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tv   Mornings With Maria Bartiromo  FOX Business  March 31, 2017 6:00am-9:01am EDT

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thank you for joining us this week fbn:am. nicole: fbn:am begin right now. dagen: good morning to everybody. i'm dagen mcdowell in for maria bartiromo. it is friday march 31st, end of the quarter, your top stories at 6:00 a.m. eastern time. president trump tackling trade, he will sign two executive orders that aim to curve unfair practice that is have hurt the u.s. economy. we have details straight ahead. new developments in the russia investigation. general michael flynn who was fired as national security adviser offering to testify if he gets impluinty. his lawyer says flynn has, quote, a story to tell. massive fire causing bridge collapse in atlanta, traffic jammed for hours and declaring state of emergency. >> repair to interstate is top priority as we will be doing anything in our power to make sure that this interstate can be opened safely to traveling
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public just as fast as it can. >> avoid the area if at all possible. we will try to be putting out alternative routes that people can take but don't put anybody's life in jeopardy by getting in the way. dagen: latest developments as investigators search for the cause of that fire. amazon looking to take on wal-mart in a whole new way. lure major food brands to sell directly on the site. today mark it is last trading day of the quarter. major indiceses all posing gains in the quarter, some better than others, we will dig into that. we have losses across the board. dow down 37 points. dow down for the month as well. in asia overnight, history space
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walk, you can see the asian markets mostly lower, up to the history-making walk, with the most space walk. the mission did not quite go like it was planned. all that and so much more this morning real clear politics caitlin, kevin kelly and he needs no introduction former arkansas governor -- >> give me one. come on. dagen: mike huckabee, father, grandfather, devoted husband, minister? >> once was, it's been about 30 years, but, yeah. dagen: that never goes away. we are going to talk trade with peter navarro and paul mitchell and patron founder.
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you don't want to miss any of those fine gentlemen. today president donald trump will sign two executive orders cracking down on unfair trade deals according to senior white house officials. the first order will research and point out trade abuses that add to the u.s. trade deficit and examine our trade practices with other countries like china, méxico and canada. the second order will address nonpayments of antidumping and antisubstance sidney duties on import. the president has previously vowed to rip you have nafta and withdrew from transpacific partnership. this is a small step. >> you can't go in the first month, okay, all of our trade policies have to be different. the first thick he's doing is he's asking commerce to take a look at every relationship we have with every country on the
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globe, find out who is cheating us and who isn't and what kind of numbers they produce and you have a better handle on what to do. he's doing exactly the right thing rather than taking a chain saw and going through and cutting down the forest, he's surveying the trees. dagen: caitlin, do you think china is the hargt -- target here? >> well, that meet asking going to be very significant talking about fulfillment of campaign promises being tough on china. some of the trade policies he advocated wouldn't squeeze china the way they had talked about for example withdrawing from tpp. he very much needs to turn the page here, right, get back to some of the messages that he was talking about for the past two years and get back to what he said he would do.
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dagen: really quickly i want to listen to sean spicer because he answered yesterday. >> this is an opportunity for president trump to develop a relationship in person with president xi, he has spoken to him on the phone a few times but we have big problems and everything from the south china sea to trade to north korea. there are big issues of national and economic security that need to get addressed and i think there's going to be a lot on the table when it comes to that over the two days that they will talk. dagen: kevin, i want to move onto because in terms of trade, china is one issue and governor can get in here as well but yesterday the wall street journal reported on the draft proposal about nafta and what the trump administration is going to do with that, it would seek modest changes to nafta. in fact, they would keep the arbitration panel that let it is countries involve circumvent the system and at least
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conservatives we wanted to see changed. this is a draft but, again, it's this draft on nafta is not nearly as tough as some people expected it to be. kevin: no, it's not. you saw it come back from the political rhetoric from the campaign trail. we haven't seen wilbur ross attack nafta that he did before the election happened, right, so i think it's really nice to see everybody coming back around because we do have great relationships with méxico as well as canada and so you have seen all of us come together in that regard. i want to make a quick point on the chinese situation, we actually find dte, a chinese company for selling american technology to iran in defiance to have sanction. we are definitely focusing in on the chinese relationship we have here and that's -- they admitted to wrong doing and you can barely see that happened. i don't want to lose that point because that is something that, you know, not only this administration walking the walk but talking the talk, they came
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out with the huge fine against china. >> the largest fine ever, ever. it was significant, now the result they are saying they are going to make huge investment in building plants in america, manufacturing putting thousands of americans to work. you know, just the very presence of donald trump at the white house has already resulted in a significant in which the stage has been cleared and the new sets are being built. dagen: i will point out that the uncollected dumping penalties that one of the executive orders is going to analyze is close to $3 billion so it's not a drop in the bucket. i want to switch gears and talk about this, governor, a battle brewing between president trump and the freedom caucus. i just want to -- this is a self-serving, but i want to -- i expected this. i called this. i knew that president trump even before he was inaugurated would start calling out members of his own party by name and the commander in chief did, indeed, do that calling individual members of the freedom caucus.
