kayla tausche has more on the trade developments from the white house tonight. kayla?> bill, two months into an escalating trade fight and after more than two hours behind closed door, theeaders of the united states and the european commission emerged to announce a suspension of the tit for tat moves that have been escalating relations between the two, and because of a new deal.re here'sdent trump. >> we also will resolve the steel andf aluminum tar issues and we will resolve retaliatory tariffs. we have some tariffs that are retaliatory and that will get resolved as part of what we're doing. >> so thosenomic weapons will be laid down. the european commission said that as long as negotiations continue in good faith and no new action will be put in place. >> as long as there is safety,u ss one party would stop with the negotiations, we will have further tariffs and re-assess e existing tariffs on steel and aluminum. >> so what does this deal look like? the european union will work toward bing more soybeans and buy more u.s. natural gas. they will try totrmline regulatio

kay kay kay kayla tausche has more on the super powers?dbag, sporting equipment and building materials among the new items in the crosshairs of the u.s./c the trump administration could slap tariffs on $200 billion on chinese goods on top of 0 billion already targeted. china last week began retaliating u.s. crops. the white house has prepared new etriffs in response. president trump tg from the nato summit that he's always thinking about our farmersng sa for years, other countries' trade barriers hav d beentroying their businesses. china's commerce ministry said tuesday it would again hit back with firm and force will measures. experts say that tool box is >> china perhaps has a more diverse set of tools and is more willing to color outside of the lines. the u.s. may have similar measure, but we don't employ themiven our commitment to market values, the liberal economy. .s. companies are worried about rising prices and roadblocks to business. >> i don't tnk there's any question that china is a violator on intellectual property issues and t

kayla tausche is looking at that >> part of that agreement, two sides will hold off on announcing newiffs, that would include new u.s. auto tariffs and any eu retaliation planned in response. the aims of the dialogue, lower tariff barriers, increase exports and make changes to the world trade organization steve mnuchin says reaching those goals will take time. >> the first issue that we'll begin negotiating is to resolve steel and aluminum tariffs and retaliatory tariffs. phase one is to immediately resolve those issues the eu, i think you'll see pieces of this roll out. it is not one major agreement, it will be pieces we agree over time. i think we're making a lot of progress >> mnuchin said this deal is different from a similar truce with china reached in may that proved to be very temporary. two weeks afterwards, they bought more soybeans and energy. mnuchin didn't comment on where things stand with china. the next target is nafta mexican officials are in town to meet with robert lighthizer. the meeting takes place at 2:00 p.m mexico is said to want a deal by september 1st when its

manufacturing, but exporters, carl, could have a different conversation in mind >> kayla tausche at theouse. thank you. >>> oil up slightly on rising iran tensions and g 20 leaders caution on global growth as tariff overhang remains in focus. jim, i'll start with you, you said this morning you pointed back to a report that found presidential tweets about trade don't seem to matter much to the markets. you asked whether that would be different for geopolitics and war. dow is down 17 points. >> maybe that's your answer. as far as on the trade issue, markets seem to not be taking tweets into account. interestingly, when he was tweeting about korea and war, markets did seem to take that more seriously you're right markets are green. perhaps they're overwhelmed. so far in the last ten tweets we've had the president talk about iran, we've had him go again after amazon, we had the anti-fed tweet maybe it is paralysis being overwhelmed with the sheer number of fights he is picking on twitter the last couple of days >> greg, what should we be paying attention to when it comes to official stateme

announces new tariffs on chinese goods kayla tausche has the latest for us >> reporter: the republicanongress on trade says he wants the two leaders of the u.s. and china to hash this out risking a multi-trade war. that was echoed by house speaker paul ryan this morning this comes after the trump administration took the covers off a new set of tariffs targeting chinese imports from handbags to fish sticks to toilet paper the list is wide ranging and the trade associations have warned to see higher prices as a result but the administration according to peter navarro thinks that the tariff would blunt that impact navarro said that back in june when the white house first set sights on tariffs that would touch nearly all of china's imports is china retaliated. and then china did and it says it will again as the commerce ministry is pulling firm and forceful measures, but china has not said what they will be. with the tariffs teed up for this month, the question on investors minds is, why now? there are a few reasons. first, to get the ball rolling on a lengthy legal process to impose the t

