the uk exports half its goods to the eu. vernment is hunting around for a solution and is under political pressure to choose a new customs arrangements. why with just six months to go, are the government still considering options that we all know are not feasible? we will be leaving the customs union. we want to ensure we can have an independent trade policy. we also want to make sure that we deliver, are committed to delivering on our commitment of no hard border between northern ireland and ireland. and ensuring we have as frictionless trade as possible with the european union. there are a number of ways in which that can be delivered. there certainly are. one idea being discussed is a plan for the uk to collect tariffs on the eu's behalf at airports and ports. known as the customs partnership, it has been met with scorn by brexiteers in theresa may's own party. the customs partnership does not in the end meet the stated objectives of the government. it doesn't meet the commitments made in the conservative party manifesto.

brent: very, very briefly, we know the eu wants a permanent exemption from you.s. tariffs on steel and aluminum. is it going to get that? bernd: the u.s. is also putting an offer on the table. they say that if trump wants to negotiate on trade -- nontariff blocking of trade, we can do that. but first he has to give an exemption, and that we will to the negotiating table and it is unknown if trump would do that. brent: bernd, thank you very much. helen is here to talk about the eu's plans to talk about the death to -- ste the potential tide of businessesm. helen: the eu says it will take steps to protect european countries doing business in iran from the impact of the u.s. introducing that blocking statute, which means that the eu essentially cod make it illegal for european companies to comply with the u.s. sanctions against iran. it is only the second time the eu has threatened to use the so-called blocking statute. the first back in 1996 as a response to u.s. sanctions in cuba. there was never introduced. now as a slew of global firms say they are pulling out of i

so, how should the eu respond? pushing the two countries away. but ignoring their behaviour contravenes everything that the union represents. its strongest card is to suspend poland's voting rights in eu summits but it needs hungary to see that through and as an ally of poland, hungary has already promised a veto. after his landslide, viktor orban was emboldened to take his message to the eu, telling it to give up its "delusional nightmares" of a the united states of europe and to change its thinking on migration. so far, the eu's disciplinary measures have fallen on deaf ears. it may now choose to withhold funding from member states which don't keep to the rules. in poland, eu money makes up 61% of infrastructure spending and 55% in hungary. would this curb the two countries? and set an example to potential future member states? or could it cement the east—west rift rocking the very foundations on which the eu was built? this afternoon i sat down with krzysztof szczerski, the president of poland's chief of staff. i

the eu is threatening to few hours.n the next you know the eu had already threatened to -- to retaliatebillion euros of american motorcycles.luding we will see this italian nation that retaliation and what it means. as you see, the mood is not very good here. after this announcement. europe, a how quickly for example, and that is just one part of this, could actually game --hat when the retaliating can go into effect? him -- >> we put a date on the mergers. june 20. we will see whether the retaliation measures are taking effect earlier. it could be in the next few hours. we will have to wait to see where these mergers rp are obviously, from the eu trade sheets, the eu has been lobbying the past few days and the past couple of months trying to convince our u.s. counterparts to change donald trump's mind. obviously, the final decision relies on donald trump and the you -- the u.s. president. we will have to wait and see right now what the response is from the eu. but the director did one me that the domino effect this could cause on the trade system. now, a breaking news response from mex

the trading relationship between the eu and the u.k. is really what is at the heart and soul of this debate and what it means. the problem for theresa may has all along been, what do you do about the border between ireland and northern ireland? once you brexit, you have ireland that will remain a member of the eu and you have northern ireland, which is now not going to be in the eu, and under the treaties of the eu, you must have a border that judges goods moving across eu and non-eu border. you have to put on tariffs, of persons movement and services, and more importantly for the u.k. come all the regulatory issues that go along with the movement of a good three of the question becomes, how do you put a border between ireland and northern ireland without completely upsetting the peace accords that ate about after the result the end of the troubles? this is the heart of the soul of the problem. 310 miles of border between northern ireland and ireland, with more than 400 crossing points, and nobody has been able to figure out how to get

