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tv   Mornings With Maria Bartiromo  FOX Business  March 22, 2018 6:00am-9:00am EDT

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do they have the vote? the latest is congress scrambles to pass a bill before midnight tomorrow. trade crackdown. president maria: in a $60 worth of strip tariffs on chinese imports this afternoon. over concerns of a possible trade war. i will speak with the white house national trade council director peter navarro later this hour in what the president will announce today at noon time. futures pointing ahead of the announcement communicated the dow will open 160 points in two thirds of 1%. the nasdaq up 70 points lower. dotzler yesterday of course yesterday of course selling of accession with the federal reserve raised interest rates for the first time this year under new chairman jay powell. yesterday the market was down across the board down 45 points. nasdaq down 19 and the s&p 500 down five points. stocks are lower. investors watching the bank of england due out in about two hours from now.
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we'll give you that when the news hit the tape. down one half of 1% of the cac in paris than 1% each. mixed performances. take a look. although the nikkei average in japan is up about 1%. move over dollar. while twitter ceo says that it claims will replace the greenback for the world currency in the next decade. m.i.t. joining a new type of school. set to explore the secrets of the week. the stories coming out. fox business network they can make tallow. mr. schell in "the wall street journal" james freeman. great to see you guys. >> look about the news we have today. >> the biggest headline is now we know at least one person who's not going to be running for the presidency ever. mark zuckerberg. he has the charisma -- my shoe
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has more charisma than mark zuckerberg. again, it is like something out of westworld. he is a robot. >> we had a president who did an apology to her. it's happened before. maybe this could work. until they start paying in bitcoin, should've been a signal for washington to restrain the spending. maria: that's true. dagen: real quick on the issue of jack dorsey, he's runs square. square pants basically selling people fractional shares. they are advertising that garbage all over pod cast to millennial, he's running a casino if you will. >> the world currency? dagen: sorry. i know it only 6:02. i can't do big old raspberry.
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>> the federal reserve is telling us to rate is going to maybe double in the next two years. the cost of borrowing money. washington's response is basically blowing more than 100 billion past the sequestered caps that in 2011, 20 trillion in debt and it's about to get a lot more expensive. maria: look, they have to give to get according to paul ryan. they have to spend more on other things in order to get the agreements of the military spending change. >> i understand concern about readiness, but you do have to consider would need to be ready to fight 10 years from now, 20 or so now, 50 years from now. if we are not an economic superpower, will not be a military superpower. dagen: that is the sloppy throw in the trough to be dogs. because that is poppycock whatever they are doing.
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>> a lot on the table. join the conversation, white house national trade direct or peter navarro, head of what will be a big afternoon. the president will announce restrictions against china at 12:00 today. utah senator, senate finance committee chairman orrin hatch will walk us through the new spending bill. house budget committee chair steve womack will do the same. he will explain the spending bill. presidential candidate governor mike huckabee is here. presidential candidate herman kaine is here and the ceo of, patrick hurd has a thing or two to say about bitcoin as well. at the top story now is mark zuckerberg breaking his silence and publicly addressing the growing privacy scandal that allowed an outside firm to gain access to the personal data of 50 million facebook users. manu interview, he said he is willing to testify before congress. he suggested his company may
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need to be regulated. >> this is a major breach of trust and i'm really sorry that this happened. we have a basic responsibility to protect people's data. the mac will you testify for congress? >> the short answer is i'm happy to assist the right thing to do. i'm not sure we should be regulated. in general, technology has been increasing important trend in the world. i actually think the question is more what is the right regulation rather than yes or no shouldn't be regulated. maria: the recent decline following the interview is down two thirds of a percent right now. political reporter, alexi mac fan. great to see you. thank you for weigh-in this morning. what was your reaction to the interview? >> as you mentioned at the top of the show, it took five days to make this statement and someone else was saying he?
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charisma and i think that is all fair criticism of him. my reaction, this is what we've reported is they've been left out of critical things. it didn't have an explanation for why in 2015 all of this is happening. they didn't come forward. it also left out why they didn't say anything in the conversation in the conversations we've been having with facebook's rule about donald trump campaign in the 2016 election. there's a lot of key things missing about what was what we are really hoping to be seen in a statement. >> are you expecting new legislation on technology companies as a result of the powerful influence they've had, never as powerful as they are today? >> that's an interesting thing was seeing how both sides of the aisle sort of agree on is they think there should be more regulations on tech companies and as we see the power that facebook and twitter and google have is almost a facility's
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lackluster statements, congress will move forward to regulate these companies in mark zuckerberg said that he is not sure that they shouldn't be regulated. what we will see is obviously congress is calling on him to testify. that will help inform any legislation may consider moving forward. >> mitch rachelle. obviously we're not big fans of regulation, but if there is regulation, what would it look like? the regulation of facebook in companies like that isn't really that good because the internet has been around for 25 years and has more privacy issues across the internet. what would regulation look like if there was regulation? >> that's a great question. as they get more information about not only security breaches, but how the platforms can be used as weapons against the users. what we can expect to see is regulation of i thought we were
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talking about. unfortunately, all of this is so new. more information coming out in the days since this was announced in mark zuckerberg apemen and whenever he could possibly reveal that he hasn't revealed. dagen: this policy was put into place in 2007. it ended after 2014 and that allowed opening up these acts to developers and giving them access to not only the people who use those, but all the information of their friends. that is what help facebook grow from 48 million users to more than 2 billion users right now. time and again, i will just say the righteous indignation from the left right now is laughable because this has been going on for years in terms of russian manipulating the platform, letting people kill other people and commit suicide by facebook
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live. fake news. maria: you can't forget the barack obama presidency in the election. they know how to catch potential voters. come on in. we want you to win. >> it was perfectly legal and people on the left felt like they were friends, that they were in their corner and this is what happened. it was hilarious to smearing you see on other networks by these commentators. it's like hello, we've been talking about it on fox news for years. maria: which is why when we spoke with congress about this, everybody i asked in the last several weeks that we are catching some kind of legislation. chris collins yesterday. >> i'm confident you will see new legislation coming out, where it belongs, the ftc will be coming down on them.
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it is more evident for someone that you are checking a box. >> i don't want congress to overreact about having all the information. first thing i want congress to do is learn everything that happened. this is a technology continuing to grow, where a lot of people get their information, although it may not be true information. what roles do we see that should change? facebook is to come and talk to congress. they need to answer the questions and after we get the information, we should see what is appropriate for the future for the individual going award. maria: conversation number one. >> as you know, facebook is nearly guilty of being useful to the terms campaign in 2016. given that this service has allowed a lot of people for free to enjoy a lot of services in return for trading information about them, i am wondering about the downside risks for
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regulation. the fact that mark zuckerberg doesn't seem to be opposed to it. we've seen this before. big companies, big incumbents benefiting from regulation because it means new competitors have a tougher time competing with them. is it likely if we get a new round here to help facebook because it's going to make it very expensive for someone to create the next competitor to them? >> that's a very good question. i don't know the exact specifics, but that is something we should be considering. obviously a lot of political calculus going on behind mark zuckerberg saying i'm not sure we shouldn't be regulated, which could benefit him as you just mentioned. all that remains to be seen. in terms of regulation back to the earlier question, the idea of how much data is given in available is something that facebook mentioned in the four step plan to take action after they admitted to this. they would notify users of apps
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they were using. that is hugely important and could be considered in legislation. they consider to be misusing data, cut them off in the platform. that is something concerning these regulations hinges barring people from joining the platform if they've had previous sort of shady ways of collecting information. >> i want to be clear. i sat on this program for years now and has more problems developed like not really cracking down on terrorist content and actual people who committed terrorist acts and stepping back and trying to wash their hands about. and so you better get your arms around what is going on on this platform. you're asking for regulators to come in the front door of your company and crack down on it. i said it time and again. by the way, when they found out in the past, there's a myriad of abuses of this very day that.
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cambridge analytic that is not the first. their way of policing it is like you really shouldn't do that. [laughter] you need to stop that. that's really not good. that's their way of enforcing it. your thoughts on this effort to avoid a government shut down. $1.3 trillion spending bill. >> it's an expensive package and i've heard they honestly want to do everything they can to avoid a government shut down. there are a couple of bipartisan wins in the air, the opioid epidemic using $3 billion increase in funding is a huge deal. the bipartisan support is a huge win for both sides of the aisle. we can expect the government will remain open and that's a good thing for everyone. >> good thing for everybody. we are looking at a $1 trillion
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deficit. coming up this hour, peter navarro getting his navarro getting has taken what was your today at noon time. the restrictions and tear escaped to china. don't miss it coming up in a minute. new clues into the austin bomber. a reported confession video left behind by the suspect. we'll tell you what he had to say up next. we took legendary...
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strong chemo can put you at risk of serious infection. neulasta helps reduce infection risk by boosting your white blood cell count, which strengthens your immune system. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro. maria: welcome back. the austin bomber leaves behind
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a detailed recording of his deadly plans plans. lauren simonetti with headlines now. >> authorities found a trove of bomb materials and the recording in which mark antony condit confessed to his crimes. he also listed future targets he was intending to blow up before he was stopped. authorities say conditt never mentioned a motive. >> on this recording, the suspect described as six bombs that he constructed with a level of specificity that he identified the differences among those six bombs. it is the outcry of a very challenged young man talking about challenges in his personal life. dagen: police say there is no further threat, that the community should still remain vigilant. millions of people in the northeast starting to dig out from the fourth nor'easter in less than three weeks time just a spring gets underway.
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the storm dumping more than a foot in some parts of the region, knocking out power from tens of thousands of homes. airports canceling 5000 sites yesterday. another 1500 today and a possible fifth nor'easter could arrive on sunday. two american astronauts and one russian cosmonaut are underway to the international space station. the crews blasted off from kazakhstan yesterday and they will dock at the space station tomorrow afternoon. maria. maria: lauren, thank you so much. a lot of headlines around russia. i want your take on this memo given to the president saying do not congratulate vladimir putin. and then he called and congratulated him. >> yeah, it is disappointing. i think it was disappointing when president obama did it. i suppose there is an argument that it is one of these courtesies you extend in service of a larger long-term agenda at
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building a relationship with putin, but one of the great weapons the united states has the ronald reagan understood that i don't investor trump always does is our moral authority in the world and we should never give essentially dictators the cover of legitimacy. this is not a real election opposition. people in russia are not allowed the rights we have here. we don't have a free press, so we don't acknowledge or pretend that putin is legitimate similar to the chinese government. maria: says i called president putin of russia to congratulate him on his election victory. in the past, obama called him also. they are wrong. getting along with russia and others is a good thing, not a bad thing. they can solve problems with north korea, isis, iran and the coming arms race, bush tried to get along, but did not have the smarts. obama and clinton tried but did
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not have the energy or chemistry. peace through strength. democrats slam the president for the call he's not the first to congratulate the message is said. president obama did the same in 2012. we know to reason i.e. is targeting going right at pruden for murdering two people with poison in the u.k. just a few days ago. dagen: a nerve agent. a former spy and his daughter, which even oversteps the most hideous acts of the soviet union. we quote mary kissell, the great mary kissell. so, president trump went through those areas that we can help solve problems. north korea, syria come ukraine and even the coming arms race do not share our interest in any way, shape or form in any of those areas. maria: zip code --
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dagen: zero, not a company and pay. maria: crypto crackdown is affecting their claim and all the other currencies. jack hersey, when he says is the world's biggest currency in the next decade. are finding themselves morin a chevroletple for the first time. trying something new can be exciting.
