wilbur ross. get the latest. emma: the s&p 500 and nasdaq now in the red. the dow jones up only by put 1%. we have seen a lot of seesawing action. , half of the sectors in negative territory. is that the conviction in the market is missing in action as investors work on what is happening in the trade dispute between the u.s. and china. it's feeling a little bit like groundhog day. 500, over five days, each session we started with gains and struggled to hold onto those as the session has worn on. looks like we will see more of the same today. we are halfway through, so things could turn around. at the moment, it looks at we are headed for the downward. look at what is moving today and what is losing today. you've got the usual suspects, financials. this is retail in a bit of a slump today. allit is across the board, down today by more than 4%. analysts not really liking some of the growth and profit targets. look at the euro versus the dollar, falling today. david: on the return a, greg ferro is here in new york on the prosecutions that may pose president tr

gerry connolly: i certainly hope so because wilbur ross lied to the congress. he basically said look doj the department of justice made me do this. they were the ones who were pushing for it. we now know from email traffic. that's not true. he was the one pushing for it. and if you're so confident about the validity of this question of why it has to be asked why woutt soledad: are there your colleagues oe with this position that in fact the citizenship question should be added.look at behavior. if they're so proud of this. if they're so confident in the importance of this question why not have a public hearing about it. soledad: what would happen in your district in northern virginia? rep. gerry connolly: i represent probably almost 30 percent of my population is foreign-born. so this is a real issue it's not an abstract issue for my households and certainly a very great concern about ice about the policies of the trump administration with respect to immigration and immigrants. so i'm very concerned about the willingness of so many households to be cooperative

we are joined by special guest wilbur ross. you for joining us. we really appreciate it. >> thank you for having me on. >> i want to start with the opportunity zone. something maybe people haven't focused on. the president of the united states is focused on it. just yesterday he said we want to make a special effort to make sure we are directing federal funds and opportunity zones. ups talk about why they are so important to the nine states government. >> first of all what the opportunities owns are -- ourrtunity zones are particular parts of his state that are especially in need of support. it now encompasses approximately 9000 communities with a cumulative population of 35 million people. one third of whom are below the poverty line. it's a very targeted effort to bring capital investment into those areas to promote jobs and promote standard of living. the mechanism for doing it is fairly complicated in description, but pretty simple in outline. and here's what it is. if someone has an unrealized , they can do for that paymen

these are different views. >> i chose the byte that we heard from wilbur ross because we got a lot ofommunications when he said that people listen in terms of specifically the 18 months reference to the nafta negotiations and whatever it is called, afcm >> usmca >> that was quick. people are hearing that and go 90 days, is it enough time to get anywhere you did hear him say at least make reference, of course they're not going to have it all wrapped up there is concerns about that to your point you say walking back but others in the market are less kind. they'll say there is a history here of not being honest and not about the simplest thing the lack of truth telling makes it difficult to understand what truth is >> who >> by the president. >> we are getting tweets that are not being acknowledged by the chinese much less confirm. >> when one of their strategies, if they have not done anything ever against us. i was the major ceo yesterday, listen, we don't want to deal with china anymore so i mean they can keep on having niethese talks. we don't want to deal with them. >> there is a la

wilbur ross making comments and president making comments as well. and a bit more uncertainty as we heard that china has detained a second canadian citizen. s&p futures under pressure, down .3%. caution -- caution remains going into the last trading day of the week. site gains for the asx 200. morning we are seeing bhp billiton leading the gains so far but stocks and wellington are under pressure this morning. a little bit of christmas colors on the screen, some red and green coming through with a mixed start for asia. and downs we saw over the past four or five days, let's check on how asian stocks fared over the course of the week. the white house calling for china to do more to end the tariff war. what chinese leaders will say at next week's economic policy summit will be key as we wait to learn priorities of 2019. get a sense of whether policy measures have led to stabilization. we will get a read on retail sales, factory output and fixed asset investment from china. from japan, a pulse check of japanese manufacturers in the fourth quarter and a

