it would be bad for u.s. consumers and bad for u.s. business the u.s. sells lots of airplanes to china and has the capacity to sell more. if the chinese stopped that, that would be disastrous for boeing and other aerospace manufacturers in the united states there's talk about apple you mentioned it in your preamble this morning. it's not good for apple because the chinese could stop the sale of apple phones in china, cha would be a disaster for the apple company. >> want to wrap it up with this. you made your fortune by thinking outside the box give viewers and listeners in the u.s. and around the world an out of the box idea right now that you got given everything that's going on we're focused on trade and everything give us an out of the box idea >> in 20 or 30 years time the average human life expect santi will be 110 or 120, and people will no longer be frail in old age, they'll be welderly instead of elderly that will change many markets and many things in the structure of our lives that's got to be great news for us all >> investing in aging. jim

u.s. tariffs on european meso are in place and more tariffs on cars might be on the way america's love affair with german casts a vive washington's new round of tariffs on imported steel. also coming out u.s. soybean farmers here a worse thing in the u.s. china trade relations but will that worries be good in washington. also in the so dollars a bag is being dealt another blow in the u.s. now for a banking authority calls a. troubled s. and p. downgrade germany's biggest lender to triple b. plus states. welcome to do business i'm. in for a little as for many months we've been talking about a looming trade war between the u.s. and the e.u. well it's not moving any more the first volley has been fired as upset today u.s. tariffs on european steel are in place the e.u. mites now retaliate in a further escalation us president now this is discussing to slap tariffs on german cars too he says there are too many of them on the roads of america and too little u.s. cars in germany but do merican dr

u.s. says sweeping tower of steel an alibi will take effect on friday. there could be nothing short of tragic to let this opportunity go to waste. first talks in new york and now a top north korean official is heading for washington bearing a letter from kim jong un to president trump. also the security council a warning for south sudan sanctions are coming if the fighting doesn't stop. and did italy the political deadlock appears to be over with a populist government set to be sworn in very. welcome to the news of the united states is imposing steel and alan minium tariffs on the european union canada and mexico stoking fears of a global trade war now the trumpet ministration claims the move is justified saying reliance on imported metals is a threat to national security but its targets are some of america's closest allies and their threatening retaliation french president called the u.s. action illegal his foreign minister says america first is becoming america alone mexico's economy min

u.s. president and north korean leader. a really you know a lot of progress. really very positively better than anybody could expect. amazing that many thought would never happen is addressing pyongyang's nuclear ambitions. i'm sam is a dan this is al jazeera live from doha also coming up stranded at sea hundreds of migrants who were rescued off the libyan coast find themselves with nowhere to go. and we meet the afghans walking a seven hundred kilometers for the message for their government. after eighteen months of trading insults and threats of nuclear annihilation donald trump and kim jong un have held face to face talks in singapore in the last few moments trump said the meeting went better than anybody could have expected but it's the first time a sitting u.s. president has met a north korean leader. really great to really take you to a lot of progress really very fatherly better than anybody expected comparable to. well i dream brown reports on a historic day that many people though

of course, the u.s. has its own issues. the u.s. will have a midterm election coming soon so politicians need to do something in order to win the election. wiinistration there are personnel changes. you know that better than i do. it turns out that the hardliners are now taking more important positions whereas the pro-trade officials either left voluntarily or involuntarily. so now let me focus on the factors for the process of trade imbalance between china and the u.s. if you look at the overall balance of payment that is one person desk -- that is 1.4% of the gdp from last year. on a bilateral basis china's trade surplus of the overall trade deficit. this is greater -- the largest partners combined. mexico is number two malaysia is number nine but all of these account for 44% of the u.s. trade deficit. politicians will definite pick up china to reduce the surplus against me. i think there are a number of factors behind the bilateral trade imbalances. also the u.s. overall trade imbalance. one is the role of llar. this shows that b

the u.s. in response to the trump administration's duties on canadian steel and aluminum. beginning july 1, some items will be subject to taxes of 10% or 25%. the canadian foreign affairs minister announced the measures today in hamilton, ontario. ms. freeland: canada has no choice but to retaliate with a measure of the great reciprocal dollar for -- perfectly reciprocal dollar for dollar response. freeland said, "we will not escalate and we will not back down." president trump once replacement for anthony kennedy by october. the white house legislative affairs director told reporters today that the president will ask potential nominees about their past and academic credentials but will not ask rulingpecific cases or such as rove versus wade, the landmark decision that legalized abortion in the united states. scientists for the environmental protection agency's day they are being left out -- say they are being left out of the rulemaking process. in a letter to scott pruitt today, the epa scien

