lighthizer: thank you very much, mr. president. thank you for helping us get this agreement across the finish line, but more importantly, thank you for reorienting trade policy in the united states in the direction of america's workers, farmers, and ranchers. for too long, we had lost our way, frankly. during the last almost three years, you brought us back, and i am grateful for that. i want to thank, if i can, a few people on my team. we have a huge group involved. jeff and greg, two of my deputies. michael beeman, sharon -- and there are lots of other people. a lot of credit for doing this. let me quickly make the point that the president has already made. this is a very big trade deal. this is about $55 billion worth of trade. with this, we will have more than 95% of the gdp that would have been in tpp. it is very important for farmers. it is also important for digital trade. japan is the biggest market for the united states in beef, pork, wheat. and it is a substantial market in a variety of other things, including potatoes, a

ambassador lighthizer as a great gift.e is able to show the chinese, this is good for you if you agree to these terms. host: this is from new york. democrats line. caller: good morning. i have a question. what if every single american just, one day out of every month said, i am not going to buy anything made in china. what that have some kind of itact in at least bringing to our minds just how much we buy? what you think would have been? guest: it is an interesting idea because one problem the president faces, even though nancy pelosi supports the tariffs, senator chuck schumer has criticized the president for not putting the tariffs on sooner even though he has bipartisan support. the public at large is still working with an old image that china is poor, backward, is kind of a charity case. that we have an obligation as a wealthy country. we need to help this poor, backward china. if you're talking about a one day a month boycott of chinese products, it would have an impact not only on china but on public recognition that

lighthizer: we have an escalation in various areas, so the difficulties can be resolved.oth parties have been allocated , assigned areas. people have created a structure underneath it and we are down to the final details of what will happen. thus the final part we are putting together. that wees agree absolutely have to have it. we are very close to that. >> [indiscernible] what kind of areas can u.s. and china work together? pres. trump: i think they are great. in certain ways, it is better than it has ever been. we have been through a tough negotiations. i give china tremendous credit. for 25, 30 years, they have done very well with the u.s., and now we are doing something jointly. we are doing it in a fair manner. i give china credit for what they've done the last 30 years. i don't blame china. i blame the people representing our country. it will be fantastic for china and fantastic for the united states. >> is this an actual deal? pres. trump: no, it is subject to getting everything papered. we have agreed in principle to just about everything i mentioned. i do not --

lighthizer has done a terrific job. all of my time has done a fantastic job. the vice premier, i want to thank you very much for being here with your team. you're very tough negotiators. congratulations but it is something that we both realized from the beginning is very important not only for china, not only the u.s. but also for the world and every time there is a little bad news the market would go down incredibly. every time tbit of good news tht would go up incredibly. yet other news that was also very big the market just didn't really care. they just seemed to care about the deal with the usa and china and that's okay with me. so we've had a tremendous, really negotiation. very complex negotiation. but something that is going to be great for both countries. and mr. vice premiere, would you like to say something? >> [inaudible]. [speaking in native tongue] >> translator: firstly on behalf of the chinese government we would like to extend our thanks to president trump for your congratulatory message to the 70th anniversary of the founding of the peoples re

trade representative robert lighthizer a lot of discussion today, and since the china day 7 oh, yearsars and a heck of a parade but xi talking about nothing will stop the chinese people, nothing will stop the chinese nation. here it is, it's straight in our face, your thoughts about the impact on trade talks? >> well the position of the weapons pointed at america and capitalism battling communism in the streets of hong kong is stark on october 1. this context for these talks let's make mow mistake about it. i've always said lou, this is not a trade negotiation. it's about an economic system that china is people etraiting on the world. it has the seven deadly sin, the intellectual property theft, killing americans with fentanyl so the chinese negotiations, it's going to come here but he's going to meet some tough negotiators on the other side of the table. lou: and at the same time, i want to return to the wto decision which means that the united states has the capacity to put tariffs on pane goods including agricultural exports to this country and it's going into effect what the 18th

