U. S. Dollar versus the Canadian Dollar. Again, all of the things that have been happening with that potential trade war. Tariffs being slapped on canadian lumber. We will talk more about that in a moment. Take a look at what happened in the asian markets. The nikkei ended up by 1 . The hang seng market was up, too, up by a third of a percent. There are green arrows for most of the major markets. The cac in france is indicated up 0. 25 . The dak x is is slightly lower. If you look at crude oil prices, wti is trading below 50 a barrel. Its up 13 cents, but wti for the june contract at 49. 36. Among the other top stories, tensions with north korea on the rise. Today the country reportedly conducting a big livefire exercise. All to mark the foundation of its military. Top Trump Officials will hold a military briefing tomorrow at the white house, which will include the entire United States senate. The Trump Administration plans to impose a new tariff on canada. Wilbur ross announcing the plan to implement a 20 tax of imports of canadian soft wood lumber that would be effective retroactively. Ross said the trade dispute centers on canadian provinces that have been allowing loggers to cut down trees at improperly subsidized costs and selling them at lower prices. The Canadian Dollar is down 0. 4 against the u. S. Dollar. A big interview coming up. Commerce secretary wilbur ross will join us at 7 00 a. M. Eastern time in a first on cnbc interview. And new details emerging on President Trumps tax plan. Reports say that he has asked aides to draft a proposal that would cut the Corporate Tax rate to 15 from 35 this could set up a fight with some republicans on the hill. Because the lower rate could mean a loss of revenue and that could drive up deficits. Is that even real . I dont know. 15 . I know people in the white house who say 15 doesnt make sense. Im not sure how this is an opening gambit. An increasing the deficit perspective . The top line is 35 . We know most companies are probably in the 20s. This is like alice in wonderland. There is no way to make 15 in terms of the math working. Do you take the red pill or the blue pill . Unless you look unless you dynamically score it into the money heavens. Which is which Steven Mnuchin has told us theyre working on. And larry kudlow and the other guys who wrote in the oped last week were talking. Dupont earnings out right now. An adjusted number of 1. 64. The street was looking for 1. 39. Several different numbers. Continuing operations of 1. 52, actual earning of 1. 27. Looks like a beat of expectations. Dupont came in with sales of 7 7. 7 billion versus 7 7. 5 billion. The stock is unchanged right now. Other headlines coming out. They say that they are looking for that dow chemical merger to close in august. They also say they see the first half adjust the earnings per share of about 2. 90. Really quickly trying to do the math. Thats above where the street estimates are now. If you add up the first half and second half, estimates are closer to 2. 40. So, it looks like theyre raising guidance for the First Quarter. A little more color. You know the numbers, like you said, a beat on eps, beat on the top line. Gross margins up. Volumes rose 4 . A new soybean variety in latin america driving sales as well. Top line, bottom line, guidance, everything looks good for dupont. Yeah. Stock is unchanged now. Well keep track of this. The other big political story of the week, we were talking about whether there will be a shutdown later this week. Political leaders faced that midnight friday deadline to reach a spending deal or face a shutdown. President trump indicated hes willing to back away from his demand that a government funding bill include money to build the wall on the u. S. mexican border. U. S. Officials say trump is open to obtaining funding for the wall later this year. This has been a major Sticking Point in negotiations to avoid a shutdown. But reality on the wall has finally arrived. I cant say its surprising to see this, because it would have shocked me to see a Government Shutdown based on this. It was shocking to me that we were talking about the wall in the context of the shutdown. That was thrown in a hornets nest. On todays agent dafshagend, the monthly s p caseshiller home price index out at 9 00 a. M. Followed by march new home sales and april Consumer Confidence at 10 00 a. M. When it comes to the earnings front, we just heard from dupont. Thats one of five who report before the opening bell. The others are 3m, caterpillar, coke and mcdonalds and well hear from eli lilly and lock seed millie. At t and chipotle report after the close. Cocacolas incoming ceo, James Quincey will be on squawk alley today at 11 00 a. M. Eastern time. All week weve been taking a closer look at President Trumps first 100 days in office. On thursday, becky, joe and i will be in washington to speak so some of the most influential names in government including kevin brady, steny hoyer, senator rob portman, senator david perdue, House Freedom caucus member, David Schweikert and Democratic Caucus chairman, joe crowley and commerce secretary wilbur ross, who we will also be seeing this morning. We want to get over to washington. The Trump Administration still has a lot of positions to fill. Just 23 positions confirmed by senate, 473 appointments awaiting a nomnominee. Lets find out where the white house is lacking staff. Kayla tausche joins us this morning from the capitol. Good morning. To deal with those political battles you have been talking about, funding the wall, government spending, healthcare, tax reform, you need people. As of last night that number went up to 23 with the Senate Confirming sonny perdue as secretary of agriculture. In total 1242 positions require senate confirmation. The Trump Administration is behind