i'm pimm fox with kevin cirilli. kevin: facing impossible budget -- racing possible budget cuts, the security and exchange of ministration may have dozens of contractors hike -- helping to root out front on wall street. let's bring in matt robinson. so what are the cutting and what will it mean for wall street regulation? matt: another cutting contractors which is a broad ability for folks paralegal data-entry folks. individuals because of data-entry, they will format phone records, train records, into a form that is searchable for line attorneys. attorneys, folks doing the investigations will have to do that work. what happens to these investigations, they get put on hold and have two of us extra work. kevin: certainly slows things down since, even for the new his basic confirmation, to have a hiring freeze. they are not replacing departing folks. they're getting prepared to do things with the resources they've had under the oba matt: the fcc's budget crisis has from quite a bit, it almost doubled. some folks are sa

vonnie: kevin cirilli in washington, thank you. mark: lots of news coming up from central banks today. boj falling further behind its global peers after cutting its inflation forecast. draghi and ecb stating risks are not over yet, just a question of how the u.k. economy welfare after brexit. that is something that we want to speak with with neil mackinnon. you are going to get a look at this chart. five-year forward inflation rate. is off the record lows but it is off the highs of a month or so ago. should the ecb, given that chart, be tightening policy, or loosening policy less, as everyone is talking about now? neil: if i were mr. draghi, i would say, what is the problem? the actual core cpi number is below 1%. therefore, does not really compel me. the matter what the germans may say, where inflation is higher, would prefer the ecb qe program a little earlier. i'm chart suggests, and surprised the ecb did not do anything today. the fallback position of mr. , if we tighten now, inflation is still too low. the risk of a cyclical e

last night president trump command in order of syria. >> kevin cirilli in palm beach for us there. to be a strikes appear single targeted attack and the big question is now what? let's go to former defense secretary william cohen, now chairman of the cowen group. is this a change in u.s. foreign-policy? >> i think it is. aesident trump campaign on basis that we are going to have america first policy. going to beally building our infrastructure backup. even though we don't like what is going on with the world, the world is not going to walk away from us. change, it iss a a positive change. we can't simply become isolationists. retrench --ley simply retrench. most of the time that international response will be led by the united states. president continue to strike at syria doesn't back down. russia appears to be backed into a corner. putin doesn't like being in this position. >> we reach out to russia but on the basis that we are willing to do business with you. at a time when they destabilize ukraine in violation of international law. that we are violating international law and be

kevin: i'm kevin cirilli. david gura is on assignment this week. imm: let me give you the top stories we're watching at this hour. secretary of state rex tillerson is arriving in moscow today and bring a tough talk ahead of his meetings. he is saying russia must give up "it's unreliable ally, syria." this is following that chemical weapons attack in syria last week. tensions weighing on investors minds with u.s. stocks edging lower. lingering concerns over the developments in syria and rising concerns over north korea feeling a bid for haven assets, such as the japanese yen, strengthening past 110 to the u.s. dollar for the first time since noveer. president donald trump's message to corporate america -- job creation is at the top of the agenda. he made that comment at a strategic policy meeting with several chief executives. the president also said to expect major streamlining of dodd-frank legislation and "pleasant surprises on nafta talks." ♪ kevin: it is a tense time in geopolitics. secretary of state rex tillerson is in moscow delivering a h

golf time be lots of for kevin cirilli. mar-a-lago florida here on an important day for the chinese and u.s. relations. stephen roach will join us in the next hour. right now, with the first word news, here is taylor riggs. trump begins today's of meetings with the chinese president later today. the summit is being held at the president's resort in mar-a-lago, florida. he has now to deliver an ultimatum to rein in north korea. he will also talk trade. senate majority leader mitch mcconnell says democrats have time to change course on the supreme court nominee neil gorsuch and avoid the "nuclear option." have the say they votes new to block the nomination. mitch mcconnell says if that happens, they will change the rules to allow a simple majority vote. and one of the states critical to trump's election victory would be the hardest hit according to the boarding tax -- to the border tax. the report was sponsored by a conservative group linked to charles koch and david coke. to saudiay's trip arabia this week turned into a lobb

david: kevin cirilli joining us from capitol hill. scheduled to meet with lawmakers to discs xes soon. swdown is loomingwe president trump in congress. hanging in the bounce the potential government shutdown. trump applied pressure for lock makers to make -- to make money to invest in the ball on the u.s.-mexico voter. it's a democratic dealbreaker -- dealbreaker. what wet me ask you, have heard from the white house about the prospects for a shutdown. kevin, they are laying this out of the agenda. what is the white house saying? the doubling down on theeric: request for $1.5 billion on boardwalk funding. it's a trade-off between the obamacare subsidies and those border wall funds. however, democrats feel as if they have the advantage. trump during the campaign said mexico would pay for the border well. democrats came out with a report last week showing that the cost of the wall over its lifetime could account -- cost $70 billion. they show the wall is not popular including among republicans representing border wall areas. house may be

