: the two most powerful men on the planet meet to talk trade; president obama and chinese president hu jintao focus on the tensions surrounding the u.s.-china trade relationship and china's currency. >> tom: we talk with two china experts, and hear from a chinese factory owner about what currency changes would mean for him. you're watching "nightly business report" for monday, april 12. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. president obama kicked off a two-day summit in washington with world leaders on nuclear security. >> tom: susie, there's been a lot of anticipation about that one-on-one between obama and hu, and how they will work through tensions between the two countries. >> susie: high on the agenda: trade issues and getting china to loosen its hold on its currency, the yuan. the u.s. has been working behind the scenes to get china to raise

we'll have hu jintao from china. and medvedev and prime minister from. iran and north korea will not show up and that's probably for the best. there will be a state dinner. a heads of state dinner on the night of april the 12th. and then there will be two plenary sessions on the 13th that will focus on both national measures and on international cooperation to enhance nuclear security. more importantly, this is -- this is a big opportunity. i guess not since 1949 has there been such a big gathering of heads of state. and so as andrew mentioned, this will be an opportunity to discuss sanctions on iran. other pressing bilateral issues and, of course, some of these nuclear nonproliferation issues one month before that conference. on substance, it's a little trickier. and one of the questions that i often get is, what is nuclear security? what is this going to cover? not everyone agrees on which material poses the biggest threat or how big the threat is. and so one of the functions of this conference will be to obtain greater agreement. let's start with a co

i communicated that once again to president hu. i think china rightly sees the issue of currency as a sovereign issue. i think they are resistant to international pressure when it comes to them making decisions about their currency and monetary policy. it is my belief that it is in china's interest to achieve this rebalancing because over time, china will have to shift away from an economy that is solely or ranted on exports and it will have to start shifting toward an economy that is emphasizing domestic consumption and production and is preventing bubbles from building up within the economy. all that will be facilitated with a more market-oriented currency approach. i do not have a timetable but it is my hope that china will make a decision that ultimately will be in their best interest. >> a few minutes ago when you were exploiting the purpose of sanctions against iran, you said that the. was toe point was to change the calculations of the country. why has that not happen with north korea? >> i will not give you a full dissertat

president hu jintao is coming to washington for a nuclear summit. these are positive signs for the obama administration. is china really ready to back sanctions? they have said nothing in public. they are being courted by the iranians. the chief iranian nuclear negotiator travels to beijing, a sign that perhaps that tehran is worried about the changing chinese position. but>> our chinese friends say that it is a problem and it can be solved through negotiations. some countries should give up their incorrect actions pressuring intersections. this will be ineffective. >> washington would like everyone on board for the new sanctions because it sends a strong message. the price to pay for china's support might be a watered-down u.n. resolution. individual countries can impose their own sanctions against iran. first, the discussions at the u.n. actually have to start. >> what is the opinion in beijing? is president obama making progress in getting them on board? >> there is no indication coming from the chinese side but he would not expect that. what is

how are the new generation of leaders different from hu jintao? >> dramatically different. first of all, they're much more diverse. so the generation you're looking at that's running the country today, largely engineers, all shared a relatively limited sort of world experience because of the period in which they grew up. the so-called fifth generation coming into power you'll see just from a personality perspective-- and you've met some of them-- express themselvess very differently. some of them walk into the rooms and they feel like western politicians. you go the generation after that, the sixth generation, which are the guys in my cohort, late 30s, early 40s, they have an even more dynamic set of personalities. even more, largely speaking, suspicion of the united states. >> rose: even more in generation six? >> yeah. >> rose: this is the most important bilateral relationship in the world, isn't it, sam? >> i think it is and i think that one of the things that we have to realize is that while we are urging china to change its currency policies, which i think is exactly t

may, a couple of headlines coming out of president obama's nuclear summit, in d.c., chinese president hu jintao saying that the u.s. and china should resolve the economic and trade friction through consultation on an equal footing. he also comments at the nuclear summit that the two countries share the same overall goal in iran as far as the nuclear issue is concerned and at the same time president obama has reaffirmed the need for china to continue to take a look at its currency. maria, back to you. >> all right. thank you, matt nesto, with the latest there. we are back talking about higher taxes on a corporate level. marty, you disagree that ta companies will always pass on the cost to the consumer, right? >> right. there is uncertainty as to who would bear the burden of additional tax increases, so itt is no always correct to say it is passed on to the consumer. some of it will be borne by workers, and some of it borne by owners of the company. >> but i mean at some point if a company is seeing squeezed revenue and higher taxes thashg i are going to do something about it, right? so it

