tv Countdown to the Closing Bell With Liz Claman FOX Business September 21, 2017 3:00pm-4:00pm EDT
for my cousin in new hampshire. so that we can start to recruit businesses like amazon guess what the nation needs to do the same thing. we need to compete. >> we need to tell you you just mentioned treasury secretary steven mnuchin he is about to speak right now. you see the podium at the new york hilton. he will articulate what president trump announced this afternoon but here it is. when it comes to new actions against north korea, targeting north korea the president saying we must maximize pressure there will be direct targets on actions against north korea. on any bank in the world. that does business with north korea any vessels and aircraft that had visited north korea after visiting the united states. it will be in target vessels
that have been engaged in a ship to ship transfer. big news coming up we will take it live. the president not just focusing on north korea he's expected to meet at the united nations with the president of turkey already grabbing headlines by ripping the u.s. he called them terrorists and that is just the beginning of what he said. ukraine's president front and center. the president of ukraine for his only u.s. television interview he joins us in a foxbusiness explosive. can you get a firm promise to president trump. we will talk to him about pushing back vladimir putin and russia. will they ever get the region back. nato and the trade with the u.s. and much more. the winning streak looks like it's coming to an end.
you will not believe what they will have to face. no refrigeration. let's quickly check the markets. it might snap the longest winning streak it seemed since early august. yes it is apple. trading at levels not seen in nearly two months steven mnuchin is breaking the news. the president strengthened and he signed an executive order that strengthened the u.s. government's ability to cut off funding to the north korean regime and its weapons development program. despite multiple un security council resolutions north korean dictator continues to threaten the world and his neighbors with provocative nuclear and missile test.
for too long north korea has abated sanctions and use the international financial system to facilitate finding for the weapons and mass destruction and ballistic missile programs. no bank in any country should be used to facilitate his destructive behavior. this new executive order will authorize treasury to impose a range of sanctions such as suspending u.s. correspondent account access to any foreign bank that conducts or facilitates significant transactions tied to trade with north korea. these sanctions will be forward-looking. in applied to behavior that occurs following today when president trump signed an executive order.
they are now on notice that going forward they can choose to do business with the united states or with north korea but not both. the new executive order enables treasury to freeze assets of any one conducting significant trade in goods services or technology with north korea. and also allows us to freed assets with supporting the textile fishing, it and manufacturing industries. we call on all countries around the world to join us for cutting off all trade and financial ties with north korea in order to achieve a korean peninsula. as they stated in the speech to the un general assembly it is time for all nations to work together to isolate the
regime until it ceases its hostile behavior. we will continue to work with our allies and partners to stop north korea from using the global financial system to further his reckless behavior thank you i would be happy to take a few questions. >> can you explain how this will affect some and what can the discussions you or your counterparts have with them. >> i have a very productive conversation very early this morning with governor joe at the people's bank of china. on how we are to work together this action is directed at everyone. it is in no way specifically directed at china and we look forward to working very closely with them. >> mister secretary can secretary can i read a quick section of this. nor aircraft.
[indiscernible] is there anyway you can put a number on how many ship or aircraft would be impacted with this. again that is another important aspect besides as being able to block the financial transactions. it is very significant. and further we can put actions against imports as well. >> why will this round of sanctions work when others have failed. i don't think other sanctions have failed. these ones are very significant because not only does it allow us to sanction individuals or entities but it
allows us with any financial institution anywhere in the world that facilitates any transactions with the black person. do they include a plan to target north korean companies and individuals around the world. >> yes it does. >> is there any plans for future sanctions. i will never comment on future sanctions but we will continue to review all options. >> does this represent in any way a rejection or a moving path with the un security council. we very much appreciate the un security council. this goes beyond it. as i mentioned. this allows us to block any financial institution that doesn't follow through on the un sanctions or additional sanctions.
