the munich based institute for economic research study the tariffs on five thousand products to compare the e.u. and u.s. tax each other the results there are considerably higher barriers for u.s. products entering the e.u. than vice versa on average europeans charge a five point two percent levy as opposed to just three point five by the americans u.s. beef is especially hard hit it's taxed at sixty eight percent meanwhile the u.s. charges the forty nine percent levy on european tobacco products and twenty two percent on trucks. experts suggest lowering import duties on both sides while that would reduce european customs revenue it would certainly be cheaper than starting a trade war. in the air or to think that you can fight protectionism with protectionist policies it's like trying to tackle stupidity with

crude over the eighty dollars mark and earlier i spoke to came from the german institute for economic research and with iran starting to lose access to the global oil market and i asked her who stands to profit. of course those countries who export oil especially saudi arabia for example or the other opec countries especially because i had to cut in the previous month the oil exploration because our price was too low and now if the prices rising obviously the income from oil exports will increase and those countries do benefit and how high do you think the oil price will go. that's very difficult to say because it's always be a spoiler space speculation let's say that way because we don't know now we have a very high oil demand we have this geopolitical risk we still don't know what's ongoing in iran and the oil exploration there and here we see how high the fear is that the oil market will be under pressure in the future and this is why we see right now a climbing or a prize and i think this will continue in the next month ok so let's let's just play it through let's say the all present goes

story i'm joined by fed and fish the who is the chief economist at the german institute for economic research good to have you with us and i said that investors heaved a sigh of relief because that market rally we saw earlier today has somewhat slowed down didn't last for long does this have anything to do with the new interim premier the former i.m.f. official well i guess there is a certain skepticism that could already can actually turn things to the better because the structural situation for policymakers in italy is not so easy these days i guess there is a lot of skepticism and even if he has six months maybe even more to to verg on a roof on reforms for the italian economy it is quite clear that in the next election results will be again populist parties with a majority which can in turn lead to the same problems which we seem to have overcome in the last few days so i guess this is just a very short period where we're broke it's can take some breath right i mean we're used to political upheaval in italy it's never really running smoothly for long there but this is a different story th

you make it more exciting jeffrey tucker the editorial director of the american institute for economic researchhanks geoffrey pre-shared a pleasure by a good to see bart all right. and time now for a brief pause for the promotional cause but hang here because when we return we'll continue the crypto conversation this time with a focus on crypto currency exchanges with former ceased we see three exchange executives borstal yes he'll join us plus we'll sell one of the world's largest old woman of producers located in russia could be exempt from the u.s. sanctions on russia are want to file a big help us understand how that could occur there and here are the numbers at the closing bell back in a flash. in the heart of the swiss alps there's a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox swiss customs are here permanently on the site is controlled by them and they impose the opening times. opposite it is from his office the procedures in place of the strictest in all europe masterpieces by artists like pecans oh and modigliani i can't

story i'm joined by fed and fish the who is the chief economist at the german institute for economic research good to have you with us and i said that investors heaved a sigh of relief because that market rally we saw earlier today has somewhat slowed down didn't last for long does this have anything to do with the new interim premier the former i.m.f. official well i guess there is a certain skepticism that qatar really can actually turn things to the better because the structural situation for policymakers in italy is not so easy these days i guess there is a lot of skepticism and even if he has six months maybe more to to verge on a roof on reforms for the tell you an economy it is quite clear that in the next election results will be again populist parties with a majority which can in turn lead to the same problems which we seem to have overcome in the last few days so i guess this is just a very short period where we're brits can take some breath. right i mean we're used to political upheaval in italy it's never really running smoothly for long there but this is a different story this ti

a disorder director at the american institute for economic research great to have you on jeffrey let's talk about this extend suspension first of all are you surprised or not. i'm not super i'm not surprised i mean trump tries to keep everybody guessing all the time. you know economists use this word regime uncertainty as as a way of identifying a major cause of the lack of economic growth that's what the this is it's recent regime uncertainty nobody knows what he's going to do next but it's very harmful for investment in harmful for trading mallets and are harmful to the world economy not too much time to really change much what happens when we get to the presumably the same point months from now. right i mean he's going to probably he's going to extend it again but you know like the european commission said in a very pointed press release we will not negotiate with a gun to our head i mean and i must say as an american i'm very embarrassed and this is what we've come to i mean one of the great improvements in the world economy since world war two has been a kind of come a collegialit