trade representative, robert lighthizer. a lot of discussion today since the china day that 70 years of communist rule, and a heck of a parade. xi talking about nothing will stop the chinese people, nothing, nothing will stop the chinese nation. it's as bellicose as nationalistic as anything one can imagine coming from beijing. here it is. it's straight in our face. your thoughts about the impact on trade talks. >> the juxtaposition of weapons in tienanmen square pointed at america and capitalism and freedom battling communism in hong kong streets was stark on october 1. i always said, this is not a trade negotiation. it's about an economic system that china is perpetrating on the world. it has what i call the seven deadly sins. the chinese negotiator will come here but he will meet some puff negotiators on the other -- he will meet some tough negotiators on the other side of the table. lou: the wto decision gives the united states the ability to put tariffs on european goods and agricultural products. those go into effect t

trade rep robert lighthizer taking over. u.s. making it official signing a trade agreement between the united states and japan. about to make it official this was the deal i believe agreed upon at the u.n. general assembly but now made official by the president. it's a game-changer for the american farmers. talked a lot about the farmers in those comment. melissa: absolutely. i'm melissa francis. welcome to "after the bell." connell: i'm connell mcshane. we'll start by talking about trade. we bring in edward lawrence from the white house not only to recap, edward the president ate comment there on japan but talk about your own reporting, market moving reporting on china today. reporter: let's start with china here. we have breaking news. we understand the commerce department is adding 28 new chinese companies to the entity list. that means those companies will not be able to buy or sell with american companies going forward. that starts tomorrow. just being posted now to the federal register. with all of this, this comes on a day

robert lighthizer and steven mnuchin released a statement saying the u.s. is closer to finishing phase one of the trade deal, giving investors a reason to bed up share prices. although they have stalled out, we are looking at gains in materials and technology. intel is the best performer in the dow industrials, giving an update profit and sales forecast, shrugging off of those trade war concerns. we will be talking with reporters later on to discuss the state of brexit. there is the chart that i want to highlight. because you are here, we are watching the loonie. amanda: hitting key levels last week. we are still waiting for the bank of canada. we also have an election with parliament. it is interesting to see the currency. we already saw weakness priced in. speaking of, amazon trading off the lows of the session, possibly because we had decent news on the trade file. here is a look at the profit declines we are seeing for amazon. company had coached investors that it will see a loss. it's been giving profit and growing it. now not only is it saying the 1.5

lighthizer. very trump: thank you much. we have had some big news and good news today but i would like to hold this for china -- there is nothing bigger than what we are doing with china. i think it is important that these are the questions that are asked. as you know, we have the vice premier of china, wen of the most respected men in all of china and the world. we have great respect for him and friendship with him. we have come to a very substantial phase one deal. and i will go through some of the points. and then, i will ask the vice premier to say a few words. and any comments you may have. deal, prettyto a much subject to getting it written. it will take probably 3, 4, or five weeks. we are going to be in chile together at the summit. maybe it will be there or sometime around then. we have come to a deal on intellectual property. financial services. a tremendous deal for the farmers. from $40 billion up to $50 billion in agricultural products. to show you how big that is, that would be 2.5, three times what china has

i get the sense that lighthizer understands that.rump himself seems like he is more sort of playing to the electorate and the base which is not care about those things as much. is a great point and that is why handicapping the trade fight is so difficult because where the president is is different from where the rest of the u.s. political establishment is to congress was up in arms about technology issues. the u.s. intelligence apparatus up in arms. the president not so much. caroline: it appears the u.s. has blacklisted 8 more chinese company is, this one including -- we're trying to get to the bottom. this is another digital technology company in the line of fire is technology in china. from your perspective, are we going to see more? why are we suddenly seeing more blacklisting, just before such important talks? michael: it is pretty fascinating. we need to see the details. i assume this is over chinese uigheries with the population. these are the hawkish voices in the administration looking to prove to the world and to beijing th

trade representative robert lighthizer says was removed from the trade deal.he mood of the talk had soured this week. in fact the chinese a little upset 28 new companies and entities were added to the entities list, that is the blacklist from selling to the united states here. visa restrictions from the state department, they are concerned about the restrictions in place for human right violations from some chinese government officials as well as communist party officials. may be too soon to talk about a partial deal or not. what has subsided from the conversation is talk of the chinese leaving later on today, cutting this trip short. that has sort of subsided here. president donald trump tweeting out this morning saying he will actually meet the chinese vice premier tomorrow in the white house, signaling that they would be probably, most likely be here through tomorrow. charles? charles: edward, thank you very much with all the twists and turns in the trade saga, the market is exhibiting optimism with so much in line over the next 24 hours. we'll know a lot.

