as we have been reporting, the us commerce secretary is in beijing this week. on monday she met her chinese counterpart, describing the discussions as open and pragmatic. the countries have pledged to hold regular meetings between business representatives, with a focus on commercial issues. representatives will also meet to exchange information on export controls, and the first meeting is today. our business reporter has this update. the following report has some flashing images. gina raimondo�*s visit is the latest in a series of top american diplomats to have visited china recently, including janet yellen, antony blinken and the us climate envoyjohn kerry. all in the last three months. despite all these meetings, relations between the world's two largest economies are at their most tense in years. last august the us passed the chips act, specifically aimed at growing domestic chip making business and blocking china's industry. beijing responded in turn including restricting export of chip—making materials to the usand it all comes in the same week as export co

as we have been reporting, the us commerce secretary is in beijing this week and on monday she met herounterpart, describing the discussions as open and pragmatic. the countries have pledged to hold regular meetings between business representatives with a focus on commercial issues. representatives will also meet to exchange information on export controls. the first meeting is today. our business reporter katie silva has this update. the visit is the latest in a series of top american diplomats visiting china. that includes antony blinken and john kerry. all in the last three months. despite all of these meetings, relations between the two economies are at their most tense in years. last august, the us passed the chipz act, specifically aimed at growing their business and blocking china's industry. they zhing have responded by restricting exports of two materials to the us, key ingredients in making chips, and it all comes in a same weight that export controls kick in in the netherlands, preventing by the netherlands, preventing by the netherlands, preventing motherwell for mac biggest

, not a trade representative from the us visiting china? i commercetive from the us visiting china?— from the us visiting china? i think it's a great — from the us visiting china? i think it's a great question. _ from the us visiting china? i think it's a great question. i _ from the us visiting china? i think it's a great question. i think - it's a great question. i think you're going to need to see more official visits. you're going to need to see more officialvisits. it you're going to need to see more official visits. it used to be a regular feature of us—china relations. we had ongoing dialogue regularly scheduled. those were disrupted. getting back to the big above that rhythm. it is important to get high—level officials, and the commerce secretary runs many of those programmes around export controls, semi conductors, the roll—out of many of the policies related to the ira bill. if the commerce secretary that has the portfolios for more of the concerns that china has at this moment. deborah elms from the asian trade centre, thank you so much for

the commerce secretary did talk to members of the press on route that high-speed train. eunice yoon is on the train and joins us with more. hey, eunice. >> hey, guys. the commerce secretary, as you had said, is on this train. her delegation is behind me. she told us reporters within the past hour that she believed that the u.s. and china are at a moment, and she hoped that this becomes a moment of action. she credited the diplomatic flurry of activity by the biden administration since mid june with getting to this point where she did meet with the chinese premier, as you mentioned, the vice premier who handles affairs at the commerce ministry as well as the tourism minister, all speaking for several hours over these past two days to get to what she described as good deliverables for the u.s. business community. one is what i mentioned before, the working group she said would address specific commercial interests and meet twice a year, and export controls information exchange which already met today and is a way to help from her perspective, have the chinese become more c

traded delegations, trade promotion by the commerce department helping to promote the sale of u.s.roduced goods in things that do not endanger u.s. national security, cosmetics being one. different consumer products. this is an important part of the commerce secretary traditional role. we saw gary locke, a former commerce secretary go to china and beijing as ambassador during the obama administration. this is something i know secretary raimondo has been looking to do for a couple years now. finally this week she is getting to set foot in beijing and shanghai and promote the interest of american companies in china. where there any major deliverables or takeaways from the trip? eric: absolutely. some people have focused on the fact that there were perhaps not any major announcements in terms of, you know, new giant sweeping agreements are things of that nature. but just to the fact of the commerce secretary being able to go to china and speak frankly with chinese authorities about issues such as export controls, such as the tariffs the u.s. has on $300 billion in annual chinese expor