but what i said to president hu and what i've said to every world leader that i talk to is that words have to mean something. there have to be some consequences . >> brown: the president also announced today that a follow-up nuclear summit would take place two years from now in south korea. >> lehrer: and for more on the summit, we go to ellen tauscher, the undersecretary of state for arms control and international security. she joins us from the washington convention center where the summit is being held. madam secretary, welcome. >> thank you, jim. how are you? >> lehrer: just fine. first on the issue of iran, what exactly has the united states and china agreed to when it comes to the next moves on iran and its nuclear program? >> well, jim, i'm not going to go into the details of that because this is a very comprehensive discussion among many countries, as you know. secretary clinton met with the p-5 plus one which is germany last night. suffice it to say that the united states reached out its hand. president obama as the new president reached out his hand to the iranians for what

as secretary albright said, i think it's quite clear that president obama and president hu didn't just talk about securing loose nuclear weapons or fissile material. my guess is is that among the other things they talked about was how to deal with iran. now that's a proliferation problem not necessarily a loose nukes problem. but the two sides have had somewhat different approaches. where we have been pushing for sanctions and the chinese say sanctions probably is not the best way to go. i think this gives an opportunity to discuss and to formulate at the top possible level how they can proceed together for the goal that they both agree on. >> lehrer: do you agree with that, madam secretary, that something really important could come out of this because of china's past position and the u.s. past position and the two presidents talked today? >> i do think that something can come out of it. what i think is very interesting is to look at the parallel things that are going on. at the united nags they are working on a sanctions resolution. even at the highest levels, the kind of thing that

president obama met privately with china's president, hu jintao.that explosion. 29 men died last week. it was the worse mine disaster we have seen in 40 years. federal investigators were waiting for all of the bodies to be recovered. they are now beginning their investigation underground. >>> did you just buy that shiny new lexus gs-460 suv. ul want to hear what consumer reports magazine has to say about it. there it is. it is a rollover problem that happens when you are making a turn, the back end skids out. the problem is so serious the group is urging consumers not to buy the suv. they are calling on toyota, the parent company of lexus, to fix the problem for existing customers and fix it fast. >>> police in tennessee say they have not been able to talk with torre hanson, the woman at the senator of an adoption controversy. she sent her 7-year-old adopted son back to russia. the local sheriff says that the woman's attorney told them she won't talk unless a charge is filtd. this case is grabbing headlines across the nation and situations like thi

administration is pleased with a -- the progress so far, and president obama spoke with chinese president huintao by phone this week, and he's scheduled to scheduled to attend a security summit in washington later this month and mr. obama said today he's confident he can get u.s. allies, on board. >> president barack obama: we don't take any options off the table and we'll continue to ratchet up the pressure and examine how they respond. but we're going to do so with a unified international community, that puts us in a much stronger position. >> chris: iran's nuclear capability is the top american concern, there are also worries about its conventional weapons. the u.s. navy is a powerful deterrent, and, correspondents greg burke reports, from aboard the uss eisenhower. >> reporter: long range missile tests, locally manufactured naval destroyers, and just this week a cruise missile production line. iran is working hard, to project the regime's growing military prowess. tehran's saber rattling is likely aimed at discouraging a strike against its nuclear research facilities but also is making n

au hu el cardenal jaime ortega pidió la liberación de todos los presos políticos en cuba y el acoso de a una misa. >>> la ciudad juárez, una joven periodista fue asesinada, el estado de morelos parecía un pueblo fantasma y provocan terror a través de la internet, verónica del castillo afirma que la mayoría de las víctimas no son inocentes >>> sin vida quedó este policía de monterrey, luego varios hombres les dispararon, junto al cadáver sus verdugos dejaron coronas de flores y mantas donde s amenazan a más. la violencia del crimen organizado en cesa en juárez, este sffin de semana fueron asesinadas 7 personas, también aparecieron 4 narcos manta nuestro chihuahua donde se exige haya policía estatal de quienes alimentan a la narco de línea. >>> los agentes que tomaron el lugar del ejército en juárez, tomaron una banda, con 18 plagios de trabajadores, presión r de preso prempresarios y estudi >>> más del 90% de estos homicidios y ejecuciones es la lucha de carteles contra la droga >>> en morelos, refuerzos militares llegaron a cuernavaca, sobre presunta amenaza que hicieron vía internet c

