On jerusalem is a step towards peace. He said that israel will continue to work with the president and his team to make true. Ream of peace come in a televised speech, the Palestinian Authority said President Trumps decision rewards israel for ignoring International Agreements and encourages occupation and ethnic cleansing that will serve extremist groups. He added it also undermines u. S. Credibility in the middle east process. United nations secretary general Antonio Gutierrez said he any unilateral action on jerusalem that could undermine a twostate solution on the israelipalestinian conflict. He called jerusalem quote a issue. Tatus it is only by realizing the states, living side by side in peace, security recognition, with jerusalem as the capital of allel and palestine and final status issues resolved permanently through negotiations that the legitimate aspirations achieved. Ople will be he added again quoting there theo alternative to thestate twostate solution. There is no plan b. , end quote. Live in new york, im julia chatterley. Im scarlet fu. And im joe weisenthal. Were 30 minutes from the close of trading here in the united states, not much investors asor stocks swing between gains and losses. The question is whatd you miss . Trump takes a controversial step and a major change to u. S. Foreign policy. Jerusalem as israels capital, ignoring warnings from foreign leaders would spark fresh violence in the region. In washington, the senate is voting to go to conference with tax bill butthe house conservatives are ringing spending. On federal well have congressman jim jordan join us and both beyond numbers, broadcom will report Fourth Quarter results after the bill but investors are eyeing their next step. Whatd you miss . [inaudible] in the coming years as it focuses on Profit Margins over sales volume. According to a presentation delivered in new york today. It to theg to send presentation at the New York Stock Exchange with more. Im here with lets get it. T to you said that if you guys had to, you would bring on excess capacity to keep the Iron Ore Price in check from going too high. Could you expound on that a little bit . My point here is the following. Ore is the largest iron producer in the whole world and this comes with a responsibility. Responsibility of balancing the market properly. That means that we dont like go down too much, but we dont like either when prices go too much to the high side. Why is that . Clear toason, it was see during the supercycle, when way, allsustainable the Companies Made too much money and they didnt know what do with the money in general. There was a total value miningtion in the sector. We are talking on the of 1 trillion that avail. Vested to no when theres no sustainability it, it creates a big sequence. The therefore, we are here and we are for the long run, its very moretant for us to have a sustainable market than too much ups and downs. Same vein, china obviously a Huge Consumer on the market, were talking over 50 of all metals. When you look at china right now, what are you expecting going into 2018 in terms of growth there . We are quite positive on china, actually. I just came from china and i had being with all the main steel producers there. Good shape. A very theyre expecting a very good year. The government is talking very seriously about controlling pollution and they have projects, chinese projects outside china using all the available to the point that vale, the chinese are its two exports at this price moment. When we look at the chinese production, especially in the steel sector, theres talks about theyve been back because of Environmental Concerns and environmental policies, getting of theserty mines, dirty mills. I mean, how far do you think theyre actually going to go this . The impression that im getting, they are for real on this. A very important matter. Comes to become as china is looking for a developed country. Cope with pollution and they want to give their citizens a better life standard. Tos in my opinion is here stay. And how long is here for staying . Well, the pollution problem in china is just too big. Copell take many years to with that. Whats turn to vale again and dividends. Y to you guys had talked about when you bring down your debt enough youre going to bring out some dividends. Could you give a little more context to that . So look, ive been a deep way what is miningr the health of companies . And my opinion is that mining to copes are not able with large debts because of the the ore. Y of so subsequently, vale will reduce its indebtedness and is not going to acquire cash if pay anymore. Bt to it will pay pack dividends because the purpose of vale has enhance value to shareholders. Made vale we made a bold remark that we want will the company that create more value to shareholders in the next few years. Last thing. N to one nickel, you guys discussed nickel today. It seems like in the past youve been a bit bearish, maybe not so troublesc, maybe more than other mining operations, but you seem a little bit more electricecifically on vehicles. Why are you now starting to tune . That first because of an internal reason. The is turning around nickel operation and weve been lot. To reduce costs by a that means even at todays prices, we can be cash positive our operations. That helps a lot. That, theres the optionality that comes with e. V. You look, it doesnt matter to whom you talk, e. V. Is a consensus that is here, e. V. Is real, theyre a and theres a chance that it will affect positively of nickel and vale is the largest nickel producer in the whole world. If thats true, the benefit will be huge for us. Forell, thanks so much being with us, and were going to throw