because u.s. banks were unwilling to convert the funds, despite requests from the obama administration, ultimately the bank of moscot was unable to affect wait the conversation using the u.s. dollar. the u.s. state department said that they converted it into euros using european banks. the only reason the transaction wasn't executed is because the two u.s. banks refused dpite pressure even though the dmims asked them to help -- administration asked them to convert the money. after the treasury department issued the license, the obama administration maintained the false notion that it had not provided iran access to the u.s. financial system. on april 5, 2016, ambassador thomas shoon said, there is no exchange of dollarse the u.s. financial system. we have not allowed an access to our larger financial system. end quote. on may 25, 2016, the acting under secretary of treasury for terrorism and financial intelligence said, quote, buty y what i said here today and i know he was looking forward to me b

it would be bad for u.s. consumers and bad for u.s. business the u.s. sells lots of airplanes to china and has the capacity to sell more. if the chinese stopped that, that would be disastrous for boeing and other aerospace manufacturers in the united states there's talk about apple you mentioned it in your preamble this morning. it's not good for apple because the chinese could stop the sale of apple phones in china, cha would be a disaster for the apple company. >> want to wrap it up with this. you made your fortune by thinking outside the box give viewers and listeners in the u.s. and around the world an out of the box idea right now that you got given everything that's going on we're focused on trade and everything give us an out of the box idea >> in 20 or 30 years time the average human life expect santi will be 110 or 120, and people will no longer be frail in old age, they'll be welderly instead of elderly that will change many markets and many things in the structure of our lives that's got to be great news for us all >> investing in aging. jim

u.s. tariffs on european meso are in place and more tariffs on cars might be on the way america's love affair with german casts a vive washington's new round of tariffs on imported steel. also coming out u.s. soybean farmers here a worse thing in the u.s. china trade relations but will that worries be good in washington. also in the so dollars a bag is being dealt another blow in the u.s. now for a banking authority calls a. troubled s. and p. downgrade germany's biggest lender to triple b. plus states. welcome to do business i'm. in for a little as for many months we've been talking about a looming trade war between the u.s. and the e.u. well it's not moving any more the first volley has been fired as upset today u.s. tariffs on european steel are in place the e.u. mites now retaliate in a further escalation us president now this is discussing to slap tariffs on german cars too he says there are too many of them on the roads of america and too little u.s. cars in germany but do merican dr

u.s. says sweeping tower of steel an alibi will take effect on friday. there could be nothing short of tragic to let this opportunity go to waste. first talks in new york and now a top north korean official is heading for washington bearing a letter from kim jong un to president trump. also the security council a warning for south sudan sanctions are coming if the fighting doesn't stop. and did italy the political deadlock appears to be over with a populist government set to be sworn in very. welcome to the news of the united states is imposing steel and alan minium tariffs on the european union canada and mexico stoking fears of a global trade war now the trumpet ministration claims the move is justified saying reliance on imported metals is a threat to national security but its targets are some of america's closest allies and their threatening retaliation french president called the u.s. action illegal his foreign minister says america first is becoming america alone mexico's economy min

of course, the u.s. has its own issues. the u.s. will have a midterm election coming soon so politicians need to do something in order to win the election. wiinistration there are personnel changes. you know that better than i do. it turns out that the hardliners are now taking more important positions whereas the pro-trade officials either left voluntarily or involuntarily. so now let me focus on the factors for the process of trade imbalance between china and the u.s. if you look at the overall balance of payment that is one person desk -- that is 1.4% of the gdp from last year. on a bilateral basis china's trade surplus of the overall trade deficit. this is greater -- the largest partners combined. mexico is number two malaysia is number nine but all of these account for 44% of the u.s. trade deficit. politicians will definite pick up china to reduce the surplus against me. i think there are a number of factors behind the bilateral trade imbalances. also the u.s. overall trade imbalance. one is the role of llar. this shows that b

u.s. president and north korean leader. a really you know a lot of progress. really very positively better than anybody could expect. amazing that many thought would never happen is addressing pyongyang's nuclear ambitions. i'm sam is a dan this is al jazeera live from doha also coming up stranded at sea hundreds of migrants who were rescued off the libyan coast find themselves with nowhere to go. and we meet the afghans walking a seven hundred kilometers for the message for their government. after eighteen months of trading insults and threats of nuclear annihilation donald trump and kim jong un have held face to face talks in singapore in the last few moments trump said the meeting went better than anybody could have expected but it's the first time a sitting u.s. president has met a north korean leader. really great to really take you to a lot of progress really very fatherly better than anybody expected comparable to. well i dream brown reports on a historic day that many people though

