trade rep, robert lighthizer, says the arrest of huawei executive has no impact on the trade talks with. we will continue to monitor this for any other developments. as you know, the president and lighthizer are meeting with the chinese rep now. >> we are building a lot of wall, you know. i'm not waiting for this committee. by the way, if you go to tijuana and you take down that wall, you will have so many people coming into our country that nancy pelosi will be begging for a wall. she will be begging for a wall. david: president trump earlier today responding to nancy pel i pelosi's statement that there's no wall money in the budget. she hasn't started begging for the wall yet, chad. >> not yet. i did not officially put that call into her office because that's not the case. no. she is not. >> has there been much conversation about the letter that alexandria ocasio-cortez sent about cutting dhs spending? has that been a big topic of conversation amongst the people prying trying to work on this? >> this will be one of the issues. when you talk to appropriators, members working on that co

they're about to leave to go to negotiations with robert lighthizer.ate our expectations, we welcome deborah lehr, vice-chairman of the paulson institute. thank you so much for being back with us. deborah: my pleasure to be here. david: help us calibrate those expectations. the issues have been described as low hanging fruit in terms of buying more goods, on the other hand more difficult things like intellectual property. debra: i think there are difficult issues on the table. for the chinese to make purchases like soybeans, that is easy, more difficult for the questions they go to the core of the chinese economy. addressing state owned enterprise and the role of the state in the economy or certainly the communist party in the economy. those go fundamentally to the chinese system. enforcement will also be critical. it is about making sure there are mechanisms to make sure china is implementing those. in terms of intellectual property rights, we have been talking about intellectual property rights for 20 years. the key is the chinese have been putting m

i was struck by robert lighthizer's emphasis on structural issues and enforcement.e kept saying enforcement, enforcement. >> he is the china hawk in the room. if anything according to our sources he is concerned president trump who is known as a deal-maker will make a deal that is a little bit too easy. we heard the president with very optimistic tone, talking about the comprehensive trade policy and really lauding the chinese for starting to repurchase soybeans again. you have done reporting from out in the midwest, that is our biggest agra export. soybeans. i do know at least from our sourcing that u.s. trade representative robert lighthizer he really wants to crack down on these issues we've been talking about, intellectual property, forced technology transfer but in some ways or in all ways i guess, that really goes against the way the chinese government operates with his businesses. so in some ways, people say what is problematic, part of what we're asking, even if we're on higher ethical ground, is actually not the way anybody in china does business. connell:

once talks get to this level you have people like robert lighthizer the talks, they have to start makingogress with just a few weeks out. amanda: are we looking for meaningful list of things that will not be covered in potential tariffs? what could give the market some guidance on how this might resolve? haven't received a lot of official readouts about what exactly officials are talking about or agreeing to as they are progressing into and a lot of these talks right now. it's really hard to know after the meeting between robert lighthizer in the ohio at the end of the month. the progress they've made. we do know the trump really can't back down from trying to get some hard deadlines, some hard commitments from china on changes to its economy. a deal that only result in china they bring to buy a few more products from the u.s. would all short of what trump has almost worried we will be looking for progress on these tougher issues. under how much pressure is the trump administration to get to a deal? bloomberg reported president trump won a deal to en route to shore up the markets? sarah:

trade representative robert lighthizer will meet since the g20 summit. er is leading talks pro our said along with treasury secretary steve mnuchin. the u.s. trade representative in writing that china will make structural changes including protecting intellectual property and opening market access. the chinese have been playing game of dangling incentives and delaying process. my sources said initially the strategy was to wait out president donald trump and the weakening economy and goal of avoiding 10% tariffs on $200 billion worth of goods going to 25% march 1st. complicating all of this the daughter of the huawei founder remains in canada awaiting extradition for making deals with iran. she will not file formal extradition charges on january 30th which is the deadline. china targeting the u.s. for a push to ban huawei technology because there is potential for spying in it. a spokesperson for the chinese foreign ministry says we urge the u.s. to stop its unjustifiable bashing of chinese enterprises including huawei. a spokesperson said the u.s. and chin

wednesday, negotiations with robert lighthizer to try to avoid further trade sanctions.wednesday, we get the fed's latest rate decision, was everyone waiting to see if it signals any change in its approach to the balance sheet. friday is jobs day for the united states, coming off of surprisingly strong numbers from last month. turning back to earnings, a quarter of all s&p 500 companies , 123 of them report earnings this week. a general consensus among analysts that earnings growth will be down off of the very strong growth last year. but how much will they shrink, and why? to help us answer those questions, we welcome liz young, bny mellon investment management director of market strategy. so we have one point this morning, caterpillar. they missed, and were not very bullish on their forwardg outlook. what does that tell you more broadly about china and the world? guest: industrials tend to be a bellwether for economic activity. no one wants to see a bellwether miss. the important thing is they didn't miss on revenue. the income statement starts with revenue. if topline