the president met with hu jintao, who agreed to work with the u.s.ns against iran. >>> despite the traffic restrictions in place around the convention center, there have been very few issues. there was a major incident last night when a buy significantlist who collided with a national guard truck leading a motorcade. >> reporter: perhaps you can hear the activity around me here, we're starting to see a lot of police vehicles moving through the area. we've seen some motor kaids already this morning as day two of the summit begins. we've got widespread road closures and the roads are going to remain closed until about 8:00 tonight. despite that, we didn't see any major traffic tie-ups yesterday. drivers either avoided the area or opted to telecommute instead. we had rush hours that were lighter than usual. and the hope here is that people will continue to stay away today and we won't see any major tie-ups because of the road closures. unfortunately, the day didn't end well, there was a very serious accident, a fatal accident involving a d.c. national g

hu to set up a whole range of areas where the u.s. and china can cooperate. i may visit to china that both of us considered very successful. -- i made a visit to china that both of us considered a very successful. there are areas where we disagree and they are not new. i have to say that the amount of turbulence, as you put it, that occurred was actually relatively modest when you look at the overall trajectory of u.s.-china relations. at no point was that ever suggested that is not in the interest of both our countries to cooperate and that we had not only important bilateral business to do, but also, we are very important countries in multilateral sunday -- settings with issues that have to do with credit -- climate change and others. with respect to the currency issue, president hu and i have had a number of frank conversations. as part of the g-20 process, we all signed on to the notion that a rebalancing of the world economy would be important for us to sustain economic growth and the prevention of future crises. and china, like

but monday, hu jintao indicated he would support further discussion. >> china has a very active relationshipith iran. iran is developing nuclear energy. if china agrees to sanctions, they are putting at risk some other agreements they have with iran. >> just about an hour ago, the president had a news conference during which he announced that all of the leaders attending the summit agreed to work toward the goal of securing nuclear material within the next four years. >> now, your instaweather report cast -- forecast. >> cloudy skies and a steady rain kept temperatures below normal today. kent county on the eastern shore is drying out, but the rain is still coming down in annapolis. it will only be another couple of hours. this is one a little isolated past -- one a little, isolated patch in the eastern united states. the rainfall total was not that impressive today. it was less than 1/10 of an inch . 53 was the high today, 11 degrees below normal. rain has helped watch -- helped washed some of the pollen out of the atmosphere. up in hartford county, it is in the upper-40's. temperatures do

i was wondering if you could clarify exactly why you believe president hu jintao has agreed whether you think there will be an economic sanction with peace the chinese will sign off on and what you have told the chinese in terms of their concern about how much fuel they get from iran, with the u.s. can help with in that regard. >> here's why no, the chinese officials have had negotiations a new york to begin the process of drafting a sanctions resolution. that is part of the p5 plus one effort and the united states is not moving the process along. we have participation on the russians as well as the other members of the p5 plus one all of whom believe it's important for us to send a strong signal to iraq that there is violation united nations security council resolutions have consequences and the have a better process to take. now you are right, jake, the chinese are obviously concerned about what ramifications this might have on the economy generally. iran is an oil-producing state. i think a lot of countries around the world have trade relationships with iran and we are mindful of tha

but then it was announced president hu would attend.as president obama flew on air force one, the two presidents spent an hour on the phone together. the call was so long, in fact, the plane sat on the tarmac for ten minutes waiting for president obama to finish his conversation. in short order, the u.s. delayed the release of a report that many expected to admonish china for currency manipulation. then treasury secretary geithner extended a trip to india to drop in on the vice premiere in beijing. after that meeting china made clear it was now willing to address u.s. concerns on currency. a frequent guest on this show has called the u.s./china relationship a marriage of convenience. he says the two nations find theys in a marriage that neither can fully dissolve and neither fully wants. everybody always talks about the u.s. being literally indebted to china for hundreds of billions of dollars, that's true, but it's much more than that. it's a two-way street. we must not forget that china needs the united states, too. it needs america t

