let me recent commerce secretary wilbur ross' comment upon arrival in davos. while there's been a trade war in place for quite a while, the difference is u.s. troops are coming to the ramparts on this war. your immediate thoughts on that? >> well, rockwell automation certainly supports free and fair trade around the world because we think under those circumstances, we and our customers can compete and win. liz: yeah. i would think that free and fair trade, it works in your business because 80 different countries, right? you import parts, i'm sure you export things. talk about the supply chain and how it's changed over many years. >> well, essential philosophy of our chain is to be close to the customer. while we still have significant amount of manufacturing and our intellectual property talent in the u.s., we do business around the world as you said in multiple countries. we had development and we have manufacturing in some of those locations where it's important to be close to the customers as well. liz: the president signed yesterday a pretty stringent trad

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

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

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

he was joined by commerce secretary wilbur ross who said nafta talks were reopening last night gary cohn said trump's message would be that america first does not mean america alone. >> we're going to the world economic forum to share president trump's economic story and to tell the world that america is open for business we want the world to invest in america and to create jobs for hard-working americans president trump's economic agenda has unleashed the u.s. economy and we're growing. >>> despite that message from the white house, there has been an outcry, a collective outcry here at davos over the trump administration's latest protectionist measures, slapping tariffs on solar imports speaking this morning, ceos and policymakers emphasizing the importance of open trade >> global trade is a great and important mechanism for economic growth so when you start to implement tariffs, you have to be careful about unintended consequences. >> the u.s. economy is very strong that is an excellent sign. it's an excellent sign for companies like ourselves doing business in the u.s., but also for t

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

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

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

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

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

so good for wilbur ross. we'll talk about effect on markets. news today, starbucks is handing out bonuses because of the republican tax plan. get this, liberal media and democrats can't seem to give the president any credit for optimism out there or any great things companies are doing because of tax reform. wait until you hear what one reporter said to gary cohn. we go to blake burman out in davos where president trump will address leaders. reporter: hi, trish. it is a bit of a tricky spot for the administration. you know the america first, american workers american manufacturers, american companies, american interests, et cetera, on down the line and here they are at davos. along those lines treasury secretary steve mnuchin tried to throw a little bit of olive branch as he began his participation, and i quote. this is about a america first agenda, but america first does mean working with the rest of the world. the administration continuing to signal that it will crack down anywhere they see fit what they view as trade abuses. you were talking

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

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

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

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

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

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

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

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trump could triangulate the issue and actually do something bipartisan wilbur ross founded international steel group. genuine national security concern because of chinese dumping. knows from personal experience what he's talking about. could be a textbook regulatory capture, private industry takes over from the market perspective, even better news committee of foreign investment just blocked jack mauz financial. money grab supposed to be friends with trump, was this a dangerous challenge to the united states i don't think so, i think it's a shot across the bow. i said this potential would cause faux trauma. it is more than likely that the chinese cave and work with trump. i think they're actually scared of the guy wouldn't you be? we're a great market for chinese goods. why sacrifice that for the good to have state-owned mills gin out steel and pollute already despoiled air. think will happen. terrific tell for what is ahead, nucor missing estimates. because of chinese dumping what am i trying to do i want the steel industry -- understand this. i want to steel you for the steel industry'

some people say it is extraordinary how strong the language was coming from wilbur ross and the treasury secretary yesterday. there was a strong message but what they are after is looking after america. businesses responding quite well. if you hear some of the us business leaders here at the forum, they have been talking it up and they are quite positive about the impact it will have. for lloyds, we have been doing business in the us for hundreds of years and it is our biggest market. if business does well in the us, lloyds does well. there will be opportunities for us to work with the us. however, it is the challenge to this globalisation, the question it is asking about protectionism. us, we'd talk about the need to break down detection is. the essence of our business is about sharing risk across the world, from australia to the us, latin america, japan, china. that is how the ecosystem works. is everybody works just within the national boundary, i think we will be headed for an unpleasant world in the future and it will have a major impact on the economy. in the short term, christian

