Roy moore. During the show, if you are watching, you heard me say it might be tomorrow or thursday. We had hence it might be pushed to thursday but an hour ago we had official word was back on for this hour today. Blake is at the white house. As were waiting on the white house, any clarification of what it is . Whats behind the change of heart on timing. The president initially said this would be on wednesday then as the trip wound down and the reality came that folks had to settle back in, maybe they would push it to thursday but clearly the president wants to make this announcement on this day, his first full day back from his five nations stop. He had already laid out this was going to be about traded north korea. Those were the very to top of the item things that the president have been talking about as he was going across the agent region. He was throwing out a couple different figures saying there were 250 billion in the deal, 300 billion in deals, that it would triple or quadruple. We will see if the president makes any sort of additional announcement on the trade front. Heres how he framed it. Weve had a tremendously successful trip. Tremendous amounts of work was done on trade. We have at least 300 billion worth of deals but that will be triple that member in a fairly short time. Very clearly, the white house wants to focus on what they see as the success of the overseas trip. The reality is, now that the president is back here in the u. S. , there is a burning controversy within the Republican Party of what to do with the Alabama Senate race, specifically what to do with roy moore. We were given leanings that the president could talk about this though it doesnt appear that has hashed out yet. I guess its a waitandsee whether he comments on this today or at some point down the line. Things are scrambling. You see blake there, our cameras are on the inside. We will take the president as soon as he appears. Timing on white house announcements not the only volatile thing. The dow is down more than 120 or 30 points. The volatility index is living up to its name. Its fear index in attaining the highest level since august 21 and pretty much you can focus this on investors waiting on what President Trump might say. Seeing it jump triple digits spooked the rest of the market. We are off the low of recessions but a way about a hundred and ten points, sitting in the red with the triple digit slide. Lets take it to target. Not a dow target but it is getting slammed after issuing a bleak forecast for the current holiday quarter. Target is down eight and a quarter. That 55. 12. Then you look at walmart and amazon collectively serving as targets grinch who stole christmas. Why . Target had to cut prices in order to compete with the two retail giants which crushed its thirdquarter margins. Its currently the worst performer in the s p 500. Ge is the worst performer on the dow for the past two days, now jumping to the top of the index. Its up one and threequarter percent. Thats all it needed to get to the top. We will have much more on their big makeover coming up with charlie. Were not only awaiting the president , we are waiting the house and the senate to take their next step on tax reform. Its expected to begin their debate on the tax bill any minute while the Senate Finance committee is marking up its version. It could vote on the new bill which is the individual mandate in obamacare. This is all in a state of flux. Adam is standing by on capitol hill. It kind of appears that the tax reform fight just got a hold out heavier. The democrats are furious with the big headline from yesterday which is the repeal of the obamacare individual mandate. It has become a huge issue. When you talk about the timing, we expect the house to vote on their version of the tax bill tomorrow and pass it and then it will wait for the senate. They dont have the repeal of the individual mandate. Senate finance committee could vote perhaps tomorrow, friday, the democrats could slow this down with the amendments they have but all are betting that they want to get out of here for thanksgiving and will have a vote by the end of this week out of finance committee. Here is what this measure will do as a heads forward. The repeal would expire in ten years and would come right back where it is today as with the tax brackets. They would expire in ten years and be right back to the brackets we are today. The new standard deductions being doubled, they would expire and come right back to where we are today. The passthrough income tax rate for qualified businesses, right back where we are today. Thats if the future congress does not extend the tax break which are part of the current bill. Thats just one of the issues that democrats are taking up thing this is not a middleclass tax cut and of course the repeal of the obamacare individual mandate. The Ranking Member on the Senate Finance committee, he was furious this is happening. Listen to what he said. The republicans apparently couldnt get through lunch without hatching another plot to go after american healthcare. Apparently sometime between the salad course in the entree , it was decided that permanent Corporate Tax cuts should be paid for in part by kicking 13 million americans off their healthcare and raising premiums for millions more. Republicans are insisting this is a middleclass tax cut. The Corporate Tax cuts do not expire. They will become permanent. This is where the fight is playing out. If you were to put money on all this, betting money would be this bill will pass before the