it is fair to say with respect by peace and security china has the best track r record third, china'sonic supporter we firmly see you and at its core in the international order based on international law. chinese people always honor our common enemies and commitments. that's the first question. the possible consequences of the theworld splits into two differt systems. and how to do about it. i think if that is the case the consequences will be unimaginable if the world becomes divided. it would be very difficult for humanityty to address common challenges together and in a worst-case would possibly allow compensation. that would be a situation know can stay unaffected. president xi once said all countries in the world are like passengers inwe the same big shp we share the same future i need to act with stronger global solidarity to narrow down the division and avoid unimaginable consequences we should work together to bring to life t division of community with the sharedy document for mankind ad mentalities at that same time in this process, i think the role of major companies is very

china has not made good — next two years. china has not made good on _ next two years.as not made good on their— next two years. china has not l made good on their agricultural purchases forfour years made good on their agricultural purchases for four years and if confirmed, next week, i would start pushing for them to resume the purchases and event i would conference with president trump on whether he believes that there should be inaudible.— believes that there should be inaudible. ., �* ,, ., inaudible. scott bessent also outline how — inaudible. scott bessent also outline how the _ inaudible. scott bessent also outline how the trump - outline how the trump administration could use tariffs for several purposes. firstly to address unfair trade practices, second, as a tool to raise revenue for the federal budget, and that, as leverage in trade negotiations. as for the use of sanctions, he said he was 100% on board, increasing sanctions on russian oil makers. the edge fund me is seen by many as a safe pair of hands for one of the country's most important economicjobs, m

and china. pointta that i i came up with that and i talk about that is you mentioned my time in congress, on intelligence committee, i became director of national intelligence and i was on other side of court curtain it wasor clear that china and china alone presented greatest national security threat. that was not something that i had seen as a member of congress. irwas pleased to see in unclassifiedt respect a recognition and a it is about that, that china poses that threat. unfortunately, what worries me most about china is that they have a lot of momentum, they didn't just become our number one adversary over night, we should have been talking more honestly and candidly, of china. how they are a near peer competitor to u.s. in so many places we look up on, what worries me, they are a near peer competitor and they have a lot of momentum and unified focus. in their effort and the way they are approaching this they want to replace u.s., they have a lot of resources to devote to that and dedicat

i think china's economy is a curious _ is? i think china's economy is a curious thing _ is? _ is? i think china's economy is a curious thing to behold, - is? i think china's economy is a curious thing to behold, on| a curious thing to behold, on the one hand you have what everybody i think really understands and sees a lot of nowadays, which is a very advanced modern sector that is advanced modern sector that is a world leader in things like electric vehicles and batteries, wind and solar equipment, and a lot of manufacturing. this is a very dynamic part of the economy, but it is only about seven to 10% of the economy. much of the rest is pretty much flat on its back, actually. and so the numbers which came out for china today, which confirmed the government's target was met, it is always met every year, are a bit of a fiction, really. and don't really tell the full story about how challenged large swathes of the economy are by debt, by poor productivity, by overproduction... productivity, by overroduction. .. productivity, by overroduction... ., overproduction... tell me mo

we get the china, you know, they call it the china curse. we get the china curse. their better and their air is dirty. carmel gat that our gift from china. >> all right. so talking about trump, about china, that has been the hallmark of trump's career. now though, china is pulling out all the stops to cater to trump. the vice president headed to his inauguration. chinese kids are even learning the ymca write the song heard at about every rally that's going to be performed at trump's inauguration. artists are making sculptures of trump, and there's one person very close to trump. oh, extremely close his partner. in fact, right now in governing, who no doubt is hoping that trump will be won over by all the flattery well, i'm a big fan of china. >> you can say that i mean, i've got a lot of fans in china. >> well, the feelings are also repeated. >> elon musk i mean, of all the people in trump's inner circle, musk has the biggest financial stake in china. i mean, it's it's you can't underestimate it. it's crucial to his entire business empire, to his hundreds of billio

this is not the us against china. other countries need to protect their sectors against china. if you have tears coming on china from, from the you, from brazil, from countries in, in south east asia because of this same item, fair trade practices that china is using when it comes to electric vehicles. you also have concerns throughout the world, including the united states, but everywhere else about china is excess capacity that they're dumping into markets at this. hollowing out some, some of the industrial bases that, that you see in the us and you see elsewhere. so part of this is going to be use the world, you know, it is, you se, asia in parts japan, korea, what are they going to do visa v, china? and then how is china going to react? because if you see this, you know, china plus one this, this diversification of supply chain out of china because of the tariffs, the us has been putting out. it's not just the us and the japanese in new your opinions that are diversifying out of china. it's the chinese who are div