with respect to the currency issue, president hu and die have had a number of frank conversations --and i have had a number of frank conversations. as part of the g-20 process, we all signed on to the notion that a rebalancing of the world economy would be important for sustained economic growth and the prevention of future crises. and china, like united states, agreed to that framework. we believe that part of that rebalancing involves making sure that currencies are tracking roughly the market and not giving any one country an advantage over the other. and i have been very clear of the fact that it is my estimation that the rmb is undervalued and that china's own decision in previous years to begin to move toward a more market-oriented approach is the right one. and i communicated that once again to president to. i think china rightly sees the issue of currency as a sovereign issue. i think that they are resistant to international pressure when it comes to them making decisions about their currency policy and monetary policy. but it is my belief that it is actually in china's inter

the meeting between president obama and hu jintao was positive but they disagreed what exactly what was agreed on. russia said that they would back you in rushes against iran, beijing says not so fast. there has been no movement in their position. they have agreed to discuss sanctions in principle. the road will be long and difficult. - [inaudible] -- to respond to the effort to step down. they met last night in the capital of bishkek. president bakiyev says that he will resign if his family and he can be guaranteed safety. >> it has been a critical week for the president of kyrgyzstan. he fled the capital last week and he emerged in his hometown to say that he is ready to stand down. >> under what conditions can i resign? i need to guarantee that our people will stop running kyrgyzstan. >> his list of guarantees also included guarantees of safety for his family and himself. the self-declared opposition government which had been offering him safe passage from kyrgyzstan in return for resignation has changed its rhetoric. >> if he does not show up, we will hold an operation to detain him

but beijing announced today that chinese president hu jintao will attend a nuclear security summit in washington later this month. >> woodruff: we'll have an interview with white house national security advisor, jim jones after the other news of the day. for that, here's kwame holman in our newsroom. >> holman: record floods in the northeast and new england receded some today leaving widespread damage behind. rhode island was hit the hardest with entire communities transformed into lakes. the state already had double- digit unemployment and governor don carcieri said the deluge will only make things worse. >> we're going to have enormous costs in the loss of business. businesses cannot operate. people are out of work. we already have enough of that. there are big issues there. >> holman: parts of interstate 95 were due to reopen in rhode island, after being submerged. but amtrak suspended some trains for a second day. new federal rules for gas- mileage and auto emissions became final today. beginning in the 2016 model year, automakers' vehicles are to average at least 35.5 miles a gal

medvedev, or to get that much closer to it, and that the following week, the meeting with hu jintao and chinese. that may be overly ambitious, but that seems to be the game plan from my standpoint. the russians are closer on this. the hope is that you can get the russians and that will help to bring the chinese alone. i have always been intrigued by the idea of -- because the chinese traditionally have been quite happy to hide behind the russian opposition to sanctions and russian vocal opposition on a lot of issues, be it missile defense or nato expense and a lot of other ideas that the attorneys are not particularly enthusiastic about either. on the iran sanctions, it has been interesting because the obama administration has been pretty explicit in talking about this as on the reset, giving the russians to come on board. that is the litmus test. if you ask them whether it is the litmus test to getting the chinese on board, no. it is a pretty interesting and telling a change of affairs from just a few years ago. the russians support was viewed as, you get that and then you've got the c

medvedev are get that much closer to its and that's the filing week with president hu and the chineseand that may be overly ambitious, but that looks to be the game, sequencing from my standpoint. the russians are closer to us on this and the hope has always been that to get the russians to help to bring the chinese holon. i have always been intrigued by the idea of let's see if, the chinese have been quite happy to hide behind that russian who opposition to sanctions and a russian who local high position on issues including the expansion are others the chinese aren't enthusiastic about either. and on the iran sanctions was been interesting in this round with the obama administration and they've been pretty explicit in talking about this as on the reset getting the russians to come on board, that's a litmus test. now, if you ask him whether that's the litmus test with the u.s.-china relationship and i know it's not. which reflects the much greater leverage and that the chinese have in the bilateral relationship with the u.s. than the russians in particular and that's a pretty interest