the morning off. big show ahead for us. commerceecretary gina raimondo later with us later this hour, her first live interview since returning from the high-profile trip to china. we'll get the read with one company big exposure, jennifer rumsey joins us at post nine take a look at how stocks are fairing in the early action. the dow is higher by 113 points. you can thank salesforce for that move. it certainly is the biggest contributor. the s&p 500 up a third of 1% on this final trading day of august and the nasdaq rebounding up 0.5% real estate, health care, strengthen, tech, industries, financials and materials. >> 30 minutes into the session here are three movers. first salesforce, fueling the dow higher it top gainer in the s&p after beating on the top and bottom line and raising their guidance we're going to break down the numbers later this hour. dollar general slumping after slashing its forecast for the second quarter in a requite softer sales trend and increase in inventory shrink and watch the banks, ubs hitting an all-tim

and i know the commerce department is upbeat about how today went, the first day in beijing. secretary raimondo came after five years of commerce not visiting china and really feels like she wants to promote u.s. business interests here. i think so it's notable there was not as much discussion about an area of much more sensitivity in trade, the u.s.'s semiconductor exports. so, there's much tension to be had. she acknowledged at a high level it's a very tense relationship, but i think everyone is feeling optimistic about how today went. >> are you getting the sense they're getting to the sweet spot, that is, dealing with trade issues and national security issues? really it boils down to chips, i suppose. are you sensing that dialogue is getting more robust? >> well, i think what the secretary would like is everyone to just separate those she wants to promote u.s. business, grow trade, but around issues that she says don't affect national security we saw demonstration of beauty products today as an example of the kind of trade that the u.s. government would like to promote. co

the commerce department's bureau of industry is security announced the removal of $27.00 chinese entities from us and verified letters which restricts access to exports from the us, the vitamin ministries. it also confirmed it is seeking a 6 month extension to the 1979 science and technology agreement i had of it's august 27th. does not. the landmark deal was 1st made with washington invasion, normalize diplomatic ties more than 40 years ago. and it has been extended every 5 years ever since. the fact that the us is only asking for 6 months this time, will no doubt send a message to china as a spokesperson from the state department confirmed these shots to um, 6 month extension will keep the agreements. and for us, why we seek a for a te, tell him to take negotiations to advance and strengthen the terms of the science and technology agreements. it does not come to the united states, so long go to an extension. but while the vitamin ministration may be taking a few small steps to make it look like it is trying to improve ties with china, now that doesn't undo the new side of export control

improve ties with china, now that doesn't undo the new side of export controls put in place by the commerce department. last october, which band chinese companies from buying advanced chips and ship making equipment without an approved license. those rules were just the latest space and the ongoing us tech we're on china. and as is often the case, the us didn't just impose these rules for its companies. it also threatened it's almost into submission, what countries like japan and another, let's joining it. but some experts argue that washington's policies will end up hurting the us in the long term. the more do us sanctions, china, the heart of china, will try to make rapid technological progress. china will provide more national support for the goal. done april pose a crisis to south korea, even china is abundant, talent, enroll materials. china has not stated silent. and last month, beijing imposed if you export controls of its own on gallium, in germanium else 2 raw materials that are critical to the chip making industry. and just so happened that china is both the world's largest produc

this trip underway by the u.s. commerceboth beijing and shanghai is the latest of top biden administration officials as the u.s. seeks to stabilize a u.s. china relationship because tensions flared over trade, over targeted sanctions. over access to sensitive technology like chips. over raids conducted by over consultancy firms in china. we heard from the chinese commerce department it commended the u.s. department to lift expert control measures on 27 chinese companies. china saying this is the kind of gesture that paves the way to normal trade. rosemary. >> christy, do china's economic troubles give the u.s. commerce secretary perhaps a little leverage in beijing >> i pointed out that the timing is good for secretary raimondo giving the deep economic troubles that china is facing now. the export growth slumping, ongoing and deepening property crisis, youth unemployment is so high in the country. these are issues that beijing has been addressing in terms of cutting or lowering interest rates, offering some sort of stimulus