the u.s.s following a different path on and and leading a more protectionist policy approach right now, there is still a chance that all those other countries that are united in the g7 and g20 and the member states of the wto will be able to carry on and stick to the global liberal international order. melinda: do you really think they will get to any topics at the summit besides trade? laura: i sure hope they will because there are really big crises like the ones in syria and eastern ukraine, other topics that are really relevant that we should be talking about. topics like equal rights s for womemen. ifif you look at the a agenda fr the g7, also climate change. these are really the topics we should be talking about rather than getting into those fights. the u.s. is giving its official justification for notsing these tariffs, unfair trading practices, actually, but national security by proceeding under what is a fairly obscure national law rather than under standard wto procedures. is the u.s

in the u.s. they believe, apparently, that the wto is an incursion on u.s. sovereignty and decides on biased ways against the u.s. they believe the u.s. is in some sense a sucker to china and others. now, there is a real issue here, as my colleague chad and others have written about, about china's market economy status, whether or not it should be granted that in the wto in fair terms. there are other issues at work. but in those areas where wto dispute settlement is applicable, china has obeyed almost all of the decisions against it, and notable exception is with regard to union pay and payment systems. but for the most part, has obeyed wto rulings. it is the most efficient and the most fair and the most legitimate way to deal with issues that are within the wto remit. it is in both the u.s. and china's interest to have that go forward. fourth, and this is perhaps the most important point. and chad will pick up on this. some current real disputes such as over technology transfer and intellectual

the u.s. position is the u.s.institutions and administration has been since this illegal measures been taken against the state of qatar remember very supportive to me in calling for the escalation and for unity within the g.c.c. . the president at the beginning of the question is not reflecting. what we are as a single evaluating our relation with the us based on. the president has been informed by his institutions about the relation between qatar and the united states and. we have very strong and very constructive. engagement with the president himself and the president himself here he has spent a lot of efforts in the escalating the situation and calling for to begin to tee off the g.c.c. trying to convene a meeting between the g.c.c. countries in order to feel that that can reach a solution you've had has. has it had an impact on the white house has had an impact on the u.s. president and perhaps softened his position the communication mainly happen between within the us system but our communication command at

u.s. tariffs on european metal are in place we ask can america's love affair for a highly engineered german cost survive washington's new round of tariffs on imported steel also coming up u.s. soybean pharmacist via a worsening in u.s. china trade relations but will their worries be heard in washington. welcome to the business of so far we have u.s. tariffs on european steel and alan many on but u.s. president donald trump could go even further and slap tariffs on german cars media reports suggest he may even want to ban german luxury car. it's because he says there are too many of them on the roads of america and too little u.s. cars in germany but are you as motorists interested in switching from b.m.w. to fort. richardson gauge the mood on the streets in the u.s. capital. luxury german cars are a common sight on the streets of washington d.c. and the idea of blocking their import isn't so popular. people want to buy german cars they should be able to buy german cars if not they want to

and u.s. senators consider a bill which would greatly expand the president's war powers even as constitutional experts testify about the dangers of the new legislation. a very warm welcome this is r.t. international with meaning aaron good to have you with us this hour now our top story it's been a year since the start of the operation to liberate the syrian city of rocket from meisel but the human cost of the operation still remains unclear according to the u.s. led coalition the number of civilians killed in the battle for rocket will never be known as far as how do we know how many civilians were killed i'm just being honest no one will ever know anyone who claims they all know is lying. it comes as honesty international releases a report accusing the u.s. led coalition of relentless air and artillery strikes jury in the battle for rocker the report even suggests the coalition may have committed war crimes as r.t. for trying to explains. getting to the bottom of what was really happening in

