the polish justice reform of 2019 infringes e.u. law. . reporter: the e.u.ays the reform puts the ruling party in effective control of the country's traditional system, and enabled the card traditional tribunal to fire judges arbitrarily, which is illegal interference with the judiciary. in 2021, the polish tribunal also said its national constitution took precedence over to you law, rejecting the bloc's legal framework. the standoff has snowballed into the question of billions of e.u. funds flowing into the country, with brussels threatening to freeze payment of coronavirus aid to poland and finding the country. but e.u. commission says poland is a repeat offender when it comes to violations of e.u. law, turning state media into a government mouthpiece, endorsing homophobia, and attacking women's abortion rates. on sunday half-a-million poles took to the streets in warsaw, to to say no to authoritarian poland. >> i came because i don't agree with what is happening. i want to live in a country where feel safe, where there is a free press, free courts, free s

adrian: guillaume, is it a realistic ambition for south america to have its own version of the e.u.the african union? how does the continent move past organizations that ultimately turn into clubs for ideologically aligned allies? what tangible benefits would such a grouping need to deliver? to outlast the continent's ever ha-shifting political landscape? guest: latin american integration has been a long-lasting lasting dream of the latin american region going back to the 19th century. south american integration is a bit more recent. it groups in actually visiting consensus, broadly speaking, between the center-left and the center-right. it starts in the 1990's and the president cardoso. then and are lula in the first decade of this century. the community of south american nations was created in 2004 and finally in 2008 unasur with the 12 member states. in fact, it was created as a nonideological and nonpolitical forum. 12 countries, some on the left, some on the right. the only comedy of nominator -- the only, denominator was geography. you had to be a south american nation. then f

it is not the e.u. just visiting the shores we also have visitors from other nations, india's prime minister modi wrapping up his time in the u.s. with the state and at the white house where tech leaders from apple to google to microsoft descended on the president's home. it is interesting that the biden administration pulling two things together, modi's visit and technology executives. >> what you're seeing is the entire tech sector saying we need to protect ourselves given the geopolitical strife that is happening with china and india looks like a compelling alternative. tentative steps right now but in all areas ai's, semiconductors, defense. all sorts of partnerships and deals for they are looking to fulfill what they and demonstration say is a push towards friend shoring. instead of off shoring and sending reduction to china, cutting down some of their vulnerabilities are going to a country that looks more friendly to the u.s.. ed: you have the dinner last night. our understanding is there will be

the new coalition government pledged to keep bulgaria, an important nato and e.u. member, on a firm pro-western track and supporting ukraine against the putin war crimes. in conclusion, god bless our troops who successfully protected america for 20 years in the global war on terrorism as it continues from the afghanistan safe haven to america with open biden borders. i yield back. the speaker pro tempore: for what purpose does the gentleman from tennessee seek recognition? >> mr. speaker, i ask unanimous consent to address the house for one minute and to revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> mr. speaker, last week marked 14 years since the tiananmen square massacre. up to 10,000 people were killed by their own government. run over by tanks and shot in the streets, all for demanding freedom. the grotesque actions of the chinese military have been remembered throughout history, and today, china continues to target, abuse, detain, and remove opposition. it is important for the united st

the european union has promised them candidate status for e.u. membership.opean allies are realizing, we can't have them in europe, we can't have them in e.u., unless they're a secure country. so our european allies are now moving further ahead wanting to see a process, a pathway for membership and nato for ukraine. >> we have just seen finland join nato. sweden is likely next. the swedish government now saying that they're open to allowing nato deployment on its territory. how important is that for nato? for sweden to join? >> i think the integration of the collective defense system is very important. we've done a lot over the years even as a nonmember. but having them as a member, being able to integrate fully when you think about things like air defense, air space coverage. when you think about sea lanes and sweden occupies an important coastline in the baltic sea and north sea where russian naval forces go in and out of st. petersburg. so integrating with sweden is very, very useful. as for where they go on membership, i think we have to see allow erdoga