cirilli,ank you kevin joining us from capitol hill. you can watch the proceedings of the senate judiciary committee live on tv on the bloomberg. biggest rival's inside russia will have a story next. this is bloomberg. ♪ david: this is bloomberg markets, trumps first 100 days. i'm david ra. returning to international politics, vladimir putin -- whirring about his elections. matt phillips about the russian presidential tone. >> election new quality is perhaps the man that vladimir putin fears the most. he is an opposition candidates, he is touring around the hinterland of russia trying to get his name recognition out there. he is barred from going on television. kremlin officials try not to say his name. us than half of the russian population even know who he is. >> seems like if you are going up against could you must be a -- b on citizens -- to something. time exactly what the protest movement entails. >> is about corruption, that's the message he's trying to get out. he just put out a film talking the eye-popping mobile's of co

mark: kevin cirilli, thank you. thank you also to alan crawford and henry meyer. vonnie: still ahead, uncertainty with the outlook of the french election. less than two weeks before voting begins, have the election become a four-way race now? that conversation is next. this is bloomberg. ♪ from london and new york. i am vonnie quinn. mark: we are two weeks away from the french election. it is looking different then compared to a few days ago. a poll published last night. it shows that support has surged 18% with francois hollande gaining ground. the runoff is may 7 and caroline now. joins us it is a four-way race, isn't it? caroline: it is. it looks very different than what we had at the end of hollandehen francois -- when francois fillon fell back. in produce a patient different rallies over the weekend, and we can see that this is becoming a four-way race. we have to be careful because the margin of ever is around 2%. ofch is the lowest score macron, 23%. you can see that there is still room for a game changer at the last minute. mark: what is behind the resur

she washington correspondent kevin cirilli. details, theys to trends and stories in m&a now. at&t's purchase. what it means for mobile. this is bloomberg. ♪ julie: live from bloomberg world headquarters in new york, i am julie hyman. this is "bloomberg markets." let's go over to abigail doolittle for check on markets. we were talking about a leg down in stocks and it looks like that is continuing to some degree. abigail: it has indeed. we do have stocks ever so slightly lower. about thisisome potentially is investors really showing their nerves is the fact that we had a big bearish reversal where stocks have been sharply higher and then closed lower. the nasdaq itself had been up more than half a percent earlier. we had the fear gauge or the vix up 8% at its highest level 2017. you take a look at the intraday chart of the s&p 500 and we see some legs lower here. initially midmorning we saw one leg lover. now the leg lower most recently taking us down lower. a bloomberg intelligence whategist is saying that is behind this small leg lower for the s&p 500 is a report that chin

all right, kevin cirilli outside of the white house there. a beautiful shot. later, president trump is hosting italy's prime minister at the white house. the two will hold a joint news conference and that is scheduled for 3:50 p.m. eastern. you can watch the news conference right here on bloomberg television. stabilizing oil is on the signs and opec could extend outlook. this is bloomberg. ♪ ♪ mark: live from london and new york, i'm mark barton. vonnie: and i'm funny thing. this is "bloomberg markets." --e for futures and fork is time for futures and focus. oil is in focus after a plunge. joining us is tom. we will begin with oil. why this reversal. stockpiles are there doubt. there is a potential for extending that opec agreed and promising but imagine that oil would plummet if they lower? tom: good morning, vonnie. oil is way overvalued at these levels. there is way too much supply and not enough demand. if you throw in that we have more fuel efficiency now, we don't have much more of a demand coming. now that we have seen retail stores start closing do

let's go now to kevin cirilli, our chief washington correspondent, reporting from palm beach, florida. digestt we have time to the events of the last 24 hours, bring us up-to-date on the timeline. kevin: on tuesday, all of this started, which reports surfaced that president bashar al-assad of syria used chemical weapons in syria, killing more than 80 civilians, including women and children. then we go to wednesday, in which trump spoke from the rose garden at the white house and said that "many, many lines had " in this heinous crime. that was also a signal against former president obama for drawing that red line but not taking military action. by thursday, he traveled to mar-a-lago here in west palm beach with his top military advisers, including secretary of -- rexexx tillerson tillerson, for a two-day meeting with china's president to discuss national security. the presidents0, sat down for dinner. at 8:30 p.m., 59 missiles were deployed from two navy said -- ships off the coast of syria after trump gave the command to utilize that military action. while all of this is going on, th

let's return to kevin cirilli and matt townsend. there talking about how is no details on how the tax cuts will be funded, likely for companies, they don't know if they will win or lose from this proposal. kevin: mnuchin was very broad. he said, economic growth created are the tax cuts will pay for some of this, then getting rid of deductions and loopholes, which brought a bunch of other questions from reporters in the room. he did not want to answer those either. so not a lot of details. you cannot just walk away from being excited or that you will get hurt -- you don't know. we'll he know there is a house plan that ryan backed. to address that point from your reporting, what have you learned in terms of what could potentially be some of the sources for paying? kevin: economic growth. rates,s of some of the these are not lowball. these are the opening bid. roger talk about what said, one of the staunch opponents of the border adjustment tax, what he told me early this morning on capitol hill. take a listen. it is a nonstarter with