i didn't vote for farage, i voted to leave the eu. gompertz, bbc news. 5:1. 3 5313 153???13% fiif2%f t‘1%1£ and since then scientists have been trying to make sense of sights they'd never expected. everyone thought that somewhere so cold would be frozen solid, but amazingly there are signs of movement at the surface. and the latest discovery is about the texture of the landscape. these are fields of dunes that look surprisingly like the ones we have on earth. this is important from a scientific perspective because it gives us new insights about pluto but it's also really exciting just to be able to look at this world and recognise that it's notjust a frozen icy blob in the outer reaches of the solar system. but really we are seeing a dynamic world still changing, still forming today. so a major surprise is that pluto was much more active than previously thought. its atmosphere is so incredibly thin compared to earth and its winds are so weak that features like dunes shouldn't be possible. and with a temperature of —230 you'd think eve

this idea that the uk will stick to eu rules and collect ta riffs the uk will stick to eu rules and collectpean union is clearly deficient. why would we go through all the pain of leaving the european union in an attempt to have new trading standards different from the eu, or just stick with what we have? are we going to lower our food standards so we can facilitate trade with other countries? that would form part of a trade deal. we are told by the environment secretary that we will have better food standards than the eu. we want to keep trading with the eu. we want to keep trading with the eu and insist on that anyway. are we going to have different sets of standards? we could and up with that. the government seems to insist that. the government seems to insist that we will stay in some kind of customs arrangement for a longer than the transition period agreed until the end of 2020. and that technology will appear which will allow a facilitation of this frictionless trade the government says it wants. it is confusing and it is still worryingly hypothetical that nearly two years after the

the eu is particularly unhappy about this. t. is starting a trade war? it does seem like that and it will be limited to start with and the eu will impose ta riffs start with and the eu will impose tariffs that impose about the same economic damage on the us as the us ta riffs economic damage on the us as the us tariffs on the eu and it will target it, so it will basically go for politically sensitive things like us motorbike manufacturers because they know certain politicians they fiaamugnrmsfi. 1314255 is! 1.4.5. fiaaemuegrgiuse u'lele lie! is! 133 el l msg‘eei‘f‘fie ’lr' ""’ ' ’ gm 7 7 does sagging“; “‘mmf ' f put us in this impasse, sell like se of like §--- --- not the major to the us, but that's not the major influence. the major influences that the us market is virtually cut off so all of the steel made in the uk and the eu or canada is sloshing around in the world market trying to find somewhere to go, so that forces down prices. that's good for lots of industries but bad for the uk and european steel industry because they w

the other eu 27 countries have called for partnership on security, but but then us out of the galileoo that. eu officials say the uk plan would turn galileo from an eu programme into a joint uk—eu one, possibly handing us the ability to switch off the signal, but britain is not being entirely shut out. in my view, the 27 member states will discuss this issue and they will instruct the commission to offer more flexibility on this particular issue, because security cooperation between the european union and the united kingdom is an absolutely essential issue. so, some hope for britain, which may still have a role in your‘s answer to america's gps system. so send the satellites in space, with help from ground stations. it tells you exactly where you are on the earth at any particular time. you can use gps but you can't rely on it, because it's under the control of the american. that's fine, but if you're really going to use it for many, many applications that are highly sensitive, that are really important to europe or to our own nation, you have to have a level of control of your own. a

relations with britain and the eu. live coverage just getting underway here on c-span two. >> i will be presiding over today's discussion. we're lucky enough to have joining with us via videoconference, matthew goodwin from the uk. to my right, jennifer hillman from georgetown university law center and ed luce from "the financial times." as i was thinking about this today, coming in i was thinking it is nice for once with everything going on in the united states to focus on someone else's internal problems for a change. as we think about it, that in many ways we have, we're we're 330 days away from exit day. yet we have absolutely no idea how we're getting from point a to point b. i always like to tell people in washington, point a to point b is never a straight line and that definitely appears to be the case in the uk. what i think we wanted to focus on today is explore those internal "brexit" politics because while, at the council we're interested in the foreign policy dynamics and where this is all going after "brexi

where the eu is going to be able to use a lot of leverage relating to markets, the prospect of the eu membership is very powerful incentives for encouraging changes within those states. that said i think uk influence on european security is going to remain very significant. i think the uk will remain of global power. given this position within nato, as was one of most capable willing powers that unlikely to dissipate in the major way. it will become harder for the uk translate that commitment into multilateral political influence. it's going to have to work a lot harder to ensure it's not an afterthought when it comes to the u.s. and eu conversations. macron has been very aggressive rightly so very opportunistic trying to build the void with the us. talking about their special relationship which carries particular resonance in the uk. so i think the two broad points i i would make is the uk will remain a key player obviously but there are going to be specific areas where it's going to have less influence. we end up in the heart of brexit scenario which i suggested looking at increasin