nicole: way do you think the e.u.hat down the path they eventually went down, with stricter regulations for asylum-seekers? guest: we have a system in place in the european union which is not fair. we see there is a big part of migrants coming in to italy and greece and the other states in the mediterranean. so to solve these problems, we need those quotas and those distribution mechanisms that were talked about which i find really good. but they have tightened these regulations. this is the problem, we don't have fair distribution within the european union, we have some states making many -- taking many migrants, and some states not taking migrants. who need more justice in the european union. nicole: the fact that they are now obligated to pay money if they don't want to take any migrants in, is that not an easy way out of their obligations, as e.u. members? guest: the best case indeed would to take in migrants. but of course, it is a small step also within the european union. i think the compromise that they found

it's taken this long to get us moving unfortunately but we see the e.u. as i moving forward with their -- e.u.'s moving forward with their border adjustment mechanisms. around the world people are asking what the ambassador asked. what does worker-centered trade mean? we're finding a lot of opportunity. i wanted to lay out a few of the issues i think when we talk about worker-centered trade, what does it mean to us in the labor movement and a lot of it was reflected in the ambassador's speech. first of all, it is so important that we have this new narrative. and a new narrative means that we're asking new question, new assumptions. i can't tell you what it means when i travel around the world and everybody starts asking me, what does this worker-centered trade policy mean? the fact that people are even asking me what does it mean to put workers at the heart of a trade conversation when for 20 years we've been trying to keep workers out of the trade conversation. and so i think it's profound that we have new questions, we're intentionally talking about wor

and the e.u.ter we do think central banks will start cutting interest rates in the fourth quarter of this year. we do think asia has a slight edge with regard to consumption because of the fact that with rates climbing -- trying to trend lower, the income, actually start rising on the asian consumers. haidi: how are you feeling about the broader outlook when it comes to china and does it hinge on whether we get more meaningful stimulus moves from the government? kelvin: yeah, i think the chinese market is lucky to be in a good place for the time being, we don't expect the chinese government to unleern any bazooka-like changes on a short-term basis. despite the fact that the economy has slowed down over the last couple of month, it's still on track to keep growth above 5% this year. the slowdown is something that is manageable, and unless we get rates, con sums is going to be quite weak. the overall prognosis for china, unless the market is a concern. if you look at valuations, it is attractive at

e.u. and u.s. representatives speak with the minister, serving majority areas.alls for justice in the amazon rain forest, one year after the murder, this activist and journalist. ♪ we begin in ukraine. the commander of kyiv's grounds forces say his troops are occupying in bakhmut in their long-awaited counteroffensive. it comes on a day of claim and counterclaim as russia says it fought off a ukrainian attack. in his nightly address, president zelenskyy has hailed his troops military actions in bakhmut. >> bakh -- bahkmut we see how historically russia reacts there . the enemy knows ukraine will win, they see it, they feel it thanks to your hits, particularly in the donetsk region. >> charles has been following developments in the capital. >> the russian army says this video shows ukrainian military vehicles being forced to withdraw after a failed attempt to push into russian occupied territory in the southern donetsk region in eastern ukraine. >> on june 4 the enemy launched an unsuccessful attempt at a larger scale offensive. six mechanized and to attack itali

what it seems to do is try to cut down on e.u.mption where there are harmful and environmental practices. you mention things like child labor and deforested land. the onus is trying to cut down on what it is the farmers are potentially going to be doing or exposed to. really who is going to be impacted are the consumers, but it will be a lot of the companies that will have to implement this and pass on the cost to the consumer. they will really have to crackdown on this. tom: is this being welcome in places like the ivory coast and ghana, and what do you expect to see next? >> at the heart of this is really the cost. to be compliant is going to be expensive. they are concerned about who is going to bear the brunt of this costs. they are going to have to add on additional costs for traceability systems and other things like that. that could affect their own incomes at this point in time. i was speaking to the president of ghana who was saying he believes the country is going to be compliant with the new law. there's concern about h

the e.u.e in travel demand in the americas and europe, and they expect the chinese market to fully recover by the end of the year. >> demand from korea to the americas and europe is very strong, almost near the pandemic level. the yield is actually stronger than pre-pandemic right now. china is weaker, but it is still opening up so we expect towards the end of the year, we expect a full regaining of demand by china. >> do you think china will be as strong as everybody thought it was, when the economy reopen everybody expected a really strong recovery. the micro data is not pointing to that at the moment. do you think the chinese recovery story might not be as strong as anticipated? >> it might be in the beginning, but china is a very strong and very important economy in the world, and i believe demand will come back very sharply soon, hopefully sooner rather than later, but i believe everything will be back to pre-pandemic level by the end of the year. >> it's a key market for you, chinese tou