some people think that may have something to do with our effort when president hu is going to be in the united states to try to get him on board for iran sanctions. i take it you don't think that the obama administration is doing the right thing there? >> i'm not too happy about a delay. if we get something specific from the chinese, okay. but what we are looking at for the national interests along help on sanctions against iran, let the nation pay for it instead of one specific industry. we have a real problem with the chinese. they are very shrewd and customarily outmaneuver us. they take our jobs and money and then lend it back to us and own a big part of america. let's watch exactly what is happening. if we get something concrete, a delay might be okay but we can't stand back and let them manipulate the currency and run us ragged on the economy. >> chris: senator kyl, the president and democrats are talking about even now that healthcare passed an ambitious agenda for the rest of this year during the healthcare debate when the democrats talked about and eventually ended up using rec

one is going to have been -- we're going to have 44 heads of state, hu jintao from china, medvedev, manmohan singh, and the prime minister from pakistan, benjamin netanyahu. iran and north korea will not show up and that is probably for the best. there will be a state dinner -- and heads of state dinner on april 12. there will be to plenary sessions on the 13th focusing on both national measures and international cooperation. more importantly, this is a big opportunity. not since 1949 has there been such a big gathering of heads of state. as andrew mentioned, this is an opportunity to discuss sanctions on iran, other pressing bilateral issues, and of course some of the nuclear nonproliferation issues, just one month before the conference. on substance, it is a little tricky. one question i get is, what is nuclear security? what will this include? not everyone agrees on which material poses the biggest threat or how big the threat is. one of the functions of this conference will be to gain greater agreement. let's start with a couple of facts and then i will leave a lot of time for questions.

the most critical president hu jintao of china. the u.s.o support sanctions against iran. >> the iranian government has to decide that its own security is better served by not having nuclear weapons than by having them. >> iran's been enriching uranium for electricity it says. north korea is also a concern. the world fears an atomic bomb could get into the hands of terrorists. >> the ramifications economically is, politically, and from a security perspective would be devastating. >> president obama says the 46 leaders at today'sÑi summit are coming with specific ideas how to secure all the loose nukes out there. notably absent is israel. its prime minister pulled out fearing criticism from muslim countries here. >> the israeli government will be represented at a very high level and you know,çó they shar our deep concern about nuclear terrorism. >> and president obama says, so does the world. so throughout the day, we'll see more an rivals of world leaders. they're get officials greet from president obama this afternoon. there's a working di

the development comes after a meeting with president obama and chinese president hu jintao. china was one of the last members to agree to sanctions. >>> the chinese president is one of dozens of leaders in washington for a nuclear summit, which wraps up today. there's just one item on the agenda. keeping nuclear weapons away from terrorists. yesterday's session got a boost when one country announced it would give up a nuclear stockpile. here's john hendren. >> reporter: for president obama, it was a major coup. >> by the time of the next nuclear security summit in 2012. >> reporter: a show of progress on the first day of a 47-nation nuclear security summit. ukraine has the world's third-largest stockpile of highly-enriched uranium. >> just 50 pounds of high-purity uranium, smaller than a soccer ball, could destroy the downtown of all our capital cities and kill tens if not hundreds of thousands of individuals. >> reporter: it's part of 2,100 tons of highly-enriched uranium and plutonium scattered throughout the globe. president obama wants it secured within four years to mak

chinese president hu will be in washington next week. we've got expectations that the president of china will discuss making china's currency more flexible. why is this important, and do you think it will happen? >> well, it's very important over the long term because unless chinese -- the chinese appreciate their currency, move it up relative to the dollar, we are not going to be able to sell very much to them. they will be selling a lot to us. our trade imbalance will continue to be out of whack. americans will not have the jobs that we would otherwise have. that chinese market is growing so fast we want access to it. the problem is that the chinese don't want to do that. they will do the minimal they can and want to do. they will maybe appreciate the yuan a little bit to appease the united states and some of the other nations around the world that have been yelling at china to do that, but china is willing to bear the cost, and it is a substantial cost for china, of keeping that currency, their currency, low, because you see their cur

we are seeing pictures of the leader of china, hu jintao. the president will be meeting with him on a sideline meeting from the sumsummit. the president will say he wants within four years to secure the vulnerable nuclear materials scattered around the world -- the loose nukes, as he calls them. he wants all those present to sign on to secure the loose nukes, acknowledge that nuclear terrorism is a serious threat and come up with their own ideas and plans to try to secure materials. he is really trying to present a sense of urgency here. we heard it from bill clinton, president george bush. now you have president obama saying, i've got intelligence to back it up. this is one of the most dangerous threats to world security, to american security. we need to come together and deal with this now. >> you know, at so many of these gatherings of world leaders the joint communique is written before it even starts. there there be a concrete agreement these countries will sign at the end of the summit? >> you bring up a good point. we essentially know