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meadows will get on board we would have great both health care and massive tax cut and reform. yesterday sean spicer and congressman jim jordan weighed in. >> of course, he understands that the goal is to get a majority in the house, majority in the senate, but at tend tohae as a bold and robust agenda that he's trying to enact that he ran on and told the american people that he would do when he was president and he's going to do the votes whenever he can. >> this bill doesn't unit the republicans and the american people. evidence by the fact that only 17% of the fact support this legislation. so we appreciate the president, we are trying to help the president but the fact is you have to look at the legislation. dagen: governor, this does not help the republican agenda? >> no, it really doesn't. i would suggest to the president that if he has some problems
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with the freedom caucus maybe do it over dinner at the white house. the fact is the people in the freedom caucus are people of strong conviction, these are not just people who are playing politics with this because they don't want to, this -- this whole thing only had 17% and that's what jim jordan pointed out. it was not a popular bill and not the kind of thing that he needs to go on rallies. i don't know how he got so connected to the bill because it was not anything like what he campaigned on. so in many way it is freedom caucus, though he may not recognize it today they did him a favor and forces this bill to get a rewrite and that's what it needed from the beginning. dagen: speaking of favors, caitlin, congressman jordan stood by donald trump after the bully bush tape came out when others like, well, speaker paul ryan did not so much but now you are having president trump turn
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on jim jordan and other members of the freedom caucus? >> yeah, he's talking about freedom caucus members and democrats and when you try to add up the math, it doesn't quite get you there on policy that he wants to pass. what's interesting from the freedom caucus, these people are not incentivized by threats of primaries, they come from very conservative districts. yes, donald trump won them but the lawmakers have been in there at least for some time and also ran ahead of the president in some ways so you have to figure out different ways to incentivize them beyond the threats of primary or electoral challenges. but again building the coalitions, i think, is going to be a challenge specially when you're firing off the tweets to people that you need to get on board for future things like tax reform. these divisions, though, i think will remain. dagen: real quick, kevin, market reaction, though, because again does it draw into question what happens with keeping the government open, tax reform, tax cuts, infrastructure spending, that's what investors care about ?
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kevin: they want to see deregulation and fiscal policy that will drive it further. it was actually -- the market was trying to figure out why did they leave with health care and once this was killed and the market rebounded, came back, you saw the government's focus shifting back to the fiscal policies that we need. dagen: a trillion dollars in tax cuts and spending cuts and reform of medicaid got kicked to the curve and somebody -- kevin: but it can be brought back. >> it can. kevin: it's not said done and over with but we want them to spur growth, grow, grow, you had secretary mnuchin say that. they are focused on that. they want a bill signed by august. they promised to the market and if they don't that's where they need to fall, they didn't promise healthcare reform in the first hundred days. >> frankly, i think, they should have led with tax reform because that stimulate it is economy, gets people working, invent other moves off the shelf, that's where we need to start,
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i'm glad we are back to that. dagen: thank you. give us more of our money back, let us spend it and we will put up with a lot of political shenanigans. >> absolutely. dagen: massive fire in atlanta on i-85 to collapse, backed up traffic for hours. retail battle brewing between online and brick and mortar, how amazon plans to convince major brands to skip big-box retailers like wal-mart and target whoa, this thing is crazy.
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experts under one roof focused on the delivery of precision cancer treatment. start at one of the cancer treatment centers of america hospitals near you. the evolution of cancer care is here. learn more at appointments available now. dagen: major highway overpass collapsing after a massive blaze breaks out during rush hour. lauren simonetti do the details on the story, lauren. lauren: hey, dagen, the fire broke out in interstate 85 at 7:00 at night and lane collapsed. >> the cork has been put in the bottle. think about one of the major arteries that comes in and out of this city where folks move north and south through our state, a chunk of it has just been taking out of play.