robert lighthizer is leading a second day of talks today with china's vice premier, the highest level since president trump met xi. senator bernie sanders wants to dramatically increase the estate tax on the wealthy. sanders is unveiling a plan today that would impose a 77% tax on the estates of millionaires. this week, three republican senators come up with a plan to abolish the estate tax. at the trump administration for peace in afghanistan, a new watchdog report says afghan secured he forces are shrinking -- security forces are shrinking. the watchdog agency also says the taliban are largely holding their own despite a surge in american bombings. in new

the president's top negotiator, robert lighthizer discussed the issues. enforcement is key. something that the u.s. has talked about. if indeed the chinese are agreeing to some sort of enforcement measures, that would be a significant step here. the bottom line with this, neil, the folks here who are involved in this were telling us for the last several weeks, this is the matting that matters. don't worry about the other noise. this is the meeting that matters. now in this meeting we hear that president trump and president xi will probably meet in the grand scheme of this. you heard it from the president, that is the meeting that will really matter. but indeed, between now and then and from over the last couple months until now, it seems as if the u.s. is making progress on this one. >> neil: it is remarkable. make berman, thanks very much. just to review. you have the vice premier, the number 2 in china greasing the skids for a meeting between the two world leaders in february. the president making it clear he's not stopping at the chinese commitment and promise to buy more

also you have robert lighthizer who is pretty tough and understands.re is general consensus in the united states that the chinese cheat. so you have to come up with a deal that has something that actually prevents chinese doing what they normally would do. connell: i don't know what that would be. i keep hearing that there is got to be a way to verify how they would not cheat or go back on some commitments they would not make in a deal? >> you couldn't do it. there is another reason why you doesn't do it. even if you could, the problem the chinese economy is probably now contracting. if it is not there this month, it will be in next month in march. in order to prevent failure of the economy, the chinese will do whatever it takes to keep things going. whatever it takes, includes disadvantaging foreigners. so i don't think you can come up with a deal. no matter how it is structured that would make things look, that would be actually good. connell: thanks a lot, gordon. there goes all the china optimism in the show. we made it earlier. talk to you again s

two countries bloomberg has learned he will meet with treasury secretary steven mnuchin and robert lighthizerkyo, carlos ghosn has been indicted a second time over allegations of financial crimes. he's accused of transferring personal investment losses to nissan and underreporting his compensation. he has been in jail for almost two months in his lawyers say they will apply for bail. 18-year-old saudi woman who fled the country and said she feared death is deported back home, arriving in canada which is offering her asylum. the nation's foreign minister hailed her as a very brave new canadian as she arrived at toronto's airport. her situation has highlighted the cause of women's rights in saudi arabia, were several women abuse by their families have been caught trying to seek asylum abroad in recent years. a divorce attorney has told bloomberg that the high-stakes -- will be handled as quickly as an amazon delivery. the founder of the online shopping giant has a net worth of $137 billion, according to the bloomberg billionaires index. a couple intends to part as friends, and mckenzie could be

trade representative robert lighthizer and treasury secretary steven mnuchin. u.s. and chinese negotiators expressed optimism this week after a mid-level trade talk wrapped up in beijing. carlos ghosn has been indicted for a second time as japanese prosecutors continue building their case against the former nissan chairman. the additional indictment is for acts including allegedly transferring personal investment losses to nissan as well as understating his compensation. carlos ghosn, who has been in jail for almost two months, denies wrongdoing. his lawyers say they plan to apply for bail. japan's prime minister says the whole world wants to avoid a no deal brexit. following a day of meetings between shinzo abe and theresa may, abe publicly backed her brexit agreement. lawmakers continue debating may's deal in the house of commons this week ahead of a final vote on tuesday. >> a no deal brexit will be avoided and in fact, that is the whole risk of the whole world. japan is in total support of the withdrawal agreement right now between the eu and prime minister may.