for the end of the temptation all right claudia came for them from the german is that you for economic research thank you so much for this thank you and of course now with the iran decision out of the way washington can now concentrate on north korea bryne that meeting moving very much into focus right now monica u.s. secretary of state mung white pump a.o.'s problem to travel to john yang ahead of an historic summit between president trump and north korean leader kim jong un pompei it was said to finalize plans for the meeting there and going yang is also at the top of the agenda in tokyo where the chinese premier is meeting his a japanese counterpart shinzo ave and south korea's leader mungy him it is the first time in nearly three years at these countries have met for talks now they're aiming to come up with a common position ahead of the u.s. north korean summit and a move in that direction japan's as it is now ready to settle its decades old dispute with north korea. cut. the seeks to settle beyond fortunately want on past with the north normalize if north korea takes concrete steps to aba

world crypto currencies jeffrey tucker the editorial director of the american institute for economic research jeffrey thanks as always for joining us you go to so many of these events i imagine you get tired of them but this one in new york city seems to have a few notables including fred smith the c.e.o. of federal express has said that block change has been the potential to completely change everything jeffrey logistics like that x. and other transportation seem to be like the real natural place for block change to evolve is that what you're seeing and what are the other areas. well you know anything that requires documentation record keeping an immutable records audit trails which is basically all human relationships can be blocked chained in fact we're all going to be blocked chained you know and ten years of this is what's happening token as they let the whole world be tokenized as far as five. and i love that we're finally getting some respect out there you know i've been around since two thousand and eleven two thousand and twelve and those are back in the days where you never mention

the munich based institute for economic research studied the tariffs on five thousand products to compare how the e.u. and us tax each other the results there are considerably higher barriers for u.s. product entering the e.u. than vice versa on average europeans charge a five point two percent levy as opposed to just three point five by the americans u.s. beef is especially hard hit it's taxed at sixty eight percent meanwhile the u.s. charges a forty nine percent levy on european tobacco products and twenty two percent on trucks. experts suggest lowering import duties on both sides while that would reduce european customs revenue it would certainly be cheaper than starting a trade war. in the air or to think that you can fight protectionism with protectionist policies it's like trying to tackle stupidity with stupidity. and if the conflict intensifies people could end up losing their jobs as a result a big development in the us mobile telephone sector t. mobile us which is owned by germany's deutsche telekom agreed to acquire rivals that will combine the largest wireless carriers in the

we are again joined by jeffrey tucker of the editorial director of the american institute for economic research jeffrey thank you for being with us again we always appreciated the boom busters out there all know you don't care one lick for regulation and i agree that regulation can be stifling import innovation but do you think there's any way that kryptos will avoid being regulated as we go forward. i think they're going to avoid it more than you think i mean you look at this i've had i've had people tell me for five years oh government's going to get rid of it you know we're all doomed you know that hasn't happened yet i think i think part of the problem is the regulators don't entirely understand it and they do have a sense that they could actually cause more harm than good and that does seem to be anything you know i think last time i was with you bar we talked a little bit about the new york case that was the regulations were a complete mess and i don't think anybody wants to do that this this time around so yeah i think there's going to be some very late expected to be a little the light

he was working as an economic research analyst as one of japan's most important think tanks. when he wasn't doing those things i was organizing radical activist in japans society. for years they didn't. okawa backed speeches and challenged western global -- in early 1930s he funded uprising and assassination of a prime minster. signified moment of japan's inspiring democracy and defeating control of the military. late 1941 days after pearl harbor he brought radio lectures that outlines western political aggression and reminded prophesy he made back in 1925. that japan and united states will meet in life and death struggle for world order and that japan would win. his exceptional intelligence came fused with a quick temper. sort of enlightened explosivenessexplosiveness. one contemporary said okawa had too much education to be patriot and too hot headed to be a scholar. he was improblemmed twice. he's been called japan for his ideological convictions. this ideology of okawa shuemi this idea of uniting nations under japanese leadership and opposing western force, he called this