and the eu after brexit. n may's cabinet, some of them would like a close relationship with the eu, and under the side those that want a clean break so they can get on and do trade deals with the rest of the world, that is the heart of the debate. the inner cabinet, the inner brexit cabinet is meeting tomorrow. we might see afterwards how that plays out. in that cabinet, the balance has shifted in the last couple days to a harder brexit because we have a new home secretary. the previous one was very pro-remain. that has been replaced by sajid javid who has been replaced by a pro-brexita very attitude. david: one of the things that was promised was to do all of these wonderful trade deals outside the eu. they cannot do that if they are totally integrated. what does theresa may want? >> what theresa may wants is not entirely clear. we know that she is in the role she is still in because so far she has been able to keep the two factions broadly happy. part of that is because she has not declared clearly what the

because they could leave the eu? uro is on the table. but i can completely rule out that should the economy turned really bad in the future, then probably the two parties will blame the eurozone for the problems, and they might start even calling for italy to leave the currency in five to ten years. there are two missing pieces to this. one is berlusconi. does he still have an influence in italian politics? the other is the missing character, they haven't chosen a prime minister? yes, they haven't chosen a prime minister. that i think shows how difficult this relationship really is. it has been weeks, months, since the election results. and still we are not there. we have this coalition of the contract that didn't exist before in italian politics. so, it's a very difficult process. it may not end well. we might not even see a government, or a long—lasting government. i think what you mentioned about the fact, the risk of the proposals to exit the euro could come back of the economic situation gets worse, that is an im

the uk exports half its goods to the eu. nt is hunting around for a solution and is under political pressure to choose a new customs arrangement. why, withjust six months to go before a draft brexit deal is signed off, are the government still considering options that we all know are not feasible? we will be leaving the customs union, we want to ensure we can have an independent trade policy. we also want to ensure that we deliver, we are committed to delivering on our commitment of no hard border between northern ireland and ireland, and ensuring we have as frictionless trade as possible with the european union. there are a number of ways in which that can be delivered. there certainly are. one idea being discussed is a plan for the uk to collect tariffs on the eu's behalf at airports and ports. known as the customs partnership, it has been met with scorn by brexiteers in theresa may's own party. the customs partnership does not in the end meet the stated objectives of the government. it doesn't meet the commitments made in

what about trade from switzerland into the eu? what about the trade from norway into the eu. d canadian border? there are 20 precedents for it working well. they should just get on with it. —— there are plenty of precedents. we should get on with it but there is division on it. borisjohnson is calling theresa may's favoured solution crazy last week. you have a serious minister, the foreign secretary, using language like that publicly. they are in complete disarray as a cabinet. the sooner this is dumped, the better. they are going to dump it, but what will they put in its place? a technical solution. does the eu like the technical solution? they've rejected it all so far. they are not playing games because they are not playing games because they are negotiating. they have set about the uk's two favoured options, they have rejected them both because they are wanting to keep ireland in the customs union. but this is all up for negotiation and i am optimistic stop our most economists optimists? it is the dismal scientists, but of course. this is all a horrible mess. and we haven'

the eu is preparing to retaliate on imports from america. t of the european commission, jean—claude juncker, has described the us announcement today as "unjustified". this is a bad day for the world trade. the european union cannot react to that without any kind of reaction. so we will immediately introduce a settlement dispute on the wto, to be announced in the coming hours, counterbalancing measures. what they can do, we are able to do exactly the same. it's totally unacceptable that a country is imposing unilateral measures when it comes to world trade. applause. the move — revealed by us commerce secretary wilbur ross — will affect several key us allies and nato members in europe. mexico and the eu have both said they will impose counter measures. our correspondent kim gittleson is in new york. does it look like we are heading for a trade war? you know, as with anything with the trump administration, it kind of goes back and forth. as early as last week we saw the us treasury secretary steven mnuchin say they were calling a halt to the tr

sweden is in the eu, here in blue, norway isn't. but not the customs union. now, this is one of the simplest customs borders to cross in the world and lorries only ever have to stop once. at the main border crossing, norwegian customs say they deal with about 1300 lorries every day, which is less than a tenth of the number that pass through dover. the average time from when a lorry arrives to when it leaves here is about 20 minutes. impressive, but certainly not entirely frictionless. next, we go south to the border between turkey and bulgaria. again, bulgaria is in the eu and turkey isn't, but turkey does have a customs union with the eu for most manufactured goods. here, though, the delays are much longer, huge queues of lorries are normal. it takes hours for goods to cross the border and sometimes drivers have to wait for more than 24 hours. so being in a customs union does not automatically make your border with the eu disappear, if you are outside the single market and its common set of rules and regulations. then our third bor