trade presented of robert lighthizer. he believes that any concessions would be perceived as a sign of weakness. all that aside, the potential new thorn in the side of china is on the table when it comes to trade. that is from a bipartisan group of u.s. lawmakers. i have introduced a bill that would ban the sale of american chips and other components to huawei, zte, and other telecom companies that violate u.s. sanctions. the move risks further escalation in the terms of that trade conflict between the two countries. it will certainly make those upcoming negotiations potentntially even trickier.r. >> nothing would work in hallway and zte plants without u.s. semiconductor chips. they need american technology from tech giants like intel, amd and qualcomm. plans by u.s. lawmakers to ban the sale of chips to companies who violate trade laws. the chinese government has sharp words for what it sees as effoforts to destroyoy china''sh industry. >> i saw the news on the bill, which was hysterical. the action of these few represen

they will likely meet with robert lighthizer and treasury mnuchin.teven they expressed optimism earlier this week after trade talks wrapped up in beijing. >> the current intent is that the vice premier will most likely come to visit us later in the month, and i would expect that the government shutdown would have no impact. we would continue with those meetings just as we sent a delegation to china. debra: carlos ghosn has been indicted for a second time as prosecutors build their case against the former nissan chairman. this is for kimberly transferring personal investment losses to nissan, as well as understating his compensation. been in jail for two months, denied wrongdoing. president trump's former lawyer fixer agreed to testify in public on capitol hill next month. cohen's views could offer a dramatic view of the innerworkings. hush money payments to two women who claimed past affairs with the president. global news, 24 hours a day on air and at tictoc on twitter, powered by more than 2,700 journalists and analysts in more than 120 countries.

expectation is that he could come to washington to mht w treasury secretary steven mnuchin and robert lighthizer if all goes well. today wilbur ross defended the administration's stance. he said china has rlized how dependent it is on the u.s. economy. >> what will come out of it is a resolution, are we going to go the negotiated route or are we going to go in the original rection of higher tariffs. it's really a binary set of decisions. >> reporter: there was also a report that president trump could meet with china's vice esident at the world economic forum in but the white house is not confirming trump's schedule of meetings just yet. we do know that trump will be there. the chinese will be there. we'll see if the two sides will sit down and talk. for b"nightlyiness report," i'm ylan mui. >>> oil prices are b creepingk towards $50 a barrel. saudi arabia plans to make shoe cuts to its crude exports in n effort to push prices higher. lift have gotten a between the easing of trade and economic concerns so domestic crude settled up today about 1%. >>> eli lilly is pushing further into the cancer d

lighthizer will be there. what does that signal to you? does the trade deal get done next week maybe? >> the administration has named roberththizer as n the issue. the office of the united states trade representative is where bob lighthizer is from. it's expected that he should be the lead. it's good the administration has a point person on these issues. that can provide certainty for the negotiations. lauren: tori, thank you for your time. cheryl: investors are watching what is unfolding in beijing. right now, futures are pointing to a solidly higher open for your markets on this tuesday. dow up 113, s&p up 11 and nasdaq is up 28 and a quarter point right now. well, coming up, she cursed president trump, just days a after taking office. >> we're going to go in there, we're going to -- [bleep] cheryl: , now, the congresswoman is under fire for a new rant, this time she is upsetting even more people. you're watching "fbn: a.m." ♪ well, that will be the day when you say good-bye. ♪ that will be the day when you make me cry. ♪ you say you're going to leave me. i'm off to college. i'm worried about my parents' retirement. don'

trade representative robert lighthizer leading snoerkss with and the two sides face a march 1st deadline to reach a deal. at stake u.s. tariffs on $250 billion in chinese goods and retaliation from. china deal or no deal expect pnty of posturing and yes, lots of testy tweets long the along the way. e secondect a rocky road for the new u.s. mexico and canada trade deal. themc will need approval by congss next year. but so far democrats have been g skeptical looor stronger labor and environmental protections. finally bilateral trade deals. look for the trump administration moving forward on bilateral deals with other countries. trade talks with japan and european union may ramp up if they go wl that could put the brake on the threat of new auto tariffs. tht administration could l duties on foreign steel and aluminum. one thing is clear. trump sees tariffs as a way to gain the upper hand in negotiations. for nightly business report, i'm ylan mui, washington. >>> trade and china are te wined which is why developments in the world's second largest economy are closely watched by investors arou

premier and robert lighthizer will talk.posals from china to get more goods described as the easy stuff. they also added changes to their intellectual property regime and are working on some ban that could force tech transfer but there has been movement -- little movement. when you listen to the trump administration officials, they want to see more on ip. there is more movement in these to come. more than china needs to put on the table. one key aspect is an enforcement raising to verify and check any deal. what china will agree to that is crucial. after these talks we are expecting both sides to go back to their presidents, then it comes down to how they decide to move forward. there is a lot of uncertainty on where president trump is taking -- whether he is taking the side of the china hawks are paying more of focus to the impact on the markets. the clock is ticking down. there are several weeks left. the u.s. administration has promised they will raise tariffs from 10% to 20% on chinese goods. a lot of focus on washington

