Impact of president trumps tariffs on imports and other chinese items. How big and impact is this hurting companies and compare it to the benefits of the tax cut in 2017, which reduced rates on business. Are these tariffs offsetting the benefits of the tax cut . Neil there are two impacts, the first is the tariffs in place and already at cost, the second is uncertainty of additional tariffs. That is playing out over the next several months with respect to china and even automobiles, with the respect tariffs on automobiles. And if you are running a company, by the way, not just Large Companies, if you run a company you have difficult planning because you dont know the cost of goods to sell to consumers in the United States or the cost of something you are making in the United States. And it is not just there tariffs on our imports, it is tariffs posted in retaliation for the egg industry and increasingly manufacturers. Janet the university of Michigan Confidence numbers just came out. W
New york times and Chris Rugaber with associated press. Chris, go ahead with the first question. Chris lets talk about trade. 40 of the fortune 500 has complained on earning calls and so forth about the impact of President Trumps tariffs on chinese imports and other items. How big and impact is this hurting companies and compare it to the benefits of the tax cut in 2017, which reduced rates on business. Have these tariffs gotten to the point where they are almost offsetting the benefits of the tax cut . Neil there are two impacts, the first is the tariffs in place and already a cost obviously for business, and the second is uncertainty of additional tariffs. That is playing out over the next several months with respect to china and even automobiles, with the threat of tariffs on automobiles. And if you are running a company, by the way, not just Large Companies, if you run a company you have difficult planning because you dont know the cost of goods to sell to consumers in the United S
The microphone he sent a less clear message. Usa china come to the table but trade talks fizzle. For decades, china has taken advantage of trade. President trump has said we will fix this. The Prime Minister loses when it is him against the markets. The biggest week of earnings season with Powerhouse Companies reporting. Better than expected cash flow which we have not seen for a long time. In the second half of the year things should pick up. We are seeing a little performance art. Mexicos president speaks exclusively to bloomberg. He says Interest Rates are too high but he will not intervene. We trust we are not just going to grow but also to develop. Some of europes largest banks say it is high time or rates to come up. Fundamentally negative Interest Rates not just for the future of banks at stake right now. It is all ahead on bloomberg best. Hello and welcome. I am emma chandra. This is bloomberg best. The weekly review of the most important interviews from Bloomberg Television ar
Steven mnuchin steps in for new york bancorp. And boeing having issues are regulators over the door plug blowout. Its thursday, march 7th, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Thank you for being with us. We get you ready for the trading day ahead. The major averaging snapped a threeday leez losing streak. This action in the premarket after we heard from jay powell saying he continues to expect Interest Rates to come down this year, but not ready to say when yet. It will depend on the path of the economy. Our focus is on maximum employment and price stability and the incoming data as you look at the outlook. We checkfor treasuries. We continue to watch yields throughout the hour. We are watching the Energy Market and oil with wti hovering close to 80 a barrel. Tensions in the middle east continue to rise after the Houthi Missile attack yesterday that killed three on the cargo ship in the gulf of aden. Take a look at
Subprime mortgage crisis again, and how would they force a bank to give a riskier borrower larry thats right. Youre exactly right. Theyre so stupid, theyre repeating the same mistakes. Elizabeth youre the best, larry kudlow. Were going to the take you through everything a that larry just talked about and what the media is not covering about hunter biden in court today and what theyre not covering about President Biden. But first this this is now hitting the white house. Third bank failure in just two months, were talking First Republic. Three of the four biggest failures in u. S. History happening since march, and where will the next shoe drop . Kelly to grady live in los angeles with the story. Kelly. Reporter its great to see you, liz. And, you know, with First Republic teetering on the brink for a couple of weeks now, remember at its last Earnings Call it announced it had lost over 40 to of deposits since that collapse of Silicon Valley bank and signature, that equated to over 100 b