i'm joumanna bercetche these are your headlines angela merkel says the eu is ready to consider reciprocal tariff reductions with the u.s., and emanuel macron says the block's trade sovereignty must be protected. >>> special clidelivery for owed da the online grocer makes a deal with kroger. >>> altice jumps to the top of the stoxx 600 delivering its best commercial performance since 2014. >>> rough seas from maersk as first quarter profits are below expectations >>> good morning lots to get through today. first let's check in on markets. asian equities in the green following a stronger session in wall street. in europe, it's pretty much evenly distributed the broader composite index is trading around the flat line let's get into the individual indices. ftse 100, not a lot of movement on the composite index some major news coming out for u.s. bookmakers, they're in focus after they announced they're cutting the top stake in gambling machines to 2 pounds. also uk property sector has been dragging with some updates from british land and foxtons underwhelming. xetra dax is in the red, coming

politically, either for the uk or for the eu. ey do? the teenager does badly in his exams, bloody brits, go home and kick the can! donald trump and kim jong—un, the leader of north korea, could be talking after all. on thursday, after a series of incendiary statements from pyongyang, donald trump wrote to mr kim saying their face—to—face meeting next month was off. by friday night, though, president trump was tweeting that the two countries were having "productive talks" about meeting in singapore on june 12th, as originally planned. henry, in a sense, this is a bit of a triumph for donald trump's brinkmanship? the north korean suite him and pushed him and got a bit funny, andy said it off, they came running back? i think when you're dealing with a dictatorial secretive leader who. .. dealing with a dictatorial secretive leader who... it is impossible to predict what is going on, and also kimjong—un! predict what is going on, and also kim jong-un! come on! i think that is absolutely true, it is unpredictable. in fact, is absolutel

in spain, i more drama unfolding on the eu prayer for. -- periphery. ey will start a vote of no-confidence in the prime minister. eurozone doom mongers, morgan stanley ceo says don't listen to george soros. >> honestly, i think that is ridiculous. i don't think we are facing an existential threat at all. from the start of european cash trading, let's take a look at futures. across the board, we see gains in the euro stoxx 50, about the same as we will see in london, 0.44%. hit the hardest yesterday as the other indexes have bounced back. take a look at what we see in italy and spain, as far as the debt levels. right now, the 10 year in italy 2.7%, down from the blowout we saw. spain's 10-year trading at 1.38%. the u.s. 10 year coming back to unchanged. so itelds have been down, look like investors were seeking safety in u.s. debt as well as in the yen, though there is a repatriation trade going on. eightan get a hundred ¥.72 for your dollar. lets the with asset classes are moving the furthest away from their 90 day average. first off, as far as equity i

that it will go if the eu does not want to be a pa rt go if the eu does not want to be a part of it. be about eu rules and control data. we know the uk has to do compromise a lot in negotiations and the eu also has to compromise on some points and this might be one of them. compromise on some points and this might be one of themlj compromise on some points and this might be one of them. i think this will end might be one of them. i think this willend up might be one of them. i think this will end up with a fudge and we will probably be in the centrally encrypted part of the galileo system at some point. if we are involved in sharing intelligence, this is an too much of a leap to be involved in? sharing intelligence, this is an too much of a leap to be involved mm is also a manufacturing project so you have airbus contributing from the uk and they are talking about moving operations to france and it doesn't make any sense brister both be working on separate systems if there is a legal way to join together? thank you both. staple -- stay put if you would, for a minute. steve, focus on

with all those red lines the government has adopted and still benefit from all the things the eu has home affairs, security cooperation, worried there will be gaps is the uk but the eu says that if the choice you have made, that is what brexit is. on the future trading relationship, the space programme, all the things that the eu says you will be out, the issue of northern ireland at the border is really about heart of this, the eu say it isafun about heart of this, the eu say it is a fun to see what the uk government is talking about. there has to be progress before thejune summit when they need to see the uk's proposed solutions. people in the irish republic are voting in a referendum about whether to change the country's abortion laws. voters will decide whether to repeal the eighth amendment of the irish constitution — which bans all terminations, except when the mother's life is in danger. a burglar who attacked a d—day veteran in his home with a claw hammer has been convicted of attempted murder. joseph isaacs, who's 40, attacked 96—year—old jim booth last november. jon kay rep

