Transcripts For FBC Mornings With Maria Bartiromo 20240713

At 8 30 a. M. Eastern. Major retailer reportedly ready to file for bankruptcy. Commerce secretary wilbur ross will join me in 30minutes time. Markets look like this, fractional gain at the start of trading, dow industrials up 13 points and s p half a point and s p nasdaq up in 22. Dow trails finishing up 377 points, the nasdaq was up 32. Headed for third consecutive week of declines. Controversy is growing in general flynn case. Calling for fbi report that officials claim have vanished. Mornings with maria live. Global markets look higher across the board. Cac quarante is up 34 and dax index in germany up 179. Bank of england governor Andrew Bailey says negative rates are not being considered this following comment of jay powell this week and Germany Economy shrinking 2. 2 in the First Quarter. In asia markets were mixed. More signs of slowdown in china overnight. Retail sales there for the month of april were out, they were down 7 and a half percent. Then there was industrial output showing a slight rise as the country eased up out of lock lockdown. Some of the top stories we are watching this morning. The white house threatening to veto stimulus package that the house plans to vote on today. House Speaker Nancy Pelosi is admitting it is unlikely to pass. We are saying, okay, here is our offer, lets see where you are, sadly, though, leader mcconnell said we have not felt the urgency of acting immediately. He wants us to just pause. He wants us to just pause. Families know that hungry doesnt take a pause. Maria heros act include making certain undocumented immigrants eligible for 1200 payments and funding for vote by mail and sameday registration priorities. The fda is looking into the accuracy of avid labs and whether there could be false negatives. It may only catch cases half of the time. The test is used daily on President Trump and members of his staff. The securitys and Exchange Commission reportedly investigating Public Companies that received loans and regulators asking the companies to prove that they qualify to receive a share of the 660 billion in the payroll protection program. Many Small Businesses went empty handed after hundreds of companies took loans amid the covid19 pandemic and barstools sports founder dave take to go social media in profane rant against current covid19 lockdowns. Whatever is going on . When did this become flatten the curve, flatten the curve to we have to find a cure or everybody is going to die. They are going to go out of business . Maria yes, told fox news Tucker Carlson that took ten years to build the company and rather die from the coronavirus than start over. Tesla ceo elon musk has been critical of lockdowns cheering him on even to run for office. Lets take a look at markets, futures indicating fractional gain at the start of trading. We are waiting april sales this morning, out at 8 00 a. M. Hour. We will also be watching the jobs numbers, of course in the coming weeks and initial jobless claims 3 million americans this week. We spoke about reopening and Economic Growth moving forward. Lets talk about the reopening of america right now. Half of the states have begun this process, is it too soon . I want them to open when they can and when they want. We had the greatest economy, maria n history, you report it every morning. The greatest than anyone had ever seen, best stock market numbers. We have to bring the economy back and you will have third quarter, people are starting to get into that right now but its going to be a transition thats a transition quarter. We will do well in Fourth Quarter and i think next year with all of the stimulus and the things that we have done i think we will have the best economic years that we have ever had. Maria joining me ken mahoney, Dagen Mcdowell, senior fellow mattie duppler. Good morning. Maria what about the president saying its a transitional quarter and hes expecting growth in the third and Fourth Quarters, how do you see it . Kennedy i hope so. The stay at home economy that we are seeing right now is benefiting Companies Like netflix and amazon and will continue for some time and theyll be some people who are early adapters and will get out there right away and others because of their health and because of their aim really sit back and wait for science to prove itself before they get out there and get more aggressive. I think we will still have the have and have nots, do i like the president s optimism, you want the leader to be optimistic of the future and that helps pave the ways for others to follow his lead. Maria Jon Hilsenrath. Jon i want to ask ken a quick question, talk about bringing supply chains back to the u. S. Certainly whats happened over the last few months has raised all kinds of questions about trade relations with china, what are the consequences of companies that have invested so much infrastructure in china if theres a bye america, bring manufacturing back to the u. S. Push and how does that change the stock Market Outlook if at all. Ken i think in a generation from now they will thank us for doing this. The generation or two from now, wow, that was a turning point to bring central manufacturing to the United States. Taiwan plant opening in arizona. We cant be reliant on this. The president said to maria yesterday we get 20 from turkey, 30 from china and you put things together around the world and if one country falls out, you lose supply chain. It doesnt make any sense. I think the president is right. That interview hit it right on, bring back social manufacturing to the country. Whatever it cost, we have to do it. Maria when i spoke to the president maybe theres a tax incentive to get companies to come back, move that gets companies to say lets start the process out of china and go elsewhere. Is there a investment, ken, healthcare was among best performing sectors this week, technology has been near highs as well. Would you buy into this or is there another way to invest around all of this . Ken yeah, first of all, we keep timings short. We go with the leaders which is technology, healthcare, we stay away and so many try to catch airlines, hotel chains and retailers and all the names, i think its going to take some time. The market is on a vshape recovery, we do like a w. Hopefully the president is right, second half of the year, early next year we get the continuation of the w. So, again, i think the best way to play still stay with technology, stay with the leadership. I know its a crowded trade. We heard this over and over again and the valuations so forth, but technology let us before the virus and certainly on the way out of it with more demand because of stayhome economy, i think its the way to go. Individual names, microsoft, our favorite name, the way they run it between gaming and cloud. Microsoft is right there with the stay home economy for now. Maria gaming has to be gaming in this environment thats for sure. Have a great weekend, my friend. We will see you soon. We are Getting Started this morning. Coming up a big show commerce secretary wilbur ross on bringing crucial manufacturing back to the United States, wait till you hear this. At 7 00 a. M. Hour Debbi Dingell on the states reopening and Jeff Sessions is here on the masks and unmasks of general Michael Flynn and jaywalker here on americas race for covid19 vaccine and how china is trying to beat us to the punch and in the 8 00 a. M. Hour Fox News Contributor and South Carolina congressman trey gowdy on whats next on the case of general Michael Flynn. White house trade adviser Peter Navarro on bringing Critical Technology manufacturing back to the United States and the cofounder of home debo joining us on beijings response to the coronavirus pandemic. Dont miss a moment of it. Jampacked 3 hours. Quick break and then what obama intel officials knew and when they knew it the fallout of the unmasking of flynn and the spotlight on john brennan and James Clapper. We will get into it right here. The weather changes. Your tractor can change with it. When its hot. Stay cool. When its cold. Stay warm. When youre hungry. Plant a vegetable garden. When theres a lot to do. Do it all. And do it right. With power. With versatile performance matched attachments. Without breaking a sweat. Comfortable. Ready for anything. The new kubota lx series. Maria welcome back, unmasking and exposing the investigators, Senate Judiciary committee Lindsay Graham announcing investigation into the russia probe. Hes suggested to put former president obama on the stand. Former cia director john brennan and James Clapper breaking silence after being exposed as among those unmasking general flynn, watch. I think our country is in very serious trouble. When you have such blatant political corruption at the highest levels of the u. S. Government, something i never thought i would see in my lifetime. Its a routine thing and appropriate and legitimate when you have a valid foreign intelligence target engaging with a u. S. Person. Maria joining me right now is Washington Examiner chief Political Correspondent and Fox News Contributor byron york, great to have you this morning. Great to have you this morning. Im speechless. That sound bite from john brennan was just rich talking about corruption at the highest levels now that we know that he was among those wanting to unmask general flynn and he was also one of the architects of the effort to take down donald trump as per the president this week. Your reaction. Byron well, we have to know a lot more about this unmasking. Weve got a list of names, some of them were blacked out by the way. Got a list of name of people who had requested to unmask flynn during the transition period. We were told that everybody had the authorization to do so, everything is fine, but we dont know why they were doing it and we need to know that. A lot of the requests to unmask flynn came in middecember, they came before the famous phone call with the russian ambassador. Well, what was that about . I dont think we can take peoples word that everything is okay. We need to know the circumstances of these requests for unmasking. Maria so its more than that, you know, this is just one case general flynn, but we know that carter page was wiretapped unlawfully and informants ran into George Papadopoulos and the president this week told me that he believes john brennan was one of the architects here and we need to know more and we will probably only know until we get john Durham Report, investigation thats under way right now. Does it surprise you that brennans name is all over this . For 3 years hes been telling us that President Trump committed treason and, in fact, looks like the opposite. Byron hes been very outspoken ever since President Trump took office and here is the thing, what was interesting is we had all of the investigations prior to this and nobody has really paid a lot of close attention to the role of john brennan. We had we learned so much from the House Intelligence Committee finding out what the fbi did, finding out about the dossier, use of the dossier, carter page, fisa, all that stuff, it was all useful but didnt tell us what john brennan was doing. Youre right, the durham investigation seems to be the only chance to find out because the horowitz report, the inspector general, very informative could only look at the justice department. So john brennan being a former director of the cia was not part of that, so youre right, the Durham Report is only chance i think we will have to find out what brennan did. Maria well, in fact, Dagen Mcdowell, i had been looking at john brennan and his participation in a couple of years and later we will talk with trey gowdy and play a sound bite what looks like brennan lying to trey gowdy and lying to congress during a testimony. We will play the sound bite for you later. Dagen mcdowell, please jump in. Dagen many people with either direct or indirect knowledge of what was going on you talked about this, think that this entire investigation of the Trump Campaign started initially after after now President Trump announced that he was running for the presidency. It was even before he won the nomination and information from overseas started coming in through well, the cia acting as a Clearing House and that was fed into the fbi. One thing, byron, the other parts of the media who sold the russia collusion fable to the American People and now their attitude is to dismiss anything that basically blows up the story that they were peddling and called partisan politics and blame certain corners of the media. Will we ever get some honest, hardcore reporting from corners of the media world on this even after the Durham Report comes out . Byron well look, they are very invested in what they reported, they won prizes for it and praise for it. I dont think they want to see it undermine by revelations and what was going on. Youre seeing a lot of stories today saying that President Trump is trying to rewrite history. Well, you know, when you learn new things, you do have a different view of what went on and if i could bring up the Michael Flynn case specifically which is taking a really interesting direction. We dont know what that judge is going to do in the Michael Flynn case, but we still dont know after all this, we still dont know specifically what Michael Flynn said in that phone in that conversation with the fbi that got him charged criminally. Maria yeah, all right, byron, we will be watching as you will as well. We will talk with you. Thank you so much, byron york joining us there. Stay with us, we will be right back. Arning, and concentration. Try neuriva for 30 days and see the difference. Safely, and beautifully, is installed quickly, with a lifetime warranty. The