and e.u. markets to create the leverage for trading partners to meet standards for fair, market-based, and clean production at the same time. by flipping race to the bottom dynamics on their head to create a race to the top, we are working toward a world with a more diverse set of economies producing steel and aluminum, a world where democracies and open markets can flourish and drive standards that improve over time. as president biden says, we truly are at an inflection point. we are facing multiple challenges at the same time. so our trade policy cannot remain in a silo. we must be agile in making connections between our working trade policy and what is happening in domestic policy. that includes digital and technology policy which i would be remiss in failing to mention. at a time of rapid change and constant development, trade policy must respect the space for our domestic policymakers, regulators, enforcement officials, and legislatures to debate and determine appropriate frameworks gove

the e.u.y dominate that part of it and google disagrees with the european commission's view. it is a globally looked at issue. guy: we will continue to watch it. the stock market not paying much attention. ed and caligari -- caroline, bloomberg technology. this is bloomberg. ♪ alix: we are about an hour into the u.s. trading session. stocks pretty much doing nothing but you are not seeing any kind of pessimism and ahead into the moves -- and abigail doolittle tracking the moves. abigail: the best winning streak since november 2021 and into this fed decision, we have investors optimistic. it is interesting to see if they get whether or not -- they get what they expect. the russell 2000 and small-cap have been outperforming and now down a little bit so some of that coming out of the market. let's talk about a stock that has on -- bid on right tear. basically, three full weeks and pretty incredible and they raise prices and france asking them to build a tesla factory in france so that is one thin

he is now in moldova for a summit of the european political community, a newly formed grouping of e.uand none.u. members. he will be developing a coalition of fighter jets, a coalition of patriots, as well. fighter jets, part of the air defense system, that ukraine has promised with training but not the nato standard jets themselves. we want to go to the strikes in russian territory. ukraine has not claimed responsibility. a new front has opened up. the reaction has been notable, not just from russia but from ukraine's allies. >> yeah. it's true, paula. it feels like the scope of this war is expanding. doing so at a remarkable pace in recent days, stepping up shelling this morning in belgrade. and reaction, the kremlin says it's alarmed, the russian ambassadors in washington going even further in a statement overnight. slamming the latest usa package showing the u.s.'s indifference of what he called the crimes of ukraine, referring to the drone attacks in moscow earlier this week. the statements by the white house, saying the attacks are not worth a penny. we've seen comments from the

i know some people have wondered what kind of partner britain would be after we left the e.u. i say judge us by our actions. we're committed to our values as ever. as reliable as allies as ever. as attractive and investment destination as ever. but we're changing too. we're strengthening our relationship not just with old friends like america and europe but with new friends in the indo-pacific too. and we now have the freedom to regulate the new technologies that will shape our economic future like a.i. more quickly and flexibly. that is the future that we are creating in britain. confident, proud and free. let me close with a personal refor example. as joe mentioned -- reflection. as joe mentioned we have seen a lot of each other the last few months. i gather our wiveses have started spin classes together. we talked about our hometowns. joe is proud of his town, and i talked a bit about southampton. it was in southampton that john winthrop first spoke about his hope of building a city on a hill. and that reminds us that the relationship between our two nations is unlike any o

this is the reaction here from the new institutions and also the member states of the e.u.rent: international efforts are underway to supply ukraine with u.s.-made f-16 fighter jets. it comes after u.s. president biden lifted american opposition to the idea at a recent g7 summit. here is a look now at how this came about after relentless lobbying from ukraine's president, lome zelenskyy -- volodymyr zelenskyy. >> it was a powerful symbol of a country desperate for help. lot america's zelenskyy gifted a fighter pilot's helmet to his british hosts earlier this year. >> i will explain the writing. we have freedom. give us wings to protect it. >> it was a message she would repeat time and again whenever he could. >> we need more fighter jets. >> ukraine says fighter jets like the u.s. built f-16 would provide groundcover to ground forces, protect people and critical infrastructure from russian missile attacks, and help them win this war. now, it's allies have answered the call. pres. biden: the united states is going to begin training ukrainian pilots and fourth-generation -- i

