and a turn from talks to more tariffs in the u.s. china trade relationship leads our global report today as china retaliates with their own levies on $60000000000.00 worth of u.s. exports to china the list of china's targets for new tariffs of 25 percent matching the new level of the trump terrace from last friday includes nearly $2500.00 items while u.s. president donald trump seemed to claim on twitter that chinese tears would not or should not increase prices for u.s. consumers white house economic spokesperson larry kudlow notably one off message in a television interview both sides will suffer from the latest trend toward more terrorists mr kudlow conceded now for a more in-depth look at the current trans-pacific trades also we are joined by our correspondent alex milledge from toronto alex welcome. thank you. alex 1st of all china's heading back heading back big what's the latest. as you

mentioned 60000000000 in tariffs as of retaliatory measure for the 200000000000 the u.s. put up against china when you break it down we're looking at terrorist between 5 and 25 percent on everything from spinach to batteries that are supposed to kick in on june the 1st let's be frank when you have 2 countries of this magnitude these economies 2 of the biggest in the in the world we're going to see ripples throughout the world economy beyond these 2 nations so simply put this isn't good use but as we mentioned the last time we spoke about this this isn't quite over or even president trump of said these talks are ongoing so we might see some movement in the next couple weeks simply because we're getting to a stage that you know when you're pumping these tariffs up higher and higher it's not good for anyone and you know terms of impact here we know donald trump is looking very carefully at some of the impact on farmers who are a lot of us ag exports go to china an ally. those those farmers are

a key political constituency as well for donald trump it looks like donald trump's idea to blunt the effects of chinese tariffs is to sort of buy up the food buy up some of these at will add products i should say not all of it is food for humans but buy up some of these products and ship it elsewhere what's one of the details on that is going to work. yeah hello this is everybody so everybody trying to make this sound like a humanitarian effort to feed the world the fact of the matter is you have to feed your farmers 1st and that's why you want 15000000000 dollars going to u.s. farmers to help them out during these this time of need during a trade war this is going to be added to another $12000000.00 that's a ready or so i should say $12000000000.00 so we're looking at 15000000000 on top of another 12000000000 that's already been put aside for this so let's feed the u.s. farmers that's number one it's costing u.s. taxpayers look at who is going to be big for us farmers is going to be u.s. taxpayers just as they're paying for these tariffs anything comes from china it's the u.s. taxpayer that is paying for it we heard last week at those numbers going up anywhere

between 500 and now i'm hearing $800.00 per u.s. family it costs going up because of this trade war now the flip side of this is what donald trump is trying to say here's a tweet from donald trump. tariffs will bring in far more wealth to our country then even a phenomenal deal and the traditional kind also much easier and quicker to do our farmers will do better faster and starving nations can now be helped waivers on some products will be guaranteed our story granted or go to new source so i had a bit of a time reading that because i just couldn't it's written anywhere you look at it though the u.s. government say that agricultural products will be bought the by the by the american government and said to these countries need now this is what donald trump is saying i should say the u.s. government this is a pretty difficult thing to do there's a whole bunch of hoops that you have to jump through to make this actually happen a

b donald trump has said in the past you know what i'm not a big fan of these programs that we have that feed the other parts of the world so i don't know how this actually comes into play or passes the litmus test because he's basically going against what he said in the past and also as you mentioned off the top a lot of this food is not slated. for human consumption it's for livestock so you're kind of stuck between a rock and a hard place here can this really happen not very likely and at the same time you're going to have a lot of stuff a whole billions of dollars worth of stuff that should be exported sitting around how they're going to move this product what are it was the u.s. government going to do maybe nothing maybe they won't have to do anything because maybe they'll come to a deal with china before we really get to that sticky situation that's very interesting there in the tweet he seems to say that u.s. farmers are just better off with the tariffs than even the best deal with china so if that's the case what was the point here of this months long process why didn't

you just do the terrorists to begin with if that was always the better option for the u.s. economy and for farmers. anyway maybe maybe maybe maybe we shouldn't delve too deeply into twitter for answers but our t. correspondent alex a meal that's always brings insight from toronto thanks for joining us. thank you for having me. and the quake of the new terrace has moved markets around the world causing mounting issues here to give another perspective and break down even further is tom gandalf the founder and c.e.o. of 3 bridges financial group tom welcome to the show. good afternoon now again let's get a glance at the markets what's been the reaction here the dow jones i know is down more than 500 points today i believe that's the worst day for the dow this year how are markets reacting and what can we expect going forward this week. but it was definitely a rough day in the markets and. it's no secret that wall street is not

