one of the trump trade wars leads our global report today as u.s. president threatens to impose tariffs as high as 25 percent on imports from mexico president announced this latest surprise on twitter thursday evening saying the u.s. would impose tariffs of 5 percent on mexican imports starting june 10th and increase them until the lead illegal immigration problem is remedied a later white house statement said the terrace would increase to temper sent on july 1st and by another 5 percent each month after up to 25 percent until mexico complies with u.s. demands on immigration but neither mr trollop not the one nor the white house cited any specific actions mexico must take trump latest threat came even as administration is trying to pass a new nafta on the same day that mexican president andres manuel lopez obrador said he would officially introduce the revised trade treaty to the mexican congress and the day after canada's foreign minister made a similar move the prospects for passing the u.s. and ca have been even further and both and y s e n. s. and p.

500 opened down on the news. so danno this came as a total shock to the markets and furthermore this is actually a very bad faith to be negotiating a tree with mexico and then turn around and when it looks like the tree is about to close just slap them in the face with some tax like it looks like this entire thing was negotiated on bad faith that is a violation of trust and this is a theme that we've talked about before in relation to the china trade talks this is not anything that any textbook on negotiation would tell you in terms of an international trade agreement on the day that the agreement is introduced in your 2 partner countries and mexico and canada for ratification then you introduce this irritant at the very least in relationship now the new nafta seems to be. the prospects for it seem vanishing to none. house speaker nancy pelosi on that same day a very eventful day said that she would put a hold on a vote on the u.s.

embassy until she got some of the commitments she wanted in terms of labor rights in the agreement and that would have actually required possibly renegotiating it even before the u.s. embassy was in real trouble and now it seems like there is really very little chance and furthermore this sets a really bad precedent because in the u.s. china trade agreements china just looks at this and it's like hey you're also trying to do a treaty with us what's to stop you from turning around after everything's signed into slapping us with more tariffs sure even if an agreement is reached under this administration you have to wonder what agreements are worth exactly so it's a tall violation of trust at this point. and here to help us break down how the tears are going to impact the auto industry we're happy to welcome back lauren fix the car coach lauren welcome back there's a lot to catch up on here but 1st i have to ask you about the trump terror threat against mexico mr trump reference specifically the auto industry this morning saying in order not to pay tariffs if they start rising companies will leave mexico

which has taken 30 percent of our own. auto industry and come back home to the usa sounds pretty simple turf in mexico will bring all the jobs back to the u.s. what could possibly go wrong lauren. well i mean i'm not going to get into the political aspects of this because i'm just going to cover the auto industry so you're talking about $93000000000.00 of industry that is currently in mexico that is a lot of money and that's lost income from people here in the u.s. it's jobs so you're talking about the unions they want the jobs back in the u.s. the manufacturers want them of course in mexico because it's substantially less expensive and that's where their profit margin is right there saving money not having to worry about retirement accounts health insurance all that's gone when you're having your cars built in another country that's one factor that is going to impact auto manufacturers the other factors a lot of components go back and forth across the border about 20 times so you're

talking about something that's produced in mexico sent back over the u.s. assembled into a component then shipped back across the country into war the plants where they build the cars and some of them then the vehicles are shipped back across so there could potentially be a tariff every time it goes back and forth that's something to keep in mind that could impact the total price of vehicles however there's a lot of other factors in this you have to remember that when there's profit margin and it's bigger no matter where they're saving their money and where they're spending their money that means that manufacturers have more money to spend in accounting firms financial firms marketing companies experience all marketing whatever that might be so if they've got less money to spend they're going to cut back so that could impact other avenues of the automotive industry because about half of the dow jones is impacted by the auto industry so that's why you're seeing the stocks close down today now the other factor to consider is the cars that are being built in mexico are only certain types from certain brands it's mostly going to hurt ram truck chevy silverado g.m.c.