you make it more exciting jeffrey tucker the editorial director of the american institute for economic research thanks geoffrey pre-shared a pleasure by a good to see bart all right. and time now for a brief pause for the promotional calls but hang here because when we return we'll continue the conversation this time with a focus on crypto currency exchanges with former cease we see street exchange executives for still yes he will join us plus we'll sell one of the world's largest old woman of producers located in russia could be exempt from u.s. sanctions on russia our correspondent allan hyla bitch help us understand how that could have and here are the numbers at the closing bell back in a flash. join me every thursday on the alec simon chill and i'll be speaking to guests of the world of politics or business i'm show business i'll see you then. a little too late so you think that i'm outside this time when the truth is that i know that i just didn't mind. when i left that i sat next to him and i think a lot of those made. it was you know those are just a lot of these really. slow. down and.

usda's economic research service released a new report earlier this month. businesses that receive vapg support are less likely to fail than nonrecipient businesses, and businesses that receive this support also employ more workers than nonrecipient businesses. this amendment would also exclude beer, wine, distilled spirits and hard cider projects from being eligible for vapg. it is completely arbitrary and foolish to restrict these products. in my state of maine, there's been an explosion of craft breweries, distilleries and cideries that are contributing to the local economy. two years ago an orchard in maine received vapg money to increase production of hard cider and fruit wine. this provided the farmers with the opportunity to diversify revenue and reach new markets. this may be a very small program but it can make a big impact on farmers and rural communities in states like mine and across the country. i urge my colleagues to oppose this amendment and i yield back. the chair: the gentlelady yields back the balance of her time. mr. newhouse: i'll reserv

the editorial director at the american institute for economic research jeffrey tucker told us trump has been thinking about waging a trade war from the very start trade war is what he intended from the moment he put his hand on the bible and took the oath of oath of office i don't think he wants to come to a good resolution to this complex he wants to create the conflicts and then keep creating and keep creating the conflicts is a convinced economic national he really believes in this in this part that it's he can create an american national machine or production that's not the end of it on europe canada and the rest of the world that this will somehow be good for america don't trump believes in a zero sum kind of world it's like either america wins or america loses but it's very difficult to say who's got the most to lose everyone has something to lose american producers and consumers and all of europe and producers and consumers i must say is an american i'm very embarrassed and this is what we've come to. a leading cancer specialist in russia is raising awareness of the dangers of la

september when election season began jose marino is a political scientist working for the center for economic research and teaching he joins us from mexico city and also in mexico city we have under lucia no who is a journalist who routinely covers the violence happening throughout the country so jose as you were listening to those two politicians talking about their every day dangers this is their campaign life what was the first thought that came to your mind as you're hearing that are unique special to be find to unusual case this world. boden for go look at any. of them or. so or. go no they're not normally there are. a lot of the year. so we often talk about violence in mexico and illusion and i often ask you so what do we do about this when it was the first candidate debates so this was back in april some of the candidates were asked what are you going to do about this violence this upsurge in violence during this campaign season john holdren was the reporter and this was how we captured that little bit of a question that was asked back in april have a listen everybody. the first presidential de

and it wants concessions from brussels gemini's institute for economic research study tariffs on five thousand products it compared to how the e.u. and us tax each other the results there are considerably higher barry is for u.s. goods entering the e.u. on average the institute says europeans charge a five point two percent levy compared to just three point five percent by the americans u.s. beef is particularly hard hit it's taxed at sixty eight percent that's to protect film as in the e.u. meanwhile the u.s. charges a forty nine percent levy on european tobacco products and twenty two percent on trucks with the aim of protecting american farmers and vehicle manufacture as experts suggest lowering import duties on both sides while that would reduce european customs revenue it would be cheaper than a trade tool. it's certainly a lot at stake there are business editor have you got to give us is here with us that have it i imagine a lot of people in germany this morning sighing are breathing a breath of relief for now at least at least for now and especially because yesterday since the