wilbur ross, next. wilbur ross, next. stay with us.and i went to baghdad, iraq. we were transporting a bomb sniffing dog to the polling stations. we rolled over two anti-tank mines, it blew my humvee up, killed my sergeant. after the explosion, i suffered a closed head injury, um, traumatic brain injury, loss of a limb, burns to 60% of my body. when the doctors told me i reached my plateau, i did not want to hear that because i do not believe i have a plateau. so, i had to prove 'em wrong, which i am doing to this day and i will still do until the end of my days. i've gotten to where i am at because of my family. and, the wounded warrior project has helped me more than i can ever imagine. they have really been there to support me in my endeavors. my number one goal, basically, is to get close to where i was. i am more than ready to work hard to get to that goal. i am living proof to never give up and i will never give up. lou: joining me now, the president's point man and a lot more than trade policies. it's manhattan on christmas eve.

. >> that is for wilbur ross his team is putting together that report they'll have that report on steel and i look forward to seeing that you have to see what argument they decide until the report comes out i wouldn't want to speculate. >> with the fed actually let's open up to the audience. . >> maybe will come right back to the fed quick. >> inflation lately is running a little below the target so should the fed be raising interest rates at a time it begins missing the inflation target quick. >> i know the president has opinions but he did pick great people i would want to give them advice but when we simulated this last year and talked about right here on the stage what we saw of the economic models what happens you get a big supply-side investment boom that puts downward pressure on prices that decelerates the inflation so that's pretty much what the data look like. >> the fed is raising interest rates at a time that it is about to end the quantitative easing program what will be the impact on the financial markets and the economy with all of that coming out of the system quick. >>

wilbur ross, next. stay with us. i'm snow.to winter we go, the heavier i get. and while your pants struggle to support the heavier you, your roof struggles to support the heavier me. [laughter] whoo. [crash] and your cut-rate insurance might not pay for this. so get allstate, you could save money and be better protected from mayhem like me. mayhem is everywhere. so get an allstate agent. are you in good hands? ...starts with a december to remember at the lexus december to remember sales event. lease the 2019 nx 300 for $319 a month for 36 months. experience amazing at your lexus dealer. (♪light musical cords) for $319 a month for 36 months. this time of year, what do you give? when it's your extra concert, game or special event tickets to vet tix, you're giving our nation's service members and veterans an amazing experience they'll cherish forever. this holiday season, don't just give... vet tix. give something to those who gave. for more information on how you can make a difference right now, go to vettix.org. lou: joining me

commerce secretary wilbur ross. >> thank you. keep spreading the truth. lou: yes, sir.next here, the president says there are strong signals from china that they'll come to terms on a fair, balanced, reciprocal trade deal with america and stop stealing our technology and intellectual property. we take a look at how big the trade problem really is and some problems that are getting bigger by the day. >>> also, can congress come together to fund president trump's border wall? i said fund it. not a few billion dollars, no, no pittances. the full enchilada, $25 billion. we'll ask congressman andy big when we come back in just a second. second. not literal second. not literal comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customer

wilbur ross, next. stay with us. i am not for colds. i am not for just treating my symptoms...shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal. (tonand all thro' the house. 'twas the night before christma, not a creature was stirring, but everywhere else... there are performers, dancers, designers the dads and the drivers. there are doers of good and bringers of glee. this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. .. ♪ ♪ ♪ this holiday season, families near you need your help. visit redcross.org now to donate. lou: joining me now, the president's point man and a lot more than trade policies. it's manhattan on christmas eve. china encouraging signs about balanced tried and prospects with china. the president moving the need until that direction. >> the important thing is the chin

commerce secretary wilbur ross. >> thank you. keep spreading the truth. lou: yes, sir.next here, the president says there are strong signals from china that they'll come to terms on a fair, balanced, reciprocal trade deal with america and stop stealing our technology and intellectual property. we take a look at how big the trade problem really is and some problems that are getting bigger by the day. >>> also, can congress come together to fund president trump's border wall? i said fund it. not a few billion dollars, no, no pittances. the full enchilada, $25 billion. we'll ask congressman andy big when we come back in just a second. not literal a second, but you know what i mean. place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. lou: president trump today praised the efforts of china made since his meeting with president xi over the weekend. the presid

