host of economic update and danielle de martino booth a former fed insider thank you both for being here. so richard let me begin with you on this question these these antidumping duties they essentially are price controls on russia by lifting those duties does the u.k. not give themselves some leverage when it comes to steel exports from the united states or coming from europe. perhaps a little but i see this more as an act of desperation you know the british have now disconnected themselves from a major global trading bloc europe and so they're now but twixt and between they have to please europe still because they trade with them they have to try to build some sort of relationship with the united states just as a time at a time when the united states is becoming more inward focused more nationalistic itself and they're looking around for who they can make some kind of deal with to try to find a way as now a relatively small economy in a world dominated by much bigger ones i see the deal with russia as as a kind of desperate grabbing for what might be possible and also a defense agains

term market moves so it helps to sort all of this out alter of fed up and former fed insider danielle de martino booth daniel thanks for being here so what is your initial afternoon yeah what's your initial thought here as the markets are seeing consecutive days in the red. well like i think the fed is trying its best to talk a very strong game and to provide a united front or at a master was out being fairly hawkish yesterday saying that there was no need for a rate cut rich clarity vice chair on the board reiterated that stance today that their economy continues to be in a good place but i think that there's an air of naivete about. comments right now simply because you cannot ignore what's going on with the coronavirus or even go so far as to say that the united states is not going to be affected that the united states' economy is not going to be affected by the coronavirus given that we're a huge resource for tourism tourism and travel here and we're not just seeing you know travel closing out of china we're also seeing conferences being canceled in cannes koon in spain clearly part of italy

making they've put themselves in this book carious position scary outlook for the future dammit danielle de martino booth former fed inside it thank you so much. thank you. and china announced on tuesday it will begin accepting applications for the tariff exemptions on roughly $700.00 products imported from the u.s. including pork beef soybeans natural gas and crude oil now the news comes as the country fights the corona virus outbreak which we just mentioned that has infected tens of thousands importers will have the opportunity to apply for the exemptions starting on the 2nd of march according to china's customs tariff commission of the state council now the exemptions will only be in place for one year and each application would need to be complete complete the approval process now meanwhile the coronavirus is taking a toll on apple's business the i phone maker warned on tuesday of lower sales in the current quarter due to the viruses effect on their supply chain which has caused the company's stock to plunge by 2 percent shaving nearly $434000000000.00 off the company's market value but worry n

up by way of monetizing it richard will host of the economic update and former fed insider danielle de martino booth thank you both so much thank you. and a federal judge in the united states dismissed some of the charges against their nose founder elizabeth holmes on tuesday however the court will keep charges of wire fraud in place now according to the initial indictment holmes and the company's former president romesh by one e coax doctors and patients to use the company's blood testing services despite knowing their notes was not able to produce accurate and reliable results in specific tests now the court ruled that since tests were paid by the patient's health insurance they did not lose any personal money or property in using the blood testing services now the court added that their words no evidence that holmes and balwadi had encouraged doctors to misrepresent the test to their patients homes about one and both pleaded not guilty to 11 counts of conspiracy and wire fraud when indicted in 2018 and kind of a fascinating take from the court on that because essentially they're saying you