. >> on the day that president hu apparently made the big step, the chinese foreign ministry made a statement saying that its object in the u.n. is to achieve conciliation and diplomacy and added that pressure and sanctions cannot solve the problem. a definitive statement. >> on the other hand, the political reality is the administration has achieved some success in the isolation of iran. iran is totally dependent on china for its economic support, for its trade support. and they know that. they're not happy with them either. >> i can't believe what you guys accept. isolation. >> please! >> iran can live in isolation for 100 years. the issue is is it going to develop a bomb. our own military is saying it's going to have enough uranium in a year and a weapon a few years after that. >> mark, you asked what we get out of this. commitment from 46 nations to lock down nuclear material. the question is whether, in fact -- and we'll find that out very soon, whether we act on it. is it an important first step? yes. is it the solution, no. >> all right. let's talk about the supreme court. justice john

host: there is an article this morning -- speaking of china -- hu jintao will be in washington at the summit of world leaders monday and tuesday. and whether or not they should float -- the you want? guest: yes. host: what is the status and what effect does it have on us? guest: many economists believe -- china has a fixed exchange rate, and it is a controlled economy and one of the things the control is the exchange rate versus the dollar. many economists think there are many good reasons china should end this practice. as the dollar has fallen, the value of chinese imports to the united states have fallen and that allows more imports into the united states from china. there are a lot of pushes the rahm award for china to move away from this policy, but it is always in the front page of the papers. it is kind of unclear but it looks like the u.s. -- it is hard to know how the obama administration will handle it. whether they will make a big issue or pull back. the papers are saying today that because the leader of china is coming in applied -- implies the obama administration will ta

the president met with president hu of china a short time ago and although china is not yet on board for sanctions against iran they are moving in that direction, according to the white house. now, china, of course, is key here because they have a veto on the security council and also they've been reluctant so far because they get so much of their oil from iran. katie? >> couric: all right. chip reid at the white house tonight. chip, thanks very much. and as chip just mentioned, the white house said china is now ready to discuss new economic sanctions against iran, but elizabeth palmer in tehran reports sanctions or not, the iranians have no intention of stopping their nuclear program. >> reporter: only in iran does uranium enrichment rate this kind of pomp. on national nuclear day, president mahmoud ahmadinejad told the country it should feel proud. while president ahmadinejad urges iranians to celebrate their country's nuclear program, the rest of the world is coming together under u.s. leadership to condemn it and to press for tough new sanctions against iran. for example, harsh r

. >> they're going to hu? >> yes. >> who are they going to talk to? president hu? >> they're going to talk to the president. geithner is going to be stopping in, the treasury secretary >> when? >> 2:30 this afternoon. >> they're not talking to when, they're talking to hu. >> we have who's on first, what's on second, i don't know is on third. >> the point guy named wen and a guy named hu. >> why? >> did we look at gold? >> no. >> do you want to? >> sure. gold up by just $1.30. but sitting at 1,163.20 an ounce. right now let's get to our monday morning strategy session. joining us this morning is allen gale of ridgeworth capital management and robert stein of first trust advisers. gentlemen, if i could have you weigh in, first of all, where do you think treasury rates are going to be a year from now? are we talking above 5%? talking closer to 3.25%? allen, why don't i start off with you? >> good morning, thank you for having me on. i would say over the course of the next 12 months we do expect yields to break out to the upside after being range bound for a fairly ext

with respect to the currency issue, president hu and i have had a number of frank conversations. as part of the g-20 process, we all signed on to the notion that a rebalancing of the world economy would be important for a sustained economic growth and the prevention of future crises. and china, like the united states, agreed to that framework. we believe that part of that rebalancing involves making sure that currencies are tracking roughly the market and not giving any one country an advantage over the other. and i've been very clear of the fact that it's my estimation that it is undervalued and that china's own decision in previous years to begin to move towards a more market-oriented approach is the right one and i communicated that once again to president hu. i think china rightly sees the

