had a survey recently. only 6% currently were

i want to thank secretary wilbur ross, secretary alex acosta, director mick mulvaney, and administrator linda mcmahon. they have been working along with ivanka and a group of people, a large group of people on the workforce development. it is making a big difference because we have companies moving into our country like probably never before. in many cases, they are moving back. they left years ago, and they are coming back because they are -- what part of the action. our country is hot and successful and people want to be here. we have created more than 4 million jobs since the election with more than 200,000 jobs created last month alone. more americans are employed than ever before in our country, in the history of our country today, as of today, we have more people working than they had ever had working before. middle-class income reached its all-time high, that just came out, that number. and reached at by a lot. jobless claims are at their lowest level in nearly 50 years. almost 3.9 million americans have been lifted off food stamps since the election. , beautiful number. there ar

huge, china will soon run out of products on which it can impose tariffs, or as commerce secretary wilbur ross was showing off its latest gadgets. it is all part of a plan to create a world beating, hi—tech economy, our planet believes the us tariffs are designed to stop. for policymakers here in china, every line in this latest and extremely long list of us tariffs will read as proof of a real threat to the very economic model on which this country's success has been built, exports and state backing for industry. the response has been swift. translation: china has no choice but to retaliate in order to firmly defend our legitimate interests, and the global free—trade order. in 2017, china imported $130 billion worth of us goods. the first round of tariffs this year hit $50 billion of that trade, and today, almost all remaining imports, $60 billion worth, were targeted. but, while china may have few options left, many us businesses don't think the trump tariffs are working. we had a survey recently. 0nly the trump tariffs are working. we had a survey recently. only 6% currently work considerin

told wilbur ross, you are past your prime.s defense secretary told him, we are doing this to prevent world war iii. after trump left the meeting, mattist was particularly exasperated and alarmed. he questioned whether woodwards are a dem operative. i have never detected ever since that he was a liberal democrat even slightly. >> i will let bob discuss his political views whatever they are for himself. it is fair to say if you look at the array of his work, dem operatives are not the first words that come to mind. american foremost investigative reporter, a little more of an accurate description. >> i keep thinking -- look, i think saturday was a spiritual moment. this country recovered something of their soul. this knowledge that the president of the united states is surrounded by people who think he is an idiot, they think he is ignorant. he doesn't have the knowledge of a twelfth grader. >> sixth grader. >> all kinds of stuff to prevent nuclear war, is that going to affect any voter? >> i think it is already baked in. >> bak

. >> we have had wilbur ross tell us the president wants to see how the chinese react to more pressure. this is a negotiating style. >> absolutely. throughout this year, what we have seen as the president likes to increase pressure. he thinks these tariffs give him leverage. there is certainly a faction in the white house that sees these tariffs as a long-term adjustment. these are a new normal. these will help rebalance the trade relationship. trump in a president place where he feels happy about either outcome. either the tariffs raise the leverage and you get a better deal and you might have reducese or the tariffs the deficit with china. there may be some consumers to get hit along the way. they had the consumer yet but if they hit it can they avoid having consumers -- tariffs hit what we buy at the market? there are 6000 products on the list and it is already starting to hit some things that we look at buying. i just bought a new but for my daughter. i got ahead of the tariffs there. that may not be the case for other people. concern, is what comes afterwards. if you are last week

is the worst job he's ever had the book says that the president looked at his commerce secretary wilbur ross and basically said he was passed as prime very insulting to jeff sessions we know he's got a big problem with his attorney general he goes on twitter and talks about it almost every day it seems but apparently he called just that again harsh words not from me but like allegedly from the president he called him mentally retarded and a dumb southerner and medicine parent he said that the president has the understanding of a fifth or sixth grader but again medicine is now denying this also hearing from the president's past lawyer denying these allegations but in the woodward book it says that he basically said that trump couldn't has to be for special counsel robert mueller because he'd be an embarrassment and he'd end up in an orange jumpsuit of course he's denying that as well right now. so pretty explosive stuff and i guess all of president trump supporters would label this you know many will a fake news as the president on many things what impact does it have though that this book is

didn't have a good transition team in place, didn't have people saying, you know, it really bad if wilbur rosstsy devos has this stuff. it's as much a problem with ethics as it also is a problem in bad management. >> another pair of leaders in trouble, this time in the corporate world. we start with elon musk, where in crisis, again and again. >> and the chinese internet attentionnt, global on its leader, revealing problems. >> this is "bloomberg businessweek." ♪ >> welcome back to "bloomberg businessweek." i'm jason kelly. >> and i'm carol massar. online atnd us businessweek.com. >> and on our mobile app. here's a shocker, carol. was in the news this week. elon musk tweeting about response time. also, the most bullish analyst downgrading the stock. >> and they lost another high-ranking finance official. have suggested that elon musk needs another pair of hands. run theto help him company. >> liam has a simpler solution. needs a new board, period. >> lots of people think, the strain is showing. stories aboutn the live kind of toke on the joint in that recent podcast. but what i'm concerned abo