sierra. jetta the mile. 3 and a couple other cars for the most part a lot of vehicles are being built here in the u.s. and a lot of the german manufacturers already know that except for out who's already building in mexico so those particular vehicles are going to be impacted not the full lineup of every single vehicle i will tell you all over that there's a lot of some companies such as goodyear tire delphi. and i got this magna lear they produce product also in mexico and so that could have a pet component parts but the bottom line is you're going to see the auto industry softening anyhow we're looking at may expectations for sales to be on the softer side it's not going to help that prices are going to go up on 2020 models that are being produced today it's the 29 teams that are on the lot today you probably get some great deals so should be in the month end of the model year where you're going to see is possibly even 5 percent where you're really going to see the hurt is if in october we still haven't agreed to anything and this tariff goes into play 25

percent on the cost of a vehicle is a lot of money that will impact everybody that's going to impact jobs and all the some companies that supply components and services to the auto industry that's where you're really going to see the biggest impact to the auto industry so keep this in mind right now it seems to me that there's a lot of pushback from mexican government a lot of pushback from people within the administration and of course the auto industry let's see if it opens conversations with mexico to do whatever it is that the president wants to do i'm not going to get involved in the the border situation but if that's what it causes someone to pay attention i think he did a good job in doing that. lauren some of the reputable analysts are saying that this makes passing the new nafta the u.s.m.c. a virtually impossible and the prospects were maybe 5050 at best before all of this threat so if the u.s. and ca is a dead letter does the status quo ante prevail or is there no going back to the old normal now that the past in the current u.s.

commitments on trade are still all up in the air as long as mr trump is in the white house. well i don't think this is what's really important right now we've got an agreement in place that vice president pence signed with canada yesterday we need to have his signature with mexico and right now we're not going to sign anything with mexico until they make an agreement to do whatever it is president trump wants beyond that congress is not willing to pass it in both houses and until that's going to happen it makes no sense to put that bill up for a conversation or to potentially be passed as you see that nancy pelosi is saying that she's not going to do it unless she gets some other concessions once the deal's already been. he's changing the position and that's going to change the deal so unless we can make the deal go as it was originally agreed there's going to be changes but that's part of government and politics in general there's constant flux constant changes and we all speak for the narrative of the day and yeah you had some very interesting specifics lauren about specific models and specific makers with these binational arrangements but more generally automakers reported importing

almost 60 $1000000000.00 in u.s. automakers imported $60000000000.00 worth of parts from mexico in 201816 percent of all their parts going into the u.s. if what would be the effect on the market just if the minimal 5 percent tariff were to go into effect. well they're obviously going to increase their prices some of it will be absorbed some little be passed along to the consumer eventually in the end how much is that in the big picture you can't just take the whole $60000000000.00 and add 5 percent it's easy to do basic math but you have to look at each component when it's coming in when it's ordered and there are also possibilities that manufacturers will just find another supplier whether that be out of india or pakistan or sri lanka we've seen a lot of different countries supplying content so they might to ship suppliers and it would hurt mexico larn back the car crash thank you so much for your time. thank you. documents introduced by federal prosecutors indicate the president won or

linda hernandez of 100 s. was investigated by the u.s. drug enforcement administration in 2013 the documents were introduced in pretrial motions in the case of the president's brother tony hernandez who was charged with importing tons of cocaine into the united states prosecutors placed in the record in july 2015 petition to the court for access to e-mail account information from the president his sister and key political allies the document says he can't use it for suspected by the d.e.a.'s quote large scale drug trafficking and money laundering activities relating to the importation of cocaine into the united states . president clinton took to power for a 2nd term after claiming a win in the highly suspect 2017 election that the organization of the american states so it was plagued by apparent fraud. it's been a volatile week as markets reacted to the increasingly hostile landscape but some markets did better than others let's start off in moscow with the molex the most