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lauren: officials say nobody was injured by drivers were certainly frustrated as lines of cars checked that out, they stretched for miles. >> almost three hours now. >> three hours? >> yes, just driving around. >> following ways trying to get shortcuts, nothing worked. we just said, pull over here and we are going to walk, at one point 4 miles we have to walk. >> wow. the city has shut down that part of highway indefinitely. let's turn to capitol hill because senate republicans delivered a major blow to planned parenthood. vice president mike pence casting the tie break that would let $200 million in funding from planned parenthood or any organization providing abortions. the bill now moved to president
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donald trump's desk and he's expected to sign it. in other news the trump administration is now appealing a hawaii federal judge order blocking the president's revised travel ban. the move after a day honolulu judge extended order blocking the ban while the lawsuit continues. and finally, amazon now on some of the world's biggest brands to bypass the box stores and sell directly to online shoppers. online giant has invited general mills an others to seattle headquarters for a three-day meeting in may in hopes of convincing them that it's time to start shipping directly to customers. the move comes as retailers like wal-mart, target, cosco, they are working to hang onto customers that they do have as much of their business has migrated online and we are looking at amazon shares which have been hitting record highs, dagen, they are slightly lower in the premarket. dagen: thank you, lauren. kevin kelly, these companies are
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not going to alienate wal-mart and target for the sake of amazon, are they? kevin: 49% of the sales come from third-party distributors so you need to be part of the amazon ecosystem because all your competitors are. dagen: fair point. >> you have no idea how big a deal this is in bentonville arkansas because there are thousands of people who work for and everybody from general mills, everybody, all they do is service the wal-mart account. it's a huge, huge mammoth battle ahead. dagen: largest employer in the united states. >> in most of the foreign countries in which they do business, huge. dagen: incredible. your state is pretty lucky. >> a lot of entrepreneurial
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activity. dagen: wal-mart, wall street, excuse me, looking ahead on the last day of the first quarter, what you need to know before you invest and a landmark walk in outer space, the unexpected turn of events for the female astronaut with the most space walks. that's ahead
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dagen: take tag a look at futures this morning on the last trading day of the month and the quarter. 42 loz on the dow futures. the dow looks on track to be down for the month of march. by the way, it's off about half
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of a percent. today is the last day of the quarter and it's been a great one for the major indicate -- indexes. those are great indicators of economic growth down the road. joining us is etf president sean, what do you make of these numbers and the russell and transports there? >> there was a whole bunch of policy things that were supposed to be enacted that made the market shoot up and now the foundation and underpinnings is tough to make policy and people are starting to get a little nervous about that. we will see what happens going forward. the market is a forward indicater. it's looking for what's going to happen down the road. it doesn't look at what is already happened, it's expecting earnings growth but it's tied to things like health care reform, tax reform. the things that are happening now, aren't tied, people are
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watching regulatory and trade. you have massive energy regulatory reform earlier this week and you have trade in the news today. they might be enough to keep things going enough but the biggie probably is tax reform. dagen: what do you make of that? kevin: it's completely right. financials have led this market ever since the election. we are depending on a 15% earnings growth. they should carry this quarter, the earnings cycle, but we actually have not seen the net interest margin increase for them to get that -- the trading volume has been muted because we haven't gotten the financial deregulations that we wanted. we haven't gotten the focus on tax reform, so that's -- dagen: financial quarters today, kevin, have underperformed. they are up less than 3% when it information it can and health care were the biggest top performers. kevin: that incorporate it is
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small regionals, right, that got recently hammered over the past couple of weeks, right, but you didn't see jpmorgan and goldman sachs come down. sean, you guys have seen tons of asset influx and grown over the last year, where are the clients putting the money in the products, they are looking at dividends, cash flow, where is it going? dagen: first reporter every covering etf, just so you know. >> good for you. it misses the whole thing. it reminds me of the springfield story. he's all worked up. springfield, missouri, springfield, new jersey, i don't care, whatever one is cheapest. you might wind up in the right place. to get that you had to get the
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whole time and weather and what we focus is free cash flow yield. just look at the 20%, highest free cash flow, you almost doubled the return. that's where all the flow has been. we don't look at sectors, during the prep work today and saw what everybody put out, consumer discretion doing okay and we focus on free cash flow. the company is healthy and generating cash and toandz rotate sectors on its own. we were under way energy when oil was low. that will change as oil prices go up. dagen: governor, real quick, would you bet on w getting something done because essentially that's what people are doing? [laughter] dagen: will you put your money in the market -- >> if they don't, there's trouble ahead. what happens in the market in. >> i think it goes up because that spills through the corporate profits and gives companies more money to do things with.
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i also think that what we also need, we need tax reform. you have to put the money in the hands of the people, let them spend it and buy goods and services and products and that's what will make -- >> what about a rollback of the payroll tax because that's instantly going back because they don't have to wait a year to get it? >> the sooner the money can get into people's hands, the better. my daughter, she's got taxes on it. dad, is this right? am i paying too much? you're going get a huge refund. she could use the money now. dagen: thank you. you opened up a big can of warms because i have a bone to pick with you. >> we can talk about how to fix that. dagen: you're not working in washington. governor, thank you and sean as well.
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new wrinkle in russian investigation while general michael flynn's attorney is saying that the fired national security adviser is willing to tell a story in exchange for immunity. that's next. changes comes to twitter. how the social media network will let you get away with tweeting more than 40 characters . isn't that called facebook? that's ahead ( ♪ ) upstate new york is a good place to pursue your dreams.