end of the year. They have 80 expectation that this becomes law. Warren buffett said it will pass because the republicans need and want to win. They do by the end of the year. Adam, thank you very much. Adam was talking about this elimination of the obamacare mandates. We are looking at the house, the entire house is set to begin debating its tax reform plan ahead of the big vote. I want to make this clear. This will be the whole house vote tomorrow. Before it was just the house ways and means committee. When they through this everybody was saying how does this add more revenue. Take a look at the revenue, the federal government is bringing in through the mandate tax of the next ten years. It is a total of 88 billion. Then look at this. Once someone buys a healthcare plan, the government subsidies kick in to help them reach the full cost of the plan. This cost the federal government around 426 billion through 2027. The way the senate sees it is thats a total of 338 billion in savings for them in revenue if the individual mandate is repealed what lies ahead for getting this repealed. Republican congressman from tennessee, diane black. Its not in the house right now so tell me, will it be . Are you just waiting on the senate to see if they can get through . We are moving forward on what our plan is. Our plan did not have that included in it. The senate will do what the senate is going to do. You all know we are able to pass repeal and replace out of the house. The senate was not able to do that. We are fully in support of the mandate. This will give them an opportunity to say heres what i want, heres what the insurance coverages that i can afford and lets let the marketplace work. We have been fully in favor of repealing the individual mandate. Its hurting people so badly in my state. We are going to let the senate do their thing. We are moving forward as you have indicated, with our plan. We will be voting on it by tomorrow afternoon about 1 00 oclock in the afternoon. Theres been several failed attempts this year, as you know and as you reference to pass this repeal and replace of obamacare. Im just wondering, does anyone look further down the road and see that that might mean a lot of people wont buy insurance because they dont have to so the weight tell their worst and most expensive moment where they are the sickest, show up on the hospital porch and you and i will have to pay for their healthcare. You know its really interesting, we dont care that talk about very often but even when the mandates were in place, both the employer and the individual, there were 20 million americans who decided not to get insurance and pay the penalties. They can show up on the doorstep as you say, but they want the option to do that. I dont want them to have the option to do that because then who pays, my dad was a surgeon and i know your part of the deal for doctors caucus. You know all about this. My dad said these people showed up at the doorstep. We cannot and turn them away so cost have to go up for everyone else to cover them. Heres what we know. If we allow people, if we allow the market to work, back in my state of tennessee, they have plans that people like and they can afford it and when obamacare came into place they said you dont do everything we want you to do therefore you cant use that plant. It was a plan they like, a plan they supported so they decided to farm bureau would keep those products they would be willing to pay the penalty and keep the promise. Thats an example of how it can work. It has not worked. 20million people decided to get an exemption or pay the penalty and not be insured. Congressman, before we go, the vote is supposed to happen in the full house at some point today. Can i at your promise on that question i do think that will happen sometime today. The vote on our plan will happen tomorrow. Around 1 00 oclock in the afternoon. Every indication that we have, im on the team and talking with folks and we do have that supported and we will be helping the American People. They are the real winner. Thank you very much. We do appreciate it. Will be talking to you. Im sure Everyone Wants to know will that of elimination of the mandate eventually make its way to the house plan . Lets quickly check on how the Health Insurers are absorbing that. Lets call cigna flat. Anthem is just slightly higher. The rest of them are down. These stocks tend to move on any given headline that relates to obamacare. We will be watching. When we come back, peak oil and gasoline, are you going to be driving an electric vehicle or hybrid by 2030 . Station. Summary said yes. President trump heads to capitol hill to iron out tax reform. Gene simmons says you have the power to create your own success i think its terrific. Your kids go to college and you start trading. Yeah, 5 years already. 5 years, hmm. You ever call your broker for help . Once, when volatility spiked. And . By the time they got me an answer, it was too late. Td ameritrades elite service team can handle your toughest questions right away with volatility, its all about your risk distribution. Good to know. Thanks, mike. We got your back kate. Does he do that all the time . Oh yeah, sometimes he pops out of the couch. Help from real traders. Only with td ameritrade. Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. I want to tell you, i always put together these handwritten notes and i keep them for the full month. Last thursday oil was 57 and change. Today it is closing at a nearly two week low to 5527. This fall, a surprise climb in crude inventory for the second week in a row. It rose by 1. 