your presence here today shows the importance of china's global engagement and the critical role chinalays in shaping our shared future at such an important and critical moment. your excellency, china has emerged over the last decades as a key player in addressing global challenges and its contributions to global economic development are undeniable. china's commitment to sustainable development and its ambitious goals for a green economy are impressive. your multiple initiatives have the potential to improve global trade and infrastructure, connect continents further and forestall economic woes, especially for the global south. vice premier, you've been a pivotal figure in china's political landscape, known for your strategic region and dedication to advancing china's modernization. with a career spanning several decades, you have played a crucial role in shaping policies that drive economic reform, technological innovations, and sustainable development. your leadership in various capacities, including as director of the c.c.p. channel office has been instrumental in fostering internat

most about china? and they are interrelated in terms of those questions. >> david, to the first question, china is both, they're both an adversary and a competitor. but they should be more of a a competitor and less of an adversary then and it's the other way around right now. we want to compete with china. we want to compete with anyone. american greatness is founded on competing in winning on a level playing field but that's not what's been happening and that's not what has allowed china to rise and what we now see from what you talked about the threat report from the intelligence community that china is our greatest adversary in the sense of the only other nationstate that is capable of challenging and even supplanting the u.s. as the world superpower, economically, militarily and technologically. we talked appropriately, david, about the great power competition that has become a term that we talk about in dealing with china and russia and its appropriate but i d a term with in it which is a greater

trump: if china did not approve it, we could put tariffs on china. don't forget, we charge them very little -- except for what i did, i put hundreds of billions of dollars until. . i came along, china never paid $.10 to this country. they ripped us off and they never paid anything. if we wanted to make a deal with tiktok and china wouldn't approve it, then i think ultimately they would approve it because we would put tariffs on china. it may be. i am not saying i would, but i certainly could do that. if we said oh, you are not going to approve it, we will put tariffs of 25%, 30%, 40%, 50% even 100%. if we did that, i think they would approve it. reporter: you have seen the other living presidents a couple of times in the last few months, if you had to call on anyone of them for advice, which one would you call? pres. trump: i thought bill clinton was a very good politician. i don't think he was used properly. i think they disrespected him. when hillary was running, he came back and said, you better get up to michigan and wisconsin -- you remember tha

and china promised a lot. it promised that the existing ways the existing freedoms in hong kong would survive for 50 years own currency tax, administration, government, common common law, freedom of press freedom of assembly, freedom of religion all the freedoms that we in open take for granted. this was further codified the basic law, a sort of mini constitution that china wrote and imposed on hong kong and it did promise as you to move towards full democracy which i mean think about it it's just not a big deal honestly. was electing the city council, electing the mayor, the chief executive of the legislative council, even little things proved to be too much, for china. and as you said in 2014, they, they, they back those promises. and the people of hong kong enough. you know, it's been almost decades and you're moving us. what about all these promises? and that's when the students took to the streets and you know very different dynamic between the students and jimmy and apple daily. but they were all trying

is going to beat china in ai. does this morning's executive order actually move the needle in a meaningful way, and what does that leave out. >> if you think about ai infrastructure, and am always reminded of a book that i may or may not have read in the late 1990's, "guns, germs, and steel." the book made the case that mason succeeded when they were able to marshal their natural resources to get a competitive advantage. if you think about it i like the electricity of our era. if we can prevail on a key for us to continue to lead the world, that will ultimately be an infrastructure exercise. it's good to be chips, data, talent, it's going to be the energy piece. specifically to your question, i think what the biden administration has put out today sends an interesting signal in the following way -- we have identified that there is roughly $175 billion of dry capital out there globally, looking to invest in ai infrastructure. there is an understanding that there's going to be such a need for it, in part, driven by