the u.s. tariffs. the president says he is ready to escalate the fight. it is just past 7:00 p.m. on a sunday year. opec facing a primary meeting indiana leading a rebellion against saudi and russian plans to pump more oil. not be dead just yet. why central banks are not ready to get out of the business. ♪ morning and good morning to all our viewers across the asia-pacific. it was definitely something to think about from what happened with china with retaliation of the 34 early dollars on u.s. goods and looking ahead to what is happening in opec news. first it was saudi arabia and russia saying that they wanted to pump more oil. iran, venezuela and iraq saying this is not going to be happening. we have a big week ahead of us in what is going on with the trade and commodity front. seeing for trade, we are these punches being thrown. is there room for negotiation? are we at a point of no return? with these tariffs are put in place, there is a little bit of wiggle room to iron out the differences

u.s. tariffs on european metal are in place we ask can america's love affair for a highly engineered german cost survive washington's new round of tariffs on imported steel also coming up u.s. soybean pharmacist via a worsening in u.s. china trade relations but will their worries be heard in washington. welcome to the business of so far we have u.s. tariffs on european steel and alan many on but u.s. president donald trump could go even further and slap tariffs on german cars media reports suggest he may even want to ban german luxury car. it's because he says there are too many of them on the roads of america and too little u.s. cars in germany but are you as motorists interested in switching from b.m.w. to fort. richardson gauge the mood on the streets in the u.s. capital. luxury german cars are a common sight on the streets of washington d.c. and the idea of blocking their import isn't so popular. people want to buy german cars they should be able to buy german cars if not they want to

the u.s. in response to the trump administration's duties on canadian steel and aluminum. beginning july 1, some items will be subject to taxes of 10% or 25%. the canadian foreign affairs minister announced the measures today in hamilton, ontario. ms. freeland: canada has no choice but to retaliate with a measure of the great reciprocal dollar for -- perfectly reciprocal dollar for dollar response. freeland said, "we will not escalate and we will not back down." president trump once replacement for anthony kennedy by october. the white house legislative affairs director told reporters today that the president will ask potential nominees about their past and academic credentials but will not ask rulingpecific cases or such as rove versus wade, the landmark decision that legalized abortion in the united states. scientists for the environmental protection agency's day they are being left out -- say they are being left out of the rulemaking process. in a letter to scott pruitt today, the epa scien

the u.s.s following a different path on and and leading a more protectionist policy approach right now, there is still a chance that all those other countries that are united in the g7 and g20 and the member states of the wto will be able to carry on and stick to the global liberal international order. melinda: do you really think they will get to any topics at the summit besides trade? laura: i sure hope they will because there are really big crises like the ones in syria and eastern ukraine, other topics that are really relevant that we should be talking about. topics like equal rights s for womemen. ifif you look at the a agenda fr the g7, also climate change. these are really the topics we should be talking about rather than getting into those fights. the u.s. is giving its official justification for notsing these tariffs, unfair trading practices, actually, but national security by proceeding under what is a fairly obscure national law rather than under standard wto procedures. is the u.s

bywas treated as an equal the u.s. president. the language used by the u.s. president was the same he would use in the ovalffic with a visiting head of state or head of government. he would say it is an honor to meet with kim j jong-un. he talked about a terrific relationship. he does the same with a l lot of the u.s. a allies. it in fact -- in fact he does not do that with all of the u.s. allies. remember he went to the g-7 summit witith all sorts of problems. >> thank you. live.re on this, we cross analysts have been skeptical about this document saying it is a bit vague. do you think it has been cleared up by the press conference that donald trump gave today? >> not really. donald trump saying the menace of nuclear weapons will be removed. he is prepared to start a new history. he also talked about the sanctions very much saying -- very much staying in place. verifying.s. would be to ensure the promises made would be kept. mike pompeo sitting down with a team next week. before this conference this week, let's not forget he was talking about the complete de

normally u.s. presidents don't replace their secretaries of state and various other lead a disease like the cia within the within a period of a year or two years he's been very very different in that regard he's done all these things that are counter-intuitive and and yet and still he manages to come out ahead so. he's thinking the same thing on this with regards to imposing these these these trade tabs whether or not it's going to work with the with the deputy oh and with our trading partners is yet to be seen but he believes that it will and he's willing to stand alone if he has to to make that point mauricio second see it vos send that that out and many still have companies either that deal or expanding is it easy to see it from that perspective or do you think that the tit for tat because the create will problem for the american companies and the american consumers in the in the near term. i think of it that the problems are much bigger than the share of trade they're verities actually targeted