commerce secretary wilbur ross. >> thank you. keep spreading the truth. lou: yes, sir.next here, the president says there are strong signals from china that they'll come to terms on a fair, balanced, reciprocal trade deal with america and stop stealing our technology and intellectual property. we take a look at how big the trade problem really is and some problems that are getting bigger by the day. >>> also, can congress come together to fund president trump's border wall? i said fund it. not a few billion dollars, no, no pittances. the full enchilada, $25 billion. we'll ask congressman andy big when we come back in just a second. second. not literal all money managers might seem the same, second. not literal but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better

news exclusively from the white house is the commerce secretary wilbur ross. morgan bren nin here nen here al >> always good to see you. >> thank you. >> happy to have you here. the report we want to begin with from the wall street journal that china plans to scale back its made in china 2025 policy to give foreign companies greater access to its economy. there's that there's the idea that they're going to buy more beans. there's the idea that they're going to reduce tariffs on u.s. made automobiles these are all, i assume, encouraging steps in our trade negotiation with them but do they go far enough do they miss critical points about intellectual property, market access, and technology transfer >> well, the first thing i think they do is they prove that president trump was right when he announced his summary of the talks of president xi. you'll remember there was some controversy at that time, what president trump then said about reducing the tariff on auto, and that will help a lot and, in fact, interestingly one of the big beneficiaries of that is bmw. the

>> well, that's a question for wilbur ross, his team is putting together that report. they put together a report on steel, you know, and i look forward to seeing that report. >> what's the argument? >> you have to wait and see what argument they decide is the one they want to lean on on the report. i wouldn't want to foreshadow it. >> i want to talk to you about the fed -- actually let's open it up to the audience and then i can come back to the fed. questions? any questions from the audience? >> so inflation of late has been running a little bit below the fed's 2% target. it's preferred around 1.7%, 1.8% right now. should the fed be raising interest rates at the time when it's missing its inflation ta h target. >> i respect the independence of the fed. the president does, too. i know he has opinions but he picked independent minded people. when we simulated this year last year and then talked about our simulations here on the stage, one of the things we saw in our economic models of what happens to the economy after a tax cut is that you get this big supply side stimu

. >> that is a question for wilbur ross. >> so we have to wait and see. >> so now let's open that up. question? maybe i will come right back to the fed. and with the 2 percent target those measures so should the fed be raising interest rates at a time missing the inflation target? but then to pick and i wouldn't want to give them interest rate advice so when we simulated so one of the things of the economic model after the tax cut is the supply-side stimulus and then to put accelerating growth with decelerating inflation. that is what it looks like to me. >> with interest rates when it's about to head to the qe program what is the impact on financial markets on the economy from the monetary stimulus? >> and from. where interest rates where our market bearing. and then we have low growth. but if you have normal gdp growth and that we have gone back and you should expect to see that. >> with respect to normalcy. >> i don't want to give the fed advice but in with those policy rays and the economy i would expect them to be part of that. >> and with one of your favorite subjects i want to

wilbur ross joins us for a first on cnbc interview.nts just minutes away >>> storm clouds on the horizon. is a flattening yield curve or inverted yield curve signaling a recession? we'll get the latest >>> and altria is looking to acquire kronos we'll get into that as the second hour of "squawk box" starts right now >>> live from the beating heart of business, new york, this is "squawk box. >> good morning, everybody welcome back to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and mike santoli. andrew is off today. we've been watching the u.s. equity futures, they have been under pressure dow futures down by 118 points below fair value s&p looks like it would open down by about 10 points and the nasdaq by 46 here are the stories that are making headlines this morning. questions whether a u.s./china trade agreement will resolve the country's trade dispute long-term. we'll get you caught up on the latest and tell you how investors should approach this market >>>

president is considering a replacement for wilbur ross.overnment shutdown later this week, leading politicians on both sides say it's up to trump to solve the issue. >> president trump should understand, there are not the votes for the wall in the house or the senate. he is not going to get the wall in any form. u.k. prime minister theresa may will attack supporters of a second brexit referendum today as she expects to parliament white eu leaders rebuffed her summit last week. she accused tony blair of undermining her negotiations by pushing for a second vote and says it will be a catastrophic breach of trust. >> suppose we had another referendum. 152-48, but it was on the lower turnout. if there is another referendum, which i do think there will be, people like me will be demanding -- what does that end up? >> protested take place in budapest against the prime minister. thousands of demonstrators converged, demanding a free press. police used tear gas to keep protesters away from the building after officials refused a request by lawmakers