progress of other administrations. The president prioritized cabinet secretaries, but only one agency, homeland security, has a deputy secretary. Many offices like the comptroller of the currency have leaders serving past expired terms. Reince priebus said this weekend there are hundreds in the queue because of historical unbelievable obstruction from u. S. Senators that are wakactin inappropriately. Some of the vacancies have impact. Its harder to draft and pass policies in a timely manner. Treasury has more than 100 people working on tax reform and tomorrow we expect just an outline of the principle thats white house is pursuing. The other impact is advisers without confirmation consolidating power n this specific case trumps family. If you try to run the government as you would a family business, run everything think one Single Office you wont get much done and small things will become crises because you wont have the opportunity to get to them. Ivanka trump is in berlin on official Business Today promoting womens empowerment. She had an oped overnight on that topic. Its unclear if the president is choosing to run the white house as a Family Office out of preference or out of necessity and whether that will continue as some of those vacancies get filled. Thank you for that. We look forward to seeing you in person hopefully in just two days. Looking past the geopolitical risk of the French Election as the dow surges more than 200 points following sundays outcome. Lets find out what else is on the radar that could upset the markets. Joining us is ian bremer. You make your money as president of your razor group. Yep. I want to talk france. Can we talk about this headline on the front page of the wall street journal. U. S. Readies candy lumber tariff. We will talk to wilbur ross at 7 00 this morning. First point, if you want to do something on trade, this is the equivalent of quind of liki shaking down the little kid for lunch money. Its canada. Its relatively small. Soft lumberment g mentlumber. They have no plan b but the United States. They dont china is the bigger problem. But weve given 100 days to wilbur ross to figure out how well work more closely on a broad swath of trade issues with the cli these. A chinese and trying to get their help on north korea. If were changing nafta, i expected it would be mexico that we would be slapping tariffs on first. That was all the rhetoric early on. A couple months ago we were still buddy buddy with trudeau. They were hear, there was a lot of nicy nice talk. I heard from canadians around those meetings afterwards that were worried, we dont know who to deal with. It will be challenging. They were slowrolling it in part that was before rwilbur ross was commerce secretary. I think the actual oneonone with trudeau and trump went well because trudeau was cautious and trump was asking for help on immigration. Oh, thats good, theyre asking us for something. As you know, these headlines can come from anywhere. The big mistake people made is the narrative, you have bannon on one side, gary cohn on the other side. Trump is in between. Trump, jared, and i think most of the team on trade, theyve had a feeling from day one that economic nationalism is required. That American Corp ralorations fundamentally globalist, that the american presidency has to get better deals by being tougher and pushing american strength. We could win. You remember davos, scarmucci shows up and said we can win a trade war with the chinese. Frankly, yes. It will hurt both of us, but whos bigger . You put that together with 100 days, they want to make some announcements on something, this is what you get. This an opening salvo or a little shot of nothing . I think its the economic trade equivalent of what we did on syria you have a range of ideas, you pick the one that allows you to say you have done something without risking much. Thats what theyre doing. People looked at syria and said this was the right measure. It was very measured. It was not something that was going to stretch beyond any of these issues. Is that same story here . Dems are not happy with the canadians on dairy. Almost anyone you talk to say this is one where you may not like trump, but there is a trade problem here. It needs to be addressed. Its not like soft lumber has come from nowhere. This is the culmination of a dispute that began in 1982. I knows there going to be reaction to this. Trade war coming with canada. The initial deal expired in 2015. It looks like the Trump Administration is just continuing what previous administrations had already put into the futures market the futures market knew this was coming since the beginning of the year. Lumber prices have been shooting up because they expected something to happen. You can make a clear and bipartisan argument for why this is an okay measure. You could have done the same thing on syria. Saying this is obamas chemical deal, didnt come through. Trump wont put it forward that way. He is made for tv, but the reality is not much. Youre corporate clients are reading this story this morning and calling you and asking what . They want to be calmed down that this is not going to lead to a broad american antitrade protectionist regime. You plan to calm them down or stir the pot . For now i calm them down. But we recognize taking steve bannon off the Principles Committee of the National Security council did not suddenly mean Goldman Sachs took over President Trumps trade policy. Number one, bannon has been involved in this. Number two, theres a feeling that trade the first thing that trump did of meaningicy pe of the transamerican trade deal. Nobody was campaigning on that. Hillary clinton was not campaigning on that either. Hillary said she wanted a legislative fix, heres what im doing to help the workers. Now well do tpp. When