u.s. sparks anger among its closest allies is the threat of a trade war mood. hello i'm adrian sitting and this is al jazeera live from doha also coming up kim young troll is now planning to travel to washington to deliver a personal letter from chairman kim jong il a senior advisor to north korea's leader is shuttle to meet with donald trump place on friday. pakistan plans to sway in a caretaker government head of july's elections. and a new museum in south africa tracks thousands of lovers but not without controversy . the trumpet ministration is imposing tariffs on steel an aluminum imports from the european union canada and mexico u.s. trade partners are threatening to retaliate with tariffs of their own as fears grow over global trade war kimberly how could reports from washington. u.s. commerce secretary wilbur ross made the announcement from paris where he was attending an annual trade forum. tariffs of twenty five percent on steel and ten percent on aluminum imports into the united

the u.s. position is the u.s.institutions and administration has been since this illegal measures been taken against the state of qatar remember very supportive to me in calling for the escalation and for unity within the g.c.c. . the president at the beginning of the question is not reflecting. what we are as a single evaluating our relation with the us based on. the president has been informed by his institutions about the relation between qatar and the united states and. we have very strong and very constructive. engagement with the president himself and the president himself here he has spent a lot of efforts in the escalating the situation and calling for to begin to tee off the g.c.c. trying to convene a meeting between the g.c.c. countries in order to feel that that can reach a solution you've had has. has it had an impact on the white house has had an impact on the u.s. president and perhaps softened his position the communication mainly happen between within the us system but our communication command at

in the u.s. they believe, apparently, that the wto is an incursion on u.s. sovereignty and decides on biased ways against the u.s. they believe the u.s. is in some sense a sucker to china and others. now, there is a real issue here, as my colleague chad and others have written about, about china's market economy status, whether or not it should be granted that in the wto in fair terms. there are other issues at work. but in those areas where wto dispute settlement is applicable, china has obeyed almost all of the decisions against it, and notable exception is with regard to union pay and payment systems. but for the most part, has obeyed wto rulings. it is the most efficient and the most fair and the most legitimate way to deal with issues that are within the wto remit. it is in both the u.s. and china's interest to have that go forward. fourth, and this is perhaps the most important point. and chad will pick up on this. some current real disputes such as over technology transfer and intellectual

and u.s. senators consider a bill which would greatly expand the president's war powers even as constitutional experts testify about the dangers of the new legislation. a very warm welcome this is r.t. international with meaning aaron good to have you with us this hour now our top story it's been a year since the start of the operation to liberate the syrian city of rocket from meisel but the human cost of the operation still remains unclear according to the u.s. led coalition the number of civilians killed in the battle for rocket will never be known as far as how do we know how many civilians were killed i'm just being honest no one will ever know anyone who claims they all know is lying. it comes as honesty international releases a report accusing the u.s. led coalition of relentless air and artillery strikes jury in the battle for rocker the report even suggests the coalition may have committed war crimes as r.t. for trying to explains. getting to the bottom of what was really happening in

the u.s. 10 year yield, buying into treasuries. yields taking it lower. much flat at $65 right now, but it has been the soft commodities that are feeling the brunt of this trade fight. down 1.7%. we saw it much lower when it comes to soybeans overnight as well. let's get you caught up with the first word news. jessica summers joining us from new york. hasica: you run has -- iran rejected a potential problem rise at opec. it is a sign the cartels gathering in vienna could end in major disarray for the first time since 2011. the iranian oil minister says he does not think agreement can be reached. >> he has difficulty for the market. imposed sanctions against the two important members of opec, two important producers. to change something for the better. it's not fair. statea: chinese television says kim jong-un promised to update rise to a new level. cctv confirmed the leader met with xi jinping on tuesday, his third visit to china in three months. pledged to keep supporting north korea. it is a

