whenas just nine years old the u.s. entered world war ii after the attack on pearl harbor in december 1941. four years later in the winter of 1945, when she was a few months shy of 13, the u.s. began dropping a series of bombs on osaka, then the second largest city after tokyo. she survived the air raids that took the lives of more than 100,000 japanese civilians, though the bombing of osaka has largely been overlooked. later that same year, 1945, the japanese surrendered, the u.s. and military troops to japan. in 1948, when she was 16 years old, she left home and headed to nara to pursue her dreams of becoming a singer. the city was now a bustling military town. she sang the blues and military fiendishthe likes of a songstress. while there, she met a mexican american servicemen. from texas. 1949, heth birthday in joined the military. apparently he was aching to leave his small-town in texas, just as she was aching to leave home to pursue singing. they married in japan in 1953 and had one daughter later that same year. t

the biggest u.s. producer, the most iconic name isthe game across the world , actually getting hit by the tariffs that are supposed to be helping u.s. producers and i think they made that pretty clear in the earnings and he made it clear in the call to us. alix: and the equity underperforming aluminum price no matter where you look. thank you so much. let's get into the ring. a big call of the week. gold hitting a one year low. bmp pareve cutting its forecast -- bnp paribas cutting its forecast this year. joining us now is the analyst behind that call. head of commodities research, joining us from london. good to see you. why the downgrade of gold? >> good afternoon. we downgraded gold for three reasons. dollar strength, the lack of inflationary pressures, and lack of investor appetite for the yellow metal. gold is facing a number of headwinds and we think the correction we are seeing is likely to pursue over the course of the year. in particular, as the fed keeps hiking rates. alix: i love you put th

is the u.s.. president, who will go to moscow early next week, prprepared to turnrn his back on nato all embracing russia? could his tough talk and ununpredictable actions undermie e e transaanantic partnership and the postwawar order overall? how united is nato? that is the topic this week on quadriga. it is a pleasure to welcome the senior associate for international security at germany's institute for international and security affairs. she says nato as only as strong as its members make it an open complex undermine its collective commitment. great to have christian, a security expert here who says u.s. president trump could sell out the alliance to vladimir putin. this call great fear among allies shows nato is eroding. and a foreign-policy expert for the african institute in berlin and the former state department official. he says nato focused for too long on threats from the east and south and failed to take seriously the threat from within. , youe start out by asking wrote before the summit

this is not how the u.s. is going to get china to change its practices, and the united states really needs to develop new rules. the transpacific partnership was an important agreement that would have gotten a lot of what the was wanted in that respect. the other part is working with allies, the eu, australia, japan, canada, they all have similar concerns about china. the administration in particular is alienating these allies so fore is no opportunity cooperation in providing a united front against china on these important issues. do you want to weigh in about artificial intelligence? we should be confident in the american system. we have a much higher standard of living in this country than in china and many other countries in the world. there were a lot of anxieties about japan 30 years ago, probably on this show, that japan had an industrial plant that was going to take over the industries in the u.s.. it didn't work. the central planning hasn't worked, and it is the same with china. they can have all the

the u.s. -- trade war. you can see how we closed the day. the dow down, the s&p down as well. the nasdaq down the worst in just one week. still seeing a bit of resiliency but still definitely down in the red here. in the monthighest because of these trade frictions. that also having an effect on what is happening with commodities. for example look limber commodity index is following -- falling. crude in the u.s. session both falling by five to 6%. you can see at least for wti catching up a little bit but brent crude falling just a little further. let's have a look at some of the impact there. the japanese yen this is how it has been weakening against the u.s. dollar. not much change to the euro versus the u.s. dollar. is chinese offshore yuan down the most sense devaluation back in 2015. the turkish lira continues to take a pounding as the u.s. dollars climbing to a record against the lira. trading in new zealand is just getting underway. off to a rocky start. aussie dollars are finding a sea o

exactly yes the u.s. the u.k. house a simple choice to make does it remain oriented towards its biggest market or does it try and improve its trade ties which is what which is a relatively small export market in the u.k. as we saw over the last two weeks it has decided to maintain good relations with its biggest market this is a good idea that of course nothing is written in stone just yet that white paper has just been released and it offers basically to need to brussels for ways that know how but interesting enough it certainly excludes when it comes to closer relations it takes excludes the financial sector why do you think. well the u.k. will end free movement of people when it leaves the e.u. from the start the e.u. is made absolutely clear financial service is off the table if the u.k. chooses to violate that key component of the single market so it's no surprise in a way the u.k. is simply realized that it cannot have financial services if it ends free movement of people on the side of the ending free movem