politically, either for the uk orfor the eu. rnment forming, so what they do? the teenager does badly in his exams, bloody brits, go home and kick the can! i think there was a british former secretary who used to talk about summits as being one to show that summits. i think it is one where you can unpack a very large number of shirts to get through that final one before a deal on brexit. donald trump and kim jong—un, the leader of north korea, could be talking after all. on thursday, after a series of incendiary statements from pyongyang, donald trump wrote to mr kim saying their face—to—face meeting next month was off. by friday night, though, president trump was tweeting that the two countries were having "productive talks" about meeting in singapore on june 12th, as originally planned. henry, in a sense, this is a bit of a triumph for donald trump's brinkmanship? the north korean pushed him and got a bit funny, and he said it's off, and then they came running back? i think when you're dealing with a dictatorial secretive leade

the agreed with the eu. the cabinet hasn't come up with a final a nswer cabinet hasn't come up with a final answer as to what the deal may be. but letjeremy corbyn to talk to theresa may over the lack of clarity. when the prime minister wrote at the weekend that she wanted as little friction as possible, was she talking about eu trade or the next cabinet meeting? i think the right honourable gentleman knows full well that this government has a and of ensuring that as we do so we have as frictionless trade as possible in the union. that we have a solution which ensures we have no ha rd a solution which ensures we have no hard border between northern ireland and ireland, and also that we have and ireland, and also that we have an independent trade policy.“ and ireland, and also that we have an independent trade policy. if the prime minister cannot negotiate a good dealfor britain, why doesn't she step aside and let labour negotiate a comprehensive new customs union and living standard backed by trade unions and

mps doubtful about brexit want to steer a course close to the eu, for the sake of british business.about getting the right deal in the national interest, something that means that we don't go backwards in northern ireland, but also that our manufacturers are able to conduct trade across borders without unnecessary barriers. tonight, there are signs borisjohnson may rather stay and fight for his vision of trade after brexit inside the cabinet. but brexiteers won't like any customs compromise. there is still a chance that parliament may demand britain stays inside the eu customs system, and brussels mayjust throw out the whole idea. brexit was always likely to lead to trouble in the cabinet, in parliament, and in brussels. theresa may surely can't have imagined it would be quite this tough. labour has sacked debbie abrahams as shadow work and pensions secretary, after investigating allegations of workplace bullying. ms abrahams, the mp for oldham east and saddleworth, rejected the allegations and said the investigation had not been fair or independent. rail companies are launching a c

this is really important to ireland and the eu. chelle was looking at the border yesterday, there has been a huge amount of support for the irish that there must not be a border. mark: they will have a new plan to kickstart the talks to get under way are in emma: the u.k. ,as come up with a new proposal i think more than anything it engage and to to reach some kind of breakthrough. they want to look at option a and b together. the difference is that the u.k. says the backstop is in reserve, it want come to that. in the eu, they view is that it probably will come to a backstop because they can't think the free trade agreement will be better. the backdrop of course is unacceptable to the u.k. because it's going to be annexing northern ireland which to them would be unacceptable. mark: what are we expecting? emma: he is quite frank. the key difference apart from ireland is the future relationship, what the u.k. will ask the eu for the future , the inner cabinet is meeting tomorrow. amber rod was very much pro-remain, wanting a soft bre

in the lords, the government's flagship eu bill clears its final hurdle there. there's anger over the 15 defeats that have been inflicted on it. without any doubt, my lords, these days will go down in history as the house of lords at its worst. members of the windrush generation speak out about their treatment after being wrongly detained and threatened with deportation. they said they have got to arrest me. i said, what? they've got to arrest me. i said, who are you guys? they said immigration. and what impact did a campaign by actresses have in winning votes for women? it helps to promote the idea of how the suffrage movement communicated with not only people who are already on side but people they wanted to gather support from. but first... it was another week dominated by cabinet wrangling over brexit and the uk's future customs arrangements with the eu. at the end of the week the cabinet signed off on a backstop plan aimed at preventing a hard border between northern ireland and the republic. it would see the uk match eu tariffs of goods after 2020 if there'