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dagen: it is friday, march 31st. michael flynn have a story to tell. the former national security advisor offering to testify in exchange for immunity. this comes amid turmoil about possible surveillance of the trump campaign. >> a lot of unanswered questions from white house counsel certainly raises questions more than it answers and among the most significant questions, are these the same white house staff that reportedly discovered in the ordinary course of business, they walked down the hall or across the plasma and can present it to white house staff for the president at any time so why all the cloak and dagger
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stuff? dagen: more on the investigations in general flynn's offer ahead. the questions about the hillary clinton, aids to the former secretary of state had access to the state department after she left office. tragedy at 30,000 feet, the tense moments in the cockpit after a copilot dies midflight, the shocking scene as it unfolded in the air ahead. twitter making a redesign, the big change to your character count and tomorrow marks the last trading day of the first quarter, major indexes posting gains, futures are lower, up for the first quarter. in europe markets head lower. a half point loss in england, that being the biggest loser. the shanghai composite eking out
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a small gain. historic day for spaceflight. space x becomes first to reuse a rocket. the details after astronauts lose a piece of the international space station. can anything kill the beast? a preview of this weekend's new films set to challenge beauty and the beast at the box office. a twist in the russian election meddling allegations. president trump's outfitted national security adviser michael flynn willing to testify in this case if granted immunity after the trump administration cut when you loose in february, he is said to have misled vice president mike pence about conversations with the russian ambassador to the united states, flynn's lawyer releasing a statement saying, quote, general flynn certainly has a story to tell and he very much wants to
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tell it should the circumstances permit. meantime comments flynn made on meet the press could come back to hunt him if he does testify in exchange for immunity. >> no individual too big to jail, that should include people like hillary clinton. five people around her have been given immunity including her former chief of staff. when you're given immunity you probably committed a crime. dagen: joining us former intel officer andrew peake. what is your take? immunity, you can i guess guess at what the motive is but suggests michael flynn might be in legal jeopardy. >> he has been in this game 35 years. he recognizes it would benefit republicans and democrats to throw someone in jail. republicans would like to share this neutral probe, keep damage from the white house as someone who has been fired, democrats
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want to have tangible proof that somebody colluded with the russians in a way that is criminal. michael flynn recognizes they are looking for a scapegoat and he wants to make sure it is not him. >> people give scholarships because that is the only way you are able to get somebody to go to the stage and sing. he is looking to be the first one to say i will take that scholarship, whatever you can give me. the big question, what would michael flynn potentially lose if he doesn't get immunity. he could be the scapegoat and take the fall for everybody. >> he absolutely what. that is what i would be aware of in his case because i think back to the scandal in 2005 when the media alleged dick cheney out at this cia officer because her
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husband opposed the iraq war and one of cheney's aids go to jail, scooter libby, for totally unrelated crime, in the course of that investigation even though the story was nonsense, flynn is very aware he doesn't want to be scooter libby. dagen: fear of prosecution or somebody gets ratted out. that is always on the table if he is granted immunity. dagen: i want to get to this story, fox news has confirmed two up white house aides were the source on the trump transition team surveillance until acquired by house intelligence committee chairman devon nunez, he later took that information to the president, the top ranking democrat voicing frustration following the news. >> my reply to white house counsel, my profound concern with the way these materials are being made available to the committee. i was informed in a letter from
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white house counsel that national security council staff found these materials in the ordinary course of business. dagen: he should have brought information before the whole committee. this story gets crazier and crazier as the hours go on. >> two things going on. white house staffers brought him to the white house to give this information and create an ago chamber, he will report independently something that verifies the president's too broad tweets, some nonsense, i got to say this one staffer, we know the cia wants to get rid of him so who is leaking this? i don't want to get too deep state structuralist, but it is a question, why are they so opposed to this one guy.
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dagen: we talk so much about the house intelligence committee, adam schiff has his own problems continuing to suggest evidence of collusion between russia and the trump team, never presenting any evidence, you turn attention to the senate intelligence committee yesterday, no government official testifying senators burr and warren standing side-by-side. the only public hearings they have, they are picking up the ball where there is confusion and disarray. >> why does this matter? the american people are confused. a homeland scenario where you connect the dots. what baer and warner are trying to do, russians are meddling right now in the european elections coming up in a month or so, that will resonate with
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people from their press conference but also take it from here, we have faith in the system. how is this not sharing information, it looks and smells bad, they are conducting hearings, will we bring in people the house wanted to bring in, so i am interested to see who they bring in publicly. dagen: not just collusion with russia but abuse of intelligence collection and unmasking of individuals by the obama administration. >> the big story is not just what did the russians do, we know they are trying to metal. we tried to meddle in the israeli election. i don't hear enough outrage about that but the big story,
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who in the intelligence community is a source to give out information that breaks the law, it is a felony to do that. when i hear about people leaking information that is classified and trying, that is incredibly serious because if we lose faith in the intel community we lose faith in the country. >> the one american institution that still has bipartisan public support is the military and by extension the national security community and the more it gets politicized, the more it is brought into this conversation the more it will hurt the remaining killer of american democracy. dagen: i give the senators running the intelligence committee credit, to be sober about their investigation. a state department shocker. according to senator chuck grassley, hillary clinton and six staffers negotiated to continue accessing classified
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documents for months after she resigned as secretary of state in 2013. staffers retained access even after she announced her presidential bid. you want to talk about people who had access to information who shouldn't have? >> in itself this is not that unusual. george shultz had access to help him raise memoirs after he left the state department but it is not that much of a surprise the administration wasn't that concerned about a galaxy of aids that might have had access. at least midway through her term, it was clear the president knew she was using unsecured email server because they were exchanging emails that were unclassified. is the white house going to drop the hammer after she left office? we got to tighten this up, it is nonsense. dagen: no such as tightness when
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it comes to protecting our intelligence and our secrets. dagen: good to see you, coming up, space blog will getting ahead in the space race, how it made history with the launch and landing of a recycled rockets, no more counting characters, a change that will you tweet with fewer restrictions straightahead.