these are the china and then how is china going to react? because if you see this, you know, china plus one this, this diversification of supply chain out of china because of the tariffs, the us has been putting out. it's not just the us and the japanese, and the your opinions that are diversifying out of china. it's the chinese who are diversifying out of china and what is that going to do? there is upsides and downsize for countries for where china is diversified. so it really is, is not just that, that what's gonna happen between the us and china. it's all the, the effects from it, in addition to enacting to your point, adrian, the us is also going to put tears on other countries, canada, mexico, the you, we're going to see that as well. and so yeah, we're, we're in for a lot of tension in, in trade going forward throughout the world as a result of donald trump's presidency and his approach to an america 1st agenda. i'm glad you brought up the canada there. what are we to make of, of that nonsense of also his threats to, to take greenland

so this time china, she didn't think very much wanna focus on portraying china as a strong country, stood the country prepared for whatever trump for his assets. and to that end, we had presented to jim ping today would choose to speak with brussels, lead of his intention saying that the bathing must go upon the ship is very strong . that will not be impacted by whatever happens in the us and the aging. also in the months leading up to trump, d, a local agent has made this message clear that it wants to do with trump thoughts if it needs to. it will retaliate against us and us friends to you in beijing. katrina is thank you very much. indeed. joining us now is political economist of david mon live from beijing, so thank you very much indeed for being with us. what's your assessment of china's position when it comes to a trump administration? and there are some of them, the chinese administration who believes that trump will be transactional. i think the more realistic minds seeing that people call trump transactional as if he was a very successful businessman. when we know that he managed

china, figures show the econom i china, figures show the economy grew _ i china, figures show the economy grew by - i china, figures show the economy grew by 596, - i china, figures show the i economy grew by 596, hitting i china, figures show the - economy grew by 596, hitting the economy grew by 5%, hitting the target set by the government but that is one of the slowest annual growth rates in decades and comes of the world �*s second—largest economy faces a number of challenges. with donald trump sets return to the white house next week with a promise to hit china up with even more tariffs. some experts have warned the country faces a tough year ahead. let's turn to our newsroom for more on this. tell us about this 5% number and what it means. tell us about this 596 number and what it means.— and what it means. those numbers _ and what it means. those numbers just _ and what it means. those numbersjust coming - and what it means. those numbersjust coming in i and what it means. those l numbersjust coming in and numbers just coming in and showing as you mentioned that china's economy did

in particular on china in the next administration.e are trading flat as we have scoop after scoop from the washington-based colleagues. bitcoin fended off risks intimate. trading 2.2% higher. perhaps looking towards where we can see trump in the next administration eyeing crypto. a look at in terms of the individual movers. a key story of the day. we are analyzing if elon musk could take over the u.s. operations of tiktok. it is being eyed by chinese officials and by meta. there are concerns running the fact that they will be offloading some of the lowest performers at a faster rate. slap off by 6% if tiktok u.s. could be staying for longer here in the u.s. by january 19, it is deemed it has to be banned or divested. good that you divested elon musk? -- could that be divested elon musk? where has this narrative come from that officials, not bytedance but chinese officials might think elon musk could be a good owner of this key social media company question mark sarah -- company? sarah: they have and evaluating options for tiktok shoul

do you think china can get around this? what's the goal in china has already been blocked in china. in fact, because china has been blocked, china has trying to develop is boons indigenous technology. let's see, ties be mentioned deeps the china just may be available at such cheap price. people can trying to use. i did see par $6000000.00 tokens for only $0.50 united states. i think they, i would not be able to compete with what us has done is you wrecked the digital for a living wall and basically is keeping up vast majority of the world market. choose a chinese software, so it's not interesting, isn't that interesting? nice one, the carl kevin over to you. what washington has naming 18 of his closest allies, free all for restrictions with these chips, but that still nato, an e u members coming under these chip expos limits. is that by design or is that just a mistake? your thoughts? kevin? i think it is another situation where the by the administration is trying to make it difficult for the incoming administration to operate. we've seen the same thing when it comes to russia and u

you mentioned china for example. the german automotive industry sells hundreds more cars in china. the open market guarantees for prosperity and technical development. i think it should also be part of the talks we will have with the government to have this question. how can we have the greatest impact from both sides of the atlantic and with all partnerships we have right now. a lot of american companies are producing in germany and vice versa. that is the best international trade. >> the trade group hoping to have discussions with the trump administration. thank you for joining us. >>> we stay on the topic of manufacturing and ariffs. our eunice yoon visiting one export center to look at how chinese factories are preparing for tariffs. >> reporter: hoping to beat trump's tariffs, furnish after seller harley lee is doubling the products to the u.s. and storing them in warehouses there. four of five tables and other furnishings are sold to american consumers. we expect to stole piling will force to raise prices as much as 10% even before the tariffs. i have to ship them in advance