normally u.s. presidents don't replace their secretaries of state and various other lead a disease like the cia within the within a period of a year or two years he's been very very different in that regard he's done all these things that are counter-intuitive and and yet and still he manages to come out ahead so. he's thinking the same thing on this with regards to imposing these these these trade tabs whether or not it's going to work with the with the deputy oh and with our trading partners is yet to be seen but he believes that it will and he's willing to stand alone if he has to make that point now we see a second see it vos send that that out and many still have companies on either that deal or expanding is it easy to see it from that perspective or do you think that the tit for tat because the create will problem for the american companies and the american consumers in the in the near term. i think of it that the problems are much bigger than the share of trade they're verities actually targ

of course, the u.s. has his own issues. for example, the u.s. is going to have a midterm election coming soon. so politicians need to do something in order to win the election. within the administration, their personnel changes. so you know that better than i do. it turns out that the hardliners are now taking more important positions when they pro-trade officials either the left voluntarily or involuntarily. now let me focus on the factors. and that trade imbalance. if you look at the overall imbalance of payment china's surplus stood at 1.4 percent of the gdp from last year. however, on a bilateral basis, china's trade surplus against the u.s. account for 46 percent of the overall u.s. trade deficit. this is greater than the largest trade partners involved. like mexico number two, malaysia number nine, but all of this combined account for 44 percent of u.s. trade deficit. so politicians will deftly pick up china. you need to reduce your deficit, your surplus. i think there are a number of factors behind the bilateral trade imbalances. and also

brent: the u.s. president hails a supreme court decision to uphold hisis travel ban on sevel muslim majority countries. we will geget more from the u.s. capitol. alsoso coming up, malta says it will accept a migrant rescue ship it previously turned away. several european countries agreed t to take a share of the 200 migrgrants on arard. yet passengers on the ship say they have heard nothing about anher government and her job on the line because of migration. german chancellor angela merkel is trying to deliver immigration policy to satisfy the most conservative members of her coalition government. she has added that a plan is the answer but time and public opinion are not on her side. and we have the latest from the world cup as groups c and d come to a close. argentina addled nigeria for the last 16th spot. all the world cup action is coming up. ♪ brent: i'm brent goff. it's good to have you with us. tonight, u.s. president donald trump is celebrating a major victory. the u.s. supreme court has uphe

who are located in the u.s. -- u.s. mainland and covepnaverbing national movement it's a movement the u.s. government really suppressed and there's a listen not many nose much about t and there was a reason republicans didn't want to make it known that he was not in support of independence. they didn't want to have a match r. -- f.b.i. file opened. mail were thoughtses of being opened and it's a very dark history of the united states. >> a couple of quick follow-throughs. i think she passed away. >> she did. she passed away in 199. >> and how did you come across her story and why? >> i first started doing research on and i have written about -- puerto rican women who were involved in the independence movement in puerto in including protesting, the is the 1970's. and i can say something about that. but as i did research in wan juan -- san juan, i hittered sta stow her name and i reelsed that me scomme other nationalist party women that i was researching were also active in manhattan so i went to the archives at the cente

u.s. trade and investments in latin america. the panel was asked about the impact about the president's tariffs on u.s. trade partners including canada. this house foreign affairs subcommittee is about -- one hour and 20 minutes. >> acorn being present, a subcommittee will now be in order. i would like to recognize myself or opening statements. the western hemisphere possesses tremendous opportunities for further economic growth and u.s. business engagement. the united states already has significant economic interest in latin america and the caribbean's. it is the largest single source of foreign investment for many countries. we are also the top trading partner for most countries in the region and have free trade agreements with 11 countries and bilateral investment treaties in international investment agreements with 19 countries in the region. hedging in seeing the region from some countries that don't always play by the rules, which undermines u.s. economic interests. china has signifi

u.s. president says he's willing to escalate. they are now suffering the the 2008xit this sense meltdown. in hong kong, i am rishaad salamat. haidi: in sydney, i'm haidi lun. coming up, oil sliding ahead of what could be a fiery opec meeting with iran leading something of a rebellion. this is "bloomberg markets: asia ." rishaad: just to seeing hong kong closed. shenzhen and taipei as well because of the dragon boat holiday. concerns about the trade war getting worse, but a bit of world war. moment. have it at the that's the picturof what's happening. that one. close for there we have it. haidi. haidi: we are talking about last week being the most important week of the year for investors. we might get more market reaction. we spoke about the concerns over trade playing out across the commodities market. copper, soybeans, cole. we have seen that reaction across the commodities complex. could be a contentious messi opec meeting, divided going into friday. you are seeing declines when it comes