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dagen: welcome back, we are looking at stocks on the move. lulu lemon taking a dive, the company warning it expects $.27 a share in the current quarter well below analyst estimates of $.39 a share. shares fell 24% on the news,
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they lost a quarter of their value. watching facebook, the cofounder, palmer lucky announcing he is leaving the company. and a statement facebook said he will be dearly missed, facebook acquired oculus for $2 billion in 2014. audio posted online reveals tense moments when an american airlines pilot died during flight. >> the pilot reportedly said québec i declared an emergency and i would like to have the emergency crew on landing which he said the copilot has passed out, this happens when an american airlines first officer died in the last phase of landing in albuquerque, new mexico, witnesses say cpr was performed for 30 minutes before the first officer was pronounced dead, so rare for a pilot to die over the age of 40, he was 58 years old, they get two physical examinations a year. facebook giving its users more
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ways to raise money, introducing a fund-raising tool to seek donations for personal needs, anything from tuition, pet care, medical treatment, personal emergencies and even burial expenses. facebook is adding a donate button to live stream, various pages, the company offers charitable giving tools for nonprofit organizations. twitter is becoming more flexible when it comes to 140 character limit. now usernames will no longer count towards the limit, this will be helpful with group conversations, replying for two or more users at a time can make it difficult with character constraints, can't say anything when you have all the addresses in there. a couple firsts in space, astronaut peggy whitson completed a record-breaking eight spacewalks for a woman. a minor setback when a piece of thermal shielding being installed outside the international space station flipped away and drifted into space was there was a milestone
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at the kennedy space center last night. >> 5, 4, 3, two, one. liftoff. >> reporter: always gives me the chills. for the first time ever a used rocket booster was sent back into space. the falcon 9 was launched by space x, they plan multiple flights of the same rockets to take humans around the moon. after placing a commercial satellite into orbit the rocket booster returned to earth and landed on a throne ship in the middle of the atlantic ocean to be used again, it saves money, elon musk he happy about this and explains here how these changes go forward. >> if you had airplanes where you threw away an airplane after every flight, teen years to get
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to this point. >> a great day for space x and the space industry. dagen: big old pile of money. >> company after company, he tried to get into our brain. that is the latest. ghost shell looking to take on the beast and the beauty of the box office giving disney's rebuild a run for its money next. ie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. ♪ [ toilet flushes ] ♪ so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. because your home is where our heart is.
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>> you are the first of your kind but you are not invulnerable. >> maybe next time you can design me better. >> everything they told you was
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a liar. >> who are you? >> they did not save your life. they stole it. dagen: a little taste from the new film ghost in the shell, the first live-action english adaptation of the japanese series. joining me, senior vice president of marketing, $110 million. have you seen it? can it beat beauty and the beast? >> that is the big question, the beast is so big, in terms of making money, if it drops 50% at the box office and is projected not to it will make over $40 million. it has been that big of a movie. march has been huge. we can't close the month without recognizing the first billion-dollar march ever at the box office, you had logan, con,
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beast, power rangers and ghost in the shell, and boss baby. second that the box office, $30 million, dreamworks movie by 20th century fox voiced by alec baldwin, jimmy kimmel. dagen: a little more on that. you did sit down with -- >> lisa kudrow. everyone's favorite friends, she plays a different role. i sat down, beverly hills, latest role. >> it was just the three of us. life was perfect until that one fateful day. meet your new baby brother. >> love this movie. >> isn't it so good?
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>> so sweet. the message and all ages. >> of course it does because a new baby comes into the household and to a 7-year-old, a limited amount of love. >> i agree with alec baldwin. >> he is hilarious and it is so perfect. you hear that voice coming out of a little student with the baby and made it the cutest baby. >> cookies are for losers. >> i love this when the kid is complaining am i the only one wearing a suit? he carries a briefcase. a little freaky. >> you carry that around. >> this is not about land lines. >> what was the process like? >> alone with your voice.
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i was lucky because i got to do one day with jimmy kimmel. >> he is just a baby. >> i'm actually reacting. when you think about it, didn't realize how easy acting was. >> how would you describe lisa kudrow as a boss? >> we are reasonable. >> people who work for you. >> if they ask for it, offering advice -- >> i like that and agree with that. >> we hate each other. >> we -- know. no way. you don't mean -- >> disgusting.