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maria: welcome back. breaking news right now. president trump we did this. crazy joe biden is trying to act like a tough guy. he's weak both mentally and physically and threatens me for the second time at physical assault. he doesn't know me that he would go down fast and hard. crying all the way. don't threaten people, joe. it is a little weird that joe biden is out there saying again are taken behind the schoolyard and beaten them out.
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>> this is like a south park cartoon. maria: it's hilarious. crazy joe biden. the president says he can take him. dagen: will have a lot more interesting if joe biden wasn't so fair. >> at 2020 premium could make for exciting debates. maria: this dagen: this is pay-per-view. maria: meanwhile, interest rates on the raspberry federal reserve reserve announcing it will raise rates dj apollo's first meeting as chairman. >> as you already know, we decided to raise the target rate for the federal funds rate by one quarter of a percentage rate bringing it to one and three-quarter%. this decision marks another step in the ongoing process of scaling back monetary policy accommodation, a process underway for several years now. maria: one and three quarters of a percent. following the decision we are looking at another decline.
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features indicated the dow down 150 points. portfolio manager, steven chevron, good to see you. thank you for joining us. you were expecting the rate hikes? >> look, we thought it was right down the fairway. normally you can't break 500 basis points in every session. they want as much in terms of rate hikes as they can, that they are trying to go in the case is measured. they added one for next year. the most important thing was they forecasted inflation rate of 2%, which tells us they are comfortable does when he when a little hot. maria: and markets sold off yesterday. >> our side as people weren't necessarily expecting to move from two hikes to three. they are trying to understand that. the shares of discount on this news, we will take them. >> we talked an agreement so maybe the audience could
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benefit. the fingerprint the market out most recently as inflation. an earnings report yesterday with hints about inflation. dagen: their costs are going up. >> to talk about 20 year high in cost in a supply chain, sanctions commit terrorist and what that could do to the market. >> it should build peer group got a lot of stimulus in the system, but also a lot of countervailing trends. you've got the amazon effect, uber effect, substitution of machines for people. which inflation builds slowly. we were talking in in the green room from a ditch or race beginning of the year. you've got to go to the next cycle. it takes a while for that to build. every day that a boomer retires, day higher retired higher wage. >> is this a big risk? is that a small risk session marred you see president trump
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getting lower tariffs out of other countries or is this a problem that you see as a downside versus the tax cuts? >> a tariff is a tax. right now we are dealing with a series of benefits from tax reform and repatriation and even the spending bill in the short run the measures in the trillions. talking about tariffs that measure the billions. the balance is positive. that said, we will see what we come up with today. if you hit the chinese on intellectual property, that is at the core of their economy. maria: what do you do if they steal our intellectual property? >> the president is trying to force a better deal. so many administrations have gone to try to get a better deal about a cigar put another four had. we will see if it works. maria: great to see you. dramatic new dash cam video
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release show at the the bridge collapsed in miami and last week. unbelievable video to show you. meredith is fun and laughs that time link. details ahead as it explores the sale of iconic magazines as well. back in a moment right here. ♪
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maria: thinks for joining us, happy thursday. it is march 22, 6:30 on the east coast, time for tariffs, donald trump unveiling his trade plan targeting chinese imports today at noon. us trade representative robert lightheiser exciting why intellectual property is the core of this action. >> we have a very serious problem of losing our intellectual property which is the biggest single advantage of the american economy, losing that to china in ways that are
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not reflective of the underlying economics. maria: straightahead, speaking with white house national trade council president. fears of a trade war sparking worries on wall street, markets looking at another down day, a decline of 150 points, 70 on the nasdaq. that is 1% after modest losses across the board yesterday, stocks erased gains when the federal reserve announced it is raising rates as everybody expresses. global markets this morning look at european industries declining across the board, we are waiting to hear from the bank of england, decision on interest rates at 8:00 eastern and we will bring it to you. and asia, mixed performances mostly lower with the exception of japan. dramatic new footage of the florida bridge collapsed. this video was taken from a dash cam showing moments just before and after the crash. axing jobs the company announcing a major round of layoffs, plus iconic magazines on the chopping block.
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they goodbye to king john are, that is what twitter ceo jack dorsey is saying, but going takes its place across the world, using a robot to save the ocean, mit unveiling a new fishlike device that swims alongside real ones and blends in. we will get it to you. tariffs against china, donald trump expected to announce up to $60 billion of tariffs on chinese imports. the move aims to curve the theft on american technology. >> our reviews we have a serious problem of losing our intellectual property which is the biggest single advantage of the american economy and we are losing it to china in ways that are not reflective of underlying economics. the remedies in my judgment would be doing something on the
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tariff front and doing something on the investment front. maria: joining the is national trade council director peter navarro. the president will announce this at noon. we know in china there are restrictions in terms of investing in china. in terms of investing in us companies? >> the big picture here, in december the national security strategy, this government recognized for the first time china is a strategic competitor engaging economic aggression and the worst kind is how they basically force american companies to transfer technology in exchange for market access as they steal intellectual property through cybertheft and traditional espionage. with the president wants to do is to have the chinese stop
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doing that stuff and what we will see today in the roosevelt room is a package that will likely contain tariffs designed as a compensatory mechanism to get back the damages china is causing to our economy and investment restrictions to prevent the chinese as a matter of their own industrial policy and strategy from coming into america and robbing us of our seed corn, the technology we need for the future. this is a courageous day for the president, a visionary day and promises made, promises kept, which my president likes to do. maria: we have a $375 billion deficit with china. what is the goal here? does the president want to get
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that number lower? >> the tariff package, don't want to steal the thunder of the president today but the tariff package will be designed to lower the deficit and compensate us for the tremendous harm china does by taking our intellectual property but investment restrictions are every bit as important. we have trillions of dollars of state finance money coming into america plucking the best of the best in silicon valley, boston, austin in terms of high-tech and these are the things that threaten our future. if we allow china to capture the energy, the industry of the future we won't have a future so that is what this is about. a historic day, a fundamental shift in american policy towards china after decades of economic dialogue. talk is not cheap with the chinese.
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it has been very expensive as we have been talking with them since 2003 and they have been robbing our technology blinds. maria: but we know there is something that will be a retaliatory move. there's this growing concern that any tariffs will stoke china to do something back and create a global trade war. the wall street journal is reporting beijing is ready to respond with tariffs targeting donald trump support base, us farmers. is there a plan in place to mitigate the retaliatory measures that are coming? >> a couple things to say. this policy on behalf of the president that has been developed is the whole of government approach. we had hundreds of people working on this for many months looking at the strategy and contingencies but this talk like this is irresponsible in some sense because if you look at the chessboard i think it is clear that all we want is to defend ourselves against
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economic aggression and i see this as bullish for corporate america. look at the typical company that goes over to china, they want access to that market, the biggest and fastest-growing market in the world and what get access for short-term profit and in exchange they have to surrender long-term growth, they surrender their technology to a chinese competitor and in 3 to 5 years that competitors knocking them out of the market. from the bottom-line stock market perspective, long-term profits are going to be better for american companies under this kind of policy. second thing to say is china is doing a lot better with this trade relationship than we are, $307 billion trade surplus in goods every year. i don't see them wanting to jeopardize that. they know what they have been
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doing and taking from us and probably surprised that finally a president is ready to stand up for the american people and american companies. >> is in this going to result in higher prices for consumers? talk about the impact on the economy and on people? one of the beauties of having this cheap stuff from china is its neagles that being affordable for american consumers which how significant will we see prices go up. >> that is a false narrative in a lot of ways. what is going to happen is modest, minimal price affects if at all. what we have seen with the solar and washing machine tariffs is not rising prices. we have seen a flood of new investment into this country creating american jobs and since china joined the wto in 2001 there economy has grown from $1 trillion-$12 trillion, 800% growth rate. it is phenomenal but on the backs of the american people.
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we went through 15 years of stagnant wages, slow growth and we have a president in donald trump who has in his first year had the most remarkable year of economy of any president in any recent memory going back a very long time so i see nothing but bullish signs on the horizon, higher wages, strong economic growth and this policy is fundamental to our future. maria: the federal reserve chairman jay powell was asked about it yesterday and he is not expecting an impact on the economy. >> the number of participants did bring up the issue of tariffs and if i could summarize what came out of that was there is no thought that changes in trade policy should have any effect on the current outlook. the second thing i would say is
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a number of participants reported their conversations with business leaders throughout the country and reported trade policy has become a concern going forward. maria: that was no impact on the economy but your take on the aluminum and steel tariffs, they will go into effect friday. how many exemptions will we see? will europe be exempt? >> there will be an announcement this afternoon. i don't want to preempt secretary ross or the president. the proposal that will come out in terms of implementation will have absolutely strong support for the goal of protecting aluminum and steel industries from this flood of imports. >> a 20% tariff retaliation is the issue here. >> this kind of talk i think
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doesn't serve anybody. if you look at the chessboard let's take europe, they run $150 billion a year surplus in manufactured goods with this country. 6000 jobs we lose for every billion dollars a deficit we create with europe, that is over 1 million jobs created over in europe, belgium, germany, where ever instead of right here in america. if they want to jeopardize that, that wouldn't be a rational act. we can expect some chest thumping for politics but at the end of the day donald trump has said repeatedly every country in the world ripping us off with high trade surpluses. all we want is fair and reciprocal trade and the american people deserve that and have a president that is going to give that to them. maria: you were there when the president was talking to the
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crown prince yesterday. a big deal in terms of arms sales the us is selling to the saudis. >> that was a great day and i love watching the president interact with world leaders, so smart and the friendship between the crown prince and the president is so visible but at this neagle of the day that saudi deal is 40,000 jobs in america and high-paying good manufacturing jobs and guess what, when saudi arabia buys a weapon system to defend themselves that means fewer soldiers in america in harm's way, more jobs in america and we strengthen our defense industrial base which is what i do at the white house every day, try to make that happen. maria: thanks so much, we will be right back.
