show our viewers what robert light hazard -- robert lighthizer had to say at the opening. robert: use of the president about nafta, which i completely share, are well known. i want to be clear that he is not interested in a mere tweaking of the provisions and a couple of updated chapters. we feel that nafta has fundamentally failed many, many americans. here are some of the examples of what i believe needs to change. need to assure that the huge trade deficits do not continue, and we have balance and reciprocity. this should be periodically reviewed. on autos andularly auto parts, must require higher nafta content and substantial u.s. content. country of origin should be verified. the provision should be included in the agreement, and be as strong as possible. the agreement should have protective provisions to guard against currency manipulation. resign, respect our sovereignty and our democratic process. we should have provisions to guard against market-distorting practices of other countries, including third party and state owned. host: where, in what you just heard from

today, robert lighthizer and com sub-saharaned the economic trade and cooperation forum in togo. and grace together foreign minister's -- it brings

trade representative robert lighthizer to investigate china's potential intellectual property violationschina's economy shall further signs of entering a second-half slowdown. with the latest is jimmy chang, chief investment strategist at rockefeller and company. let's start with a backdrop here. we got economic data from china over the weekend. they must be disappointed. -- numbers on retail sayers sales and industrial production came in lighter than anticipated and represented a slowdown. are we getting evidence of the prospect that a chinese slowdown is back? mr. chang: i think these are isns that peak growth period probably behind us, which happened in the first half of this year. this is by design. one of the most underrated stories in terms of generating growth and synchronized global recovery has been chinese reflation. it started with real estate markets in early 2016 and it has been out of control. prices increasing 30% year on year in some cities. even now, prices are still going up about 9% to 10% year on year. this is by design for the economy going into the second half where

show our viewers what robert light hazard -- robert lighthizer had to say at the opening. robert: use of the president about nafta, which i completely share, are well known. i want to be clear that he is not interested in a mere tweaking of the provisions and a couple of updated chapters. we feel that nafta has fundamentally failed

today, robert lighthizer and com sub-saharaned the economic trade and cooperation forum in togo. and grace together foreign minister's -- it brings together foreign ministers from several other nations. they intend to lay the foundation for mutual prosperity between africa and the united states. we are focused on building a more robust sub-saharan trade relationship. the united states is working with our partners to deepen fre e, fair, and reciprocal trade. that is all that i have in togo. i will take your questions. would you like to start? >> understanding the importance of togo. >> turnaround and say that to the folks in togo. they say it is important. >> i am not taking away from the importance of togo. i would like to estimates of the else. i will let you guess. north korea. can you explain to the american public, and perhaps the rest of the world, exactly who they should be listening to in the u.s. government when it comes to north korea and what the united states policy and posture is? >> the united states is on the same page, whether it is the white house, the state depar

trade representative, robert lighthizer, to consider launching a formal investigation into china's aath of intellectual property -- alleged theft of intellectual property. property, soal vital to our security and prosperity. towe are still a long way the trade war that we thought we'd have at the start of the year. another play in the larger geopolitical jigsaw going on around north korea. president trump is using -- trade as a stake. k. as a stic when youis a grievance listen to chambers of commerce, around the world, we are a long way from the trade war. the u.k. government published the first in a series of brexit papers aimed at smoothing its divorce from the eu. the u.k. request being met with some resistance as the eu says frictionless trade is not possible outside of a single market. no cherry picking. possibilities -- one is a streamlined system, where -- smooth and frictionless as possible. or exports coming and imports bying in to the eu, treated , according to u.k. rules, and vice versa. it is slightly complicated, not clear how it would work in practice. it would mean tha

robert lighthizer will meet his mexican and canadian counterparts in washington to kick off nafta renegotiationsthe white house says the first round will be quite ambitious, it will take a tailored approach to trade deficit with each country. >>>ful with >>> wells fargo announcing some changes to the board stephen sanger will be stepping down by the end of this year former fed governor elizabeth duke will be replacing him cynthia milligan and susan swenson will also be stepping down you spoke to the you'll going and incoming chairs last night >> the main takeaway -- the first point is the reason for the timing of this announcement, both were adamant it was not a quick reaction to the recent declaration from the company that the time frame of the cross-selling scandal is being extended nor that they knew the new issues in auto lending the timing is a response to the poor set of votes from the april agm. more interesting is i asked duke whether she was confident that wells fargo's recent turmoil was behind the company she says it's hard to say. we're finding the better we get at digging, the bette

trade representative robert lighthizer echoed the agreement that led to the quadrupling of trade between the three countries has failed many americans. kayla tausche has more. >> reporter: day one of nafta renegotiations showed the three countries have quit disparate views over how the agreements played out canada's foreign minister called nafta an engine for jobs and growth mexico's secretary of the economy called it a success for all parties. the u.s. trade representative said the deal while beneficial to u.s. farmers cost 700,000 american jobs. that's a view that echoes president trump's. >> i want to be clear that he is not interested in a mere tweaking of a few provisions and a couple updated chapters. we feel that nafta has fundamentally failed many, many americans, and needs major improvement. >> that view struck some diplomats on site as harsher than expected. but not altogether surprising considering president trump has threatened to exit the agreement if it does not benefit the u.s his main issue is a trade deficit with mexico, and a goods deficit with canada. something that mi