9 billion barrels for the week ending november 10. Thats not that much but you string two weeks of that together and surprise builds and youve got too much. Gasoline stockpiles also rose by 900,000 barrels after the same week. People were expecting a loss, a drawdown of 800,000 barrels and change. This falls in line with the report by the International Energy agency that predicted the u. S. Will be a dominant force in the global oil and gas market for years to come, but will they reach a saturation point by 2025 . Will that really matter in the next 13 years . Will have the biggest impact on making all of us say i dont need gasoline anymore. It may be sooner than you think. Would mckinsey has just written a note. Will more people throw in the towel and say these cars have gotten cheaper and im buying electric or hybrid. That afternoon. What we are saying is we think it will peak by 2030. This is government mandates and pushing through fuel efficiencies. The post 2025 we see significant penetration of electrical vehicles and we think that affects demand by 2035. I just made the jump. I just got a hybrid, first time, and already in thinking myself i love this because i dont have to go to gas station anywhere near as often as i used too. Its a convenience thing, but these vehicles are often a lot more expensive than the regular version, the socalled , these engines that when you look at them you say gasoline is a lot less expensive. Thats the thing. A lot of government is pushing through some form of subsidy. In the u. S. You have a tax credit. That michael way. Thats the problem. Quite frankly, some of these say they are done with subsidizing. So were looking at in terms of electric vehicles is the reduction in battery cost technology. If you like the economics of the vehicle and the internal combustion engine, we think they become competitive by 2025 which supports the economic driver of electric vehicle. If we look at competitors in the world, we know china and the president was over there saying we have to make this fair trade with china. China is very smart. Not only do they have a very, very strong electric vehicle company, but maybe theyre talking there book, i believe by 2030, there will be all new cars bought, one 100 will be electric or hybrid but on top of that, you need. [inaudible] for the batteries. China is investing in the companies that convert to cobalt. Im wondering for behind already. China house recently bought that and its a bypass product of nickel mining and there could be a supply crunch around 2030. China, in that sense, is on the front. They been supporting research and development in new forms of Technology Since electric vehicle takeoff. They also have subsidies as well that support the consumption for electricity. I think you may be right, but it will be a while before we see it. Good to see you. Thank you very much. Thank you. Closing bell, we are 38 minutes away. Caterpillar turns out to be the biggest lag right now on the dow jones industrial. Down 3. 29 at 134. Ibm also in the red and heres why. One buffet cutting his share of big blue. What we found out in is in his latest filing where they have to reveal what they did, he made this move to shed a bunch of ibm stock and that she sent other traders to sell, sell, sell. Ibm is down another percent. Will tell you more, not about what he doesnt like, but what he loves. He just built a huge position on it. We have our eyes trained on the white house where any minute president trouble make a major announcement. It could move the market. Please stay with us and keep watching anything on our screen from the ticker to the numbers and the president. The countdown is coming right back. At fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Going somewhere . Whoooo. Heres some advice. Tripadvisor now searches more. Than 200 booking sites to find the hotel you want and save you up to 30 . Trust this birds words. Tripadvisor. Think has exposure to energyfund infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp the stock may find a little relief, but finger pointing at General Electric is still going on after the stock tanked the last two sessions. Its up slightly but doesnt cover the losses from just two sessions. Even with the announcement of the cut in the dividend, we bring in charlie, back from vacation. Dont leave us anymore. While i almost missed this big story. Theres a lot of reputation. The stock at an alltime low even after other lows. The reputation, once very big on wall street and Corporate America since he was the ceo for so long is kind of in the dumpster. Where the fingerpointing is going next, among the investors that i speak to is that the board of directors. Ge was supposed to have one of the best board of directors around. John brennan, the former chairman of vanguard, both on the board. We hear from investors, where was the board from the long reign that did not do a lot of good for shareholders. He took over after 911 so there was obviously some froth in the stock when he took over but he didnt really grow the company. He got out of businesses at wrong times, got in businesses that run times so now the fingerpointing is going to the board. I cant tell you, i dont think theres been a be a classaction lawsuit over this, but now that youve got nelson firmly in control, on the board of directors, you may see a change in the board after John Flannery, the new ceo takes charge and changes his Strategic Direction of the company. Also, listen, this whole thing came up, they