trade representative robert lighthizer is against such a move. may has canceled her trip to davos next week to reach a brexit deal with rival parties. she's also working on a so-called plan b, which will be presented to parliament monday with mp's voting a week later. they say a second brexit referendum remains an option. the eu says they could be flexible if the u.k. changes its stance. bank indonesia says the outlook at the federal reserve prompted its decision to hold rates unchanged at 6%. are halfnor says rates of the effort to reduce the current account deficit and the strategy has almost reached a peak. he says he remains hawkish and preemptive, and fed hikes have been priced in to the planning. four audi officials have been indicted in the u.s. for their roles and a conspiracy to defraud customers and regulators by rigging engines with illegal software to pass emissions tests. that includes the former head of the audi diesel development team and the former of engine registration. the indictment comes weeks after the company posted its fir

we know robert lighthizer, steve chinan, sitting down with , president xi jinping's number one economic emissary. stephen mnuchin telling fox news earlier that he expects significant progress in two days of talks. i don't know how much news we will get until the very end. sources tell bloomberg news that u.s. officials say the two sides are still far apart. u.s. criminal charges against ,uawei, not the best backdrop but a lot of stories from china saying the chinese want to separate this from the question of trade. tried is said to want a deal, not surprising. both sides from people a deal before the march deadline when tariffs could be imposed on chinese goods. president trump may himself meet with the emissary. , but is a lot of pessimism given pressure to get something done, i think it presents a prize for the markets will be if some steps are taken in the direction of a framework that starts to shape a real the. , risk assets have rallied since the start of the year. day, when we are getting on the event risks, brexit, earnings, the fed, and trade. does this open up the in my 4ity t

trade representative robert lighthizer saying he wants a mechanism for verification and enforcement. whatever shape that takes and how it is applied is another question. the focus will shift to the conversations between the chinese vice president and light heiser before the end of this month. >> thank you so much for that. an update on nissan's carlos g hosn. kyoto reporting carlos ghosn suffered high fever and the interrogation has been halted. ghosn has been in jail for about seven weeks. his son says he has been feeding on three bowls of rice a day, he has lost 10 kilos, kyoto saying he is suffering from a fever and his interrogation halted. we will give you an update if there is one later. our next guest believes the reason market volatility ovides an incentive sooner than later. good to have you with us. we have china saying the talks were broad, they were deep. surely the market was expecting more than that. what is the risk of the markets getting disappointed? >> initially in december, they were factoring in there would not be much talk or agreement. there is still a lot to so

so the chinese could step forward and make tweaks around the edges and big purchases but what robert lighthizert others in this administration want to see are structural changes and i think you will hear a lot about structural change changes. >> the president has, to the ire of senior justice department officials, in the past seembly raising the idea of going soft on huawei or this extradition as part of the talks, connecting it to the talks -- >> sorry, going soft -- >> is that a bargaining chip, though, from the president's view, this prosecution? >> going soft on what? i didn't hear you. >> on the extradition of meng, the huawei chief technology officer. is -- in the president's view is that a bargaining chip in these talks? >> it might be. i think this is so critical to helping both our economies perform. people in the united states don't really quite -- the media hasn't covered how damaging these tariffs at 10% have already been. they have warehouses, they have docks, they have factories full of products that they can't sell because of a 10% tariff. this would do significant damage if it w

they stop buying soybeans as a .etaliatory measure but it is the structural issues that robert lighthizerked about and that is the theft of intellectual property by the chinese, allegedly of course, that the united states alleges as well as the state support of key industries and forced technology transfer. these are the key issues. keep in mind -- negotiations have gone back and forth with one stepress, maybe forward, a step back, etc. i'm not supposed to give my opinion, but i have always been pessimistic they will get a lot of progress run the chinese on these key structural issues and that perhaps any kind of deal could be a band-aid to buy more u.s. products, whereas the key negotiations with just a month left to go until that march 1 deadline, there is a lot of optimism but also a lot of challenges to get those structural issues adequately addressed. a notableighs are china hawk saying enforcement, enforcement, enforcement. clearly they want these things to become a reality. i was also interested from a tech perspective. huawei as yet has not really been discussed, but it will be. >