a fan of trump's terror fala sees so the reaction we saw was really to be expected but i would challenge and consider that this may have been an overreaction there will be difficulties if the trade deal doesn't get done but the difficulty is what necessarily affect every sector of the market and really everything was said today . now what about specifically agriculture you know there is this bottleneck you know even if you bought some of the surplus agricultural supply that's not going to china and call it food aid a lot of it is for animals you can't just necessarily take this soil meal or make a meal out of for a person what is what is the long lingering effect for agriculture markets here. long term i think that the farmers will certainly benefit if the deal gets done the program that trungpa suggested with the buying the products and shipping them to needy countries or whatever that's that's fine is

a band-aid i believe i don't think it's a long term solution and i think it probably suggests that long term the administration feels that a deal will get done what china. so you know you think a deal will get done but for now what do you think brought us to this point of apparent failure where the talks are not just moving they are moving backwards and they're actually. the threats. well certainly the terms of the deal from a financial perspective are important but really what we're looking at here is there is a systematic any cultural difference between china and the u.s. and the u.s. economy is one that's built upon capitalism and it's dominated by private business on the other hand the chinese economy is a state run economy and it's veiled in protectionism so we've got doing cultures doing systems and i think really that's probably at the root of the struggles and the challenges you heard last week that the administration suggested that perhaps china backtracked or reneged on some of the agreements that had been made

previously and i think that as information flows i think we'll find out that probably some of the agreements are just not acceptable within china's political system which makes this a tough road to hoe. and know that china has retaliated we see you know larry kudlow as we mentioned sort of conceding going off message from the president conceding that there will be both sides u.s. and china will feel pain from this fight are there any winners here we assume that the u.s. and china will both feel some pain who is poised now i guess to more specifically to take up the chinese role. or perhaps the u.s. role of exporting to china of the chinese role in exporting the united states if these tensions escalate. well there's quite a bit to unpack there but i think 1st of all. your initial question there's probably not any short term winners in the trade war we've seen over and over again the trade wars don't really do

a whole lot of good in short term however. the deal that's in place or the lack of a deal that's in place i should say between the u.s. and china right now is very one sided and ultimately of something gets done that's a little bit more even keeled i think that there could be winners and losers in the trade deal. of this began back in 2017 november 27th and in fact when trying to gauge with india and japan with. trilateral series of meetings that he did and i think some of the foundation for this was originally set back then i would expect that if this trade work continues to drag on and agreement is not made i think that companies wall that we wind up shifting production if it's too expensive to do business in china they'll look at other options such as india the philippines south korea vietnam i think that that ultimately this will work itself out in the market will. certainly satisfy whatever needs it has i think it

would be best if it winds up being a deal that's worked out between the u.s. and china but if it doesn't happen that way there are other possibilities it's interesting multi-polar world we're seeing develop tom gandalf the c.e.o. and founder of 3 bridges financial group thanks so much for your insight. thanks for having me today. time now for a quick break but hang here because when we return big pharma is back under heavy fire as drug companies are facing heat for alleged price gouging molly barrows contributor to america's warrior one says the hand to step through the scandal and later the world of black chain is meeting in new york at the consensus conference and we are on the ground with our t.v. producer john brennan job or to bring a similar view inspiration from some of the top names and watching developments.

it's up to us to see on his attorney one name for you. on one food goes a little. bit more which. is a rule if they give it to you they go to the guys who know people you see opposed to it's been made we could see that it was good. that's the ticket. if. that's the finish that you give us. we've got an amazing situation developing here in america one of our politicians has it openly admitted to congress that the u.s. dollar is that spread from because i.

would hope to. put themselves on the line to get accepted or rejected. so when you want to be president and she. wanted. to go on the beach for us this is what the 43 in the morning can't be good. i'm interested always in the waters in the. first city. welcome back the energy minister of saudi arabia says that 2 saudi oil tankers came under attack near the strait of hormuz the minister says the attack occurred off the coast of one of the united arab emirates oil prices spiked briefly on the news

of the alleged attack the saudi foreign minister said the attack presented a quote dangerous threat to the safety and navigation and effects negatively regional and international security the saudi energy minister claimed that in addition to damage from choo choo ships from a direct attack to other ships or damaged by what saudi officials claimed was sabotage security officials from the united arab emirates say they will not name a suspect until an investigation is completed iranian leaders called the attack a worrisome development and blamed the alleged incidents on quote groups whose interests lay in making the region and secure. in pakistan the government of prime minister imran khan has reached an agreement on terms for a $6000000000.00 loan from the international monetary fund the pakistani leader is seeking help and tell me economic troubles that include a precarious shortage of foreign exchange and forced currency devaluations that

have a race 20 percent of the rupees value over the past 12 months mr khan rebooted his economic team before the i m f agreement was reached among the changes the leader seems to have made to secure the 8 is the installation of reza but here a former high level i am a bureaucrat as governor of pakistan central bank now the i.m.f. says the delivery of the promised aid will be quote subject to time the implementation of prior actions and confirmation of international partners as financial commitments but the substance and status of pakistan's previous commitments to the i.m.f. are unclear opposition parties in pakistan have demanded briefings on the terms of the i.m.f. agreement. and nearly every state in the united states is now part of a lawsuit filed against leading drug. he's over alleged over an alleged price fixing scheme state prosecutors say the company's inflated generic drug prices by as much as 1000 percent legal journalist molly barrows contributor to america's lawyer has more. just to quickly which companies are involved in this lawsuit