cabinet secretary wilbur ross accused of flouting ethics rules again claiming in a sworn statement to have divested of stock when in fact he held on to those stocks, and this hasn't happened once. it's happened twice. welcome to "the lead." i'm jake tapper. we begin with breaking news in our politics lead. it looks like the u.s. is headed towards a government shutdown the day before president trump leaves washington for his 16-day holiday trip to mar-a-lago, florida. right now the markets are reacting. the dow closing down 469 points, plunging as low as 679 points earlier today, and it's not just the markets on a roller coaster, of course. seems as though it had been communicated to senators that the president planned to sign the government funding bill yesterday after meeting with vice president pence. republican senator john cornyn told, quote, the president will sign that legislation but today the president himself told outgoing house speaker paul ryan he will not stein it. why? though speaker ryan did not use the word wall white house press secretary sarah sanders suggested the pr

many who consider him a financial force in his cabinet is the secretary wilbur ross. he is with us tonight with his insights on these volatile markets. also also, the d.c. swamp is awash with leaks, rumors and speculation about the robert mueller witchhunt. is it coming to a close? the special counsel may be tying up loose ends in the russia witchhunts. there are considerable leaks and rumors that the spec shall counsel will file a sentencing memo shortly in the case of michael flynn. what does all of this mean for their probe that's discussed in barren allegations of russian inclusion? to answer questions, attorneys gregg jarrett and mitchell are with us tonight. our top story, major markets off on wall street. the dow fell just less than 800 points. the s&p down more than 90 in the nasdaq down as well. they're measuring stocks falling $1 trillion in value today. the wall street dive communist china claims it will take action against the theft of intellectual property. whether china's declaration is any more than lip service to the united states remains to be seen. f

that will include secretary of state mike pompeo, secretary of commerce wilbur ross, secretary of labor alex acosta, secretary of transportation elaine chao, secretary of homeland security kirstjen nielsen, trade representative robert lighthizer, small business administrator linda mcmahon, advisor to the president, you ivanka trump, senior advisor to the president, jared kushner, and chris lavelle. -- liddell. this morning the acting attorney general signed the final rulemaking clear bump stocks are illegal because they fall within the definition of machine guns that are banned under federal firearms law. began, in which people in possession of bump return those items to an atf field office or destroy them by march 21. propertions for destruction will be posted on the atf website today. appointed tos been the u.s. senate and we congratulate her. she has been helping advance a number of the administration's priorities, including rebuilding our military and increased border security. the president applauds governor ducey for his swift selection and thanks -- for his service to the people

it is clear wilbur ross is not sure which way the president is going to go.he does, that would create an interesting new dynamic in trade talks, as we saw with the two canadians in china appearing to be detained. whether or not that is part of a bargaining chip. it also has some implications for other americans who might be traveling to china, executives, as well as for the legal system in the u.s. it would be fairly unusual for the president to step into what the administration had been calling a separate track of enforcement. ross said china viewed it as well as a separate issue from the trade talks. now the statements by the president are kind of mingling that together. hearing the former personal lawyer of president trump, michael cohen, is headed to prison for three years. i thought he would win some leniency for cooperating. what happened? joe: prosecutors in new york and wasjudge said that cohen rather selective in what he disclosed to the government in their investigation. his lawyers said he will continue to cooperate with special counsel robert muel

that will also include mike pompeo, secretary of commerce wilbur ross, secretary of labor alex acosta, secretary of transportation elaine chao, secretary of homeland security kirsten nelson, u.s. trade representative robert lighthizer, small business administrator linda mcmahon, advisor to the president you ivanka trump, senior advisor to the president jared kushner, and chris l. on another note, the president is was again for filling a promise he made to the american people, and this morning the acting attorney general cited the final rule, making clear that bump stocks are a legal because they fall under federal law. begins now,iod where those people in possession of bump stocks must turn them over to an atf field office or destroy them by march 21. instructions for destruction will be posted on atf's website. martha mcsally has been appointed to the u.s. senate and we congratulate her. she has been a partner in the house of representatives helping advance a number of priorities, including rebuilding our military and increasing border security. the president applauds governor ducey