was up again this week for the month the moas come 4.3 percent as the ruble in oil prices strengthened ahead of the renewed u.s. sanctions on iran exports moving over to asia asia was a tad mixed chinese officials stepped in to calm down the markets on tuesday with an easing in china's fiscal and monetary policies beijing reassure that they will take countercyclical measures to fully heads the negative impacts in addition the markets also saw an influx of foreign investments this week by over a $1000000000.00 worth of shares leading the shanghai index higher by 1.7 percent for the week over and in japan with the nikkei trump concluded his 4 day visit this week in an ever attempt to strike a trade deal in asia threaten japan with tariffs on auto and agriculture exports wanting to move quickly but prime minister shinzo does not expect the deal to close so soon the nikkei is down over a little over 2 percent for the week while the hong kong also followed. moving over

to india the sensex is still riding the euphoria of prime minister modi's reelection and is now trading at an all time high down in australia the a.s.x. is down on global weakness in the commodity sectors mining and energy sectors were hit especially hard with majors like rio tend to be and santos driving the local markets down however rare earth miners linus corp shot up after china threatened to cut exports and it's now back to its all time 5 year highs moving over finally to south africa the all shares index ended the week up as the markets cheered with approval of the newly appointed cabinet members and the rand strong. against the dollar a lot of countries are proving to be more resilient in the midst of all the drama taking center stage now over to daniel your kristie it's a down down week as we go from europe to south america and then north america starting in france the cac down for the week french carmaker renault leading the losses there their stock notably down 4 and

a half percent this week in germany the dax also down about one and a half percent on friday to close the week and in the u.k. the footsie also down completing that trifecta of red arrows for europe better results this week in south america 1st in colombia the cold is up sharply this week similarly in brazil the eyeball the us will also up strongly started just below 94000 at the week closing above 97000 and flipping back to the previous trend in north america all red arrows to some p. and y. of c. and nasdaq all down for the week and want to see an s. and p. notably opening sharply down this morning on the news of the latest trump terror threats and finally we go to toronto where the t.s.a. is down for the week and that is your global market wrap. time now for a quick pas by here because when we come back u.s. markets aren't the only once again he has market a profit. on the tariff turmoil. trading joins the program. and as we get

a break here the numbers that. i. was. calling the question is magic internet the new type of digital currency the centralized digital scarcity chancellor. 2nd for a bank that's called the genesis block for a reason to calling it civil disobedience a source of optimism because i can control my own financial destiny it's just a new way of coming to consensus it's a game changer in the human history this is columbus discovering a new world this paradigm shifting technology to the max and stacey.

european governments specially the germans and the french and the britons they really want to help you on economically they have no control over their private sector and their private sectors if they have to choose between the brawny and market forces the u.s. market again you don't have to be an economic genius to figure out that they would go with the u.s. markets. this footage is unique because the zoe tribal lands are normally off limits to the public erik's allowed in because he's always personal don't.

people here know him simply as dr erik he's rich famous some always on the move saving yachts and flying aircraft that. he's considered one of the best neurosurgeons in brazil. that's happened. already so slow. going to busy doing nothing is going to do the population because it's going to people. yes. the china u.s. trade war is escalating further as both sides upped the stakes the u.s.

is raising pressure on its western allies to pick a side secretary of state mike pompei on his european tour stop in germany and warned that countries using fall way to build their telecom infrastructure will be cut off from crucial intelligence data germany along with britain and france has so far declined calls to ban huawei ties with germany are strained as the u.s. and germany clashed over a host of issues from trade to military spending pompei a reiterated his warning that while countries would take a sovereign decision on which equipment to use that decision will have consequences as the u.s. tries to bolster its position china is retaliating against the hallway blacklist with a list of their own china announced a list of unreliable entities that damages the interests of domestic companies this is weeping order could potentially affect thousands of foreign firms and while no specifics are released yet the markets are reacting u.s. companies are counting on china for a major part of their growth are now have targets on their backs there is