>> i agree with you 100% but let me tell you robert lighthizer is doing this for a long, long time. neil: indeed. >> he knows every trick they played over the last two decades and he is absolutely intent not only making sure these laws are enforced but there is quick and swift retaliation, not going through the world trade organization for 10 years in appeals but swift retaliation in terms of tariffs or other things that would come about and that is the heart of what is being literally negotiated in very tense negotiating sessions right now. neil: fingers crossed as they say, paul, thank you very much, my friend. we were mentioning microsoft, what does the former head of company, founder of that company, think of these latest talks with china and maria bartiromo had interview with bill gates and had some interesting revelations, after this. i switched to liberty mutual because they let me customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liber

lou: let's turn to this president and robert lighthizer his trade representative saying two things that my opinion, one is more tariffs may be necessary for the chinese to understand they're going to have to accommodate a new world order, that is a new world order that the imf, the word bank, the united nations itself should be supporting and that is the president's call for balanced trade globally. and the idea that we should not accept empty promises from the chinese who have made nothing but empty promises to this point. >> well the chinese are under pressure right now in these trade talks. there's evidence that they're having problems with their manufacturing. and they're going to probably be offering things to the united states in these negotiations. and lighthizer is right, they're probably going to offer fake promises like temporarily agreeing to buy more soybeans. lou: by the way, in that regard, let me insert again, fred, when you mention soybeans, we're not an emerging nation. more soybeans does not equal what the world's only superpower and the most advanced economy in the wo

we hear encouraging news including from robert lighthizer's office.set is interesting there was a deal on the table last may, that would have involved china buying soybeans and lng. it sounds like they are dusting off the ideal and putting them back on the table. plus maybe some promises for structural concessions. i think at this point, excite the white house wants a political victory on china. they be they are willing to take less than they were a few weeks or a few months ago. just given what is happening on the domestic homefront. i think it is positive from a markets perspective. the question will be whether 25% levelsrease at on march 1 or whether they stay up to 10%. david: must be optimistic. putme a get the government back together and assumed they actually do make significant progress on chinese strata what to re-rating with that warrant in the marketplace? i am talking about bonds, stocks. a dramaticave seen selloff over the last few weeks because of political and policy risk. you take the china tensions off the table. you reopen the govern

he will meet with robert lighthizer and steve mnuchin.is lockhart would not be surprised if the fed puts its interest rate increases on hold. >> they have every justification, if they wish, to not proceed in lockstep with their earlier increases, but rather to take a pause in wait and see. it would not necessarily signal an end to rate increases. it would simply be a pause to evaluate. says thelockhart government shutdown will have an impact on the economy and the first quarter is often a puzzle because of bad weather. societe generale hit some roadblocks. they expect a 20% decline in trading revenue aftermarket volatility kept clients on the sidelines. he upended the investment industry by suggesting most money managers are not worth the charge. john bogle has died. vanguard into the largest u.s. manager of stocks and bonds funds. john bogle was 89. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am viviana hurtado. this is bloomberg. tom: much mor

the chinese trade and leader will begin meetings with robert lighthizer and steven mnuchin wednesday dedication of ministers have already been dispatched from beijing to pay the way. emerging market currencies strengthen the most since june today as investors anticipate progress. for more on what to expect from this week's negotiations, let's bring in our chief economist, tom orlik. we have seen beijing's long-standing view that firms want to do business in china are not forced to transfer technology. they have also given some concessions about allowing foreign ownerships within certain sectors of the economy. how much can we really expect them to change their views on what structural reforms need to happen, if they really don't seem to think they have a problem? >> that is the key question, sherry. what has changed in the last three months is not that china has made massive concessions in terms of their state driven economic model or their technology transfer, issues around intellectual property. what has changed is the u.s. markets have slumped at the end increasedoncerns have that

we will meet with steve mnuchin and robert lighthizer. the trump and ministration is defending the move to list sanctions on three companies tied to a vladimir putin now. steve mnuchin denied that the action is designed to help the kremlin. the plays a major role in aluminum markets, they say that companies have restructured so that the oligarch is not in control. and in tokyo a second indictment over allegation of crying for -- financial crimes, he is accused of transferring personal investment losses from nissan and underreporting his compensation. his lawyer say he will apply for bail. global news, 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists in more than 120 countries. rotondo -- i am they the end rotondo -- i am vivian rotondo. the opportunities in the year ahead, we are about to find out. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. guy: from london i am guy johnson. this is bloomberg markets. let's turn our attention to the bloomberg. eric joins us for a look inside. >