the u.s. a further escalates the trade war against china and its biggest mobile company will probably get no permission to operate in the u.s. . also on the show european auto giants brace themselves for u.s. tariffs china is ready to retaliate and target american carmakers. and used car dealers are struggling to sell dirty diesels across germany a big smile won't do for vehicles that nobody wants anymore. some for business on the w. and how you got to get us welcome to the show we begin with the giant clash between china and the u.s. over traped asian stocks fell on tuesday as washington and beijing are ready to slap each other with thirty four billion dollars in tariffs on imports this friday on top of it all further restrictions for chinese companies doing business in the u.s. china mobile is the latest to encounter obstacles. seven years that's how long the united states has been mulling over whether to allow china mobile to enter its marcus' finally a decision is near and the answer most l

others will tie you that the u.s. effectively lost the vietnam war because of westmoreland and the way he chose to deal with the communist presence in southern vietnam. he is a great guide to some -- but just like other issues when it comes to vietnam, there is no consensus on westmoreland. he was either great or he was really, really bad. people are now that -- are never particularly objective when it comes to vietnam. it is either all good or all bad when it comes to policy, policy makers, or in this particular case, to the american commander responsible for military affairs. magazine -- "life " magazine. the war will be extensively war media,the including the american media. the war effectively becomes inescapable if you are an american citizen. it is on the magazines you are reading, the tv you are watching, or the radio programs you are listening to. people still listened to the radio during that period. initially, it is fine. they are thinking, this is brave americans and they will suffer casualties. as these ima

but the u.s. won't be able to avoid taxing those goods if the president threatens to impose another $5 billion, roughly the total amount of the u.s. imported from china last year. investors knew this move was coming. global stocks and u.s. futures barely moved on this news. >>> months of scandals and investigations of misconduct proving too much for epa administrator scott pruitt. president trump announced his departure on twitter, later tell saying the allegations against his epa chief did not bother him. however, "the washington post" reporting trump forced pruitt out without speaking to him, ordering his chief of staff to let pruitt know it was time to go. in his resignation letter pruitt does not directly mention the scandals nor the 14 investigations into his conduct. instead he writes, quote, it is difficult for me to cease serving you in this role. however, the unrelenting attacks on me personally, my family are unprecedented have taken a sizable toll on all of this. despite his resignation

the u.s. economy. also, trade wars. in the risks. the copper-gold ratio. something highlighted. it has dropped at the fastest 2015 -- since 2015. we have seen a lot of commodities, in particular copper, hammered. . a bit of a stabilization. if we did see stabilization -- treasury yields follow, that might have implications. get how tight this correlation has been. anna: let's talk about what is coming up during programming. we will bring you our exclusive interview with the london mayor, around 9:30. we have heard president trump, he is not a fan of brexit. he doesn't like this man very much. and seelk to sadiq khan how he responds to the latest salvo. let's go to the first word news update. >> thank you. donald trump has dealt a double blow to theresa may on the first day of his visit. he told the british son -- news her plan willer kill any future trade deal with the u.s.. he suggested boris johnson would make a better leader. britain's financial industry also slammed may's proposal. greeting

the general overseeing u.s. operations in afghanistan says he is taking a new look at the war strategy. president trump announced nearly a year ago. he says he wants to consider changes that could include prospects of afghan government peace negotiations with the telegram. global news 24 hours a day on air and at tictoc on twitter. 2700ed by more than journalists and analysts and over 120 countries. i'm mark crumpton this is bloomberg. live from bloomberg headquarters . welcome to bloomberg markets. we are joined by bloomberg and bn and audiences. right now, president trump criticizing the fed taking aim at the central bank interest rate increases. raking with more than two right now, presidentdecades of e tradition. car tariffs caught and political traffic jam. globalociation with automakers on the commerce department hearing. flag towaves the white take over fox's entertainment assets. now what? >> let's get a quick check of the major averages because we are seeing the impact of president trump's comments just

the u.s. market is very important for us especially in the field of from a suit because also life signs and electronic materials we actually have as many employees in the u.s. as we have in germany a lot of research and development as well as manufacturing in the u.s. i also think that our products are very important to make the u.s. by taking this tree and the u.s. electronics industry competitive so yes there is some concern about changes in the global trade system but be believe that we as a company are somewhat less exposed than others. what do you do if if donald trump decides to put companies like yours on his tariff is what how are you going to respond to that. well as i said we manufacture a lot of products in the u.s. especially for life life science good so researchers biotech companies almost anywhere in the world including the u.s. depend on having access access to our products and actually being manufactured manufactured in the in the u.s. so we've looked at what kind of exposure w