u.s. imposes tyrus on chinese imports. france and israel is leaders are meeting in paris to iron out differences on the refugee crisis. and the united nations warns global warming is still reaching dangerously high levels. the leader of yemen to the rebels is called on his supporters to fight back against saudi and emirate he supported government forces who were closing in on the vital pull city of her day meanwhile the u.n. security council wish discussed the issue on thursday says the port must remain open for humanitarian deliveries lower burden monday reports. yemen's port city of how data was bustling with people buying food on thursday bought this is also a city bracing for a heavy bombardment and the. people here are barely living his unemployment you know data there are no jobs the person you know works to on his daily living there will be a big crisis if the fire chad moved into the city and with poverty and hunger and the residents will be victims people are dying from hunger the

the u.s. in july as larry kudlow says that president trump is not solely responsible for rising tensions. >> don't blame trump blame the nations that have broken away from those conditions very important point all right? trump's trying to fix this broken system. >>> and the shares fall as the drink maker's flat dividends disappoints investors although cognac sales help. >>> warren buffett and jamie dimon are teaming up in a tv first, our u.s. colleagues will speak to the sage of omaha and jamie at 12:00 p.m >>> good morning, again. welcome to "street signs." we were just talking about the delayed open of the ftse 100 you can see it's just opening up behind me about 40 points higher, about 0.5% roughly we have got a bunch of stocks going -- so that's taking off about ten points from the overall composite. but as you can see, the ftse 100 is starting off on a firmer footing. let's switch and talk about the action in europe this morning. of course we did have a stronger session in asia as well sa

tariffs on u.s. products or taking other measures the german steel association fears that it could lead to even more trade barriers and further economic damage. i'm not joined by our correspondents terry shoals and brussels tara let me start with a quote europeans will gain nothing through weakness the american president will never respect europeans weakness that's what the french finance minister has. told reporters i found monstro quite conciliatory than they're little by. the e.u. angry at all. well of course you've got to remember that the syrian moms from speaks for twenty eight countries it's not as easy as speaking for your one single government but i was at this briefing with cecilia mom sherman i didn't get the sense that she was being complacent at all she said unequivocally that the u.s. will not get its wish to have negotiations treatment though she actions on other sectors as long as these import tariffs remain in place and this morning federico mo greeny said you know the e.u. is a proj

u.s. as the two nations hold talks to try to avoid a trade war. and anti immigrant right wing parties predicted to win the most seats in slovenia's general election. the meaning of baghdad calls to repair rocks crumbling heritage are being ignored. and is mounting in jordan against tax increases there's been another day of protests calling for the government to resign the tax rises are required by the international monetary fund to reduce the national debt. at the largest anti-government rallies in five years in what regard is one of the most stable middle east countries the purchase movement initially started by trade unions has swelled nationwide today to show their frustration. i'm up with how local white citizens now have no power the searching for the children's t.v. food women are looking in garbage containers to feed their kids and every day we are surprised by rising prices of new taxes. the problem is not just with that small the jordanian citizen right now. his pockets are empty

the u.s. session, the dow is still down .4%, and we saw a decline in the s&p 500 again. interestingly, consumer staples selling off quite a bit over the course of the session. the nasdaq, after flirting with no change most of the day, slightly in the green. we see strength in large-cap technology. the dollar going sideways, but really maintaining its uptrend. if you take a look at the bloomberg, without a look at the u.s. currency along with the 10 year yield, not changing much on the day. reassertion seeing of the correlation between the two. that seems to have broken down once again as the dollar continues up and yields do not. they go sideways to down, yvonne. yvonne: you see these bouts of volatility. that plays at how out into asia. the set up so far looking mixed for asian stocks. a pretty ugly day yesterday. the benchmark drifting to the lowest on these trade tensions. new zealand down .3%. aussie futures pointing to decent gains. pretty muteds today. career really has been taking the b