a lot at stake as china is the fastest growing consumer market in the world many american companies have heavy exposure in asia including obviously apple qualcomm broadcom and microsoft let's look at some of the others though a big portion of nike's revenues come from china in fact china makes up the majority of their growth story disney's marvel entertainment invested heavily in china as you grow their brands of vendors and game generated chinese ticket sales of more than 600000000 the auto industry is also targeted as ford and g.m. attribute half their sales to china trust between us and china is running low and a new round of tip for tat is going into. fact. it is g.d.p. grew 5.8 percent in the 1st quarter surrendering its title as the world's fastest growing economy to china which grew at 6.4 percent finance secretary some regard so this has been primarily due to weak consumption demand and private investments this slowdown made lead to another interest rate cut by the central bank in his june

policy review the r.b.i. has monetary policy committee is expected to also cut the repo rate by another $25.00 basis points it is june meeting to bring it to 5.75 percent the lowest since 2010 and you know an employment rose to 6 point one percent in the 28000 fiscal year making it the highest level in at least 45 years this has been a major issue during the national actions but the finance ministry defends their record unemployment climbing with them is not comparable to previous years data as they used a new methodology for the survey. the global equities market is being whiplash as the trade war escalates now it isn't just the us versus china but it's also us versus japan versus mexico this tit for tat tariffs and threats of non-tariff a tally issue will only slow economic growth down consumer confidence and the real business investment joining us now to weigh in is danielle shea director of options at simpler trading welcome danielle so let's start off with the big big one the hit

list of unreliable foreign firms who do you think could be on this list. for me when i think about the way that president trump went after a while away and i try to put myself in their perspective i feel like they would want to really hit us where it hurts and if you look at our key stocks our market leaders i primarily think of the thing stocks of course you have facebook which is blocked in china so i can't do anything about that right netflix and google as well so that wouldn't really be very impactful obviously we know that apple has a huge you know position in china and they have. been impacting apple but i think the next one that's on that list is amazon if you think about amazon and the e-commerce business that they have particularly the competition that they have with ali baba i can see how it would make sense for china to come after amazon to further improve ali baba and i wonder danielle on the options markets are you

seeing any outsized puts being on place right now because a lot of these companies do have exposure and they will get hit once this list is released. oh definitely i mean amazon has gotten hit this week the majority of the stock market has of course and you know right now the main speculation is looking at these companies and which ones have the most chinese impact i think before we were focused on companies that were actually producing products in china particularly john deere and caterpillar but now that this new chinese hit list is coming out it really opens up the door to potentially impact and is on microsoft and some of our key companies that we really didn't think were going to be impacted previously a lot of these media companies are also portraying this as a us versus china battle but it seems that this is more of a trump administration battle that is not representative of america as a whole sentiment u.s. business groups are actually considering suing the white house of our comes new tariffs on mexico and this lawsuit could mark

a major escalation in the opposition to white house type of policy what can you tell us about that. well i have to agree with that because i mean the tariffs on china at the end of the day they're going to be passed on to american consumers especially the most recent round that is geared towards retail products particularly clothing i mean look at the retail apocalypse that we've seen with the malls in america over the course of the past few years i mean you have companies like j.c. penney is like macy's kohl's a little bit not as much as the other 2 and then. nordstrom's as well where you're seeing continuously falling stock prices and these names as millennial shifts towards differing brands like t.j. maxx ross and burlington but the problem here is that all of these companies they get their products from china and so they're all going to be impacted and while i see the big chain stores being impacted the worst the other ones are going

to be impacted as well the bargain retailers and like you mentioned nike also any company that's creating shoes in china they're going to be hurt as well and these tariffs are going to pass on higher prices to american consumers at the end of the day we're going to pay the bill and danielle taking another perspective on the u.s. china trade fight china has positioned itself to be a manufacturing powerhouse supplying finished goods or parts to other countries so along with stone walling american companies that want to sell in china china also could restrict crucial exports and refused to do business with american companies who rely on chinese manufacturers for certain inputs similar to what the u.s. is making google and qualcomm do you have a sense of which companies have the biggest exposure in terms of being reliance on x. on inputs from china. yes definitely i mean retail like i mentioned before particularly