growth in china mirrors the u.s. y. -- told the the hong kong stock exchange they are still working. -- soson is has followed most has filed for an apo. giantsh janet -- tech could and collaboration at any time. labelsup, north korea america has disarm and and claims the u.s. is gangster like. we will look at the u.s. reaction, next. this is bloomberg. ♪ yvonne: good morning. happy monday. it is 8:30 in singapore right now and we are half an hour away from the opening of trading. ramy: i'm in new york and you are watching "bloomberg daybreak: asia." let's go to rosalind chin for first word news. >> the u.k. will name a new brexit secretary on monday after dave davis and steve baker quit, in a major blow to theresa may. it is two days since she has secured back in -- backing for her plan. in his resignation, davis said her plan has lost sway with the u.k. economy to europe. asian equity futures are pointing to a positive open. the u.n. hadks of already taken a beating. president trump has threatened to extend the tarif

the u.s. is opening fire on the world with levees. >>> european carmakers outperform after washington reportedly offers german autos bosses a tit-for-tat solutions to cut tariffs to zero, while the eu talks with top exporters to avoid an all-out trade war with the u.s. >>> a less than sweet result for ab foods sends shares falling after the company deliver the a negative outlook for its sugar business. >>> sodexo surges to the top of the stoxx 600 as third quarter sales growth eats expectations, but the french catering group warns of weakness in its u.s. business >>> we were talking about how well the auto sector is doing, but we got some negative data out of the uk just out now uk new car registrations are down 3.5% year-on-year in june to about 235,000 units or so somewhat weak numbers coming out of the uk auto market, despite the positive mood in european autos today. let's talk about broader markets in general it's been a mixed session. in asia we saw equities struggle a bit on the back of

if the u.s. he tariffs on, then china cannot just take it, because of their own position in the world, in asia, and saving face throughout the world. i think in terms of the length of this, that is where we have to take a hard look. i'm of the view that this is probably not going to be a trade war, but more like a trade skirmish. after one or 1.5 rounds of tariff escalations, there would be an exit ramp. governments can almost always find an excuse to get together and talk about something. there are many international meetings coming up that provide venues for discussion that could lead to a breakthrough on these things. we have to wait and see exactly where and how we find the exit ramp. yvonne: let's say we are down the road, and china is sitting down with the u.s. china has agreed to many things, especially when it comes to intellectual property, nothing changes. what do you think the u.s. will, or should be very specifically saying to china that we have to see this, and in return, what can chi

the acting head of the u.s. border patrol is among those testifying before the senate judiciary committee. that starts at 10:00 a.m. eastern on c-span. in the afternoon, the senate judiciary subcommittee holds an oversight hearing the structure of the federal courts. coverage begins at 2:30 eastern. c-span2, the senate continues debate on the nomination of judge for the 11th circuit court of appeals. the senate is working on a package of spending bills for 2019 funding. in the evening, president trump speaks at a campaign event in tampa, florida, for three or asked for three republican candidates. that really gets a -- that rally gets underway at 7:00 p.m. eastern. mike secretary of state pompeo and commerce secretary wilbur ross. secretary pompeo announced investments worth 113 me dollars, and to support the digital economy, energy, and infrastructure in the region. >> now taking the stage, mr. -- mr. tom donahue, president and ceo of the u.s. chamber of commerce. >> good morning, ladies and gentlemen. [applause

steel industry in the u.s. steel mills me create some jobs and this would be good for both for some producers and consumers but on the other hand those great many industries that actually benefited in the u.s. from the cheap steel in the cheap aluminum will begin to lose their productivity and this is going to really badly affect us consumers too so this is not a win win situation for anyone certainly not american consumers what happens if trump slaps tariffs on all chinese imports what happens that i mean is that the end of the world. so it's not the end of the world but the consequences will be really dire because it's not only it's going to be very bad for the u.s. and china but really importantly it's not only about these two massive economies in the well right and that is reason enough to be concerned but there are also in our defensiveness so for example the e.u. right now has started talking about doing something about having something like a limit on steel imports because almost all of the steel overcapa