juncker they have been butting heads before can this meeting produce a break-through on trade kayla tausche is at the white house for us right now. >> reporter: bill, the two sides have traded very harsh words very recently, the president last week calling the european union a foe and refreshing those thoughts of new tariffs on autos coming into the u.s. th europe is preparing a new retaliation list of its own. the president on twitter in the last 24 hours very vocal on trade, lamenting the impact that retaliation has already had on the farming community and agricultural america and also having some words for his critics, lamenting pressure that he's getting from some people to end these disputes more quickly. he said this on twitter, saying that people are snipping at his heels and that the effect that has is actually detrimental. when you have people snipping at your heels during a negotiation, it will only take longer to make a deal and the deal will never be as good as it could have been with unity negotiations are going really well, be cool. the end result will be worth it. one member

this was a sudden move that happened right around 2:00 >> let's go to kayla tausche with breaking news majority leader mitch mcconnell kayla. >> well, tyler we know the president is speaking at the white house now. in the meantime on capitol hill on the other enof pennsylvania avenue, the senate majority leader after the senate's multiple times weekly gop policy lunch made some remarks about the putin summit and the backlash from republicans. he said that it's important for our friends to hear from our friends. he said he is not here to critique anyone else though he says the u.s. values the nato treaty and eu countries are friends of the u.s. and that russia is not. he said that any talk of potentially impeaching the deputy attorney general rod rosenstein as some house conservatives are discussing he says in the senate that's far-fetched. so very interesting commentary from mcconnell who is stepping right up to the line of criticizing the president but not crossing over that line. know saying he does stand with the u.s.'s allies, especially in nato and that russia is not a friend of t

kayla tausche is down there with a news alert >> we are learning from the white house that the president is expected to make remarks in about 90 minutes time. they'll be part of a pool spray happening at the top of a meeting that had been previously scheduled with republican members of congress to discuss tax reform 2.0 the white house is now saying that the president will address his recent trip to helsinki and his meeting with russian president vladimir putin at the beginning of that meeting. we'll stay tuned for that. >> let's go to contessa brewer now with the headlines >> at a gop press conference today house speaker paul ryan said he is willing to apply additional sanctions on russia >> russia is trying to undermine democracy itself to delegitimize democracy. we know they interfered with our elections and we passed sanctions on russia to told them accountable. more importantly what we intend to do is make sure they don't get away with it again >> israeli prime minister benjamin netanyahu visited an area bordering the gaza strip. he said the military is prepared for any scenario isr

kayla tausche joins me with more on this whole story. kayla?well, you mentioned the stock market and that is one reason why the administration perhaps was emboldened to release this list of tariff products when it did. the stock market in the wake of the jobs data and economic growth data and the fed meeting last week has been extremely resilient despite all of the uncertainty because of trade. that's one reason in addition to the fact that north korea has begun rebelling that there's no near-term catalyst for talks with beijing. for the administration last night to say, hey, we're making progress behind the scenes. here's the list of products that we would target with this massive new tariff list and in a couple months' time if we feel we haven't made progress, you could see this come to fruition. >> at some point in your learned opinion does the stock market start to say this is really getting bad. we're now going to put tariffs on more products than china imports from the united states, so the china and canada and european union and mexico m

let's get to kayla tausche in d.c.h the latest details >> after several hours behind closed doors, delegations from the u.s. and the european union hammered out an agreement to begin a dialogue to talk about lowering tariffs across the board for non-auto industrial goods in the president's words also, they are going to talk about sending more u.s. soybeans and natural gas to europe, and according to president trump in response to that, each side will lay down the weapons that they've been using in this trade war. >> we also will resolve the steel and aluminum tariff issues, and we will resolve, retaliatory tariffs. we have some tariffs that are retaliatory, and that will get resolved as part of what we're doing. >> according to the european commission president jean claude junker who spoke after the president said so long as both sides continue negotiating there will be no new tariffs put in place. that would seem to suggest that the u.s. will not go forward with auto tariffs that the president has been suggesting to p