. >> reporter: we had a bit of a difficulty tracking down in buenes aires this morning wilbur ross was on nbc emphasizing there will be a lot of work needed between now and this 90-day period, which we now know expires in january, in a couple of months from now. the congress secretary suggesting that this is really just the beginning of in process. here's what he said. >> when presidents get together, you're at a very, very high level, very broad principles of understanding. now comes the hard part, which is translating that into a definitive agreement >> so you heard wilbur ross getting his take that this will require a lot more work going forward to make it into a definitive agreement, just in the past couple of mon minutes the president put out a statement suggesting they will be that at those auto workers to meet with staff. we haven't confirmed they will meet with the president, the spokesperson saying the president will meet with executives, including those from vocation wagon, daimler -- volkswagon, daimler and the possibility of eu tariffs hanging in the balance there so you ca

and wilbur ross, you were mentioning his comments from this morning on "squawk box, he talked a little bit about some of the big unknowns that are still in place even after ben owes areas >> i do believe if they live up to the indications they had with president trump everybody will be very happy. what's unknown is whether that was between two presidents and how much is real at ground level. >> so the question is how much is real in terms of the china owes promises and the president tweeting today, scott, a much different tone, whether or not a real deal is possible and calling him seven the tariff man. that's in stark contrast from the weekend. what a difference 48 hours makes here at this white house and we've been spending the past day and a half or so trying to get at what exactly was agreed to. i asked will you be putting out a piece of paper with the list and he said no it's been challenging to try to pin down the different pieces of this and what the commitments actually were that were made at that dinner table. >> if their heads are spinning, in one minute the president's tweet

but for now, acosta and wilbur ross are still there. but still inside of the first half term of this president. we have already had three members of the cabinet resign in scandal. we have had the secretary of state fired by the president. and the v.a. secretary fired by the president. and the attorney general fired by the president. we have had one member of the cabinet, the u.n. secretary nikki haley apparently resign without real explanation, but there remains so opassity around her departure and now this first. a cabinet secretary resigning in protest of the president's behavior and beliefs in being overt about that being the reason for his departure. and again, that is just the cabinet. keep in mind that in the midst of the ever erupting chaos right now in this town, the president has just fired his second white house chief of staff and about to bring on the third and a brand-new white house counsel started last week, i'm sure he hasn't been busy at all with the last week how it has been. the dow jones dropped another 500 points bri

president is said to be considering a replacement for wilbur ross. ahead of a possible government shutdown later this week, saying it is up to president trump to resolve the issue. >> president trump should understand there are not the votes for the wall in the house or the senate. he is not going to get the wall in any form. u.k. prime minister theresa may will attack support of a brexit referendum today as she explains the parliament about the brussels summit. she will choose former prime ministers of undermining her affairs by pushing for a second vote. there would be a catastrophic breach of trust. supposing it won by 52-40 eight, but it was on the lower turnout. let me tell you that if there is another referendum, which i don't think there will be, people like me will be demanding best-of-three. protest have begun taking place against and gary and prime minister. thousands of protesters converged on the headquarters of state television yesterday evening demanding a free press. they have used tear gas to keep protesters away from the building. re

team it's been a partnership of myself, ambassador lighthizer, larry kudlow from the white house, wilbur ross, and peter. so this will be a team that is very inclusive we also have people from agriculture and energy there's a lot of work to do. this will be a real agreement. i think one of the things that's very important is there was very specific understanding between president trump and president xi and now it's the team's job to turn this into a real agreement that will have deliverables, dates, and real commitments. >> one of the things that a lot of the articles are pointing out, mr. treasury secretary, was there really was a change in tone leading up to the meeting, a lot of our officials, you and others had been very critical of china. and china in the same way pushing back on whether anything would really change. was there a tangible difference in the tone that you could pick up at the dinner >> i think so. you know, we had several meetings in advance of the dinner but the final agreement was clearly an agreement between the two leaders. and there were no decisions made until the two