cut the dividend and the stock still went down. They announced a stream land plan and it still went down. Dont be surprised if in a year from now, John Flannery does something very aggressive. People say hes discussed it internally and thats breaking up the company. Ive got some breaking news for you. Senator ron johnson, the republican from wisconsin is on the screen now and said he opposes the senate tax proposal. Watch the markets. We were down 124 points with the dow before we announce this. Apparently the process was pretty much insulting. He does not like how he went and if they pass it without me, let them, im not going to vote for this tax package. The specific point, let me tell you this, he says it unfairly benefits corporations more than any other types of businesses. But heres the problems that republicans have with this plan. They do a good and necessary Corporate Tax cut taking it down from 35 to 20 but Everything Else is marginal. The Small Business tax cuts are lousy. The not very good. Its going down from 39 to 25. Its not a full decline. Part of it gets washed out. Youre only taxed on part of your income at the lower rate. They are not doing tax reform on the individual side. This is a bad plan for individuals. They gave a tax break on private entity and they screwed over middleclass people in new york, new jersey and by not allowing them if you take it away from people in other states, make sure its fair. We talked about the carried interest thing, but charlie, up until this moment when the wall street journal broke the story, no senator has opposed it. No republican senator has opposed it. They havent come out. Everybody knows, will not everybody, but john mccain is probably not favorably disposed to this. Who knows about susan collins. He may be stepping down, but he still has about. Who knows what corker will do. Hes not a big fan of the president. This is a crazy plan. They are trying to compare it to what Ronald Reagan did. Its nothing like that. We happen to have morris pearl. I dont know if you know him but he worked at blackrock. He is a chairman of the Patriotic Millionaires and he will watch the president speech with us and comment about this. Last night i returned from a historic 12 day trip to asia. This journey took us to five nations to meet with dozens of foreign leaders, participate in three formal state visits, and attend three key regional summits. It was the longest visit to the region by an american president in more than a quartercentury. Everywhere we went our foreign host greeted the american delegation, myself included, with incredible warmth, hospitality, and most importantly, respect. This Great Respect showed the well our country is further evidence that the renewed confidence and standing in the world has never been stronger than it is right now. When we are confident in ourselves, our flag, our history, our values, other nations are confident in us. When we treat our citizens with the respect they deserve, other countries Treat America with the respect we so richly deserve. During our travel, this is exactly what the world saw. A strong, proud, confident america. Today i want to update the American People in the tremendous success of this trip and the progress weve made to advance American Security and prosperity throughout the year. When i came into office, our country was faced with a series of growing dangers. These threats included rogue regimes pursuing deadly weapons, form powers challenging americas influence, the spread of the murderous cu terror group aces, and years of unfair trade practices that had dangerously depleted our Manufacturing Base and wiped out millions and millions of middleclass jobs. The challenges were inherited and these products really showed what previous mistakes were made over many years and even decades by other administrations. Some of these mistakes were born of indifference and neglect. Others from naive thinking and misguided judgment. In some cases, the negative influence of partisan politics and special interest was to blame, but the one Common Thread behind all of these problems was a failure to protect and promote the interests of the American People and american workers. Upon my inauguration, i pledged we would re build america, restore its economic strength, and defend its national security. With this goal in mind, i vowed that we would reaffirm old alliances and form new friendships in pursuit of shared goals. Above all, i swore that in every decision, with every action, i would put the best interest of the American People first. Over the past ten months, traveling across the globe and meeting with World Leaders, that is exactly what i have done. Earlier this year, in saudi arabia, i spoke to the leaders of more than 50 arab and muslim nations about our strategy to defeat terrorists by stripping them of finances, territory and ideological support, and i urged the leaders to drive out the terrorists and extremists from their societies. Since that time, we have dealt isis one crushing defeat after another. In israel, i reaffirmed the unbreakable bond between america and the jewish state, and i met with leaders of the Palestinian Authority and initiated an effort to facilitate lasting peace between the israelis and the palestinians. In brussels, i urged our nato allies to do more to strengthen our alliance and set the stage for significant increases in member contributions. Billions and billions of dollars are pouring in because of that initiative, nato, believe me, is very happy with donald trump and what i did. In