but the question is will europe backpedal at the top director of the american institute for economic research jeff we took a thinks that term has been thinking about trade wars from the start. trade war is what he intended from the moment he put his hand on the bible and took the oath of office office i don't think he wants to come to good good resolution to this complex he wants to create the context and then keep creating and keep creating the conflicts is a convinced economic nationalist like he thinks he really believes in is in this part that if he can create an american national machine or production that's not the kind that is on europe canada and the rest of the world that this will somehow be good for america don't trump believes in a zero sum kind of world it's like either america wins or or or america loses this is not the right way to describe international trade relationships it's about cooperation among among producers there it's very difficult to say who's got the most to lose everyone has something to lose american producers and consumers and all of european producers and cons

we will be joined by the chief china economist, head of asia economics research.ll be talking to us and a preview and analyze the numbers as we get them. this is bloomberg. ♪ mom, dad, can we talk? sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. >> asian stocks making gains this tuesday. all major markets coming back online. the dollar back at 2018 highs. president trump said he would be revealing his iran nuclear deal 2:00 p.m.omorrow eastern time. china will be sending his top economic team to washington. hopefully avoiding an all-out trading war. haidi: also coming up, chinese regulators will soon be targeting financial over fears of failure. this is "bloomberg markets -- asia." haidi: all major markets

let's go live to alexander main senior associate for international policy at the center for economic policy research in washington thanks for joining us great to have you on the program what do you think the u.s. has chosen this type of restructuring this type of sanction and what's the ultimate goal here really why now. well you know you have to wonder what the ultimate goal is because you know you had an election process that actually by all accounts was free of any major irregularities that was competitive in which you had a genuine opposition leader who was participating and the choice of both the u.s. and of course some of the major opposition parties in venezuela was to call for a boycott and it does seem that that was widely followed i mean the story here is that these elections really were won by a very wide margin by mature oh but there was a very low turnout and in fact polling from just a few weeks ago indicated that had there been a high turnout that is if. the opposition parties and also the u.s. . had you know basically supported these elections and you know mobilize voters. you might

he wasn't doing either of those he was working as an economic research analyst at japan's most important think tank. when he wasn't doing any of those, he was organizing radical activist groups to see his ideas achieved some tangible impact on japanese society. for years and years they did. in the mid '20s his books and speeches urged japan to unit e east asia and challenge the western. it was an effort that prepared the japanese people for war in the eyes of the tokyo trial accusers. in the early 1930's, he funded the uprising of assassination of prime minister and signified the moment when japan's aspiring democracy effectively exceeded control to the military. late 1941, days after pearl harbor, he broadcast the popular series of radio lectures that outlines the history of western political aggression and reminded learners of prophesy he had made back in 1925. that japan and the united states would meet in a life and death struggle for world order and japan would win. his exceptional intelligence came fused with a quick temper. a sort of enlightened explosiveness that aspired descript

edward strengthen joins us from the president of the american institute for economic research and professor at trinity college. let's first start exactly what the chinese response to all of this. the china daily actually made an interesting statement on behalf of the government if you will. here's what they say. china will stand up to the u.s. is that the paper is saying this morning. bullying is necessary and is a champion of globalization, free trade and multilateralism will have strong support for the international community. this does not sound like a country that is ready to cave on any of the president's demands. >> sure, yeah. the united states government is proposing all types of terrorist, which are basically taxes on american consumers, american manufacturers. that increases races. the fact that china is having some pushback on that, it totally makes sense to me why they would want to have their goods taxed more. the administration is proposing reducing it on canada, the e.u. and china once to say what about us. true to the president has been clear that he believes that china is t

vonnie: our thanks to ethan harris, head of global economic research at bank of america-merrill lynch he wrote a book on the ben bernanke fed as well. thanks to him for being patient as the president made comments, heading to dallas for a speech at the nra leadership for later today. still to come, said in focus. we speak to the former fomc governor of the federal reserve bank. that is coming up in a little bit. this is bloomberg. ♪ vonnie: it is time for etf friday. here is julie hyman. vonnie,hank you, appreciate it. there is one etf firm that is bucking the trend of low fees. here to tell us more is tom from bloomberg intelligence. this is really unusual. one of our themes of etf trend is that low fees are winning out. chicago,burbs of naturally, the coverage of the industry leads us to blackrock, leads us to vanguard, because of the fee argument. it is almost like an enigma. i looked at all the average fees for each etf sponsor. julie: the big companies you are talking about. >> vanguard is 11 basis points. six times more than a vanguard etf. it is not just that you have one produ