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each day our planet awakens but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. maria: donald trump tweet the did the remember when they were saying during the campaign that donald trump is giving great
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speeches and ranking crowds but spending less money and not using social media as well as crooked hillary's staff? not saying that anymore, obviously referring to what is happening at facebook. dagen: the problem we're hearing about facebook, all of this happens 2014-15 so facebook entered the policy, the policy used by the barack obama campaign was essentially ended and facebook didn't do anything about it and they are embarrassed. maria: they wanted it, they wanted to help pres. obama. >> can't believe it, abusing people's data. >> stunning - can put it showing that the collapse of a pedestrian bridge last week at florida international
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university. >> the video captures the moment the bridge crashes to the ground crashing cars below and killing six people. it was a new bridge installed march 10th, five days before it collapsed. still investigating the cause of the collapse but many fatalities. that his new video. meredith corporation plans to lay off 1000 people at time as an effort to save $5 million in the next two years and considering selling some magazines, shares of the company down 20% this year. check out what folks at mit have been doing, they built a robot fish, sophie, that can be used to study real fish and other creatures of the deep, these robots are so sophisticated they can swim with schools of real fish in open water for 40 minutes and are used to explore parts of the ocean we have never seen before. >> we will be right back. (vo) technology moves fast.
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because the time to think about tomorrow is today. >> i'm not sure if i would encourage people to run out and buy these cryptocurrencies, but the technology people like to talk about, the blocked chain technology, i am somewhat skeptical how well that translates into good investments. i would belong bit coin and neutral to typical of everything else at this point. >> that was the cofounder of paypal speaking about bit coin in an exclusive interview last night. jack dorsey also said he sees
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incredible promise in bit coin. he told times of london the world will have a single currency. the internet will have a single currency. i believe it will be bit coin. patrick, you have been on the show a lot talking about the wonder of bit coin but that is the first time i heard anybody say they don't -- they trust bit coin. >> is normally a very smart guy. i didn't think that was the smartest comment he has made but it wouldn't be the first time. the underlying blocked chain technology has this unbelievable -- to reshape civilization. the main event is blocked chain. it is curious to me that he said that. maria: you have been using the
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coin. >> to me the main event is not bit coin but the underlying technology which is blocked chain. your granddad ran his hardware store, cryptographically protected into magic ledger, had all these magic properties and things he can do with it. that will change the world. >> i wonder how many people will use the magic now? >> we are in the earliest stages of adoption. we are using a block chain version of wall street. >> changing crypto currency, the scrutiny is impacting the plan. >> they sent a letter about
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this. >> the secs and a report afterwords. >> are you going to wear the hat to the meeting? >> that or my malice jacket. dagen: blue blue shouldn't wear hats indoors. that is a general rule. maria: it might ruin your beautiful hair. >> you wouldn't have had it at the sec. >> that is legitimate and overdue. i was wondering where they were, it surprised me how slow they have been to react to. there was an explosion of the initial coin offerings. sure looked to me like it was outside the law and i'm surprised the sec took so much time but in july the dow decision when they started hinting and nudging into weaker two ago they said all that
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stuff treated securities. >> what exactly are you buying? what do you have ownership in? >> if you buy a token, like a share of stock, it is a slice of the company. the big coin explosion, initial coin offerings, most were called utility coins and that was a real way to pretzel around federal regulations. maria: are you going to sell the business on this speculation? >> they know what the stock moves on. we are in discussions and i have a shock collar tides under my collar if i say the wrong thing. - there are tens if not hundreds of thousands of jews
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in israel and the former soviet union who are not going to be able to celebrate the passover without our help. - [narrator] there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - [woman] this is a crisis. these elderly holocaust survivors are struggling to survive. they're starving, have little money for food, electricity, or medicine. - [narrator] just $25 provides one needy elderly holocaust survivor in the former soviet union with a special emergency food package that contains a note saying it's from christians and jews
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in america and canada who want to bless them. please call right now. - in ukraine, there's no support 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. - [woman] the bible teaches blessed is he whose help is in the god of jacob. he upholds the cause of the oppressed and gives food to the hungry. - [narrator] these special passover food packages represent a gift of life for destitute elderly jews in the former soviet union. just $25 provides one elderly holocaust survivor with a special emergency food package. please call right now. - [yael] what i pray is that you won't turn your eyes but you will look at their suffering and your heart will be changed. - [narrator] we pray that god will move upon your heart
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to act right now and send an emergency gift of just $25 so that we can help more frail and lonely elderly holocaust survivors in the former soviet union before it's too late. >> maria: welcome back. good thursday morning. thanks so much for joining us. i'm maria bartiromo. it is thursday, march 22nd. your top stories, 7:00 a.m. on the east coast. i'm really sorry, facebook ceo mark zuckerberg speaks out over the growing privacy scandal. the fallout for the technology sector as zuckerberg says he's willing to testify before congress if necessary. meanwhile, the race to avoid a shutdown, lawmakers have reached a tentative agreement on a $1.3 trillion spending bill to keep the government running but do they have the votes? the latest as congress scrambles to pass the bill before midnight tomorrow night. trade crackdown, president trump will announce strict tariffs and
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restrictions on chinese imports and china investing. that's happening today at noontime. the move sparking concerns over a possible trade war. i spoke with the director of the white house national trade council, peter kno novarro about what's to come. >> the talk like this is irresponsible in some sense. all we want is to defend ourselves against economic aggression and i see this as bullish for corporate america. >> maria: markets under pressure today. futures indicating a decline of 200 points at the start of trading this morning. stocks settled lower yesterday and that momentum is continuing in a big way this morning. the nasdaq is down 80 points right now. the federal reserve raised interest rates yesterday for first time this year under new chairman jay powell. markets traded down after that. the s&p was down 5 and the nasdaq was down 19. in europe, investors are watching and wait r ting for the
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bank of england's decision on interest rates. in asia overnight, mix performance. japan was up. rest of the majors were lower. anplus, not playing around, thee details as toys r us begins to liquidate. all those stories this morning coming up. joining me to talk about it is dagen mcdowell, mitch rochell and james freeman. great to he see you. >> good to be here, thanks. >> maria: so much on the table to talk about. >> there's a toll we've got the china sanctions release later today. >> maria: we've got restrictions on investment as well as tariffs. >> trade tariffs and perhaps prohibitions on their investment in the u.s. >> maria: fed raised interest rates yesterday, no big deal, 1 3/4%. >> the fed thinks the economy can grow faster and they finally realized there are people in the
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economy who can come into the labor market. these are good things da at the >> dagen: the ladies and gentlemen in d.c. are spending that much more money, in the face of higher interest rates and the fed who is driving down the balance sheet an. >> maria: we've got all that on the table. orrin hatch will talk about that coming up. also, arkansas governor mike huckabee is more. herman cain is joining us and stuart varney weighing in as well. all that coming up this morn. first, house republicans have finally unveiled their whopping $1.3 trillion spending bill ahead of the looming government shutdown. president trump endorsed the bill last night. he tweeted this, $1.6 billion to start wall on southern border, rest will be forth hadcoming. most importantly, got $700 billion to rebuild the military, $716 billion next
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year, most ever of. had to waste money on democratic give-aways in order to take care of military pay increase and new equipment. the funding measure needs to make it through the house rules committee before a floor vote. some conservative members in the chamber not happy with this bill. too much money. >> we continue to fund sanctuary cities. we continue to fund planned parenthood. we don't build the wall but yet we put money in for a tunnel. the last time i checked, when the president was campaigning, he wasn't campaigning for a tunnel between new jersey and new york. i'm not very optimistic there will be conservative wins in this. >> maria: joining us now is house budget committee chairman, steven womack. thank you for joining us this morning. >> great to be with you. >> maria: what about that, planned parenthood, sanctuary cities, all of this extra spending has us looking at at trillion dollar deficits 10 years out and beyond, how do you justify that? >> let's first of all understand what we're doing in this bill and, again, this bill is not
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across the finish line yet but we went into these negotiations with the express intent of primarily fixing our military. and in order to do that, like any other negotiation, understand that the other side gets a vote in this thing. we don't have 60 votes in the senate. so in this four corners negotiation, when you've got members of the senate, the minority leader in the senate, the minority leader in the house and the two majority leaders in the house and senate on the republican side negotiating, they're going to get a vote. so in order to beef up the defense, there were certain things, other concessions that had to be made and that's just what's going of happen in negotiation. it's a 2,000 page bill. members are still sorting through it. we've got a short time line that we're being asked to consider this thing, so there's a lot of activity going on in the nation's capital today with regard to this package. >> maria: i understand the need to fund the military and we talk about that all the time, given the fact that our aging fleet in
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the navy has 50% of the planes unable to even fly. i get all of that. we're seeing accidents. but did you need to go to that number? did you need that much in terms of military? could you have scaled back a bit so that you weren't handcuffed to put all of this other spending on domestic issues. >> they wanted dollar for dollar, maria. the democrats expected dollar for dollar and we didn't go dollar for dollar. we took our cues from the leadership in the pentagon. secretary mattis was emphatic as to the numbers he needed to hit in order to be able to meet the demands that are created by the threat that is expanding around the globe. and this is not the time for us to be taking a pass on taking care of our men and women in uniform. we've got fundamental issues in the pentagon. we've got structure problems. we've got acquisition program problems. we've got an expanding threat around the globe. it was necessary for us to take the steps that we've taken in
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this bill to beef up our military. and now, when you do that, you have to make concessions on the other side and while they didn't get dollar for dollar, there were things in that bill, there are things in the bill that we would prefer not to have to do. that's what happens when you have to negotiate the way we do. >> maria: mr. chairman, will you get enough votes for this massive bill? >> to be determined. i'm on the whip team. i'm not aware of the whip count last night. i know there will be a lot of undecided voters or undecided members. we have a 2,000 page bill to sort through. we know pretty much what's in it from a numbers perspective but what we don't know are some of the other things that have been added onthis bill that are unrelated to the spending provision. that's what members will be going through today to try to figure out what else is in the bill and whether they can muster the votes necessary to be able to put it across the finish line. we still have to go through the rule process and there might be concerns about whether we can even pass the rule.