in the u.s. there is an enormous amount of money that's anonymous. $30,000,000,000,000 a ye $30,000,000,000,000 of money laundering. russians are corrupted and they are expanding. i should say the kremlin because in certain part - it should not be a nationality, it should be if you are working for putin or not. >> just to echo on the comment, he's exactly right. the keyword is transparency at the end of the day. we have certain mechanism to encourage that. we don't have it of -- boutique trust which i am showed discussed later on and we do have it foreign lobbying or lobbying on behalf of the government. it was not until the current administration and a certain gentleman paul manafort that anyone thought twice of enforcing. there is been half a dozen c conviction over half a century, that's embarrassing. the silver lining of the campaign of the brand new light and the mechanism that we have in the books. all in the sake of transparency. we could have done everything that she did that we are aware

today, we have heard that the u.s. bassador in germany has met with german carmakers, bmw and the like, trying to spread the message of trying to make a deal and coming up with a solution to avoid tariffs. we talk about oil holding a three-year high. it is going to be pretty rampant in the summer season, but president trump also reacted with an angry tweet. the opec monopoly must remember that gas prices are up and doing little to help. they are driving prices higher as the u.s. defense many of the members for very little dollars. this must be a two-way street. reduce pricing now. we have heard from the saudi's saying that they have done everything that they can to fulfill some of these supply disruptions. why do you think the president is so upset about this? >> he thinks opec is keeping prices high. as he said, it is a pretty popular declaration to make, .specially on independent day it would probably play well with a lot of americans who are noticing how much it takes to select at gas pumps. he wants to put pressure

the u.s. court orders the trumpet ministration to release the names of young migrant children separated from their parents of the border. and i'm sorry the thai fourball coach who led these players into a cave apologizes to parents. the syrian government is back in control of southern province after it reached a cease fire deal with rebels it ends more than two weeks of fighting that forced three hundred thirty thousand people to flee many to the border with jordan where the deal was brokered by russia which has been supporting the syrian government bernard smith reports from the jordanian syrian border for the first time in three years the syrian regime is back in control of its fronted with jule this military convoy flying russian and syrian flags rumble towards the nasi border crossing minutes after opposition fighters agree to surrender terms they had little choice in the face of overwhelming russian firepower the fighters will hand over heavy weapons and thousands of them and their familie

what the u.s. rket was indeed saying is so many sectors were not so much impacted by the trade aspect. there's probably some value from investors. so to step in, i do not think it was too much of anything else other than we have, again, good numbers. this is a big question going or so.e next quarter the u.s. numbers look so strong. they will now see the effects of the trade tariffs coming in. that will be an important focus for markets. discussing inre the break, we were remarking that we are expecting earnings to come in quite well in the fundamentals -- and the fundamentals to come in quite well, but the growing trade spat is something of a bermuda triangle that we cannot calculate. in terms of how you are trying to position what you are hearing, how do we navigate this? ben: that is a great question, but what you want to sort of parameters i laid out. you're looking at the emerging market index versus the dollar, oil prices, financial conditions. the correlation between all of those, we are famil

it was very counter for the u.s. to offer aid and assistance to the country as one that had been responsible for starting the war. marshall also, kind of a little bit more of a little-known fact of marshall, in that post-world-war-i period, and it was actually when douglas macarthur had stationed marshall out in chicago to be the senior instructor for the illinois national guard, he met charles dawes who had proposed a similar plan to the marshall plan in the 1920s, but it was privately funded, so it was a way to interject cash flow into germany to help them recover from the devastation that had occurred during world war i. so kind of the synthesis of all of these various factors certainly went into what marshall was thinking about when he surveyed europe in '45 and '46 and '47 and motivated him to encourage the u.s. to take a different course than it had post-world-war-i. >> before i ask a question, can i just clarify, did you say that they expected 50% casualties? >> yes. so that final quote i read from marshall, an

and as the u.s. china trade battle grows the world's two biggest economies are flexing their muscles beyond just tariffs taiwan is once again become a hot button issue and companies that do business in china are being told to comply with china's policy toward taiwan and others well c l it's mail which will give us the details of what's going on in east asia. from tariffs to taiwan. the tensions between china and the u.s. are heating up just this week the u.s. sent two warships through the taiwan strait a move china has denounced in the bottle bill should get to the point you are highly concerned about relevant reports in a blood cell in complaints with the u.s. side and must be pointed out that visits by the us officials to taiwan under any excuse do seriously violate the one china principle and regulations of the three joint communiqué xp between china and the us it interferes in china's internal affairs and inflict adverse impacts on china u.s. relations we are to the u.s. to honor its commitment on