>> u.s. stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerging markets. >> the fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant. sydney. from we are just past 8:00 a.m. here. just past 6:00 p.m. here new york. we'll be looking at how the asked -- action -- small pullback in bonds. it is not so much about what happened but more about what did not happen. we did not get any major tweak or statement from -- tweet or statement from president trump on trade. gave the stock market a little relief. of course the nasdaq held by the rebound in tech stocks. everyone watching bank stocks after several days of declines. worsening developments in this trade tiff. not a terrible open set up for friday. just getting underway. also a little mor

the u.s.ld not sign the communique. how are we to interpret these aggravated tweets coming left, right, and center? >> it did seem hard to believe. before the summit started, trump of course called justin trudeau "indignant" and lashed out at his allies. i was at the meeting and we were preparing for a lot of fireworks. and then it turned out that trump actually seemed to really get along with people. at one point, we did not think there would be a communique at all, but by saturday, we heard there would be and of course, there was. justin trudeau said it shows we can deliver when people thought we couldn't. and it was quite shocking movie got the tweet minutes later from trump saying, "this is an insult to us, and justin trudeau is weak and meek." and so i think, you know, in the grand scheme of things, not agreeing on a communique does not change the world, but it will be very hard for the leaders of the major countries to trust that trump will commit to what he said he would. ♪ rishaad: tru

the u.s. is giving as its official justification for imposing these punitive tariffs not unfair trading practices actually but national security by proceeding under what is a fairly obscure national law rather than under standard w t o procedures isn't the u.s. ultimately thumbing its nose at its allies and perhaps at that rule based international order in general sure a bit i mean certainly trump need to react fast lead so he needed a reason in order to do to act like this i believe actually the reason is is a bit different. we have and we don't have an equivalent for the terrorists and that has to be saw for many many years we we claim to. you know the us claimed this . many years like the administration obama but also clinton george bush jr for instance they claimed this many many times and nothing happened and the w t o x quite slowly and pace years and years i didn't just talking about but then i was with what tamala took many years for a very minor thing so i believe we need some action

so often puerto rico, particularly among u.s. historians is not seen as part of u.s. history, or it falls through the cracks of latin american history or u.s. history. the puerto rican studies association is a place where it's a very vibrant interdisciplinary conversation but because of the history of puerto rico as a colony, it doesn't fit neatly into the geographical categories so it doesn't get the focus for that reason among u.s. historians. >> right now puerto rico is in the headlines as it tries to recover from an awful hurricane that basically devastated the entire island, infrastructure. so many now are leaving and coming to florida and elsewhere in the u.s. does any of that surprise you based on the history that you've researched in puerto rico? >> no. everything that we're seeing is a continuation of a legacy of the unequal status of puerto rico in relation to the u.s. federal government. it's an unincorporated territory. it has secondary status. and this is, you know, the federal response, the availability of supplies, all these things were affected precise

u.s. companies are doing very well. our focus isaid, on the u.s.u.s. economy can withstand further hiking. in contrast --s, if they are so focused on what the u.s. is doing, that means they are not trying to be the global central bank and i think that has contributed to some of the near-term weakness that you alluded to in em markets. david: the fed has hiked rates seven times already. when do we start to feel that? look at em or the strength in the dollar, we have felt it to a degree. the real question is, when does the tightening start to withdraw liquidity at a rate that the u.s. economy or the global economy can't tolerate it. so far, we haven't seen that. signaled --p has ecb has signaled it will put the qe system in the future, the bank of japan is still providing liquidity. while that tightening has begun and continues, in the netted states it is not at a point where the fed is choking off states,- in the united it is not at a point where the fed is choking off growth. typically what killed the rally was the fed hiking rates intentionally tr

products try and help the u.s. with its trade deficit and so even now it's really some of the other countries that were playing by the rules in china wasn't. love the analysis thanks for joining us pressure to be here thank you. a german commission has recommended raising the minimum wage next year from eight euros eighty four an hour to nine euros nineteen ideas to boost private consumption the german government is widely expected to ok the proposals which include a further hike in twenty twenty points have been required to pay the minimum wage in germany since twenty fifteen. stuff a national correspondent to cope about the success of the minimum wage here in germany. when you take a look around europe with then nine euros nineteen germany would be the number two in europe with a minimum wage the highest minimum wages being paid in luxembourg with eleven yours fifty five and the lowest in bulgaria with only one euro fifty seven exports are divided if the mini wage is a success story here in germany or not when yo

