crucial sectors when it comes to doing deals for trade with countries, one by one here. but this comes as the white house is trying to apppli play fears of a trade fight with canada. we know there was a phone call between president trump and just are continue trudeau in which the white house said was amicable, butt canadian prime minister did promise to defend his lumber industry after a threat to impose tariffs on lumber, there is also a dispute surrounding the dairy industry. elsewhere, markets are shrugging off trade fears and welcoming an anticipated tax plan coming from president trump with details due later today, expected the headline will be a reduction in the corporate tax rate to 15%. that is seen as good news for earnings, but fiscal hawks in congress may raise a few concerns on that one. so look for reaction on the hill. and a big media headline reports that radio giant iheart media is facing a possible bankruptcy. what will we see there? yeah, big development here.
the alliance between the u.s. and south korea. and it s meant to be a deterrent symbol between south korea, including the failed missile launch you saw, just a bit over a week ago. analysts in the u.s., predict that north korea is ready to pull off its sixth nuclear test at any moment. washington closely watching. and just yesterday, president donald trump speaking to conservative journalists saying kim jong-un is not a strong leader. no response from north korea to those words. everyone is watching to see if they will attempt other provocative measures, timed to coincide with this holiday. a nerve-racking moment here on the peninsula. thank you if that, alexandra steele. the trump administration hitting the canadian lumber industry with stiff tariffs. the first imposed by the trump administration. the president threatened taxing imports on the campaign trail. you heard him striking out hard against mexico. but it is canada, his first
club, being down at the private club in florida and taking foreign visitors there, mentioning your products constantly, talking about the beautiful piece of chocolate cake that i mean, listen, this is not by accident and unless somebody stops it it s going to keep being g.ing. they have pulled down that post. the cake soundedel really good by the with a i. you mentioned culture because there is this worry among ethicists that you have all these people working in this bureaucracy in washington who will be can you remember seeing favor with the private industry of donald trump. nice to see you bright and early this morning. the trump administration is hitting the canadian lumber industry with stiff tariffs, the first imposed by the trump administration, the president threatened taxing imports on the campaign trail, you didn t hear him talking about canada very much, he was talking about mexico and it was canada that the commerce department is going
message that it is on the way, but tough trading enforcements, old american lumber businesses from fully realizing their potential. this does cross party lines. that is very true. i was going to bring that up. it is striking to me. usually you see in these fights that democrats are unified, here is ron wyden, a pretty liberal guy from the state of oregon, but given the presence of so many who are in the lumber industry standing up and saying, this actually is a problem, particularly call attention to his language. he said it distorts the trade relationship given the premiums that canada puts on its products. bret: what does this mean for china, for example, when they see this. did they say, look out? the real question is, how it plays out here. we haven t talked about u.s. consumers, u.s. home buyers, and
so much to discuss coming up. jenna: more information on a looming trade war with canada. there s a key deadline days away. this comes down as the lumber industry cracks down on the imports. canada has made business for our dairy farmers very difficult. we will not stand for this, says president trump. watch! mike tobin is live with more. jenna, the first shot in this trade war was fired north of the border and hit here in the dairiland. here s in wisconsin, they sell milk in canada and used in cheese. canadian dairy farmers knocked their prices down and knocking the wisconsin dairy farmers out. as of may 1, they were told the contract is no good anymore. losses to dairies in new york and wisconsin is estimated at