but instead, we heard from the commerce minister. throughout the day, we saw chinese president xi jinping later on at the leaders summit. earlier we saw him meeting with south african president cyril ramaphosa, talking about the importance of that relationship. a lot of people saying this is potentially a missed opportunity for him to tout his economy and helped the strength that they believe -- and tout strength to believe the economy has at this point. we did instead hear from the commerce minister during a business meeting. lizzy: thanks to jennifer zabasajja. closer to home we will get the euro area deposit pmi survey later today and that should give us more insight into the impact of monetary tightening in the area. maria, let me bring you in. what do economists expect on this data? maria: we went from china and ended up here. when you look at the pmi it is a good way to get a sense of where things are. there are two themes. do we get the continuation of a real weakness that we saw play out in july with the numbers that we get to

think it depends on your definition of concrete for the first day of her meetings here in china, the commerce secretary had said that the overwhelming message that she has been receiving from the american business community is that there needs to be more channels of communication between the u.s. and china so she said that after four hours of discussion with her chinese counterpart, she was ready to announce different ways in which the u.s. and china would engage so one was a commercial issues working group. a second is an export control enforcement information exchange, which would be more of a dialogue she said this is going to be the first held tuesday in beijing. technical discussions on protecting i.p. and trade secrets, and an agreement to meet at the secretary and ministerial level at least once a year since she's arrived, her message has largely been that the u.s. and china could continue to have a very strong trading relationship despite the tensions and despite her department's export controls, before she arrived, she had also made a point to reporters that the export controls reall

the commerce of secretary gena, right mando, is currently on a full day trip to beijing talk more about quote, healthy competition. that's a shop change of direction from just last month, when all the rhetoric was about stretch and strategic competition. i want to be clear with you around what my goal is for the visit, which is to promote a healthy competition. and by that i mean the competition on a level playing field. there's a lot of benefit to doing business with china, where we can, having said that, we have to protect what we must and be eyes wide open about the threats and strategic competition. but we've been out of the, by the ministrations, apparently making steps to make it look like it's improving. tie is, and it's friendship with china overall. it's all, it is rachel blevins. she softly dicks it all up just days before raimondo laughed . surveys yang. the commerce department's bureau of industry is security announced the removal of $27.00 chinese entities from us and verified letters which restricts access to exports from the us, the vitamin ministries. it also confirmed i

. >>> coming up, the commerce secretary wrapping up her trip to shanghai and beijing. we have the headlines from that interview. but first, crowd strike having its best year since 2020. and chewy with its worst month for a year. that is next. "the exchange" is back after this. people are excited about what ai will do for them. we're excited about what ai will do for business. introducing watsonx a platform designed to multiply output by tailoring ai to your needs. when you watsonx your business, you can build ai to help coders code faster, customer service respond quicker, and hr handle repetitive tasks in less time. let's create ai that transforms business with watsonx. ibm. let's create. icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from goog

the commerce secretary do you know? right. mando is currently on a 4 day trip to beijing talking about quote, healthy competition. but that is a shop change of direction from just last month. the old, the rhetoric was about threat son, strategic competition. i want to be clear with you around what my goal is for the visit, which is to promote a healthy competition. and by that i mean the competition on a level playing field. there's a lot of benefit to doing business with china, where we can, having said that, we have to protect what we must and be eyes wide open about the threats and strategic competition. however, now the by the administration is taking steps to make it seem perhaps it's trying to improve ties and it's friendship with china. let's pick out some do it on this. open out to watch these. rachel black, the days before raimondo left her amazing, the commerce department's bureau of industry and security announced the removal of 27 chinese entities from us on verify letters which restricts access to exports fr

it has been a landmark week when you have the commerce secretary visiting china, but when you look at headlines, it is kind of a lot of what we have already expected, what has already been telegraphed. how sensitive is the relationship now between the u.s. and china, particularly on the heels of a flurry of moves from the chinese government to prop up their own economy? >> look, i think both sides are keenly aware of how important the relationship is and are very focused on maintaining it. as you rightly point out, the commerce secretary, undersecretary has not been to china for five or six years so they are resuming what had taken place in the past. and i think that is important and productive for both sides. sonali: when you think about not just the commerce secretary's own trip to china, you also think about the trip to president xi will be making to moscow as well. how sensitive is the relationship between china and russia and the u.s. and china and the u.s. and russia at this point in time? it is quite the love triangle if you take a look. stefan: it is, though the commercial and