and on the other side, you have a wilbur ross, peter navarro, they have won the fight, it seems.hey have got the ball. they are moving quite quickly on nafta, or at least trying to. tariffs are the tools they have decided is going to be the most effective in trying to bring about your reshaping of the trade deals. carol: washington is coming on on a big week on fed rates. this week's cover story is an in-depth look at jay powell's first months in office, a story that leads the politics section. jason: the fed chair is not supposed to be in the politics section, but we can think donald trump put him there. -- for putting them there. his tweets test the principle of central bank independence. carol: it does. one of our veteran fed watchers joins us now. >> unlike janet yellen, he has made a concerted effort to go on capitol hill and pound the caucus, as he puts it. he has visited about -- in the first six months, he has visited or spoken to about 45 lawmakers, roughly. that is three times the amount that his predecessor did over the same timeframe. behind this, of course, is our tw

david: we had wilbur ross say he is waiting to see how much china suffers. michael: remember, the $50 billion came in two tranches. he could break this $200 billion into a number of different tranches. this could be carried and stick. this could give the chinese incentive to negotiate. going back to nafta. when are we going to hear about canada? michael: they never predict anything is going to happen until the last minute. the issues on the table are not as intractable as when you are starting from the beginning. it could take longer. we focus on tetley, we think a deal should come immediately. they have a month to work on it. it could be next week or the week after before we see any real movement. they have to get together first. david: taking their time seems to be the watchword. michael mckee, great to have you with us. coming up, the president claims credit on a strong economy. whether he is right and what difference a democratic house could make. we speak with mitch daniels, the former governor of indiana next. indiana next. this is bloomberg. ♪ david:

any news out of wilbur ross at noah, you will get -- noaa.r it real fast. >>> this is another new high for the day, 26,163. >>> executive producer of "60 minutes," jeff fager has been fired. it was the straw that broke the camel's back. >> i was that reporter, since jeff fager publicly referred to our exchange today, i want to be transparent about it. fager in a text said to me, quote, if you repeat these false accusations without any of your own reporting to back them up, you will be held responsible for harming me. stuart: faithfer has been hired. all rise, napolitano the judge is here. is this firing justifiable? >> doesn't appear to be on basis of that text. basically saying i want you to know what you're saying is harmful to me, so you better back it up. if you don't you will be held accountable to me as anybody would trying to protect their reputation. the straw that broke the camel's back, there must have been other reasons for the firing and this is the most recent of them. there were allegations him. i don't know if those allegations

wilbur ross is on the record this one have an effect on the consumer, but looking at the list it is hard to see that. mike: this round will start to have an effect on the consumer, although they did exempt some this one have an effect on thethings like a big sellersr christmas time before the midterms -- big sellers for could miss time. before the midterms, they do not want to anger mothers with those taxes on goods. but there are still some things on there, like bicycles, those will go up. bike helmets exempted. what we are starting to get into is intermediate goods, the things brought into the united states to be assembled into other goods. or passed through the u.s. on their way to other countries to be assembled and it will affect supply chains, that could be were the real impact is. julie: walk us through it. back to the beginning, what is this supposed to do to the chinese? will it suppressed demand for them, or end up raising prices for the end consumer in the united states? mike: both are correct. it is hard to model this, because of the way people react to tariffs. we have seen

york billionaire would never be elected president of the united states and unless you believe wilbur ross's accounting, maybe that's still true. >> use thiyou think you have a you ever decide to do it? >> i don't know. that's up to the public to decide. i can just tell you, i've never been shy about what i believe. i got elected mayor by not asking people where they wanted to go, and then following them, i got elected because i said these are the policies i think we should have and here's why and follow me. and that was for three elections, people seemed to be very happy with what the city did in 12 years. and i think you can do that at a federal level. requires being able to put together people who are not in the paper every day for scandals, but people who are experts in their field. and that you give -- you tell gait to th -- delegate to them and attract them and aju judjudicate the is and i think you can do that and i think -- i have always believed that americans respect people who say what they believe even if they don't agree with them. and my experience in going around new york with

wilbur ross said it's not going to impact the economy overall.said, let's get your reaction. >> it's very, very serious issue, particularly for agriculture but also from the point of view of flooding, it will have impact on export-import, since we import more than we export probably that will be a little bit of a help to the economy but it will slow down shipping. it will raise the cost of the transport because the vessel is on water more days, it'll have a lot of implication. maria: your take, mark. >> so i think it's isolated. i think it's limited because even $200 billion if that's the economic impact overall in our overall economy, if you put it, drop in the bucket, terrible for the locals there. when you look at businesses like the airline industry and how they are canceling flights and how they will have to eat some of revenue and take losses there, it's going to impact certain industries and certain businesses but i think overall this is something we've drawn accustomed to. we had last year hurricane that is hit florida, et cetera, everybo