selling premium is the way to play >> all right we've got a news alert we want to get to out of d.c kayla tausche. >> melissa, the biden administration's economic policy toward china will come into view beginning on when the u.s. trade representative gives a speech outlining her views and the conclusions from her agency's top to bottom review of china. i learned from sources familiar with the matter that in that speech, the u.s. trade representative will declare that china is not in compliance with the phase 1 trade deal that was signed in january 2020 under that deal, china had two years to buy $200 billion in additional u.s. goods over the course of each of those years. and china's purchases have fallen well below that target. what is unclear, melissa, is how exactly ustr is going to respond to that. in the techxt of the deal, if oe of the parties is not in compliance, that will open it for additional tariffs taken by the other party. the ambassador has been calling for consultations with beijing directly and with allies over that it will be a critical speech to watch especially as we near the

reports that's more than 50% increase from just last year cnbc white house correspondent, kayla tausche live in d.c. kayla, has the attention of the white house -- this clearly has it now but what can they do about it? >> reporter: well, shep, the administration has said it will use every tool in its toolbox to curb energy prices but it doesn't have many tools available. the energy department tells me it has no immediate plans to release oil from the country's emergency reserves or limit exports of oil and gas those were two options raised but officials are worried they could do more harm president biden is now linked to higher prices at the pump. look no further from this message at a wawa in delaware. that's his hometown. a recent cbs poll found 66% of respondents blamed the government for higher consumer prices and 60% said it is not doing enough about it. the white house is talking to producers in the middle east and investigating price gouging in the u.s., but energy-rich states like louisiana where agencies have enacted policies to limit drilling activity, they say it's a manufactured crisis.

speech comes out today, brian >> big story there and for now the tariffs do remain kayla tausche breaking that news out of d.c we appreciate it thank you. >>> so let us stay with news out of china and what has been one of the biggest market stories and maybe market risks out there. that is the fate of china's evergrande group one of, if not the, world's most indebt companies the fear that it will not be able to pay back what it owes. there is some new reports on the company this morning as well as a trading halt in hong kong. be be bertha coombs is here with this story. >> one that people are going to be watching closely. so china evergrande is reportedly planning to sell a half stake in its property management unit to hopson developments for more than $5 billion with both stocks halted ahead of what's likely to be a game-changing transaction while both companies have yet to officially confirm the report out of china's state backed global times they pretty much spelled it out evergrande property services said the halt was pending, quote, an announcement concerning inside information and a possible general off