vonnie: kevin cirilli, thank you for bringing us that exclusive interview. we want to bring you some headlines from the senate floor. senator mitch mcconnell was speaking on the senate floor saying things like tax reform rumors are not worth anything at this point. he also said reconciliation would likely be needed for any tax bill and mcconnell earlier said he's hopeful we will get spending agreements in the next few days. you're looking at senator chuck grassley speaking right now. let's check in on the bloomberg first word news. won't beent trump pulling the u.s. out of nafta immediately. the white house says the president ruled out terminating the free trade agreement right away after talking with the leaders of mexico and canada. the three countries will renegotiate. taiwan will provide an early test on president trump's rapport with chinese president xi jinping. trump's pit president goal of boosting exports against his attempts to increase cooperation with china. u.s. arms sales have been a source of irritation to the chinese. angela merkel says some

joining us now from palm beach is kevin cirilli. we have an amendment, kevin. give us the details. kevin: before we talk about china, we have to talk about the efforts of republicans to repeal parts of the affordable care act, or obamacare come around to. round two.care, republicans in alabama working with gop leadership, led by house speaker paul ryan, to announce a commitment that would essentially be a risk-sharing fund. republicans in saying this is just another step closer to repealing parts of the affordable care act. there is what house speaker paul ryan had to say earlier this morning. speaker ryan: while we have worked to do to get all the way there, we have made real progress this week. that's is why we are all here today. kevin: i spoke with a senior aide of a republican member of the house freedom caucus. they are the group, of course, that blocked the passage of obamacare from repealing, and they said "this does not really change anything. they are still hoping for more conservative changes." vonnie: talk about the visit from a chinese premier. they do have certain thi

vonnie: kevin cirilli joins us now. from capitol hill. give us the three major pillars of this plan as steven mnuchin has outlined it? kevin: earlier today, steven event inpoke at an washington hosted by the hill newspaper in which he outlined the details of the tax plan that we are expecting. later today, steven mnuchin will join gary cohn in a white house briefing, in which they will continue to unveil details. i do want to pull up more information about this tax plan. first and foremost, the administration is calling to of 15%.he tax rate they are also calling for a tax reduction of the repatriation rate on corporate earnings to 10%. they are also saying that the border adjustment tax is not going to work in its current form. the keywords being "current look atcause when you the politics behind the policy of the border adjustment tax, this is look at the politics behind the policy -- the republican caucus. whether or not this administration tweaks the border tax in some new form remains to be seen. but a lot of folks will be watching f

we are joined by kevin cirilli joining us from the washington bureau. let's talk why the visit of the king of jordan. it will be a press conference in the east room with the president and the king of jordan. what can we expect? a lot of this i expect will settle on security the middle east? kevin: people say this is going to be the main topic of discussion. we don't have word yet whether there will be that official press conference tomorrow but it will ca off's series of international business with foreign leaders president trump is doing this week. and the big one on everyone's to-do list, china's president xi inping, and will arrive florida on thursday and friday after he finishes his trip to denver. -- his trip to finland. david: why is he going to helsinki first? unclear, but has drawn raised eyebrows from folks in washington because if you think back to what the two topics of main discussion will be this week, it's all about national security as well as trade policy. earlier today, president trump reviewed that meeting with china's president xi jin

kevin cirilli is in palm beach in florida. with all that is going on in washington, a scramble before a two-week recess, what will the president and the premier speak about first? what a morning in washington. president trump is scheduled to take off with some of his most senior ministration officials, including commerce secretary wilbur ross as well as the treasury secretary steve mnuchin from andrews air force base. they will fly down to mar-a-lago in west palm beach, florida, where they will beget a series of two-day meetings with the chinese president. this is a private set of meetings. later this evening, they will be joined by their respective wives, including first lady melania trump, at mar-a-lago for a private dinner. top of the agenda is national security and trade. they will talk specifically about north korea. you will remember earlier this week, north korea tested ablest of missile that drew criticism not only from president trump, but also from president xi. and then trade, and whether or not they will be a littl

vonnie: kevin cirilli sums it up. our chief washington correspondent right outside a beautiful sunny white house in washington, d.c., today. president trump is hosting the italian prime minister at the white house later today. you can watch the press conference at 3:50 eastern which you can watch on bloomberg television. this is bloomberg. ♪ >> 1:00 in washington, six in london, bloomberg world headquarters in new york. i'm david gura. a focus on politics and policy during president trump's first hundred days in office. here are the top stories we're watching. at a conference in washington. the iff brings together senior policy makers and financial industry leaders. we will bring you the treasury secretaries comments. the dodd-frank replacement, the financial choice act. a sweeping legislation led by the chairman. we'll get a hearing on capitol hill next week. leaderst trump welcomes where they will hold a news conference. a free cherry -- trade message is unlikely to sit well with resident trump. -- president trump