the u.s. commerce secretary is wrapping up a visit to china. the fourth biden administration official to visit the country in three months. it is part of an effort to stabilize ties between beijing and washington. they have sparred over taiwan, trade, and intellectual property. let's take a closer look at the biden administration's diplomatic push and the conflicts driving a wedge between these countries. first, u.s. commerce secretary visit. e met with china's premier on tuesday. dialogue with needed to find common ground and increase pop -- possible cooperation. the commerce secretary underlined the u.s. is not trying to stifle china's economy. >> the relationship between the united states and china is one of the most significant in the world. over $700 billion in trade. i concur with you that it is profoundly important that we have a stable economic relationship, to the benefit of both of our countries. >> she added the u.s. does not want to suffer the links between the two economies, especially with hundreds of billions of dollars at stake

and the commerce department will take advice from business as to as to the regulation. so these regulations may change. and finally, it should be noted very about us as well. the minimal investment in china, right? that if i just have a 1010 year later on the fact that try to itself has plenty of competing through investments in industry. there. plenty of other countries who want to invest in these countries certainly use right now. it seems reasonable symbolic them having a major impact on the nurturing of chinese chinese industries. shepherd has the older 0 washington to what i've seen a you report stuff from beijing on china is reaction time. it says it's gravely concerned with the us or the binding. you investment into today's technology. comments from industry has released a statement saying that this will disrupt the supply chains and it resides the right to take counselors is it also says that it hope see us will respect a mock at the quantity instead of all sufficiently hindering trades under the guise of the risk a now this fall is a statement by chinese embass

so that was something of a tough war underway, where we understand, between the commerce department, the treasury department on one side of the pen to get into the national security council on the all the former one thing less stringent regulations to allow us businesses to invest in china, i make lots of money, the pens and get a national security council wondering more stringent regulations and the m, they've decided on these 3 categories, quantum computing, artificial intelligence related to the military. i'm the advanced study, conduct industry and the white as pointing out there running some restrictions on the export of some of these technologies to try and have a what that trying to do now is to prevent, in the words the immunization of trying to escape ability to become masters in these, in these areas. there are several coffee at the new investments. this is a, is there any, any effect new investments that the china old investments wouldn't be affected? plus that's about going to be a months long process where the white house will take advice on the treasury, and the commerce

the director of the hudson institute china center talks about the visit to china from the commerce administrator. the economic issues that u.s. faces with china. join in the conversation who at 7:00 eastern thursday morning, on c-span, c-span now or online at c-span.org. >> listening to programs on c-span three c-span radio just got easier. tell your smart speaker play c-span radio, and listen to washington journal daily at 7:00 a.m. eastern, important congressional hearings and other public affairs events throughout the day, and weekdays at 5:00 p.m. and nine clock p.m. eastern, catch washington today for a fast-paced report on the stories of the day. listen to c-span any time, tell your smart speaker, play c-span radio. c-span, powered by cable.

and the commerce department will take advice from business as to as to the regulation. so these regulations may change. and finally, it should be noted very about us as well. the minimal investment in china, right? that if i just have a 1010 year later on the fact that try to itself has plenty of competing through investments in industry. there. plenty of other countries who want to invest in these countries certainly use right now. it seems reasonable symbolic them having a major impact on the nurturing of chinese chinese industries. shepard has the outer 0 washington to turn into new share last ditch effort ser, underway to resolve the crisis following a cool military leaders have met with 2 envoys in the capital near may. now this comes ahead of an emergency summit of west africa's regional block echo off on thursday. the block is calling for the immediate reinstatement of ousted president my have a bedroom, previous request by the you. the united nations ad echo was to meet the crew. leaders were rejected. well i had address was, has more of a boucher in neighboring