it back to you guys in the studio. Thanks. Thanks very much, that was the vale ceo, got the pronunciation right the second around. Weve got some breaking news here from capitol hill. It senate has voted to join the a Conference Committee for the tax overhaul bill where they will iron out, reconcile ther differences between two versions of the legislation. So this is just the next step in cut bill, thex tax bill a reality. So we move further along that continuum. Now, coming up, are house conservatives and speaker ryan to some kind of end of the Year Spending deal . Were going to speak with congressman jim jordan, a and member ofohio the Freedom Caucus on why hes enthused about the spending bill. This is bloomberg. Its time for the Bloomberg Business flash. A look at the biggest Business News right now. Massive opportunities in china, healthcare and Education Sectors. Founder of chinas Biggest Social Network and gaming the annual forum. Chinasor i believe Education Sector will grow to become a market thats worth dollars of billions of and the healthcare sector here will be even bigger in size. Inh industries are still their early stage and our strategy is to make a bet on all horses. In at least seven internet medical companies, we dont know which investment is to eventually pay off, but we believe this industry is the to eventually pay owners d all [inaudible] his extension had been up in the air since may after some owners process. Delay the saks avenue is still reeling from retail slumps. Sales fell also and ecommerce by cuts meanturt to reduce costs and thats your flash. S breaking news here from dow jones on disney. Chairman haseo and said likely to extend his tenure past 2019. Him through takes 2019. Hes already extended his tenure three different times so this the fourth time potentially if we are to believe this report. Shares,ook at disneys the move, it did get a little bit of a kneejerk reaction here itsyou look at it, but still down by 1. 4 . Disney when we look at it has been in discussions according to our reporting and other reports bewell that its going to looking to buy some assets from 21st century fox. A significant proportion and you have to wonder whether if indeed, this deal is going to take place whether someone who disneys business is necessary to remain part of this deal. Whats interesting is the has reported in recent days that James Murdoch who is one of top guys has been suggested successor. Ial who knows. Stranger things have happened. Well continue to keep you that. On in the meantime, we get now to our stock of the hour, the worst the nasdaq is. Enry schein we have been checking it out so whats driving this drop . Appropriate for this show in particular, amazon, of course. Exactly. We now have amazon threatening involved in, healthcare supplies and we have stanley cutting shares overall, saying that amazon, the amazon in the markets are quote unquote undeniable. He had said the concerns are overdone, but based on the price and the mix and volumes deteriorating [overlapping speakers] amazon have to do with dental . I was looking into this myself, and i think that its standpoint. Ply if you go to their website theres so many different aspects of the dental market Healthcare Market and the veterinarian market that they supply so i think its the the interesting thing is if you think about it that the relationships between these sorts of companies and dental offices or veterinarian offices, medical offices, you have to believe that the ofationship is a big part this sale. If we look at the revenues, so bare case, in 1999, this stock had been 3. Its now above 60 and these are the revenues growing over the last few years, theyre expected to continue to grow. Degree of the growth is going to moderate. While amazon apparently is market, itn the seems as though this Company Really is somewhat entrenched, out in a to build global manner, i guess time will tell as to whether or not amazon take over. The fundamentals do support a this but why else has stock been supported so nicely . Its the fundamentals in terms of those revenues just, growing quite solidly and the companys strategy to build out globally and those strong relationships that they have with the various offices. Thank you. You. Ank coming up, house conservatives and speaker ryan, spending deal . Well talk with congressman jim ardan, republican of ohio and member of the Freedom Caucus, why hes not enthused about it. Ist coming up next and this bloomberg. A 1 trillion problem. Some house conservative lawmakers are raising the alarm weeksederal spending two after voting for tax legislation that would raise the deficit over the next decade. Runs outal government of money at midnight on friday and Speaker Paul Ryan will need the votes of the House Freedom to keep the lights on so how close are they to striking a deal . By congressmanw jim jordan, a republican of ohio and a member of the house caucus. Joe. Congressman, jordan thank you very much. About the immediate situation at hand, keeping the government open. You thatistic are were going to get a deal to at least keep the lights on for the next few weeks . That will happen. We would like to know whats going to come next and are we to break this pattern of democrats hold up National Defense funding, spending for troops, they always hold up and say were not going to pass the defense bill, the defense appropriations bill until you agree to increase social welfare to breakand weve got that pattern so how are we going to break that . Do what the voters elected us to troops havee our what they need to defend this great country but not increase so weng everywhere else can have a better chance of getting a grip on this huge debt