the u.s. and china. the trump administration maintained a hard-line, mike pompeo calling the claims of openness in beijing a joke. >> opec considers a compromise output plan to head off an iranian and billion. >> and they are like casinos. how it could of the anti-. >> from sydney it is just past , 8:00 a.m., i'm haidi lun. this is "daybreak australia." we are two hours away from the open of asia's first major market. >> and it is just past 6:00 p.m. here in new york. good morning. we are looking at how the action on wall street will play into the asia-pacific trading day. once again, there has been a lot of attention on this trade rhetoric and we are waiting on the next actions from both the u.s. and china, as it has gone back and forth. haidi: it feels like that very much. the market has been sanguine about the trade threat, putting it on the back burner for the last few months, but finally ready to pay attention this week. a risk off session playoff right across the u.s. and across global e

the u.s. is giving as its official justification for imposing these punitive tariffs not unfair trading practices actually but national security by proceeding under what is a fairly obscure national law rather than under standard w t o procedures isn't the u.s. ultimately thumbing its nose at its allies and perhaps at that rule based international order in general sure bad i mean certainly trump need to react fast lease so he needed a reason in order to do to act like this i believe actually the reason this is a bit different. we have and we don't have an equivalent in the tariffs and that has to be solved for many many years we we claim to. you know the us claimed this. many years like the administration obama but also clinton george bush jr for instance they claimed this many many times and nothing had happened and the w t o x quite slowly and pace years and years of it just talking about bananas with tamala took many years for a very minor thing so i believe we need some action now we have

u.s. tightens investment restrictions. >> the president was very clear, we'll treat china the way we treat other people to the extent we're worried about transactions, we will block them >>> the white house and kremlin agree to a summit between donald trump and vladimir putin after the nato meeting as washington defends the president from criticism over his stance towards moscow. >>> and h&m second quarter profits fall more than expected as higher markdown levels and growing inventories weigh on the world's second largest fashion retailer sending shares lower. >>> good morning let's check in on markets. we had some big swings in u.s. equity trading towards the close with all three major i dindices closing in the red asian markets, we saw further losses with chinese equities down about 1% yet again. chinese equities officially in a bear market now. the definition of that is 20% from two-week highs. the mood in europe is a bit more lackluster you can see the stoxx 600 is really trading aroun

u.s. could be exposed to a tariff of 20%. watch out for autos. let's have a look at what is happening in turkey. elections coming as soon as sunday. you will have to be paying a hedge that volatility risk. expecting the market, we could see swings in the lira a 3% up or down because it is not clear who could win the election on sunday. the options market is pricing in the highest cost of hedging for the lira, all the way back -- since the financial crisis, 2008 . significant volatility priced into the turkish lira. >> we look at the three major averages. continuing the next trajectory. -- mixed trajectory. the nasdaq is declining, a reversal of recent trends. the u.s. reaction to the tariff headlines. she talked about the european autos. both the s&p 500 in blue and the s&p autos and auto components index also falling. both recovering and not much change. ford both slightly higher after dropping. the stock getting hit is harley davidson, down more than 2%. not a big reaction. not sure if t

of course, the u.s. has his own issues. for example, the u.s. is going to have a midterm election coming soon. so politicians need to do something in order to win the election. within the administration, their personnel changes. so you know that better than i do. it turns out that the hardliners are now taking more important positions when they pro-trade officials either the left voluntarily or involuntarily. now let me focus on the factors. and that trade imbalance. if you look at the overall imbalance of payment china's surplus stood at 1.4 percent of the gdp from last year. however, on a bilateral basis, china's trade surplus against the u.s. account for 46 percent of the overall u.s. trade deficit. this is greater than the largest trade partners involved. like mexico number two, malaysia number nine, but all of this combined account for 44 percent of u.s. trade deficit. so politicians will deftly pick up china. you need to reduce your deficit, your surplus. i think there are a number of factors behind the bilateral trade imbalances. and also

brent: the u.s. president hails a supreme court decision to uphold hisis travel ban on sevel muslim majority countries. we will geget more from the u.s. capitol. alsoso coming up, malta says it will accept a migrant rescue ship it previously turned away. several european countries agreed t to take a share of the 200 migrgrants on arard. yet passengers on the ship say they have heard nothing about anher government and her job on the line because of migration. german chancellor angela merkel is trying to deliver immigration policy to satisfy the most conservative members of her coalition government. she has added that a plan is the answer but time and public opinion are not on her side. and we have the latest from the world cup as groups c and d come to a close. argentina addled nigeria for the last 16th spot. all the world cup action is coming up. ♪ brent: i'm brent goff. it's good to have you with us. tonight, u.s. president donald trump is celebrating a major victory. the u.s. supreme court has uphe