beautiful bath youve always wanted, done right, installed by one expert technician all in one day. Book your free virtual or inhome Design Consultation. So were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. Maria welcome back, the u. S. Is changing relationship with china. During my exclusive interview with President Trump i asked the president about tougher rules for Chinese Companies which are currently listed on u. S. Exchange, watch. Will you go one step further and force that Chinese Companies have to following rules if they want to be listed on New York Stock Exchange and nasdaq . We are looking very strongly but its run by the obama appointments, right, we said you have to do this and we will find out whether or not they will do it very soon and if they are not, we will replace them very quickly. And we are looking at your second part of your question, we are looking at that maria joining me right now is roger robinson, the president and ceo of rwr advisory group, washingtonbased research and Risk Management consulting firm. Roger, great to have you this morning, thank you so much for being here. Roger thank you, maria. Maria lets talk about the importance of what the president is doing, thrift fund 500 billiondollar Retirement Fund for military past and present. The idea to put 10 of the money, 50 billion into the msci index which is including Chinese Companies but the president has pulled the money back. Your reaction. Roger well, i think its a seminole development. I mean, a real watershed, for 20 years we basically either had willful neglect of Chinese Companies entering our market or malfeasance look into it and some of these companies as the president learned are bad actors. I mean, these are companies that have engaged in National Security and human rights abuses. Several of them in that index are sanctioned, list or Commerce Department or barred from doing business from the United States because of past offenses. So this is a terribly important step that hes taken and its really correcting a glaring vulnerability of the United States. We have never seen the u. S. China financial front ever be opened. We know all about trade. We know all about technology, but arguably the most important of them all is surprisingly the money. I mean, this is where there are trillions of dollars in play being raised by Chinese Companies in our markets over time and those the companies that are attracting those funds are state controlled and you can imagine the purposes for building aircraft carriers, for building submarine, launch Ballistic Missiles and engaged in companies that are engaged in human rights abuses like those and then concentration camps with surveillance cameras, if you know. Maria its actually extraordinary how this happened in the first place, how its possible that you would want military men and women to invest their Retirement Savings into companies that are Building Products for the Chinese Military who may very well use it against us at some point. I want to zero in on what the president said in the second part of my question and he said, we are looking at that, when i asked him about accounting rules, there are companies that trade on the nasdaq and New York Stock Exchange as we speak, ten cent, alibaba, et cetera, they dont have to find same accounting rules and they dont have to report Quarterly Earnings as the way u. S. Companies do. We dont know how the revenue runs. Do investors understand that when they are buying into the Chinese Companies they are not getting the transparency that theyre getting elsewhere . No, they are getting a black box. Maria, what youre saying is absolutely right. I mean, Chinese Companies are not subject to pca, they simply refuse. This is doddfrank as you know, they dont disclose corporate financials. Those are considered state secrets. The list goes on. You cant theyre not abiding by federal securitys law that is apply to every american company. I mean, this is the case believe it or not maria roger, i have to get this question before you go, roger, because i understand everything that youre saying and ive been certainly raising Peoples Awareness of this for over a year and my issue is as the relationship between u. S. And china continues to show, you know, a rocky situation and that we are seeing different interests here, do you worry that the Chinese Communist country will start selling our debt, they are among the leading holders of the u. S. securities and debt. If they selling our debt that will create major disruption in our markets, what do you expect, roger, real quick . Roger i dont think we have to worry about it, you see the billions moving today. It would have some modest impact on our Interest Rates but nowhere near the leverage that those are with. So im not worried about that. They take a bath on that and in terms of the Capital Markets more broadly of the United States, i mean, we have the deepest and most voluminous markets in the world. I mean, the idea that the chinese can go elsewhere to all their markets and the event that we decide to enforce federal securitys laws and sec regulations some of them not giving the president the full story there, they are, in fact, is no easy elsewhere. My goodness, we have 60 of the worlds liquidity. We utterly dominate the financial domain on the planet. This is not one of the lights will go off to a full elsewhere, so this too is the case. We have immense leverage here, maria, and we havent used a fingernail of it and the chinese are finally, this is going to be, the end of a Free Lunch Program for them. This has been going on for over 20 years. Maria wow, roger, really important points that you make this morning. Thank you so much, sir, good to see you this morning. Roger robinson joining us there on china in the u. S. Markets. Commerce secretary wilbur ross is joining me next. We will talk about china as well. Stay with us. Maria welcome back, good friday morning, everybody, tgif. Friday may 15th, top stories, 6 34 a. M. On the east coast. Today another look at the impact this virus is having on the u. S. Economy when we get the april retail Sales Numbers released at 8 30 a. M. Eastern. In just moments from now commerce secretary wilbur ross will be joining me on getting america back to work and the push to bring supplies chains from china to america. We are at the lows of the morning, dow future down 62 points and nasdaq lower by 6 and a quarter after dramatic swing in wall street yesterday led markets to finish in the green. A lot of volatility when all said and done dow industrials up 377 points, nasdaq up 80 and s p closing up 31 points at 4 00 oclock on wall street yesterday and despite the rally, dow, nasdaq and s p 500 are headed toward a Third Straight week of declines. Global markets this morning showing similar move in europe this morning the indices are mostly higher, the ftse 100 up 45 points and cac in paris up 19. Bank of england governor Andrew Bailey says negative rates are not being considered following similar comments this week from jay powell. In asia markets were mixed, more signs of slowdown in china overnight. Retail sales for the month of april down 7 and a half percent. Fixed Asset Investment down 3. 10 . Slight rise as the country did ease up on lockdowns in china. Covid19 pandemic is forcing lay offs and furloughs. Cheryl casone with those details, cheryl, good morning to you. Charlie Carnival Corporation says layoff along with salary cuts with Save Companies hundreds of millions of dollars a year. More than 800 workers will be let go in florida. Subsidiary will furlough or reduce hours for at least 2,000 workers. Cruise lines stopped sailing march 13th, they will resume bookings and cruises in august, we should add here. Well, the commissioner of Major League Baseball believes that players will return to the field this season. I have great confidence that we will reach an agreement with the players association, hope that its safe to come back for work and work out the Economic Issues that need to be resolved. Cheryl team owners have agreed to shortened season beginning in july, however, the Players Union is now asking the league for financial document because the proposal affects players pay. And here is a look at whats trending this morning on foxbusiness. Com. Former uaw president on embezzle ment charges. Finally, arods quarantine reading list is full of Business Books and one of the books, maria, is about jeff bezos. Hes got some time. Hes got a lot of money and wants to invest it. There you go. Back to you. Maria there you go. Cheryl, thank you. All right, bringing manufacturing back to the United States, the Taiwan Semiconductor Manufacturing Company, one of apples microchip partners is opening plant in arizona. According to Semiconductor Plant in 2024, will produce 20,000 chips per month and employ 1600 people. During my interview with President Trump we discussed the importance of Companies Like apple, for example, having production in the United States. Apple said now they will go to india. Some production in india. If they do, we gave apple a little bit of a break because they are competing with a company that was part of a trade deal that we have made and it was unfair to apple but we are not allowing this anymore. You know, if we wanted to put up our own border like other countries do to us, apple would build 100 of their product in the United States. Thats the way it would work. Maria joining me right now a fox business exclusive is commerce secretary wilbur ross, mr. Secretary, good to see you, thank you so much if being here. Good to see you, maria. Maria lets talk about the change in relationship with china and this move to get to get supply chains here. What are you going to need to do to get companies to move supply chains out of china so the country is not so reliant on foreigners to make the very important things like we need like prescription drugs . Well, remember, the semiconductor was invented in the United States, but since 1987, tsmc, Taiwan Semiconductor Manufacturing Company, has been the leader in it and right now they are at the cutting edge of technology. The way you Measure Technology in semiconductors is by how many nano meters and size the chip is. Commodity semiconductors are up around the 11 nano meters and it had been around 7nano meters. It would be 5nano meters and it would make it cutting edge and thats what makes it so significant. The smaller the number of nano meters the more powerful the chip can be so this would be a blockbuster of a chip. Maria how did you get them to do this in arizona, really what im asking, are you going to need to come up with a tax incentive to get companies to understood do, unravel what theyve got, the infrastructure theyve got perhaps in china and move it to the United States, whats the incentive to do this . Im wondering how realistic it is to move the supply chains. Well, tsmc thinks its realistic enough to make the announcement. Maria was there an incentive to get them to do that . Surely, the state as normally would as providing some relief, some of the impediments that otherwise might have prevented them from doing so, but the most important thing about the tmc is two things, one is that they hope to bring their supply chain with them. There are about 80 key suppliers to tsmc and we are very maria thats very important, yes. Because then we will have a vertical integration and arizona since it already has intel, already has on semiconductor will now have a very powerful Technology Complex that we hope will be very vertically integrated and that should facilitate even more activity. We are building a real semiconductor echo tech. Maria thats terrific, and to see it in arizona is also really interesting. I want to get to the breaking news this morning. Secretary of the Commerce Department is nounsing that it will amend its foreign direct product rule and the entity list to target hauwei and hauweis acquisition and earlier this morning the department is extending license authorization of Hauwei Technology for another 90 days and youre also warning for those benefiting should prepare for license to expire in august. Walk us through this and how would this protect American Technology and jobs and give us the sense of the issues around hauwei, secretary . Sure, that has been a very highly technically loophole through which hauwei has been able, in effect, able to use technology with producers. Foreign direct product is a highly tailored thing to try to correct the loophole and make sure that the american foundries are competing on equal footing with the foreign ones. Thats quite separate from the tsmc development we just talked about. And we believe that will have a maria yeah. That will have a very powerful impact because we never intended that loophole to be there. The other one about the extension and the 90 days, we have made extensions mainly to make sure that the rural telecoms have plenty of time in order to wean themselves from the hauwei equipment. Youre aware of the fcc has come out against use of hauwei and specifically banning use of federal funds to put hauwei equipment into the rural telecom, but they also needed for maintenance and for upgrade, so we are very pleased that congress has appropriated 1 billion to help the rural telecoms to wean themselves and yet we are giving them another extension, we want them to make clear to us during extension in midaugust what they are doing to wean themselves from hauwei, so 3 unrelated developments that just happened to come out in the same day. Maria well, this is a really Important Development and secretary pompeo has told me that hauwei access an arm of the Chinese Communist government in terms of surveillance because there are back doors in hauwei equipment you data goes right back to the communist government, so people are wondering if Companies Understand the threat. Sounds like you are communicating that. Secretary, good to see you this morning. Thank you so much, sir. Well, thank you, maria, good to be on with you. Maria and to you. Secretary wilbur ross joining us stay with us, we will be right back. Confident to and through retirement. Some because ourstop. Communities need you. Which is why were working to keep you working. And ready to dig in. To help you keep your properties and towns maintained. Your farm running. And construction moving. Your work is essential. Kubotas 1,100 dealers are behind you. Together we will get through this. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. Maria welcome back, nascar is back, one of the first major sportsmaking return amid the coronavirus this weekend. You can catch all of the action on fox this sunday. Nascar is honoring frontline workers during this race. Joining me right now is one of the workers being honored, intensive care unit nurse michelle vaughn, michelle, thank you so much for joining us and thank you so much for the hard work during the pandemic. We are all grateful to you and colleagues throughout the country. How do you feel about this honor . Thank you so much for having me. I am, you know, you said it its an honor. Im so humbled by the attention this is getting and, you know, all of the things that are happening just because we decided to try to help our patients a little bit more and im just so pleased and honored to be part of all of this, thank you so much for having me. Maria well, its us thanking you. Michelle, you helped create a special program at your hospital, its called be there bears, tell us about it. We have these little bears that if you can see it in the sun here, we have little recordings that we put in the back of the bear and what we do is we call the patients family members, so most of the patients up here in the icu are pretty sick and they have they are intubated, sedated and unable to talk and unable to call their family members like some of the patients in other floors so now, you know, we were really kind of touched by that. It was really awful once we start today realize that that was what was happening, that we couldnt have the families by the bedside any longer due to covid19 and so what i started to think back and what we could do to help and thats how the bears were kind of developed. Maria yeah, what a great idea. Dagen mcdowell. Dagen michelle, are you a nascar fan . Are you been to races before because i can get you to a race . I will gladly if you want to go, i will pick a track, weve got some more races that are going to be coming up so when we are on the other side of this, i will grad i will go to a race with you. Oh, my gosh, thats so amazing, thank you, i would love to be part of that. Just being hart of this, wow, i cannot believe that hes highlighting me and my team here. I think that we are the best team in all of virginia at least. Dagen michelle, i grew up in virginia not part from denny, outs of lynchburg. Dagen we will make it happen. Maria thats a date, michelle. Thats a definite date. We thank you so much, michelle vaughn, dont forget to tune into fox for big return of nascar live, race coverage begins at 3 30 p. M. Eastern on fox news, dont miss it on fox live. We will be right back. Can my side be firm . And my side super soft . Yes. With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So, you can really promise better sleep . Not promise. Prove. And now, save 1000 on the sleep number 360 special Edition Smart bed, now only 1,799. Plus, free premium delivery setup when you add an Adjustable Base ends monday. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Maria welcome back time for morning buzz, first up restaurants in several states are now charging a covid19 tax, yes, owners say that the new fee is helping make up for rising food and operating expenses. So far customers and plenty of people on social media having a mixed reaction here, Jon Hilsenrath, your thoughts . Jon yeah, this isnt a tax, this is companies trying to fix the profit margin. I understand that people are frustrated by it but lets not forget theres a Global Pandemic and frankly spare me the twitter outrage. We have the Restaurant Industry thats collapsing and try to have patience with it. Maria all right, thats good. Call it a sign of mask unity. A new study is suggesting that men are less likely to wear face masks than women. They apparently view it as a sign of weakness according to London University researchers. More men also believe they will not be infected. Mattie, whats your take . Mattie heard to be surprised about the report and you know whats not cool to get the Infectious Disease that you could have protected yourself from. Its not cool to contribute to that economic downturn to those households. Wear a mask. Its the at least you can do as we continue to reopen the economy. Maria good point. All right, finally, this one, move over bikini its the trikini, stepping in to claim its spot on the beach. Italian designer created a new look for summer, bikini with matching face mask, you cant get one right here right now. Dagen im not wearing a bikini and if i happen to go in the beach im wearing sweatshirt and pants. You know what is dumb people getting in your face and they are this close to you, doctors say its better to just stay 6 feet plus away from folks. Thats safer than Walking Around with a mask on up in somebodys grill. Maria all right, no bikini and no mask for you on the beach. Stay with us. We have a lot more. Mornings with maria, stay with us across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage Payment Relief efforts and donating 175 Million Dollars to help hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. Is friday, may 15th. Your sto top stories right now. The battle over additional stimulus is waging on, the house is set to vote on a 3 trillion relief package today. It is not expected to make it through the senate and the white house threatened to veto the plan. Getting america back to work, the cdc is issuing guidelines to reopening schools, mass transit and business this morning, as more areas of the country ease up lockdown orders an pressure is building to move supply chains from china to america. A look at the impact the virus is having on the u. S. Economy when we get april retail Sales Numbers, will be released 8 30 a. M. Eastern as another retailer is reportedly ready to file for chapter 11. Futures indicating a lower opening this morning, we are at the lows of the morning. Look what has taken place in the last 30 minutes, dow down 167, nasdaq lower by 46. This after a dramatic swing yesterday which led the markets to finish in the green by the way. Youve got the dow industrials up 377 points at 4 00 on wall street yesterday, the nasdaq up 80 and s p up 32. Despite yesterdays rally, the dow, nasdaq and s p are still going to clock in a third consecutive week of declines. And you heard it here from commerce secretary wilbur ross, you heard it first, the u. S. Is putting more pressure on huawei, taking actions to block shipments of semiconductors to the Chinese Technology giant from global chip makers. Controversy in the Michael Flynn case, President Trump is calling for an fbi report, hes calling that report that apparently has vanished, former attorney general Jeff Sessions will join me to talk about that and this evolving story with china. Mornings with maria is live right now. Global markets this morning look higher, european indices are higher across the board, fq100 up 35, cac is up 3 points and dax is up 114 points right now. Bank of england governor Andrew Bailey says negative Interest Rates are not being considered, this follows similar comments from jay powell this week and germany meanwhile has plunged into a recession. The economy reporting a contraction of 2. 2 in the First Quarter. In asia overnight markets were mixed. Take a look at the numbers, more signs of slowdown in china overnight, retail sales for the month of april were down 7 andahalf percent in china and fixed Asset Investments fell by 10. 3 . Industrial output did show a slight rise as the country eased up on lockdowns. Joining the conversation is Dagen Mcdowell, mattie duffler and Jon Hilsenrath. Dagen great to see. Maria thousands of americ ames are going back to work today. As the cdc releases new guidelines on reopening the country. They come in the form of brief checklists with separate documents to help schools, child care programs, mass transit systems, bars and restaurants to try to reopen safely. The cdc is issuing a nationwide alert about a rare and deadly disease in children linked to covid19 p. It is called multisystem inflammatory syndrome. Symptoms include abdominal pain, swollen hands and feet and rash and a high fever for at least 24 hours. At least 150 kids were diagnosed with this rare condition in 18 states right now. Most of them are in new york where three kids have died. Congressional republicans taking heat from chinas state run media over the coronavirus pandemic. The global times criticized senators josh holey and tom cotton for speaking out against china for its role in the spread of covid19. The article says the lawmakers along with two other republican members of congress will face sanctions from china. This of course is state run media, coming from the Chinese Communist government. Eric schmidt who is suing china over the toll the coronavirus has taken on his state could be hit with the punitive Counter Measures from china. One major airport trying to make it safer for people who fly. Mccarren international in las vegas has vending machines that sells face masks, gloves and sanitizing wipes. A mask costs 14 and four pack of glove costs 4. All the Major Airlines in america are requiring travelers to wear masks or face coverings in an effort to stop the spread of coronavirus. The white house issuing a veto threat on the latest round of coronavirus stimulus. Lawmakers will vote on the 3 trillion heros act today pushed by house democrats. It includes more funding for hospitals, leniency on rent and mortgages but nothing to replenish the paycheck protection program. Joining me right now is debbie dingell. Always a pleasure to see you. Thank you so much for joining us. Good morning, marie y always good to be with you. Maria i want to talk about the lockdown going on. But first lets get into the 3 trillion plan from nancy pelosi. Theres an op ed in the journal which you probably saw, says pelosis president ial platform. Basically saying that a lot of the things in this bill is basically her agenda for 2021. Would you vote this bill, at 3 trillion . I will be voting for it today. Do i agree with everything in it . No. I have some issues. But it is laying down a marker, it helps our state and local governments which are decimated and defends the ones on the ground really fighting the coronavirus, the covid. And its had significant impacts. We have a number of other things, its going to bring direct help to people that need it right now. One of the things we have to do is to keep hope for american as we are coming back slowly, were going to talk about reopening in a minute, but it gets help to hospitals, it expands cobra, sets up standards. Its got a number of things that are very important and is it perfect . No. By the way, well end up with discussions with the senate and im sure the white house but this is a statement of values today and i will be voting for it. Maria well, a number of republicans are saying that there are wasteful, unrelated Spending Plans in here. Youre talking about illegal immigration incentives, relaxed voter id requirements, Early Release of federal prisoners, money for the marijuana business. How is any of this related to covid19, congresswoman . So each of those, you can have different words describing them. You could talk about how we have immigrants living in this country in many of the farmers, et cetera, as were talking about whats happening in the Agricultural Industry need them and we want them to not be going to work or not spreading community spread, if they have covid. So we need to give them help. Look, marijuana is something that many people with cancer need. Its become a medicinal medicine for many people and people need to have access to it. Maria it has nothing to do with covid. Again, it has nothing to do with covid. Nor does the illegal immigration incentive and nor do the relaxed voter how about the relaxed voter id, vote by mail. That sounds safe. Its not thats about ensuring that during covid we dont see what happened in wisconsin and ohio, that were encouraging everybody to participate in our democracy when it comes time to vote and people not not go to the polls because theyre worried about the spread of covid. Its strengthening democracy, not weakening democracy. Maria i thought what the president said this week, he says its going to be do you believe everything the president says . Im trying very hard, maria, right now not to be partisan because the virus is still out there, still very real and something we all need to be fighting together and while were beginning to see mitigation in a significant number of states, i lost a person sunday, monday, tuesday, wednesday. People are still dying. I dont want to be partisan. Maria i know that. I know that. I cant tell you that everything i hear maria so do you want to hold china accountable for all those people dying . I think that we need a far better understanding of what how it happened, how it spread, what they told us, why they lied to us, why they didnt let us in or let our scientists in. I think that china has no right to threaten senators, whether