ambassador lighthizer and myself with the vice premier and others.will be meeting with the president shortly and updating the president on those. he will then be meeting with the vice premier. i would not be surprised if, like usual, he decides to invite a few of you in, but i'm not going to make any comments in advance of meeting with the president. >> the stuff market is very optimistic at what they see -- about what they see -- stock market is very optimistic about what they see at the ustr office. do they have reason to be? secretary mnuchin: the stock market is always right. [laughter] said,ary mnuchin: i have we have two more days of discussions. we will be making announcements after really with the president -- we meet with the president. far, turkey has not been dissuaded by anything this administration has done or the president has said. what makes you confident that the announcement you just made is going to change turkey's mind? secretary mnuchin: i do not agree with your premise. i am not going to comment on specific confidential discussi

lighthizer said this afternoon as well that there are still some outstanding issues between the u.s. and china. while the commerce secretary also downplayed the mid-november target date. >> there are still some issues we have to resolve. we're working towards that goal. >> in our point of view, it has to be the right deal and it doesn't have to be in november. it's more critical that it be a proper deal than exactly when it occurs. reporter: in that cabinet meeting, the president made the argument that once these trade deals start to kick in, there will be a marked improvement in the economy and he also talked about at one point a potential trade deal with north korea. north korea, liz. even though that seems like a very, very far-off possibility. liz: yeah. well, there's waterfront property there, blake. reporter: there is. he's talked about it. he says it's great land. says it would be a big rebuild. but i think it's years, if not decades away from that. liz: except for all the bark stripped off the trees by starving people eating bark. reporter: there's a lot of issues there. liz:

trade representative robert lighthizer and treasury secretary steven mnuchin and.held a phone call with the chinese fight premier and said discussions will continue at the deputy level. peter navarro tells fox news, phase one could be signed as soon as next month. california's biggest utility admitted its electrical equipment may have ignited a wildfire burning in one country today. that is despite lack of being imposed across the region to prevent such blazes. pg&e had a power line failure in sonoma county moment before a wild fire broke out. it burned at least 25 square miles and prompted evacuation orders or about 2000 people. a federal judge has held education secretary betsy devos in contempt of court because she violated in order to stop collecting federal loans from thousands of former students who attended corinthian colleges, a for-profit school change shutdown in 2015 as it faced allegations of fraud. macronpresident emmanuel has blocked the european union's attempt to delay brexit for three more months. that means it's possible u.k. may not know if it wi

he was joined by robert lighthizer, ambassador to the u.s.he president was asked about his decision to withdraw u.s. troops and the turkish offensive in syria. this is about an hour.

lighthizer has put together a brilliant non-partisan trade deal that helps manufacturing and farmers. it also helps the new economy with ip protective it also includes currency stability. this is a template this is an american legacy second point, second point, jimmy, you were asking me about china -- i >> yes, i wanted something new maybe something hot like an ag buy but also saying letting j.p. morgan in, letting citi in let us compete, larry. they won't let us compete. >> you are correct now, here's a very important point. we have made great progress and this is a key part of phase i. this goes back to last spring. treasury secretary mnuchin had successfully negotiated financial industry openings in china. so that the ownership, the ownership of any joint ventures will switch to an american majority you follow me? instead of 49% so if an insurance company or a bank or a securities firm gets a license from the chinese government and enters into a joint ven schur or something like that -- venture or something like that, instead of 49%, that number will go to 51, 53 and 100% ownership