to not onlyco defend but explain how his capitalist policies have brought back this b great economic researchis isn't the democratic party of i john kennedy or even bill clinton. this is the elizabeth warren, bernie sanders party that's been taken over by socialists and progressives, and they can't let it appear like donald trump is being successful because it puts life to the notion that mcdonald's policies were in the best interest anyway. >> laura: while, hillary mentioned that the other night, the whole capitalist thing. but the parties have moved so far to the left that it has left america. andy, obama said in 2016, how does he expect to bring these jobs back? not going to happen. he's bringing some of it back so he can encourage companies to repatriate their capital. that's not something you want to do. apples, all these big companies. it happens by actually not treating business as the enemy. >> you look at every report on gdp by quarter three in the obama administration and the problem was, the reason why it was so slow was because businesses were not investing. 15 months and business

and it wants concessions from the block the munich based evil institute for economic research study to terrorism five thousand products to compare how the e.u. and the u.s. tax each other the result that considerably higher barriers for u.s. products entering the e.u. than vice versa on average the institute says the europeans charge a five point two percent levy as opposed to just three point five percent by the americans u.s. beef is particularly hard hit it's taxed at sixty eight percent that's to protect farmers in the e.u. meanwhile the u.s. charges the forty nine percent levy on european tobacco products and twenty two percent on trucks with the same aim of protecting farmers and vehicle manufacturers over their experts suggest lowering import duties on both sides while that would reduce european customs revenues would certainly be cheaper than starting a trade war. or. it's an error to think you can fight protectionism with protectionist policies it's like china to tackle stupidity with stupidity. and if the conflict intensifies it could result in lost jobs. all right so certain

with me now, cnbc's dom chu and brendan greely, editor of the economic research note.g -- there we go, women's bond club ringing the bell today, one of my old favorites. how do you take this number? >> so the number was mixed. that's the reason why you're seeing a bit of a mixed reaction on wall street now. stocks are going to open just fractionally lower. what a lot of traders and investors are going to start to try to digest is whether or not this is overly bullish or overly bearish. the reason we're saying that is because we are still growing jobs. so that's important. the unemployment rate is falling to, you know, multiyear lows at this point. so that's a good thing. we haven't seen a 3.9% print for unemployment in quite some time. the issue is if you start to kind of peel back a couple layers of the onion, labor force participation, the number of people out there work or trying to find work has now fallen to the lowest level since january. that's a quirk. that's going to be one of the reasons why the unemployment rate is falling. if you look at average hourly earn

jahangir aziz, head of emerging markets economic research at j.p. morgan chase. a feature on the bloomberg terminal, interactive tv function, tv . you can catch up with previous interviews and dive in to any bloomberg functions we talk about. become part of the conversation like sending instant messages during programming. this is for subscribers only. tv . this is bloomberg. ♪ ♪ adding to the lunch break in tokyo. the state of late, a date of green across. a 200 point game to date. the broader market not doing quite as well. 39 cents again. let's look at movers. mazda a company that has seen change at the top with its new chief executive coming in. retiring effectively, or becoming nonexecutive. price up 1.3%, mitsubishi ufj, share price under a little pressure. we have mizuho moving slightly in the opposite direction. japanese banks dumping record numbers of foreign bonds. is investing in capital markets and hiring more senior high-yield sales staff. that is the tokyo lunch break upon us. this is bloomberg. ♪ mr. elliot, what's your wifi password? wifi?

i know the chairman talked about some of the dollars that you were using and you get some economic researchers here that something like 40 of them. they're able to do some self-directed research for you. is tha productive? >> i haven't found the productivity of it yet. we could talk b about it if further in another question. yes, the research that's not aimed towards the bureau has caught my eye. thank you. yield back. >> the chairman will recognize miss maloney. >> mr. mulvaney, thank you. just because i'm engaging with you at this hear, that it is not an acknowledgment that you are legally entitled to be acting director of the bureau. i believe dodd frank was clear in this matter and that leandra english is the lawful act iing director of the bureau. that being said, i have some questions. first of all, how long have you been at the bureau? >> november 24th. what is that? five months maybe. >> under your predecessor, the bureau was bringing about four enforcement actions per month to protect consumers. how many actions has the bureau initiated? >> none since i've been there. >> so it's zero