. >> kevin cirilli there at palm beach florida. the relationship is outstanding. the vote was 55 to 44 according to the supreme court. the swearing-in ceremony will occur on monday. justice roberts and kennedy will -- administer old the both. neil gorsuch our next supreme court -- >> let's look at how lumpy it is. just look at how lumpy the maturity profile is. 2017, 100 50 billion. 00 -- it is sevens, it is tens, it is stuff they bought a long time ago. how do you manage the rolloff of that passively? want to be passive they won't be predictable and if they want to be predictable they can't be passive. the answer is we don't know because that will depend critically on rates and the economy. i think that is a challenge for the fed. the fact we don't to know more i think it is pretty ridiculous. >> if you remember back in 2013, , theonger they delay longer those holdings get. qe is distorting everything in the market. >> you have to put this in the context of bank lending. you look outside the u.s., i or theuropean tapering japanese change of policy would be a much

we will go to kevin cirilli in florida in moments. this is bloomberg. ♪ tom: years of previous attempts at changing assad's behavior failed, president trump orders an attack on syria. russia considers the attack "far-fetched pretense." wastillerson says russia complicit or incompetent. in this hour, ellen zentner. president xi hears firsthand from president trump of the syrian attacks. this is "bloomberg surveillance." from our world headquarters in new york. i am tom keene with guy johnson. syria is front and center. is this the end, or could there be more? to: we are starting understand the reaction function from the trump administration, and can we draw a line to north korea? burns to join us. and we hope dennis ross can join us. now to give you a morning briefing with our first word news, here is taylor riggs. theor: navy destroyers in mediterranean fired 59 era missiles at a syrian airfield after accusing the bashar al-assad regime of using chemical weapons. president trump made the announcement from his florida resort. : i ord

that's kevin cirilli, bloomberg's chief washington correspondent. the syria strike will likely loom large over president xi's visit. it's far from only -- the only difficult issue confronting those two. will be asssions long as they are complex. let's get some insight from john snow. he accompanied president george w. bush on trips to china. jwss the president of associates. thanks very much for being here. let's start with china. what would amount to a successful outcome? to forge ancipally relationship, or are there metrics you would like to see met on the heels of this meeting in florida? john: i think that's the primary purpose for now, setting the table, building rapport, building personal trust, building confidence in each other, and starting to lay out what's really important. these two leaders need to get a good read on each other, so they don't miscalculate. this is the single most important relationship in the it is important that the leaders understand each other and can communicate effectively with each other. and i hope that's the resul

vonnie: kevin cirilli, chief washington correspondent. catch the ceo meeting on the bloomberg at tv . it is a ceo town hall being hosted by the white house, and we are waiting for the president later this hour. this is bloomberg. ♪ ♪ --nie: live from london nejra: live from london, i am nejra cehic. vonnie: i am vonnie quinn. gold heading for the highest close following the aftermath of the u.s. election. joining us for futures and focus, i guess we could go either way from here. what happens next? >> i am looking at the technicals on this chart, and gold gets above 1270 it could run and get its head above 1300. there are some interesting technicals with the two day moving average at the 1270 level , so we have major resistance. --are telling our clients 1270. if we get above 1270 we could get the golden cross in gold and that could lift off and attract more buying. tomorrow andll that will affect the currencies as well as golden treasuries, but what is important is gold is rising with the dollar. the dollar had an outside bullish

kevin cirilli with this is, a possible -- with us is kevin cirilli come up shutdown, possible tax reform. do we know what is more important? kevin: we don't. they want to avoid a government shutdown at all cost because comes one day before the 100 day marker of president trump. night, house freedom caucus members will discuss her health care policy proposal. on wednesday, they will unveil some type of bare-bones tax plan. david: i talked to mick mulvaney, he said the most likely thing on friday was a one-week extinction and do these week to week government things into the summer. is that being kicked around? . kevin: it is. that could throw a political wrench into all of this. and tom perez will be rallying folks today on this last-minutey hijinks could pose a risk for them. this is a president who ran on the notion that he would make government more efficient. thank you. we are joined by the chief global strategist at horizon investments. still with this is ian bremmer of the eurasia group and j.p. morgan asset management. a practical matter, sort out for us what is really going on. i w

we are going to go to kevin cirilli. you and i talked about this, we have seen quite a few meetings with ceos with the president. what comes out of them? kevin: not much, but i think the administration enjoys them because they feel this is when president trump and the administration are at their best. the main topic of discussion from this morning has been infrastructure, with secretary elaine chao saying she defaults to gary cohn in terms of which type of policy, and guiding that policy on infrastructure will be. they are still bullish on infrastructure. we have not seen specifics or a timeline, but by talking about it they feel they are getting into the zeitgeist. corbyn a citibank was just asking a question of elaine chao. why is ivanka trump playing a prominent role? kevin: also jared kushner. the have emerged as two influencers within president trump's inner circle. jared kushner was in iraq over the past couple of days but also ivanka trump meeting with ceos, women business leaders, and her assurance of dena powell

joining us from the florida is kevin cirilli. the white house yesterday insisted there would be no golf at this meeting. what is the white house expecting us -- telling us to expect over the next few days. kevin: no golf but plenty of policy. air force one is expected to land at palm beach air for. president trump is being accompanied by senior administration officials such as wilbur ross and steve mnuchin. they will then head to mar-a-lago will they -- where they will begin a series of meetings with president xi as well as his administration officials on a host of topics, the two most prominent being national security with a focus on north korea, as well as trade policy. two areas that we could see on trade policy some developments include nuclear energy as well as the auto industry. what are we expecting to come out of this? pressis no joint conference on the schedule. are we going to see any sort of documentation from the white house after about what accomplished here? kevin: this is a bit different from the past where we have