the reformers on whom we were counting, it's in bob lighthizer's testimony.ormers are getting put in jail or otherwise neutralized. lou: this is not a good sign for reform. there was an award given by the cato institute. the very day he got award he shut down his think tank. and shut down his website. my gosh, that's just going swimmingly. they have got a million folks sitting in concentration camps. and threatening xi today talking about crushing bones. it would be rather graphic. i have to tell you just as a citizen because that's all i am, i don't like the way they talk. and i sure don't like it even a little bit. >> we are in a new approach. the president the first year had wilbur ross in charge. the idea was to have a great deal of investment. the second year bob lighthizer was in charge. we move into the year of steve mnuchin in charge. steve succeeded in getting the investment bankers of america open access to china. this is one of the biggest breakthroughs on friday. >> break through or a pretend breakthrough. nothing else that was ostensibly agreed t

lighthizer. pres. trump:

liz: that would be the trade representative lighthizer, correct? reporter: correct.are talking about u.s. trade representative robert lighthizer, talking about vice premier liu he from the chinese side as well as the chinese will bring their own minister, their central bank governor as well as their commerce min city will be here. we are told secretary mnuchin will be involved in these talks on thursday and friday also. so again, trying to set the framework for today and tomorrow for thursday and friday and see what happens there. liz: i just want to have our viewers note the dow is down about 58 points, low of the session was a loss of 149. but we had been up 82 earlier this morning, and that move to the upside was sparked by larry kudlow, the economic adviser to the president, coming out and specifically saying we're not going to de-list chinese companies like alibaba or baidu or tencent from u.s. exchanges. reporter: his exact words were that is off the table. his exact words were that is off the table but he then goes on to say that he's concerned about the trans

and after hard work of robert lighthizer, the u.s.rade representative, steven mnuchin, the representative. >> another thing, were in a real battle, it's been a long drawn out battle but the president in the and will get what he needs for this country and he does not need snipe from the side. >> within his own administrati administration. >> i have to tell you, the party that this president is working with, what a hand to draw too, these rinos in establishment -- like mitt romney where they chirp and candidates from the sidelines as if their observers with great gravitas and knowledge. it is laughable except for the fact that it seriously undermined this president. >> the problem with romney, the end of the day he begged the president to endorse him and he wanted to be secretary of state and he did not get it. now he thinks he's going to be the leader of the opposition in the republican party. and i promise you the voters of utah will support this president 100%. and romney better get to know that very quickly. lou: i think romney -- h

treasury secretary steven mnuchin and robert lighthizer. prospects already looked dim since the weekend since there were reports out that chinese were thinking about dropping all together one of the very important demands of the u.s that is the long-standing concern about state subsidies. still now, president trump said overnight. he's hoping for a big deal but a lot think things don't look good and maybe at best, we'll see an agreement to talk again between the two leaders. >> when you are black listing firms before you sit down to have talks with the company. don't go away, i want to talk about something else that is the growing battle between china and the national basketball association. new developments this morning, apparently china state broadcasters saying it is not going to show any nba preseason broadcasts country wide? >> reporter: yes not only that. tencent, the private company said they are also going to halt all of their nba broadcasts. again, this is continued fall out because of a tweet the general manager of the houston roc

robert lighthizer meeting with house democrats on capitol hill yesterday, pushing for the adoption ofing comes as iowa senator chuck grassley warns it's unlikely the house will act this year. president trump highlighted the significance of the deal yesterday. >> we have to get usmca done. they don't want to put it up for a vote. and the do-nothing democrats, they wills pass it. but it those be put up by nancy pelosi, so let's see what happens. but i think they're going to put it up because everybody -- no, everybody wants it. i think ultimately they're going to do the right thing. it's all ready to go. it's approved by mexico, it's approved by canada, it's approved by everybody that has to be approved. we have to give it a vote. it's been sitting for a long time. a lot of money wasted, a lot of jobs wasted. it's going to have a tremendous impact. maria: joining us right now is peter navarro. peter, great to have you on set. >> be in new york here, what digs you have here. maria: thank you. >> it's lush. maria: let's talk usmca. what is holding this back. tell us some of the sticking p