trade representative robert lighthizer says president trump is not interested in tweaking the pact withanada and mexico. he blames nafta for a direct loss of 700,000 u.s. manufacturing jobs since it took effect in 1994 he warned the u.s. would use its clout as canada's and mexico's biggest export partner to get more concessions than perhaps expected >> i love digging through trade deals. on whether it's a success or not should not be on whether it lowers the u.s. trade deficit. it's unclear if president trump agrees with that that would make it difficult for any changes without dig nothing details. >> completely agree, when you see those interviews with wilbur ross, he doesn't focus too much on the deficit >> still ahead a round up of the top stories including the continued fallout between big business and president trump stick with us. "worwi ehae"ilbelddexcng wl right back i love you, couch. you give us comfort. and we give you bare feet, backsweat, and gordo's... everything. i love you, but sometimes you stink. soft surfaces trap odors. febreze fabric refresher cleans them away for g

getting back to nafta, robert lighthizer has been pushing this sts -- isds.g i i know you and the labor movement have been sharply critical of isds. think that is a workable solution or at least improvement? slightly better than what we have, but the -- but it doesn't get us where we were or where we need to be. special -- for investors. no worker has access to it. they don't need that right. if they have that right, than the rest of us should have that right. optf the u.s. were not to in, would that be a significant improvement? >> yeah. just to go back to the election, you mentioned your hometown a lot. i looked it up three days after the election. it's too small for its own polling place. the county went 71% for trump. what do you say to your folks there next time? >> -- next time or now? startait until 2018 to talking to them, i waited too long. [laughter] need, what they don't want and what they don't appreciate if someone coming in a couple of days before the election saying though my way, vote for me. they want information. and that's what i try to do. i try to give them that inf

trade representative robert lighthizer is expected to begin an investigation into those practices using rarely used tool, section 301 of the trade act of 1974, which allows a president to unilaterally impose tariffs or other trade restrictions to protect u.s. industries. meanwhile, "axios" reporting that president trump is taking actions after hearing complaints from silicon valley executives who say that chinese intellectual property theft is one of the biggest challenges they face and that billionaire investor and presidential adviser peter thiel was involved in crafting this step. the move will likely be supported by some democrats, ron wyden and sherrod brown urged him to rein in china and chuck schumer was especially supportive of protecting american intellectual property. >>> now to an nbc news exclusive. there are deep misgivings within the white house about the american approach in afghanistan, and they came to a head during a meeting in the situation room. nbc news wheef white house correspondent hallie jackson has the exclusive story. >> reporter: an exclusive look behind the

to the trade tensions between washington and beijing, he signed an executive memo directing robert lighthizerider an inquiry into how american companies in china are forced to hand over expertise. potential reprisals include tariffs on chinese goods. steeper than expected inflation. cpi rose 2.4% in july from one year earlier, and that is faster than the 2.1% estimated in the bloomberg survey. it is in line with the r.b.i.'s view. also prices also rose, indicating building pressure. on jd.com posted a wider quarterly loss after raising spending to drive sales at its midyear promotion. of $74 million is twice that from one year ago, despite sales rising 14%. shares fell sharply in the regular session. jd.com is facing competition from alibaba and smaller players while expanding rapidly into southeast asia. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than hundred 20 countries. this is bloomberg. betty: thank you. shery: let us get more on what we should be watching in asia with adam haigh. adam, we saw commodities bubble, .eing propped up we are heari

trade representative robert lighthizer called for an overhaul of nafta, the north america free tradeegin on revamping the 23-year-old deal between the u.s., canada and mexico. >> for countless americans, this agreement has failed. we cannot ignore the huge trade deficits, the lost manufacturing jobs, the businesses that have closed or moved, because of incentives intended or not in the current agreement. leasthe also said that at 700,000 americans have lost their jobs due to changing trade flows. the president adding a note toward kim jong-un, tweeting he made a wise decision, apparently referring to him not watching a missile toward guam. mr. trump said the alternative strophic." been "cato and queen elizabeth has arrived in its home port in southern england. tens of thousands of people jammed the harbor in portsmouth to welcome the ship, which has been at sea since june. the queen elizabeth cost almost $4 billion. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. ♪ thank you. "what'd you

when robert lighthizer when gary cohn was reported to leave, the markets went down, so setting up forofter opening in asia. >> i thought it was interesting given the price action on friday that we saw for the first time the s&p fall 1% thursday. on friday, if followed with a decline. we haven't seen that movement since brexit last june. here is how we are trading for new zealand so far. slow going in the red, down point 20% the dollar weakening against most currencies, g10 currencies, with the exception of the swissie and the kiwi. australia, fortescue earnings coming out any minute. we also are seeing wti holding on to gains after 3% jump on friday on u.s. shale explores reducing rigs. futures pretty flat for the open in sydney as well. nikkei futures, upside 55 points after that dramatic selloff of on the nikkei 225 friday, down more than 1%, dollar-yen seeing a little bit of a temporary weakness for yen. >> let's get the first word news. spanish police say they are no closer to finding the suspected terrorist leader behind last week's attack in barcelona. they have the names of the

trade representative saying they would not accept a simple tweaking, but robert lighthizer saying theye. this is tokyo. next on ae re-open down day for equities. ♪ rouhani told lawmakers the country with achieve more by being united. address theump to nation monday on u.s. policy in afghanistan. he and his defense team met friday. the president said decisions had been made but gave no details. it is thought troops could be sent back to afghanistan to train local forces. the president has demanded to know why the u.s. has been in afghanistan for so long. thailand's economy grew faster than expected, lifted by a recovery in tourism and exports. 3.7%, the median estimate was 3.2%. thailand strengthened on the back of global trade, but the economy still lags in southeast asia. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. sophie: a check on the markets, asian stocks with sydney shares leading the drop, trading files -- finds extending the drop in the afternoon session. to stocks,es bluescope steel slumping in sy