lou: robert lighthizer the u.s. trade representative with a great sense of humor. on wall street stocks hit record highs for the third straight day. it's incredible, that ties a number of record closes for all of 2018. the s. -- the s & p up 13 points. president trump earlier today summing up the markets strong performance. he tweeted this. new stock market regard again today. congratulations, u.s.a.! gold down half a percent, silver down half a percent. consumer spending, strong inventory investment driving stronger gdp growth. a reminder to listen to my reports three times a day coast to coast on the salem radio network. john bolton taking to twitter to issue a warning about america's national security. he said it probably goes without saying that our national security priorities is under attack from within. america is distracted. our enemies are not. a judge delaying the' decision on general michael flynn until after the horowitz report on fisa abuse. the report will be released december 9. the judge will determine then what the prosecutors do. let's turn to kt

trade representative robert lighthizer, and treasury secretary steven mnuchin.dfire that arrested overnight near los angeles has forced 7500 people to flee. -- blaze comes as as it tries to skirt u.s. sanctions that limit access to the global financial system. u.s. dollars and euro notes

lou: today peter navarro, trade czar, said every day we talk to the chinese ambassador robert lighthizeroing a great job. the president said we are on a path to a phase one agreement. as the president said, i will wait as will you, gordon, i'm sure, for the president to speak on this. robert lighthizer made it clear that the white house is not going to get involved in the day-to-day nonsense discussing a trade deal that is not resolved. we are coming right back. any comments doug? yeah. only pay for what you need with liberty mutual. only pay for what you need with liberty mutual. con liberty mutual solo pagas lo que necesitas. only pay for what you need... only pay for what you need. liberty. liberty. liberty. liber♪y [♪] lou: adam schiff's sham impeachment extravaganza started, at least the public part, today. his two star witnesses sharing their hearsay and congressman jim jordan pressing him on his knowledge of the identity of the whistleblower. >> you are the on member who knows who that individual is and your staff is the on staff of any member of congress to talk with that individ

negotiator, liu he, speaking with treasury secretary steve mnuchin and trade representative robert lighthizerht. according to china's ministry of commerce in a statement, china says both sides discussed resolving core issues of common concern and reached consensus on how to resolve related problems ahead of a phase one trade agreement. in hong kong, chief executive carrie lam making her first weekly briefing since this past weekend's elections, appearing to offer no new concessions to protesters, despite the overwhelming pro-democracy electoral victory over the weekend there. >>> and fed chairman jay powell speaking yesterday evening in rhode island, signaling that interest rates are unlikely to rise any time soon and that the bank remains committed to its 2 porti2% inflation target >> monetary policy is now well positioned to support a strong labor market and return inflation decisively to our 2% inflation objective. at this point in this long expansion, i see the glass as much more than half full with the right policies, we can fill it even further, building on the gains so far and spreadin

i mean, robert lighthizer is the best trade representative we've ever had. this president, we've gotten deals across the board with japan -- and, by the way, that u.s./mexico/canada agreement is locked and loaded, ready for nancy pelosi to pull the trigger. if she would stop trying to unseat a duly elected president for a few minutes, we'd get that done for farmers, ranchers, workers and manufacturers. ed: yep. >> and, you know, one of the problems here in the swamp is these people don't seem to be able to walk and chew gum at the same time. ed: that's interesting, because you bring me to my next topic which was going to be usmca. i did my homework, and i saw a few weeks ago you charged that nancy pelosi, quote, fiddles while the usmca is in the deep freeze. >> stand by that one. ed: clearly, based on what you said. but i want to update it because speaker pelosi, in fairness to her, a couple of days ago said that a deal on that could finally be imminent. is she just all talk? because on the other hand, she's doing impeachment, as you say, or are we closer to

lou: today peter navarro, trade czar, said every day we talk to the chinese ambassador robert lighthizerresident said we are on a path to a phase one agreement. as the president said, i will wait as will you, gordon, i'm sure, for the president to speak on this. robert lighthizer made it clear that the white house is not going to get involved in the day-to-day nonsense discussing a trade deal that is not resolved. we are coming right back. i've always loved seeing what's next. and i'm still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve

lou: today peter navarro, trade czar, said every day we talk to the chinese ambassador robert lighthizerath to a phase one agreement. as the president said, i will wait as will you, gordon, i'm sure, for the president to speak on this. robert lighthizer made it clear that the white house is not going to get involved in the day-to-day nonsense discussing a trade deal that is not resolved. we are coming right back. ow glo. i'll get that later. dylan! but the one thing we could both agree on was getting geico to help with homeowners insurance. what? switching and saving was really easy! i love you! what? sweetie! hands off the glass. ugh!! call geico and see how easy saving on homeowners and condo insurance can be. i love her! ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on ♪ blow a kiss into the sun ♪ we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪ (groans) hmph... (food grunting menacingly) when the food you love doesn't love you

trade keptive robert lighthizer and treasury secretary steven mnuchin talked by phone with the chinese vice premier. the white house released a statement saying the call was constructive and made progress in a number of areas. some of the issues could be on intellectual property theft section. >> enormous progress has been made on intellectual property theft issues. reporter: agriculture, forced partnerships with chinese companies and currency manipulations are almost finished. the chinese release their own statement on the call saying it was constructsive but there are still concerns to work out. david: president trump touting the numbers and taking up the impeachment inquiry, calling the democrats crazed lunatics. reporter: tupelo, mississippi, it's the president's first campaign rally since that first important vote yesterday. the president talking you have the big economic numbers suggesting american prosperity could be at risk if democrats impeach him. president trump: you have the greatest economy in the history of our country. the highest stock market, the best employment number

secretary alex azar, acting secretary kevin mcaleenan, administrator andrew wheeler, ambassador robert lighthizerny, many folks from congress are in the audience, senators and everybody. you're all here. we love you all. and we have a good friend of mine, bill posey, representative bill posey. you're here someplace. thank you all for being here. a lot of power sitting on this lawn and standing on this lawn. throughout this season, the nationals captured the hearts of baseball fans across the region and across the country. america fell in love with the nats baseball. they just fell in love with nats baseball. that's all they wanted to talk about. that and impeachment. [laughter] pres. trump: i like nats baseball much more. [laughter] [applause] pres. trump: you worked every count, hustled for every base, you fought for every run, and produced a comeback story for the ages. never happened like what happened with the nats. and that means a lot of good decisions were made. you reminded us all why baseball is truly america's pastime. so great for the sport. nearly two months into the season, the nats

the vice premier has also invited robert lighthizer to china for talks this month. negotiations have taken an uncertain turn this week after the u.s. congress voted in favor of legislation supporting hong kong protesters. hsbc ceo says it is hard to replicate china's production capacity anywhere else in the world. he spoke at the bloomberg new economy forum right here in beijing. >> i think that there are some long-term shifts taking place. i think we are getting much more regional in the supply chain so that you are closer to your customer. i think the emergence of consumer markets in asia, china, and the rest of asia are forcing people to put their supply chains closer to the consumer markets. there are long-term shifts and buying patterns in the underlying markets. there is the tactical changes taking place as a consequence of trade attention. that is definitely happening as well -- trade tension. that is definitely happening as well. inhink shifting production china are closer to the u.s., great in theory, but in practice, the production capacity of china is imm

trade representative robert lighthizer.ng to get usmca for ratification vote this year. the house speaker told me that the ball is now in the administration's court. she said she's telling freshmen democrats who support usmca that these things take time, hinting it may not come up this year. listen. >> i'm not even sure if we came to an agreement today, that it would be enough time to finish, but that just depends on how much agreement we come to. again, we know what the areas have been, enforcement overarching. under that, labor, workers' rights, et cetera, pharmaceuticals, environment. we'll see where we are on all of those. reporter: on china, some clarification from the chinese commerce ministry on reports saying the phase one trade deal is in trouble, calling that just rumors. a spokesperson went on to say that the chinese will work with the u.s. to address core concerns, trying their best to come to a phase one deal. now, also, the chinese indicated that that bill that the president is expected to sign about hong kong

she says i just need to see what we discussed robert lighthizer in writing.ord is they are dancing around the edges. this thing is done. they are -- another reason why the market surged yesterday was rumors that we're getting closer and closer to a phase one deal with china. i know they are famous for switching at the last minute. having said that people in the know yesterday believed it. the stock market went up 190 points. steve: brian, don't you think nancy pelosi is not going to bring the usmca thing up for a vote until she has done what she is going to do for the president? whether it's impeachment orson sur. not going to do anything ledges laivelly until that is cleared. brian: i believe i have to see how many ledges laivel dates are left. i believe it will get done before 2019 is done. steve: usmca? brian: yeah. steve: wow. you are optimistic. brian: now it looks like impeachment goes over to nadler's desk, which is fascinating because doug collins knows nothing about it. he is going to say -- schiff is going to say here's my case. you take it because