[indiscernible] they will do designations on a rolling basis. they start with all activity today. so this is forward-looking not backwards looking. is this more about your discussions with that. those conversations are confidential but i have a very productive conversation with them this morning. is there anything with the timeline of it. that have the negotiations leading to this point. the first time we discussed it was early this morning our time. >> i called them to alert them of this in advance given that close cooperation with us. i wanted to ask part of the same question which is that china has given us some indication a week and a half ago or so what they did today
was completely separate from what they have indicated earlier. >> i will not make any comments about what they did earlier. i assume that was the result of our conversation. do you believe that china's actions today they will have those for their actions. we look for to working with them in a very cooperative way the way we look forward to working with all of our partners. the additional authorities the treasury has. can you put this in the context of the president's speech earlier in the week when they have military action. what i expect north korea to do. that's honestly what we've
said. the objective is for them to stop their missile test in and give up their nuclear weapons. as it relates to this is something that has been in the works for a while i alluded to this i believe it was about two weeks ago that i had been discussing this with the president and it was all part of the president's strategy at the un this week. >> secretary tillerson said it took a while for that last route to have an impact is there a timeline that you are looking at sea make their snow a timeline we are looking at. it we would emphasize that we hope that there is voluntary cooperation but to the extent that we have to cut off exit from that. it obviously would be very significant we now had those tools to do that. are there any other countries with the central bank. with a confidential
discussions i've head. i am confirming that i did speak to them this morning i will not comment on other confidential discussions. >> they were seen earlier. do you think these actions are enough. or would you call on russia to do more. president trump and president she have very productive conversations. and we appreciate the way they are working with us. i will take one more. i just want to follow up follow-up on my initial question. he said this is not targeted at china specifically. can you spell out how this will affect them as i emphasized earlier this is targeted at north korea and
anybody that wants to trade the business with them. we look forward to working with them. i think you everybody. you can do business with north korea or you can do business with the united states but not both. they anticipated this just about every industry. the airline industry or any aircraft. the individuals or organizations and companies that do business with north korea cut off from the united states going forward. let's get to blake burman. certainly focusing at this moment with the president aired to one into one of turkey who has already made some pretty fiery comments.
they are an ally. let's listen in. a very difficult part of the world. he is getting very high marks. the great friendship as countries i think we are as close as we have ever been. and a lot of that has to do with the personal relationship. president, thank you very much. it is a great honor to have you. >> let me explain why as we continue to watch this video president trump noticing as you heard that the relationship between the u.s. and turkey is the closest it has ever been. and it is a great honor to see
president aired a one. he has said that the decision to do that. of the military. it is a mistake. he has called the kurdish fighters that the u.s. has supported called them terrorists because some have them pinned with terrorist acts in turkey if you look at the earlier discussions with countries that are affected by north korea difficult time for the world right now. it's a nice little walk him to the united nations. you have all of these different world issues of course the middle east crisis, stopping isis in that part of
the region. it will always be at the forefront for this president but so too right now. his north korea in on this day the president has met with the leaders of south korea in japan. he cited this executive order. aimed directly at north korea. trying to stop as much funding as possible going into that country that will eventually turn around for the president's program. this was it. you are going to either try to do business with us or do business with them. pick or choose. from the treasury secretary there. was the question posed is what's going on at the united nations not enough. do you need to go over the have of the united nations now to deal with north korea. and he was respectful of the body there. this is clearly an administration that feels that not enough has been done with north korea and they feel that
they and the trump administration needs to do more. that is what we are seeing on estate. i point you back list. ahead of this u.s. general assembly. they said we had been kicking it down the road of far too far too long enough is enough. action needs to happen. today you are starting to see some action at least on the economic front. two business with us or do business with north korea. there is no middle ground here. he puts a fine point on that. as president trump's first un general assembly and boy is he fighting with that on many different levels. the nuclear threat is pretty frightening for americans on wall street. they are holding steady. the markets are down but barely.
it seems like fears are going to do something that hurts the market way more intense than peers of north korean dictator. the stocks are pointing back. we are to to put this in perspective. they put a date on the calendar yesterday. for the start of a great unwinding of its bloated 4.5 trillion dollar crisis. to the floor show. the traders what is it moving the markets lower. not a whole lot. the markets are in a churn pattern. they had been some time. after that stark rally that we got on them at the beginning of 2017. the markets did not follow suit. really from the beginning of a july.
on a day-to-day basis. i think you will see the back and forth. i harbor the belief that this is the path of least resistance. with the administration starting to take a hard line on the regime like the kim regime. in letting the rest of the world now it is is going to be a different set of circumstances and how you do it. we are still the best house in a bad neighborhood when it comes to yield. >> keith, is right. we are the best house at the moment. do you get the sense that people are going to hear that almost in a feedback loop and say the u.s. market looks fully valued are now overvalued. time to look elsewhere for the new movement in stock. without the record high people have been rating for correction to buy.
at some point they are just gonna bite the bullet and get in. that may be something to watch moving forward. we will continue to see that in equities. seen in equities because we know. the closing bell. we are 40 minutes away. on the world economic forum he said we will get back what the russians took from us. they were snatched in the landgrab. and will it be with u.s. weapon tree. they join me in the foxbusiness exclusive.