republicans or democrats. I find that a matter of National Security and will defend those senators and the right of say what theyre saying. So i am not a very i think china needs to be very careful right now. And not threaten. Maria youre right, the global times the global times is an arm of the Chinese Communist government and the times article claims that senators josh holly, senators tom cotton along with other republican members of congress, you know them, youre friends, they will be added to chinas sanctions list for their hard line political starcheses. Thats exactly stances. Thats exactly what china is doing. Theyre threatening our lawmakers. If its not them, it could be you. Its unacceptable. So im just going to say that right now. Thats not how you conduct diplomateic relations between countries. You dont threaten sitting senators. [ laughter ] maria diplomatic relations. You also dont by accident release a virus that kills hundreds of thousands of people and then you downplay it and then you corner the market for ppe. Jon hilsenrath, jump in here. Jon i want to ask the congresswoman about the state and local government situation. Thats a big part of this debate. Set the groundwork for us about whats happening in michigan right now. Whats at stake in your home state in terms of state and local budgets and whats going to happen if there isnt relief. Well, theyve been absolutely decimated. What you need to remember is that the first responders, the police, the fire, that structure of a Civil Society is structured and funded at the very local level. So as were looking already, our kids have not been in school, our education budgets are being significantly cut and endangered and not only are we going to not have enough money for our School System as it was, but now were going to have education under covid which is going to have additional costs. Thats just one area. Our fire and police need to be first responders, the emss need to be stronger and ive got cities whose budgets were absolutely cut in half. I spent the whole weekend working with different cities in wayne county, some in my district and some not, that were trying to figure out why they got certain amounts of money, others didnt and what their needs are and what theyre going to do. Jon this argument that maria really important point. Jon not taking care of their pensions adequately maria thank you so much. Jon, you were going in and out. Whats the question . Jon jon i wanted to ask about the argument that the states havent been taking care of their own pensions, theyve been irresponsible with their pensions. Maria what about that . Im tired of all these pension discussions and people attacking retirees. People have worked hard all of their life. Most of these Pension Plans have not been mismanaged. People have put into their pension. You know, state and local governments, the state employees actually gave up going to the private sector, made less money, counting on having those pensions when they retired. They paid in. They trusted these systems and nobodys tried to do fraud. There are some im not saying that every pension plan in the country is perfect. But i sat on that pension committee. I listened to the experts on both sides, republicans, democrat, independent economists. It wasnt a matter of mism. Mismanagement. Its a matter of a number of factors. Are we going to tell people that worked a lifetime, counting on having that money not there. Ive had grown men come to my front door in tears. Ive had men threaten to kill themselves. A man came in, said i have nothing to live for. We have a responsibility to figure the Pension System out and take care of our seniors. I deal with this almost every day right now. These are human beings that played by the rules. Maria yeah. You make a lot of good points, congresswoman. Good to see you this morning. Thank you so much. Debbie dingell. Stay with us, everybody. We will be right back. Americas oldest lighthouse has weathered many storms. Seeing the break in the clouds before anyone else. Together, well weather this storm. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Maria welcome back. Well, the countdown is on. Tomorrow will mark 100 days until the 2020 Republican National convention ahead of the election. The rnc moving full steam ahead with plans to hold the convention in charlotte, despite the coronavirus pandemic. Officials bringing on a veteran Public Health expert who they say will oversee plans to ensure the safety of thousands of attendees. Joining us now is the president and ceo of the 2020 Republican National convention, marc marshe kelly. The convention is expected to bring in 50,000 people to charlotte. How can you ensure those peoples safety. Well, i think what were doing right now is we took first one of the first steps with the hiring of dr. Rungey and while this is very unprecedented where we have the pandemic, we are going to make sure that we follow all the cdc guidelines, both the federal, state and local authorities, to make sure that the safety of all of our Convention Attendees and the media and also all the people who are attending are going to be safe. Maria well, the democratic National Convention is allowing virtual voting. Of icials are discussing officials are discussing the possibility of a total virtual convention. Is there any of that conversation going on that the rnc could go virtual as well . We are our plans right now is to go full steam ahead. We are going to have a nomination with a president , takes place on thursday, where he accepts the nomination for the republican party. Maria i see. Mattie . Mattie marsha, 100 days is a long time as weve seen in quarantine these days tend to go by quite slowly so a lot could change between now and when the convention is actually held. Theres a lot of chatter about whether or not the Coronavirus Crisis benefits the president or not because of the economic downturn. I think this is going to be a great opportunity for leadership to demonstrate the difference between what democrats are proposing and what the president is proposing. As you head into charlotte how are you prepareing to highlight the president s economic message particularly as you bring so many people into charlotte, north carolina. I think youre going to see exciting things that really highlight the American Economy and really i want to talk a little about charlotte. The Republican National convention is going to be a very big upturn for many of the charlotte Economic Companies out here and the businesses and so why thats important is because its going to be very symbolic of our economy, of our nation recovering, and i think no ones done a better job than President Donald Trump and i feel very confident that with his reelection that the country will be better off than it was before. Maria marsha, thank you so much. Well be watching these next 100 days to see what changes, marsha lee kelly, as you prepare for the rnc convention. Coming up, lockdown lifted, Wisconsins Supreme Court ruling on stay at home orders, showing other states what reopening bars could look like. Were going to get into it when we come back. When its hot. Stay cool. When its cold. Stay warm. When theres a lot to do. Do it all. And do it right. Without breaking a sweat. With the comfortable, versatile new kubota lx series. So were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. Maria welcome back. Happy hour in wisconsin, local bars flooded with customers as the states Supreme Court overturns democratic Governor Tony Evers stay at home order. City order fanses remain in ordinances remain in effect. Those looking for a drink in milwaukee are out of luck. Mattie, you are from wisconsin, what do you think. Mattie i think its an interesting split screen whats happening across the country right now. Yesterday you saw in the wall street journal the president of the New York Stock Exchange articulate protocols for reopening, Safety Measures that will be put in place. The governor in wisconsin said we either open or we stay closed. The order has been overturned. Localities, its up to them to create rules and regulations so businesses can reopen. I really think what we need is leadership, telling the American People that we are going to be open for business but how we can do so in a safe and effective manner. I mean, it cant just be a free for all, right. We know that times have to change a little bit so that we can protect the Public Health but that doesnt mean that we need to stay closed down in persoperpetuity. In wisconsin you have Small Businesses that power the economy. Its critical they have clarity on what the rules and regulations need to be so they can do so safely so we can get people back to work. Maria you mentioned the op ed from the head of the New York Stock Exchange, nyc president Stacy Cunningham writing an op ed announcing the Trading Floor will open on may 26th. In that journal op ed she says our reopening will bring a new normal for the New York Stock Exchange, hopefully helping chart a path that other businesses and densely Populated Areas might follow, so even with these new Safety Measures in place is the New York Stock Exchange ready for traders, thats the question. Maybe people wont want to come back. Dagen mcdowell, jump in. Dagen a lot of this falls on businesses. It is pretty clear what it would take to get to avoid having people crowd into a space and make sure that both the customers and the employees are safe. Looking at just what all the supermarkets that have been open and all the drugstores that have been open and thats where the kind of ire and upset comes from, from smaller business operations. Somebody who runs a dog grooming business like in new york city, why cant he be open . He doesnt even really come in contact with humans for the most part. Vets are open. Why not dog grooming businesses. You can get a waiver. I know people i know a place, a barber who will cut your hair in new york. I know a dog groomer who will clip your pup. I know a Restaurant Owner who will let you sit in the bar and have some drinks while youre, quote, waiting for your food. People are not going to tolerate this because, again, it ultimately comes down to free will and individuals taking responsibility for themselves, their loved ones and their families. And you look at texas, where texas has certain orders in place and you have like the peoples republic of austin and dallas and san antone trying to oneup the governor. They cant do that. Theyve been told you cant order people to wear masks. Weve suggested folks where masks when theyre out in public but some of the left wing cities want to one up the leadership in the state. Thats part of the problem. Its become a political power grab for so many people. Maria yeah. Yeah. And this is the conversation taking place across the country, Jon Hilsenrath, like that dave portnoy video which went viral from bar stool sports. Jon well, i mean, the one thing id say, just to throw it back to dagen a little bit, is, you know, cities are in different situations than a lot of other places because people are concentrated in these places and the virus preys on places where people are concentrated. So you know, a lot of people are saying, well, you know, we have to let state, have to let local authorities make their own decisions and some place as weve seen tragically, in new york, theres a bigger threat and the tradeoffs are even steeper. Dagen but new york but the orders in new york, for example, are coming from the governor and what was most tragic, which the wall street journal has on the front page this morning, are the deaths in the Nursing Homes, the deaths in new york and in pennsylvania, well over half of the covid19 deaths in pennsylvania happened in Nursing Homes and retirement facilities. Maria yep. Dagen and thats on the governor, quite frankly, and his Health Director who ordered these Nursing Homes to take elderly people back in and initially would not allow them to test patients who were coming back after being in the hospital with covid19. Again, how much do you trust a bureaucrat who basically has blood on his or her hands . Thats the issue. So you know, youre still ordering the people of new york around, do we trust your guidance. Worth asking. Maria yep. Quick break and then coming up next, who knew what and when. Former attorney general under President Trump, Jeff Sessions is here weighing in on the unmasking of the unmask of general Michael Flynn. Stay with us. Baby come back. Any kind of fool could see. There was something in everything about you. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is friday, may 15th. Your top stories right now, 7 3. Today we get another look at the impact the virus is having on the United States economy when we get the april retail Sales Numbers released in about an hour from now. Ahead of the numbers, futures are pointing to a decline at the start of trading, at the lows of the morning with the dow futures down 172 points, nasdaq futures lower by 68, s p futures down 20 points. This after a dramatic swing yesterday on wall street led markets to finish in the green, pretty strongly as well. The dow industrials yesterday was up 377 points at 4 00 on wall street. The nasdaq was up 80 points and the s p was up 32. Despite that rally, the dow, nasdaq and s p 500 are headed toward a Third Straight week of losses. Global markets this morning are higher, meanwhile. European indices higher across the board. The bank of england governor Andrew Bailey says negative Interest Rates are not being considered. The fq100 is up 36, cac is up 7 and dax is up 100 points right now. Lets check asian markets, more sign offs a slowdown in china overnight. We had retail Sales Numbers out for the month of april in china, they were down 7 andahalf percent, industrial output showed a slight increase as the country did ease up on lockdowns in china. Now this, new developments in the Insider Trading investigation on capitol hill. Cheryl casone with those details. Cheryl. Cheryl thats right, maria. Senator Kelly Loeffler turned over documents related to stock sales. Spokeswoman says the senator and her husband did nothing wrong. Senator dianne fine steyn has given information to the fbi, adding she was not involved in her husbands stock trades. And then senator richard burr, chairman of the senate Intelligence Committee has stepped down as chairman of the committee after the fbi seized his cell phone for possible evidence of stock sales made before the covid19 outbreak triggered a plunge in the stock market. Well, joe biden is trailing President Trump in 15 battleground states ahead of the november election. A new cnn poll shows 52 of voters in those states prefer the president , compared to 45 for biden. However, the same poll shows biden leading trump among nationwide voters by 5 points. And finally, heres a look at whats trending on foxbusiness. Com. Could jeff bezos become a trillion are . Ikea Parent Company planning to expand with new malls in the uniteUnited States. Lebron james and steph curry wont face coronavirus pay cuts today. Theyll be affected some time in the coming months. But for now their multi Million Dollar salaries are safe, back to you. Maria thank you. We are looking at the unmasking and the exposing the investigators in the russia probe. Senate Judiciary Committee chairman Lindsey Graham yesterday announced he will bring witnesses down in the investigation into the russia probe tied to the case of general Michael Flynn. However, he rejected President Trumps suggestion to put former president barack obama on the stand. The president tweeted that out yesterday but senator graham claims it would be nothing more than, quote, good tv. During my exclusive sitdown with the president this week i asked him about the efforts to unmask general. The names of the people who unmasked general flynn have been publicized, joe biden, john brennan, jim comey. Your reaction . It was the greatest political crime in the history of our country. If i were a democrat instead of a republican, i think everybody would have been in jail a long time ago. And im talking with 50 year sentences. General flynn and others are heros. Heros. Because whats happened to them they werent after general flynn. They wanted him to lie about me, make up a story. Maria joining me right now is former u. S. Attorney general and former alabama senator, Jeff Sessions. And it is great to see you, sir. Thanks very much for joining me, senator. Let me ask you this. Thank you. Maria weve spoken a lot about this situation and now we have real evidence that there was abuse in front of the fisa court. There was a setup around general flynn. They wanted him to lie. They ambushed him at the white house. You recused yourself early in the president S Administration in 2017. Jeff, do you have regrets . When you look back, what could or should you have done differently . Maria, it would have been illegal for me to supervise the investigation of a campaign that i played a part in and a role in and actually had a title in. That is plainly in the law, in the regulation of the department of justice and so i could not do that. And it would not have worked. There would have been no support anywhere in the country for an attorney general violating the laws of the United States. It just would not have worked. I did the right thing. It did not mean it would not be supervised. It was going to be supervised by the Deputy Attorney general, who was appointed by President Trump also. So i think that thats the most important thing we should say here. I do agree with you, that more and more evidence is coming out of a real abuse. One of the most important things we learned out of watergate, one of the laws was a recusal law but you are not to use the powers of the intelligence capability, the investigative capability of the United States against your political opponents. That is fundamental. So when you have joe biden having these intercepts a few days before he left office, he had no basis and need for that, from a National Security perspective, whatsoever. Maria and i know thats why you wrote the open letter. You wrote an open letter to the people of alabama on your recusal from the Mueller Investigation while you were attorney general and you write this, the president disagreed with me on recusal but i did what the law required me to do. I was a central figure in the campaign and also a subject of and witness in the investigation and could obviously not legally be involved in investigating myself. If i had ignored and broken the law the democrats would have used that severely to damage the president. So when you look at everything that has transpired since then, and we do see that, for example, leaking classified information is a 1 10 year felony, thats wt trey gowdy said, hes going to come up in the program in 30 minutes or so, lying to congress is a felony and a lot of these things have been done. Do you think were going to see jail time . I tell you, you have to prove those charges in a court and be able to prove those in a court but, yes, if that happened and it looks like it might have, those people need to go to jail. They need to be pro prosecuted. Theres certain things that are improper, certain things that are illegal. One thing to ask for an unmasking, its another thing to leak it to the media. Thats an absolute crime and it should be pro prosecuted vigoro. Maria unbelievable. I want to switch gears and ask you about another issue which you have also been outward on, that is china. This morning we had breaking news, we had secretary wilbur ross on the program to announce that the u. S. Has moved to cut huawei off from global chip suppliers, the administration blocking shipments of semiconductors to Huawei Technologies from global chip makers, this is an action certainly flaring up relations and continues to flare up relations with the u. S. And china. That is why i assume the market is lower today, down another 200 points. Then we get the global times story this morning that is making a veiled threat to lawmakers, jeff. What do you think about this . Theyre citing analysts who promise china will not just strike back symbolically but they will impose Counter Measures that will make them feel the pain. U. S. Lawmakers are to feel the pain. Theyre talking about senator tom cotton, theyre talking about josh holly. Your reaction to china trying to hit back at u. S. Lawmakers for raising the red flags against china . Well, im in the senate. Theyre going to go after me too. Because we have got to reset our relationship, maria. You did a Great Program on this the other night. Weve got to reset the relationship are with china. They cannot dictate to us what we do. They cannot continue to make monumental profits off selling into our markets while they dont let us sell into there, while theyre using the profit to build a magnificent military. So these are the kind of things that weve got to sustain over a period of years. We need and have to have, like we did against the soviet union, a fundamentally bipartisan relationship to gradually and sustainably, over a period of years, to reduce this china abuse. Weve got to stand up for our interests. Weve got to stand up for american interests first. We can do that. But were going to have to sustain these kind of attacks from china. Theyve been used to getting away with it. Nobody has challenged them. Theyve always fought back and people have backed down. President trump is not going to back down. The congress has got to back him up and if we do this, we can reset this relationship and protect the security of this country. And i totally object to and support the president s belief that huawei cannot run our high speed internet, our 5g worldwide. Our allies do not need to be participating and allowing a Chinese Communist based Computer System supplying the technology that allows them to penetrate all our systems. Maria yeah. Exactly. Its great to see you, sir. Thanks very much, Jeff Sessions. We will see you soon. Well be watching. We will be right back. Stay with us. To everyone navigating these uncertain times. Whether youre caring for your family at home or those at work, principal is by your side. Were working hard to answer your questions. Like helping you understand what the recently passed economic package can mean for you. Were more than a financial company. Were a together we can get through anything company. Now, more than ever. Maria welcome back. The race for a vaccine is on, during my exclusive interview this week with President Trump he told me the department of defense will make sure a vaccine will reach the American People by the end of the year. Watch this. And you are just doing something with syringe as well so you can have plentiful, you have enough vaccines. We will have tremendous force. Assuming we get it, then you have to distribute it. And unless youre mobileized and ready youre not going to be able to do it for a long time so were starting now. Were of the assumption by the end of the year were going to have a vaccine and then we have to be able to give it, to use it on most of the population. Maria well, we have also been reporting about chinas efforts to get a vaccine and Dagen Mcdowell, one thing that has occurred which senator tom cotton broke that news on sunday morning futures a couple of weeks ago is that chinese the Chinese Communist government has sent engineers into our labs, our science labs and they are stealing intellectual property when it comes to medical data to try to beat us to a vaccine for covid19. Dagen that should be something that should be should be stopped immediately, obviously, but it raises the question of why is that happening in the first place. Like how can our medical facilities allow this to go on. Big question. But i think more and more people, like on the ground who want to get back to work, who want to at least begin resuming their regular lives, their everyday lives, dont think that we can wait until a vaccine shows up to really begin to live again and open the economy. Maybe for large, large gatherings, sporting events, rock concerts, but people are i hate to say this regular folks arent going to wait for that. Theyre not going to wait another year. Maria yeah, thats a good point. And my next guests company is abajak, just given the job to produce 100 million free im sorry, prefilled syringes by the end of the year. Joining me now is the ceo, he is jay walker. Jay, it is great to see you this morning. Thanks very much for joining us. Congratulations to your company on getting this Major Contract to produce these syringes. I want to get to that in a moment. Jay. Whats your view on a vaccine by yearend . Is that realistic . You know, maria, thats the deadline and thats what the president has said were going to have and were going to be ready. The fact is, when we have a vaccine, were going to need to put it in something and were going to have to inject it into people who want to be injected and doing 100 million this year and 500 million next year is exactly what were going to do and heres how were going to do it, maria. Its this small device thats a prefilled syringe that allows it for easy distribution which is why the president brought the department of defense together with hhs to do just that. Maria so whats entailed, jay . This seems like a simple process to have this syringe and then just get rid of it. You can throw it away after. Tell us walk us through the process to produce so many, jay. Syringes are not a simple process, maria. They have to be steriley filled and manufactured. They have to be kept cool and clean. Fundamentally making the syringes is a new American Technology. Its consistent with this idea that the president has talked about in broad strokes, which is bringing manufacturing capacity back on u. S. Soil. Our capacity on u. S. Soil to package hundreds of millions doesnt exist. This technology, which is an American Technology, leads the world in coming up with high speed ultra low cost prefilled syringes which are sterile manufactured. This really is a breakthrough because nobody has ever figured out how to do this kind of volume in such a short time. The end of this year is amazingly fast, in fact one would say its definitely warp speed. This kind of thing normally takes years to build and get ready. Maria jay, where will you be producing these . Theyll be done in three u. S. Plants around the country starting next year but this year well be upgrading current u. S. Facilities that are used for eye drops. Those facilities currently dont do vaccines. So were making it possible with the dod funding to go into those plants on a voluntary basis and rapidly upgrade them so we can do this in the United States. This is a case where the supply chain is all going to be u. S. , so we have no foreign dependency which is exactly what hhs and dod have been focused on. Maria is this going to represent a trigger for other companies . I mean, we have talked a lot about this foreign reliance, jay, the fact that 70 of our active ingredients in prescription drugs are made in china. This is no question, this is a National Security issue, maria and youre totally right. Things like drugs, to have the u. S. Dependent on foreign sources is extremely risky in a time of pandemic or global emergency. Being able to of do it on u. S. Soil, certainly when it comes to things like drugs, protective equipment, et cetera, we now seen we have to have our supply chain u. S. Based. Whether or not other industries follow that lead, i think thats a combination of tax incentives and other things because ultimately businesses go to where they can be the most efficient. But americas certainly the most innovative and we lead the world in that. Maria incredible news, jay. Thank you so much. 100 million prefilled syringes for the covid19 response by yearend. Jay walker, great to see you, sir. We will see you soon. Stay with us. Some work cant stop. Because our communities need you. Which is why were working to keep you working. And ready to dig in. To help you keep your properties and towns maintained. Your farm running. And construction moving. Your work is essential. Kubotas 1,100 dealers are behind you. Together we will get through this. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. Staying connected your way youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Maria welcome back. Well, the coronavirus creating a shift in shopping trends, clothing prices are down leading to a 34 increase in online sales last month. Not everything is selling, though. According to a report from Adobe Analytics sales of pants, bra and jackets are falling as more people look for comfort. Stuck at home. On the flip side, pajama sales are soaring, up 143 and as Video Conferencing grows some retailers are reporting a rise in sale of clothing worn above the waist, dagen. Dagen i have sweat pants on, just so everybody knows. [ laughter ] maria i knew it. Dagen the trend this is a nice sweater, though, i think. The trend is sitting around drinking booze in your jamjams. So youve seen sales of like wine, spirits, just soaring during this shutdown and whats really interesting, if you watch, because of the widespread bankruptcies that youre just beginning to see in, say, Department Stores with Niemann Marcus as an example and then j crew, you arent seeing that much discounting at a lot of these stores because the designers, the clothing manufacturers have not been shipping supply to a lot of these chains so youre not seeing discounting. So on the other side of this, even in the fall, youre going to see kind of a shortage of offerings for womens and mens clothing. Its really going to be fascinating to see this play out. Maria yeah, it sure is. We will slip in a break. When we come back, bringing manufacturing back to the United States. We continue this conversation. We just heard from jay walker. Now well hear from white house trade advisor Peter Navarro on securing americas supply chains, thats next hour, right here, mornings with maria. Stay with us. Se se theres an elite group helping them understand and be safe. Theyre fighting whats out there by staying in here. They are the stay hereos meet the great hygeenie. Expert at washing hands, and disinfecting surfaces and objects. Dr. Distancio is a master of physical distancing and virtual playdates. And general feels uncovers emotions and harnesses positivity. Your kids can become stay hereos too. Learn how at stayhereos. Org and my side super soft . Yes. With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So, you can really promise better sleep . Not promise. Prove. And now, save 1000 on the sleep number 360 special Edition Smart bed, now only 1,799. Plus, free premium delivery setup when you add an Adjustable Base ends monday. Not expected to make it through Senate White House has threatened it will veto this plan. Get america back to work cdc issuing guidelines to reopen schools mass transit businesses this as more areas of the country begin to ease up lockdown orders and pressure bills to move chains from china to america, about 30 minutes time we get a look at impact of virus having on u. S. Economy when we get april retail Sales Numbers this morning 8 30 a. M. Eastern. This as yet another major retailer reportedly ready to file for bankruptcy protection, markets selling off taking a look at markets we are looking at tripledigit decline, here, 259 points seep down 32 nasdaq lower by 128, as issues continue to hear from up between United States and china. You heard it here first this morning, wilbur ross United States putting more pressure on huawei actions to block shipments of semiconductors to the Chinese Technology giant from global chipmakers china threatening retaliation against American Companies qualcomm apple cisco nevada 6. 4magnitude quake with hit western part saltlike city utah california Central Valley tweeted they feel that quick, controversy in Michael Flynn case President Trump calling for fbi report that officials claim has vanished, and weekend almost here my little dusty ready for fun in sun check this out dusty on the beach, mornings with maria is live right now. Maria Global Markets this morning mixed take a look at european indices fiment00 having given up much of earlier rally up 30 points cac quarante has given up all of earlier rally now negative, down 13 points dax in germany up 60 points as relations between. S and china impact across the world bank of england governor said negative Interest Rates are not being considered follows comments from jay powell germany meebl plunged into recession, economy there shrinking another 2. 2 , in First Quarter. In asia overnight markets mixed take a look more signs of a slow don in china when retail sales april down 7 1 2 and investments down 10. 3 industrial output however did show a slight rise in china as country eased up on lockdowns joining the conversation this morning Dagen Mcdowell, mattie, Jon Hilsenrath great to see everybody this morning. Dagen great to see you good to be here. Maria a lot to cover this morning now some top stories that we are watching, the white house, threatening to veto the democrats three trilliondollar stimulus package house plans to vote on today, house Speaker Nancy Pelosi admits unlikely to pass. We are saying orange county, here is our offer lets see where irsadly what leader mcconnell said we have not yet felt urgency acting immediately he wants to us just halt. Wants to us just families know that hunger doesnt take a pause. Maria here os act includes making certain undocumented grants eligible for a round of 1200 dollar payments from cares act also includes 25billiondollar bailout for u. S. Postal Service Funding for vote by mail, and same day registration operators, funding for marijuana, mairn business thousands americans going back to work as 11 states ease stay at home restrictions as cdc released new guidelines on reopening the country they come in brief check lists separate one page documents to help schools work places child care mass transit bars restaurants as they try to reopen safely. Unmavinging exposing of investigators Senate Judiciary chairman Lindsey Graham announcing investigation into russia probe tied to case of general Michael Flynn but rejecting President Trumps suggestion to put former president barack obama on stand, graham says nothing more than good tv former cia director john brennan former dni director James Clapper breaking silence yesterday after being exposed as making unmasking requests for general flynn watch this. I think our country is in very serious trouble with. When you have at highest levels in this government, something i never saw i would see in lifetime. Routine thing appropriate and legitimate when you have a valid foreign intelligence target he engaging with u. S. Person. Maria joining me right now former South Carolina congressman trey gowdy thank you so much for being here got to get reaction to what you heard from clapper and brennan, brennan says that our country is in big trouble because of political corruption at the top of government. I is he talking about himself . I mean is he talking about the guy who used, a dossier in a court pleading that National Enquirer would be impassed to print the guy accused President Trump of treason go back play what brennan used to say with evidence now john brennan is as responsible for what this you you country has been through last three years as anyone i can think of i just dont give a damn what john brennan says. Maria well, i i think you are hitting on something important i heard that sound bite thought wow isnt that rich given John Brennans role, in efforts to take down a sitting president based on nothing, so back in 2017, when you were the chairman of the oversight committee, you were serving in congress you had a chance to question the former cia director about probing russian interference including use of steele dossier play that clip. Watch. You know if bureau every reside on a steele dossier as part of any Court Filings . Applications, petitions pleadings . I have no. Did cia rely on it. No. Why not . Because we we did not it wasnt part of the corpus of intelligence information that we had it was not in any way, used as a basis for the Intelligence Community assessment that was done, it was it was not. Maria trey, educate us will you is lying to congress a felony . It is. And i am sitting here shaking my head i dont know which is worse that john brennan is head cia did not know or lied to congress get emails grenell, did a great job did he clarifying information get emails between Brennan Comey get comeys emails from fall 2016 when hole intelligence ica use of the dossier, find out who is right, declassified emails find out whether john brennan was truthful when he said he didnt know whether it was used in fisa application did not know whether or not cia relied upon it because i do i do know and he knows,but we got to get difficulties out so you and your viewers can know too. Maria yeah. We had a document dump this week, last week, we also had the unmasking of maskers requested to unmask general flynn your take on list of people included john brennan included, joe biden, as well as jim comey they wanted to unmask general flynn. I had a couple maria. They also wanted to leak leaked to press as well, again, a felony i believe, right when you are leaking classified information to the media . Yeah, it is a 10year felony, my first thought was thank the lord for devin nunes went through hell 2017, 2018 pushing unmasking story despite no help from democrats no help from d. C. Meeting, look at number of people access to american citizens names i was struck by the by the breadth i mean undersecretary from mike kronesia does not need unmask being look at people how it connects the more people had access to that name more difficult leak investigation is. So you got to shrink the sphere of people who can unmask american citizens names you got to treat a 10year felony like what it is which is a serious crime disseminating classified information i asked fbi again how is your leak investigation going i know hour your Michael Flynn investigation went i know time and effort you spent to try to catch someone in a lie how is your 10year felony investigation going . It has been four years now. What about the museum investigation Christopher Wray trey when you look at mueller named nay 2017 we see from all difficulties official confirmation that even in may of 2017, they still did not have any evidence of any russia collusion that the countries with a up in arms about for two years they still named mueller investigator. Yeah there never was any including i mean if we learned anything from the transcripts, that ric grenell released there was never evidence of including. So what are you left with . You are left with what did russia do to this country, but i didnt i didnt you know pick sessions did not pick are those stein did not pick wray we got mueller was a Jeff Sessions recused himself Rod Rosenstein picked him that is how we got him, and and what you russia did to this country, was worth looking at i thought devin did a great jock encourage people read the report. The rest with with whom did they do it with a made up media story that that is paralyzed this country three years cast a cloud over President Trumps first term why he is so upset about it, justifiably so. Unbelievable we will see, we are waiting on john durham at this point trey gowdy great to see you thanks for weighing in thanks for great work on this trey gowdy joining us this morning we have a lot to talk about next up white house trade advisory inactive rov here on Critical Technology manufacturing back to the United States, copushed to home depot here Bernie Marcus on beijings response to the coronavirus pandemic dont miss it. Well be right back. Accused. Maria welcome back, lets look at markets we have looking at tripledigit decline dow industrials down 200 points right now we are awaiting april retail Sales Numbers this morning out in 15 minutes positioning time estimating decline 12 for april we have also rhetoric between. S and china, flaring up once again, with a new push against Huawei Technologies this morning as i heard from secretary wilbur ross Dagen Mcdowell a lot of things that investors are looking at this morning, including, the Chinese State media pushing back making threats to American Companies, and lawmakers. That is a story in terms of the fractured relationship that United States has with china, both on a federal government as nation but, also, related to private industry going to play out literally for years to come a reticence by china to even begin origin of the coronavirus killed tens of thousands in terms of markets a headwind the market for a o very long time will be facing in temperatures of production manufacturing, in china, moving back to United States. And also in terms of retail sales some chairnz beginning to open no coming weeks going to be listening for consumers excited to get back out there, and start shopping those still have jobs, or have really been saving money in the last month and a half. Maria yeah Jon Hilsenrath there are a lot of rosy projections for second half of the year, do you believe that we will see growth in the