that if china and by that i mean he ij china and by that i mean he i guess— china and by that i meany that i mean he i guess he means _ china and by that i mean he i guess he means the - china and by that i mean he i guess he means the chinesel guess he means the chinese government— guess he means the chinese government does— guess he means the chinese government does not - guess he means the chinese government does not acceptj guess he means the chinese i government does not accept a deal— government does not accept a deal on — government does not accept a deal on tiktok— government does not accept a deal on tiktok that _ government does not accept a deal on tiktok that he - government does not accept a deal on tiktok that he could l deal on tiktok that he could wield — deal on tiktok that he could wield tariffs _ deal on tiktok that he could wield tariffs to _ deal on tiktok that he could wield tariffs to try _ deal on tiktok that he could wield tariffs to try and - deal on tiktok that he could wield tariffs to try— wield tariffs to try and force bei'in: wield tariffs to try and fo

how worried are you and how worried is china about that?stors are worried about tariffs, notjust china but everyone. but what we saw in the latest trade data is certainly a front loading of exports to us. so more than 10% increase in exports to the us because of the threat of incoming tariffs. but this is also really a lesson to be learnt. more resilience of chinese exporters and others as well, and also to diversify trade partners away from traditional partners. on thursday, trump's pick for treasury secretary, scott bessent, signalled a tough stance on trade with china when he faced questions from the senate. michelle fleury has the details. if confirmed, scott bessent, donald trump's nominee for treasury secretary, would play a key role in what's expected to be a tough economic stance on china. now, in his testimony, bessent said free trade must be balanced with fair trade and argued that china should not be allowed to flood us and global markets with its products. during questioning by republican senator roger marshall, bessent also emp

, . ., china.ure of that next week, _ china. we may get a picture of that next week, thank - china. we may get a picture of that next week, thank you - china. we may get a picture of that next week, thank you for| that next week, thank you for speaking to usjulia. my colleague has written an article looking at the challenges faced by the chinese economy in 2025. that is available on our website and on our mobile app as well. the world bank has named rising trade tensions and terraces big threats to growth. it is forecast that the global economy will grow by 2.7% this year, that would be one of its weakest performances since 2019. tariffs are a central part of donald trump �*s economic vision, as we have been discussing. he is a ready pledged arabs on the united states �*s as trading partners of mexico, canada and china on his first day in office. speaking of donald trump, his america firstjobs policy has stirred debate over the role of foreign workers in the economy. at the centre of this are the h

is going to beat china in ai. does this morning's executive order actually move the needle in a meaningful way, do you think, and what does it leave out? >> so if you think about ai infrastructure and i'm always reminded of a book that i may or may not have read in the late '90s, guns, german and steel, and made the case that countries succeeded, nations succeeded when they were able to marshal their natural resources and if you think about ai as the energy of our nation, how we work, play, impact everything, but to be able to prevail on ai for democratically led u.s. ai to lead the world that's ultimately an infrastructure exercise in and the guns and steel of this area an is ips ch -- chips, data, and the energy piece. and to get to specifically your question, i think what the biden administration has done today sends an interesting signal in the following way. we've identified there are roughly $175 billion of dry capital out there globally looking to invest in ai infrastructure. there's an understanding that t

china is imposing what they call china one principal on the world. which is very different, you know, from our china policy. can you kind of describe how we can push back on that and how need to make sure we are shaping their conversation? sen. rubio: yeah, and first is to understand that the one-china policy, the u.s. policy toward the issue of taiwan has been consistent and reaffirmed by every administration since 1979. does the combination of the taiwan relations act with assurances that make clear the united states, we are not going to pressure taiwan into any arrangement. we are not going to tell you when we are going to stop. have made no commitment to helping them in national defense. we are not going to force any outcomes and we reject any effort to coerce, intimidate, and/or forcibly drive time want to do whatever china wants them to do. that has been our position and that is the position under president trump's first administration and i anticipate it will be in the second. within that context it is important for us to find every opportunit