trade keptive robert lighthizer and treasury secretary steven mnuchin talked by phone with the chinese vice premier. the white house released a statement saying the call was constructive and made progress in a number of areas. some of the issues could be on intellectual property theft section. >> enormous progress has been made on intellectual property theft issues. reporter: agriculture, forced partnerships with chinese companies and currency manipulations are almost finished. the chinese release their own statement on the call saying it was constructsive but there are still concerns to work out. david: president trump touting the numbers and taking up the impeachment inquiry, calling the democrats crazed lunatics. reporter: tupelo, mississippi, it's the president's first campaign rally since that first important vote yesterday. the president talking you have the big economic numbers suggesting american prosperity could be at risk if democrats impeach him. president trump: you have the greatest economy in the history of our country. the highest stock market, the best employment number

are watching news organizations reported from the other side, while the trade representative robert lighthizerants his team to maintain silence apparently. is that true? >> sure, lou. lou: there is nothing unique about that. most negotiators want precisely that. >> the navarro rule, if there are any anonymous sources, they are fake news. i heard somebody joke negotiations with the chinese don't begin until you have a handshake deal. that's i think what's going on here. the spectacle of the chinese propaganda press putting out information like that, they are just negotiating the public trying to push us in a direction. the president makes these decisions. lou: thank god he makes those decisions. >> we are going to have a phase one deal with the chinese on the president's terms. but december 15 looms. that's when the next bunch of tariffs go on. the reason the chinese are complaining about the tariffs is they are working beautifully. lou: we have a problem with chinese sources because that's a foreign government, some news organizations forget that, trying to have their way in our society in our

that's why i do this and not that. ' trade representative lied highser made it clear -- robert lighthizere it clear he's focused'. >> the president is a master negotiator. but until he turns his attention to the final phase, we won't know if he has the office in beijing opened up where complaints are heard. we won't know what ambassador lighthizer discussed almost a year ago will be set up wp, this when the chinese' are punished. lou: the theft of intellectual property there will be is a discussion whether the chinese want the president to lift the tariffs. the question comes, do these tariffs remain? do the tariffs set to go into effect september 15? the president has more than once extolled the virtues of these tariffs. and i think he's exactly right. >> it's main source of leverage along with a black list. there are 29 chinese companies on the black list and pressure seems to work. lou: wilbur ross, the commerce secretary made it sounds like they are coming off it. >> they will be on the list, i think is what he said. but they will have waivers, where us companies can sell chips to the

robert lighthizer says he will only travel to china if xi promises to end theft of technology and forcedech transfers. the chinese foreign minister warning of retaliation if the president signed ask the bill siding with the protesters in hong kong. chinese say they will take rest liewpt revenge, and all consequences will be borne by the united states. fred, good to see you. before we get into fiona hill and the rest, your reaction to the rhetoric of the chinese, even as they are inviting the united states to beijing for more trade talks. >> well, beijing does not want the president to sign this big in hong kong. but i think they realize it will happen. the administration has tried to support the people of hong kong without -- without an tag nighing beijing and making the problem worse. but they have to do something. lou: to the credit of the house and the senate. i am told some members -- and i'm not going -- our sources tell us a number of members of the administration at the cabinet level tried to talk two senators into voting against the legislation. don't you agree it would be very p

peter navarro talked about a trade with robert lighthizer. >> my lighthizer rule is all negotiationshould be behind closed doors. we're on a glide path to a deal. >> a glide path to a deal. navarro would not say if a deal would come before the end of this year. until then, tariffs remain on goods, includie ining ag produc. president trump promised cash to u.s. formers before thanksgiving. on friday, the government says it would begin a second round of bailou bailouts for farmers this year. the farmers have been the collateral damage in the president's trade war. >>> are boeing's days of self-certification coming to an end? revealing comments from the head of the faa. >>> the head of the faa is considering an overhaul of their approval process after two crashes by boeing 737 maxes. he called on pilot reaction and human factors highlights new items from the ntsb. a list of rules from the faa, coming in at the end of the process to assess the design. the faa has been criticized for outsourcing much of the certification to planemakers themselv themselves. >>> syracuse university is suspe