. >> you are involved in negotiation at the german government level and the e.u. level. how are those discussions going. you already talking to? >> at the beginning, to understand, the intention is not what they have on the table, so we hope they are open to negotiation -- negotiating a new, but it is difficult rid but, we are working a lot to inform about the consequences of this. >> joining us now is oliver crook. he was holding that conversation. just walk me through what is going on here. this is a post brexit, a deal that was signed that ultimately was problematic because we are looking at a situation where the u.k. may not be able to invite -- abide by rules of origin and that will have a massive ripple effect into cross channel trade. >> exactly. without getting into the nitty-gritty, the rule is that to have more than 45% of the value, not source within the eu, it will give 10% tariffs to other places. the -- the you and the u.k. now face this because guess what? ev's cannot be made in europe. what you are effectively doing is throwing up a trade barrier between

he's been in contact with his allies, with his counterparts in the e.u., the g-7, turkey, most recently and of course, ukraine. the main message coming from the state department that he has been saying in those conversations is first of all, the united states does not change at all its support for ukraine. it continues to support ukraine. secondarily, they will continue to coordinate with u.s. allies and partners as this situation evolves. so they are trading notes on the conversations, trying to figure out where this all goes. as jeremy was saying, u.s. officials don't know what the end game is here, even though there has been this deal that has been brokered by the president of belarus, luke schencko. we have many questions. it is important to note that u.s. officials have been incredibly wary of the ongoing quickly evolving situation. they do not want to be perceived as having influenced or impacted or escalated this situation which is challenging president putin's power. >> absolutely. one story line we can't forget about is the americans imprisoned in russia right now. we've been f

e.u. saying you would be a procompetitive kickstart the cloud streaming market.s it about 1% of the gaming market? phil: cloud is very small right now in the gaming business. even on top of being small, it is usually a secondary use case for somebody already playing on consul, already playing on pc. while they may be traveling in los angeles, not saying i'm doing this, i did not bring my consul, and connecting to my consoles games on the cloud is a great way to keep playing. it is not really a separate market, it is the secondary use case. that is the majority of what we see in the cloud and while we are -- and why we are adamant that what we see in the cloud is relevant to what players are doing today and gives us avenues to smart tv's and mobile phones, but it is people engaging with their xbox games when they are away from their xbox. caroline: let's talk about your xbox to finish. series s getting more storage, series x more supply. how is the macroenvironment for selling this because you are in third position? phil: and consult your right we are in third beh

coming up, a warning from e.u. to twitter. crackdown on disinformation or face the consequences.our interview with the internal market commissioner . plus tech executive dissent on the white house. ceos of apple,

alix: i know when there was the summit in london there was the proposal from the e.u.50 billion eurosead out over four years. how does that amount sound to you? is that acceptable? ambassador markarova: first of all we are very grateful and it's one of the greatest outcomes of this conference that we have heard loud and clear this commitment for four years. and frankly that ukraine will be included in the european budget for four years. of course we are all hope this sum will be front-loaded. as you know we in the i.m.f. program right now. we just conclude add very productive visit of our minister of finance to washington, d.c. unfortunately, again, we still need a little support. this year the ukrainian budget is fully funded. we are discussing 2024 now. that will require all of our friends and partners, including all g-7 countries to help us to go through 2024 regardless of where we are on the battlefield. and how fast we will win. there is no question in our mind that we will. thank you to the european union, thank you for taking a lead in t we look forward, discuss with our americ

and the e.u. combined. economic ties are growing rapidly and "the washington post" even reports that china has continued construction on the suspected military facility in the uae. saudi arabia and the gulf are not seeking a divorce with the united states. they want close economic ties with china and close security ties with america. they want to be able to deal freely with everyone, including russia. if you want to see where russians have gone to escape western sanctions, visit dubai, where you will hear more russian than arabic at some hotels. there are growing ties with india and building new links with israel. most countries would like to pursue a policy that allows them to freelance. choosing friends in the west and east as suits their interests. if india continues down the path it is on now, saudi arabia for sure will likely be able to manage this balancing act. go to cnn.com/fareed for a link to my washington post column this week. and let's get started. ♪ >>> last week, the world got its first offic