shoes i mean nike you have foot locker you have crocs. under armor all of these companies are creating products in china and we're dependent on them you also have the additional problem of electronics so companies that are creating laptops cell phones and computers in china particularly like dell lenovo which are also impacted by the new tariffs on in mexico as well in the supply chains it's going to be a very wide breath of problems for american companies and consumers and you know the u.s. under trump appears to be picking fights on all busy sides with china would jump in now with mexico as a result of this the markets have taken a heavy specific hit on certain companies affected by this but also just the general uncertainty about the future geo political landscape on the big picture do you think those trade war can pull us in 2019 into

a global recession. so you know up until this week i was still pretty bullish on the market i felt like the president wanted to come to a quick resolution with china but with the escalation escalation that we've seen particularly with japan and mexico and the amount of products that are being impacted and potential talks in europe i mean this is going to send reverberating effects throughout the entire world in the economy of the united states if it is not fixed and yes if it continues to escalate it will absolutely send us into a recession so at this point i feel like the most important fact that we need to look for is that the president needs to come to some sort of resolution in the near term. it seems like a resolution is far off we are all looking at the g. 20 summit to be like the centerpiece for the resolution but now with this new escalation and with this conflict with japan it seems like that's almost improbable

right now. plea agreement that you. share the director of options that simply trading thank you so much for being here. thank you. and finally you can the things you find in a warehouse can be shocking this was the case in michigan following the passing of jeff beg a 73 year old businessman engineer in advance or who had amassed a collection of hundreds of vintage motorcycles cars machinery and parts following the death of his wife who was an avid e-bay enthusiastic bag started to use the site and beefed up his impressive collection which wyvil some museums during the 15 year period in which he bought the vehicles no one but bags assistant was in on his little secret no one in his family was even aware of his collection as his nephew and business partner were taking care of his affairs and found warehouses full of his winnings vendor brings auction house in springfield michigan will sell bags collection which includes $63.00. motorcycles 39 vintage midget and sprint race

cars and 70 exotic and american collector cars if you're interested the auction takes place on the 15th of june so kristie anything interest you there you think you might go to the auction or maybe send a representative i think this is a very happy surprise i mean like what are the chances that you just stumble onto this historic collection and really this is a really impressive collection this should actually be in a museum yeah yeah and it collector is now in the age of e bay if you really know your stuff you can and you have the money you can put together something very impressive we'll see how does it auction that's it for this time you can catch boom bust on direct t.v. channel through 21 dish network channel to 80 or streaming 247 on pluto t.v. every t.v. channel 132 dollars has up at youtube dot com 5. time. international

economic forum is a unique event in today's business world. over the last 21 years the forum has become a leading global platform for discussing the key economic issues facing russia emerging markets and the world thousands of business community members attend a forum to address today's vital issues. special forum coverage on r.t. . the. thing about capitalism is both do create companies they compete they make products fail some of them succeed there's a central bank there in case the banks go under as the lender of last resort and

that's the way it was designed. but now we're in a situation where the central banks become the 1st one.

let's just say. just. a very warm welcome to you you're watching us and. that was thank. god.

that. least 11 people were killed and 6 injured in a mass shooting in the u.s. state of virginia the gunman died in a shootout with police. and you are an expert on torture ses julian a song has been subjected to a good few main treatments that has taken a toll on the wiki leaks founder is a mental health. aide. looking through verse. that u.s.s. vincennes song sees the british foreign secretary go on an offensive calling for the u.n. to stand down and refrain from making inflammatory remarks. the u.s. really bruns it shale guy.