wilbur ross needs to finalize an autos report. a study on his auto imports hurt national security that could lead to auto tariffs in february , at least that is the deadline for when he has to finalize the report. the trade team is pretty busy. given all the other turnaround it seems like confirming new people in the middle of multiple trade wars and big trade files might not be a good idea. host: a few minutes left with jenny leonard. if you want to follow her on or you could call the question like mickey did from milwaukee, wisconsin. caller: good morning. thank you for taking my call. i want to mention about this dollar value of the tariffs collected so far. about $22 billion. overyou have a budget of $4 trillion, 22 billion next dollars is nothing. people keep thinking all these tariffs. the president is misleading people by saying china is paying the tariffs. the u.s. companies are paying those tariffs either passing it on to the consumer for having less profits for the company. in our budget the tariffs that are collected th

the cabinet members who have been leaving under a cloud, you still have the commerce secretary, wilbur rossu had the president fi the secretary of state and the attorney general. you had his campaign manager in jail and his personal lawyer about to go to jail. you have more communications directors than there wale spin tap drummers. s's just a turnover that we have nevn as far as i can abgure out going back at least pr to andrew johnson's 1866.stration in so every time you think you have seen the extreme to which our politics can now reach, the line is pushed back further, and we're less than two years into this administration. >> sreenivasan: and there might be me spinal tap references yet to come. thank you very much, jeff greenfield, for joining us tonight. >> pleasure. >> sreenivasan: bruce springsteen has spent much of 2018 perrming an acclaimed autobiographical show on a new york city stage, and tomorroa filmed version of that show," springsteen on broadway," wil make its streaming debut. but 2018 has been a signal year for one of springsteen's band members, as well-- nils lofgren- -

commerce secretary wilbur ross pushed back on that calling those reports rumors, but then president trump told reuters he could intervene in the arrest of that huawei executive if it could help close a deal with china. however, during testimony on capitol hill this morning, a top justice department official disputed the notion that these two issues are linked. >> we are not a tool of trade when we bring the cases, and that's when we -- that's what we do when we see them through to their conclusion. >> guys, we are expecting to hear from canada's foreign minister on the huawei case in just about an hour we'll keep you posted on all those details. back over to you. >> ylan, in this project of trying to decipher what this news might mean in rewriting its plan, it also came not long after the reports of hacking activities attributed to china, marriott, a lot of other targets there, so how do we filter that into this whole process of deciding if this is sort of a tactical bit of a news leak, or if there's something going on that's substantive behind it >> i think one of the big questions in th

the sculpture caught the attention of wilbur ross.rom bloomberg new york, this is bloomberg. place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. anchor: i'm mark crumpton with bloomberg first word news. emmanuel macron is promising all means will be used to restore calm after protests that have shaken the nation. this evening, he addressed france for the first time since protests around the country turned to writing. he described what as anger in the nation among members of the public. no anger justifies attacking police or looting stores, saying both threaten france's liberty. the european union's top court has ruled that britain's can britain,s mind over strengthening the hopes of people who want to stay in the eu, that the process can be reversed. the court ruled that when a country has notified its intent to leave

wilbur ross said the initial news is welcome, but more must be done. >> we will determine whether itor not. how many do we have? with what clarity? with what measurability? and with what enforcement capability? those will be the key determinants. an agreement signed is useful, but only becomes a living document if you have a means of enforcing it. >> the european central ending its stimulus program, warning clouds are gathering over the eurozone economy. policymakers confirm purchases of bonds will stop this month after four years of easing. it says it is a long way from tightening and breaks will remain at record lows through the middle of next year. >> the balance of risks is moving to the downside, owing to the persistence of uncertainties related to geopolitical factors, the threat of protectionism, vulnerabilities in emerging markets, and the financial market volatility. global debt hit a record $184 , equivalentt year to $86,000 for every person on the planet and double the average capital -- per capita income. it is highlighting potential wrister growth in japan -- risk to gro

wilbur ross and peter navarro. this is the number two much the tweet. i want to deal to happen. it probably will, but if knot, remember, dot dot dot. there might be more coming. if there is a third party, we'll certainly bring it to you. susan: market taking this as a negative. stuart: you're right, susan. the market is taking it as a negative. as soon as the first tweet went out, the second tweet, the market took a leg down. they don't like what the president is tweeting with the china deal. ashley: reemphasizing nine at -0 days. stuart: reiterated 90 days and light highser is there, navarro is there. hard-liners. no retreat for president trump. he is saying 90 days. susan: they expect the 90 day limit to be extended. seems like a market negative if that does not come, well-done, susan. china expects it to be extended. president trump suggesting maybe not. got it. >>> at the top of the hour i gave you my editorial on the greens, environmentalists, i'm saying they can't sell their climate change solutions to voters. voters ain't having it. joining us no