chinese president hu jintao agrees to possible sanctions against iran for trying to develop nuclear weapons, canada will return unspent nuclear fuel to the u.s. and ukraine announced it would give up its weapons grade uranium. press secretary gibbs says that's enough material to construct several nuclear weapons. >> this shows the ukraine's continued progress in non-proliferation. >> the u.s. fwoonts secure all vulnerable nuclear materials worldwide in the next four years. >> there are materials out there that terrorist groups are trying to go after. >> by the close of this conference president obama hopes each country will sign off on a plan. >> i think the proof that we need to see coming out of that conference is did we really get anything substantive or was it used to be one hand by some countries for grand standing and by others to make pie us statements but there's no follow-up? >> iran and north korea were not invited in fact this weekend iran says it's holding its own nuclear summit. >> i'm kate amara. wbal-tv 11 news. >> baltimore's college of notre dame is looking to move up offic

spent most of the day in bilateral meetings with world leaders, the most important with the president hu jintao of china. -- again iran which has the nuclear program. the most important concrete achievement today was an achieve by utrain to send its highly enriched uranium to the united states for reprocessing. >> the announcement we've made today is what we've been hoping to be able to say. i think the president believes that the commitment that ukraine, chile and other countries have made as a result of these efforts is something that will make the world demonstrably more secure. >> what important, the agreement with the ukraine is the success of this meeting will hinge on the outcome of those talks involves china, russia, and a separate commit issue with china, that is the value of the currency. the readout ways also positive, but said that -- on an equal footing. i think that's code for china being willing to adjust the value somewhat, but not being seen as being pushed by the united states. >> john harwood, thanking very much. if we could avoid a trade war with china, that could be

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and amazing, one-hour conversation between president obama and president hu from air force one last week. the press pool didn't disembark from the plane. the president stayed on the plane. he was still on the phone coming back thursday night from boston. >> u.s.-chinese relations, unless the president goes to china, is not necessarily a television story, but this is really a big relationship, i think, not only for this administration, but this century. given all the things in play, obviously issues like human rights and so forth, but also underlying the fact that right now, china is our biggest foreign creditor. >> and china of course is the key player right now holding back on any kind of tougher sanctions on iran. "wall street journal" pointed out today that even the asset freezes so far have not had a great impact according to critics and that without china on board, a watered down version isn't going to go through. >> it's interesting as john noted that this surnsy report was delayed. they'll tell you it had nothing to do with getting china's cooperation. although we have seen times

reporter: president obama held one-on-one talks with his counterparts, including chinese president hu jintao. he wants both china and russia to support tougher sanctions, neither iran nor north korea got invitation to the summit. the u.s. charges both countries with violating the nuclear proliferation agreement. the u.s. isn't promising a bold new strategy before it wraps up tuesday night but the president says he feels good about what he is hearing. today the ukraine committed to getting red of their highly enriched uranium by 2012. he says there's an urgent need for a global plan. >> al queda has been engaged in the effort to acquire a nuclear weapon for over 15 years. >> reporter: president obama set a four-year goal to lock down all nuclear materials worldwide with an estimated 3 1/2 million pounds of enriched uranium spread across 40 countries it's a tall order. >> that is enough nuclear materials to build well over 120,000 nuclear weapons. . >>> still ahead on eyewitness news, being called a monstrous deed. an american woman returning her adopted son back to russia alone. >> and

. >> president hu, how's everything in beijing? >> gigantic and increasingly menacing. >> right. knew that. >> that's probably not what anybody said. but the president did cram in ten meetings of various lengths in two days, all heavily protocoled. equal time for india and pakistan, and the delicate dance of telling the leaders they would not be meeting the president but the vice president. diplomacy and protocol sometimes result in abnormal and sometimes funny human behavior. but the manic schedule of sit-down meetings, the entire errant prize of bringing 47 world leaders to the united states to try to build an international consensus on anything represents something big. and fundamentally different about this american government. in the old days, which in this case began in 2001 and officially ended on january 20th, 2009, in the old days we had a very different approach to international agreements of any kind. for example, in one week in july 2001, the bush administration abandoned the united nations draft accord that sets out ways to enforce the 1995 biological weapons convent