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

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

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

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

>> it's quite possible we could see wilbur ross part for a number of reasons. we haven't seen a lot of movement on the types of trade deals that president trump said he was going to renegotiate or overhaul. nafta is one where we haven't seen a lot of movement. in the past, once we've seen that the relationship between trump and a top aide is bad enough for it to spill out publicly, like with reince priebus or steve bannon, a departure is more or less imminent. rex tillerson is still expected to depart sometime this year. he's not seen ago someone would is going to stick around for the rest of president trump's term. >> we're into the second year of trump's presidency, infrastructure being a major part of his agenda. are we hearing anything about trump's infrastructure plans going forward? >> there has been a draft memo of it that leaked out. supposedly this is something the administration is going to roll out soon. but with all the focus on the continuing resolutions and mow the promise from mcconnell to start making what looks to be a comprehensive immigration

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

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

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

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

we should point out wilbur ross also breaking with the administration on his comments earlier today, saying that the u.s. has been engaged in a trade war for quite a while. that is in direct conflict with president trump's own comments, saying there will not be a trade war. wilbur ross also went on to say there is a good chance we renegotiate nafta, a view that is not universally held within the administration. there are factions within the administration who are urging president trump to leave nafta just as it is. >>> don't forget what happened just yesterday, the trump administration moved to slap new tariffs on solar panels and washing machine imports. president trump making his way to davos certainly with an america first agenda. we'll be back with more. before you and your rheumatologist move to another treatment, ask if xeljanz xr is right for you. xeljanz xr is a once-daily pill for adults with moderate to severe ra for whom methotrexate did not work well. it can reduce pain, swelling and further joint damage, even without methotrexate. xeljanz xr can lower your ability to fig

and wilbur ross will join marianne rafferty fromr --will o tomorrow morning. charles: we begin with the trump team take over davos, switzerland, white house officials sweeping the headlines. we hit a air pocket after commerce secretary wilbur ross made comments about the u.s. getting tougher on trade deals. steven mnuchin said people probably overreacted to a weaker dollar. president trump: i'm going to davos now to get people to invest in the united states. i

wilbur ross had taken the lead on china. the chinese adviser came for a visit and he had dinner with him and he thought he had cut a deal with him on steel and he took this deal to president trump and president trump said this is a terrible deal, you don't know anything, you're a terrible negotiator. i don't want you negotiating for me any more. and this was in front of other staff. like he humiliated wilbur in front of everyone. and since then, trump has said to people, a phrase he uses about wilbur, he said wilbur has lost his step. and he actually said, he's probably lost a lot of steps. so trump has been denigrating him, took him off the field last july and wilbur has tried to ingratiate himself since then. he's been trying to court his colleagues with dinners. but he's never going to be the force he was when he came into this administration. >> donald trump proves to anybody that's working for him right now and anybody that's listening to our program right now, being loyal to wilbur ross, or to donald trump, never pays

you had wilbur ross come out and say it was not a policy change. he was just talking about where the dollar is. from an economics point of view, he is right, but not helpful to have the secretary talking about it. is a part of white house policy to intentionally jawbone the dollar lower? michael: when you read his comments it sounds like he was answering it honestly without thinking about the effects and recent treasury secretaries don't say things like that. when you try to manipulate your currency to affect a trade deficit, you can cause the kind of problems we saw in 1993. probably not trying to use the currency they would use tariffs, other things to try to change the trade relationship with other countries. i don't think they will manipulate the currency. if they did, that would make the rest of the world mad. julie: take a look at the bloomberg again. looking at various currencies against the u.s. dollar since the trump inauguration. the peso has done the best, ironically. euro and the number two place. these partners with the u.s. have risen

you've got wilbur ross saying we've been giving it away since 1945 and gary cohn's side of the house saying nafta, maybe parts of it have to be improved. in the speech on friday president trump throws tpp out there. he said we're going to leave it but negotiate better terms. nothing has happened. tpp and trade have marched on without us. >> and trade is one of the large pillars that really president trump can thank for his large win. across the midwest while people were talking about jobs and other things, the name recognition of nafta in michigan, in pennsylvania was overwhelming. there's this idea that people really expect him to renegotiate america's position in the world and that that is going actually impact their daily lives. people think that their jobs in steel mills and other things that have in a large way been automated are coming back because china has been the person to blame on that. one of the biggest things that are going on right now is a war of words with the european union of all places. the president has hinted that he was going to retaliates for unfair tactics an