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but sometime today we'll have that in clarity. >> maria: is there a plan to face off against trillion dollar deficits? when does that become a priority? >> well, look, part of what we've got to do in order to be able to fix the fiscal glide path of this country, we've taken some steps already. we worked on the tax code by lowering tax rates. we think that's part and parcel to try to grow this economy because you're going to have to grow the economy to be able to fix the deficits and the debt as we know them today. we've gone after a lot of the over-regulation that happened in the last several years. we're beginning to take steps to be able to rid the private sector of a lot of this over-regulation. but growing this economy those be a central focal point, a growth model is what's going to fix what ails this country right now. so cutting taxes is doing that. cutting regulations. and then we eventually are going to have to deal with the elephant in the room and that is the mandatory side of spending,
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about 70% of federal dollars go out to programs that are on auto pilot. i believe you'll see this congress and the next congress pivot to going to things that go to the heart of driving deficits in the country. >> maria: at some point it has to become a priority. now what i hear being talked about is not that, but phase two of the tax cuts. here's kevin mccarthy with me yesterday when i asked about that, the next step in tax reform. >> i want to see the individuals made permanent. like any big bill when you go through it, there are going to be other aspects that you didn't think about. let's see where we need to go there. let's see how this bill has transferred and changed the economy. is there places we missed? let's listen to the economy and let's analyze that. >> maria: what about that, mr. chairman? what do you want to see in terms of phase two in the tax cuts? >> we would like to make the individual cuts permanent. that's part of giving certainty to the economy and certainty to
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american households. but it's still i think a bit early for us to be able to with clarity understand exactly what this tax cut and jobs act proposal and law has actually done. i think it will take us for the rest of the year to figure out exactly how it's going to impact businesses, impact families, and so if there are tweaks that need to be made, we're all in about that. there was a tweak that we took care of yesterday or at least in the announcement with the grain farmers. so we're going to find out a little bit more about the tax cuts and jobs act as we move through the year. >> maria: i want to ask you about facebook. before i get to that, i want to read you governor mike huckabee's tweet. he's tweeting he will be on this program. i'll talk to him in a few minutes. he says i will be on maria bartiromo and will let loose on gop for collapsing and surrendering to be pelosi and schumer on a disgusting bill. it's not a compromise. to borrow a phrase from nancy
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reagan, just say no. what do you want to say to mike huckabee? >> look, mike huckabee's a great friend of mine. i was a mayor in the town of governor when he was my commander in chief. he can say it's disgusting. that's easy to say from the outside looking in. but as i said before, i believe strongly that we have a mandate to provide for the security of this country and in order to be able to get the gains that we did for the pentagon and for national security, there were concessions that had to be made. that's going to happen in any negotiation. you can call it disgusting all day long. there are things in the bill that i would prefer not to have to vote for. that's why we're sorting through it today to figure out are there any other issues that have popped up in this bill that will make it distasteful enough that we can't support it. and look, we've got until tomorrow to fix it. if not, we'll be looking at a short-term c.r. and back to the negotiating table. >> maria: mr. chairman, what about facebook and what we have seen, the companies are more powerful than they ever have
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been, mark zuckerberg, ceo of facebook broke his silence yesterday on the data mining scandal that affected more than 50 million users in a new interview. he hinted of regulation and he said he's willing to testify. here's what he said, sir. >> this was a major breach of trust and i'm really sorry that this happened. we need to make sure there aren't any other cambridge analyticas out there or folks who have improperly accessed data. so we're going to go now and investigate every app that has access to a large amount of information. >> will you testify before congress? >> so the short answer is i'm happy to if it's the right thing to do. >> maria: what kind of legislation would you like to see or not see? tell me what you're thinking in terms of new regulation coming on technology. >> well, as somebody who pushes back against a lot of federal regulation, because i think we he have a lot of it already, i think where it concerns the
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privacy of people, particularly given internet and the ex pans e web and all of the potential problems associated with the stealing of intellectual property and the stealing of personal property, those kinds of things, that congress does have a role in this and congress must address at a minimum issues that protect the privacy of everyday citizens. >> maria: so in other words, we will see new regulation, you think? >> i think you're going to see some regulation. you're going to see hearings in washington and you're going to have a regulatory response to it for sure. >> maria: this from people who don't want to see big government but there's clearly an issue here. >> you have to understand, even though people push back against regulations in general, that doesn't mean we're a no regulation type body. we just feel like they've got to be smart regulations and i think congress will get there. >> maria: good to see you this morning. >> good to see you. all the best. >> maria: we'll be watching the developments today. still ahead, stobbing fears of a trade war, president trump set to announce up to $60 billion in
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stiff tariffs on chinese imports and restrictions on chinese investments. what peter novarrro had to say about the concerns of retaliation. back in a minute. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. more dependable...le have discovered something stronger... longer lasting. in a chevy truck. and now, you can too. see why chevrolet is the most awarded and fastest growing brand the last four years overall. current competitive owners can get a total value of over eleven thousand dollars on this silverado all star when you finance with gm financial. find new roads at your local chevy dealer. on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting.
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the most common side effect is bone and muscle ache. so why go back there? if you'd rather be home, ask your doctor about neulasta onpro. >> maria: welcome back. we're looking at markets right now. markets are expected to open down. we're expecting a 200 point selloff out of the gate this morning, extending yesterday's losses after the federal reserve raised interest rates yesterday. the trump administration expected to announce measures
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against china today for the country's unfair trade practices. we're expecting tariffs and restrictions on investmentings. lauren simonetti has the details. >> lauren: these measures are expected to include those restrictions on china's investments and pretty steep tariffs on chinese goods. china has been accused of violating intellectual property rights, pressuring u.s. companies to transfer our technology and our trade secrets. the white house national trade council director peter navarro on this show a bit ago. >> it's an historic day. it's a fundamental shift in american policy towards china after literally decades of economic dialogue and talk is not cheap with the chinese. it's actually been very expensive. because while we've been talking with them since 2003, they've been robbing our technology blind. >> lauren: beijing is expected to retaliate. the wall street journal reporting that china is looking to impose tariffs on u.s.
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agricultural exports like soybeans and hogs. that would target the farm belt and a good part of donald trump's base. massive recall of smoke dedetectiver. kita calling back a half million of them because a flaw can interfere with the device's ability to detect smoke. the recall includes dual sensor smoke detectors sold at home depot, walmart and if you have one of these defective models, please contact the company for a free replacement. and shocking body camera footage shows the crucial moments an ohio police officer saved a choking baby. the officers say they saw the baby's mother stop her car in traffic as her 2-month-old baby girl had milk clogging her nose and mouth. that's when the officer jumped into action. he administered back thrusts to eventually clear the airway. the officer said being a dad of four helped him know what to do and the baby girl is okay.
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liquidation sales at toys r us are set to begin today at most of the company's 700 bankrupt stores. shoppers are looking for bargains. they're being advised to act fast. the popular toys are expected to sell out pretty quickly. the company is hoping inventory is cleared by june. toys r us fel fell victim to one retailers and discount chains and debt from a leveraged buyout. >> maria: an interest rate hike sends markets lower this morning. the ga aftermath from jay powels first policy meeting, that and worries over trade. the karate kid has a new take on the classic sear -- series, nex. ♪
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she had more than enough to ease past stacy bellis. don't forget our coverage of the miami open continues thursday at 10:30 a.m. eastern. we decided to raise the target rate for the federal funds rate by 1/3 percentage point, to bring it to 1 1 3/4. we will gradually scale back monetary policy accommodation, a process that's been under way for several years now. >> maria: that was federal reserve chairman jay powell after the fed's move to raise interest rates yesterday, first move this year, markets under pressure this morning on the heels of that after being weaker yesterday as well, not a significant move yesterday but nonetheless on the downside. joining us is chief equity strategist, bob dahl. good to see you. >> thank you.
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>> maria: you were expecting an interest rate hike. >> absolutely, like everybody else. >> maria: the market, you're not a fan? >> neutral. i think we're in a trading range. we're going to flop around here. the high in 2875 in january and the low 2532 and the correction, that could be the measure we have for months to come. we're going to bounce around. >> if you're an investor and you want to be defensive in a market like this, what do you rotate into? >> higher quality. make sure the companies you own have decent balance sheets and have decent earnings and are not overly priced because valuation matters as interest rates and inflation creep higher. >> the fed was saying yesterday essentially that they think the economy can grow a little more over the next year, a little faster than they thought it could. but they still have a very pessimistic long-term view that we're kind of stuck in the new normal below 2%. do you think they're wrong about that? >> i hope they're wrong about that. look, this tax bill doesn't
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solve all our problems but for the first time the tax bill we've got a couple months ago gives us a chance to get productivity moving. we've been stuck at 1% productivity. if we can get intelligence capital expenditures, which this bill promotes, we can get productivity back toward 2 and then we have a higher growth rate than they're looking at, in my opinion. >> dagen: what about headline risk and regulation risk, deregulation has been a critical theme for this economy from the trump administration over the last more than a year. but you see what's going on with facebook, just irresponsible management with some systemic problems at the company that investors are just noticing. in market like this which looks a little bit rich, are some stocks more at risk of these kind of negative headlines? >> that's absolutely true. we've been in an environment, thankfully, where way haven't wd to worry about regulation. there have been no new ones and some of the old ones haven't been enforced, if you will. now we're in a position,
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facebook is a good example, where we're going to have to take a look and that will cast a bit of a gray cloud over those kinds of companies and perhaps the market as a whole. >> dagen: tech stocks? >> the tech stocks that have grown like a weed, aren't domiciled anywhere and don't pay taxes anywhere, this is a place where the government will look. >> maria: how do you allocate capital right now? >> you de-emphasize some of those stocks. you can still own tech but you own mastercard and visa and cisco and the value side, be a little more value oriented if tech. i think you still have to own some financials, maria. i wouldn't give up on the consumer, selected places are still good. >> maria: are you record read about trade? >> -- worried about trade? >> you have to be worried about trade. a tariff is a tax, period ox, period, period. we've got to find a way to go after china because they don't play by the right rules. everybody sees that, even the free traders. we've got to find out a way to do that. we started with a tariff on
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steel and aluminum for everybody. wait a minute, mexico and canada, you're our friends. we won't go there. maybe not europe. maybe this will get down to china. >> dagen: that's how i see it. i talk about facebook, that potential regulation. i see these tariffs and now companies have to ask for exemptions or even countries. that's additional regulation. you're putting up hurdles and who does that hurt? it hurts small business. this is something that president trump knows. >> maria: even those countries that will be exempt, there will be quotas in place. so you will say okay, canada, you're exempt from the tariffs but here the amount of product we will take in terms of imports. there will be quotas instituted. they don't want over-capacity. >some.>> some of the companies e talking about taxing the tech companies in europe as well. that's a headline that dove tails with what dagen has to say. that's another gray cloud over there that we didn't have before. >> maria: great to see you. thanks so much. coming up, scrutiny over
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self-driving cars, the latest as police release a dashcam video of the deadly crash involving one of uber's autonomous vehicles. behind the mask, jim carey showing his true colors with a controversial painting believed to be white house press secretary sarah huckabee sanders, her father is with us, mike huckabee. we'll weigh in on an unflattering portrayal of her daughter. back in a moment. ♪ dance until the morning light ♪ forget about the worries on your mind. ♪ you can leave them all behind. ♪ hey, sir lose-a-lot! thou hast the patchy beard of a pre-pubescent squire! thy armor was forged by a feeble-fingered peasant woman...