if the u.s. ment with mexico, does that mean a whole lot of tariffs in advance for mexico, and they would have to with canada given the cross-border relationships? it's very hard to know exactly what's going to happen with this. we do know that international automakers are gathering in europe this month -- this week, to talk about strategies to fight back in the u.s. chamber of commerce and all the automakers of the united states have come out against it. there will be a lot of political thesure on congress to get president to change his mind. it's very hard to say where this goes from here. shery: mike, always great to talk to. michael mckee, bloomberg's economics and policy correspondence. amanda: coming up next, why investors are lighting up over 150 marijuana stocks. this is bloomberg. ♪ amanda: highflying stocks. the u.s. focused marijuana stocks are seeing increased level of investor interest as more states, including massachusetts and new jersey, push ahead with obama era legalization polic

the u.s. court orders the trumpet ministration to release the names of young migrant children who are separated from their parents at the mexico border. and rescue teams are trapped footballers are not yet ready to dive to safety spine heavy monsoon rains being forecast. the syrian government is back in control of southern province after it reached a cease fire deal with rebels it ends more than two weeks of fighting that forced three hundred thirty thousand people to flee and even to the border with jordan the deal was brokered by russia which has been supporting the syrian government and its offensive in daraa bernard smith reports from the jordan syria border. for the first time in three years the syrian regime is back in control of its from two with jordan this military convoy flying russian and syrian flags rumbled towards the nasi border crossing minutes after opposition fighters agreed to surrender terms they had little choice in the face of overwhelming russian firepower the fighters wi

and the u.s. were allies and not enemies adding he was ready to negotiate some hours later the two leaders announced they had agreed on a deal trump agreed to refrain from car tyrus while the negotiations with the e.u. are ongoing the talks will also seeks result u.s. tariffs on steel and aluminum for its part the e.u. agreed to buy more u.s. liquefied natural gas and lower trade barriers for american soybeans. said he was satisfied with the results when i was invited to the president to divide toasts i had intention i had the intention to make a deal today and we made a deal today. at the end of the meeting trump and you also said they would cooperate to reform the rules of the world trade organization the trumpet ministration frequently criticizes the w t o for discriminating against the u.s. so trump that this is a new phase of the u.s. relationship with europe are you surprised by the well it changes that your directory of where we're going that's the important piece and it's bought time what y

the u.s. hits a record, the fed warns tariffs could be harmful to growth. but markets ignore the politics. stocks in asia rise, set for a first weekly advance in five. u.s. and european futures pointing higher, as well. less than half an hour from the start of european equity trading. look at futures, euro stocks fit -- -- euro stoxx 50 gains. across the continent. we saw treasury yields climb, as well, in our new bloomberg forecast, looking at a continually climbing treasury yield. look at equity indexes. in asia, led by the nikkei almost 2%. we had gains across the globe in markets that are now closed, but the s&p was up yesterday, stocks in canada were gaining. we saw brazil up. in fx, it starts to get interesting. possibly with the trump effect, you saw a weaker british pound against the u.s. dollar, but you see a stronger dollar against most of the major currencies. a stronger dollar against the euro, stronger dollar against the yen today. if you look at what we see in bonds and commoditie

the u.s. pushed ahead on a tom to impose tariffs and .ckenzie joins us here it is not entirely consumer facing. >> and accurate characterization and there are the rounds of and this is the withbroader range of items they have said and youh the goods might get the tariffs than impost and the trade representative says that this is a response to what they said was unlawful retaliation to the initial round and they highlighted with a said was addressing key united states concerns about industrial property theft and what they describe as a forced to transfer. and theye this running can catch up on all the responses. are shocked and they are saying the list is not acceptable. >> the list was published after the extra 60 billion is put into play and will we're looking for is the details of how china goes because they cannot match the number and you are now looking at regulatory restrictions and we have not got more details and it is possible they will flesh it in theirr keep back pocket for one the pl

reporter: that's what the u.s. is doing on the other side, especially when it comes to the steel and aluminum tariffs that the u.s. is imposing. the u.s. is saying those are justified because national security is at stake but on the other side, the retaliatory measures from the european union, from china, from mexico, from canada, are not justified, that's why the u.s. is filing its own complaint with the world trade organization. for the short term, that doesn't really mean much because it will take time, at least by the end of 2019, to get any kind of decision of the world trade organization. so there's no immediate effect here. daniel: we heard a little already about china's slowing growth. how is this trade conflict affecting prospects for economic growth? reporter: we had a new report out on monday from the international monetary fund. they're actually saying that global economic growth has plateaued, that the greatest risk actually are those trade problems and they have lowered, so the i.m.f. has lowered the g