robert: joining me tonight from washington, peter baker of "the new york times," kayla tausche cnbc andatty kay from bbc's world world news america. thank you so much for being here tonight. l of you gre reporters much but let's start with catty. you think of the presi there in the u.k. and he's confronting the special relationship, a long-standing relationship but also rattling the rhythm at the same time. what's been the consequence for the prime minisr? katty: he couldn't have waded into a more sensitive domestic political issue at a more sensitive time h thane did today. president trump was fiercely critical in tt sunnterview of the way that theresa may has tions d the brexit negot and also said that if she went ahead with a new plan she's just unveiled for brexit then america wouldn't be able to sign a trade deal with the united kingdom. this isn't just being ruledyo t host when you turn up for dinner. this that itraditional imply stations for the prime minister. there have been times during this week we didn't know if theresa may was going to rvive to remain prime minister. so for

our kayla tausche is standing by with that story. >> president bush successfully jawboning the markets today after suggesting rates should stay lower and that the dollar's strength hurts the u.s. on trade. on twitter he reiterated comments that he made to cnbc that china the eu and others are manipulating their currencies and interest rates lower while the u.s. is raising rates while the dollar gets stronger every day, taking away the u.s.' big competitive edge tightening hurts all that we have done and that the u.s. should, instead stead, be able to capture what it lost. sending the dollar index down nearly $1% and as one investor put it, shielding china that two can play that game after the people's bank of china moved the yuan for the biggest one-day devaluation in two years and after china's trade surplus in june touched a record stephen mnuchin just spoke to traders in buenos aires saying the strong dollar is still important for the u.s. in the long term and that he is closely monitoring the yuan weakness for manipulation devaluation is just one of the tools that china is using to

for nightly business report i'm kayla tausche in washington. >> word helped lift shares of farm-relatedompani today and companies like deere, caterpillar and agco which in theory could benefit if farmers continue to benefit on tractors and other gear and the meat industry is also bracing for the effects ofariffs which could add to the surplus. aditi roy reports from san francisco. >> at marina meats in san francisco, the butchers here say the prices they pay for bee and pork haven't changed much this year despite the increasing supply of meat. >> sonoma county to everywhere in the proximity of 200 miles. >> some analyst the rising amount of u.s. beef and pork sitting in cold storage could mean trouble ahead for farmers and meat companies. meat that doesn't go to retailers, restaurants or export rkets end up in freezers. the latest usda monthly numbers show total pounds of stored beef were up 8% yr over year. frozen pork is up slightly from lastr. y analysts say the numbers are not record setting, but big and g. forbod >> we're definitely expecting inventories to continue to increase and

let's get to kayla tausche she joins us from washington >> good morning.ition of tariffs came and went on friday with no sign of a breakthrough in talks the u.s. is now charging manufacturing and industrial parts from china and china, agricultural products from the u.s in three weeks, another round on $16 billion in goods could go into effect with more retaliation potentially provoking more action from the united states. the u.s. trade representative on friday allowed companies to begin asking for exemptions from these new tariffs. though that process can take several months the uncertainty that this trade policy has wrought stands against a backdrop of strong overall growth and solid job gains as seen by last week's data the backdrop of the data will loom large in brussels this week of the 28 other member countries, all but three have fought back against u.s. metal tariffs either by retaliating themselves or challenging the tariffs at the world trade organization though some softening by angela merkel is lifting german car makers today merkel telling repo

>> thank you, kayla tausche in washington >>> the official nato opening ceremony under way we're looking right now maybe they're looking up at that balloon. baby -- no, no that's in london okay let's now get the latest now from eamon javers in brussels. did we have a flyover or something? what was that? you don't know but anyway, what's up, eamon good to see you again. >> it's a miracle of modern technology, joe. we're here in breast elsussels the united states standing between the secretary of nato and tereheresa may on the revien stand at the opening ceremony. the president arrives here just a few moments ago. we also saw angela merkel walking in amid those tensions around the president's comments from this morning. the president laid out a stark criticism of the german saying that the germans are really allowing themselves to be controlled by russia because of an oil pipeline that runs from russia to germany that's been in the works for a number of works. and previous administrations have talked about. here's what the president said this morning >> if you look at it, germany is a capt