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cme group - how the world advances. ♪ >> maria: welcome back. good thursday morning to you. thanks for joining us. i'm maria bartiromo. it is thursday, march 22nd. your top stories right now, 7:3. tier fears of a trade war sparking worries on wall treat this morning ahead of the announcement on china's tariffs and restrictions to investments in the u.s. futures indicate a decline of 200 points. this after modest losses yesterday after the federal reserve raised interest rates for the first time this year. yesterday's close was down fractional across the board. markets across the globe mixed. the dax index down better than 1%. we did have some manufacturing data out. the flash purchasing manager's
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index out of europe and that is one of the reasons that markets turned lower and the losses are accelerating this morning. also, japan manufacturing under pressure. asia overnight as you can see also weaker. the nikkei average before the economic data came out was up 1%. a new twist in the firing of andrew mccabe. reports say the former fbi deputy director authorized an investigation into attorney general jeff sessions for possible perjury. the subpoena looms, the house judiciary committee set to demand documents on the hillary clinton e-mail investigation. we have the late e. new developments in the uber self driving cash investigation. police released video showing the moments before the collision. and jim carey not quite picasso. the actor turned painter under fire over his portrait of a woman who looks similar to sarah huckabee sanders. an unbelievable moment in parliament. an opposition party set off tear gas to disrupt the vote.
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ralph macchio is returning. he's making a comeback in a new youtube series. first this, fired fbi official andrew mccabe oversaw a criminal probe of attorney general jeff sessions according to abc news. he reportedly authorized an investigation into whether the attorney general lacks candor during his testimony last year. sessions' long-time personal laurie spotted in a statement which reads the special council's office informed me that after interviewing the attorney general and conducting an additional investigation the attorney general is not under investigation for false statements or per gus perjury is confirmation testimony. joining us now is former arkansas governor mike bee. -- mikehuckabee. here's a guy who basically in spying on michael flynn and then releasing that to the press
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committed perjury right there and that is a felony for what he did and he also lacked candor himself and apparently he was investigating sessions. >> there's a statement, maria, something about karma being a -- gee, i can't remember the rest of the phrase. i would say it applies here. it's just remarkable. i think it's fine that he wanted to take a look to see was jeff sessions dishonest but for all the people who are just crying big crocodile tear because andrew mccabe got fired, get over it. andrew mccabe deserved to be fired according to the office of professional responsibility. it wasn't donald trump who fired him. it was the fbi organization who said he had to go. why should he get a pension? if he violated the code of ethics that h supposedly clearly understood. >> maria: i find it really incredible that there are
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1.2 million documents that the house oversight and house judiciary committees have requested from the fbi and they've only sent 3,000 documents. 3,000 documents. that's why they are subpoenaing those documents this week. but how does that happen? how do you blow-off and stonewall the committees that have jurisdiction over you for so long? >> well, that's part of the problem when there's so much power that has been accumulated at the top of the fbi. i think everybody tries to make the point, this isn't about the rank and file. this isn't about the organization. but this is about the leadership and the corruption that has so permeated that organization that they think they have the right to slow walk getting documents over to the oversight committee that they are constitutionally required to be accountable for. it's absurd. i'm glad they're saying here's a subpoena, cough up the stuff. >> maria: jajason chavitz triedt
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too. he didn't get anywhere. arkansas congressman steve womack responded to your tweet. your tweet called out republicans about the federal spending bill and you called it a disgusting bill, just say no to pelosi. here's what he said earlier on the program. >> i was a mayor in a town of arkansas when he was my governor. he was my commander in chief. >> maria: he said the bill was disgusting. >> he can say it's disgusting. that's easy to say from the outside looking in. as i said before, i believe strongly that we have a mandate to provide for the security of this country and in order to be able to get the gains that we did for the pentagon and for national security, there were concessions that had to be made. >> maria: they needed to make concessions to pay for the military, governor. >> well, look, steve is a good friend and i love him. he's a great congressman. but i'm going to just say this. not one republican in that body
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got elected to fund planned parenthood, not fund the border wall, give up for sanctuary cities, trash the second amendment. they were elected to go and do a job that stopped that kind of funding but that did fund the military. so lay it of on the table and tell the democrats we're going to fund the military but we're not going to fund some of your pet projects and you can either be the ones that keep us from having a strong military or you can join us and if you think we're wrong, then you go get elected to the majorities. these guys have got to start learning to play hard ball. they have surrendered to schumer and pelosi and to a minority and there is just no excuse for just giving up this quickly. and if the government has to shut down in order to push that point, then maybe that's what has to happen and lay it around the necks of chuck schumer and nancy pelosi and democrats who think killing unborn children is more important than securing the borders and the security of the united states of america. that's what's at stake and it's time to stand up and do what we
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sent them there to do. if we can't, get different people and let them have a shot at it. >> when i talk to business leaders i hear about fear about the midterm elections and how that can shift policy for the balance of the administration's first term. how could this budget issue play out in the midterms and be used as sort of fodder for beating up some republican candidates? >> i'll be very blunt. if the republicans surrender on this bill and spend that kind of money on stuff that republicans find immoral and unacceptable, then republicans will lose. they will deserve to lose. we're going to have a lousy government under democrats when pelosi goes back and is speaker. it won't be the fault of the president. it won't be the fault of rank and file republicans. it will be the fault of this congress for not having the courage to stand up to these guys and say we got elected. why don't they say what obama did. elections have consequences. and roll that tape over and over
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and over again because i'll guarantee you the democrats certainly didn't compromise with republicans when they had the whole show. >> governor, you make some good points on policies that washington shouldn't be funding but isn't the big problem here also the overall level of spending? >> of course it is. yeah, james, it is. i think that's another issue that republicans went to congress to cut this run-away spending. some areas where republicans are willing to spend, we're willing to spend to build a border wall, willing to fund the military but we're not willing to just say let's have a grab bag and everybody gets to throw in what they want. $1.3 trillion is way beyond what it should be and republicans act like they don't have a choice and they're wringing their hands and sweating blood. well, it's time for them to stand up and say no. again, we got elected. we got elected to do some specific things. here are the specific things.
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and if you don't want to vote for it, we're going to tell the whole country that you thought that killing unborn babies and running up a huge deficit was more important to you than making sure that we had security and border protection. >> maria: let me switch gears, ask you about this crazy photo. look, i know that as a father you're incredibly proud of sarah, your daughter. she has to deal with constant everyday pushback from skeptics. jim carey painted this. the backlash is incredible after posting this photo. it's believed to be sarah huckabee sanders, your daughter. he tweeted out a picture with a caption that reads this is the portrait of a so-called christian whose only purpose in life is to lie for the wicked mondamonster. so the actor drew pictures criticizing president trump as well. what do you say, governor? >> first of all, i think as far as his political leanings, we're
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going to just mark him down as undecided. he just hasn't been that clear where he stands. [ laughter ] >> if he wants to paint a cartoon, that's what political cartoonists do that's one thing. my daughter's a beautiful person inside and out. here's what i take offense to, the fact that he calls her a so-called christian and accuses her of lies without listing what the lies are. and to question someone's faith, you don't hear him talk about a so-called muslim or so-called jew or so-called buddhist. i think it's something that the left takes in vogue is to attack people of the christian faith and some how believe they become judge and jury as if they're the father, son and holy ghost when it comes to determining the authenticity of a person's faith. that's what i find most offensive. >> maria: so rude. >> he doesn't know my daughter, he doesn't know her faith. that's offensive. >> if these people on the left,
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they spew hate at me all day long, if they spent more time trying to get h.r.c. elected, they won't be so a angry. it's asymmetric rage, angry at something in a way that doesn't even make any sense. >> maria: that's all they do is shame people and name call. it's not even a fair fight. it's nothing of substabs. substance. it's name calling, painting a picture of someone. >> dagen: to be fair, trump supporters who are on board with everything the president does like tariffs, i've gotten as much hate from trump supporters when i talk about tariffs being a attacked. everyone needs to check their soul. >> sometimes you're known by your friends, sometimes you're known by your enemies. if those are her enemies, then she's in good shape manufacture
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>> maria: good to see you. coming up, a vote takes a violent turn in kosovo. the chaos after a tear gas grenade is set off in the middle of intense debate. it's time for the 'sleep number spring clearance event'.
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was 'are you ok?' they always thank you for your service, which is nice because as a spouse you serve too. we're the hayles and we're usaa members for life. >> maria: welcome back. police releasing a disturbing video from last sunday's accident when an uber self-driving car struck and killed a pedestrian in tempe, arizona. we have the details. >> lauren: this is video that is tough to watch. it shows the safety driver, the minder, not looking at the road in the final moments before he hit a 49-year-old. this is believed to be the first fatal crash that involved a self-driving vehicle and a pedestrian. uber has suspended testing of itself-driving vehicles. toyota has also halted tests on public roads. it begs the question, if you're minding the vehicle, do you have to pay attention at all times even though it's autonomous?