the u.s. ould rejoin the tpp and japan is not interested in a bilateral trade deal. betty: the new brexit boss said the government must prepare for any eventuality including a no deal support. sydney.ello from it is pass 8:30 -- 8:00 a.m. betty: it is just past 6:00 in new york. i am kathleen hays. there is a very interesting backdrop for the asian open as the g20 met, just as donald trump was tweeting out china and they you are manipulative -- the e.u. are met -- are manipulating currencies. they say trade tensions are a threat to the global economy. tell us something we didn't know because that is the theme for the markets and investors around the world. haidi: these comments from president trump about the alleged currently -- currency manipulation follows on the back of his remarks on how he thinks the dollar is too strong, the fed tightening, not a fan of that. really wreaking havoc. andleen: it certainly is, let's take a look at the u.s. close. indexes i think were pretty much unchanged. y

that you think the problem goes beyond the u.s. president alone you referred to the threat from within what do you mean exactly by that yeah i mean president trump is just a symptom of something that is not just happening in ited states but across the nato space which is erosion of trust in democratic institutions and erosion of trust in democracy itself return to kind of ethno nationalism isolationism america first poland first hungry first this first ism and this is not circumscribed to one man or one country this is across the board and those are not the natal values that were established after the second world war let me get us to all take a listen to a sound bite from president trump at abe rally that he attended last week in other words before leaving for the summit and it essentially is mr trump describing a batch of letters that he sent out to the other nato members and especially one letter in particular namely to chancellor merkel you know what. i can't guarantee. we're protecting you and it means a lot more to you then pr

and while the u.s. and china are bringing in free trade the african country of djibouti is bent on doing the opposite as of this week the whole nation is home to the largest free trade zone in africa leveraging its location at the coast of one of the world's busiest trade routes where asian and arabic vessels make their way towards the suez canal. that ships will dock in djibouti enabling the country and the entire continent to play a bigger role in world tracked. it's the first phase of what's to become africa's biggest free trade zone the two hundred forty test site that's the size of about three hundred fifty football pitches is intended to encourage foreign companies to set up manufacturing plants. at the opening ceremony president was joined by several chinese business representatives a reflection of the two countries close economic ties. that. let's. international free zone is a flagship project that culminates a significant number of infrastructure projects that have seen the light of day in recen

the u.s. economy is currently strong and now well outperforms other major economies so you know this is why one must question more because as well for her points out when he's watching all the news there are unanimous they all agree that trump is his trade policies and his tariffs are a disaster ok last year for her let's write the comparison to the versus the u.s. policies versus global trade so donald trump goes to the global trading environment with the ability with leverage america's got a leverage in that economy and it can reshape the global economy. they went against the e.u. with no leverage they have a zero leverage against the e.u. therefore they've lost tragically against you and their dollars are being marginalized and isolated as a result of it they completely mis stated our misunderstood there at the equation between the u.k. and the e.u. when it comes to business and trade yes but i do not believe the elite wanted the brics that it's the voter that one of the brics and that is w

the north vietnamese strategy, yes, u.s. diplomatic history, but it is important to understand what the other guys were thinking to make sense of the outcome. le duan's thinking is clever under the circumstances. again, these guys are very much aware of their own limitations. they are very much aware of how powerful the u.s. and its allies are. so their whole strategy is to -- with respect to the u.s., isolate the united states militarily in the south, and try to draw them and isolate their units, and try to minimize their ability, reduce their ability to bring the full bear of the american military on communist forces. so you kind of isolate american forces that way. and diplomatically, internationally, same thing. try to make the americans look like criminals in vietnam. try to get the world to turn on the u.s. so that the u.s. ends up with no friends in the world. at least no one willing to support its military enterprise in vietnam. with respect to the u.s., it is all about isolating the americans militarily and diplomati