u.s. president says he's willing to escalate. they are now suffering the the 2008xit this sense meltdown. in hong kong, i am rishaad salamat. haidi: in sydney, i'm haidi lun. coming up, oil sliding ahead of what could be a fiery opec meeting with iran leading something of a rebellion. this is "bloomberg markets: asia ." rishaad: just to seeing hong kong closed. shenzhen and taipei as well because of the dragon boat holiday. concerns about the trade war getting worse, but a bit of world war. moment. have it at the that's the picturof what's happening. that one. close for there we have it. haidi. haidi: we are talking about last week being the most important week of the year for investors. we might get more market reaction. we spoke about the concerns over trade playing out across the commodities market. copper, soybeans, cole. we have seen that reaction across the commodities complex. could be a contentious messi opec meeting, divided going into friday. you are seeing declines when it comes

so a u.s. company invested in wind turbines to provide renewable energy to california that has mandates on renewable energy and i think this is another great example about how we can work together and this is thinking about the future and with all due respect, this is not about coal. we have to think about what the future has in store for us. this is a hopeful story and let me end with just an optimistic note. i'm also a medium to long-term optimist and go back to hazelton. andrew and i taught a course and he always started the course with hazelton, pennsylvania, and always forgot the name. now i'll remember. it's hazelton, pennsylvania, and i did some back of the envelope math. the population of hazelton is 25,000. the population of the u.s. is about 237 million so there are about 13,000 hazelton stories to be told, okay, and i think the hazelton story is very, very powerful. you mentioned joe madden from the cubs. so he plays a big role. again, i won't do the spoiler alert. >> he's from hazel

>> a discussion about u.s.-north korea relations, pounds discussed next weeks plan summit in singapore and president north korean official with at the white house. this event was hosted by the foundation for the defense of democracies in washington, d.c. >> all right.and ten minutes. good afternoon and welcome to the foundation for defense of democracies. my name is david adesnik. i'm the director of research. it's my pleasureid to welcome al ofh in their the audience and new ones. i hope this really shows quite a broad audience, thehe kind of wk were doing here and how proud we are to bring some super experts to talk about north korea today. so i couple of housekeeping items. today's event is being live stream video recorded and broadcast on c-span, so it's on the record which means would like you to turn off your phones so we don't have any interruptions, otherwise your frozenaught for posterity and never forgotten. to set an example i will go ahead and turn off my phone right heater. so with that i'd like to

who are located in the u.s. -- u.s. mainland and covepnaverbing national movement it's a movement the u.s. government really suppressed and there's a listen not many nose much about t and there was a reason republicans didn't want to make it known that he was not in support of independence. they didn't want to have a match r. -- f.b.i. file opened. mail were thoughtses of being opened and it's a very dark history of the united states. >> a couple of quick follow-throughs. i think she passed away. >> she did. she passed away in 199. >> and how did you come across her story and why? >> i first started doing research on and i have written about -- puerto rican women who were involved in the independence movement in puerto in including protesting, the is the 1970's. and i can say something about that. but as i did research in wan juan -- san juan, i hittered sta stow her name and i reelsed that me scomme other nationalist party women that i was researching were also active in manhattan so i went to the archives at the cente

u.s. trade and investments in latin america. the panel was asked about the impact about the president's tariffs on u.s. trade partners including canada. this house foreign affairs subcommittee is about -- one hour and 20 minutes. >> acorn being present, a subcommittee will now be in order. i would like to recognize myself or opening statements. the western hemisphere possesses tremendous opportunities for further economic growth and u.s. business engagement. the united states already has significant economic interest in latin america and the caribbean's. it is the largest single source of foreign investment for many countries. we are also the top trading partner for most countries in the region and have free trade agreements with 11 countries and bilateral investment treaties in international investment agreements with 19 countries in the region. hedging in seeing the region from some countries that don't always play by the rules, which undermines u.s. economic interests. china has signifi

the u.s. market continuing to take trade war fears in stride. news, leaving us with a lackluster session overall overnight. they: it doesn't feel like moved into the lloyd blankfein camp, maybe this is just a negotiating start. nothing really fundamentally changed to signal this shift towards mildly more positive sentiment overnight. yvonne: we are still hearing there are no negotiations but for between the u.s. and china when it comes to trade. take a look at how the u.s. stocks ended for the day on wall street. pretty flat and lackluster next, so to speak that the dow under a bit of pressure. stocks down 1/5 of 1%. the s&p 500 breaking the meltdown we saw throughout this week on trade war concerns. the nasdaq leading the gains, another record close because of the looks of , amazon, netflix at record highs. we are seeing yields picking up higher on the u.s. 10 year at 2.94. some weakness in the yen overnight. the pound getting a bit of a $1.31 after theresa may wins a key brexit vote. offshor

