edward alden, thank you very much. aie administration says that china is trying toain a permanent and unfair advantage. china protects its companies in many sectors, especially high tech, china forces the u.s. companies to give some of its formation to china. so doesn't the administration have a point? >> no que, stion. i me you look at a doment that the u.s. trde representative office put together, the heart of this investigation, it makes a compelling case on all of these. u.s. companies that are trying ko invest in china have to wor with joint venture partners. they are often forced to transfer their best technologies to their partners. the chinese use licensing and other regulatory discrimination to make it ha.d for u.s companies to operate freely in the chinese market. china has a very restrictive investment regime, which is intended to help its companiese get thext leg up in terms of the technologies of the future. >> schifrin: is your notion that the means by which the u.s. is addressing that is lesefs ctive tha

edward alden at the council on foreign relations owns the franchise of clear thinking on trades.es over the last notes. mr. purcell he is with us. porcelli is with us. complexlassic microeconomics of trade. all you need to know on tv and lossess -- dead weight make things difficult for common sense. what is the dead weight loss to president trump from these actions? ted: that is a great question. i do not think we know the exact economic numbers yet, but they will be big losses in a lot of states he cares about. if you look at the retaliation measures from europe, canada, and mexico, they are aimed at the states that voted for trump. you will have manufacturers in those places that are steel and aluminum buyers. they will hurt. even had the steel workers saying don't go after the canadians. they are our friends. he is pretty isolated on this. he has picked a fight with a lot of different people, including his republican allies in congress. tom: what do the republicans need to do? one at the hoover institution, they agree completely polarized that this is bad policy. what do ratio

and edward alden a senior fellow at the council on foreign relations. thank you for joining us. edward, i will start with you. if these are the first shots iron and an official trade war, what comes next? stepsstill have a couple to go before the tariffs actually get imposed. will july 6, 25% tariffs total about $36 billion will be imposed. round.ill be a second the chinese that they will attract exactly in kind. the president is missing to then escalate further. i think we could be at the opening of a real escalating trade conflict between the u.s. and china. i hesitate to use the term trade war, but i think we are actually in one right now. would you agree and how rough is the right going to be? >> i would agree. in addition to what is artie been said, the u.s. trade representative talked about the steps placed on china and the united states. their been talk on these restrictions. it will get worse before it gets better, surely. emily: if it gets worse before it gets better, what is next? how does it play out? ward: the trump administration does unexpected things. conflict, tru

haidi: always a pleasure, edward alden, senior fellow from washington, dc.on are interactive tv function. you can find us at tv . you can watch us live and catch up on previous interviews and dive into any of the securities or bloomberg functions we talk about. you can become part of the conversation, send us messages, questions. this is floomberg subscribers only. check it out at tv . this is bloomberg. ♪ this is bloomberg. ♪ back with bloomberg markets in hong kong. i'm rishaad salamat. haidi: i am haidi lun in sydney. theh32 has agreed to buy remainder of arizona ming at a 50% premium for the canadian last closing price. the australian miner holds a 17% stake. u.s.,fer is $1.3 billion the total equity $1.6 billion. directors and other offices of there is a map mining -- of arizona mining say they will vote in favor. rishaad: china's top leaders have agreed to help hna group to raise funds, following a meeting last week in which the senior pboc official, regulators and others. energy support the future bond issues, could provide a safety net for th