that was kevin cirilli in a very crowded east room in the white house and craig gordon from our washington bureau. julie: we did just get another headline regarding the shooting in central paris that and usually we learned had left the attacker and one police officer dead. now we are getting a headline that a second police officer has been killed in the attack. inre was a policeman critical condition. this appears to be that police officer who has now died. toll now, two police officers and the attacker. i want to bring in our reporter from paris, who joins us on the phone now. what are we learning about the shooting and the circumstances surrounding it? >> [indiscernible] this is lending towards a terrorism act. joe: could you repeat the last bit, it was a little hard to understand. what do we understand now or have information about theoretical or possible motivation? >> at the moment, what we can say is the french authorities just said their opening an antiterrorism investigation. that this is terror related. we also have the french prime minister who is with president hollande. julie:

david: with me now is kevin cirilli. mixed bag. achievementse real in deregulation and some of the lifting of the animal spirits. how does the white house grade itself at this point? kevin: it points to the notion of how several folks within the administration as well as outside of field, that it has been hit and miss. where they feel their strongest positions have been is when they are meeting with ceos. this is where the politics starts to matter. next week will begin the markup of that piece of legislation to this is a much more conservative legislation that is set for an offramp of financial institutions. you hold more capital, you get rid of their risky business that we are more likely to provide. an offramp to walk back some of the regulations. when you move to the senate, that is where this gets interesting. that is much more of a moderate legislative body. the senate banking committee chairman, the companion to the house financial services committee, they are taking a much slower approach on dodd-frank deregulation. they ar

jens for more, let's bring in kevin cirilli. still with us, scott meyer. kevin, we will start with you. what do you see as the big headline from the press conference? kevinthis is a presidt that just a ltle ov a week ago ordered a missile strike in syria. hours before this to these, we had rex tillerson delivering right in front of russians essentially saying, we have a very different policy on russia than you do. make no mistake, what you are .itnessing right now not only are we having a shift in policy, but also a shift in rhetoric. he looked at these concerns, quiet friendly, nato allies, who this newerned that white house would not be able to work with our allies, despite the rhetoric saying they would have to pay their fair share. 2014.eement started in what he is doing is serving a .arger megaphone, so to speak this is a president shifting his tone and also policy, on full display in the white house. abigail: not just on nato. it's to me the promises of the campaign trail meet the reality of governing. you have the president softening the stands says

scarlet: kevin cirilli, bloomberg's chief white house correspondents and little peterson, thank you so much. coming up, the commerce raisingy says u.s. is tariffs on canadian lumber. we will explore next. this is bloomberg. ♪ scarlet: i'm scarlet fu. "what'd you miss?" releaseexpected to earnings on thursday before the closing bell. let's look at twitter in today's the numbers don't lie. twitter stock which is the white line has been on a pretty steady decline. the blue, revenue, has staggered to a 1% gain last quarter. so far things have not improved since jack dorsey took over as ceo. analysts expect a 14% drop in the first quarter, or should say the fourth quarter of 2017 but the first quarter of the fiscal year. dorsey said 2017 as the year went twitter would stop raising money, but they don't expect to be profitable anytime soon. they are making progress on goals this year. twitter visitors have stopped rising, falling in fact, december through february. the question is to what extent the numbers reflect this stagnation. an absolute decline could further risk advertiser fell.enc

kevin cirilli,f, chief washington. scarlet: washington correspondent live on the scene -- joe: live on the scene of this historic meeting. coming up, as we reach the first round of voting in the french election, the anti-scotsman figures -- antiestablishment and we have improved look at one mechanism for the preparation. this is bloomberg. ♪ scarlet: i am scarlet fu. what'd you miss? you can find out charts using the function of the bottom of the screen. i want to focus on peasants and building on the euro. euro-yens the one-month risk reversal, the cost of one-month options against the yet related to contracts for selling. it is a gauge of market positioning and sentiment and it has been heading south. the far right, bearishness on the euro relative to the yen is the most extreme since right after the brexit vote, the middle yellow circle. risktors are hedging the of marine le pen winning the french presidency can even though polls show that for the second round she probably not going to win it the greek credit cris

david: not to kevin cirilli on north korea. both kim jong-un coming out with a statement and then a conversation between presidentxi and president trump. who initiated that? >> he called president trump to discuss north korea which is a hefty threat regarding the potential for using nuclear weapons, should anything develop between the u.s. and north korea. obviously, there are questions about whether or not that could follow through but look. everything happening in syria is clearly sending a signal to the chinese and to the north koreans that this administration is perhaps a bit more unpredictable. david: about foreign policy and economic issues, these things seem to be getting linked both between russia and possible sanctions issues but also here, with the president saying the , if you don't help us on north korea we might have trouble on trade. >> the not only the sanctions, but also the policy, particularly natural gas and oil. , in termsue of trade of everything that is going to be coming up with secretary ross -- sorry, s