the eu? for countries that aspire to eu membership that have association status, they want to be aligned with the eu policy broadly. because it helps bring their country forward as a whole. i think that's a great incentive. i think it both helps those countries and helps the sanctions regime itself. >> unity helps strengthen sanctions and hopefully give russia a chance and an opportunity to rethink its policy formation. and ambassador kurt volcker and dr. olya thank you so much for joining us, before i let you applaud our wonderful panelists, i want everybody to remain seated. sno ben cardin is about to appear. but join me in thanking kurt and olya in a great discussion. >> don't move. >>> subchitty will come to order. good afternoon and thank you all for being here today. to discuss the fiscal year 2019 and the fiscal year '20 budget for the department of veterans affairs. as far as federal domestic spending goes, this budget request makes the department of veterans affairs a very comfortabl

as the eu received an indicator of iran's intention to remain in the agreement? ,aroness ashton: first of all sitting next to david o'sullivan i feel quite honored. he is somebody a great eminence. i can say that. me, dare iwork with say for me, although it never felt like that. jane: i work for you. baroness ashton: that will be the day. we all work for you, jane. with a question really is for the other nations involved in any jcpoa. u.s., russia, china, the france, germany and the u.k. who were the six countries. my role in the whole of the negotiations was coordination and moving the negotiations forward. this was an international agreement and supported by the un security council. the uniqueness was in part that it brought russia and china, the u.s. and europe together to find a solution to a problem. i don't think there has ever been a discussion of that kind or negotiation of that kind. it has something inherently fascinating, interesting and really important about it. the question for those who remain, and david will have a greater in light into this discu

theresa may has reaffirmed her commitment to leaving the eu customs union. or trading post—brexit. now on bbc news, the week in parliament. hello and welcome to the week in parliament. coming up: peers inflict a string of defeats on the government over the eu withdrawal bill and tempers fray. if anybody is undermining the government at the moment, it's the foreign secretary rubbishing the prime minister! the government says sorry for the uk's part in the kidnap

let's assess how significant the eu is for britain's rate of industries. ct on every part of the british economy, but you may not have considered what it might mean for what we do right here — broadcasting. when the prime minister gave her big speech on brexit and future economic relations with the eu, at the mansion house in march, she highlighted two sectors of the economy that have never been part of a free trade agreement before — financial services, and broadcasting. 0n broadcasting we recognise that we cannot have exactly the same arrangements with the eu as we do now. currently, because of the country of origin principle, a company based in the uk can be licensed by 0fcom and broadcast in to any eu member state and vice versa. the relevant directive will not apply to the uk as we leave the eu and relying solely on precedents will hurt consumers and businesses on both sides. so let's break that down a bit. under current rules, if your channel is licensed in the uk, you can then broadcast throughout the eu, and vice versa. and a majority of multination

but the eu, canada and mexico were given a temporary exemption from the import taxes. exemption was about to expire, but it's been extended untiljune. one country which hasn't received any exemption at all is china, which currently has a $375 billion trade surplus with the us. thank you. our economics correspondent, andrew walker, joins me now. outlining the fact it would seem that the canon has been kicked down the road, what does it tell us about where the trump administration is that? -- where the trump administration is that? —— the canon. where the trump administration is that? -- the canon. there is some prospect of getting an agreement with the eu, canada and mexico, they are looking for in particular an agreement to restrict on part of those countries that exports going from there into the us, and exports of steel and aluminium. that is what korea has agreed, permanent exemption from the tariffs. we know some sort of exemption in principle has been agreed for brazil, argentina and australia. we do not know the details, but it is likely that will be some sort of

leaves the eu. proposal has angered major economies who have to contribute more to europe's budget. after a short break i will be back to take you through the day. stick around for that. ♪ [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] (soft music) - [narrator] china is the second largest economy in the world, and it's expected to replace the us as the top economy in less than a decade. beijing is increasingly looking beyond its borders toward investments in asia and across the world. their ambitious plans could make china the epicenter of global trade. washington must find new ways to adjust to china's global expansion. china: the new silk road. next on great decisions. (soft music) - [announcer] great decisions is produced by the foreign policy association in association with thomson reuters. funding for great decisions is provided by