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>> dagan mcdowell. dagen: i quote it often. i love that. for adults and children. >> the secret to success with these movies and alec baldwin totally hit his stride. dagen: i adore you, have a great weekend was still ahead president trump 0ing in on trade, peter navarro joins me to tell us what to expect from the president's crackdown on unfair trade deals.
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dagen: good morning, it is friday, march 31st, top story at 7:00 eastern, trade policy takes shape signing two executive orders aimed at combating foreign trade abuse, one week after china's president visits the united states. >> big problems, to north korea. big issues of economic security that need to be addressed. there is a lot on the table over two days they talk. dagen: i break it down with peter navarro straightahead. las vegas slammed by severe
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weather, downing powerlines, tearing down walls, forcing flight delays, another settlement at the mission scandal, it will pay $150 million on environmental damage. mcdonald's going fresh escorted pounders i made to order using fresh beets, rival wendy's stealing the spotlight with response, starbucks wants to go cashier free, how the coffee giant hopes this will help the logjam from mobile ordering. today marks the last trading day of the quarter, the major and exposing nice gains, we have losses across the board, modest, dow is down 42 points, down for the month of march, first month we lost since october last year, in europe market that lower, half of 1% loss in england, that would be the biggest loser in europe.
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in asia overnight losses across the board with the shanghai eking out small gains. religion knows no bounds, this photo of a polar bear before a cross going viral. let's turn to trade, two executive orders cracking down on unfair trade deals according to senior white house officials, the first-order research is and points out trade abuses that add to the us trade deficit, the second-order addresses nonpayment of anti-dumping and anti-subsidy duties on imports. joining me is the white house trade advisor, good to see you. how are these orders going to change trade with the united states? >> the customs duty order, a long festering problem going back to 2001, we have anti-dumping and countervailing
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duties imposed, dumping is when a companyment sends products here below their cost, the countervailing duty is when a foign government headley subsidizes their industry and attacks hours. what the department of commerce has done historically as file these cases, almost 400 cases are active right now and 40 countries, what is happening, ironically, and machinery agriculture and don't collect the duties. it is $2.8 billion we haven't been collecting so what this executive order does is provide customs and border protection with all the tools it needs to collect this money and not just
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about revenue but the fact when we don't collect revenues, industries are at a disadvantage. what i like other than it is great on trade and economics is a beautiful example of interagency cooperation, secretary of commerce wilbur ross, secretary of homeland security's kelly, customers and border commissioner kevin work together in a swift way so this is good for america. dagen: there is always why now and these are just after meeting with president xi jinping in florida, they will discuss the expense trade, meeting next week with china will be a difficult one and we can no longer have massive trade deficits and job losses. american companies must be prepared to look at other
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alternatives. are these a warning shot to china to say we are ready to get tough? >> let me be clear about this, these orders have nothing to do with the china trip, nothing to do with china. what we have with these orders with the customs and duty orders, countries that are cheating the american people, my job is to defend our workers, manufacturers and this order does that. on the other order which is historic in a different way, looking at trade abuses, wilbur ross is going to look at 16 different countries with which we run significant trade deficits, china is just one of them. there's mexico, japan, germany which we had significant deficits with, ireland, vietnam, the highest deficits when you
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look at the volume of two way trade adjusting for that. what these deficits do, we are the freest trading nation in the world would unbalance the lowest tariffs and lowest nontariff barriers yet, we run these enormous trade deficits. wilbur ross and his team, look comprehensively at all the different ways of getting that deficit, differential tariffs, nontariff barriers, currency misalignment, forced technology transfer, in 90 days wilbur ross is going to deliver to the president's desk results of that, this report will provide
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guidance, and the trade abuses in this way. dagen: our trade deal with canada and mexico, source of iran fire for president trump on the campaign trail, there's a draft proposal highlighted on the front page of the wall street journal, describes it as the trump administration signaling mostly modest changes, draft proposal that would keep arbitration panels in place, with civil claims and trade disputes, not deal with rules of currency manipulation, it is not tough enough. >> those press accounts, other
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than to say, the administration is very anxious to get the process moving. the next step is setting the clock on what they call the 90 day letter and we look forward to a very good negotiation with first mexico and canada and down the road. other countries like japan, great britain, the president when he signed the historic order, getting us out of the transpacific partnership, we would be doing good, smart, tough, bilateral trade deals with every one of our trading partners playing fair and with us. i want to get back to this on the bus order. dagen: you said the reports i fiction. can you be specific? what are you take issue with? what went wrong?