kevin cirilli joins me now. i'm struck, kevin, by the single-minded focus compared to other press conference as we have seen during president trump's prescott resist him and he was focused squarely on the middle east, the printable of the death attack in northern syria yesterday. we had the un security council. what is your take away from what they had to say. julie page from the associated press asking a very pointed question as to whether this prostate redline for him. kevin: president trump coming against president bashar al-assad using chemical weapons against women, children, civilians. this has rattled not only the administration but also global leaders and folks all over the world. became out and said this cross, quote, "many, many redlines," and he said he was going to "forcefully respond." of course, he did not get into specifics of what exactly it , ass that syria has crossed he said again, the red lines committee did use it as an opportunity to criticize former president barack obama's policy position

joining us now is the bloomberg reported and washington correspondent kevin cirilli, both on capitol hill. having: i want to pull up now some of the new details that we know. first of all, it would lower the corporate tax rate to 15%. cut the repatriation tax to 10%. plus, official saying there would be no border tax in the current form. i want to play for you now something that secretary treasury steven mnuchin said across town in washington this morning at an event hosted at newseum.um -- >> i hope they will not stand in the way of greeting tax cuts for small business, for making business competitive, for some behind competitive taxes. we are hopeful it is bipartisan. kevin: secretary steven mnuchin trying to get some democrats on board. sources weyou the are talking to on capitol hill are trying to unify the republican caucus. i was told moments ago that the border tax would be a nonstarter for several conservatives in the house. the house speaker said that 80% was agreed upon by the gop. it seems to be a rosy outlook. does there need to be a democrat or two on board? >> it is eas

tom: we want to go from kevin cirilli to our esteemed guest dr. lee. this is a remarkable statement. that this thing was torn to threats. proposing billions of dollars in tax cuts and casually asserting a plan where "vapor would grow and is detached from mp or a goal reality. no serious economist would make such a claim. real tax reform, however, takes on tough choices." other thananything appeasing the business community that this administration wants to take on trumped choices? -- take on tough choices? kevin: the corporate tax rate of 15%, they are looking at that as a lowball estimate. bargainingecomes a situation, that rate could go back up to 20%. you are right. this is light on specifics. it is clearly an opening bid. tom: thank you. william lee was with citigroup and the international monetary fund. and institute -- the milken institute chief economist. you are an expert on the border wall. how did you observe yesterday's event, if we are not going to have this incoming revenue, that incoming revenue, and another incoming revenue? is it an empi

. -- kevin cirilli was the first to repeat of the 20. the tweet.t joining us is kevin cirilli. help our global audience, why do i care about a runoff election in georgia? the seat, the former home of tom price, the health and human services secretary. it was a special election run in and a primary of sorts order for there to be the general election. democrats were hoping they could ride anti-trump sentiment and make the case it was part of a new trend in which they would be able to rally the troops heading into to 2018. however, you now the situation where the republican outcome was better than they expected and they will be facing him in a general election. i spoke with the head of the ncts and she told me -- r and told me is not to be considered a bellwether. tom: you are no sound n -- sam nunn. help me with democrats in the southern u.s. there was a guy who was a personification of southern democrats. are there any democrats left in the south? kevin: i am old enough to remember former president president clinton. that kind of brand worthy were able to win over democrats in t

very own preview is our chief washington correspondent kevin cirilli. tell us what you think we know. kevin: what we know is that treasury secretary steven mnuchin we'll head to capitol hill to meet with top republicans including the house leader to talk about this tax proposal, which we are anticipating sometime tomorrow. willtedly president trump advocate for a 15% corporate tax rate, consistent with what he said on the campaign trail. when you get into the weeds of whether this plan will be thisue neutral or whether administration will support the border adjustment tax, which speaker ryan has said will bring in on trillion dollars in revenue but other republicans balk at, particularly in the senate and tea party, there are a couple of items within the tax policy plan that we are eagerly awaiting to see where he will weigh in. willar to health care, he have to play a political referee of sorts to unify the republican party. david: if he comes in with something as specific as 15% corporate tax rate, does he have to give us some hint of how he will pay

we are joined by kevin cirilli and gina smiley. kevin mc start with you. we have mike pence going to the dmz. what is he trying to show in terms of rhetoric in force the being on the korean peninsula? kevin: trying to piggyback -- piggyback off of trump's meeting last week with the head of nato and chinese president, xi jinping. they are trying to utilize china to put pressure on north korea to change its foreign policy. at the end of the day, when you look at the policy, president trump is not labeling china as a currency manipulator, as that -- the reason they are not is because they drew it less used it as a point of leverage for the chinese to work with the united states on north korea. deal, house speaker paul ryan is leading a bipartisan coalition in europe with people to try to work with nato allies in case the chinese don't follow suit. let me ask about how receptive china is to this rhetoric from the vice president. there's a lot of talk about held that meeting went. what is your sense of how these words are being received in china? remember presi