for more on the eu retaliation, don't miss the eu ambassador to the united states.on power lunch later today. as we expect the tariffs to come within hours, according to the eu >>> when we come back on the show, a warren buffett fan boy that's how uber's ceo describes himself in an interview with carl talking about his goals to get warren buffett to invest we'll fill you in. >>> plus the man who transformed verizon into a tell come giant we discuss industry consolidation, regulation and a lot more we'll be right back. finally. hey ron! they're finally taking down that schwab billboard. oh, not so fast, carl. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management. >>> welcome back the ceo of uber has big plans for the company hoping to mak

turkey, in a customs union, has an extremely closed border with the eu. isn't but has a much more open border. switzerland is a better place to start. it's bogus to pretend it's about the irish border. what it's really about is about a majority in parliament trying to subvert the result. we have not had a significant vote against yet. we have not had votes for customs unions or anything like that in parliament. and in brussels they know they are negotiating with parliament and notjust the government, and that's a weak position to be negotiating from. isn't the real truth of this, it is a shambles because the conservative party hasn't decided what it wants to get from brexit. it could, with the dup, have a majority in the house of commons if it could agree on something. it isn't agreed. when you think about the referendum, it was about five years ago that the conservative party declared it would have a referendum, and here we are, less than one year to brexit, and you still haven't decided what the heck we are going to do. if that isn't a shambles, i don't

there's a lot of countries in the eu that do an awful lot of trade. ar was worth about $23 billion. this is a substantial stake riding on the outcome of these negotiations with the united states. let's face it, that's probably a negotiating tactic as much as anything because back in 1996 the reason why it is never been tested is because they didn't never had to enforce it because bill clinton as it was then came back to the negotiating table. what they are trying to do is by raising the spectre of this blocking the statutes they are hoping donald trump will come back to the negotiating table. they don't know at this stage of this would work with a very different character would like donald trump in the white house. they could have the opposite effect is tough negotiator and they have already got the added problem of the us threats of tariffs on steel and aluminium imports from the eu. there are several trade disputes ratting along at the same time. there's a genuine desire on the part of the eu to continue investing in iran. they see it as a very posit

so just to pick up on your question about how the eu u.s. coordination and to give it a little bit more context, this is harmonious with what the authorities included and how they came about. i would just make the point that the coordination that exists -- i should say existed between the u.s. and the eu in the development of these sanctions authorities and the implementation was really remarkable. it was a remarkable piece of foreign policy and policy coordination. brought together these authorities and economic sectors that were challenging for many the people involved. there were much greater european connectivity with russia. said organize the creation and implementation of these legal measures, which is unprecedented in this fashion, in such an economic sensitive areas, like it was really notable. also the reason it was done is because there is a belief to which i subscribe that there is a stronger messaging value an economic consequence and also it is harder for russia to divide transatlantic partners when there is this approach for the

the only people talking about a hard border is the eu. ussels sit on their hands and wait, the british cabinets... britain's going to leave the eu next march, and there will be a short transition period of less than two years, but we still can't get, from the british government, a clear idea of exactly what they want. now, there are certain things, for example, by allowing northern ireland to stay within the customs union for a certain period of time, that may or may not work, but until the british government actually says, this is what we want, and this is what the entire british cabinet is behind... i'm sorry, this sort of posturing worked very well in the scottish referendum, when right up to it, they said it was very unclear what they wanted, it was actually very clear what the scots wanted. it is very clear that the united kingdom wants to be able to facilitate maximum possible trade with the eu withut signing... but how? what is the mechanism? we keep going around this. it is plain that the ability to trade across either the channel

how is the eu seeing this ?ikely eurosceptic coalition plenty inthere is agreement here in brussels to make people very uncomfortable. you have one known entity and one unknown and the. the larger party is this new movement. the front person is luigi demaio. he has been very -- he has made a lot of efforts to reassure the european union this is not a eurosceptic already. they will not do anything toward brussels. on the other hand, you have the northern league, the party that has been -- has been around for a long time. they are very hard right. but neither are eurosceptic in the same way the u.k. independence party is eurosceptic. they are not calling for italy .o leave the eu they are not calling for italy to leave the euro. but they are e.u. critical. they have a proposal to publiciate italy's debts, proposals to end austerity, and most uncomfortably, it calls for a reopening of the eu treaties, something that brussels is terrified of doing. this will be very unpredictable. that's the main reaction here in br