robert lighthizer said the two sides explored ways to achieve fairness and balance. >> it seems like was an agreement. both sides are saying for china to buy more agricultural products, some energy products and other related products from the u.s., in a sign that they are trying to move to some kind of agreement. both sides said there was progress made. the real question is, can they get this done by march 1? it is not just about dealing with tariffs. they really have to come to some kind of agreement on business and industrial practices in china, that the u.s. says need to change. that is the real question. and march 1 is really not that far away. >> there are a growing number of times that the parliament has a will to reject theresa may's deal. the prime minister suffered his second defeat in two days. this time, losing control of the timetable. if that is the case, where are we? >> what happens next, that is what everyone is scratching their heads about. it certainly seems impossible for her to win this vote. you see what has happened in the last couple of days. she has lost. she

lead representative is not there, which would be robert lighthizer, our u.s. trade representative.s,hink what to watch for is there some sort of announcement that says we have made progress? not so much on decisions but what the decisions would entail. agriculture, intellectual property rights, openness of their economy. the tariffs things will be pushed aside i think. you should be worried if there is such a weak measure that it is not even obvious the china side is going to come back to washington. low probability, but that would be the worry. david: thank you so much as always. strazheim joining us from los angeles. wildfires in california threaten the survival of california's largest utility company. it is our company in the crosshairs next. this is bloomberg. ♪ david: you are watching "balance of power." i am david westin. the stock of the hour is pg&e. in the charter is here to tell us about it. you do not want to have a wildfire and be responsible for it. emma chandra is here to tell us about it. 20%: falling more than after reports they may be weighing the bankruptcy after

at least that is the way it has been teed china's vice premier and the trade representative robert lighthizer in washington on january 30 and january 31. what we know is the chinese have made significant proposals around purchasing goods from the u.s. to close that trade deficit , but key issues remain around home to lecture will property -- around intellectual property. a many trump officials said, scheme awaits to their if i and enforce any agreement. it is clearly a priority for the u.s. administration. how they format will be a central part of the talks. then of course we are to get on the back of these talks, expected to ended january 31, proposals put to the president. just where president trump lies is uncertain at this stage. so, we will have to watch to see fired toare any tweets get a sense of president trump will take a hard line on china. so yes, a crucial week of talks. the chinese will be under pressure to put something new on the table it seems. haidi: in the meantime the wto is expected to begin investigating trump's tariffs on china this week. it could certainly make talks mo

meeting here with trade representative robert lighthizer and treasury secretary steve mnuchin.he chinese foreign ministry implied the extradition of the huawei cfo could affect trade talks next week, quote, we strongly urge the u.s. side to immediately correct the mistake, withdraw the's order for meng wanzhou, and not a make a formal request to the canadian side. she went on to say that the u.s. is abusing the extradition treaty that it has with canada. now all of this will be in the context of what happens with the strength of the u.s. economy. the answer for the white house economic advisors is excellent growth, that would be boosted in china comes through with a deal. >> as example we get a good deal with china, that is positive last year when there was a lot of uncertainty about china. fourth quarter will be 3% that's right. reporter: talk with china is getting tougher as we get closer to the date as they formally submit requests for the huawei cfo. that is june 30th. that is the same day for the minister meetings at u.s. they believe that extradition request will come thr

trade representative robert lighthizer is concerned about on several occasions.d the chinese will try and buy themselves out of the tariff hole. the u.s. will jump at it and leave in place policies that still steal intellectual property of u.s. companies. the chinese confirm their top negotiator is coming here to washington, d.c. on january 30th and 31st. that's the vice premier. that is a critical meeting going forward. kellyanne conway, adviser to the president, says the fact the chinese are even talking about trade moving forward shows that the president's policies on trade work. >> that's exactly what we see happening, because of president trump's trade policies, that these other countries are going to open up their markets. these countries have been stealing our i.p., our technology. we have had tremendous trade imbalances. why should we have billions of dollars in a trade deficit with countries that are prosperous? reporter: the markets like it, regardless of what may be true or not, the fact is they are talking about moving forward and that meeting set. it

also on wednesday, chinese vice premier lu is set to visit washington with talks with robert lighthizer's like a march 1st date, right? oh, we have plenty of time you know, february only has how many days, ed? >> it's the shortest month. >> and it's not a leap year. >> it isn't. so it's -- >> four weeks. >> do you know how many months have 28 days >> i have a feeling you're going to tell me that. >> real news you can use at this time. >> they all do. >> that's where he was going. >> yeah. there we go. >> trick question. trick question they all do. >> i'm always going to fall for it one way or the other. >> it's early. yeah >> you've done >> i need more materials >> that just bounces right off me i'm rubber that bounces right off me. you can't hurt me. okay >> former starbucks ceo howard schultz telling "60 minutes" he is considering a run for the white house. >> i am seriously thinking of running for president. i will run as a centrist independent, outside of the two-party system we're living at a most fragile time not only the fact that this president is not qualified to be the preside