we currently have. Congressman with hasnt the president broken this pattern once already this year by saying that look, as far as his party is concerned in the gop if to try to hold him to ransom hell make a deal with chuck. Nd is holding leverage over the Party Relevant anymore . To passoint is it is the house of representatives and so thats something were looking at. Body, the constitution, the founder said bills, tax bills start in the house of representatives. We have to approve it. I think the president is doing a were going to continue to work with him like we have been, but we also have to understand that theres this concern and we cant let democrats demand more and on nondefense Discretionary Spending like they have in the past and we cant let them use that to hold our defense spending needs in that bill hostage. So just to be clear you willing toe back down here and sign a temporary deal that takes us to december 21st to make sure the government is funded . Thosemay and were having negotiations and talks right now, but we would like to know what step two is going to be. Just do a shortterm spending bill between tomorrow december 22nd, whats the next bill going to look like . Is it, in fact, going to deal outlined . Roblem ive congressman jordan, persistent criticism of the party, going back, probably decades and seeing it that yought now is talk about deficits and you talk about spending in the opposition, but then when in power, you pass tax cuts that are estimated to blow out the thecit by a trillion over next decade. How do you reconcile those things . No, no, no. Letting people keep more of not a cost to government. Thats simply called freedom. Thats letting you keep the earned. Uve so i just fundamentally agree with this revenue neutral approach. In washington is that where it talks about. Never forget about what that is. Revenue neutral is a financesy saying were going to shift around who pays what and i just dont buy the premise that keep your taxo dollars, your money is somehow a cost to the government. Taxhat im focused on is a bill that will do three things. Code and, simplify the be conducive to producing Economic Growth. Thats what we should focus on passed, then we should also do what we were just talking about. Control spending. The Freedom Caucus is all about. I guess i would reframe my question. Deficitsoncerned about and the National Debt . Of course, of course, we are. About. What i just talked we want to control this nondefense Discretionary Spending. The constitution says were going to spend on National Defense. Lets control all the other spending and begin to tackle burden werillion debt have, but also, you cannot tackle a debt of that magnitude if you dont get stronger growth and what we had eight years under obama and right now, the economy is moving in the right direction. The right kind of tax policy in place i think we will get that four, four and a half percent growth that we need to be able to deal with a 20 trillion debt. How . Ngressman, weve spoken to so many strategists and economists and cannot find one that believes actually this overhaul will lead to stronger growth. Shortterme its a juicing of the economy and actually the back end is going theave a real problem and fact that actually its simply not going to be funded. So you think keeping the corporate rate the highest in the world is going to help us grow our economies at a better rate . How about the fact that if we bring our corporate rate down, let people keep more of their money who are going to turn it, put it to use in the economy, that will produce Economic Growth, because every time its worked. Ed it has so thats what were focused on doing. Once you get that Economic Growth, youre all right. We do have to control spending so that we can deal with the debt, but weve got to get Economic Growth and lowering the corporate rate is certainly going to lead to Economic Growth. For what its worth, the economists wethe talked to would make is that the Corporate Tax rate is already where it is because, you know, some pay less, some pay more so there isnt a lot of juice. Say it makes sense that well get some efficiencies and we might get a little bit of that ultimately sort of that efficiency isnt going to juice extra spending so why do you think otherwise . So if its already were in the differences in the tax code, why are Companies Going to other countries that a lower corporate rate . It wouldnt make sense. Islowering the rate certainly going to help with Economic Growth. I think its going to help attract companies to come here here. Ndicap i think it is completely a positive and thats why so many other economists have also said rate, it corporate will produce Economic Growth and were already seeing it. The anticipation of the tax reform, and i think the confidence that President Trump has instilled has already shown andmarket going up and up weve hit 3 and higher growth rates the last two quarters. Obama. R did that under it never happened. So were already moving in the right direction. If we get the right kind of tax in place it goes even more. I wanted to ask you about your press Conference Today because you were demanding answers of the fbis treatment of secretary of state, former secretary of state Hillary Clinton and of President Trump during the election cycle. What action do you want to see . Counsel. T a special weve called for this in july and things we have learned since reinforce why we need one. I mean we have learned in the last several weeks, we have Clinton Campaign and the Democrat National committee, which actually were one and the same, we learned they paid russians to influence the election, right . They paid the law firm who paid gp