he talked about the jobs picture this is the one thing that polled for him very well. On both sides of the aisle, they wasnt fair deals for americans. The wall street journal, i see America First. You have had no legislation in the first 100 days, but you have had executive orders. You got beaten around on immigration. The headlines President Trump seeks to revive 30yearold lumber deal is not as sexy as president slaps 15 or 20 tariff on imported canadian soft wood. Like the syria strike, it probably sends a message. This is the sexy evident wall street journal sed dine he headline hes had since the syria strike. It sends a message listen up or we will take steps to impact you. I think all of American Allies look at trump and say this guy has more capability to do volatile things that could damage the relationship. Hes not as committed to us. Certainly there are some negative aspects. If youre a company like germany, you will hedge away from the u. S. If youre mexico or canada or the uk or israel, saudi arabia, japan, whoever you are run by the United States is the only superpower. You have no choice. So, trump called the first 100 days his contract with the american voter. Has he kept the contract . No but thats okay. He changes his mind on a lot of stuff. Like the wall, for example. We are not ready for the wall. China is not a currency manipulator. Nato is now before he was against it, now hes for it. If youre going to check him on facts, then, no this is a disaster. But lets leave that aside. Do we feel does america feel more great again under trump given what he says and what the base is watching . Yeah. I think they feel happy. If your watre watching squawk in the morning, i would say on balance trump is not your guy right now. Okay. Ian bremer, thank you, sir. My pleasure. We have much more to do including fallout from wells fargos fake account scandal. Shareholders will vote today on whether to oust some Board Members and shake up the boards governance. Well get a live report from that meetings next. At the top of the hour, are we starting a trade war with canada . Commerce secretary wilbur ross will tell us why the u. S. Is slapping new tariffs on lumber. Thats a first on cnbc interview. Squawk box will be right back. Excuse me, are you aware of whats happening right now . Were facing 20 billion security events every day. Ddos campaigns, ransomware, malware attacks. Actually, we just handled all the priority threats. You did that . We did that. Really. We analyzed millions of articles and reports. We can identify threats 50 faster. You can do that . We can do that. Then do that. Can we do that . We can do that. Rays always been different. Last year, he said he was going to dig a hole to china. At t is working with farmers to improve irrigation techniques. Remote moisture sensors use a Reliable Network to tell them when and where to water. So that farmers like ray can compete in big ways. China. Oh. He got there. Thats the power of and. Welcome back to squawk box. Shares of express scripts getting crushed this morning. They announced yesterday that anthem would not be renewing their contract. Heres what the ceo had to say on closing bell yesterday. Our model allows us to create competition, not only amongst retailers, and the supply chain, the manufacturers, the generic companies, all of those are things well have tremendous scale to do. We dont need to be associated necessarily with any particular part of the supply chain. I like the fact that were independent. That we can drive down costs for our plans and our patients by creating competition. Well be plenty big enough to be able to do that. Anthem sued express scripts last year saying the company was overcharging them and not passing along the savings. Express scripts was the main company at the epipen scandal. Once the news broke, we spoke with heather bresch, she threw the needle at express scripts. This whole pharmacy benefit managers, they talked about them in congress. Theyre bubbling up from what companies and industries few people have heard of. I never understood that entire blame the pharmacy benefits manager. Maybe there was markup there. A lot of the original markup came from the company itself. If i seell ian a cup of coffee, you take your cut, andrew takes his cut, but then lets pull an amazon, jack up the prices wasnt all the market came from me and andrew, it started with you, brian. Dont blame me. Its just an analyses. Analogy. But they take a percentage of the hike. The more i hike, the more you hike, the more in other corporate news, marcato capital said Buffalo Wild Wings made an astronomical error in proxy materials filed last week. Marcato said that the chain falsely outperformed the s p 600 restaurant index over a fiveyear period. Last week, marcato called for ceo sally smith to resign. The relative share Price Performance there for you. Fireworks are expected at wells fargos annual sharehol r Shareholders Meeting today, this is because of last years scandal in which the bank admitted that some employees opened multiple accounts in customers names without consent to meet sales goals. That resulted in the resignation of john stumpf. Leslie picker has more. Reporter im told votes are still being tallied. We are told, this is according to a person familiar with the matter, that several directors are actually close to that 50 threshold. Anything below that 50 threshold would cause them to need to submit resignations. Wells fargo clawed back hundreds of millions of dollars. They had hundreds of millions of dollars worth of settlements. Executives have resigned but some Share Holders want more flesh, and the influential proxy Advisory Firm such as iss are urging shareholders to vote against 12 out of 15 of the directors, including the chairman, steven sanger. This is extremely