and if that's why the e.u., the european union, i sued earlier the month threatening a break-up of googlebal $280 billion in sales each year. doj also sued earlier this year joining 17 states that have already sued led by texas. so it seems like a lot of people say that google has too much control when it comes to online advertising. gannett's stock down 70% the past four years, and you know google makes $60 billion in profit each and every year. $60 billion. 80% of that coming from online ads. google's stock, which stu varney has recently bought into, up almost 40% this year. but that's more of an a.i. bump than, i would say, anything else. stuart: it's a tiny sliver that i've got, i mean, an absolutely tiny sliver -- stuart: of, what, a trillion dollar company? stuart: that's a very fine sliver i've got with. good stuff. interesting difference between gannett is and its stock price and google, for hen sake. susan: yeah. and is it the chicken, is it the egg, is it just an excuse because we're not making enough money when it comes to print and newspapers. stuart: good question, and i don'

but it does have to be resolved and the e.u.it has used up a lot of capital giving generous concessions to canada and new zealand, and other countries as well. there are other sticking points also around geographical origins. things like naming feta cheese, percent go cheese as well, we know how proprietary companies can get. this is an emotional issue for australian farmers but it is still a significant one that will have to be resolved somehow. >> are there any time constraints? >> kind of. the date that everybody had in mind was july 11, which is when the australian prime minister will be in vilnius attending the nato summit and that will be a great time to get this done, having all the usual ceremonies, getting handshakes, photo opportunities and the rest. we are in the in game now, and that timeframe is still realistic, but after that, the european election season begins, campaigning gets underway and it is going to make closing a deal a lot harder. dan farrell will be heading back to europe before july 11, a bit of an 11th

you are a country that supports the idea of democracy, if you're a member of nato, if you're in the e.ur, you choose your side. >> cnn's fred pleitgen joins us from kyiv. >> reporter: for a while we've been hearing that a possible large-scale counter offensive by the ukrainians could be imminent. and it seems they are moving closer to that point. in an interview with the "wall street journal," president zelenskyy said he believes his country is ready for that counter offensive. he said they still need more things but he said they can't wait for months and he believes that a counter offensive would be successful although he said he's not sure how long it would take. one of the things we picked up was that he said the ukrainians need more air defense systems, specifically more patriots. we know the ukrainians have two of those. one provided by the u.s. one provided by germany. he was speaking of 50 in total to keep ukrainian cities safe. of course, it appears to be the case that the patriot is the only surface to air missile system so far that has been capable of shooting down theheimerso

e.u., they are dangerous, and they've taken advantage of a vulnerability and a very common piece of softwaresoftware companies' actually based in the u.s., but they have headquarters around the world. and, unfortunately, they have a series of three massive bugs since the end of may that russian ransomware group was able to take advantage of and get into various systems. neil: you know what's kind of, maybe chutzpah's the word, but to demand ransom from the u.s. energy department, in other words, if you want things back to the way your computers wereing you have to pay us. now, some companies small to large do that. what do you tell the department of energy, some of these other entities including nova scotia and the government that had been swept up in this? >> well, the u.s. government policy is to never pay the ransom, right? except the way that this specific russian group acts, which is called clop for some reason, they expect millions of dollars in ransomware, and they will actually exfiltrate, steal the data, and they will blackmail organizations with it until they pay up. and what we've

secretary of state antony blinken had a number of phone call with his counterparts today in the g-7, the e.uuts from the state department, it has really been a message that has been twofold. first of all, the united states continues to support ukraine. it is steadfast and it will continue to work with its allies and partners to track the situation. what u.s. diplomats are doing behind the scenes is trying to collect information about what has gone down over the course of the last 24 to 36 hours here. of course, working with u.s. intelligence officials. i think it is important to note that the u.s. diplomatic presence in moscow, the u.s. embassy in moscow, those diplomats are still there. that presence remains unchanged. and that is interesting because what it demonstrates is that as this insurrection was gaining speed, they didn't feel that there was a need to change that posture at all. so that is key. what we'll watch to see if any of those democrats over the next few days or so have any interactions with russian officials. thus far, we have not seen any interactions between u.s. and russi