there was a phone call between he chinese vice premiere and robert lighthizer and secretary treasury.are towards finalizing the phase one trade accord between the world's two largest economies. china has won the permission to impose $3.5 billion in sanctions against the united states. the damages awarded are the third largest in w.t.o. history. it pre-dates the current trade war between the two countries. did not meet a deadline to modify its antidumping regime and set back for the way america restriggets cheap china imports. erdogan held talks with united states secretary general. the discussions were likely to have been dominated by turkey's offensive in northeast syria. earl on this trip, he addressed a mediation conference. chicago teachers and students affected by an 11-day strike returned to classrooms this morning. it was chicago's longest walkout by teachers since 1987. attentative agreement that ended the walkout is expected to shape education for the next five years include class size limits and additional social workers nurses and support for homeless students. both sides s

robert light highser says that -- ligh -- robert lighthizs that could mean a billion in trade for i.sfarmers. the chinese would like to see tariffs rolled back or paused. the u.s. wants to use tariffs to make sure china following through with what they promise. lou: the radical dimms expanded their nonstop impeachment charade and farce. david holmes, a state department official who claims to have overheard a telephone call between president trump and ambassador sondland will testify thursday. that makes for a full schedule of 9 witnesses over fired hearings in three days. does it sound exciting to you? it does me. as washington prepares for this full week of workout releasing the closed door basement testimony of two other witnesses. the new transcripts from jennifer williams, an visor to vice president mike pence and tim morrison. the weekend release, possible effort by schiff and the radical dimms to hide testimony damaging to their impeachment narrative since everything seems to under cut everything they are trying to do. under questioning, morrison said he believed the transcript

it may not come from robert lighthizer, but more from the white house, because they are determined toonfront beijing. tariffs,n trade, doesn't mean we will see a slowdown against actions from chinese technology companies, actions on the trade front. those pressures will weigh on the sustainability. romaine: can we talk about maybe what the resolution could be? there seemed to be a sentiment that this was sort of hong kong united or as united as you could be in a society like that. i am starting to get the sense now that this is not necessarily the case? >> the political crisis, had it in addressed in june, we might have seen an easy resolution. now there are deep fissures in hong kong society and the identity relative to the mainland. it will be difficult to see reconciliation. the next few weeks are likely to be critical. we are at the moment right now where some of the support for the protesters has declined as people become worried about the level of violence. the challenge right now for the hong kong authorities is, can they find some way to diffuse tensions. it is going to be ver

some of the optimism you hear from people like robert lighthizer, who is very cautious about his wording, i think gives you some hope. guy: marvin is going to stick around. marvin barth, barclays had of global fx strategy. vonnie: let's get a look at markets. more positivever tone we heard from the president on u.s.-china trade, it does not seem to be filtering into equity markets. you have the market here lows on the session. the nasdaq is up about 0.1%. the s&p 500 is set to fall for the first week in seven weeks. the outperformance and the u k stocks, the ftse 100 is now up 1.3%. 500last time the s&p actually moved 1% or more was back in mid-october. here is a possible look at why. the white line, the realized correlation among stocks. we can see that correlation falling. that is why you are not seeing big moves on the index level. the macro is not mattering as much as the micro. in the yellow line, the implied correlation, which suggests those macro things might be, more important. check on take a quick some consumer stocks doing well. nordstrom is the best performer on the s&p 500,

upeeting has just wrapped between robert lighthizer and his canadian counterpart and the mexican negotiatorat included an agreement -- not included an agreement this time. they are going to me as soon as friday to wrap up the final issues. democrats in the house of representatives are pushing for changes in the enforcement of labor rights. this needs a mexican and canada sign off. it is going to require changes to the base of the agreement. there is a multipronged effort to get this on track and get voted on in the house by the end of the year. shery: what exactly are the issues at play in the moment? we heard from nancy pelosi this would help america's workers. the original- nafta was not really enforceable. anre were supposed to be arbitration mechanism put in place. the accused party of the three could just block formation of the panels. it looks like that is going to be resolved. further than that, the u.s. labor unions want labor rights to be enforced by blocking products made in factories not obeying labor laws to be blocked at the border. that is something mexico says it cannot accep