data out of the u.s. aying into that partly, but metals have been hit and i will come to that in just a second. let's dig deeper to what's happening with the euro. extremely high in the session. as it moves higher toward 118, the euro calls are actually failing to gain substantial traction. you look at the one-month risk reversal and auction traders are not feeling as much optimism at the moment. and i want to take a different look at what is happening in the market. we have seen off by 6/10 of a percent in the session. this is talking about copper specifically. heading for its worst weeks since 2015. industrial metals generally have been hit amid this commodity rout. copper in general is generally seen as a bellwether for global growth. you can see lme copper really underperforming the bloomberg commodity index. vonnie: u.s. employers to keep up a steady pace of hiring in june with 230,000 jobs created last month. the unemployment rate jumped 2/10 to 4% as more people entered the workforce. the jobs data

what kind of policies is the u.s. putting in place to make sure not only the kids separated from parents but also that they are treated accordingly to their needs and certainly obtaining children is also a potential violation of basic rights. so we continue to be concerned, and we continue to be working closely with the u.s. i expect that on tuesday in guatemala, it will be a productive meeting where we hear from the u.s. specific measures to prevent this from continuing and happening again. >> so let's move on now to relations going forward. as you have said, it's very important to have a working relationship with the united states. so what do you think will change under a new presidential administration in your country? for instance, you know president trump has often derided what he calls a trade deficit with mexico. he's talked about ripping up and renegotiating nafta. your own president-elect thinks nafta needs to be renegotiated, but i guess he comes at it from a different political vantage point than president t

reactors in the u.s. get the majority of that from canada, and australia. u.s. uminum tariffs also take a bite out of -- the company lowered its 2018 profits forecast. our 2018 outlook to reflect recent market prices. increased energy costs, and tariffs. >> joining me is bloomberg's metal and mining reporter. beforeke to the ceo those were announced. what did you learn? impact. an actual we were going into this and we were talking in the background, us being bloomberg, saying this -- there will be focus on tariffs. he launched straight into it and said we will put it all out there. we are taking a $15 million cost from the stamps because we produced more aluminum and candidates than we do in the u.s.. -- in canada then we do in the u.s.. they thought canada would be excluded. everyone is putting that into their model saying that they were not excluded. that it's them on the front end. that is part of the reason they had to downgrade for 2018. irony of that. a u.s. aluminum manufacturer that gets 28% of its production in canada. >> right. we have big smelters up t

but the u.s. government brought against a company the receipts proceeds of the crimes discovered.giei effort to gather as much information as they could on me, they used a discovery rule to ask for every document i had created in my firm over the last 20 years. they're asking for my entire life basically to be handed over. we fought it and lost. looksdge said, it reasonable. entitled.gant is he did not understand this was information going to be fsp. we had to produce 400,000 pages of documents. they were asking for things like journalists we were in touch with and whistleblowers, security arrangements, tax returns. they just wanted to get a hold of the information. the russian government will use every tool in their book in using international laws in order to try to destroy their opponents. , this the prime examples is not an unusual story, i know there are others. i will leave it at that. >> we will hear about that case in a few moments. what you describe is why we are here. the systematic abuse

and then the events of prizes in the u.s. that have recently made political donations have rapidly found the business climate improved for them raising the question of cost versus correlation r.t.c. goshdarn of takes a look. it's no secret you need money to win a political race if you're an american politician donation is key but don't fret there are always business sharks happy to support you cause you just have to find your match and here are the lucky ones who already did. the new york governor for instance was blessed with a hundred thousand dollars from the coffers of the winklevoss twins co-founders of facebook and now cryptocurrency moguls what an act of generosity of good faith and what an act of good faith from the new york authorities approving the crypto currency exchange for the twins. correlation doesn't mean causation of course but there's a clear countrywide pattern here in florida to act which if donated to the campaign of the incumbent governor and later those same firms were approved to crunch unfun . surely

the u.s. government will let the company do business with the u.s. again but only for a month. and a russian reform economists may like but older russians may not get ready to work a little longer. but some for business on d. w. ho you don't get us welcome german media are reporting the u.s. ambassador to germany has offered to german carmakers a solution to the ongoing tariff dispute it would imply both the u.s. and the e.u. completely eliminating import tariffs for vehicles making it happen would require significant changes to existing policies but it's an unusual option earlier today german chancellor angela merkel expressed her concern about possible tariffs for the country's crucial auto industry. get it right now we're witnessing something full time which we've always considered a constant namely the role of multilateral organizations we now have tariffs on a limb in yemen steel and we have a far more serious issue to levees be raised on cars imported to the u.s. . import with and ladies and gentlemen this has the traits of a trade conflict i'm not ready to call it anythi