kayla tausche joins us with more on this.or anybody hoping for a resolution, this may have been the best they could hope for >> they are putting their trade differences on hold for a time the two announcing yesterday a new phase in the eu/u.s. relationship to continue negotiating towards freer trade. >> this is why we agreed today first of all to work together towards zero tariffs, zero nondoctno non-tariff barriers and zero su subsidies on non-auto goods >>> the u.s. won't roll back steel and aluminum tariffs it placed on june 1st jean-claude juncker talked about that in a speech after the white house announcement >> the idea that imports of steel or aluminum from your closest ally could threaten the national security of this country, this goes against all logic and against all history. we agree the president must reassess this measure in due time >> it was enough to win over president trump two tweeted a photo of him and juncker hugging saying the u.s. and the eu truly love each other. they did not announce another date for

let's get to kayla tausche live in d.c. with more. >> reporter: the u.s. and europe put the trade fight on hold for now saying they would enter a new phase in their relationship and work together towards freer trade and streamlining regulations. >> this is why we agreed today first of awful to work together towards zero tariffs, zero non-tariff barriers, and zer subsidies for the non-auto industrial goods. >> so as long as talks are ongoing, neither side will enter into new tariffs the u.s. won't immediately roll back the metal tariffs it put in place on europe on june 1st. the idea that imports of steel or aluminum from your closest ally could threaten the national security of this country, this goes against all logic and against all history. we agree the president must reassess this measure in due time >> so they'll reassess that. but it was enough to win over president trump, who last night tweeted a photo of him and president juncker embracing with a caption that said the u.s. and eu truly love each other that, of course, a week after calling the bloc

where any minute now president trump will make remarks at made in america event let's bring in kayla tausche for a review >> reporter: the second annual made in america event. it was established last year by reince priebus at the time to deflect away from the headlines about rush 1siarussia. again some of those at play this year but you have a list of 50 plus manufacturers representing each of the 50 states touting the goods that they make here in the u.s. they range from viking stoves in mississippi to ford f 150s in michigan and even f 35 fighter jets from lockheed are mmarlin earlier today mike pence toured those 50 manufacturers inthe booths that they had set up here at the white house and in just a few moments, we'll hear from the president as well. it is interesting that today's event is about manufacturing in the u.s. because for many of those manufacturers who make goods here but then send them to the rest of the world, they have been under pressure whether because of retaliation or because of their input costs going up because of the tariffs the white house has put in place. and con

kayla tausche has more on this story. kayla. >> contessa, a grand jury impanelled by special counsel robert mueller indicting those 12 russian intelligence officers, finding that they hacked into the clinton campaign, the dnc and the democratic congressional committee. the 11 criminal counts range from conspiracy to commit an offense against the u.s. to aggravated identity left to money laundering deputy attorney general rod rosenstein, who oversees the investigation, said he briefed the president earlier this week on the charges and that president trump was fully aware of what the doj would announce but wouldn't say whether he supported the move >> the president speaks for himself. obviously it was important for the president to know what information we've uncovered because he's got to make very important decisions for the country, so he needs to understand what evidence we have of foreign election interference. >> the announcement coming just two days before president trump is set to meet vladimir putin in helsinki earli

. >> kayla tausche is live at the white house with what we can expect, hi, kayla. >> hi, courtney.meeting throughout the day first the president greeted the prime minister in the oval office he talked about areas of commonlety between the countries and then there was an expanded bilateral meeting between the two countries where they talked about more issues. and the president with the official twitter greeting to the prime minister tweeting a promotional tweet for the press conference while we know the official announcement of this visit said the goal was to address global conflicts and promote economic prosperity there is a wide range of topics .the president touched on military spending, the trade deficit with italy as well as geopolitics. the relationship between the u.s. and italy is very key the white house says when it comes to afghanistan and overall recommendations in the middle east one of italy's priorities is basically to offer as a counterweight in the president's battles against france and germany. both of the leaders are iuorio skeptic doubters of the value of the eur

considering a tax cut for the wealthy through a change that wouldn't require approval for congress kayla tausche the latest on this developing story. >> reporter: the administration is weighing changes to the way capital gains are treated when assets are sold as a conservative coda to tax reform passed last ear. the idea was floated again by the treasury secretary on the sidelines of the g 20 and re-entered the public conversation in "new york times" when they published the comments what this would do, it would index capital gains to inflation which would significantly lower the charge for investors when they sell an asset i reached out to the white house to ask about the president's position on this they said the white house has no official position on this, but defended the notion this would disproportionately help the wealthy, saying that all investors with 401(k)s and penguin pensions would benefit treasury official says they're evaluating the process by which they would do this and the economic impact of doing something like this to the economy. the treasury secretary according to this offi