commerce secretary wilbur ross must now decide whether such actions imperil american industries and if so, how to penalize them. in the last nine months, the issue caused friction among advisers with varying viewpoints, some whom have now left the white house. >> i think there's a great struggle with what's going on inside this administration. >> reporter: tom conway represents the united steel workers union. >> we're going to rely on the president to do what he said, because we don't kn who's working there anymore. >> reporter: the president has 90 days after the commerce reports are due this month to make a decision. industry observers expect it to be a tough one, citing his ramped-up criticism of china following his november visit. >> we will not remain silent as american companies are targeted by state affiliated actors for economic gain. >> reporter: in a december national security strategy describing china as a dangerous competitor, companies like century aluminum want to fight the imbalance with tariffs. the ceo supports a levy of 20%. >> there's a million tons, a million tons o

congressman wilbur ross talked about a more nationalistic policy wide steve mnuchin said a weaker u.s. dollar is better for trade. the dow added 41 point, the s&p 500 with little change and the dmakz lost 45 points. >>> federal investigators are probing general electric's accounting practice, in particular, a hit taken to cover miscalculations made with an insurance unit. ge is cooperating. meanwhile they reporting a $9.3 billion loss. ge has lost half its value over the past half decade. >>> "fire & fury" is on its way to being one of the top n nonfiction sellers in year. the controversial picture of mr. trump and his administration. the president tried and failed to stop publication after experts were released. >>> and starbucks employees will soon be able to earn paid sick time based on the hours they work. previously only employees that worked in a state that had paid sick leave laws got the perk. the benefit boost also includes pay raises starting in april and parental leave benefits for nonbirth parents. that affects 50,000 full-time, part-time, and salaried employees. anne-mari

. >> reporter: commerce secretary wilbur ross. >> i think it's not so much that he came here to make a deal. he came here to clarify misconceptions that many of the people in the audience had. >> reporter: like? >> well, like they thought we were running away from the world stage. >> reporter: what's clear now, the candidate who fought the global elite -- >> globalization has made the financial elite, who donate to politicians, very, very wealthy. >> reporter: -- is now the president working to reassure them. >> i will always put america first, but america first does not mean america alone. >> reporter: hallie jackson, nbc news, davos. >>> another rich and powerful man has been hit with accusations of sexual misconduct. billionaire steve wynn, a casino mogul and powerful figure in republican politics, is reportedly facing allegations from dozens of current and former employees. let's get details now from nbc's rehema ellis. >> reporter: in las vegas, his name is synonymous with luxury. the man who has built some of the biggest casinos on the strip, but tonight steve wynn is under fir

wilbur ross coming out and saying that yeah, troops are on the ramparts of a trade war. mnuchin coming in and making comments about the dollar. if there is a strategy, and i don't know if there is, but if there is a strategy, it would seem like the two are kind of front running the president, to say i am willing to take a tough stand on trade and maybe even use the u.s. dollar as a short or medium term weapon in that fight. this would be really -- lloyd bentsen? >> you know, this is like watching an "snl" episode, watching all your reactions to this. let's do final thoughts. i'll start with willie and barnicle at the table. >> wilbur ross also said, sully, to andrew sorkin, there's a good chance nafta will be renegotiated. is that actually going to happen, will they go in and peel apart nafta? >> they could. and if they get a deal, it might not kill it totally but it might be unilateral, instead of bilateral. it could be just the u.s. and mexico or the u.s. and canada. not trilateral, i should say. you'll have "naf" on one side and "ta" on the other. >> mike barnicle, fi

we're hearing through reuters news agency that they are quoting wilbur ross, who is here, the us commerce secretary, saying, trade war isa commerce secretary, saying, trade war is a thought every single day. that is a quote coming from reuters. he is here. the us president arrives here tomorrow. that is all from me for now. that's it from business live today. there will be more business news throughout the day on the bbc live webpage and on world business report. we'll see you again tomorrow. storm georgina is with us today, so strong winds in the forecast. severe gales to parts of the uk. also heavy rain and localised flooding. in the north, we have this cold front edging its way to the south—east through the day, some torrential rain associated with that feature as it passes through. here we are at midday, severe gales for northern scotland. some gusty winds inland, 50-60 scotland. some gusty winds inland, 50—60 mph for parts of scotland. scattered showers for parts of northern ireland, northern england and wales. this cold front sitting across the midlands. parts of east anglia. so