president jiang argentina bobwhite hisor will be working closely with stephen utian larry caudillo wilbur ross and peter navarro on seeing whether or not a real deal with china is actually possible if it is we will get in done china supposedly supposed to start by the cultural products of more immediately president g. and i want this deal to happen and probably will but if not remember i am a tariff man when people of countries or countries come to come in to raid and great wealth of our nation i want them to pay for the privilege of doing so it will always be the best way to max out our economic power we are right now taking in billions of tariffs make america rich again so i as you can see it's a sort of a wishy washy three tweets that are zero that were sent out today and you got to think ok what is going on here now here's the big big shadow really has said anything about this when you view as china about the ninety days they're scratching their heads by agriculture. no they haven't really mentioned anything about that so that's according to what we've heard from the chinese and also we're

yesterday, wilbur ross said auto tarrifs, tariffs on auto parts are not off the table. we are in a government shutdown. these issues do not set up a positive environment for socks. something -- for stocks. one people have been focused third-quarter revenue that peaked. peaked, the rates have we are still seeing strong growth. we are looking at will .4% earnings growth year-over-year expected for the fourth quarter, still north of 6% for revenue growth. jason: we are going to talk to larry lindsey and get into all the politics candidly of the fed. fed weighing on investors' minds, a week or so after we heard from chairman jay powell? >> i think that investors are concerned about fed independence, and maybe a little bit about the continuing roelofs -- rolloffs, of quantitative easing. we think the normalization of rates in the economy is strong, not necessarily a bearish and permit. jason: you mentioned earnings. a lot of hope for fourth-quarter earnings? >> it's going to be ok. estimates have come down the most in the energy sector because crude oil has plummeted. the co

wilbur ross was supposed to be the lead for negotiations because about ross had been to china 85 timess highly familiar with the chinese. but then it was changed to steve mnuchin maybe because of his goldman sachs background and they thought neighbor he would get the deal. so now it's bob lighthizer. it's significant because it's a trade attorney. this is his life. he knows how to get other countries to sign agreements that work for the united states. i think we are on the magic third choice as a negotiator. trish: thank you so much. the liberal media's hatred for president trump on full offense. they are sure the president is guilty of something and an indictment is days away. are they reading the same robert mueller memo i am reading and poring through? i'm setting the record straight. and democratic darling alexandria ocasio-cortez might want to take a civics lesson or two because she doesn't know how our government works. even though our constitution states you need to be 35 years old to be president. she is somehow convinced she can run for president. wait until you hear what she

wilbur ross and the treasury of the secretary beating the same drum, calling on beijing to make more fundamental structural changes, to agree to timelines, deadlines, enforcement actions to mope and -- to open the market to foreign participation. ,n the china 2025 initiative the treasury secretary commented, any changes, the proof will have to be in the pudding. rishaad: another story is a second canadian has been taken into detention in china. what more do we know about this individual? stephen: neither china nor canada are saying the two issues are linked. the presumed second attention of a canadian in china and the trial of meng wanzhou, the cfo of huawei. but you can connect the dots because the coincidence is quite sharp. we are hearing the second american,e according to the whoal mail, is an executive runs a cultural exchange in china that does cultural exchanges with north korea. the foreign minister of canada said a second canadian individual contacted them saying he had been interrogated by chinese authorities after that phone call. there was no contact. there is concern he

and some of the reporting suggests wilbur ross is the commerce secretary and kiersten nielsen, the secretaryf homeland security, might be next. we have been getting pushback them.he white house on trump thinks he is doing a great job. with mick mulvaney taking over as chief of staff, you expect him to do more housecleaning and there could be other cabinet members and white house staff could be next on the chopping block. when it comes to the latest in the mueller investigation, it sounds like president trump will not be sitting down with the special counsel anytime soon. attorney today, rudy giuliani, said that would happen over his dead body. we will take him at his word. giuliani for months went back and forth, maybe he will, maybe he will not. at this point, we would not trump-muellermuch sit-down, especially after the conviction and sentencing of president trump's old lawyer and fixer. that has been a very key moment in the mueller investigation. -- angrye rather angry tweets from president trump about that today. of course, there was this landmark ruling by a judge in texas that obamaca