warsaw, i declare to the world americas resolve to preserve and protect western civilization, and the values we hold so dear. In rome, sicily, homburg, and paris, i strengthened our parents with key allies to promote our shared interests of security and prosperity. In september, at the United NationsGeneral Assembly in new york, i urged the nations of the world join in confronting rogue regimes that threaten humanity and laid out a model for International Cooperation grounded in respect for sovereignty and the responsibility that come with it. On each trip i have worked to advance American Interest and leadership in the world. To each of these places, i have carried a vision for a better, a vision for something stronger and sovereign, so important, sovereign, and independent nations rooted in their history, confident in their destinies come and cooperating together to advance their security, prosperity, and the noble cause of peace. It was the same vision that i carried to asia two weeks ago, and it was the same commitment to you, the American People, that was always at the forefront of my mind and my thinking. Our trip was defined by three core goals. First, to unite the world against the Nuclear Menace posed by the north korean regime, a threat that has increased steadily through many administrations, and now requires urgent action. Second, to strengthen americas alliances and economic partnerships in a free and open endo pacific, made up of thriving nations respectful of other countries and their own citizens, and safe from foreign domination and economic servitude. Third, to finally, after many years, insist on fair and reciprocal trade, fair and reciprocal trade. So important. These two words, fairness and a that are so important to any country that wants to do business with the United States. They are a firm warning to every country that cheats, breaks the rule or engages in economic oppression, like they have been doing in the past, especially the recent past. That is why we have almost an 800 billiondollar. Year trade deficit with other nations. Unacceptable. We are going to start whittling that down as fast as possible. With these goals, it was my profound honor to travel on this journey as your representative. I explained to all of the World Leaders and across asia how well the United States is doing. Economic growth has been over 3 the last two quarters and is going higher. Unemployment is at its lowest level in 17 years. The stock market has gained trillions of dollars in value since my election and has reached record highs. We are massively increasing our military budget to historic levels. The house has just passed a nearly 700 billiondollar defense package and it could not come at a better time for our nation. Once again, our country is optimistic about the future, proud of our values thank you for the role you have played in making this Great American comeback possible. In asia, our message was clear and well received. America is here to compete, to do business, and to defend our values and our security. We began our important trip in hawaii to pay our respects to brave American Service members at pearl harbor and the United States pacific command, the guardian of our security and freedom across the endo pacific region. As our country prepared to observe veterans day, we remembered the incredible sacrifices and courage of all of the veterans who service has preserved our liberty and a way of life that is very o very, very special. We also thank military families for their support for our brave servicemen and women. From hawaii we traveled to japan, a crucial u. S. Ally and partner in the region. Upon landing in japan, my first act was to thank the American Service members and Japanese Selfdefense forces who personify the strength of our enduring alliance. Prime minister abby and i agreed on our absolute determination to remain united to achieve the goal of a d nuclear eyes to north korea. Following our visit, they announced additional sanctions from japan on 35 north korean entities and individuals. Japan also committed to shouldering more of the burden of our common defense by reimbursing cost borne by american taxpayers as well as by making deep investments in japans own military. This will include purchases of u. S. Advanced capabilities, systems worth many billions of dollars and jobs for the american worker. Prime minister and i also discussed ways we can engage based on our. Principles of fairness and reciprocity. I am pleased that Japanese Companies have announced investments in the United States with more than 8 billion, 17000 jobs. Thank you. Japanese manufacturers, toyota and mazda, announce they will be opening a new plant i plant in the United States that will create 4000 jobs. We signed agreements between our nations to enhance infrastructure, access to affordable trade and then we traveled to another key ally, the republic of korea. My official visit to south korea was the first panamerican president in 25 years. Speaking before the National Assembly of the republic of korea, i spoke the truth about the evil crimes of the north korean regime and i made clear that we will not allow this twisted dictatorship to hold the world hostage to nuclear blackmail. I called on every nation, including china and russia to unite in isolating the north korean regime, cutting off all ties of trade commerce until it stops its dangerous provocatio provocation, the key to what were doing on denuclearization. We have to d nuclear eyes north korea. We have ended the failed strategy of strategic