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all right. take a look at this one. some opposition lawmakers in kosovo firing tear gas in the parliament chamber. they wanted to block a vote on a border deal. despite the a attack, the measure was approved in an 80-11 vote. the border deal is set as a precondition by the europe union for kosovo citizens to travel within the visa-free zone. and let's lighten it up. 34 years daniel russo learned to wax on and wax off i off and his rivalry lives on in a youtube series. >> think you can bring this back to the valley? not on my watch. >> do you want the kids at school to keep dumping things on your head? you want all the kids to think you're dork? >> lauren: youtube released a
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trailer for the new series in which the actors reprised their roles. it premiers on may 2nd. it takes place in a car dealership in the future. >> maria: all right. lauren, thank you. >> yeah, baby! >> i knew you were going to say that. >> maria: coming up, bidding like it's 1999, your chance to buy a piece of prince and other music legends. a firsthand look at the iconic items hitting the auction block, next. ♪ purple rain, purple rain. ♪ purple rain, purple rain. it can power your apps with public services
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♪ this is thriller, thriller
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night. ♪ no one's going to save you from the beast about to strike. >> maria: from michael jackson to elvis presley and prince, iconic celebrity items are coming to the auction block this weekend at gws auctions. we have some of the big items on set. joining me is bridgette cruz, owner and chief auctioneer in los angeles. good to see you. i love that you brought all this stuff. we're going to go through it. how did you get into the auction business? >> it was a family business. i'm fifth generation. i don't think i had much choice to get into this business. it's a labor of love. >> maria: you must love it because you've got all of these beautiful things. what moves the price in terms of some of these items? >> that's a great question. it's mostly trends, what's popular, what's not. you kind of have to follow it. it changes from time to time. there's certain categories that
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are time. >> maria: let's start with the prince, purple overcoat used by the late prince during the filming of "purple rain." tell us about this. >> this came from the daughter in law of one of the set designers from "purple rain." i believe it grossed over $80 million in 1984 which was unheard of. >> maria: would you. >> with the waist detail and the pearl inserts, it's a lovely piece. >> maria: what do you think this will go for? >> prio we're predicting in the0 to $5,000 range. >> maria: when people buy these items, they do it to collect and put them somewhere where they will save them and cherish them and make sure the value stays. you're not going to wear it. >> definitely. that's something we do that's a little different. we actually make sure these pieces are perfect by the time they get to the bidder's hands. if we have a successful bitter, we want to make sure they receive the most pristine asset possible. >> maria: let's look at this one, one of the rare left handed version of michael jackson's
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trademark glove. tell me about that. >> this is what they consider the second generation michael jackson glove. there is the bill whiten glove. he helped michael jackson create the first generation. this is the dennis thompkins area, the second generation glove. this was during the time when he married lisa marie. >> maria: the other one that we want to see, michael jackson item is the fedora. >> he made an empire out of fedoras. >> maria: they're both his? >> yes, they're both his. there was a gentleman who made a donation to one of michael jackson's charitable foundations. in kind, he gave them three if fedoras. so these are two of those three defor rays. fedoras. they come with a letter of authenticity. >> maria: this bid starts at $500? >> correct. >> maria: you have an army book owned and autographed by elvis
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presley himself. >> this is one of my favorite items. at the time, in 1958, when he went to germany, a lot of people think that that was kind of a turning point for his career because they say that he never quite came back the same. but what makes this piece so special is this is when he met prpriscil la in germany. this belonged to someone who served with him. he said would you please sign it. it's never been offered at auction before. >> maria: what do you think this starts at? >> bid is currently $3,300. i think we might end up in the $5,000 range by the time we have it auctioned. >> maria: that's an interesting item. >> it is. >> maria: the blue fur smock worn by lady gaga on "american horror story." this is fabulous. >> this was also worn by haley
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berry. this came from a wardrobe house in hollywood. >> maria: why do you have it after those two celebrities wore it. >> a lot of places have to do asset management. they have to take care of the assets. we were fortunate enough to be the one in line. >> maria: the pair of sunglasses worn by the late steve mcqueen? >> oh, yes, he was known for the folding sunglasses. we're excited about those and the bid is already over $5,000. >> maria: very cool. thank you. the auction begins? >> saturday, 10:00 a.m. pacific. >> maria: thanks so much. we'll be right back. stay with us. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪
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whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you.
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i had severe fatigue, became diagnosed with hodgkin's lymphoma.
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he was a good candidate for immune therapy, which is allowing his immune system to attack the tumor. learn more at >> welcome gook good thursday morning. thanks for joining us imagemap. it is thursday, march 22 top stories 8:00 a.m. on the east coast apology status facebook ceo zuckerberg speaking out over growing privacy scandal he calls it a major breach of trust. >> this is a major breach of trust. and i am really sorry that this happened. we have a basic responsibility to protect data if we can't do that then we don't deserve to have the opportunity to serve people. >> fallout for the technology sector as zuckerberg says he is willing to testify before congress if necessary, the race to avoid a shutdown lawmakers reaching a tentative agreement on 1.3 trillion-dollar spending bill, to keep the government running, built do they have
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the votes in the latest congress scrambles to pass a bill before midnight tomorrow, concerns over trade, weighing on stocks this morning, futures down 200 points, this right here, this is the lows of the morning down almost 1%, the bank of england leaving rates unchanged that headlined the nasdaq down 80 points a tough opening this morning weakness yesterday on federal reserve's move to raise interest rates for the first time this year under new chairman jay powell that was expected but markets traded down anyway in europe this morning breaking news, bink of england left interest rates unchanges as you can see the markets down across the board. there is a weak purchasing managers' index earlier, the european union slashed pmis weaker than expected to set the tone for weakness, now the bank of england coming out leaving interest rates unchanged that was as expected. in asia overnight mechanics performance take a look the worst performer hong kong, hang seng down better than 12% in japan nikkei up 1% joe
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biden on the attack, the former vice president has harsh words for president trump says he would have beaten him up in high school the strong response from our commander in chief this morning, and then forget the carol car. >> elon can charge anything he wants the pay package tesla board approved those coming up thursday morning to break itdown dagen mcdowell, pwc partner, the assistant he had for miami page editor great to see you. >> good show a lot on table. >> markets down we have heard three times this morning, the show tariffs are tax, that is -- >> we have heard three times, the same thing. dagen: anybody who has already prewritten hate tweets at me for thinking that you can direct it right to mr. -- underneath -- >> the other guests said thing sang. >> board has had opinion on
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tariffs. >> feel like downside i would say that -- >> [laughter] >> the theft of american technology is the business model of china, so if i were going to address a trade issue, that is the one, i hope they focus on that, i hope they can talk to europeans out of this new tax on tech revenues, but that demands a response i think first step take the case of wtf. >> there are 10 sectors in china deemed off limits, to foreigners you can't even invest defense, financial services, do you think we are going to see that kind of reciprocally move when president announces at 12. >> certainly they are threatening the trump states, they want to -- tax -- soy beans agriculture products coming into china, i think it is a reasonable expectation when you start this -- effort that there is going to be a response but in the case of china stealing our technology, i think they have a better taste than they do when they
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talk generally about trade deficits, which don't matter. >> everybody gets it. >>. dagen: when you talk around numbers talk about trade deficit with canada only if you if you excluded services -- academy, they want to focus on the goods, trump administration has a problem that they treat like the only decent job dm this country is manufacturing job there are a lot of folks voted for the president who don't work in manufacturing. i think that is a problem. >> we will talk about that, joining the conversation utah senator finance committee chairman orrin hatch former republican presidential candidate herman cain host of "varney & company" stuart varney weighs in don't miss a moment we kick off white house agenda president trump will announce actions against china out adam shapiro at white house with details, good morning to you. reporter: good morning to you maria president expected to sign a memorandum to address chinese economic aggression
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12:30 this afternoon look what is at stake u.s. exports to china more than 15 billion dollars in grain seeds fruit, about about aircraft boeing aircraft parts 15 billion dollars electrical machinery vehicles you see the numbers there, 12 billion, 11 billion, now we import from china, more than 129 billion dollars worth of machinery as well as furniture bedding 29 billion dollars toys, forest 4 billion dollars footwear 15 billion dollars chinese are expected to outline potential about retaliation that would hit the ag sector specifically, what is going on here? well, u.s. tr lighthizer was testifying on capitol hill yesterday and he was saying, that we need to stop the economic aggression against the united states, he is expected to give that same message today, when he testifies before the senate finance committee in his own words here he is. >> our view is that we have a very serious problem of losing
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our intellectual property which is really the biggest single advantage of the american in my opinion. >> then the chairman house ways and means ken brady chairing the hearing yesterday by lighthizer. here lighthizer here is what he had to say about tariffs. >> you have to make sure we don't punish american families and workers, for china's misbehaviors oftentimes not the right approach -- >> the chinese premier xi jinping has responded said what i hope that is we can act rationally rather than led by emotions to avoid a trade war one last thing at white house after 2:00 the president will meet with millennials generation, listen to concerns about future. maria: thank you adam shapiro with the latest there we are going to hear on aluminum and steel tariffs as well in they did of exemptions waiting on
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announcement as peter navarro suggested earlier, former presidential candidate folks news contributor herman cain good to see you, sir thanks so much for joinings us. >> thank you. >> your reaction to the new tariff and restrictions coming on china? >> the first thing i would suggest is everybody take a chill pill! this is how you get the chinese to the table. we have we know trying to play nice, would you please come to the table so we can talk? well, when you impose -- a tariff i agree with others on your panel it is a tax, this is how you get them to the table, this is how you have serious talks about leveling the playing field, but take a chill pill, the sky is not falling. we don't all know what is going to happen, but i think this is an excellent tactic to get people to the table to talk. . >> i'm heran e a-- herman dagen mcdowell it is going to go back to being in debt the chinese in terms every us as a
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nation needing to continue buying our debt we can talk as much as we want but at the end of the day, when you have republicans and democrats in washington passing a budget, that is going to now send us into the territory of ring one trillion dollars deficits every year, you know what? our talk is cheap. our debt more expensive. >> let me just before you answer that let me just say we have news the house fraem caucus initially against the spending bill so we've got that, they are now, pushing back saying they will not vote for the spending bill please go ahead herman. >> i agree with the freedom caucus i would vote against it also secondly talking about the budget, if upper president trump, i would shut the government down if that is what it took, because here is what will happen. it will give us an opportunity even though we know the media is going to lean one way, to show what is wrong with that budget. i agree. it is absolutely too much money the republicans are giving in to too much, and i
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believe, the only way for the american people to know how bad some of the bad things in it is to shut the government down. now, dagen you are exactly right, with the chinese -- -- money gives leverage chinese having a smaij surplus coming from united states, we have a deficit that gives them leverage, so we've got to establish leverage and in order to establish leverage sometimes you have to take risk, and i believe that this administration is taking some calculated risks to get to the containable jay money talks and blah, blah, blah walks that is all i have to say. >> -- dagen i am agreeing with you! dagen: i know. maria: a i am agreeing with you. dagen: that was exclamation point herman that is all. maria: herman james from he-man "the wall street journal," i want your thoughts on jo biden's approach to
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donald trump, potential 20-20 rivals talking how he would have betten up mr. trump in high school -- you watched the last presidential go around where a lot of people couldn't figure out how to deal with donald trump didn't know how to respond. do you think biden is on the right track here? >> if not even worth talking about. let's talk about the stock market. let's talk about the lowest unemployment rate in long, long time let's talk about the regulatory rollback let's talk about the fact that this economy is booming let's talk about the fact that in january 16% more open jobs were there than a year ago, see, this is way call a shift the subject tactic on the part of the democrats. when they have nothing to talk about, they shift the subject. so what -- former vice president biden wants to do is shift the subject, to stuff that does not matter. and there will be no backyard
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brawl, and if it were, we know who would win, it is not even worth discussing, let's talk about the substance that is where i come down. >> president trump responded to joe biden's remarks a tweet this morning here is what he says, herman crazy joe biden is trying to act like a tough guy, actually he is weak, both mentally and physically and yet threatens me the second time with fulfill assault does not know me would go down fast and hard, crying all the way. don't threaten people joe. so you know, the president is right there. i mean he is you know fieblfigh back. >> counterpuncher. >> counterpuncher i think tweet says it all in terms of what would actually happen. but we all know that is not going to happen. so this is why i am saying, about i don't even want to talk about it here is what i want to talk about, you know when i mentioned 16,00016% more jobs, open jobs created
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in january, and only 2.3% of them are filled we have a gab, joe biden talk about filling steel gave at you to to have on getting ready for robust economy. dagen: i want to add that make about the suggestion in a instead of one of the presidential debates in -- 2020, that we have like fisticuffs between two candidates, [laughter]. dagen: get all the more than to chairt if joe biden nominee give it to cancer research i guarantee he would do it. >> pay per view exactly. >> one thing ratings would be through the roof. dagen: depp. >> american people don't learn leader of the free world in a tweet storm, with joe biden should the average guy or gallon out there say to
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themselves what -- let's talk about important things, and why am i watching this take place here? >> should we be worried about this kind of behavior? >> well -- i would agree this is why i say it is not even worth discussing at length which is why i try to move on to talk about substance, i am more concerned about this bad budget that they are about to pass. because the republicans are scared to content they are going to get blamed for it, as i suggested, the president ought to veto it so american people have time to see all of the bad stuff in this budget i understand, the process, and this is why the republicans are essentially caving but the american people would be the know all the bad stuff that go along with good stuff unless we shut it down for a while. that is what i would do. maria: dagen: i was going to say congratuitouslyly call to vladimir putin more disturbing
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than potential fisticuffs talked about on twitter. >> federal reserve to raise interest rates break down reaction on the heels of jay powell's first meeting as chairman of the fed back in a moment. ♪ and in the nation, we need to work together. we need to do it more often to help people that need help. ♪ ♪ i'll stand by you. fvo: he's encouraged other people to look around and notice one another and take the time for each other. that's his gift. ♪ i'll stand by you.