s. china tensions over there, so he's still an easy things. so if software, if ever kind of really great walls that goes from the factors from the ad, beatrice and other things you can focus on is creating walls that goes from the hardware perspective. so from hardware perspective and from a i, this is something desktop i can look at it, it's was use is summer, is creating while factors to an consumers to make then keep spending a poll as also discounts on its products. but china has recently decided to subsidize homegrown smartphones and other electronic, somebody's like to put for the pressure on, on, on apple. in particular, as you say, some samsung isn't really affected here because it's market share so small but, but it's not going to affect awful. we see that the impact will be limited. so 1st thing, this subsidies is salt times. so in terms of the impact and in terms of the type you're, you will bring the impact the impact. well, believe that in some of the time periods. so it's a continuous, that's the subsidies is quantity available i

china, china dominates the clean energy and manufacturing critical materials, supply chains.y want to capture the market of the future and create new dependency. the united states must win that contest. we will shape the global economy and plan for decades to come. let me close with this. like many of you i've dedicated significant portion of my career to our nation's foreign policy. was chair of the foreign relations committee as a senator, vice president for eight years, now president of the united states. put together one of the most competent foreign policy teams i would argue in american history sitting in this room before my eyes. throughout my career the world has gone underground tremendous change. but certain things have always held a true. at our best america leads not only by the example of our power but the power of our example. the past four years we have used that power, not to go it alone but instead to bring countries together to increase shared security and prosperity. to stand up to aggression and to solve problems through diplomacy whenever possible here de

they're going to the children in china, this huge pressure to succeed. at the end of high school, every student, like one year in king, my sits, the final exam is the account with them and see the days later, the children are allowed to make a phone call. ray ray can finally speak to mother. here's a samsung eliza industrial jose serial. again, yes, that was the problem i have has. uh so yeah. to ask to this know on 10, ha ha, ha, ha, ha, ha, ha, thank you. the center. oh, the is also talking to his mother. he said the, the alarm uh yeah, i agree, but it says it on your, on your condo or us or sure. usually the scenario again. oh, you guys are good. you the little by the, the, the charge by me and your call, you know, the, the home, the uh, the, [000:00:00;00] the home uh, what do you, uh, when you're telling you the, the the, the the the little mouse which was the building that could buy a new instruct arrives at the camp, his box contained helmet, some guns that simulate real gun fire. the place the rules of again they called town to strike, is based o

china, by farthe make up 150 of all vehicles sold. china, by far the biggest sold. sold. china, by far the biggest market has seen soaring sales. but in the us and europe, including the uk, demand has hit a speed bump. with around 1 million diesel models still on the road and a big used car market here, there is still a lot of work to be done. norway's electric revolution is shifting up a gear and sales of new fossilfuel cars tail shifting up a gear and sales of new fossil fuel cars tail off. but the journey to zero may take a little longer. adrian murray, bbc news, oslo. in south korea — a trial for suspended president yoon suk yeol is set to begin in less than two hours. the constitutional court will hear arguments on whether to uphold parliament's decision to impeach mr yoon over his failed martial law bid. so far there hasn't been any major effects on markets — as the benchmark kospi index is trading flat. before we go, major hollywood studios have pledged millions of dollars to help with relief efforts for the la wildfires. so far disney and warner brothers dis

china is now at both ends of our panama canal. as you follow the canal, chiefn is on both -- china is on both sides of the canal. they're saying, no, you don't understand, this is just for trade. well, this can quickly be converted into something else. look, as president trump and i recently noted, the panama canal is a vital trade global route that includes 40% of all the u.s. container ships. at some point america must wake up to what is happening. we cannot rely on an adversary to supply us with needed goods. and then they make the decision of what they will send us or what they will not send us. our ally in taiwan, we need to have a stronger tie with them. i want to thank chairman ship -- chairman ship -- talking about shipping, i guess, we can talk away, but i want to thank chairman smith for sponsoring this critical piece of legislation. listen, all my colleagues from ways and means are here to talk on this same subject. and we will continue this work to do this. but i think as we go into the 21st day of january, we'll see t

so like a features in china. this is creating social boss and really attracting those consumers in china. so when they're reading this call, social boss is easily attracting those consumers why more price closures and looking for a value in china. but what we see is that at the desk do having us from customers taking us over there. so that strong, cosmetic, in us is actually supporting the performance of f up. but if we look at overall pictures, uh, customer ones, you more size change. and also the company shows is really affecting at the, in china, locally. so this is 1000 can see of a preference. what does apple the need to do to regain its foothold and still in the top 5 in china? i mean, i have a time slipped out, but what does it need to do to regain? can see have a preference cuz they have to win back consumers in china. yeah, it need to create more while factors. so right now what we are looking at is a i, but uh, when it comes to a i, when it comes to china, it needs the approval from chinese government a