patience and, as a result, we have already seen important progress including tough new sanctions from the un. We have a security counsel that has been with us from the beginning. South korea agreed to harmonize sanctions additional rogue actors whose funds have helped north korea and the nuclear program. Its unacceptable to us. The United States welcomes the decision of president moon to remove the restrictions on missiles to combat the north korean threat and together we reaffirmed our commitment to a campaign of maximum pressure. Like japan, south korea is increasing its defense contributions. During our meetings, president moon acknowledged his desire for equitable costsharing stationed in south korea. I visited soldiers at the brandnew joint American South korean base, paid for almost entirely by the south korean government. At that base i discussed with the United States, the military leaders both military options and readiness to expand and respond to provocations. During our visit, we also discussed americas commitment to reducing our trade deficit with south korea. At my discussion and direction, we are currently renegotiating the disastrous u. S. Career trade agreement signed under the previous administration. It has been a disaster for the United States. Last week 42 south Korean Companies announce their intent to invest in 47 projects worth 17 billion in the United States, and 24 Companies Announce plans to purchase 58 billion in American Goods and services. From south korea, milani and i traveled to china where, as in japan and south korea we were greatly honored by the splendor of our reception. Our trip included the First Official dinner held for a foreign leader in the forbidden cities since the founding of the modern china where we enjoyed a very productive evening hosted by the president and his wonderful wife. During our visit, he pledged to faithfully implement United Nations acute Council Resolutions on north korea and to use his great economic influence over the regime to achieve our common goal of a d nuclear eyes to stream peninsula. Present she recognizes that a Nuclear North Korea is a great threat china and we agreed we would not accept a socalled freeze for freeze agreement like those that have consistently failed in the past. We made it that time is running out and we made it clear and all options remain on the table. I also had a very candid conversation with president xi jinping about the need to reduce our staggering trade deficit with china and for our trading relationship to be conducted on a truly fair and equitable basis. We can no longer tolerate unfair trading practices that steal american jobs wealth and intellectual property. The days of the United States being taken advantage of our over. In china we also announced 250 billion worth and trade investment deals that will create jobs in the United States. From china, i flew to the city to attend the leaders meeting for aipac, asiapacific economic cooperation. There i spoke to a major gathering of Business Leaders where i was reminded that the historic role in the pacific, as a force for freedom and for peace, standing on this proud history, i offered our vision for robust trading relationships in which indo pacific nations can all prosper and grow together. I announced that the United States is ready to make bilateral trade deals with any nation in the region that wants to be our partner in fair and reciprocal trade. We will never again turn a blind eye to trading abuses, to cheating, economic aggression, or anything else from countries that profess a belief in open trade but do not follow the rules or live by its principles themselves. No International Trading organization can function if members are allowed to exploit the openness for others for unfair economic gain. Trade abuses harm the United States and its workers, but no more. We will take every trade action necessary to achieve the fair and reciprocal treatment that the United States has offered to the rest of the world for decades. My message has resonated. The 21 aipac leaders, for the first time ever, recognize the importance of fair and reciprocal trade, recognize the need to address unfair trade practices and acknowledge that the wto is in strong need of reform. These leaders also noted that countries must do a better job of following the rules to which they agree. I also made very clear that the United States will promote a free and open and a pacific in which nations enjoy the independence and respect they deserve. In vietnam, during a state visit in hanoi, i also met with president quan and the Prime Minister to discuss the growing friendship between our countries. Our vietnamese partners are taking new actions to enforce sanctions on north korea. In addition, we committed to expand trade and investment between our countries and we pledge to address the imbalances. I am particularly pleased that the United States and vietnam recently announced 12 billion in commercial agreement which will include 10 billion in u. S. Content. Finally, i visited the philippines where i met with numerous World Leaders at the u. S. And east asia summit. The association of South East Asian nations, we made it clear that no one owns the ocean. Freedom of navigation and overflight are critical to the security and prosperity of all nations. I also met with the Prime Ministers of india, australia and japan to discuss our shared commitment to a free and open and the pacific. During our visit, president dorothea of the philippines thanked the American People and our armed forces for