hurricane maria leads death and destruction in its wake. but can it really be climate change. his big oil partly to blame. it will take a look at all of it. in today's power report. that's next on countdown. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
what the entire island will likely endure for months. no air-conditioning no lights. officials say it will take at least four months to get the lights back on for the entire island 3.4 million residents. it is strengthening is strengthening over warmer water as it heads towards turks and caicos island. they had reached havoc on the energy sector. executive director barry worthington is here to talk about that. the strengthening line of hurricanes or not. it seems like we've had terrible hurricane season so far and it's not done yet. that part is true. in our hearts will go out to the people in puerto rico.
working desperately to get refineries back online. the alignment particularly as they they leave their families in the dark. we need to also applaud the industry workers here in the continental u.s. there is a huge gap. it was frightening. there has been so much discussion some people are saying absolutely some people saying no is not so much that climate change what is your
position on that. i think we will wait and see what the meteorologists have to say. after the storms are all over. what i have heard in the past from meteorologist. they very much support the notion in that pattern. they have said in the past that you can't tie an individual storm to the larger trend. i think we need it today. until there is a better deal put on the table this is a very plain question. under what type of circumstances would you say
what needs to be in a newer paris climate accord. there needs to be more equal sharing of burdens. the united states makes a commitment to 20% reduction in the united states our industry has been and will continue to reduce admissions. the paris climate accord has nothing to do with any of it. it appears to be a brand-new sort of frontier front tier on lawsuits against big oil. as you know they go back to the beginning of time. but now san francisco and oakland are suing their suing them over climate change.
that are pointed at for climate change. i think it is much more of a political statement then is a serious legal matter. i would be shocked if it's not tossed out of court at the first opportunity. the claims that they are making you will see a judges throat out judge and throw it out the leak very quickly. closing bell is ringing in 30 minutes. charlie gasper in a we have new details.
it's not just about north korea or russia. they also are discussing a growing economic relationship the president of ukraine he is here with us life and his only u.s. television experience he is joining us in a foxbusiness exclusive. what president trump told him about trade, vladimir putin nato and what we get that to his country to help. countdown is coming right back.
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already president trump president trump has approved an energy trade deal to sell u.s. coal and steel which is currently fighting to take back crania. that is a region that they took in a violent landgrab back in 2014. they sent their rebels in the successfully stole it. they watched and did nothing except impose some sanctions which to this day had not returned to peninsula back to ukraine. not just weapons to ukraine. we are joined now in a foxbusiness exclusive who won the presidency in a land slide just months after russia invaded the crimea. vladimir putin changed the cold war that have been long established between you and russia. we can look at the map.
actually changed the map which is illegal of course and you can see that red line where crimea is shown. that used to be a region of russia. back then everyone from high-ranking democrats to high-ranking republicans said we should've sent them long ago. today when you met with president trump did you get a firm commitment that he will send defense weapons to ukraine to help them push back russia? >> thank you very much indeed for your invitation. and let me start with that for my nation to all americans because of the victims of the hurricanes. it is extremely painful. the leadership in the hot -- hard times. he is not only making that.
they will make military aggression for my country. the enormous loss. 10,000 people including 200700 soldiers and more than 7,000 civilians were killed. and with that situation this is just to demonstrate that there is not any of that. on february attacked crimea. on august he attacked them. we have a very impressive meeting with the president i admire his leadership. from that united nation focusing on ukraine to stop the aggression. >> did you get a firm commitment that he will send that.
it would pierce all of the russian tanks that were coming through. did you get any kind of a promise yes this will happen. we will get some of the weapon tree. ukraine is very effective. we don't receive anything from the whole world. with build up 250,000. we are proud of them. we are talking about the radio warfare.
to increase to increase the responsibility if he makes the decision. putin is completely un- predictable. my answer would be definitely know. if you ask me or anybody does he make it aggression i say definitely know. number two things. he is a remember of the security council. it was the structure that provides global security. and now he's asking. a resolution for u.s. peacekeeping forces. it's a location that he wants
you want peacekeeping forces. we have this. this is my proposal. we need peace. we need russia to deploy the occupational trips. for them the most efficient mechanism is the peacekeeping forces. that is a unanimous decision. including russia. in russia has that. where they give up their biggest arsenal. do you regret that. ukraine gave up its nukes.
if you have not done that. would we even be having this discussion. this is impossible to compare. and now, i think a number of those. should exist. we have a security guild from the united states. finish the discussion of the peacekeeping. we definitely support that idea. included uncontrolled party. to the occupied territory. in the security. it creates peace.
i'm proud that they have that. we can bring these with the position of ukraine. it is the position of united states. he has been engaged in weeklong wargames. to the north. that was a very annoying to you. it's almost like he is flexing his muscle. you've gotten more than just a promise from the united states. james mattis. they come back in august. on the date that you celebrated your independence from the soviet union he marched with you we have never had military march in the parade. what did that say to you.