third and Fourth Quarter jon . Well, yeah, i mean i think the worst of it hit, was march and april we are going to start to see some comeback the big question, is how quickly it happens, whether it happens in get back jobs that have been lost but i would point to the disconnect between the economy and markets right now markets bottomed in late march. They are up 20 from their bottom if you look at s p 500. Ive got three explanations for that one is just that the fed and federal government are pumping so much money into they do another maybe getting ahead of themselves the third i am intrigued by perhaps the markets are sniffing out not a vaccine but treatments could increase mortality rates from virus allow some kind of normalcy in minutes ahead happening on. Maria you are right we just had jay walker on from ab abijtee. To manufacture syringes distributor a hundred million with Covid Vaccine in them jon. Right, not just syringes what is happening in biomedicine right now i think we are going to look back on this, 2030, years from now potentially having been revolutionary how fast system moving not only produce vaccine but to fund treatments to alleviate conditions of coronavirus and covid19. Dagen i just want to point out that i said that all along, hiv, for example, no vaccine but treatments that developed he slowly but surely over the years, that now reduced viral tlood where it is imperceptible the American People know that people want to get back to work if we can get a treatment, that will prevent people from becoming catastrophically fatally ill from this virus that is enough to volume economic function back to a more normal environment. I think the question though is what lesson do we learn from this can it always be this way we dont have bares erected by fda regulatory agencies that keep us from being able to recognize and develop cures . Not even cures, to what you are saying you know biologics allow to us fight disease needs to be another takeaway we have had a federal bureaucracy in the way of innovation for years and years and years only took a crisis to finally celebrating some of these things loose i hope that is last thing left in here as we move through next couple 347bs and years. One thing would i add bureaucracy there is for a reason, there was a lot of speculation, early on, in this, that, you know, certain medications hydroxychloroquine were going to cure this overnight it requires testing i mean there does have to be testing but i think what bureaucracy learned is that in a crisis it has to move a lot faster than normal times before. Maria umhmm. Yeah, that is what we heard a bit about, yesterday during that doctor bright testimony. I want to talk about that going to talk about that with Peter Navarro coming up let me ask you about Taiwan Semiconductor news, because this is one major example of bringing manufacturing back to the United States. One of apples microchip partners opening a plant in arizona we have been telling but according to Taiwan Semiconductor this morning the plant is scheduled to open in 2024 will produce 20,000 chips per month by 1600 people we talk become that with Peter Navarro joining us in washington. Peter great to see you. Thank you so much for being here. Here in nations capital. You are the assistant to the president for trade manufacturing, you are the point man on all of this give your sense of the Taiwan Semiconductor story, and what that means in terms of sentiment toward bringing it back are you going to be able to move the needle, what kind of incentives do you believe thiS Administration will have to offer companies to bring that manufacturing back here . About what incentive it is president donald j. Trump the word out around the world that if you want to travel to the United States you have to build in United States, that is what that is about, i love to see apple orchards springing up in arizona as wellmeaning that apple needs to bring home, more of this supply chain and production as well. A great day, for america with this outcome. President , medical Manufacturing Company yesterday in pennsylvania. We are talking about this new executive order that you have been speaking about new reports that white house is writing executive order requiring essentially drugs made in United States after president toured that medical Manufacturing Company in pennsylvania can you tell us more about executive order . Lets start with yesterday, because that was a historic day, Strategic National stockpile 2. 0. It is [laughter] it is in President Trumps image, it is smarter bigger and stronger what do i mean by that . Basically the fight that china virus enemy, we are going to need a big, bicker stockpiles of personal protective equipment and medicine the new stockpile concept is smarter in that we brought in a lot of new information technology, in order to assist in the management distribution of everything we need, it is it is a bigger stockpile in a smart way, because not only we are going to add to the inventories of the fema warehouses in terms of quantity diversity of what is in them there are other ways we get to expand stockpile i went to Distribution Center like that around the country are going to carry larger inventories that will add to the stockpile, honts, point of care, many also increase inventories now full circle to the idea of production here in the u. S. Maria if we learned anything from this crisis that we cant be dependent on Global Supply chains, for our ppe and our medicines in times of pandemic, so as we onshore our production, here, in the United States, these companies are also going to maintain reserve capacity, will allow us to surge, with respect to the to the executive order this is moving through process it is the end of that process in respect has been to be honesty a few bumps in road with deep state about globalists inside bureaucracy somehow think it is still okay to buy from the rest of the world instead of buy american i have been down that road before with the president , president has signed already five buy american executive orders the concept, of the other is simply buy person deregulate late innovate so we can have our government agencies, agencies like, Health Human Services dod Veterans Affairs buy their needs from u. S. Sources. And what that will do is create a base level of demand attract the appropriate investment we need the innovation part is really important too, advanced manufacturing maria this is our future in drug manufacturing is the key to api key to continuous manufacturing, all this stuff will help us lower substantially the cost of drug manufactures allow us to compete, with the foreign producers when they cheat with slave labor pollution 1 2 enz unfair tax breaks we are going to bring it on home so we hope to get that to the finish line, as as soon. So you think that executive order is out in next couple weeks . You have been talking about this for sometime, i know that you moving in trump time as a matter of process, the last step in consecutive order you want teer carefully form and legality department of justice legal conscious we hope to get that one to the finish line it is always an interesting process, with buy american again town is interesting they just dont get it they dont understand, pennsylvania, ohio wisconsin, and make it here this is like the d. C. Globalist people you know, President Trump has changed that culture we have a Semiconductor Plant opened in arizona everybody understands new sheriff is in town with tariffs, other weapons that he can use, but today is a good day, by the way, operation warp speed getting nouns rose garden next just another way that this president donald j. Trump is fighting the china virus in this war. Maria yeah, and the Chinese Communist government not happy about it rhetoric has been raised, weve talked about this all morning looks like that is moving markets this morning, because, now, Chinese Media is saying we are going to get back, at people like senator tom cotton senator josh hawley, for saying anything negative about china, but listen to this tweet, that the editor of the global times is writing he says based on what i know, if u. S. Blocks Key Technology supplies to huawei china will activate unreliable list restrict or investigate going to investigate Qualcomm Cisco or apple we are going to suspend purchase of boeing airplanes peter every time we see nothing from media in chooirp we know coming directly from Chinese Communist government. What frosts be bad enough china spawned virus hid from world allowed it to become pandemic hoarded personal protective equipment newest signing trade deal supposed to stop intellectual property theft we catch them apparently redhanded trying to steal our intellectual property for Vaccine Development that is that is no pun intended that is crossing the red line there so the global times they dont take anything they say seriously just a propaganda ride come on china come own china join the rest of the world here, and act properly, we are in middle of a crisis that you created, help us now instead of trying to steal our vaccines. We have been talking about vaccines we saw yesterday test from dr. Rrick bright whistleblower with with regard to to u. S. Efforts hydroxychloroquine came up i wanted to Say Something about that i got to get your take where we are in this economy, as we are waiting on retail sales peter we are getting numbers out eminently go ahead. The bright circus on capitol hill i think american tragedy this guy has been called o disgruntled employee he is a deserter in war on china virus why do i Say Something that harsher because he was asked to undertake a mission go to nih be field general there, with the billion dollars, behind him, to basically charge the hill he did not do that instead went in fox hole wrote up a complaint basically went on capitol hill, and instead of serving this country has become a partisan pawn unfortunately, a pandemic that democrats are turning into a partisan game so that is just wrong, it is a tragedy because he is a very talented intelligent human being but this idea of of the winter is coming game of thrones saying i heard the same day our president , was introducing Strategic National stockpile 2. 0 showing the world, how we can work well, going into the future, just that was dissonance for me unit tragedy for him. Well too bad that were not talking about solutions here, in the middle of a pandemic, peter youve got more states opening today, beginning to reopen the president wants to see some economic activity, coming back, we are waiting on retail sales here peter going to jump to that as soon as we get it but quick, from your sense how long living like this when normal how long do you think this whole process is going to take . You said on sunday that last sunday you think multiyear. I see i see great hope for this country, under leadership of President Trump, for this reason. Yes, we are going to do all macrothings we need to do with surplus basically fiscal Monetary Policy up to 10 trillion dollars already. Just when as with obama biden in 2000s that is not going to do whole job. Back then china stock destroying our economy Manufacturing Base this time virus bringing about enormous structural changes we have to use genius of donald trump at microlevel, i saw the gm yeah, you have numbers today. Retail sales, 16 . 16. 4 . I am looking into the future i am seeing a bright future, with things like General Motors and fintech able to stand up, in 1 days build in 95 mass factories m95 mask factors in five weeks today Semiconductor Plants going up employing 16 zornans nobody promised a rose garden one is right here this is something we as americans are going to have to rise to our best, innovate work hard, and accept the challenge, and this president has done that. So i see a bright future. But weve got a ways to go, in terms of getting there, it is going to be a lot of hard work we need to get back to work what america is doing this week. All right peter great to talk with you thank you Peter Navarro i think what you are saying as we look at numbers, is that we need to have manufacturing rampup in this country, especially now, given the Fact Services industry are getting crushed by this covid19 restaurant, hospitals, so we need to buck up that manufacturing area peter thank you. We will see you soon looking at numbers right here, in that services industry, retail sales down 16. 4 , exautos down 17. 2 it is Service Industries getting crushed here you got to get Manufacturing Industries ramped up in this country. Cheryl let me add to numbers you are giving the new York Manufacturing survey for may coming in 48. 5 that was better than expectation, 63. 5 to downside but as far as retail sales go worse than expected, the monthovermonth headline number for retail sales, even if it has been down 12 that would have been the second biggest line to we have seen since thisness numbers have been tracked since 1992, actually even worse than that to your point about the economy, consumption because we ares consumer driven economy analysts are saying that you know if we had at least that 12 number got 16. 4 just to downside, that basically says that you are going to look at a loss of Second Quarter Consumer Spending anywhere from 20 to 40 to the negative, so that is gdp. And you are bringing that up as well. Again, that First Quarter gdp down 4. 8 , lord knows what Second Quarter is going to look like again these are worse than expected awe all i can say new York Manufacturing survey number a little bit better kind of a bright spot ive got in all of this as you cancy futures down 2. 