liberation from isis. Wiespledged to strengthen and deepen our longstanding alliance. At the east asia summit, the United States negotiated and signed for important leader statements on the use of chemical weapons, money laundering, poverty alleviation, and countering terrorist propaganda and financing. At both summits and throughout the trip, we asked all nations to support our campaign for northrop korean north korean denuclearization. They are responding. Over the past two weeks, we have made historic strides in reasserting American Leadership and security and reawakening american confidence. Everywhere we went, i reaffirmed our vision for cooperation between proud, independent and sovereign countries, and, i made clear that the United States will be a reliable friend, a strong partner, and a powerful advocate for its own citizens. The momentum from our trip will launch us on our continued effort to accomplish the three core objectives i outlined. Tonight the world against north Korean Nuclear threat, to promote a free and open and oh pacific region, and to advance fair and reciprocal relations with our trading relations and allies in the region. We have established a new framework for trade that will ensure reciprocity through enforcement actions, reform of International Organizations and new fair trade deals that benefit the United States and our partners. We have laid out a pathway toward peace and security in our world where sovereign nations can thrive, flourish and prosper sidebyside. This is our beautiful vision for the future. This is a future where this vision, this dream is only possible if america is strong, proud and free. As long as we are true to ourselves, faithful to our founding and loyal to our citizens, then there is no task to great, new dream to large, no goal beyond our reach. My fellow citizens, america is back and the future has never looked brighter. Thank you, god bless you, and god bless the United States of america. Thank you very much. Thank you all. The president not taking any questions after outlining in very fair detail, every single deal he said he was able to solidify or at least get a nonbinding opportunity, that things have changed, america is on its way to ending years of unfair trade practices which have wreaked havoc on the u. S. Jobs and workers out there through naive thinking and misjudgment. No longer, we want fair and reciprocal trade. With me now is the chairman of the patriotic millionaire. You are listening sidebyside with me. Im not sure, aside from a laminating the massive trade deficit, which is problematic for this country between us and the rest of the world, 800 billion, and must o much of that at the asian nations, did you hear anything new . Nothing i heard was anything different than what hes been saying all along. We want fair trade between countries. He did say its unacceptable to have an 800 billion trade deficit, but in a way, i think a lot of people were expecting him to say on top of these trade deals, guess what, that are. He did mention a new framework that promised enforcement action. He didnt give many details. Im wondering if you tighten enforcement if that would start helping the u. S. Worker. I dont know what hes going to do. Weve always been in favor of fair trade. That means open trade. I dont know what he is planning to enforce. He didnt tell me. You see the dow is down 130. We had been off the earlier lows, and as he began, the market started to go a bit lower. Its not as low as the session low but i think the nasdaq is a little more pronounced. Help me out, did you hear a specific announcement . It was billed as bigger than we had heard. I usually dont like president ial speeches because i think theyre filled, its basically a sales job, but this really was devoid of anything new. I will tell you, the one thing i took away is when he started talking about trade. Trump has toyed with the notion of repealing nafta. I think markets and, you would know from the economy, that would be very bad. The trade deficit is one measure of the economy. People buy our goods, we are a consumer nation, we consume a lot of goods. Generally when we consume a lot of goods we are doing well as a nation. The other thing that strikes me about this, i dont know why theres not more pushback on this network, he starts sucking up these deals with toyota and those, those were done in the past. I was just looking at that. It was announced in august. I just want to say while he didnt take any questions on roy moore, the embattled we have ron johnson, the republican from wisconsin saying he will not vote for the senate gop tax plan. I dont see why any sensible senator would vote for the tax plan . Liz why . Giving more money to rich people which will not help the rest of us. They will not hire more people. They will become richer. When millionaires get a tax break, the middle class is paying. Liz thank you very much. Wellhave you back, Patriotic Millionaires. [closing bell rings] red pretty much for the second straight day. Cisco earnings. News conference coming up. That is doing it for the countdown. Liz, dow ending down 135 points. S p 500 is down 14, half of 1 . Nasdaq down 31, also half of 1 . Markets are now about 1 from the record highs just last week. Thanks for joining us im Lauren Simonetti for melissa francis. David thanks for being here, lauren. Im david asman this is after the bell. More on the big market movers. Here is what we have been covering and are covering for you in the next hour. Profound honor representing u. S. In asia. President trump a