it comes on the heels of a variety of antitrust lawsuits in this country and in the e.u.er players. >> neil: hitha, i was thinking of the apple system with the apps. i have apps when my sons were two and three years old. i have no idea. i still pay for them. they stick around. it's on me. i didn't cancel them. maybe i'll take the grandchildren. i have no idea. you can't get rid of these things. i'm wondering, this is bigger than amazon, bigger than a lot of these companies that sort of get you in to something that now becomes a cash cow for them. >> you know, neil, there's an act that was called the online shopper's act. this is the faith of online shoppers. shopping digitally. and this act, the ftc is saying that amazon is in violation of it. what this act meant is that when it comes to third party sellers, they can't do all of these sort of dark pattern-type to outreach to confuse shoppers. and because they're in violation of that, that's when we get back to the legal part of that. they're in violation of that. that's why? is something that will probably stick and going

try to predict what happens if the war in the ukraine ends, if, for instance, it does and does the e.u. reduce their sanctions? if they do and oil comes back on the global market from russia, does that mean the price goes up or down? because right now russian oil's trading at a discount. so because there is some overhang with buyers of russian oil, so you have to buy it cheaper, and the russian sanctions have been setting that price. what if that goes away? does that mean the price of oil goes up? i suspect it may but i'm not certain. cheryl: kenny, oil is a commodity the, it's priced in dollars, and that's an inflation story, that's a fed story as well. we have seen strength in the dollar amid all of this, and jeff makes a great point. he's invested in the energy sector, and that sector is doing well right now. >> right. and so am i. i agree we most of what jeff said. i do like energy. i'm in energy, we're in energy. and i do -- i'm actually a little bit surprised that we didn't see a little bit more of a reaction both in oil as well as in stocks today based on what happened over the

he's made calls to the top e.u. foreign officials and also turkey and ukraine.eiterating the u.s. support for ukraine, as you said, is steadfast. and the thing that we'll be watching for tomorrow is the secretary of state is going on a number of sunday shows including cnn, and that will be, if we don't hear from the administration between now and then, the first time that we have a real reaction from a top biden administration official. >> you have to think the secretary of state will be on those sunday shows and he will be right here on cnn. thank you. >>> wagner had yevgeny prigozhin known as putin's chef. the rise to prominence by winning contracts with the kremlin but he is one of russia's most elusive oligarchs. senior correspondent fred pleitgen joins me from berlin. you've been looking into who exactly yevgeny prigozhin is. for a lot of folks who may not be familiar with him, who is he? what do you have to say about this extraordinary sequence of events that we've seen over the last 24 hours? just incredible. >> reporter: first of all, i think you're righ

labor will be the next prime minister and you'll have 80% of being back in the e.u. >> tell me about berlisconi. >> right-wing populist. the personal thing. totally messed up the italian economy and contributed to italy being outside of europe and just -- >> he was trump before trump. there are a lot of people that we compare trump to. but berlusconi was trump. >> the big personality and the closest to him, you're right. >> let's talk about ukraine. zelenskyy said that the counter offensive has begun. reports out of russia, it seems right now the foreign ministry and the wagner group still having battles between themselves. it looks like a real sort of battle to succeed putin. >> yeah. i think that is the battle over if things go bad enough, what then happens. i take it much more seriously, joe, than i used to a few months ago. we're going to be asking ourselves every day, checking the temperature of something in the oven, how is it going. you measure this in months, not in days. so in a funny sort of way, let's see where they are in a couple of months and whether th

to me it goes to the heart of why israeli drones are used by the e.u. were battle tested in palestine over gaza and a number of years, the last 15 years. you see these almost israeli border industrial complex exported across u.s.-mexico border, for example, massive amounts of israeli surveillance towers made by israel's leading defense company dotted across the border. it is a key part of the u.s. arsenal across the mexico border. why was i company chosen by the u.s.? because it was tested first in palestine. to me the real concern in the 21st century as the climate crisis worsens, as resources are worsening, as refugee numbers have never been higher since world war ii, many western nations are sadly making a choice to not welcome people in as we saw with the recent awful shipwreck, saster in the mediterranean. but to build higher walls and more surveillance. israeli surveillance and technology and repression is part of that arsenal, but many nations are now buying because it is been used in their view successfully on palestinians in palestine. amy: do