we have an expert, rachel tipograph, founder and ceo of the platform -- e-commerce platform mikmak. e you surprised by the resilient -- resilience of the u.s. consumer? >> i am not because americans love to spend and don't like to save and what we are seeing is exactly that. to quote one of my dear friends, elite -- a lead analyst at forrester, what we are seeing in the market is the consumers still have half $1 trillion from the pandemic to spend through and they are doing that despite the brands and retailers raising prices so what we are seeing an 80's earnings -- seeing in the earnings, retails -- retailers are having an credit -- incredible margins? caroline: they look nervous looking forward. what are e-commerce pay are seeing and how much are we spending our wallet online or experientially? >> target is nervous for all the right reasons and what we are seeing is consumers are spending on essentials. they are spending on groceries, alcohol, personal care, pet care, beauty. they are not spending on nonessentials so fashion, consumer electronics. that discretionary spend is going

see on a don on sundays by all the commerce of the guilt. then you're going to neil, we are a 150 artisans and we do most of all work on sundays, things creating and fixing all the sculptures here. no less. it's good for us to send in the punch in the stone i carve is difficult to work with students, forrest quality, and it has to be trucked in from other states since the local source of query stone has run out. the number of carvers has also dwindled. from 600 a decade ago to half of that today. but they have whole, the tradition and their profession will survive. be as a notice that the, the, i think that the work and the corey is never going to end up there. that does many people like these sculptures looked at that. it's never going away. there's very little of work here, but it's there. i won't get up in the traditional art has no work carving out of place in the modern world. it's amazing. well, they can do, isn't it, that's all from me, the business name for this time. but if you want a bit more from us, you can always head over to d,

future when amazon is essentially the only winner in e-commerce, you know, whether that's 80%, 90% or 100% market share or some very number unless walmart acted in a big way. and you're right, we i you know, i in the book with without giving away too much yet saying that a we might not be in a great position as a society if if if there's only one. i think we know that but even these two goliath is going head to head. competition is probably not enough to bring about all the positive changes that we'd hope would come with over time and. so maybe maybe we'll be talking about another company 20 years from now that does things better with respect to labor relations, consumer attention, and also environmental impact. right. and i'm also curious about the timing of the book. you know, this rivalry competition has been going on for years. was there any particular you decided to publish this now or any reason why the viewers have to care about now? sure. so i think there's a couple of reasons. i started working on the book in a proposal for the book actually in 201

now the chinese commerce minutes, the one went to welcome gina and i'm on the. she said it was profoundly important for the 2 largest economies of a stable relationship. tension has risen over the trends of china going to war in taiwan and us restrictions on computer chip expos. katrina, you has moved from basing to both sides. we're hoping that dina raimondo is visit, will stabilize what has been and increasingly tense relationship ever growing list of disagreements. she said for 4 days and the only has she met with account of one one's house. she's all seduce me. the other chinese officials, as well as american business leaders kit, engaging now raymundo has said that during her discussions with chinese officials, issues of national security of limits. these are, for example sensitive technology such as semi conduct is, however, message to the aging is that there are many other areas of trade which can be expanded, for example, health. and you see, she's also going to want to go home with some wins for the american community. for example, the company flowing w

the commerce secretary. is there another line she has to walk? she? >> i don't think the biden administration is at all poised to give away too much, joe. first of all, as raimondo said in beijing on the ground where eunice reported, national security matters are off limits and not negotiable. she said it before. she has been pretty clear. there are areas where the u.s. and china should be able to trade and trade robustly and there are just a few areas where national security really trumps the ability to engage commercially. those concerns are real. the pushback from members of congress and the other pundits throughout washington who are worried about the extrtrajector china has continued. we are certainly hearing that from mike gallagher, the head of the china select economy and mike mccall and others. >> we had china hawks on the show who have the u.s. companies should pull back completely from china with the idea that taiwan is not going to be a 2050 event. it could be before. i've heard next year. that may be unlikely. before 2030. if that wer

