will seem to strain to project optimism after the toronto star reported explosive remarks from president trump that the u.s. negotiating position is quote going to be so insulting that they're not going to be able to make a deal could even prime minister justin trudeau struck a particularly canadian core tone rather and a polite resolution saying quote we're going to remain constructive positive serious and creative about what we do around the negotiating table and what we do in relation to the united states he said but we are also going to going to be unequivocal about always standing up for canadians rights and canadians interest. the troubles of the argentinian and the turkish turkish currencies are roiling markets worldwide this week the argentine peso plunged twelve percent to a record low on thursday also on thursday the argentine central bank raised interest rates to sixty percent sixty percent oh my gosh even that failed to stop the slide of the peso the recent fall of the peso was ignited after president

machree of argentina made a plea on you tube to the international monetary fund or i.m.f. for a speedy delivery of the expected capital and credit we've reported on the program here in the past mr mark reclear really has the i.m.f. attention as i.m.f. managing director christine lagarde will visit argentina next week to advance talks with argentine officials over a possible fifty billion dollars credit package meanwhile the turkish lira we've spoken about continues on a general downward trend following roughly eight percent for the weekend trading at only fifteen cents earlier today that's compared to twenty cents just one month ago on friday the turkish government said it would waive taxes on bank deposits made in the lira the two currency calamities seem to be generating negative synergy in the markets as some investors start to take a second look at currencies of the philippines indonesia and india. and speaking of india our viewers there will certainly recall the mass currency conversion decreed

and they surprised a prize announcement by prime minister narendra modi in late two thousand and sixteen mr modi's monetization plan or demo as it came to be called abolish large rupee notes in an attempt to stem the problem of so-called black money that is neither deposited in banks or subject to taxation the decree set off a near panic in some areas as indians stood in long lines across the country to beat the fifty day deadline to exchange bills which in theory would become worthless for new currency but now the reserve bank of india says that after the demo ninety nine percent of those cancelled large bills ultimately went back into financial circulation mr modi's opponents quickly proclaimed the demo a frustrating failure however the indian central bank also found that in the make of the demo indians opened millions of new bank accounts the number of indian tax returns filed also increased by roughly twenty five percent and dancing another stated policy goal and for more on the north american free trade agreement and the

particular impact related to canada i spoke a short time ago to scott de barge an expert analyst at i.h.s. market who joined us from london. scott welcome thank you for joining us from london we sure appreciate it i mean there's been a lot of political discussion between the folks in u.s. canada and mexico and some of that i don't think gets down to the real benefits or maybe the lack thereof but what has been the real reward for canada as part of nafta. well certainly canada's experience tremendous economic growth benefits because of nafta all parties have benefited trilateral trade has nearly quadrupled from just under three hundred billion u.s. dollars per year to just under one point two trillion billion u.s. dollars per year but certainly has experienced a lot of economic growth because of it roughly two point five percent. more economic growth per year than they would see otherwise that is to say that economic

growth tends to be g.d.p. growth to be clear tends to be two point five percent higher because of nafta than it would be otherwise and you know we've reported on the program before that i think it's about a half a percentage point of g.d.p. for the u.s. increase as a result of nafta so overall it seems like a good thing although i guess there are specific deals when you look at the u.s. and canada what are the major things that are going back and forth and what's the key thing for canada now why do they really want to specifically sector specific want to be in this deal. with the biggest thing to think of from the canadian perspective is the impact on the automotive industry so one of the reasons they were driven to the table and that they're part of the party to go have taken place through the last couple of nights and in a pretty frantic pace is because of the threat of tariffs and the threat of tariffs on twenty five percent twenty five percent tariffs on canadian auto imports and

that would have a tremendously negative effect on the canadian auto industry much of which is concentrated the province of ontario ontario electorally important but it does fifty percent if it's if it's international trade is with us it's a it's a very very very strong connection and that is the first thing that needs to be maintained the second issue is the bilateral links you know there are so many economic connections between between canada and the united states and mexico that the elimination of the of the nafta would have a seriously do experience the effect on on economic growth and on the state of the canadian economy and. your decimated that the elimination of nafta the reposition of auto tariffs would cause the canadian dollar to decline between eight and fifteen cents if you want a volatile. so this is this is in particular the imposition of a twenty five percent tariff rate on automobiles eight fifteen cent decline the

canadian dollar visa v. the u.s. dollar and i mean the industry directly employs a rich one hundred forty thousand people and since there are so many banks across the border and so many cars are shipped to the united states it's one of our biggest exports and scott what is it about the proposed agreement that the canadians like there are so many there are so many things about this deal that kind of agrees with their changes to chapter eleven which the investor state to dispute resolution mechanism these things kind of supports the requirement to have forty five percent of a vehicle creations were produced by workers to make at least fourteen u.s. dollars per hour that's something that has introduced in previous runs a negotiation supported and certainly of the benefits canadian companies as well and the increase in production that is focused in north america to seventy five percent that's something that also benefits canada and the lack of hard sunset

clause is something they agree with from a canadian perspective this isn't a bad deal it's just a matter of sorting out the rest of the dispute resolution mechanism provisions and then agricultural cultural provisions which are a major sticking point for capital thank you so much scott but darren we appreciate you joining us and he is a senior analyst at global analyst and author audit at country risk at i.h.s. market thank you scott. and returning to a story we've covered in the past we again look at the harmful herbicide glide both sit with the latest we're joined by our. sara thank you for continuing to cover this thing up to date on where we are what you've been looking at this past week well that a.w.g. really want to answer the questions for concerned parents of removal of curios and other cereals that contain the harmful life if life if they so what they're suggesting is parents look to healthier products which are organic. roddick's but the most interesting part of their response was they know that the e.p.a.