kayla tausche has more. >> reporter: we learned that announcement is coming this afternoon.miliar confirming an aid package targeted at farm country will be unveiled this afternoon. remember, the president back in early april instructed department of agriculture to study ways to basically mitigate effects of potential retaliation against farmers. and we've seen prices come down for many crops like corn, soybeans and pork. we'll see what is announced this afternoon. "the washington post" reports the package will be $12 billion, and i learned from industry sources that that could potentially utilize the existing programs within the usda to mitigate certain risks and price coverage in markets like dairy, like pork, like soybeans we'll see what is announced this afternoon, whether that aid will be distributed directly to certain districts, farmers, certain businesses, or whether it will be potentially targeted at certain markets to lift prices of certain crops that have fallen in months since retaliation has taken place. we expect that this afternoon. we'll let you know as soon

. >>> all kinds of headlines on tariffs, nafta, kayla tausche is monitoring that for us. >> we're goingan hour of the secretary of the treasury being questioned on capitol hill every single member of congress that is on the house financial services committee has had a question about trade here's what the treasury secretary said about business uncertainty. >> for cnbc, does a survey of cfos of major u.s. companies and 65% have reported that they fear u.s. trade policy will negatively impact their firms over the next six months how does the administration think about business uncertainty as it calculates its trade poli policy >> mr. chairman, i can assure you that the president is very much focused on economic growth and i can also assure you that i am monitoring the situation very carefully. >> we have not yet seen any negative impact, although as you've said we are monitoring carefully the impact on uncertainty on investment. >> there is a negative impact on one company in particular. harley davidson. the secretary was asked about that situation in particular and the president asked har

the gdp report was released saying the american economy is going to go a lot higher from here kayla tausche is in d.c. with more. >> after days of drumming up expectations for gdp at rallies across the country, president trump took the opportunity after that strong gdp print to tout his overall economic agenda. he chalked up the growth to tax reform, deregulation and trade policy >> we're on track to hit the highest annual average growth rate in over 13 years. and i will say this right now and i'll say it strongly as the trade deals come in one by one, we're going to go a lot higher than these numbers, and these are great numbers. >> trump said the u.s. is poised to do extraordinarily well in the third quarter too, and he said his chief economic advisers, larry kudlow and kevin hassert told him the growth would be very, very sustainable, that despite the suggestion from economists that the data showed tax cuts may have temporarily boosted business investment and consumer spending and that companies rushed to export goods ahead of trade disputes. asked about that particular dynamic on today'

. >> the beige book is out kayla tausche in washington. >> the federal reserve's cross country surveynting the picture of an economy across the board growing modestly with prices and wages increase thing labor margins tightening, labor markets expanding, tourism is healthy but uncertain about tariffs weighing on every district businesses in all 12 regions reported difficulty finding workers to fill open jobs. they say there is a lot of turnover and that candidates they are offering jobs to are fielding multiple offers one cleveland builder said it was investing in drones to fill a shortage of workers. an oregon bank said it was lending to a manufacturer to fund automation projects the white house's trade disputes figured prominently in conversations with business this is quarter or in the most recent beige book that the fed out out to today manufacturers in all districts said prices are rising and supply chains are disrupted. auto dealers are worried about potential new tariffs. but the tariffs already in place on metals are something of a double edged sword for many of the regions sp

kayla tausche joins us now with a look at what the decision might mean for business. >> good morning. nominee to the supreme court is federal appeals court judge, two-time yale grad, and former clerk to anthony kennedy at the white house podium, judge kavanaugh said if confirmed, he'd keep an open mind on every case >> my judicial philosophy is straightforward. a judge must be independent and must interpret the law, not make the law. a judge must interpret statutes at written and a judge must interpret the constitution as written. informed by history and tradition and precedent. >> it's kavanaugh's lengthy record that made him the favorite his opinions include rebukes of over-regulation and support for stricter immigration policies. his service to a california judge who resigned after allegations of sexual misconduct and his view that a sitting president should be shielded from investigation president trump thanked the senators who helped inform his decision and said the senate should move to confirm him quickly. >> there is no one in america more qualified for this position and no on