and another figure, which i will name, is the belarusian chamber of commerce and industry. u give certificates of origin. these are the certificates that businesses use to export their goods. so, if, before 21-21, uh, well, certificates were dumped in about 150 countries in the twenty-second year , a slight decrease in about 140 countries, then in uh, only for the first half of the year. for another year, we issue loans to more than 130 countries of the world, so, uh, these figures also show that we have managed to isolate the belarusian enterprises and the belarusian economy from world trade and of the global economy, high-quality goods are always in demand, interaction with the eurasian economic commission is expanding, as well as a network of representatives abroad, a special emphasis is placed on the entry of our manufacturers into international electronic trading platforms. anton malyuta is a sphere of interests. now we will break for a short advertisement, then we will talk about which foreign banknotes will not be accepted at the bank, stay with us. belarus

butterflies, don moss said they do not sell things although that they get on stream, we will see if the commercesses the rubicon. caroline: executives will be joining too, meanwhile, coming up, let us talk paypal, alex chris replaced as the ceo, we will talk about it. what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. wow, you get to watch all your favorite stuff. it's to die for. and it's all right here. streaming was never this easy, you know. this is the way. you really went all out didn't you? um, it's called com

overlook anybody in particular but i will say that in particular i want to thank the leaders of the commerceartment and the executive secretary and undersecretary, we have been working a lot together over the last couple of years and they are extraordinary, traveling through the country and really inspiring so much of the work we have done as an administration. thank you both for all that you do. thank you. to the small business owners and entrepreneurs of america, including those here today, you are the back own of our communities and of our economy and you are a part of the pride of our nation. president biden and i came into office with a plan to grow and strengthen america's economy. we knew that for far too long our economy has not been working for working people. entire communities have been left out and left behind. trickle-down economics benefited big corporations and the wealthiest of americans, but not a lot of regular folks. when president biden and i took office, we decided to invest in the working people of america. to create millions of jobs. to rebuild american manufacturing.

she was meeting with the chinese commerce minister. the first of three-day meetings. the $700 billion of trade and stable ties are profoundly important. this was before arriving in china where she had already told reporters that what she described as narrow and targeted u.s. export controls impact 1% of trade and areas like chinese tourism could actually generate about $30 billion for the u.s. economy as well as 50,000 u.s. jobs if it returns to pre-pandemic levels. the chinese commerce minister for his part said today that his country is ready to work to foster a more favorable policy environment, yet despite the pleasa pleasantries, it doesn't appear they will tackle the core policies that lead to the conflict. the chinese state media point out the key concern is the u.s. restrictions on the american investment in advanced chinese i.t. raimondo addressed that with the min minister. there is no room to compromise or negotiate on american security. >> some of the talks wrapped up a short time ago, eunice. where are you right now and what is the agenda for the rest of

get kicked out of the commerce? >> you are going to love chapter six. [laughter] entirely about the money order system. so the money order system to get some background started during the civil war and the basic idea was that soldiers, union soldiers serving on the front lines needed a way to send holder wages to family members on the home front without sending physical money through the mail i that might get lost r stolen. for the idea behind it was you would go to your local post office and that you would say here's ten dollars, fill out a form. the postmaster within step the form, the mail the form itself to whoever he wanted to do and whoever you were sending it to ritual and they would get ten dollars for that postmaster. it became almost like a small scale tracking system. this developed in the 1860s and started to spread over the following decades. this actually was phenomenally important especially in the western united states and to some degree himself asla well because the banking system at the time there w

the u.s. commerce secretary says trade can stabilize relations with china but national security remains a redline. shery: take a look at u.s. futures. we are seeing stocks and bonds rising. jackson hole is heading for more eco-data, not to mention the price index. we're trying to figure out how policymakers blend in. we saw optimism today with chinese adr. the dollar was pretty flat. wti popped above it's the summer low in trading. annabelle: i saw the volatility tells us perhaps a sigh of relief and it's time to relax. futures are mostly pointing higher. we are watching the japanese yen given the yield yet. you mentioned the moves in china and that is the big focus yesterday. it was about cuts on stock purchases, slowing ipo processes to try and boost market sentiment. take a look at the moves yesterday, up at the most 5.5%. put that in context, this is a rare move. we have only seen it to other times since 2004. to pair those gains throughout the session, our colleagues are saying this does indicate