the inability of the u.s. army to acquire or produce some of the material it needed, such as tanks and artillery, left it in a difficult position of having to borrow these important pieces of equipment from the british and the french. as marshall's experiences revealed, this was problematic, because the components could be removed from an operation at a moment's notice if it was determined they were needed for another operation that was considered a higher priority. marshall's encounters with french and british leadership during world war i proved invaluable when he became chief of staff. he quickly became aware that even though the allies had the same broad objective, their ideas about how to achieve it differed greatly. when this was combined with the different agendas, cultures and personalities of individual leaders, it is not surprising that the allies had to put forth considerable effort to reach a consensus. the leadership of general pershing also helped marshall to understand the situations in which it

if the chinese government follows through with its threat the u.s. lobster industry could feel the pinch losing its edge over rivals such as canada and australia that will hurt the americans last year china imported about one hundred twenty eight million dollars worth of live lobsters from the u.s. accounting for fifteen to twenty percent of total u.s. lobster exports. sadly gets here what china calls the precipice of a global trade war well when donald trump became president he promised his country that he would put america first and when it comes to global trade his mantra has long remain that the u.s. has drawn the short straw it seems as if his latest moves on effort to redress the balance and change that. tariffs have long been one of donald trump's favorite topics even before entering the white house last january he promised to slap levies on u.s. come a cause with plants in mexico initially he seemed content just to hand out threats . twelve months later however the situation was more serious on the twenty second of january two thousand and eig

they are clearly loving the u.s.. oking for or is it something of a change to the nature of what the approach is? what is the nature for this change? katherine: it definitely speaks to a change in deputies investing -- in japanese investing. prefer u.s. assets when they look abroad. they have been pushed further up the spectrum as hedging costs have become prohibitive. joe: this is a story we see all around the world where people perceiving not a lot of return anywhere on perfectly safe assets so people feel the need to push out the risk curve. katherine: it definitely speaks to that. these japanese investors are having to raise the risk profile just as concerns start to emerge in some of these other markets, specifically the u.s. stock markets. joe: when we talk about japanese investors or any investors, there are my melissa investors, institutional investors, big fund insurance companies, what type investors -- of investors are we talking about? katherine: this data i am looking at encompasses a wide slot of investor

in north korea in the u.s. so they're saying rather than coming in and putting these gangster like demands is the way they have described it to him plea denuclearize the korean peninsula we must start first at first steps now the south korean. government has said it's this is the first step in the journey towards the denuclearization of the peninsula it's noted there will be ups and downs in the process so certainly there's got to be some element of optimism if they've all agreed to the next meeting so some suggestions that's completely bindy riled. and not necessarily the case if these are the next meeting set down for july twelve and so a while interesting dynamic a report north korea to one side is the way that like pompei and the u.s. have to deal with two very strong allies south korea and japan who have very different approaches to north korea and that in itself is a diplomatic tightrope. to walk it is and look i mean the message from by south korea and japan today is a united message they're both thanking

the u.s. rket some nuggetss that is still an whir area can head winds >> it's been stat freq a while for example heineken plan to position themselves much more in that segment and it it it's acquisition strategy to buy up some of the small brewers monopoly. >> i see it comprises about 5% is that a high margin area and it something you expect them to focus on less in the future >> you don't have to nay same kind of catches. as a caveat, they don't often want to pay the same price so they want to feel like they're having the fun and sophistication of alcohol, without necessarily a hang over the next day and i think hawncon have positionedselves really well on that but whether it's going to take place of full-strength beer in western markets, i'm not convinced. >> it's somewhat of a case of managing investorers so far you note we have had an increase in earnings but when it comes to eps, not quiteads rosy as the u.s >> we had very weak -- in the second quarter the risk would have win that earnings

searter: the u.s. the : i was addressing an american comey whose headquarters -- american company whose headquarters are here in london. americans love living in our city. some will be at the protests today. thank you for all you do for our city as americans. there is no reason at all for you to be alarmed or worried about today or tomorrow. what is important is that the protests today are peaceful and in good spirits, as i'm sure they will be. francine: that was the london mayor, sadiq khan, speaking with bloomberg's anna edwards. teos ywith us, isabelle ma lago of blackrock, and joining anthony gardner, former ambassador to the eu. what do you make of the president's comments in the sun is in "the sun -- in "the sun?" >> it is outrageous. many businesses want u.k. regulations to remain aligned with those of the eu. the second point that is important is a lot of the regulations the u.s. complains about and that the president and wilbur ross wanted the u.k. to ditch are those agricultural regulations t