low levels of life is a risk have changed throughout the years they know the e.p.a. is currently the limit for life as they are notes and many other grains is thirty parts per million or ppm but just a few years ago it was three hundred times lower at only point one parts per million i actually got to sit down with j.t. hansen senior policy analyst from the center for food and safety and i asked him why these changes and this is what he said if you talk to. the staff over in the e.p.a. pesticide division they would tell you that they have pesticide company people coming to them every day. they have people like me come in once or twice a year but the industry is there pestering them and the industry pester them to change their standards nothing more nothing more than that. so it really is part just following the money if we really take a good close look at the numbers bear is paying high amounts for their lobbying efforts and the lobbying disclosure database for twenty seven thousand shows that

their efforts totaled over nine point four million dollars and so far in twenty teams has already surpassed that and it's close to ten million but we still have four months left this year and with all the great rising lawsuits we have yet to see and you can only imagine how high these numbers will be so bear has ramped up their lobbying already this year there that that already exceeded where they were last year and sarah what are groups like interviewed the center for food and safety one of the advocating there really advocating for overall removal of life to say that it's harmful there are actually also pushing for the f.d.a. to release again there were to twenty sixteen report results and asking for people to write to their congress members to do so one of their major concerns is that life estate will be removed but will be replaced with even worse herbicides that will be worse more home for the environment more harmful to people and really all we can do right now is push for that f.d.a. to release that report so i'm on to oka thank you for covering this covering this

really troubling but important story thank you. and it's time now for a quick break but hang in here because when we return we'll talk about global and u.s. market health and more with the founder and president of investors advantage corporation john grey's who joins us from l.a. and the wealthiest among us the proverbial one percent are getting special treatment at luxury airports from los angeles to dubai other places around the globe archies manila chan gives us to as we go to break here are the numbers at the closing bell.

they're not going to learn how to not they're not not are not good at that not out of the mouth of the money there's lynnette actually. this was a good time to. try to move there i'm. not allowed to get my money not why not pick ten then again why exxon and the whole people we believe this will be a. lot of my kids i don't want them up aside john if i already know the moment i've

got a mother how do you not accuse those are there a lot of them i'm a little white community old and i thought the things i don't want to put out they are the most cardioid i don't know the mother who was living. in a world of big partisan movie lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the time is now for watching closely watching the hawks. for manners sitting in a car when the fifth gets shot in the head. all

four different versions of what happened one of them is on the death row there's no way you could have done it there's no how. way because the list did not shoot around a corner. welcome back the trade and tariff tangle between the u.s. and the e.u. continues to generate winners and losers as the chips continue to fall and the latest company to take a hit is a familiar american brand jack daniels whiskey dec daniels the top selling american whiskey in the world is made in tennessee by the brown foreman corp this week brown foreman confirmed that the european union's tariffs of twenty five percent on their potent potable have hurt their bottom line compelling management to lower the

company's profit forecast for the remainder of the year and beyond according to the company the losses could be in excess of fifty million dollars jesting a per share loss of ten cents to hit comes even as overall sales were reportedly up sixty percent but international sales were flat company executives had planned on a twelve percent increase in sales outside of the u.s. whiskey is one of the many u.s. products targeted for tariffs by e.u. diplomats to cause maximum economic pain and political backlash tennessee gave donald trump its electoral votes and twenty sixteen and bourbon whiskey is of course made only in kentucky home of senate republican majority leader mitch mcconnell and turning to another business last political story impacting corporate profits and updating a story we previously touched on dick's sporting goods the u.s. retail chain says their profits have fallen due to a drop off in gun sales and complications with a prominent brand name supplier dick says same store sales were down four percent

while net sales total two point one eight billion dollars which is about fifty million below expectations our viewers will recall that dick's declared they would no longer sell so many automatic military style weapons on. called assault rifles and limit firearm sales to buyers over twenty one years of age after the mass shooting at marjorie stoneman douglas high school in parkland florida earlier this year in that case the gunman used an a r fifteen assault rifle to kill seventeen students and staff members the sporting goods chain also took losses related to declining sales of under armor clothing after the brand moved more of their product into discount stores. and as we wrap up the week asian stocks took a hit as the continuing possibility of an all out trade war between the u.s. and china ceases to abate the shanghai composite index closed down about half a percent and the japanese nikkei closed down a little as did the hong kong hang seng index which closed almost a point down and in european stocks the german dax and london's footsie one hundred

closed down also by roughly a point for a look at market health and more we are pleased to be joined by john gray's the founder and president of investors financial corp hey john welcome thank you so much for being here they're going to be fun what's driving these global markets do you think. hey john can you hear me what's driving these global markets well interest rates for sure cheap credit for sure the quantitative easing is put.