u.s. tariffs. trade continues to dominate concerns about markets. everybody is still wondering where this is going. you mentioned the report we should be getting at the end of the week. president trump clarifying he intends to use the committee on foreign investments in the u.s. to go after not just chinese investments and technology in the u.s. but other countries as law. yvonne: i guess darling back a little bit when it comes to the trade rhetoric. limbo on the trade fund. a modest rebound, as you mentioned. not seeing a lot of juice into the market, it is. kathleen: if it had not been for oil rebounding, we don't know who would have gotten that rebound in stocks. let's take a look at where they closed. the dow gaining 30 points. after nine straight losses managing to rebound, the s&p 500 up six points. again, led by energy producers in the nasdaq as tech companies recover a bit from their brutal selloff on monday. let's move on to major markets and see what is happening there. i just me

the u.s.overnment has asked saudi arabia and other opec producers to increase production by one million barrels a day as gasoline prices surge to their highest in three years. president trump has publicly complained about the opec policy that has helped to boost prices and train the glut. sources say it is unusual for washington to ask for a specific output hike. says iran has drawn up a tentative schedule for boosting production of uranium. the plan was outlined in a letter submitted monday and follows the call for iran's nuclear industry to be ready to resume work. the iaea said iran is sticking to uranium enrichment limits under the deal. the ecb is said to anticipate a pivotal discussion at next week's meeting and could produce a public announcement on when it intends to wind up qe. the governing council is likely to treat the gathering in lafayette as an opportunity to debate the in the bond buying. set to rungram is until september and the bank has declined to comment. global news 24 hou

companies like u.s. steel are going to have to cover it all which sounds like a good thing but these companies haven't been able to work efficiently for low prices that is why in purchaser of imports were flooding the american market in the first place so there are a lot of potential losers here i mean as we've heard time and time again a trade war will only hurt both sides does trump think he can keep things from spiraling out of control at the same time as getting what he wants. i think he's making a calculation and calculates the costs of terrorists through higher prices as less harmful than the competition with the e.u. or canada mexico china and he is also trying to live up to campaign promises he has made especially to voters in the rust belt and to industrial companies it might not make sense economically especially as the trade deficit is not necessarily going to spring that way with retaliation from so many different sides with hurt mexico and canada the us are not going to be able to export mor

the u.s. and its ally, the e.u., mexico, canada and china with the trade talks with wilbur ross, trying to come to something but really people seem to be butting heads and getting lockstep into their own positions. we have a lot to talk about. sense maybe we a have had quite a lot of patience coming from beijing around the calls of, trade war or not, the posturing that you might see by the u.s. the latest story coming out, the terrace from the u.s. -- if they are applied, talks are off. let's take a look at how the u.s. is setting up for the asian open. ramy: you can see basically green across the board. the s&p 500 up. regardless of what was happening despite the up and down and back and forth of trade tensions, it is surprising that the s&p 500 closed for the week up .5%. that was its biggest weekly rise in a month. we also see positivity from the payroll numbers for the prior month, 200 thrifty -- up 220,000. it is something we have not seen several decades area we will talk about that in a

but u.s. leaders have declared that the alliance is vital for a regional security and regional cooperation. you look at all our joint statements, you look at joint -- two plus two statements, press conferences. there's always this repetition of a comment about how the alliance is important for regional security. looking at 2015, you see the -- it talks about the indispensable role of the alliance for regional peace, security, prosperity. trump and abe have talked about the alliance as the cornerstone for regional peace and prosperity. and even back in april at the mar-a-lago joint press conference, trump said that he and abe were working on the north korean issue together. so there's this -- this idea that japan and the u.s. are engaged together, working on this. working on regional issues. and yet with north korea being the most pressing security issue in the region, japan is not actively engaged in this. so when japan looks out -- like what bruce was saying. donald? donald? you have japan be

the u.s.ession. after theming trading report saying they have paved the way for a deal with goldilocks. a 20% stake in the restructured version of noble. the house will move to the final aages of a revamped, so maybe light at the end of the tunnel. let's each more details on how we are trading. expectationsmes to of how shanghai shares may start, futures higher, but easing off that advance. slumping to as two-year low, the second worst plunge for that benchmark. tech stocks bore the brunt, sinking the most in two years. this brings the shanghai composite closer to bear market territory. yesterday's slump brings declines to 18%. in the currency space, today's fix will be keenly watched as low, plungingto a at the fastest pace as the 2015 devaluation. rishaad: the pboc bidding to calm markets down. easingould see more of the deleveraging range. the pboc said on monday it will handle the pace and intensity of the deleveraging campaign. that leaves leeway for policy tweaks. we have seen that fine-

