let's check in on the treasurer, josh freudenberg, speaking to press.n the forecast trimmed a little, $5 billion instead of 7.1 billion dollars and the final year that followed one gear down from $11 billion. trade has weighed on sentiment and he is also saying the government is restoring the nation's finances to pay it down . don't miss our interview coming up with the australian finance minister matias common. we will discuss more content of that budget and outlook. this is bloomberg. ♪ i am kathleen hays in new york. .aul: i am paul allen you are watching daybreak australia. the back to the trade story. china and the u.s. agreed on a phase one deal to include the removal of tariffs on chinese goods. our next guest advice to the state and defense departments as a former deputy assistant trade representative. joining us is an adjective as are of law. -- adjunct professor of law. i am is hesitate for your opinion, the details of which are not yet public. are you reserving judgment here? >> you have to reserve judgment. there is a lot of detail we don't