and as a land of liberty, america, not china, must late and as a land of liberty, america, not china, must lead the world in the development of ai. this comes as the us tighten its control of advance semiconductors and under the new measures, chipmakers like tsmc and samsung are required to tighten their due diligence processes for customers and in particular, chinese firms. the commerce department have put sanctions on 16 companies that said were acting quote at the behest of ageing. gregory allen, the director of ai centre at the centre for strategic and international studies. he summed up the biden administration status me. the biden administration is not going out quietly, they are going out with a bang. and just this week, there have been three major new executive actions in the first three days of this workweek. so one monday, we got the ai diffusion rule which puts in place new restrictions on the export of ai chips, notjust of china which had already been pre—existing, but to countries around the world and that's designed to tamp down on a smuggling of chips to china which had

didn't give it to china. we gave it to panama, and we're taking it back. the above all my message to americans today is that it is time for us to once again act with courage, vigor, and the vitality of history's greatest civilization. so as we liberate our nation, we will lead it to new heights, a victory and success. we will not be deterred together, we will end the chronic disease epidemic and keep our children safe, healthy and disease free. the united states will once again consider itself a growing nation, one that increases our wealth expands our territory bills. our cities raises our expectations and carries our flag into new and beautiful horizons. and we will pursue our manifest destiny into the stars, launching american astronauts to plant the stars and stripes on the planet mars. the campaign is the life blood of a great nation. and right now our nation is more ambitious than any other. there's no nation like our nation. americans are explorers, builders, innovators, entrepreneurs and pioneers. the

that is, one thing we export to china. they import a lot, one few things we export is in great capacity the long-term contracts tied up either directly to china or third country, they in turn send its to china. i think it has to be on the table. as a number of other measures we have in leveraging as we engine -- engage chinese, i believe they have world's largest surplus refining capacity, that is one more area where our energy policy will be criticalou in bringing geopolitical stability with them. >> i am focused on china, i want to turn to humanitarian issues. i -- fully support israel's ability to respond to hamas, i am very concerned about how it has played out in terms of massive humanitarian conditions in gaza, will you help lead the world in responding to those humanitarian conditions? and there is a proposal for a broad regional agreement that would provide security to israel, peace with all their arab neighbors, building on the abraham accords in return would create ail framework to have a concrete sketches toward

lng to china. should we be strengthening the chinese economy by sending them l and g >> i think that is a good point to raise in that regard. i will tell you that is one of the things that will have to be discussed in the broader relationship with china. and that is it is one of the things we actually export to china. they import a lot this way. few things we export is great capacity these long-term contracts that tied up directly to china or through third countries. some of this is exported to a third country who sends it to china either as a direct sale or by-product. so i believe that has to be on the table as a number of other measures that we have in leverage as we engage the chinese in this geo political perspective. i will point out the china have i believe the world be largest surplus refining capacity. and that's one more area where i think our energy policy will be critical and bringing some geo political stability to our relationship with them. >> focus on china but i want to turn to hum

and china. they spoke about trade, spoke about tiktok and that they're planning to solve a lot of problems for both the u.s. and china. not too many more details than that but we do know that the dialogue is already starting to get going. >> it's very positive. i interviewed president trump right there and he said, listen, might surprise us in terms of dialogue with the chinese. now, he did appoint hardliner peter navarro for trade, peter is no friend of china, but i was shocked. the biggest take away from my interview, we said, listen, stay tuned with china. there are things we can get out of china that would be terrific. i think that president trump is a negotiator and you don't start the negotiations by saying we're not talking to you. >> no, you invite them to the inauguration apparently. >> exactly. we make them pay a million? >> when yellen was in china they talked about tiktok, they brought it up. >> everyone talked about tiktok because they captured the hearts and minds of anyone who is