news line from the countdown is on u.s. president donald trump north korea supreme leader kim jong un in singapore in hotels less than half a mile apart as final preparations for the historic summit are met. alexandra phenomenon is there. anything that comes from the security in. just a few hours on the ground in singapore for the president and summits between u.s. presidents don't trump and north korean leader kim jong il and. also on the program and get america describes president trump's withdrawal from the weekend's g seven joint statement as sobering and reiterates the european union's determination to retaliate against u.s. tariffs. i'm phil gale welcome to the program. preparations for tuesday's historic summit between u.s. president donald trump and north korea's supreme leader kim jong un in singapore are in full swing president trump has met with singapore's prime minister at least scieno at a working lunch if tomorrow's event happens it will be the first time a sitting u.s. president has ever met with a north kor

cars coming into the u.s. are subject to twenty five percent tariffs the u.s.car industry profits here are from a much lower ten percent that the euro believe is on ford or cadillacs coming into the e.u. and that twenty five percent tariff dates back all the way to nine hundred sixty three it was known as the chicken tax because it came in response to tires that france and west germany at the time imposed on imports of u.s. chicken just to show you that trades attention can have quite a long history and can actually be quite weird when you look at them closely at it a little earlier i spoke to york tammy's chief economist spungen frankfurt and i asked him whether the e.u. should now respond in kind to u.s. trade tariffs. i'm not so sure whether such a retaliation policy is the right approach because we voted for the u.s. administration a minute ago they fear they are treated unfairly and this is their perception and when it comes to when it comes to defense expenditure they have a point the western allies in europe they have been promising for years to raise th

because u.s. banks were unwilling to convert the funds, despite requests from the obama administration, ultimately the bank of moscot was unable to affect wait the conversation using the u.s. dollar. the u.s. state department said that they converted it into euros using european banks. the only reason the transaction wasn't executed is because the two u.s. banks refused dpite pressure even though the dmims asked them to help -- administration asked them to convert the money. after the treasury department issued the license, the obama administration maintained the false notion that it had not provided iran access to the u.s. financial system. on april 5, 2016, ambassador thomas shoon said, there is no exchange of dollarse the u.s. financial system. we have not allowed an access to our larger financial system. end quote. on may 25, 2016, the acting under secretary of treasury for terrorism and financial intelligence said, quote, buty y what i said here today and i know he was looking forward to me b

either the u.s.ing to weaken, and there doesn't seem to be many signs of that, or the rest of the world is going to pick up. it is hard to say, but our bias is that after euphoria in europe and now depression in europe, we'll see some kind of rebound in europe in particular. turning to china, this week's data was on the weak side, but going back the week before, we had really good export and import numbers from china. if there is a problem in china, they are the canary in the coal mine, and it is relatively stable. look, there are some issues, started fundamentally by the 3% 10 year yield and attraction of capital, and some idiosyncratic issues within certain countries, but generally, in a risk off environment in em, you want to look to put money in and not take it out. jonathan: i want to get to the leverage story in a moment. colin robertson alongside andrea di censo and alan higgins. in the markets this week, a check on the treasuries. good --ns, 30's, solid solid. front end up five basis points t

tariffs on u.s. products are taking other measures the german steel association fears that it could lead to even more trade barriers and further economic damage. well for more on this we're joined by our correspondent teri schultz ate at brussels now terry they trade commission to see a bunch of them has said that when it comes to america first it will be met with europe united well it will block now be an agreement as to how to respond. so far it looks like it will be helena you know some of these measures were already teed up before today in the expectation that trump would follow through on these threats as we know the complaint has been lodged at the w t o already and the lists have already been drawn up of the u.s. products that will be targeted and all those left now is for member states to agree on which one of them will be one of them which ones of them will be selected for the important duties and so there could be some differences of opinion and we've seen a reaction that ranges from very s