and the key point is that people are just doing it anyway there's been a lot of economic research thatze gambling, you get more of it not only do you get more of it, but several studies have shown that you get less spending in other areas of the economy, including entertainment. it syphons money from other areas of the economy so as a policy tool, first of all, the states that have the most gambling are some of the states like new jersey and new york with the highest taxes. it hasn't held down taxes. new jersey has persistent budget problems and they have more gambling than just about anybody that hasn't helped the budget. so this almost sends t triumphalism about it. and it doesn't have the benefits that many proponents have said and we have been watching this for 50 years now. >> do you point to california and what happened with pot tax revenue as proof of your argument >> well, well -- california's anecdotal evidence when they actually legalized the lottery years ago, the california association said in the first year their sales went down 5%. and some big california grocery chains s

he leads the department that comprises all technical, engineering and economic support research and technology transfer. then we've got mark cooper, director of research at the consumer federation of america. mark is responsible for energy, telecommunications and economic policy analysis. then we have john howit who is a senior analyst at the nashville consumer law center. he's been involved with policy issues since 1981. he manages products related to low income, energy affordability and efficiency programs, consumer protection, rate design, and utility grid technology. and last but not least, we have lawrence daniels who is the director of litigation for the d.c. office of people's counsel. lawrence has an extensive background in the electric and telecommunications industry. since january 2000, lawrence has worked for the office as a regulatory attorney advocating on behalf of consumers' interest in a number of grid case and telecommunication cases. i'll turn it over to jim to get us started. >> thank you. thank you all, it's a pleasure to join you. really an august group of mark, john and l

economics research director at the gulf research center. now, let us get back to it from generale. at the price of oil? do they look at the moderate inflation increase or take it as a job done? enda: they are supposed to look through it? kit: we know that when oil prices go up, the push inflation up. and we know that the inflation comes down unless the price keeps going up forever. by you and i can see on our screens every day, that inflation has traded in the market moves with the oil price. we always struggle to completely look through it. thingsbeen one of the that has encouraged concerns about monetary policy. francine: over all, for your models, and this goes back to emerging markets, if the dollar rises, emerging markets borrowing in dollars, it makes the life difficult? kit: yes, the world is a happier place when the world is not going up. we certainly don't want dollar accommodativet pricing of the dollar, it is they're happy space for emerging-market investors. francine: when you look at markets globally and fx, where do you see the main inflection point? is there somethin

that's according to the centre for economics and business research.d dad" equivalent to a near £6 billion mortgage lender. a planning row between the singer robbie williams and his neighbour, the former led zeppelin guitarist jimmy page, will be heard by officials in kensington and chelsea later today. mr williams wants to build a basement with a gym and a 30ft swimming pool underneath the garden of his grade ii—listed home in west london. but mr page who lives next door has told the council the proposed work would be "catastrophic." let's have a look at the travel situation now. 0n the tubes — the northern line is part because of over running engineering works. 0n the railway — thameslink are reporting some cancellations a knock on from the new timetable so check before you travel. 0n the m25 the exit road atjunction 1b is shut because of a gas leak in the area. the a225 that runs alongside the m25 is closed shut northbound as a result and the princes road interchange is partly shut. in clapham the traffic lights on wandsworth road as a result and th

brought is the co-director of the center for economic and policy research in washington he says argentina's government could have avoided going to the i.m.f. . they are not facing the kind of situation even that they were facing in the depression from one nine hundred ninety eight to two thousand and one which of course the i.m.f. is quite a bit of fault for are. very much worried about going back to the i.m.f. you know poverty rose during those few years from eighteen percent to forty two percent of the population and that was a country there was you know not long before that one of the richest richest in america i think perhaps they think that this will restore credibility with the markets. that's kind of the way they look at these things and i think also it's way and this is typical in many cases of the i.m.f. where the government wants to take measures that are going to be deeply unpopular they're going to cut spending most likely could possibly push the economy into recession and they use the i.m.f. as cover the i.m.f. is making us do that we have to know we have an agreement. and so i