sounds big. yes hi daniel there are a number of companies involved and just to name a few t.v. pfizer novartis and milan mylan rather all queues of an industry wide scheme that prosecutors say affected the prices of more than 100 generic drugs some of those drugs include ones to treat hiv asthma cancer contraceptives as well as antidepressants so $44.00 states are part of the sausage and here's how attorneys general say this game worked the states allege that dozens of these generic drug companies as well as specific individuals executives and sales marketing and pricing deliberately avoided written records of their price fixing plans so they wouldn't get caught in what prosecutors say was a scheme that they knew was illegal and stead the lawsuit says the exacts made their plans to gather at industry networking events like meals parties other outings and as a result they basically divvied up the market agreed on prices and started raising

them on generic drugs sometimes as much as a 1000 percent so these competitors allegedly had an agreement to cooperate so they could quote get their fair share of the market and that's according to the lawsuit daniel and according to the lawsuit from the state how long has this been going on . you know about a year and a half so they say most of the efforts went on from july 2013 to january 2015 they say that's when tiva raise prices on many of those generic drugs that we mentioned a few earlier and that the companies were working together to raise these prices on as many drugs as possible so tiva pharmaceuticals usa is mentioned a lot seems to bear the brunt of the complaints in the complaint but it also points out that this game was pervasive in. industry wide and as i mentioned earlier a number of executives are also individually mentioned in the lawsuit for this kind of behavior tiva for its part denies these accusations says that it would not engage in this kind of conduct but since that lawsuit was filed last week the new

york stock exchange shows tiva stock daniel has dropped more than 15 percent in the israeli drug maker is one of the world's largest manufacturers of generic medicines and you know when you talk about spur of a sort of and systemic abuses here what was the effect then for consumers on the when they go to the drug counter. well to a great extent some of these prosecutors are saying it's just outright cruel that a lot of these people were paying for medications that were actually helping them and then it was priced out of their reach so t.v. for example criticized last year for charging more than $18000.00 for a bottle of $100.00 pills for a rare medical condition known as wilson disease milan also generated some criticism for raising the price of a 2 injection epi-pen from $100.00 bucks to $600.00 so this lawsuit comes as drug companies are already facing widespread scrutiny from lawmakers especially when they're dealing with issues and problems with health care plan states as well as federal they say this not only hurts the individual but it's also hurting basically

states across the country as well as the federal government and the economy where these state health care plans and these federal health care programs are impacted by these prices rising they're also calling it a violation of antitrust laws and again going back to how it's hurting the national economy by hurting state and federal health care plans which as you know it's certainly been in the news a lot of how we're going to address that and drug prices are a big part of that problem people need it they can't afford it some cut some cases they're choosing between their utility bills and their drugs in some terrible choices being imposed on on american consumers for life saving products here you know pretty good at sizing up these cases when they come along as a separate legal observer since they don't have records in this case they must have to rely on one witness statement saying that. and what does the case look like just quickly here what do you think the prospects are for these states and attorneys general succeeding with this to. well it seems to be that they must be pretty confident again the climate is right this comes on the heels of another lawsuit

that's been filed by other states attorneys general in order going after you know various problems of this there are similar to this whether it's a price fixing scale or you know other medical companies that are not cooperating to bring prices down for consumers so it's going to be interesting to see where it goes but i can't imagine 44 states would pursue something that didn't have at least a possibility of settling very interesting we'll keep an eye on it molly barrows contributor america's lawyer thanks for joining us. thanks daniel. and we talk very often on this program about block chain and its many potential uses well this week consensus 2019 kicked off in the big apple new york city and boom bust is on the ground to cover it the crypto winter is over and that could mean huge gains for bitcoin in the future our chief brant bore spoke with fred shabazz co-founder of hijacks dot com to discuss the crypto spring and the trouble

crypto traders face with financial institutions. the market sort of boring as well so it's pretty a lot of activity as well interesting dynamics around how you know i think coins are launching with them raising money so we're going to get into that i think is a lot of interesting things in terms of some of the projects they've been building for a long time in terms of what they're actually delivering now and i think that's really interesting and i'm really going to get into that and you were talking about the market kind of thaw out right now. as people who follow the cryptocurrency world know we just came through crypto winter and now we're in a crypto spring you're seeing that point back up over 6000 obviously the most well known cryptocurrency why are we seeing that what is the future right now i think we're a very depressed you know we were we were right down there i think you know everyone had sold out basically and then it sort of was left with people who are just not interested in selling and then you get the sort of everyday usage of people using