lighthizer said they are close to the finalizing an agreement, not a treaty.resident trump said chain a still needs a deal. president trump: the farmers will do better than maybe anything. china wants to make a deal. they would like to see reductions in tariffs that are scheduled to go on very soon. they would like to see them not go on. reporter: he seemed co-to confirm what the chinese trade sources told us. that's 15% tariffs. the chinese worked hard to get those tariffs postponed or not put in place. interest protects intellectual property, and. >>s banking so they could work with chinese markets. the administration wants to have the final lang tbhaijt phase one agreement ready to be signed by the time the apec summit comes around in less than three weeks. lou: joining us, peter navarro, assistant to the president, director of trade and industrial policy. the straye -- the trade czar, iu will. this deal seems to be coming together, but has a lot of elements that are poorly formed. give us an idea of where this deal is, the so-called phase one. >> we had a

bob lighthizer is with us. mike pompeo is with us. they're going to be joining us for the discussion. there have been some reports that china is not buying until the deal is signed. china started buying already from the farmers. it will be anywhere from $40 billion to $50 billion far more than anyone thought or expected. it's a great deal for the farmers. i think the farmers will come out, along with many other industries in the united states, will come out as one of the big beneficiaries of the trade deal with china. but they have already started purchasing. in fact they started purchasing three weeks ago. you can see the numbers for yourself. it's great for our country. it's great for -- i think it's great for china, too. but it's something that's already taken effect even though the deal won't be signed probably until i meet with president xi in chile where we have a summit. the world trade we won $7.5 billion and that is being distributed among various countries in the european union. italy is one of those countries. i know that t

ambassador lighthizer as a great gift.ble to show the chinese, this is good for you if you agree to these terms. host: this is from new york. democrats line. caller: good morning. i have a question. what if every single american just, one day out of every month said, i am not going to buy anything made in china. what that have some kind of itact in at least bringing to our minds just how much we buy? what you think would have been? guest: it is an interesting idea because one problem the president faces, even though nancy pelosi supports the tariffs, senator chuck schumer has criticized the president for not putting the tariffs on sooner even though he has bipartisan support. the public at large is still working with an old image that china is poor, backward, is kind of a charity case. that we have an obligation as a wealthy country. we need to help this poor, backward china. if you're talking about a one day a month boycott of chinese products, it would have an impact not only on china but on public recognition that your

i want to applaud president trump and his trade team lead by ambassador bob lighthizer for their hard work. it seems like just yesterday they signed an agreement with japan, but they didn't rest on their laurels and have quickly moved on to the significance after chinese trade agreement. there seems to be more good news coming out of the white house every day and we continue to encourage the white house and the chinese leadership to develop this agreement and allow more agriculture products into china. we look forward to future engagements with our chinese counterparts in the near future as well and continue to hope we can work towards a strong agreement yet this fall. mr. speaker, i'd like to stop and congratulate president trump and the intelligence officers and u.s. special forces who risked their lives in a daring raid this weekend where the leader of isis died by detonating a suicide vest, killing himself and very sadly his three children after he was cornered in a tunnel. mr. speaker, i have to stop and ask the question, what type of a person would sacrifice his own children? is

that are separate from what is going on with ambassador lighthizer and house democrats trying to fix the agreement and some of the changes the democrats have put forward. my report was looking at the actual implementing legislation that lawmakers vote on. the whiteds right now house is proposing that language and basically a blank check to administer the production rules for global auto companies. giving them a lot of authority to say i want you to put this plan here or you will pressure them into making investments. on that front congress and the white house are very far apart. that tells us that even if pelosi had lighthizer get a political solution it still needs to be fixed. they are not there yet. david: thank you so much. even as we were talking a headline cross the bloomberg and said the white house says there is no secondary site for that at the moment. now i want to turn to kevin cirilli the white house. we have a big vote tomorrow, on thursday by the house on whether they will officially go forward with impeachment. they are still taking testimony up there? kevin: two caree