. >> wilbur ross is at milk ronnin conference in the spring, said raise your hand if you think that china not happy with a trade surplus, not a single happen within up, the country and most countries would rather be in a surplus position. david: one in five small businesses, american small businesses do business with china, this is something that really across the board from top to bottom. senate democrats ask congress for a new investigation to deutsche bank, should the financial industry be concerned when democrats take control of congress next month? why investors will want to listen up, that is coming next. great news, liberty mutual customizes- uh uh - i deliver the news around here. ♪ sources say liberty mutual customizes your car insurance, so you only pay for what you need. over to you, logo. ♪ liberty. liberty. liberty. liberty. ♪ but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with par

wilbur ross said we have a long list of things. they've given us a little bit.way to go. is it realistic to think they will make an of in 90 days to put this to bed? something is difficult if not impossible to predict. in these negotiations you're not done until you are done. it is always problematic. we will have to wait and see how it comes out. it is a closed process and not evidenced to outside observers. , in people on the inside think these things typically come together in the closing days or even hours. david: give us your sense of how much leverage president trump has based on other pressures on the chinese economy. this is not the only issue president xi has on his agenda. he has a slowing economy and issues there. how much pressure does he feel to take care of this problem? the people think around president trump have talked about how this is an ideal time to pressure the chinese. we have a lot of leverage. i think that is a negotiating position. the reality is the chinese economy has slowed. it is still growing strongly. on the u.s. end we have a lot

you have wilbur ross, bob lighthouses are, how are the chinese supposed to deal with these differingrom the administration? shawn: that has been a challenge throughout this year. the one thing we need to step back and remember is the architect of the tariff policy, besides the president, has been bob lighthizer, the u.s. trade representative. what we have learned in the last 24 hours is that light heiser will be leading the negotiations over the next 90 days while working with steven mnuchin, peter navarro, larry kudlow, and so on. bob lighthizer leading these negotiations is important. he is a longtime china hawk and has been someone critical of past administrations for agreeing to or being suckered into prolonged negotiations. it is going to be interesting to watch him now that he has his hands on the wheel. in about 25 minutes we understand that ceos from german car manufacturers are going to be at the white house for talks. .ou have your ear to the ground what are we hearing about the possibility of tariffs being imposed? shawn: that is the other big threat, these national securi

liz: if you were advising president trump and robert lighthizer and wilbur ross, what would you tellen it comes to the trade deal with china? >> i would say fight back. we are just as good as the chinese are. we can hack. we are pretty darn good at it. how many young men and women do we have in sill scon valley that could do this on a weekend. hack back at the chinese and do it in a public manner so it becomes sort of like a cyber war where either side can win. liz: would it escalate and make it worse? >> no. how can it get worse? the only thing they would be afraid of is for to us start stealing their technology. the second thing i would do is i would take a hard, long look at chinese students in our universities and those who are hired from china to work in our corporate structure. when i was in the army, i remember i visited china in 2000. i remember a chinese general bragging to me there were more pla officers in american graduate schools than there were american officers in american graduate schools and i don't think liz: china does have that law that says everyone works for the

automakers, the white house says the president discussed investments in the u.s., commerce secretary wilbur rosspresentative lighthizer and chief economic adviser larry kudlow met individually with executives, the groups from woks vagueon, meeting with volkswagen issued statement, they want more investment in the u.s., now it is up to the governments and the european union to find a solution that benefits all parties. lauren: former cbs chief moon ves. >> reportedly destroyed evidence and interfered with an investigation into sexual misconduct allegations against him, that's according to "the new york times", lawyers conducted investigation found moonves to be untruthful and deliberately lied and minimize event of his sexual misconduct. cbs down about 13% year to date. cheryl: deleting emails, all kinds of crazy allegations against him. this is a heck of a fight for them. tracee: u.s. postal service could soon charge more for certain packages taking direct aim at amazon and other retailers, according to a report from a treasury task force, the postal service has not priced packaged deliveries ba