let's get to kayla tausche hey, kayla >> hey cabinet members from the white house are making the roundsecent economic successes and redefining the hard line on china addressing the business forum today to discuss investments in the region and by extension the u.s. relationship with china this follows appearances by mnuchin and kudlow on the sunday shows talking up growth and talking down recent trade disputes 3% at least could be sustained, they said. >> all i'm going to say is the eu story is moving ahead very rapidly. very rapidly and i think that, by the way, puts china in a very difficult position china is i think being isolated. i don't know if they realize it or not i assume they do not only is the eu and the u.s. coming back together i'm looking forward to a deal on mexico and i think a deal with canada is out there >> that message had mixed reviews with republicanson capitol hill a listening session by kudlow and white house trade adviser on friday morning erupted the prior night was far less contentious than expected, according to two attendees the trade agreement with the eu v

kayla tausche is live in washington with more hi, kayla. >> the president's message for the farm communityaround the time the u.s. department of agriculture was rolling out a relief package for farmers affected by retaliatory tariffs. the package is $12 billion in size and unclear how long it lasts. but the u.s. department of agriculture says it has a couple different parts. the first is direct payments to farmers. and those will be farms that deal with soybeans, corn, wheat, and milk and hogs. the second portion will be purchases of surplus crops that you can expect fruit nuts leg um and milk the disbursements will happen by labor day. and in the coming weeks any will work out the details of the plan, who qualifies and how long they last. any essentially said the goal of the program is to buy the administration time to work out trade deals. but the fact that the disbursements will be made around labor day means the administration don't think the trade disputes will be solved before then. and usda officials said the program while temporary in nature they couldn't say how long it lasts it w

kayla tausche is in the washington bureau. eamon.e up first. >> tyler my apologizes i'm doing it out of the noektd because i got off the phone with the white house official and wanted to relay new information. process. part of what's driving the president's focus here on the fed over the past 224 horsepower starting with the joe kernen interview is that i'm told by a white house official the president is worried that the fed is going to raise rates twice this year. and the president by his very nature li nature is a low interest guy that's sort of what his concerns is all about i'm also told that the president ultimately is not telling the fed what to do and that he gets it in terms of the fed as independence but simply expressing his opinion long held opinion as a builder. i'm also told aides are advisesing the president at this time to simply let the fed do this at this point they are saying the fed is doing it right let it happen the sooner it happens the sooner it's over. that is the sooner the rate hikes will be over and aides a

kayla tausche has the latest rundown on where the trade war stands now >> certainly the president believest in place are the most powerful negotiating tool that have brought trading partners to the table with several meetings scheduled for the week that the president previewed from the white house despite the eu president potentially not bringing a deal to washington, trump in his remarks yesterday sounded optimistic >> the european union's been very tough on the united states. but they're coming in to see minute on wednesday. and we'll see if we can work something out. otherwise we'll have to do something with respect to the millions of cars they send in every year maybe we can work something out. >> meanwhile with earnings season underway, goldman sachs tries to put a fine point on exactly what the point of tariffs could be goldman's david kostin estimated this if there's a 10% tariff on all u.s. imports from china which trump has said he'd consider, that would shave 3% off of s&p earnings a 10% import would shave 15% off earnings that is the semiconductors, 2016 proposed merger with qua

white house this morning for a made in america showcase but there is a twist want to get over to kayla tausche washington this morning >> good morning. it's the second annual showcase of companies that make products in the u.s this could be different with trying to impact on trade and the impact of tariffs on their businesses one company in particular, south carolina based perception kayaks says its customers are pulling because of those disputes. and retaliation could hit up to 15% of its sales the attending list for today include many we'll see how they plan to approach this conversation today. the event comes after a meeting over the weekend where it was warned it will affect global growth and hoping for breakthroughs with canada and mexico on wednesday president trump will meet with juncker the commerce department said it could conclude its investigation by the end of this month and potentially levy tariffs before the midterms mexico's incoming president wrote a letter to president trump saying there is a preference for all three countries. those sources say trump officials recently pointi