lighthizer has done a tremendous job, all of my team has done a fantastic job the vice premier i wanting hear with your team you're a tough negotiator but it's something we realized was very important not only for china, not only for the u.s., but for the world. every time there was bad news the market would go down incredibly, every time there was good news, the market would go up incredibly. yet other news that was big the market didn't care they just seemed to care about the deal with the usa and china. and that's okay with me. so we've had a tremendous, really, negotiation, a very complex negotiation but something that's going to be great for both countries mr. vice premier, would you like to say something >> translator: firstly, on behalf of the chinese government we would like to extend our thanks to president trump for the congratulatory message for the 70th anniversary founding of the people's republic of china. we very much agree to get the china/u.s. economic relationship right is something that is good for china, for the united states and for the whole world, and we are mak

lighthizer said the countries continue to have deputy level talks. trump also talked about the situation in syria, the kurds, saying that something good would come out of it -- and as are his words. banker sachs, a third arrested for insider trading. the exclusive bloomberg reporting. that is next. this is bloomberg. ♪ romaine: this is "bloomberg markets." i'm romaine bostick. now to a bloomberg school. goldman sachs facing a third allegation of insider trading in the last 18 months. a goldman investment banker was arrested friday for passing deal tips to a restaurant tour. is someonehe story who covers bloomberg news. what is this case about? this was a relatively high level -- banker was a junior banker, your classic insider trading. dealker who works on a big leaks the details of the deal. the contact gets a big gain. a few years later, the feds come knocking and he is arrested. romaine: what deal was singled out? syngenta deal, a buffalo wild wings deal. anyone who had advanced information could make money. the person who received these illicit t

i remember on friday we were talking about a master lighthizer. -- ambassador lighthizer. president again for testing positive rhetoric, which the markets like it comes when his top treat diplomats like human should -- steven mnuchin single they are willing to not go ahead with tariffs as signaled by phase i of the trade agreement. as we have covered before, all it takes is one tweet for this to go internet -- in another direction. david: many thanks to kevin cirilli. now let's go to damien south tower -- damian sassower. we have a new president in argentina. what does that mean for markets question mark -- markets? did vote inpeople favor of economic austerity. they have barely enough reserves to cover their gross external funding expenses over the better part of the next year, which means they are going to have to do a deal quickly with the imf to restructure, re-profile their debt. those terms remain unclear. we know fernandes is calling for a 20% to 25% cut on their debt outstanding. we do not know if that is going to be taken well by creditors. looking forward, what d

conversation this morning and out of those conversations your straight or presented of robert lighthizer'sice and staying there close to finalizing the language in some of phase one sections. the entire section, this review has talks from the deputy level in another phone conversation between the tree team in the near future. president donald trump optimistic and so is the market. >> were doing very well with china and the farmers are going to do better maybe than anybody. but everybody is doing well, china wants to make a deal, they'd like to see reduction in tariffs and they'd like to see tariffs that are scheduled to go on very soon and they'd like to see them not go on. you know it, they really want to make a deal. reporter: white house economic advisor peter navarro criticizing china for cyber theft, human rights abuses and other sinister roles played no role in the progress that happen with the trade talks today. the chinese are keeping the issue separate it appears. >> more breaking news, we had very good talks this morning and lighthizer had talks on the phone with achieved negotia

so far, all ambassador lighthizer has said is that is not decided yet. have to assume we still have the risk of this escalating further. there seems to be something of a truce right now, but no real fundamental breakthrough. the problem for the president is he is still between a rock and a hard place with the chinese. he is not getting the kinds of in statel reforms owned enterprises and ip and investment policies that he wanted when this negotiation began. he still has not removed the tariffs. if he increases the tariffs, it is bad news for the markets, bad news for farmers, bad news for business. if he signs a deal which does not get these basic changes, people will say his strategy was not successful. david: as we try to piece together what happened last week and how far it went, does it inform us the level at which the discussions will go forward on phase one. you have done these deals. you have been a trade negotiator . president trump said it is a drafting issue. the vice premier himself may be involved. that does not sound like a drafting problem.