the u.s. in july as larry kudlow says that president trump is not solely responsible for rising tensions. >> don't blame trump blame the nations that have broken away from those conditions very important point all right? trump's trying to fix this broken system. >>> and the shares fall as the drink maker's flat dividends disappoints investors although cognac sales help. >>> warren buffett and jamie dimon are teaming up in a tv first, our u.s. colleagues will speak to the sage of omaha and jamie at 12:00 p.m >>> good morning, again. welcome to "street signs." we were just talking about the delayed open of the ftse 100 you can see it's just opening up behind me about 40 points higher, about 0.5% roughly we have got a bunch of stocks going -- so that's taking off about ten points from the overall composite. but as you can see, the ftse 100 is starting off on a firmer footing. let's switch and talk about the action in europe this morning. of course we did have a stronger session in asia as well sa

u.s. imposes tyrus on chinese imports. france and israel is leaders are meeting in paris to iron out differences on the refugee crisis. and the united nations warns global warming is still reaching dangerously high levels. the leader of yemen to the rebels is called on his supporters to fight back against saudi and emirate he supported government forces who were closing in on the vital pull city of her day meanwhile the u.n. security council wish discussed the issue on thursday says the port must remain open for humanitarian deliveries lower burden monday reports. yemen's port city of how data was bustling with people buying food on thursday bought this is also a city bracing for a heavy bombardment and the. people here are barely living his unemployment you know data there are no jobs the person you know works to on his daily living there will be a big crisis if the fire chad moved into the city and with poverty and hunger and the residents will be victims people are dying from hunger the

u.s. posts a stellar job report as global leaders react to tariffs. more on that in a moment. first let's get to economic data. abigail doolittle is with us. >> we are looking at them a number for the ism manufacturing report. the number for the month of may coming in at 58.7 versus the 58.2 that the survey was calling for, versus the prior month of april at 57.3. anything above 50 cells -- tells us the economy is growing. together with the strong jobs report, a consistent message of a strong economy. we have the markets trading higher on the solid economic data. the data, s&p 500, and nasdaq higher on the day. it has been a choppy week. yesterday, the s&p 500 was down .7%, now up .8%. up about 1.2%. investors murmured about the trade war, and today we have some strong economic data. this year's theme of volatility continues. on the week, we are looking at a mixed picture. take a look at the bloomberg. these are the weekly gains and losses for the three major averages. month,ary, a strong

the u.s. aircraft is a long way to fly, it is very expensive to fly an aircraft six hours over the korean peninsula. maybe there are elements of the exercises he has picked up on. but it is pretty vague at this point and i gather that the korean government were surprised so hopefully these details will come. what is your reaction? >> i would say a step forward but at the same time, where are we? i think two people, mr. trump and mr. kim, made an agreement from which we can go anywhere. i have already four different scenarios in my mind. one is ok scenario in which north korea will take the necessary steps for denuclearization. i don't think they will denuclearize quickly and comprehensively. but they can take steps gradually. the u.s. and north korea can decide to improve directions and it seems that kim jong-un is actually very interested in his country's economy. the second scenario i have is a bad scenario in which we go back to crisis situation. trump expects a lot from north korea and if

>> u.s. stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerging markets. >> the fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant. sydney. from we are just past 8:00 a.m. here. just past 6:00 p.m. here new york. we'll be looking at how the asked -- action -- small pullback in bonds. it is not so much about what happened but more about what did not happen. we did not get any major tweak or statement from -- tweet or statement from president trump on trade. gave the stock market a little relief. of course the nasdaq held by the rebound in tech stocks. everyone watching bank stocks after several days of declines. worsening developments in this trade tiff. not a terrible open set up for friday. just getting underway. also a little mor

the u.s. session, the dow is still down .4%, and we saw a decline in the s&p 500 again. interestingly, consumer staples selling off quite a bit over the course of the session. the nasdaq, after flirting with no change most of the day, slightly in the green. we see strength in large-cap technology. the dollar going sideways, but really maintaining its uptrend. if you take a look at the bloomberg, without a look at the u.s. currency along with the 10 year yield, not changing much on the day. reassertion seeing of the correlation between the two. that seems to have broken down once again as the dollar continues up and yields do not. they go sideways to down, yvonne. yvonne: you see these bouts of volatility. that plays at how out into asia. the set up so far looking mixed for asian stocks. a pretty ugly day yesterday. the benchmark drifting to the lowest on these trade tensions. new zealand down .3%. aussie futures pointing to decent gains. pretty muteds today. career really has been taking the b