the vice premier spoke with the treasury secretary steven mnuchin and trade representative robert lighthizer that came out of washington's request. they agreed to stay in close contract -- contact as negotiations move into the final stages. and the people's bank of china says it is ready to take any measures necessary to support the economy as investment growth slows and factory outflow remains sluggish. an increase in challenges from a previous bid in august and renewed concern about inflation. the external environment has limited scope for action. where thenka, presidential election has ended in victory for china-friendly to -- former defense investor. 52%, which than showed the country remains deeply divided along ethnic lines. took the north of the island. global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. have some more live pictures for you from hong kong. this time we have the hong kong mtr saying the train service on top of the east real line will be suspended. t

nancy pelosi and robert lighthizer failing to seal a deal on a new north american trade treaty whichan agreement will not go this year before congress for a vote. pelosi is eager to get a deal done but would not agree to a superficial agreement. house democrats are leaving donald trump in suspense on where the impeachment goes up next. they wrapped up their last public hearing on ukraine and will have to decide to schedule more or not, or take the next move of impeaching the president. in hong kong, the high court allowed the government to reinstate its ban on wearing masks for seven days, according to radio television hong kong. earlier this week, the court ruled the ban was unconstitutional. banesters say the mask makes it easier for authorities to identify them. 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. francine: thank you so much. european central christine lagarde gave her first speech this morning. policyfirst is monetary and i'm saying that b

nancy pelosi and robert lighthizer fail to seal a deal on a new north american trade treaty.increases the chance and agreement will not go before congress for a vote this year. speaker pelosi says she is eager to get a deal done but said she would not agree to a superficial agreement without stronger enforcement. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. kevin: this is "balance of power" on bloomberg television and radio. i'm kevin cirilli. vonnie: i'm vonnie quinn. 20 days until u.k. general election and boris johnson's is the issuerexit on the campaign trail. david trimble was one of the architects of the 1988 good friday agreement, which has lasted 21 years now and counting. is the issue he says the prime minister's plan for a process of brexit ireland is better than a solution than the so-called backstop. he argues the backstop would undermine the belfast agreement he helped negotiate. for more, we welcome lord david trimble. i'm curious, your

more especially since our trade ambassador robert lighthizer has been working with my colleagues across the aisle over there in an effort to settle labor issues and also environmental concerns. i've been down that road before. the honorable lagarza, the late lagarza but a wonderful man who was chairman of the house agriculture committee, i was the ranking member there, became the chairman, and we worked on nafta, writing that bill. so we would revert to that bill but after months and months and months and months and finally agreement between canada, mexico, and the united states and we were ready to do this, it has to go to the house of representatives. ambassador lighthizer, bob, used to work for bob dole, good friend of mine, has been working with democrats over time on these two issues and tells me that he's pretty close to a deal. except that we're not. now, ambassador lighthizer on behalf of the administration is not going to send this deal, if you will, or this trade agreement to the house unless that there is a clear intention that it will be brought up. doesn't want to be held h

we also know from wilbur ross and from our sources that ambassador robert lighthizer, the u.s.e

would require negotiations, the canadian say they are in close contact with democrats as well as robert lighthizerthey are pushing for a ratification vote to be scheduled and also today back on twitter and grantee, national security advisor john bolton saying that he was blocked or limited from getting back into his twitter account because the white house would not release access to that account. bolton says maybe they're concerned about what he has to say. liz: thank you for the update. i appreciate it. the house is racing towards impeachment, law professor legal expert calls it the narrowest basic for impeachment in the history of the country. the shortest investigation, underdeveloped record, no smoking gun e-mail or document. let's bring in fox news contributor of the wall street journal editorial board. the president wants a trial with joe biden, hunter biden, and the whistleblower and adam schiff. >> it means they don't have the republican votes in the senate to dismiss is out of hand. but i'm not sure he's wrong about that. in the senate senate the president would have for to bring -- parti