china has been stockpiling u.s.eported a trade surplus of $1 trillion for 2024 that's three times higher than what it was in 2018 trump's initial tariffs on imports, 27% of worldwide industrial production according to the wall street journal. incoming treasury secretary scott bessent spoke about it during the senate confirmation hearing yesterday. watch this. >> china is the most imbalanced, unbalanced economy in the world and they are in a severe recession/depression. they are attempting to export their way out of the as opposed to doing the much needed internal rebalance. i am with you on the need to open markets but we cannot allow a player like this to flood our markets or to flood the world. >> i thought it was great. benson noticed the u.s. may want to force china to make ketchup payments for failing to honor the commitment during trump's first term. he basically said china is starting behind the eight ball. what do you think plays out? >> he has not right we cannot allow him to flood world market or flutter m

china has two options right now. one is help to find an american buyer for the tiktok assets and bank probably tens of billions of dollars for this company. i believe the reports are that this represents the american version of the tiktok entity represents around 15% overall of the business of this company. almost every rational business person watching this right now, almost every rational person would say okay, i'll take my tens of billions of dollars and bank it and i'll bring that in and use it to help the company in other parts. the other option. i think this is really important. the other option is china could just say to heck with you, we're shutting down the app. we're not going to be active in the united states anymore. if they take that latter option, isn't it a default acknowledgement that essentially this is a spying app and that's the value that china sees for it? because otherwise why wouldn't you take the tens of billions of dollars from an american buyer >> bill: interesting. stand by, clay. a lot of

and china.fter the break, we will look at whatt wi te illakto preserve the lead or whether it's been erased. more after a break. . >> welcome back to "the exchange." welcome back to cnbc. with the ink barely dry on executive, and the district of columbia filing challenges to an order that looks to roll back so-called birthright citizenship. it has long been accepted law that the 14th amendment guarantees citizenship to anyone born in the united states. >>> a potential new hope for people with treatment-resistant depression and the fda approving johnson & johnson's nasal spray. the first-ever stand alone therapy for depression. treatment-resistant depression is for patients who don't respond to two treatments. they are roughly at&t has a new guarantee. because most things in business are not guaranteed. like a distraction-free work environment. -yeah,i'll circle back around. -get those steps in, kevin. your coworkers keeping things confidential. [phone ringing] oh, she's spilling all the tea. ♪♪

and russia was in china is top 5, china is also i, by the way, if you didn't already know this, but i suspect you did try and it was the biggest consumer of russian energy. more details on that commentary. you're going up online at odd c dot com. and that's exactly why all of us stories continue online. and on a friday a lot from moscow. they've got to come in the the altima 2023, a surprise attack launched against israel by how much militaries show the world the no one had expected. the palestinian runs. it goes to have so many cutting edge weapons. in the aftermath of the attack militants open the unlucky rain for the rockets and missiles that rained down on these rays, this is the see the silver the device. how can it be that um the ship to the middle east from a country whose top officials constantly complain about shortages of munitions and military equipments anyway, blueprint, blueprint, bass stem at us and e u military, a totals tens of.

made in china. tiktok i think tiktok is not their biggest problem. but there's big value in tiktok if it gets approved. if it doesn't get approved there's no value. if we create that value, why aren't we entitled to half? >> sir, will you shut them down? >> biden ever do news conferences like this? how many news conferences, peter, has he done like? >> like this? >> none. >> zero. >> it would be zero for the next infinity. for infinity it would be zero. [ all speaking at once ] >> going to help implement the executive orders? >> elon, no. elon is very busy sending rocket ships up to various places. with lots of satellites on them. >> what is your reaction to confirmation of marco rubio and what does it mean for latin america? >> which one? >> marco rubio. >> you said maco. >> i think's great. i think marco is doing a fantastic job. i think he'll get a lot of votes. i think he'll be at 90% or something. people know them in the senate. they know he's good. he's doing a good job. i don't know. i can't

lng to china. should we be strengthening the chinese economy by sending them l and g >> i think that is a good point to raise in that regard. i will tell you that is one of the things that will have to be discussed in the broader relationship with china. and that is it is one of the things we actually export to china. they import a lot this way. few things we export is great capacity these long-term contracts that tied up directly to china or through third countries. some of this is exported to a third country who sends it to china either as a direct sale or by-product. so i believe that has to be on the table as a number of other measures that we have in leverage as we engage the chinese in this geo political perspective. i will point out the china have i believe the world be largest surplus refining capacity. and that's one more area where i think our energy policy will be critical and bringing some geo political stability to our relationship with them. >> focus on china but i want to turn to hum