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>> you start with the headline saying we are going to be soft in these things. dagen: they said modest. >> the wall street journal had something. my point, looking at what the letter dated laid out something on the order of 24, 25 areas of negotiation we are looking at. one of them which is one of the most important in the negotiation will center around rules of origin, why rules of origin are important, rules of origin dictate how much of the products are made within the nafta zone. right now it is a relatively low number further eroded by loopholes in the rules of origin. what we need to do is get back our supply chain. if you think about it, these big boxes around the country which
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have logos on them with our biggest companies, they become assembly plants for foreign components. the jobs, the wages are in the supply chain rather than the big box so something like rules of origin can have a profound change turning north america into an economic powerhouse. the arbitration issue i want to make clear, there is nothing in that letter that supports the current arbitration mechanism. dagen: good to see you. i will point out that at least the draft proposal would give the us greater authority to impose tariffs if there is dumping of imports in the united states, that is tough. >> it is tough. the trump administration is
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going to be tough, smart, do this to the best interests of american workers and domestic manufacturers and we can have a great deal with mexico in particular. mexico has been a serious problem but we can turn that around with the cooperation of the mexican government in both countries interests to become a regional economic powerhouse in this country. dagen: thank you, come back soon, hope to see you soon. president trump tweeting about his former national security advisor. there were reports that michael flynn would testify in exchange for immunity. president trump tweeted and mike flynn should ask for immunity in that this is a witchhunt. excuse for big election loss by the media and democrats of
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historic proportions. that from president trump. mcdonald's betting big on fresh beef windup in a fresh beef with wendy's, the online battle raging between the fast food giant and crayola weeding out a classical, crayon maker is ditching dandelion. ♪
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dagen: the fbi releasing an archive, a photo showing devastation at the pentagon in the wake of the 9/11 terror attacks. >> a total of 27 photos were uploaded to the fbi website showing fragments of american airlines flight 77 which left ellis airport outside washington that morning on its way to los angeles. it was hijacked by al qaeda terrorists and crashed into the pentagon. efforts by firefighters to combat the ensuing blaze, are colluded in this collection.
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to settle environmental lawsuits from 10 states, the emissions cheating scandal, 6-cylinder diesel engine and separate from $600 million agreement reached last year with 44 states and puerto rico. it is up 6% in the past year. mcdonald's is using fresh beef for its quarter pounders replacing the frozen patties, and served off the grill. prices are set by the individual franchise owners. will the quarter pounders taste different and mcdonald's said it would use frozen patties. rival wendy's which uses fresh beef tried to steal the spotlight with this tweet, so you will still use frozen beef
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in most of your burgers in all of your restaurants, asking for a friend. the beef patty wars already underway. national crayon day, big announcement, dandelion, it's dark yellow crayon is retiring. getting the boot from the iconic box of 24, the news was leaked early, they went with it, had some fun. there is no taming and adventurous spirit, if crayola will tell us which color will replace dandelion in a facebook live stream at 8:45 eastern time, i am going with salmon. how about --
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>> perry winkle. dagen: perry winkle is blue. by the way. >> this is my criteria for crayons in kindergarten age >> i know, crayon nostalgia. >> they are a hot seller. dagen: looks live stream. and look at it, they are handling the right way of sending dandelion off. it is timeless. kids are still coloring and it is wonderful, happy they are there. dagen: could be the biggest ipo ever, where will it lands? details as it shops between
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dagen: the ipo wall street is waiting for. on track to be the largest ever come up spot currently held by ali baba. do you expect?
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>> this has been a well telegraphed ipo that has had its impact in the energy market. you have seen even the saudi energy minister talk about doing their production cuts to boost the price of oil and working with opec. you selected the banks, it is widely anticipated, they should choose the stock exchange because it is the deepest, most liquid market. the same saudi energy minister says one of the fact is coming and is justice against sponsors terrorism law which he wanted to talk about with the administration, and an honor to put on the stock exchange given the fact of what happened a couple blocks from the stock exchange given there were 19 of 22 terrorists. some of the rumors going on,
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where are they going to choose it in the geopolitical implications of the listing? dagen: england is not a major arrival in terms of energy production. >> the relaxed energy policies of this administration have anything at all to do with influence, the fact that we are becoming a more energy friendly country given the change in administration? >> one reason is you see the financial regulations, the capital markets want a locally listed, locally listed, locally listed on the exchange because our deep capital markets and the rules, the regulations understand how it works, more has to do with the financial
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regulatory and exchange systems than energy policy, but the base would want that. dagen: an end of the quarter wrapping up the first quarter today, the major indexes posting solid gains in the first three month of the year, transport and underperforming. 's that cause for concern? i don't mean to sound negative. i look at the negative rather than the positive, the dow is down for the month of march, we see gains peter out a little bit, great economic indicators have underperformed. >> it has to do with the domestic story. if you look at the broader average of, the large multinationals in the likely s&p and dow jones they are doing well because technology has led the way, technology is going to grow their earnings overseas, you are looking at a lot of investors focusing on overseas investment in those markets, they are undervalued but if you look at information technology they are not expensive on a price to earnings growth, even
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if they are trading at 30 times earnings they are growing revenues 30% the so that is where you want to be. we haven't seen the stimulus coming into give them the boost. dagen: stimulus, infrastructure spending, tax form and healthcare reform for smaller businesses. what is the roadmap at this point? >> i completely get that markets are excited about republicans control everything, and following congress, confidence in congress. it is very difficult to see a lot of these things getting done. it is the prognosis in pieces of
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legislation. if republicans can't coalesce around policy. dagen: in 2009, $1 trillion stimulus package out of the gate, ripped up the entire healthcare system in this country. >> circling the wagons and staying in sync, they are lining behind it. the republicans are all over the map and believe they take the spoon into the kitchen with their own spices and change the recipe. and they are more individualistic in terms of the applications but that is what republicans believe, individualism versus corporatism, and they practice legislatively. dagen: these healthcare bills
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never got voted on and the employer mandate is still an albatross. >> haven't seen the last of this. passed a bill that didn't do what the president promised in the campaign. >> the well 3 distribution focused on the performance this quarter. expect her to come. dagen: fighting to free jail american pastor in turkey. what came from the surprise meeting with the pastor's wife and religion and nature. it is going viral, that is ahead. ♪ high on loving you ♪ high on loving you ♪
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>> welcome back. your top stories at 7:30 a.m. eastern time. general michael flynn has a story to tell. the former security advisor offered to testify in exchange for immunity. president trump reacts to the. excuse for big election law.