trade representative robert lighthizer.earned that canadian deputy prime minister will be in washington for a session this evening. rudy giuliani's company negotiated earlier this year to represent ukraine's top prosecutor for under thousand dollars, according to a washington post report. -- four $200,000. to beent trump was said in talks with yuri lee cinco during the same time the two are working to dig up dirt on former vice president joe biden. there has been a second smaller explosion at a east texas chemical facility in the beaumont area east of houston. it is still burning after more powerful explosion overnight ripped through the plant. multiple people were injured in the original blast. the albanian red cross confirmed at least 31 people dead after up 6.4 earthquake yesterday. albania's defense ministry confirmed hundreds more injured. rescuers continue to search through rubble of multiple collapsed buildings where people are believed trapped. global news 24 hours a day on air and at tictoc on twitter, powered by m

commerce secretary wilbur ross say this morning that ambassador robert lighthizer, the u.s. trade representative, and treasury secretary steve mnuchin are getting on the phone today again the lou he -- with liu he, top chinese negotiator. the goal is to hash things out. the two sides have been working on this mid-november target, which initially was linked to the apec summit in chile that was due to take place this weekend. that is where the two leaders were going to sign this thing. that is not taking place anymore. they are still searching for a signing venue. that's a lot that could go wrong here. we had false starts before. but right now, all signals are that we are in that end game. guy: is the biggest risk to a phase i deal what is happening in hong kong? a big that is definitely risk. the risk there is what happens in the u.s. congress as a response to that. there's a lot of senators on the republican side getting anxious about passing a bill that would allow the u.s. to review hong kong's special trade status. it is clear that a lot of trump's conservative base is fo

trade representative's robert lighthizer and steve mnuchin to return to china for more talks.tion has not been excepted yet. a new confrontation between the two countries could put the trade deal in jeopardy. president trump is expected to sign legislation supporting hong kong protesters. china calls the measures "a grave violation of international law." there's a sign that the u.s. labor market may be softer than previously thought. filing for unemployment benefits on excitedly held last week at the highest level since june. jobless claims were unchanged at 200 when he 7000. in india, premised are narendra the economy back on center stage. the indian government is selling its stake in the company's , andst shipping company has approved a proposal to cut its stakes below 51% in other companies. 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'm berdych a gupta. this is bloomberg -- i'm ritika gupta. this is bloomberg. guy: let's get more from the bloomberg new economy forum in beijing. b

robert lighthizer will come together with his two counterparts as lighthizer nears an agreement withmocrats on change to the usmca. back to the markets, stock market pointing to another higher open. among the standouts, target, best buy, tjx and walmart all surging on strong earnings results. but one area of the market not doing so hot as of late, bitc n bitcoin. down again this morning and trading at a six month low so let's bring in tom lee. good morning to you, tom let start with the retailers is it a sign the results that we've seen that the american consumer can still continue to power the markets towards these record highs >> yeah, the consumer has really been the stalwart for all of 2019 now we've got pretty decent jobs market, committee markets are good and that is helping about a third of the households. so i think that we are set up for a strong final finish and i think consumers are feeling good >> so as we say this is the markets at these levels, are there still places that you can find some kind of a relative value or is this one of those situations because there is such

robert lighthizer, the u.s.ntative, is getting on the phone today with liu he, the chinese vice premier and their top trade negotiator, to see where they are and try to take things further forward. we will wait and see there. the uncertainty now is when and where will the leaders meet, and that is important because that is going to set the deadline for these talks. trade negotiators are negotiators, and therefore, they like to negotiate up to the very end. they need that deadline. guy: talking of which, is there talk that the stronger economic data the u.s. is producing at the moment may encourage the president to take a slightly harder line? shawn: that's entirely possible. at the same time, this is kind of mixed data. we are seeing weak manufacturing data today, the ism down at 48.3, slightly lower than expected. that is and has been the main sector people have been focusing on in terms of trade war impact, in particular, how that sector is looking in swing states going into the election next year. so yes, he'

trade representative robert lighthizer has been negotiating effectively to force attorneys not just torease the ports of american soybeans, that's not aea meaningful change, he is pressurizingng china to stop the kind of systematic reading of markets in favor ofma chinese companies that are central to chinese industrial strategy. but the chinese joined the organization back it would thousand one in manyy ways i think it's at stake that we let them do that. it was t a mistake then enforce the wto rules on thehe chinese. you simply have the benefits free-trade that are not allowing free trade to china. it's also a plainville in china and if you are any u.s. company but you invest or sittingng the, chinese will almost always have the upper hand and if you don't believe me then ask any of the u.s. major companies that have tried to make an china whether you're talking about google orr uber. i think the presidents strategy that free-trade is very nervous and i think any market in the free-trade -- when it comes to china, what the president is doing is using the tariffs to try to change chin