2 right now maria. Maria there is not a lot of bright spots at all certainly when you look at Business Today in middle of this you heard earlier Jon Hilsenrath say maybe we are past the peak in terms of the worst impact lets get with micro macro mavens president of macro mavens Stephanie Pomboy to react to 16. 4 decline retail sales something you certainly were expecting how do you see it . Well, yes, it is i think, this april is definitely living up to cruellest month if you look at weekly samestore sales data we have seen so tar for may clearly, things are going to improve, or lets just say they will be less bad in may. So and you know echoing what cheryl noted on empire Manufacturing Survey actually far less than expected for the month of may so far. You know, i think we are seeing the worst of it right here. For me the bigger question is what is the longterm outlook for Consumer Spending after this. And you know adadmitedly looking months quarters ahead to the possibility see sort of same hunkering down mentality we saw after Global Financial cries on part of u. S. Consumers i mean if you recall it tucson a long, long time and we had one of the weakest recoveries in postwar history, because consumers really were trying to repair Balance Sheets i think the odds are that they have the same today after this unprecedented hit to the economy, and their financial situation. But that will be compounded by a new normal on the part of the corporate sector, you know as Peter Navarro just appointed out this reshoring of production is great necessary, about time we you know operated that way. Is going to be nearterm impact negative for profit and for hiring, obviously, there is costs, associated with reassuring production that will take time, at the same time, i think the corporate sector is learning lesson that you cant run your operations in the pantsdown mentality if you pardon expression they have been running last decade largely at urged we dont hold cash dont hold inventory why hold cash about when we can access credit markets for any funding we need offshore production no cash no inventory i think behaviors are going to change again they are very positive for the long term, but the hit in immediate going to be to hiring and capex Profit Margins so i think that is really the question here, is that how bad are things now, but what is the path moving forward, and i know everyone is getting into alphabet letters, and you know corporate logos trying to figure out what shape of the rover is, i think, the up shot is that the stimulus we have seen so far, monetary and fiscal is warmup, and we will see much more stimulus on both fronts it will last much longer, than anyone is currently expecting. Maria and we know a number of retailers Service Businesses restaurants will not make it out of this youve got retailers filing for bankruptcy j. Crew neimanmarcus more than two million retail jobs disappearing in april Thousands Stores closing as well as consumers shift to only shopping, Jon Hilsenrath, your thoughts, as we see this 10 trillion dollars of stimulus get executed. So two thoughts, one relates to stephanie one relates to retail sales report today, out thelook for the consumer is the outlook for the job market i think the thing this is worrying right now, is that a lot of the cuts that were made described as temporary a month or two ago. There is a real risk as bankruptcies mount they about many permanent a long time to get them back the whole talk about reshoring if this is going to happen we needed wide ayed open ayed what that endailies it entails hit to corporate profits potentially less efficient profit entails higher prices for consumers you know a lot of us have enjoyed cheap televisions cheap to say ters from walmart imported from china caution of cheap labor if bringing everything home our own prices are going to have to go up we have to be wideeyed about what that means tradeoffs in all decisions were making. Dagen a couple things you talk about consumers were hunkered down after the last financial crisis in 2008. Is the same thing going on, here . Where the Federal Reserve is pumping trillions of dollars into markets and academies inflating assets, and then people at home who are out of work, albeit temporarily or even permanently getting well jack nothing the fed is doing nothing for them, number one. And number two, the businesses that have temporarily furloughed people, are they across the country starting to take a stance of were going to manage this business, very conservatively we are going to account costs we see that we can run at a much smaller footprint much lower comforts, because of ultimately, that slow growth mentality begets slow growth it turns a a sharp downturn into something that lasts literally for years. Maria yeah, i feel that is what fed chairman powell was trying to say yesterday, this week, stephanie by saying that there is longterm damage to worry about longer economy stays closed. Absolutely, and i guess to your point dagen it is really kind of rich or make sure sad is the word, to see that the policy playbook fed is going back to is same one they keep going back to with the same dismal results which is to expand the gap between haves and havenots, inflateing assets in the hope some day that feeds back to the economy the problem for the fed is that they have precious little other options launched main Street Funding facilities, and hopefully that will provide some support although it is just a fraction of the amount of stimulus they are putting out, in a broad scatter shot that leads to my point earlier, that the surplus is going to have a to be so much bigger than what weve seen so far because do you have to get money to the regular guy you know who is now unemployed may stay that way for a long time. So everyone weve sort of silently transitioned into this world of mmt, without any debate or criticism of china handling of the coronavirus pandemic, heading up calls for retaliation against chinese leadership escalating my exclusive interview with President Trump i asked about his relationship with Chinese Communist government and president xi jinping amid coronavirus pandemic. Have i spoken to xi jinping. I have a very Good Relationship but i just right now i dont want to speak to him i dont want to speak to him there are many things we could do we could do things account off whole relationship if we did what would happen . You would save 500 billion dollars, if you cut off whole relationship. Maria joining me home depot cofounder Job Creators Network founder Bernie Marcus great to have you this morning i want to get your take you remediate wrote this oped on foxnews. Com about chinas covid19 response getting to that in a moment what do you make of what the president just said, as a founder home depot buying cheaper from china and being able to sell low cost, what if we did see a real change and got rid of this relationship as the president just said what is the impact . Well, first of all, nobody i dont know if i heard anybody speak about the origin how it happened i am old as can be maria, i remember the days when we went to japan we went to china to find a way to manufacture, i am not in Manufacturing Business i am retail business, but i can speak for many manufactures they went there for lots of reasons, number one, it was labor cost as a small portion of it, but the other one regulations you have no idea of how badly the regulations were those days, epa, eeoc agencies with trail lawyers litigation lawyers made life miserable for manufactures and even though they made a products in china, or japan, the cost was equivalent, because there is a time delay you have to order six months in advance ship here all those things cost money, but it was worth going there to get off shores of the United States because the costs of producing the product were so high, the taxes high, and labor costs it was not labor costs, but unionization, and rules, regulations killed them all and forced these manufactures to go oversees i want to president to understand he did a great job, in getting rid of many, many regulations if you wants to bring manufacturing back to the United States, he is going to have to make sure, that those regulations dont come back in, that the cost associated with it not there, and that it will make it easy for manufactures to make that investment. The other thing we have to give given to come back. This is a really important point that you make because i asked the president that, what kind of services in are you planning on giving companies, in order to actually get them to want to move production back, lets not forget, the Quality Control and quality issues that were having from the items from china masks faultyings masks, china quality patrol problem in covid 1 pandemic, how many masks that we have to send back and kits didnt even work there is that issue, talk speak to that before you tell us what kind of incentives would you like to see in terms of Encouraging Companies to bring manufacturing back bernie. As a citizen i am not associated with home depot any more out of home depot 18 years. I have no no problem reasoning the operation anymore but i can tell you this, as a normal citizen i dont understand what happened. Why china has done what they have done, why theyve been participating in this this mirage of theirs, hiding the coronavirus, from getting hiding from American People hiding from people all over the world and now producing products that is not like what they produced before. Maria right. Doesnt make any sense, if somebody scan explain that to me, it will be a revelation to me. What is most important incentive a tax break what is the incentive to get companies to do it . If tax break, it is to open here make sure that the regulations dont come back. I mean that is a killer. The regulations, that is why fortunately in the country we have states, that have the ability to operate, without worrying about unionization coming back if pounced on by unions i know i am going to be attacked by a lot of people on this but they have to understand the ability to do business function normally in manufacturing world you cant be dealing with these outside energies that come down on you, along especially with trial lawyers, so you have to make. Maria we dont care about attacks we dont care about attacks we know we are going to get attacked haters out there bernie you are one of the great innovativeors of our country starting a Small Company named home depot when became a big company. Well be right back. And its my vision, my morning walk, my sunday drive, my grandsons beautiful face. Only preservision areds2 contains the exact nutrient formula recommended by the National Eye Institute to help reduce the risk of moderate to advanced amd progression. Its how i see my life. Because its my vision. Preservision. Maria welcome back, nascar coming back this weekends, drivers back on track sunday for the first time in months, honoring front line workers Grady Trimble has more. Good morning this is the first major sporting event since the coronavirus pandemic shut down more than two months ago things looking different at darlington South Carolina on sunday nascar wont be testing drivers every day there will be medical personnel to monitor for covid symptoms broadcasters on fox wont be on sight wont see high 5s, fist pumps social distancing remain if place no qualifiers no practical drivers jump straight on to track because of that some say they needed to be extremely careful they could be a little rusty after a long break have not spent time behind wheel other than competing in eracing virtual racing competition as in radar aeing plans for races through june all of them without fans. Then in gulf world pguesstimatea golf doesnt resume until the middle next month there is a charity consensus golf match this week between mcilroy, fowler a couple others, wont be any caddies allowed to enforce social distancing policies competitors have to carry their own clubs keep social distancing in place probably first time these big shots had to carry their own clubs since kids maria, these are, of course, first two live supporting events because of pandemic a lot of people watching not just because they are starving for live sports because there will be so many safety precautions in place to see how this works with social distancing, maria. Maria all right, live sports grady thank you, Grady Trimble catch sundays as in car cup raf leave on fox 3 30 pm eastern time dont miss it right back with more mornings with maria. Break in the clouds before anyone else. Together, well weather this storm. Some because ourstop. Communities need you. Which is why were working to keep you working. And ready to dig in. To help you keep your properties and towns maintained. Your farm running. And construction moving. Your work is essential. Kubotas 1,100 dealers are behind you. Together we will get through this. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. Its timcan it helpemorial daykeep me asleep . Eep number 360 smart bed. Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. Save 1,000 on the sleep number 360 special Edition Smart bed. Plus, free premium delivery when you add an Adjustable Base. Maria thanks to this allstar panel. We will see you soon. Have a great weekend, everybody. Right to stu we go. Varney company starting right now. Take it away. Stuart thanks, maria. Good stuff. All right, everyone. Good morning, one and all. Ive got two news items and a negative stock market response. Lets start with the news that broke around 7 00 this morning eastern time. The u. S. Will move to block shipments of computer chips to huawei. Chinas most Important Technology company. The market came down on that because theres a possible reaction against apple and boeing and a couple of other dow stocks thats helping to send the dow down. Then came the