i have a hard time believing that any kind of trade delegation where robert lighthizer has any influencegoing to accept some six year deal to eliminate the trade deficit between the two countries and where we have a lot of big purchases in the o out years when trump might not even be president. if there's a deal, don't even look like this. >> let's look to the next two years under president trump. what are the top things beyond trade that are on the agenda and does he have, what are the odds of success there >> so listen, we had the thing the market liked was the corporate tax cuts and these things detracts from the tax cuts, the trade, i'll call the three uncertainty taxes. trade, that's uncertainty, more recently had the government shutdown and the mueller investigation. that may be a bigger uncertainty tax in the next two years. we'll see what happens with trade. i think the trade issue isn't going away no matter what this deal is because of skepticism on china on both sides of the aisle and one thing to pay attention to was the news break we had about the potential fine against faceb

trade representative robert lighthizer.his wife announcing their divorce after 25 years of marriage. their divorce could cost mr. bezos nearly half of his $137 billion net worth. a reminder, listen to my reports three times a day, cost t coasto coast on the salem radio network. joining us mike murphy, ceo of the venture capital fund. thank you for being here. what is your judgment is driving this market? is it trade negotiations and disputes? it is the fed and earnings, earnings and prospect? your thoughts. >> i think it's all of the above. people are focusing on the negative outcomes. what if the -- we have a 90-day window that started last month with china. what if we don't come up with some sort of agreement there. what if the fed -- today was a positive sign out of the fed. but what if the fed overreacts and raises rates too much. what if earnings starts to drop toch totoo much. lou: don't you think your pal resolved the fed stance here saying they're going to be adaptive, they're going to be flexible, whether it is int

we have a mid-level delegation, not our trade representative robert lighthizer, or steven mnuchin going next week, but we have five weeks or six weeks. can they get a deal done in that time or is this looking into an extension? rufus: ultimately, you will need more time to get real dramatic changes working through a negotiation like this. if we expect to have major agreements with china and commitments from them, a big part of it will not be what the agreed to but how they implemented and whether or not it is effective. changingalk about their roles on foreign investment and technology transfer, how do we measure whether they are accomplishing those changes? we will need a lot of mechanisms in agreement and that is why you need those mid-level people because those are the experts that know how to build those kinds of deals. at a certain point, you narrow it down to the big political blockages. to me, there is not really evidence right now that the framework has been put together for the politicians to come in and close. there is still a lot of work to achieve that. david: there has to b

the united states delegation led by robert lighthizer remained clear about what the u.s. needs. steven mnuchin will also be in the room later this morning. >> the president wants fair trade with china. it's got to be reciprocal. right now, china has free access into our markets and we have limited access to theirs. so the critical issues that we talked about is market access, making sure there aren't forced joint ventures, not forced transfer of technology and that we have a mechanism that when we reach an agreement that we can monitor this agreement and that they'll live up to it. >> reporter: two days of talks start today. the chinese want to avoid the tariffs of $200 billion r worth of chinese good going from 10% to 25% on march 1st. back to you. lauren: 29 days away. venezuela now, opposition leader juan guaido in an interview with trish regan says he hopes the transition to democracy there happens as soon as possible. >> democracy for the region is crucial. this is very clear to president trump. this is the last chapter of change, the last chapter of a nightmare for many ci

steve mnuchinith and robert lighthizer.pacex falcon nine rocket has just started releasing iranian satellites, needed to provide global communication technology. it is the eighth launch and completes the $3 billion system. global news 24 hours a day on-air, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney done here. this is bloomberg. -- i am courtney donahue. this is bloomberg. guy: thank you. check the european stocks. they have settled as we head into the break. this is the picture we find ourselves with us to come through the end of the week. it has been an incredibly bumpy week and we still little more quiet on that front. volumes looking reasonably good. in terms of the way the settlement has gone, not much action in coming through that auction process. the markets you much finishing up or they were. don't forget to tune in to bloomberg's cable show at the top of the hour. you can find jon ferro and myself on london dab digital radio and on all of your