u.s. as the two nations hold talks to try to avoid a trade war. and anti immigrant right wing parties predicted to win the most seats in slovenia's general election. the meaning of baghdad calls to repair rocks crumbling heritage are being ignored. and is mounting in jordan against tax increases there's been another day of protests calling for the government to resign the tax rises are required by the international monetary fund to reduce the national debt. at the largest anti-government rallies in five years in what regard is one of the most stable middle east countries the purchase movement initially started by trade unions has swelled nationwide today to show their frustration. i'm up with how local white citizens now have no power the searching for the children's t.v. food women are looking in garbage containers to feed their kids and every day we are surprised by rising prices of new taxes. the problem is not just with that small the jordanian citizen right now. his pockets are empty

the u.s. a 25% tariff. the wider impact of this potential trade war has implications for european automakers jpmorgan expects the tariffs to have a moderate negative hit for fiat chrysler, but less relevant for volkswagen, bmw and daimler. so a bit of an impact there for the auto sector. all of those major european automakers now in positive territory. nbc news' kristen welker has more on this >> reporter: tonight, triggering a trade war. the u.s. announcing harsh taxes on steel and aluminum imports, now the retaliation from some of america's closest allies already under way. mexico vowing to slap fees on american pork, fruit and steel europe threatening tariffs on everything from whisky and motorcycles to denim and cigarettes canada's prime minister promising a dollar-for-dollar response and calling the u.s. move an affront. >> in particular an affront to the thousands of canadians who have fought and died alongside their american brothers in arms. >> reporter: and now, u.s. consumers and bus

because if the u.s. is not willintoinese tanks to avoid what in my view, -- atent violations of ,latant violations of u.s. law what convinces us that the administration will go after european banks and others that might be doing that for a run sanctions and violations. i think these are interlinked. so from my perspective, can a scorecard. i would say if we're going back to max pressure and the first thing out is not going after chinese networks or banks, it could wind up harming the administration's policy on iran and north korea. ms. demick: something i find interesting here listening to you speak is there seems to be a reversal of political roles north korea -- i know that there are the traditional democrats and liberals and lefties -- about trump, at least when it comes to the korea summit. most conservatives i know are very skeptical. do you think you have kind of reversed roles? bruce come i just heard you kind of praising bill clinton. mr. klingner: i am comfortable with grumpy. i try to see thing

the u.s.overnment has asked saudi arabia and other opec producers to increase production by one million barrels a day as gasoline prices surge to their highest in three years. president trump has publicly complained about the opec policy that has helped to boost prices and train the glut. sources say it is unusual for washington to ask for a specific output hike. says iran has drawn up a tentative schedule for boosting production of uranium. the plan was outlined in a letter submitted monday and follows the call for iran's nuclear industry to be ready to resume work. the iaea said iran is sticking to uranium enrichment limits under the deal. the ecb is said to anticipate a pivotal discussion at next week's meeting and could produce a public announcement on when it intends to wind up qe. the governing council is likely to treat the gathering in lafayette as an opportunity to debate the in the bond buying. set to rungram is until september and the bank has declined to comment. global news 24 hou

u.s. president to meet and shake hands with a north korean leader after months of speculation of the summit was even going to happen the two men met on singapore's sentosa island they held a fourteen minute meeting followed by a signing of a joint statement in which they agreed to the denuclearization of the korean peninsula but it was a document vague in detail and lacking a timeframe will get us in a moment first brown begins our coverage from singapore. no one was sure quite what to expect from the summit release a very talented. if this goes for just the good news they seem to get on but as expected u.s. president donald trump and the north korean leader kim jong il signed a deal vague on details it says the united states and north korea will work towards denuclearization but missing the would verify. by and irreversible at a news conference trump was pressed on that saying he now trusts the north korean leader it does take a long time to you know pull off a complete de nuclearization