what did that say to you. it's very important. for that millions of people that are welcoming the president. if it was not only american troops it was a british canadian. in a native of the state. this was the global solidarity. and demonstrated the leaders of the united states and the global partnership. this is extremely important and the secretary marches together. president trump. says that that is the headline. that is extraordinary important. you've gotten a firm commitment. the breaking is right now. we are happy and we are fully
satisfied with our cooperation. accused of meddling in our elections. they are having a facebook alive. you can see it on the screen. this is live it is happening. they tried to infiltrate facebook with advertisements. they are continuing their investigation. they're they are going to make political advertising more transparent. did they meddle from your perspective in the u.s. elections and try to put forth all kinds of ads. against hillary clinton. whether you support either candidate doesn't matter. i think this is a key element. and russia tried to make a cyber attack.
in trying to be involved in the political process. i hated the other details. they should create effective mechanism to be protected from russia and try to tried to use the democratic mechanism. president we thank you so much. i will end with the same question i did two years ago. will you get them back. we will get crimea back. today we have a very important event. a few days ago we have the last placement. with millions and millions sold. go now to you ukraine. this is the absolutely strong
and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp >> ten minutes until we get the closing bell here. the chances of mean remaining federal reserve chair may have taken a hit yesterday. because she suggested that some key financial regulators should stay in place. these are regulations against the banks. could kevin washes family ties give him the upper hand.
they should actually put that up on the.com. how is it possible or okay that any country would aggressively today. mexico takes back texas. how is that okay. it is pretty absurd. let's get to this. the lead position. who i am talking to in washington. they are still kind of steam to him over his critique. he then went to get it.
i'm not seen this is written in stone. it's a guy named kevin morse. he is a former fed governor. here is what key gary cohn. now a professor at the stanford business school. and then in government on economic policy. this sort of key is to know it was family ties to trump. this is a guy that is an all-time friend of this. >> i think he ran that politics.
they have them major campaign contributor. that is his father-in-law. what does that mean from monetary policy. he is not a hawk. i don't see the taper of the or the unwind. he is a realistic when realist when it comes to monetary policy. not crazy on the other end. but the fact that he was involved in the bank bailouts with all of the intervention. we are neck and to see something to the right of that. he is when to be yell in just a bit right. in terms of bank registration
i think he will follow trump's lead. he would actually be very good at doing that because he understands why dodd frank was created. was it all of these mechanisms that they put in place. guess what they almost have nothing to do with the financial crisis. i think that seems to be the odds on favorite here. its net positive for the markets because is not a total hock. is not going to do the unwind of the feds. it will cause markets to erupt negatively. and he knows the banking system in his four deregulation.
they rejected me. i went to berkeley, their rival. steve bannon is going to speak at berkeley. he's going to get his free speech. why should you have to fight to save something. the reputation is tarnished because it turned into some kind of anti- free speech mecca. as a journalism school. i think the rest of the school. it's horrible what they are doing to her college campuses. -- to college campuses.
not happy. nicole, was a division eight soccer player. >> whatever. i'm just looking at the markets. they make them really apparent. very curious on this one. they are buying part of the company. they had hired some executives recently. and analysts say this one well really give them competition with their pixel smart phone. the other guy such as apple.
the session low was down 54. we are down seven at the moment. forget all of the negativity here. it has been a blockbuster year for stocks with the dow up more than 13% the s&p and the nasdaq. if you want to listen to warren buffett it's you get a million times better. literally. the news is that warren buffett said last night at the big forbes event that it will go to $1,000,000.00 years. agree, disagree discuss. thanks for having me. i think that's actually a very conservative approach to
thinking about future market returns. if you look back the last 100 years now is 22. that is about a 6% annualized return. and that included nearly 90% drawdown during the 30s. if you look forward to hundred years for that to get to a million inmates only compounded 4% per year. it significantly less than historical returns. it gets to a million in only 57 years. if cryogenics work. we all get present we can come back and see them. let's just say this is true and that the stocks remain the same which probably they will change. what stocks do you feel would be the best ones do all the way up to that 1 million.
if you look at the life cycle of companies typically in the 100. the average age was 61 years. back in 1980 it was down to 25 years and currently it's 18 years. i would suggest that it is likely that the winners of the future have yet to be born in they are in someone's phd dissertation. they are not public yet. the life cycle of the public companies continue to shrink. let us all hope that we live this long to see great things for america. with more than 300 billion in assets the record run is over. on this eve of the second nice and by the way much of the light volume has to do with a