i know some people have wondered what kind of partner britain would be after we left the e.u. i would say judge us by our actions. we are committed to our values as ever. as we liable an ally as ever, as attractive an investment destination as ever. but we are changing, too. we are strengthening our relationships, not just with old friends like america or in europe, but with new friends in the indo-pacific, too. and we now have the freedom to regulate the new technologies that will shape our economic future like a.i. more quickly and flexible, that is the future we are creating in britain. confident, proud and free. let me close with a personal reflection. the as joe mentioned here and i have seen quite a lot of each other in recent months, i gather our wives have even started to take spin classes together. and we were talking earlier about our hometowns, joe is very rightly proud of scranton and i was telling him a little about southampton in england where i'm from. not everyone knows this, a church in southampton before he set sail for these shores that john winthrop spoke a

the e.u., the bank of -- sorry -- the united kingdom. many countries within europe as well. ms. pettersen: thank you. how we compare to other highly developed economies on the recovery. so it sounds like in the emergency that we were in, the hopefully once-in-a-century global pandemic that the united states ultimately met the moment and that as the -- when the american people look what has been done, we should feel really good about where we are. but we know we have a long ways to go. and so i also want to acknowledge something that comes up often is rising debt leaves to increase in higher rates of inflation. doesn't that also include tax cuts, trillions of dollars of tax cuts that we couldn't afford that went on our rising debt? chair powell: in terms of today's inflation? i think if you look -- to your point, you look around the world, there's a common factor that has driven inflation very high in lots of advanced economies and it's the pandemic and it's everything about the pandemic. the closing of the economy, the reopening of the economy, the fiscal support, the monetary s

the e.u., united kingdom, and many countries within europe. end quote. he made one more point, i quote. our recovery is by strongest of any country period, ends of quote. look at the results more broadly. more americans have jobs right now than any point in american history. over the past two years more small businesses have been created than at any other period on record. more americans have health insurance right now than ever before in our history. i could go on and on. let me be clear, no one's saying things are perfect. there is a lot we need to do. we need to do more to keep our children fed. we need to do more to ensure every child gets the education they deserve. we need to do more to make sure the richest americans pay their fair share. we need to more to get guns off the street. . i'd rather them do anything that means anything. instead, we are here to have the speaker keep the most radical behind him. i reserve. the speaker pro tempore: the gentleman reserves. the gentleman from texas is recognized. mr. roy: thank you, mr. speaker. i yield two

and e.u. markets to create the leverage for trading partners to meet standards for fair, market-based, and clean production at the same time. by flipping race to the bottom dynamics on their head to create a race to the top, we are working toward a world with a more diverse set of economies producing steel and aluminum, a world where democracies and open markets can flourish and drive standards that improve over time. as president biden says, we truly are at an inflection point. we are facing multiple challenges at the same time. so our trade policy cannot remain in a silo. we must be agile in making connections between our working trade policy and what is happening in domestic policy. that includes digital and technology policy which i would be remiss in failing to mention. at a time of rapid change and constant development, trade policy must respect the space for our domestic policymakers, regulators, enforcement officials, and legislatures to debate and determine appropriate frameworks gove

in the e.u. on foreign corruption charges. not that long ago. they're aggressive when it comes to the global market. they're being aggressive right now in california about the procurement requirements under the infrastructure bill to make sure that there's a livable wage. i wonder if you can speak to that to make sure that we have people who are going to make money and we value them competing for it strictly adhere to the requirements in this law and starting in sacramento that middle-class americans and working americans benefit from this infrastructure and we're very careful about adhering to the requirement for a livable wage when they build this product. mr. gardner: well, thank you, congressman, for your remarks and for your support. as you say, this is not just an investment in mobility. it's really an investment in a new generation of worker skills and a new workforce. so we're really focused on creating that capacity to serve the needs of the nation and to serve the needs of our network. and as you rightfully say, this is a big increase