it for certain things and i think that's what started to. gain and then to grow back then people started going all this is not going to die it's going to continue on i think that's what's sort of saying what also happened is a lot of the alternative coins have sort of i would say they're relatively repressed to compared to be calling because. right now which is massive compared to you know it's only a little bit lower than that and so those coins. you could see a rise and a lot of people looking at those things like. you know. things like that the coins nearby we're also seeing a lot of still activity around the stable coin. market and that's it that's very interesting some of the sale coins are actually under priced and now this is a come back up to being to parity which is always very interesting that dynamic between you know stable coins and. i would i would say that you know we cracked the 7300 mark we when. we touch 7500 i think 8000 is that next to the

big number i think that's a really really interesting if you go to up to 8000 i think it easy get a 10 are we going to see another time when we're at 20000 again i think we will do it and started are up but do you think that we will see a time when it's at 20000 and it will stay stable at 20000 not not go hit that mark again and then we see a plummet i think you're going to see only because it's always going to shoot up and then pull back and shoot up and it's a new currency to new coin right you know it's 10 years old took a long time for stocks in the stock market to get that instability and even forex markets took a long time for that to get that stability as well and because there are different it's going to keep if you look at high levels through without it just keep having these big waves so you think a long time before all the coins in mind and then once is less coins coming out i think that is going to start to see the range and volatility start to decrease a little bit and then you know. if you go to 20000 we're going to go way.

like like shoot way past and then pull back i don't know where we're back to i don't think we're going to see like 3000 a long time one of your big things is making sure that people in the cryptocurrency . because banking such a hard issue with kind of that it's on regular but there are. portions of it what are what are people facing when it comes to being d.-bag and having proper banking services in the crypto currency market yes i guess a lot of banks feel. a lot of risk in taking on clients that are using their bank account for to currency. transactions and because of that what's what's sort of happening is they get there can't suddenly close down. and this is happening a lot all around the world so what we've been doing is providing bank accounts you know i've been working with a bank in this rather small bank and they've been basically banking people helping them get currency accounts and one of these once once they have that they've been sort of checked invalidated they have it so the process is actually

a very very low you know fraud and all this kind of stuff actually it's actually quite stable in compared to a lot of the systems of the banking you know credit cards like you know they're the ones that look pretty much getting attacked all the time but actually the amount of work now and regulation that's in front of a critter currency exchange means that the people have to get id and even before they get through doing any sort of banking they've been checked entirely way more than a bank would you know it's i think it's easy to get a bank account than it is to get on the proper currency exchange these days. and because of that what we're actually seeing is that the actual fraud rates are actually quite low but it's just people don't understand how to deal with crypto currency they just see that word currency and i mean the inside of bank is probably you know an internal memo that says close that account and so now that you're seeing a little bit of success because you're working with australia big on this are you seeing more banks being open to the idea of opening these accounts for cryptic or

are people dealing with that no i don't think so that definitely in fact they're still closing down more accounts is right now and we're seeing that demand is still quite strong. there are some banks in the united states that are actually getting friendly there also there's actually a few in in europe but not in the u.k. and so it makes it very difficult. what's your alternative so if you want to deal with the trial in dollars then you know there's only really. i'm going to go to. i mean what is the future there you know i mean as we talked about earlier the volatility of the crypto market well if people have bank accounts i mean it's not going to be able to keep a stable market right well i think that's why there's also before the thing stable coins have dramatically taken off the market cap of those has been massively increased and we're seeing a lot of clients actually go through and buy stable coins all the time we don't usually write it wasn't as much of a thing before you'd always sort of stain because but then what it also means is

that when people got so many you know stable coins banked up they could very quickly buy be quiet and so the movement of big and the price moves could be even more violent because you could just one click go straight through you have to wait for a bank to transfer money and the exchange to approve it is just sitting on the sidelines so there's huge amounts of money just waiting to just jump back in and that's why i think you can see a meteorite rise coming. and that's it for today's show see you next time.

play. play. lists

lists lists. lists. playing. and very well might continue watching us in such. in 2040 you know bloody revolution here to the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it still or here i mean your list put me in the new bill is that i mean you split needle the former ukrainian president recalls the events of 2014. those who took part in this to do over $5000000000.00 to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. you

know world big part of the law 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 back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks. i think they're saying i'm. not getting nothing.

but. you're looking at it you know it's not about. that if the details of the u.s. secretary of state might. pompei on russia's foreign minister sergey lavrov to sochi with a number of pressing global issues seemingly results. in this way the presence of u.s. police raid on his home mc in d.c. a violation of international law with activists in the compound saying they are all trying to prevent an illegal takeover and u.s. military school publishes a decades long history of washington's interventions in other countries dubbed by some as a guide.