congressman wilbur ross talked about a more nationalistic policy while treasury secretary steve mnuchin said a weaker u.s. dollar is better for trade. the dow added 41 point, the s&p 500 with little change and the nasdaq lost 45 points. >>> federal investigators are probing general electric's accounting practices, in particular a hit to cover miscalculations made with an insurance unit. ge is cooperating. meanwhile they reporting a $9.3 billion loss for the quarter ending december 31st. ge has lost half its value over the past half decade. >>> the tell-all book about the president's first year in office "fire & fury" is on its way to being one of the top nonfiction sellers in years. they have sold over 1.3 milli i copies since being released three weeks ago. the controversial picture of mr. trump and his administration. the president tried and failed to stop publication after experts were released. >>> and starbucks employees will soon be able to earn paid sick time based on the hours they work. previously only employees that worked in the states that had paid sick leave laws got the pe

she got questions about his confidence in commerce cretary wilbur ross -- enroth. there were reportses that there were tensions between the president and enroth. he says trump has 100% confidence in the secretary, but we have heard that before and it hasn't turn out there has been 100% confidence. we will see what happens. >> let's bring in our chief washington sportsnet, who has our chief washington correspondent, who has been listening to the press briefing. talk us through what happens in this case? when are they likely to begin voting, how long will it take? the house still needs to vote on it as well, correct? >> yes. speaking with an aid about the procedure and what we are going to see, sometime within the next hour, lay makers in the senate will vote on this. it is going to pass. they already have the 60 votes for the procedural vote, and then they are set up for the majority vote. from there, about 4:30 today, the house of representatives will have a vote. it will pass. then the bill, keeping the government funded through february 8, will head to the presid

president trump has grown frustrated with wilbur ross over the trade deficit with china. sarah huckabee sanders tonight any friction. military continues -- the turkish president wants to oust kurdish melissa from the area. it has ties with washington and complicated efforts to end syria's civil war. south of his ruling party says it is considering whether to order president jacob zuma to step down. after a four-day meeting, the parties secretary-general says no decision has been made and denied reports that a departure was imminent. bloomberg. we are joined by david in place with a look at the markets. wall street will not be catch down. investors don't care. we have seen pretty much everything thrown over the past 24 months. same story in the pacific. it looks like we will be seeing gains across major markets. futures signaling gains in about 30 minutes. japan front and central. have the press conference and about eight hours. no change expected, although expect governor kuroda to take a lot of questions when it comes -- veryer or not a quick look across. that is a wrap

one thing, you know, he talked about the steel industry, they brought wilbur ross in there was a three-month lag. these stocks have been off to the races since mr. ross has got in there is an up sight to u.s. steel, big short interest in the name wouldn't be surprised if it traded to and took out the highs of 214 david is here, i'm not asking you to comment on this, but cowan upgraded this from underperform to market perform it's just a matter of time >> the guy has a memory like a steel trap you're right i say stick with the steel names, they continue to work stld i prefer over letter s. steel dynamics is the name a very crowded trade this has been the darling of the space. these names tend to overshoot, you know, on positive sort of momentum, and undershoot on negative momentum. there could be another 25 to 30% move higher. i think you stay with the steel names. >> that's a lot of runway. >> china is going after this environmental. >> that seems pretty aggressive, 25 to 30% more >> i don't think you take your foot off the accelerator on steel names at all until the narrative changes. >> i

. >> reporter: commerce secretary wilbur ross. >> it's not so much that he came here to make a deal. he came here to clarify misconceptions that many of the people in the audience had. >> like? >> well, like they thought we were running away from the world stage. >> reporter: what's clear now, the candidate who fought the global elite -- >> globalization has made the financial elite who donate to politicians very, very wealthy. >> reporter: -- is now the president working to reassure them. >> i will always put america first. but america first does not mean america alone. >> reporter: hallie jackson, nbc news, davos. >>> another rich and powerful man has been hit with accusations of sexual misconduct. billionaire steve wynn, a casino mogul and powerful figure in republican politics, is reportedly facing allegations from dozens of current and former employees. let's get details from rehema ellis. >> reporter: in las vegas, his name is synonymous with luxury. the man who has built some of the biggest casinos on the strip, but tonight steve wynn is under fire. according to "the wall stre