we also know from wilbur ross and from our sources that ambassador robert lighthizer, the u.s. trade representative, and u.s. treasury secretary steven mnuchin are getting on the phone today with the top chinese trade negotiator to try and iron out more things. we are in this messy and game. endgame.essy we have been here before. we were here in may. this may still unravel. david: i heard we have not agreed to a deal on soybeans. you think if they were close to a deal they would've gotten that out of the way, at least. shawn: what we are seeing as they are talking about the difficult issues on the table. the fact those around the table now and are being wrestled with is usually a sign of the end game being afoot. on soybeans, it is not so much they are debating how much china is going to buy. it is debating the details of when china will buy and for how long. those are the details you will be ironing out to the end. spinning.h sides are are they spinning in the same direction? it seemed like beijing was spinning in one direction and washington was spinning in the other. shawn:

treasury secretary trade representative robert lighthizer. you may remember the to sides were close to an agreement. to get the aramco deal done, saudi arabia swallowing its pride. the initial bid price was set s's preferred price. minister boris johnson will offer business tax cuts as an olive branch for the destruction caused by brexit. johnson'sing conservatives well ahead of labor. 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. this is bloomberg. tom: thank you so much. that's get right to it. the interesting market, continued risk on. futures up five. dow futures up 65. on to the next screen with the vix up. closed extraordinary. safe haven drifts away with gold 1459 the ounce. equities give up some of the gains. what takes us above 2%? for morgan stanley, it is a rollback of the september tariffs. slipping inyields china after the pboc cut the repo. boris johnson said every conservative candidate has pledged to vote for his brexit deal if he wins

house trade adviser peter navarro used the same word constructive of a trade representative robert lighthizer'sosed doors negotiating. >> these talks continue to be constructive, but my lighthizer rule is all negotiations should be behind closed doors. we're on a glides path to a deal. >> navarro would not say if he thinks an agreement would happen this year. until then hundreds of billions of tariffs remain on chinese imports and u.s. products like agriculture. u.s. farmers are the collateral damage in the trade war. president trump vowed another round of cash for u.s. farmers before thanksgiving. a second round of bailout checks for farmers expected to be cut next week. compliments, trump says, of china tariffs. trump has falsely said china and its tariffs fund the farmer bailout and in reality american business and consumers pay for the tariffs. there's been a $12 billion to compensate farmers for the lower prices and lost sales because of the trade war. this round of checks will be $16 billion. this is not the grand course correction the president promised at the start of the trade war. the

president trump sounding optimistic on china trade negotiation asthma new to in trade representative robert lighthizerase one protocol when chinese vice premier -- with chinese negotiators upbeat, a consensus has been reached, here is lou dobbs, host of lou dobbs at 7:0. david: could we see a china deal signed before years end? >> i'm told we could,. >> should we? >> is a high probability but i'm very skeptical. it has not come together and had plenty of opportunity to come together, we had to renege and may and then we saw this thing fall apart in october and then late november, i remain skeptical. david: it's an honor to have you on the show, we have had reports almost the last 20 months, every single month it seems like there is a deal imminent. and president g reneged on a deal, what has to be done for a deal to be signed because the u.s. has been negotiating with china backing out and were very far apart and becoming or entrenched in what they believe in. >> the president has to be commenced that there will be an enforcement mechanism that is convincing and absolutely a guarantee can be. they are

trade representative robert lighthizer who needs to put on paper pretty we are within range of substantiallyagreement for mark is worker, now we need to see progress in writing from the trade representatives for final review. today top white house officials were back before the cameras criticizing posey for what they see as an action. the white house is arguing that pelosi is letting impeachment proceedings get in the way of important policy matters. >> i think the president is going about the applause the impeachment is an important one because she promised, she's not a woman of her word she promised they would have a vote on usmca by the end of october. were way past the end of october, this factor was impeachment we read the impeachment focus not going away anytime soon either as a house judiciary chairman gerri nadler announcing this afternoon and will hold the first impeachment hearing and that committee next wednesday. alive look at the white house, i can hear marine one going behind me and we expect the president to depart at any moment in a rally tonight, thanksgiving break, lots of