it could just come down to the whims of the president, and we should not forget that robert lighthizers the one leading the trade negotiations, and he is taking a more hawkish stance on china. he will be the one talking to china's vice premier when he heads to washington at the end of the month. and it could go to trump and how he views things at that particular time. vonnie: china said to be offering a past to the u.s. trade imbalance. china would be reducing its trade surplus to zero, basically, by 2024. last year, that stood at $323 billion. >> we need to put this in a bit of perspective. the u.s. exported in 2017 a record $150 billion to china, a record at the time. how you get from the u.s. export side to meet this kind of demand from the chinese is a big question. whether that capacity exists in the u.s. economy, which is already running pretty hot. we do have some time to go in these negotiations. we will see where we go, but this is another sign that both sides are negotiating constructively and there is a lot of momentum towards a deal. kailey: still ahead as we review the wee

tell us about the delegation, because we learned of the deputy, robert lighthizer, would be heading the delegation. i understand they did not make much progress, because it is not senior enough, but the people who know more about it, like you, say no, they need to start at the mid-level to get more work done. shawn: absolutely. this is the hard, detailed work we have not seen so far from other side. you have not really seen this kind of technician or heads intic delegation beijing before, and really the folks who are going to dot the i's, cross the t's, and negotiate some of the hard numbers. is thisshould look for is only two days of talks next week. what we should look for is not a they deal but a sign that have got enough to go on for a more senior meeting, perhaps between bob lighthizer, the u.s. thee official, and liu, chinese official. shawn: thank you so much -- david: thank you so much to shawn donnan in washington. let's get to amazoemma chandra. emma: ubs is in talks with a successor. ubs said to be in the early stages of talks with my so meissner. let's get to the broader mar

robert lighthizer, the trade rep, dismissed the wto in 2001 for allowing china membership. you have people like pete navarro a noted critic of china's policyies. do you now see daylight between what president trump is saying publicly and what these guys have been saying for years if not decades? >> yes there is a great confusion i think chin knowing who is making policy in china. you have the treasury taking a softer line seeking some kind of an agreement you have the trade representatives, navarro and lighthizer who are looking for a harder deal, and the question is where trump will decide to fall in the end we saw in the meeting with xi jinping in buenos aires that he came out wanting basically to, as i say, do a deal, get a deal done now, whether this follows the pattern of the north korean summit with kim in singapore, where there are a lot of honeyed words but very little actually came out of it of substance, that 2019 will tell us >> one of the major sticking points is the technology practices employed in china. if we do see resolution on that front between the u.s. a

robert lighthizer has reservations about the idea. this report moved markets.ment denies it. china warning canada other welby there willn -- we -- be repercussions if huawei is banned from the network. they say there is no evidence huawei represents a national security risk. two canadiansined on national security issues. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am viviana hurtado. this is bloomberg. tom: thank you so much. breaking news, important news for america. this is the percent of employees in tesla, to cut about 7%. is what you normally do at the beginning of the year, but tesla will right size the company. last year was the most challenging in their history to retain most critical contractors. bring up the chart in london, the tesla bond, not the stock. moving down to some kind of stasis. what is important is the idea that this stock is doing better than good. you do not see that in the bond this morning. they are basically putting off in email that they s

. >> reporter: the treasury secretary steve mnuchin a and the top trade representative robert lighthizer will be meeting with the vice premier of china in washington late next week. kudlow says those discussions will b determinative. lauren: the ceos of s six largest u.s. banks called to testify before congress this spring. they're summoned by the new chair of the house fansal services committee -- financial services committee. they want them to talk about their business after being bailed out during the financial crisis a decade ago. the committee features a group of freshmen from the democrats' vocal liberal wing, including a lot of freshman. alexandria ocasio-cortez being one of them. katie porter from california another. cheryl: staying with the democrats, they could be looking to make taxes their signature selling point in the 2020 presidential race. democratic candidate elizabeth warren jumping in and she is already sparking debate. she's proposing an annual wealth tax. her plan would impose a tax on household wealth above $50 million. she says the tax would raise nearly $3 trillio

trade representative robert lighthizer had a trilateral with the eu trade commissioner and japanese to talk about changes for the wto, specifically going after companies like, countries like china, that forced the transfer of intellectual property. this is the fifth such meeting the group has had. they are working towards an agreement how they change within the wto and other frameworks to stop other countries from doing that. back to you. connell: good summary, edward. i like you said that meeting about china went better than the white house. that went out on a him be. melissa. melissa: oil topping $50 first time in 2019. settling up 5%. phil flynn, at cme oil on the way back. look at that. >> i love it. it is showing economic optimism. when we saw oil prices crash. we saw the global economy falling apart. all of sudden we're seeing optimism. this rally came as we got somewhat bearish report showed a big build in gasoline inventories. a big build in dissill latin inventories. they are focused on these fed minutes where the fed is saying hey, listen, we'll not be raising rates. we'll be