kevin cirilli. mark: oil is struggling to rebound. goals heading for the biggest drop in seven weeks. we are live in chicago to assess the market moves. this is bloomberg. ♪ mark: i am mark barton. vonnie quinn and i am vonnie quinn. speaking at is the deputy governor of the people's bank of china. today's time. you know, first on the chinese economy, the chinese economy had recently been stabilized. of thisfirst quarter ,ear, the gdp growth rate, 6.9% a little bit higher than most people expected. 1.4%. is i over we have a higher pp 7%. that was expected. partlso, the very strong imports andmy is exports. imports and exports had been very strong this quarter. the total export and import volume surged 21.8% in the first , in which exports increased 14.8% and imports increased to 31%. that is partially reflecting the of the trading market and also the strong import to china. reflecting relatively stronger domestic economies. across the commodity prices. so with that kind of relatively robust economic growth, i say are the reason behi

we've got a focus on politics and policy for the new adnistration i'm pimm fox, along with kevin cirilli. we are waiting for a news conference at trinity u.s. secretary of state rex tillerson and his russian counterpart. let's get a check on the first word news this afternoon. mark: security is being increased outside churches in egypt ahead of the easter holiday this coming sunday. the move follows twin bombings in twin cities that killed 45 people this week. presidencies he declared a three-month state of emergency following the palm sunday attacks. the chinese president has told president trump that the issue of the north korean nuclear weapons program is shifting itself to a peaceful means. he spoke with mr. trump after tweeting that north korea was looking for trouble. the u.s. sent an aircraft carrier task force to the region, raising peers the conflict could breakout. in london a parliamentary committee says that there may have been a chinese interference -. a denial of services attack. two of the public and ministration committee said that they had no direct evidence that foreign

let's go to our chief washington correspondent, kevin's really, at the white house -- kevin cirilli, at the white house, why has even been in been removed? exclusive from our jennifer jacobs that steve bannon, the chief strategist to president trump has been removed from the national security afterl just two months general h.r. mcmaster has taken over the president's national security advisor. some interesting back story. you remember that the national security adviser was once a position held by general michael flynn, who had resigned, following a failure to disclose his communications with russian officials to vice president mike pence. general mcmaster is the successor to general plan. generalhe first hires mcmaster did was to bring over at gina powell as his deputy to the national security council. she was a former goldman sachs executive and was previously working in the administration -- first dollar ivanka first daughter ivanka trump. you are seeing a restructuring of the president's inner circle and on the issue of foreign policy, it would appear, the president relying more o

joining us is kevin cirilli, chief washington correspondent for bloomberg news. by the time they mean we will have a joint statement from lavrov and tillerson. what will stoltenberg and donald trump speak about? kevin: earlier today secretary tillerson meeting with his russian counterparts in russia, and i have to be honest here, the statements could not have been more different from the 2 global leaders when they sat across the table. the russians feel that the u.s. should not be taking the action they are taking against the assad regime. all of that sent him our european counterparts are praising this administration for the measure that what they , thed measured response missile strike against the syrians. when you look at the communications coming out of the white house regarding china, regarding north korea, they hope that the message they are sending on syria will forecast to the north koreans as well as the chinese that this administration is taking a very different approach on the issue of syria, and by default, potentially north korea come than the previo

david: getting a headline here -- kevin cirilli, our chief washington correspondent, crossing the bloomberg, donald trump telling ap he will unveil his tax plan exit that includes massive tax cuts for individuals and businesses. more clarity -- and that includes massive tax cuts for individuals and businesses. more clarity. coming up, david westin will speak to omb director mick mulvaney coming up at 2:30 p.m. eastern time. ♪ scarlet: taking on taxes. this hour, the president physics -- is expected to sign an executive order. we will bring you that live. and the fight over future terrorism overshadows the countdown tool -- until the next election, and -- good afternoon everyone. this is a bloomberg special edition of blue and -- bloomberg tv from the spring meeting. we have a bit of breaking news. >> from the associated press, this is the president saying we will see tax plans and sometime next week. we are seeing that across the bloomberg. much more on that through the course of the day. of course, front and center of the united states

vonnie: our thanks to kevin cirilli, reporting from palm beach florida. stay tuned to bloomberg tv and radio for the latest news and analysis of what's at stake when president trump and president xi meet for the first time ever. nejra: coming up, the dollar is talk of shrinking its balance sheets at the fed and we will talk about that in futures and focus. this is bloomberg. ♪ nejra: live from london and vonnie: live from new york, this is bloomberg markets. are weighing growing stockpiles of oil and the dollar is up as the fed effect dams and we have an sp tomorrow. chief market strategist at bullseye option is with us. typically before nonfarm payrolls, we get a quiet session but we got minutes yesterday rolling off of treasuries and mbs securities. >> that was a look out below. we found the markets unwound and filled in with that big gap from the adp private numbers. it's interesting to see what happens with the numbers tomorrow. i don't think the market is focus that much on that anymore. the unwinding catalyst was the allusion to the self rate hike