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maria: austin bomber a detailed recording of deadly plan lauren simonetti. >> good morning. >> good morning, maria. authorities found a trove of bomb materials and recording in which mark antonio conditt
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confessed listed future target intending to blow up authorities say he never mentioned a motive. >> i know everybody is interested in a motive understood youi understanding why never able to put a ration behind action does not at all mention anything about terrorism, nor does he mention anything about hate. but instead, it is the outcry of a very challenged young man. >> police say no further threat from conditt but add the community should still remain vigilant. >> millions right here in northeast starting to dig out from fourth nor'easter less than three weeks as spring gets under way dumping more than a foot of snow in parts of the area knocking out power to tens of thousands of ames airports canceled over 5,000 flights yesterday 1600 today i
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guess i have to a possible fifth nor'easter would arrive sunday tesla shaerndz a massive pay package for elon musk voluntarilied 2.6 billion dollars to start could grow to deliver more than 50 billion dollars to musk tesla market value needs to skyrocket to 650 billion dollars over a decade. right now, tesla value is 54 billion, musk has to stay on as ceo or executive chairman chee officer in order to get payout, tesla shares up 25% from a year ago. finally lovers of taco bell mild and fire sauces have this to mull on sung chichips rollin to grocery stories starting in may on in they could be good, yum brands parent company up
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over 30%, i am not too spicy maybe guacamole. >> a price hike to breakfast consumers would take up for seller yalz cheerios. >> dwight howard dominates history performance for basketball player last night later this hour back in a minute. ♪ ♪ of been everywhere man i have been everywhere man, cross the deserts, the mountain i traveled had my share man i have been everywhere ♪ i have been to reno, fargo ♪ one moment can change a life.
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look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. projections of the appropriate path to the federal funds rate reflect the our gradual approach, the medium projects
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for the federal funds rate 2.1% the end of this year 2.9% end of 2019, 3.4% the end of 2020. >> federal reserve chairman jay powell yesterday laying out goal for rate increases through 2020, futures are edging lower a decline 200 points today, down almost 1% on dow industrials, following meeting concerns on trade also weighing on markets that morning, joining us now to weigh in mainstay capital management founder ceo chief investment strategist good to see you thoughts on markets take on fed impact on markets? >> well, we yesterday, we i think we got what we expected we got confirmation that the fomc sees our economy as strong and strengthening, and, you know, the rate hike that we got was expected we expected two or three more, this year. what the news that -- maybe concerns some market participants is more aggressive stance as we get
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into next year the year after. >> one of the things that i was expecting to hear more about fed balance sheet what a they are going to do about that what plan to unwind is especially as investors sort of chased shields is unwinding balance sheets going to mix up the way investors are behaving in years to come. >> yeah the unwind, great, great point, the unwind of the balance sheet maybe as important or more important than the interest rate hikes. unwind started last october, and as we continue there is two problems there is in winding a balance sheet unwinding balancesheet an increasing need for more -- >> we need. >> trillion dollars. >> right. >> so we have been calling for higher interest rates, interest rates clearly going higher, as a result of the fd, this year quantitative easing arrange the world with net
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quantitative easing to quantity tasty tightening global rates rising the path is clear desktoply and abroad rates go approximating higher. >> you like technologies. >> the i do. >> that is because you this i this talked about regulation is not going to map not that heavy or because you think it ends up benefiting heavyweights. >> i think that you know we're looking at a small slice of the technology sector really even small slice overall ecustomers intentstocks facebook has a problem a series problem dagen talked about earlier on the show. the stock is down 8 1/2% probably down 10% this week when market opens, arc web, in the same type of stocks high-tech, positive on the week. and we think that the second lar growth story wins out even a problem with specifically facebook maybe regulation
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coming maybe a tax from eu. >> would you buy on this 10% decline expecting on the week. >> i would wait on facebook i think we need to see where this goes. you know we talked about mark zuckerberg said maybe we should be regulated start with soft regulation dagen: i have been -- saying that, for years and years and years exone more of these problems develop not last 18 months this is going on for years in terms of them not protecting the people who use service not protecting their information ignoring, like launching products for these users, and not thinking about the consequences, i said hey, you are asking the government to come in your front door, the backdoor, and threw the -- through your garage. and that is exactly what is going to happen. >> they just have not done enough in self regulation. dagen: right. >> should start there. maria: in terms of of the backdrop, you agree that earnings will still be up 18% for 2018. >> yes. >> most analysts are expecting that because of the tax overhaul because of the fundamental backdrop the roll
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back in regulations what etfs do you like in terms of benefiting or individual names. >> so we talked about technology, the secular growth story in technology we like financed through etf xlf with interest rates rising deregulation rolled back a softening of the dodd-frank provisions other regulations on banks so we like the financial services sector. >> we leave it there a great to see you thanks so much, coming up utah senator finance committee chairman orrin hatch joins me will we will in on president trump agenda a lot more. >> why the retail giant will stop selling mobile devices back in moment. ♪ i'm every woman ♪ ♪ ♪
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maria: welcome back. good thursday morning. thanks so much joining us. i'm maria bartiromo. it is thursday, march 22 top stories right now 8:30 a.m. on the east coast. it is time for tariffs president trump set to unveil his trade plan, targeting chinese imports, putting in place restrictions investments by china white house national trade counsel president peter
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navarro explained why the administration is also focusing on investments not just products. >> the investment restrictions are every bit as important, we have literally a trillions of dollars state financed money coming into america, plus the best of the best in silicon valley boston austin in terms of high-tech kind of things that threaten our future. if we allow china to basically examine you are the energies of the industries of the future we won't have a future. maria: fears of a trade war sparking worries on wall streets markets looking at a tough day at the office. dow industrials set to open down 200 points, right out of the gate this morning down three quarters of a percent nasdaq down better than 1% 73 points lower losses yesterday across the board federal reserve raised interest rates fed raised a quarter of a point dow yesterday closed down 45 s&p down 5 nasdaq down 19 global markets this morning are mixed mostly lower take a
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look ft 100 down 80 points that is the low of the morning, down 80 points 1% lower cac quarante paris down 1 1/3% dax in germany down better than 1% we did have a weaker than expected eurozone purchasing managers' index out this morning in yaishth mixed performances take a look nikkei average up in japan 1% the other majors down, across the board. best buy taking its stance on china, the company reportedly says it will no longer sell smartphones made by huawei, inflation if a errs to breakfast table general mills warning of higher prices for favorites including cheer yos, unexpected hit from spending bill, minor league be able players may blows rights to minimum wage. >> howard 30 to 30 historic night on the court last night. >> the first this targeting china president is expected to announce up to 60 billion
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dollars, worth of tariffs on chinese imports this afternoon, part of a major effort, to curb the theft of american technology and intellectual property. it is something white house national trade counsel director navarro told me this morning is long overdue. >> an historic day this is a fundamental shift in american policy towards china, after literally decades of economic dialogue, and talk is not cheap for the chinese it is actually very expensive because while we have been talking with them since 2003, they have been robbing our technology blind. maria: joining me to talk more about that senate finance chairman senator orrin hatch good to have you on the ram thank you program thanks for joining us. >> i want to talk about this convening a senate finance committee meeting with mr. plight light to -- mr. lighthizer on this you disagree with president on steel, aluminum tariffs. >> i really do people are going to pay for that american citizens not going to do any
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good in the international trade wars i think we've got to out compete them, you can't do it just by slicing tariffs never worked before i don't know why it is going to work now i just don't agree with peter navarro. >> you go through some of the list of our partners across the world, and there are deficits across the board, 75 billion dollars deficit with china 150-billion-dollar deficits with europe just you know germany alone 70 billion does that not matter. >> of course, it matters we've got to do a better job of competing with those people one of the problems is that the government subsidized their trade and that makes it very, very difficult for us. so it is not fair certainly not free and fair trade but i'm not sure that you are help setting up tariffs i don't think going to work i think in the end will will hurt us pretty badly.