companies like u.s. steel are going to have to cover it all which sounds like a good thing but these companies haven't been able to work efficiently for low prices that is why in purchaser of imports were flooding the american market in the first place so there are a lot of potential losers here i mean as we've heard time and time again a trade war will only hurt both sides does trump think he can keep things from spiraling out of control at the same time as getting what he wants. i think he's making a calculation and calculates the costs of terrorists through higher prices as less harmful than the competition with the e.u. or canada mexico china and he is also trying to live up to campaign promises he has made especially to voters in the rust belt and to industrial companies it might not make sense economically especially as the trade deficit is not necessarily going to spring that way with retaliation from so many different sides with hurt mexico and canada the us are not going to be able to export mor

the u.s.ld not sign the communique. how are we to interpret these aggravated tweets coming left, right, and center? >> it did seem hard to believe. before the summit started, trump of course called justin trudeau "indignant" and lashed out at his allies. i was at the meeting and we were preparing for a lot of fireworks. and then it turned out that trump actually seemed to really get along with people. at one point, we did not think there would be a communique at all, but by saturday, we heard there would be and of course, there was. justin trudeau said it shows we can deliver when people thought we couldn't. and it was quite shocking movie got the tweet minutes later from trump saying, "this is an insult to us, and justin trudeau is weak and meek." and so i think, you know, in the grand scheme of things, not agreeing on a communique does not change the world, but it will be very hard for the leaders of the major countries to trust that trump will commit to what he said he would. ♪ rishaad: tru

u.s. companies are doing very well. our focus isaid, on the u.s.u.s. economy can withstand further hiking. in contrast --s, if they are so focused on what the u.s. is doing, that means they are not trying to be the global central bank and i think that has contributed to some of the near-term weakness that you alluded to in em markets. david: the fed has hiked rates seven times already. when do we start to feel that? look at em or the strength in the dollar, we have felt it to a degree. the real question is, when does the tightening start to withdraw liquidity at a rate that the u.s. economy or the global economy can't tolerate it. so far, we haven't seen that. signaled --p has ecb has signaled it will put the qe system in the future, the bank of japan is still providing liquidity. while that tightening has begun and continues, in the netted states it is not at a point where the fed is choking off states,- in the united it is not at a point where the fed is choking off growth. typically what killed the rally was the fed hiking rates intentionally tr

so often puerto rico, particularly among u.s. historians is not seen as part of u.s. history, or it falls through the cracks of latin american history or u.s. history. the puerto rican studies association is a place where it's a very vibrant interdisciplinary conversation but because of the history of puerto rico as a colony, it doesn't fit neatly into the geographical categories so it doesn't get the focus for that reason among u.s. historians. >> right now puerto rico is in the headlines as it tries to recover from an awful hurricane that basically devastated the entire island, infrastructure. so many now are leaving and coming to florida and elsewhere in the u.s. does any of that surprise you based on the history that you've researched in puerto rico? >> no. everything that we're seeing is a continuation of a legacy of the unequal status of puerto rico in relation to the u.s. federal government. it's an unincorporated territory. it has secondary status. and this is, you know, the federal response, the availability of supplies, all these things were affected precise

products try and help the u.s. with its trade deficit and so even now it's really some of the other countries that were playing by the rules in china wasn't. love the analysis thanks for joining us pressure to be here thank you. a german commission has recommended raising the minimum wage next year from eight euros eighty four an hour to nine euros nineteen ideas to boost private consumption the german government is widely expected to ok the proposals which include a further hike in twenty twenty points have been required to pay the minimum wage in germany since twenty fifteen. stuff a national correspondent to cope about the success of the minimum wage here in germany. when you take a look around europe with then nine euros nineteen germany would be the number two in europe with a minimum wage the highest minimum wages being paid in luxembourg with eleven yours fifty five and the lowest in bulgaria with only one euro fifty seven exports are divided if the mini wage is a success story here in germany or not when yo

u.s. tariffs. trade continues to dominate concerns about markets. everybody is still wondering where this is going. you mentioned the report we should be getting at the end of the week. president trump clarifying he intends to use the committee on foreign investments in the u.s. to go after not just chinese investments and technology in the u.s. but other countries as law. yvonne: i guess darling back a little bit when it comes to the trade rhetoric. limbo on the trade fund. a modest rebound, as you mentioned. not seeing a lot of juice into the market, it is. kathleen: if it had not been for oil rebounding, we don't know who would have gotten that rebound in stocks. let's take a look at where they closed. the dow gaining 30 points. after nine straight losses managing to rebound, the s&p 500 up six points. again, led by energy producers in the nasdaq as tech companies recover a bit from their brutal selloff on monday. let's move on to major markets and see what is happening there. i just me