let's get the latest from bloomberg news with kevin cirilli, who joins us from palm beach, florida. press wereost of the down to cover this china-u.s. a visit but events have taken a very dramatic and different development. what has been the reaction? we are steadily getting comments from both sides of the aisle. what are the comments you are hearing? kevin: several prominent republicans are voicing their support for president trump's actions tonight, taking ballistic missiles against the same syrian field in which president bashar al-assad launched that chemical weapon. officials saying that the last three attacks have been chemical weapons. senator john mccain and senator lindsey graham are voicing praise for president trump tonight. -- trump tonight. this is the first military action president trump has taken. this was supposed to be a two day summit in winch he would meeting chinese president xi jinping. but syria has cast a shadow over these two day summit. president trump removing himself from the meeting and noted to meet with members of his team, security council, to get an

nejra: thank you, kevin cirilli, at the white house bringing us up-to-date on steve bannon being removed from the national security council. later today, live coverage of the donald trump and king of bela news conference -- king abdullah news conference at 1:00 p.m. new york time. america's fourth largest economy is challenge with slow growth, dependence on commodities, and decades of civil unrest. i will address those with one of the countries most prominent economists and a professor at columbia university in new york. colombia has a separate set of problems than other countries in latin america. there is also some similarities. what can the central bank do in colombia that is different from the ecb or the fed and their obligations and mandates? >> the major problem all central banks in emerging economies have -- the riskmanage those issues do not concern the fed are very important for emerging economies. vonnie: what about comparisons in terms of policy errors or policy wins? colombia suffers from high structural and employment and labor informality, dependence on a small number of co

much to kevin so cirilli. this is a joy. i like to think i saw this book and i said yes, great, another book but this is phenomenal. the beach read this year for the linkage of this is an technology and the future of this nation. steve case talks a little bit about this. i want an update on your new book and how you adapted and adjusted to our new president? steve: great to be back with you. i added a final chapter -- a postelection chapter have out how we talk about the project restart. moving america forward and focusing on innovation and entrepreneurship. one of the right ways to attract talent. because we need to continue to be a magnet for talent. aret of our companies started by immigrants. tom: do you see hope for that? do we just have a business photo shoot with the president? have not seen the president since he became president. what are the chances of -- is mark cuban your vote for president? steve: he is a friend but i rightthink he is running now. it is four years before we have another president so let's focus

kevin cirilli sat down with the rnc chair at the rnc headquarters today, and asked if this election could predict what could happen nationally in 2018. >> there are so many unique characteristics to each of these special elections. you can't model turnout. it is harder to to predict who is staying attention and coming out to vote in these elections. you have to take each of these special elections on an individual basis. reporter: you don't think this is an indicator of 2018? >> i don't. i don't think you can predict 2018 will be, based on an election, not even 100 days into the president's administration. alisa: french police say they thwarted an imminent terrorist attack just days before the first round of their election. two men have been arrested in the southern city of marseille. police seized weapons and explosives from the suspect who officials believed they are converts to radical islam. tax returns are due in the u.s. today. so is any money that you owe uncle sam for there have been 2017. over 100 million returns filed from individuals and close to 80% filed for refunds. global n

kevin: i'm kevin cirilli. david gura is on assignment this week. imm: let me give you the top stories we're watching at this hour. secretary of state rex tillerson is arriving in moscow today and bring a tough talk ahead of his meetings. he is saying russia must give up "it's unreliable ally, syria." this is following that chemical weapons attack in syria last week. tensions weighing on investors minds with u.s. stocks edging lower. lingering concerns over the developments in syria and rising concerns over north korea feeling a bid for haven assets, such as the japanese yen, strengthening past 110 to the u.s. dollar for the first time since november. president donald trump's message to corporate america -- job creation is at the top of the agenda. he made

joining us from palm beach, florida is kevin cirilli. you didn't go to palm beach to cover this one. how big of a distraction is this for the administration? kevin: president trump hasn't even taken off from washington to come to florida. already, the fallout reverberating down here as well as across the beltway. he's blaming left-wing activist he says they have filed complaints against him, politically motivated attacks. sure what exactly is in those filings. this will lead to several questions about who will take over for him and whether or not there will be a special prosecutor, something some republicans and virtual all democrats have called for. nunes hasgressman said the charges against him are "entirely false." we've already had an attorney general recused himself from any investigation having to do with us. now, we have the republican of thesman in charge investigation on the house side is stepping down as well. where does this all end? kevin: when you put it in the broader context of what the admin's ration has done this week in

david: kevin cirilli joining us from washington discussing the sixth is third base in georgia taking place today. ballmer,ad, steve microsoft founder and ceo, owner of the l.a. clippers. more on that and the nba playoffs coming up. this is bloomberg. ♪ david: this is "bloomberg markets: trump's first 100 days." with a focus on policy and politics under the new administration. i'm david gura. what is retirement like for steve ballmer? he's been dividing his time between the staples center and an office in seattle, where he has been pouring over government data as part of a new venture called you is a fact. his aim is to give us a comprehensive look at government spending. he joins us on bloomberg markets. great to have you with us. help us understand what you are trying to do. you put all this data into spreadsheets and try to aggregated and look at it in a new way. what are you trying to rid of? mr. balmer: about three years ago, i started a project for my wife try try to understand some stuff that was related to our philanthropic interest, where government dollars are important. m