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of historic proportions. more on the developing story ahead. rex tillerson attending his first nato meeting. but before he arrives he took a detour to turkey details the details after he met with the wife of a jailed u.s. pastor in that country. the latest after storms downed power lines. old lefty take the gamble. phil mickelson was forced to pay nearly $2 million to get himself out of the bunker. starbucks is set to offer a new perk. marks the last trading day of the first quarter.
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they are edging lower across the board. you've of modest loss there. they are up a little more than one third of 1%. in winter has come. the game of thrones fans. the show dropping. when you take a look at coming up. a lot of buzz around spring training. a swarm of bees made their spring training debut.
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moving on to the story. he's heading to brussels for the first meeting. yesterday he wrapped up his first trip to tukey. the talks mainly focused on terror. he also met with the wife of an american pastor jailed in turkey. he has been held since october. the pastor and his wife were operating a small christian church in the country. the chief religion correspondence. god as a living reality in a world immersed in fog. i can't wait to talk about the book with you. first the significance and what is going on with this ally.
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this is a whole different kind of political scenario. he has been jailed because he's part of a terrorist organization but one of the things that may be happening here is that they want this was in the united states they want him extradited. this might be a bargaining tip. the trip administration as acting immediately. they're probably they are probably talking to the turkish officials right now. maybe they're taking the woodshed a little bit.
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supposedly for undermining national security. it's a kind of that same thing he was released in 2016. they sentence him to eight years in prison. they did release it. the situation might be a little bit different because trump is eager to get in isis. we need to get rid of isis so let's deal with that. >> and highlights the targeting and persecution of christians. >> turkey is not exactly the friendliest environment. he's becoming more and more of a hardliner but i think that this is an important move for this administration to be very clear and bold and frankly to play hardball. if you would have the u.s. friendship in support in any
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way let this guy out. it is turkey. they really do want to be on the global stage. they've really got to take these western countries a little bit more seriously. is a giant different important to us. we do actually had nuclear weapons there. when there was that military coup when they tried to overthrow the government how we protect the nuclear weapons there. we have weapons there. they now had it there. would he we see it playing out. one of the things as a religion correspondence and look at there's always an undertone of what's going on
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politically. i look at where turkey is spiritually their muslim country that is basically trying to set that back. they don't believe that islam is a religion that sets aside other religions. i cannot. i think it there really kind of a struggling with that. it will take even greater significance as islam is expected to overtake christianity. a polar bear was recently spotted praying it seems so silly but i think that this is like finding guidance in your everyday life.
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that's why this photo resonated with so many. of course we are moved by it because it seems like the bear is praying to the christian cross and maybe the bear is curious about it. the significance is that how we react to it we see an animal praying and something says there is a spir but real need to get to. there is a need we have to believe in something else. this is a god to basically bring in faith into your life on day-to-day basis. there was something that struck me years ago it looked as though the first commandment was sitting on top
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of the other commandments. that is a spiritual structure but you can't go through two through ten without doing number one. you should have no other gods before me. and i have a closed system. we are made in the image of god and that creation is made in the image of god. we should start seeing this structure. in the idea of the natural laws the idea is that it has to do with how you build it. the second part is a sacrifice which is biological growth. this has to do with how we grow. everything in your life influences your. how wine is produced by a whole different kind of
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scenario. in the new course in the worship. humans have to worship. it doesn't matter but you will worship. it is tough living in new york city. i can't imagine my you would think that. >> lauren of course. people who are believers here take it very seriously. lauren, thank you for coming. the book is a lighthouse faith.
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