last year they sold 40% of the weapons to eu and nato countries. you can see the remaining 60% went to other countries around the world. every single german arms export needs a government license for nations outside the eu and nato come under particular scrutiny. so they have to meet human rights standards. they must not in danger regional political stability, and they should not clash either with germany or the european union's political interests. but the question is -- those on trial in germany are accused of supplying rifles used in crimes including the suspected massacre of 43 mexican students in 2014. if found guilty they could face up to five years in prison. reporter: in 2014, a bus full of mexican students was attacked by mexican police. six of the students were killed and 43 others disappeared without a trace. since, investigators have determined the attackers used german handguns. that is proof the german weapon maker's guns landed in certain mexican states illegally. the german government gave the green light to sell to the mexican gove

when the meatballs arrive in felixstowe, we charge the eu's tariff and hand the money to the eu whichll be the border but we are trying to make it as easy border but we are trying to make it as easy as border but we are trying to make it as easy as possible for business by using super—smart technology so it is as light touch border as possible so is as light touch border as possible so there will be checks but it may be way back from the border. the difficulty is the northern irish question, there's real nervousness that even if you have a light touch border in northern ireland whether that might destabilise the peace process. so where we are that might destabilise the peace process. so where we are now that might destabilise the peace process. so where we are now is snake has divided her brexiteer ministers into two groups —— mrs may has divided her ministers and asked them to come up with answers which they have been unable to do. so it is not a customs quandary, it is a customs quagmire with ministers trying to claw their way out. we asked viewers to send in their questions about t

to stay close to the eu. moment, the message from the europeant is commission, the hartline. -- hartline. as we get close closer to the deadline, you may start to see some loosening as other capital say, hang on, we would like the u.k. to take part in these projects. vonnie: it will be interesting. today that say 20 or more pro-european conservatives are potentially considering rebelling against theresa may. that is a phenomenal block which may grow. what is the worry? >> that is right. that is what i was trying to get across today in my piece. the eu does see these disagreements in london and in the u.k. and realizes that, even in the government, between the conservatives and the oppositions, incomplete this agreements over the way brexit should go. one extreme, it should not happen to the other extreme, we should leave now and not wave goodbye. the european commission is taking advantage of those disagreements and trying to say, we will not -- get a common position and we can start talking properly. mark: t

in otherwords, we external borders on behalf of the eu. in other words, we would charge tariffs on goods coming into britain en route to the eu at the eu's level. that has incensed brexiteers because they say that britain would in effect be the eu's tax collector and it would inhibit other countries from having trade deals with us and they think it is so hideously, but that it would end in failure and we would end up remaining inside the customs union. mrs may faces a stark choice. she can either confront those brexiteers or confront the pro—remainers in about you urging the to go for the other option which the to go for the other option which the customs arrangements relying on smart new technology to minimise border controlled but there would be a border, including a board of sorts in northern ireland. —— a border. she faces a critical moment. thank you. let's take a look at the market. brexit always have an impact on the pound which has been looking a bit weaker lately. the ftse is in positive territory today. we have had some soft that

what should the reaction be from britain and eu? a bully, he is trying to bully his trading partners into making concessions to america and this is a tactic he has used successfully with other countries. the only way to deal with it is to stand up to a bully. it is absolutely right and the government should be working absolutely closely with the eu to make sure that we put in place countermeasures that we take this spurious statement that this is against the us national interests, to the wto, the world trade organisation, because what president trump is doing, he is undermining the whole global rules —based system of international trade. when he came into power he said he would put americanjobs into power he said he would put american jobs ahead of all others, why would anyone be surprised he is doing this? this is in line with what he promised. that is not right. he's putting american jobs at risk, because what the eu is going to do is put in place countermeasures, and those countermeasures will mean that americanjobs are those cou

how should we sort out customs after we leave the eu? f the prime minister's ideas is the so—called customs partnership. where britain would collect house on behalf of the whole continent, when goods arrive here from the rest of the world. but many of her colleagues think that's fanciful and unworkable too, and are trying to get rid of that plan. brexiteer backbenchers put their objections in black and white. a hefty document, passed to the bbc and sent to number 10, described to me as a threat they'd collapse the government if the idea remains. it would be extraordinary if the prime minister were to undermine her own policy by following this scheme, which sounded superficially attractive, initially, but now the details have been looked at and the consequences examined, appears to be a bad scheme. but other elements in the tory party protest. they want to preserve closer ties with the eu and keep the partnership principle. we shouldn't be closing down options. if i have a criticism of some of my conservative colleagues, it's that they see