the china u.s. about face from a couple of days ago when it says it's when it said it was going to go ahead and impose tariffs on chinese goods when it had said that they were going to put this on hold so it will leave u.s. officials as well as chinese officials without much certainty that what they work on this weekend is going to have much effect florence thank you. now the israeli military says its jets have targeted ten sites belonging to hamas in the gaza strip and just two munition manufacturing and storage sites were hit earlier israel said it intercepted at least one rocket fired from gaza over the city of steroids rocket sarin have been activated in southern israeli areas bordering the gaza strip. well earlier on saturday thousands of people attended the funeral of a young palestinian medics shot dead by israeli forces at the gaza border on friday twenty one year old on the job and volunteering since the weekly protest began in march but since then israeli soldiers have killed at least one

the u.s. is blasting china for what it called aggressive military actions in the south china sea speaking at an international security conference secretary of defense james mattis accused beijing of using pressure tactics on its neighbors despite trying to claim to the contrary the placement of these weapon systems is tied directly to military use for the purposes of intimidation and we're. trying to militarization of the spratleys it's also in direct contradiction to president twenty fifteen public pressure interest in the white house rose garden that they would not go to resolutions on weeks of violence and gaza's border with israel have failed at the un security council since march israeli soldiers have shot dead at least one hundred twenty one palestinians who have been protesting for the rights to return us block to kuwait backed resolution calling for the protection of palestinians and then failed to get support for its resolution condemning hamas for the un raced. egypt's president of t

u.s. is isolating itself and that is where a lot of people are going to be looking at the differences between these two summits how they're approaching the world it's different in terms of its style and its substance and this is very important important as the world is wondering what the shape will be a lot of businesses are not putting their investments in because they're not certain of the future this is going to be really a big counterpoint. a one time shot of peace is how donald trump is describing what will be the first of a meeting between a serving u.s. president and the north korean head of state on cheese day trump has left the g seven talks in canada as we mentioned and is currently on his way to singapore where his summit with kim jong un will take place as it ministration is hoping the talks will begin a process that eventually leads to kim ending his nuclear program. kim jong un wants to do something great for his people and he has that opportunity and he won't have that oppor

the u.s. is choosing from, a lot of them are intermediate inputs. the peterson institute said about 85% where things that go into things that are manufactured, so the pain could be broadly felt. that is even without china imposing their own retaliatory tariffs. the chinese foreign ministry today said, yes, we will strike back. alix: it was a justin carr because and commodities, oil getting hit, but it is actually soft commodities like soybeans -- >> you do know to be a soybean farmer. alix: no, you do not. blue, soybeans. features moving all over. >> it depends where you are. if you are in brazil, it could be a good day for you. for have been climbing, so china it might be more expensive for them to buy soybeans from brazil in lieu of the united states, so an interesting dynamic. u.s. farmers are in the crosshairs. thet is a mistake administration is making in thinking that china pays the tariffs. the company's antenna do not pay the tariffs, the consumers who pay the tariffs pay the added pri

the u.s. aircraft is a long way to fly, it is very expensive to fly an aircraft six hours over the korean peninsula. maybe there are elements of the exercises he has picked up on. but it is pretty vague at this point and i gather that the koreanovernment were surprised so hopefully these details will come. what is your reaction? >> i would say a step forward but at the same time, where are we? i think two people, mr. trump and mr. kim, made an agreement from which we can go anywhere. i have already four different scenarios in my mind. one is ok scenario in which north korea wiake the ceary stepfor denuclearization. i don't think they will denuclearize quickly and comprehensively. but they can take steps gradually. the u.s. and north korea can decide to improve directions and it seems that kim jong-un is actually very interested in his country's economy. the second scenario i have is a bad scenario in which we gback to crisis situation. trump expects a lot from north korea and if north korea ca

the u.s. says north korea will only get sanctions relief after takes verifiable and irreversible steps to denuclearization defense secretary james mattis was speaking on the sidelines of a defense conference in singapore he made his south korean and chinese japanese counterparts to discuss the upcoming summit between u.s. president donald trump and north korean leader kim jong un. to. be very aware of the good of. all. of. this part of the israeli military says its jets have targeted fifteen sites belonging to hamas in the gaza strip it says two weapons manufacturing and storage sites were hit earlier israel said it intercepted three rockets fired from gaza sirens were activated in southern israeli areas bordering the gaza strip. and just thirty protests in jordan of into the fourth day in the biggest demonstration against the government in years riots police used tear gas to break up a rally near the prime minister's office in amman protesters are calling for the cabinets resignation after mi