the lighthizer rule we work out things behind closed doors.avarro rule is anything that comes out of press is -- charles: we have you on my friend. you're not anonymous source. give me something. i'm working with the president sounds like he wants to get there. he is more ready to get there. >> of course he wants a deal but not any different from the days back to mar-a-lago. he wants a great deal for the american people and he has been -- look, this is a man of steely resolve on this issue. he is standing up to china. you know, look, investors need to relax for a couple days and see what happens. charles: all right. >> rather than get fidget at this to trade around the margins. charles: answer one of my questions they might relax a little bit more, peter. a little bit more. >> remember the lighthizer rule we don't in public. we've done this movie before. charles: is there a chance the terrorist could be pushed out. i think they could be. we'll see. another 72 hours. >> you answered your own question. charles: thanks, buddy, i will see you soon

what are the chances of a lighthizer deal, i.e. everything included?s that possible if you take a step back and look at this conflict between china and united states as more of a geopolitical conflict? jennifer: i think it's hard to see the deal in the sense that this started out with u.s. china's state owned enterprises and subsidies, concerns over forced technology transfer, over intellectual property theft. that was the understanding of what the u.s. wanted. on those goals, they had a lot of the rest of the world with them, even if the rest of the world doesn't support this unilateral tariff tactic we've gone down. the deal now being talked about doesn't touch any of those issues, so i think it is pretty clear that if we don't see a deal that actually removes the tariffs are really rose us back, we are going to have to see a lighthizer kind of agreement with all of those things being addressed. we were relatively close to april, before the chinese walked away from that deal. part of this depends on whether those in china, the reformers and those who

trade representative robert lighthizer reviewed deputy level discussions today between the u.s. and china trade team and there would be more senior-level talks between himself, steve mnuchin and their counterparts in china at the end of the week on friday. the president talking about the china trade deal during the cabinet meeting in which he expressed optimism for phase one of the deal while suggesting it could be the more difficult component. >> while were papering the deal, that is going well and we hope to sign it in chile when we have a summit in chile. or wherever that may be. but we will be able to sign a completed document with china and then start working on phase two. things in phase two are easier than phase one. reporter: there are still questions about whether phase one will be agreed upon before the apex, and chile next month. lighthizer said there are still outstanding issues while the secretary told maria that the mid-november target date might not be as big of a deal. >> there are still some issues we have to resolve. were working towards that goal. >> from mike

the devil would be in marketing any of the progress, although ambassador lighthizer than one in the past to say if there isn't any progress, he'll be honest about that and we'll see where that sets us up for tomorrow >> we know you'll bring us all of these headlines and developments as we get them, kayla, thank you for more on the markets and ongoing trade talks with china, let's bring in our own bob pisani and mike santoli. guys, good to see you. bob, we'll start with you. we are seeing a rally but off the highs of the session how would you characterize it? >> the good news is expectations are very low here. the bar is pretty low for trade. i think the bad news is the daylight to a real deal seems very, very narrow here it's not clear they're offering a real deal. they're offering a sort of truce. they're offering to buy agriculture products which they have done before in exchange for no more tariffs. if that's just a truce essentially, i don't know if the market will be satisfied for that truces basically can be broken at any time and the market doesn't like that. the narrative has bee

, my -- ambassador lighthizer, myself and the vice premier.t be surprised if there were deputy level meetings in person. our expectation is we'll meet with the vice premier in chile before the presidents meet and if we need in-person meetings, more in-person meets to he get this done, we'll do that. >> reporter: a spokes american noting that more work is needed, saying in a statement, the two sides discussed the follow-up consultation arrangements and aa agreed to work together in the direction of final agreement. back to you in new york. cheryl: blake, thank you. well, president trump imposed sanctions on turkey. the president says he is fully prepared to destroy that country's economy. the president is urging turkey to declare an immediate cease fire in syria. vice president mike pence will lead a delegation heading over to turkey. lauren: turkey's president writeing in a wall street journal opinion piece, the turkish military together with the syrian national army will remove all terrorist elements in northern syria. these militants are pre