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>> how much of this o do you believe is the president negotiating? because we know first it was okay, aluminum and steel tariffs are across the board, and then it became well there are going to be a lot of exemptions, canada exempted europe will be exempt, a number of other countries, argentina, australia, so what do you think about that? if i mean that is where peter navarro and company will push back on the negativity around. >> it when they came out with ideas i thought what luny ideas upset about it so i am pleased that the president is backing off to a degree, look, i don't agree with mr. navarro i don't think that he is living in the real world and frankly, i think he is misleading the president, but the president buys off on some of this too he is i tired of being pushed around by the rest of the world, and i don't blame him but -- this is not the way to beat them best way to beat them out compete them. >> how do you do that. >> and what do you want to
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hear from robert lighthizer today testifying before your committee senate finance committee. >> bob lighthizer is a really fine ban n going to do whatever the administration wants him to do, i expect that he will try and back this type of thing we'll see what happens, i don't think -- i don't think he is going to have a really you know, really soft reception, if this is the type of trade prach they are going to take. maria: what will be the impact to the economy? let's say we do have they tariffs that are going to be completed beginning tomorrow by the way, do you expect that there will be an impact? what is the biggest impact higher praises for goods for consumers? higher prices for business? or what? what is your big worry in terms of -- >> all of the above. maria: okay. >> because other countries are not going to put up with it, it is it is i think it is ridiculous between you and me we should out compete them we can do it we have the ability to do it. we just have to get the government off the backs of a
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lot of our businesses so they can really compete. maria: having -- >> go ahead. maria: please finish your thought, sir. >> well, we need to we need to compete well and we need to -- where using bad trade practices against us we ought to hit hymn where it hurts. >> having said that you do agree with some pushback on china; right? ? today the president will come out we are expecting to be not just tariffs against china, but restrictions, in terms of chinese ability to invest in american businesses. >> well i do agree with some pushback i am not sure those are right ones but the fact is that, you know i am very supportive of the president, normally, and i want to support him, and probably will. but i am very concerned about getting into trade wars that really put us at a tremendous disadvantage. >> are you expecting retaliation from china once these are announced today? because you say you are you agree with targeting the bad actors like china with tools that we already have in place. >> right well, yeah, i expect
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pushback from china i don't think there is any question about that the question is are we in a position economically to really fight them? and, about we've been going downhill in the last number of years, and we've got to pull our country back up get it on seat get the -- you know get these bad things out of our economic system, and i'm counting on the president to lead that fight and get that done. maria: just to be clear, sir what should be done, with regard to the china i want to point your attention to the fact the markets are really roiled over there right now lows of the morning scenario hatch. >> i know. >> dow industrials down 250 points or 230 points where we are right now, so tell me what specific moves would you like to see with regard to this to china if not what we are talking about here? >> well, would i be last to tell administration what to do. i think bob lighthizer does understand this pretty well. as our trade representative, and i -- i would hope that he
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would weigh in more heavily than he is doing right now. i do believe that the president has good intentions he wants to pull us out of some messes that we are in but i am not sure you do it starting a trade war with china. maria: senator let me switch gestures ask about spending bill obviously congressional leaders reaching a tent tiv agreement 1.3 trillion-dollar spending bill a vote yet to come, but we're expecting a vote in two days to avoid a shutdown, house he freedom cause of acti house freedom caucus opposing are we headed for shutdown. >> i hope note we've got to curtail this the excess spending we are doing a way to boost american economy businesses all over the world, and you don't do it by tariffs and uncompetitive type approaches we have to compete that simple i think we can but we can't just sit back being a like it isn't going to happen. maria: so senator governor mike huckabee tweeting out
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earlier he said i am going to go on "mornings with maria" i am going to let loose on gop for collapsing surrendering to o pelosi and schumer on engulfing spending bill not a xhom it is capitulation to boro a phrase from nancy reagan he says just say. >> what should congress be doing? if you are handcuffed in terms of 700 billion dollars for defense spending you want to have that money, but you are handcuffed in terms of domestic spending colleagues on left want, how do you square that at a about circle. >> well good for governor huckabee raising a very, very important point frankly until tough around here the problem we don't have votes, we don't have the strength of the voting to be able to turn this mess around. we just really need to elect more conservatives in this country who are willing to do the tough voting that we have to do to bring this country back, and get our economy back on its feet, right now, all of
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the incentives more spending more government more regulations, more approaches like that literally are killing us i think we've got to we've got to start fighting book but unless the american people are going to elect enough people to really fight back, like this -- we are going to get put up with this kind of stuff next 10 years i don't want to do it. maria: should you just let government shut down then how do you fight back? >> you need 60 votes. >> well, that is right, i mean i am not real about government shutdowns i am about letting the administration know there are ways of doing things ways not to do things. maria: yeah. >> i do think that it is up to american people if they are going to continue to keep congress at a competing equal level with liberals conservatives so that we've got three or four emotion liberal republicans going with the you a liberal democrats we can't get anything done, then we are going to have trouble we've got to elect more
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conservative republicans if we do that then would i put all blame on republicans nor not turn it around if we have enough votes to be able to do it. maria: are you able to could it coming into midterm elections a midterm election next several months about november do you think more conservative members? >> well if we don't we're not going to get these under control, because it is just too ease for moderates the republican party to go with democrats keep spending going the way it has been going all these years, sooner or later got to face these problems the only way you are going to do it to get tough conservatives willing to stand up make right decisions. >> do you have a plan in terms of getting arms around the entitlements do you have a plan in terms of of reining debt lowering spend being. >> of course, i do you the about it does take votes right now we don't have votes. >> senator good to have you on practice many. >> great to be with you you do such a good job. maria: i so pressure that sir thank you very much we will see you soon senator orrin ratch cheerios could cost more
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general mills raising prices on some products, that is next, facebook fallout stuart varney weighs in on backlash of the social media company. back in a minute right here. ♪ ♪ ♪ like the way -- ♪ ♪ got the music ♪ ♪ oh! there's one. manatees in novelty ts? surprising. what's "come at me bro?" it's something you say to a friend. what's not surprising? how much money matt saved by switching to geico. fifteen minutes could save you fifteen percent or more.
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maria: breaking news house freedom caucus sending a letter to president trump, asking him to reject 12.3 trillion-dollar spend heing bill what the letter says in part mr. president we urge you remember countless forgotten men and women of america placed faith in you to change business as usual in washington, d.c. we urge you to join us and reject the omnibus, we show you markets actually as this nice is coming outs hitting tape markets worse ink expecting a sell-off 300 points opening of trading, concerns over trade weighing
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on investors, we also have the federal reserve obviously beginning this interest rate string of hikes expecting fed raised quarter point yesterday as expected definitely the trade story that is worse ink markets this morning, there is general mills under pressure as well rising costs logistics, inflation, eating into profit there, that completeness your grocery bill may go up nicole petallides on floor of the new york stock exchange watching all the above, tough day at office today. >> indeed looking down almost 300 points ontario as you mentioned general mills, yesterday we stood here talked about quarterly report talked about freight costs on rise shortages trucks drivers shipping costs up not only general mills also for many others such as tyson, also hormel, bmg, translating rise cost to customers interesting to see whether or not general mills will do much the same as saying that regulations prices an some meals snacks to
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reflect the higher ingredients shipping costs, stocks hit 5-year low yesterday down 12/120 of 12% this morning best buy cuttingtize with china huawei third larged behind apple and sum sung about u.s. scrutiny of chinese tech firms, at&t verizon stepping back on that deal. >> thanks so much, nicole petallides want to look at took because ceo mark zuckerberg says he is sorry he is not helping the stock though the stock is down another 2 1/2% this morning, we just heard could be down 10% on week he addressed the growing privacy scandalized that allow outside firm cambridge analytica. >> stuart varney to weigh in. >> good morning i think this is one more negative contributing to the 300 point loss for the dow industrials likely to see at opening bell
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it wasn't much apology really didn't go very far, and he is saying look, he could be okay, with some form of regulation. that is interesting. that opens the door. it is kind of an mission there antithat much regulation right ain't in a much right now maybe more is required what a he said yesterday with this so-called apology i think is contributing towards a downside move for all of the big name tech stocks when you throw in this trade possibility of a trade war, chuck that in, also from the federal reserve yesterday, which is hinting at very strong economy maikts of a downside move and half when market opens. >> looking at 300 point sell-off i know you will galvanize gawill. >> navigating that. >> a familiee ruiniteed at the spurs game last night.
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maria: big affair college debacle fans sweet 16 begins jared with the story. >> hey, 16 schools are left in the big dance only 12 will remain after tonight, and then the following swoot 16 in at atlanta los angeles, first up 7:07 eastern atlanta ramblers loyola chicago against nevada 30 minutes later l.a. michigan third seed of the weather
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favored to beat texas a&m kentucky will play nine seed kansas state features gonzaga favored beat florida state howard charlotte hornets did something no nba player had done since 2010, a 30-30 game 32 points, 30 rebounds. the hornets beat brooklyn nets, for me never gets old seeing military families reunite especially a surprise like san antonio is a-spurs game last night. >> -- see the [cheering and applause]. >> military appreciation night receive men and women back with home and family in san antonio after time in south korea active duty released 40% off ticket price part of 1.3-billion-dollar spending bill president trump must sign by tomorrow to keep government
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running minor league baseball players stand to o lose minimum wage rights could leave some earning as little as 1100 dollars per month, to play baseball trying to make it to big leagues bidding to buy carolina panthers from richardson reached a figure never before paid for american pro sports franchise 2 poi.5 billion dollars, steel and mining industry executive alan has third richest man in canada in his group as part of a team trying to buy panthers bidding not rubin's group out of the mix may include warriors all-star steph curry also rapper diddy. >> any bidders able to take panthers to super bowl. >> all about players who get to super bowl going to be interesting when you look at 2.5 plan, forbes valued
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panthers 2.3 billion last year, so we are getting to see a little bit of maybe inflation in nfl what is the team worth and is this a time to be overpaying for an nfl franchise we are going to have three professional football leagues by 2020, though in other side a lot of people saying how far can football go with all that we know about the brain injuries that go with it? so interesting to track where the money goes on n this sale. dagen: a guest on this program guy owns operates phonetics incredible entrepreneur operator ceo don't overpay as much as i like north carolina. >> reportedly dropped out ruby that i know group with steph and diddy. >> controversy last rear, this is obviously still rich guys ultimately to i. >> toy. >> sure. >> jared max sports reports 24-7 or radio sires xm 115,
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>> welcome back. final thoughts on this all-star panel. >> well, the possibility that the terrorists are using social media has kind of been a low level scandal for the
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last few years. but the fact that trump used social media got washington upset. >> yeah. exactly. >> we don't want a trade war. >> yep. >> markets are going to be low. >> markets are going to be down about 300 points this morning. "varney & company" has you covered on that. stuart varney, good morning. stuart: yes, we do. good morning, good morning, everyone. first thing today our president tweeted this. crazy joe biden is trying to act like a tough guy. actually, he is weak. both mentally and physically. and yet he threatens me for the second time with physical assault. he doesn't know me, but he would go down hard and fast crying all the way. don't threaten people, joe. yesterday joe biden said he would beat the hell out of donald trump if they were in high school over his comments about women. the comments rose to joe biden's bait. what will they think of the


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