a look at their rationale with an expert in e.u., swasti rao. ♪ rishaad: you are backward bloomberg markets. we have been looking at coinbase, the sec, and so is su keenan. the sec looking at the action to freeze binance assets, one day after a brought a suit against coinbase. what do you make of this? what are people saying? su: a one-two punch from the sec, binance yesterday, coinbase today, and the sec getting a temporary restraining order to freeze binance u.s. assets if needed. again, their goal is to protect customers, they say. now they have gone after coinbase and this is being vigorously fought by coinbase. we will get into that in a minute. the allegations similar. framing how the sec's line of attack is going. they are alleging the firm acted as an unregistered broker and broke rules for the staking service. . , as established with the binance lawsuit, they are listing more than a dozen tokens as unregistered securities, so any exchange that deals directly with that is viewed as illegal. take a look at how the stock react

and the e.u., latin america's bilateral trade in goods with china grew dramatically from $14.6 billion in 2001 to $315 billion in 2020. that is a 21.5-fold increase since beijing joined the world trade organization. these insidious tactics have made china an undeniable economic superpower throughout unbounded, dishonesty and underhanded manipulation. in 2019 china, an active trade partner of the u.s., allowed the yuan to fall below the seven to one yuan to u.s. dollars peg it had maintained since 2015. this action set off a day of intense selling in global markets and in the u.s. the dow jones industrial average fell 2.9%, it's worst daily decline all year. by developing its currency -- pardon me, by devaluing its currency, china could effectively undercut competitors in the marketplace by offering lower prices on its exports and, according to the u.s. treasury department, gained an unfair competitive advantage in international trade. intellectual property theft, corporate espionage, forced technology transfer, widespread product dumping and currency manipulation are just a few of the

we are tracking some of these names here that have been under restrictions from the e.u..reaction yet. >> still ahead, the race for ai supremacy continuing as china taps a billionaire tech investor -- billionaire tech investors and the u.s. considers locking ship exports to you -- beijing. we discuss that later in the hour. but first, china's pmi's show the recovery struggling to gain traction and we look at their mounting economic problems tax. this is bloomberg. -- next. this is bloomberg. ♪ it can happen to the people who teach us and rescue us, the people on our team and in our family. it can happen to the people who serve us and the people who served. the people we work late with and stay out late with. it can even happen to the person in the mirror. opioid use disorder is a disease that can happen to any of us. it's possible recovery can happen to any of us, too. >> taking a look at how the yuan is trading against the u.s. dollar we continue to see that weakness at that 7.27 level and we are talking about the weakest level since november, it has already we can, what

, officials watching higher rates, even as we see a bit more steady retreat on inflation across the e.u for more, let's bring our executive editor for asian markets, paul dobson. when you look at the surge in tightening, it is playing out through australian bond markets as well, is this shifting the narrative as well get into some key central-bank decisions next week? paul: good morning. i am not sure that the narrative has changed. , you know, we are facing this generational spike in inflation across developed markets and central banks still having to deal with that, so the slightly unexpected rate hikes from australia and canada this week but says in that paradigm, of higher bond yields. the environment is less friendly for stocks, particularly technology companies, and the likes of gold and bitcoin and other alternatives that do not like higher interest rates. shery: a different picture playing out in china, though. looks like we will see more stimulus measures coming from the policymakers this year? paul: yeah, china is in a completely different position. it's inflation is decelerat

investors seem to be taking this e.u. issue in stride. haidi: what happens next?e commission invited google to appear at a hearing in brussels to present its counterargument against the commission's preliminary view. it also says it remains committed to creating value for the publishers and advertising partners and its focus of the eu they felt was very narrow. it's important to point out that the eu's case is part of a bigger campaign against u.s. tech companies. with the eu really wants to do is come up with a comprehensive list of rules for ai, for online technology and privacy and this is part of that effort. we should also point out they are targeting online advertising, which is south of its -- alphabets most lucrative business grading 80% of total revenue last year which adds to 225 billion. so stay tuned. but investors at this point appear to be shrugging it off. haidi: bloomberg's su keenan with the latest. let's look at the latest with crypto. a second south korean platform as the suspended customer deposits or withdrawals. there's market volatility and