a one-on-one meeting with chinese president hu jintao is of chief concern.seeking china's support to ramp up pressure against iran over its nuclear program. joining me now, investigative journalist, author of "the secret war with iran." the sanction the united nations has put on iran because of nuclear ambitions and lack of cooperation with these investigators hasn't really done much to stop iran, it seems. >> on a tactical level, contessa, it has caused difficulties to iran to purchase equipment, issue letters of credit. but strategically, it didn't attach a significant price tag. indicated to the iranians if they continue with the project they jeopardize the existing of their regime and maybe think it over again. >> how important are the chinese for any pressure to make iran tow the line. >> the only chance of the world to prevent israel from striking iran, because israel see iran nuclear as an threat would be significant sanctions. there would not be significant sanctions without the aiding, participation of china. if going back to the chinese foreign min

those are the most important factorssh and we will be more important part of the visit with president hu jintao when he comes to washington. i disagree that the currency issue has been diffused, because it has been delayed and that is the right thing for secretary geithner to put out the currency manipulation report, but that visit with the chinese president will touch on that issue. >> all right. so, you know, all right, it is interesting because the china visit is important and we will watch currencies as a result of that next week. gentlemen, thank you. >>> and still to come, tiger woods lights up the course at augusta, but even if he does not put the green jacket on sunday, could the sponsors still be a major winner? we will talk to marketers about that. >>> welcome back. we saw the dow industrials touch the 11,000 mark today a minute before the close, and just missing the milestone in the final seconds. >> meanwhile, here are more stories we are following. taiwan's economic daily news reporting that htc has opened up discussions to acquire palm. neither palm nor htc is commenting on

i am just wondering, how much hu is still out there worldwide? what sort of new programs will be coming up at the summit to deal with the problem? >> the if you are asking for is the actual -- get your act -- if you are asking for the actual quantity, i cannot give you the actual quantity. i can say that there is still a lot of hu in various applications, both in and non- nuclear weapon states and also in nuclear weapon states. non-nuclear weapon states are covered by agreements. the report about the quantities. -- a report about the quantities and these kinds of materials. when it comes to the weapon states, we do not have the same kind of reporting or quantities there. i cannot give you a quantity figure there. i think the important thing here is to focus on the goals. first of all, if any of these vulnerable materials are very well protected wherever they are used or stored. evidence in this a guard is the fact that we have now completed a fifth revision, which is the commonly recognized document for presenting be -- presenting the goals for h

the most critical, president hu jintao of china. the u.s.to support sanctions against iran. >> iranians have to decide that its own security is better served by not having nuclear weapons than by having them. >> reporter: iran has been enriching uranium for electricity it says. north korea is also a concern. the world fears an atomic bomb can get in the hands of terrorists. >> the ramifications politically and economically and security perspective would be devastating. >> reporter: president obama said the leaders are coming with specific ideas on how to secure all the loose nukes out there. notably absent is israel. its prime minister pulled out fearing criticism from muslim countries here. >> the israeli government will be represented at a very high level. they share our deep concern about nuclear terrorism. >> reporter: president obama says so does the world. back live now on capitol hill. besides those road closures you've been talking about. here's a rundown of what you can expect. more arrivals of these world leaders through the aftern

i think it's good news chinese premier hu is coming here in two weeks to a terrorism summit with 45 countriesy that will be a chance for him and president obama to talk about the un where china and russia's support for multi lateral sanctions is key. congress is on board with strong debilitating sanctions on a bipartisan basis. the u.s. will be there. but it has to be multi lateral to be truly debilitating. by the way, yemen is now ground zero in my view for terror attacks against us. alaki who is an american yemeni who had a role in counseling the ft. hood shooter and also was involved in training the christmas bomber is at large in yemen, targeted by the yemenese, and we're helping. it will be very good news if we can take him out. >> i'm make that the last word. thank you very much. >>> up next, presidential leadership, where does obama stand after the health care debate and how will he lead his party in this election year? it's another cold one out there. better cover up those hands, or they'll be in for a dry spell. [ male announcer ] dawn hand renewal with olay beauty. it helps your han