the u.s. don't think things are easy in our country. amy: this comes after a 36-year-old father from salvador and his seven-year-old son drowned while attempting to cross into mexico from guatemala. in related news, asylum seekers trapped in the mexican border of city of tijuana led a protest monday denouncing the biden administration's use of title 42, the trump era pandemic quarter that has been used to block over 2 million people arriving at the u.s.-mexico border seeking refugee status. a federal judge on friday ordered the biden administration to continue enforcing the policy. protesters insist they have a right under international law to claim asylum. >> for us, title 42 is the dream of many because asylum is a right and title 42 takes that right away from us. >> we have been here for almost a year. we have been in the shelter for five months. we have been in a resident apartment for five more months. it is very difficult. we hope things and in the u.s. will be different. here in tijuana

the u.s. joint force from our role is to continue support to the ukrainian military as long as directed and we have the capability to do so. all of this is important because the ukrainian military people are fighting not only for their country but fighting for principles as the secretary mentioned about the rules-based international order that affects all of us. the secretary mentioned the progress we made at ram stein a month ago was a follow-on to today, was a predecessor to today. united states military comprises one of the key components of u.s. national power, diplomatic, economic, informational, and military. our task is to protect the homeland and stand ready to defeat the enemies of our country. we stand ready as part of a whole government approach to the united states and alliance approach and partner effort you saw this morning. last fall the united states military had about 78,000 army/navy, air force. in a few short months we have bolstered that by 30%. this morning we have roughly

also, u.s. china relations, we are the likes of schmidt saying it is about technology, china is investing a lot in ai and that is leaving the u.s. about 10 years behind. we get inside the u.s. china relations, from the founder -- and that former u.s. ambassador to singapore, also from a u.s. undersecretary of commerce. it is a big week. with the rba and the fed both expected to raise rates in their respective meetings. let's bring in our global economics policy editor on what to expect with australia's decision just hours away. to hike or not to hike, that is the question, what is driving the rba? >> you put one more monkey wrench in the works. they are looking at high inflation, but also elections less than three weeks now. can you really make a big move, the first rate hike since early 2010s, at this point? here is what people are expecting, it is kind of all over the map. there are of 30 economists surveyed by bloomberg to see a 15 basis point move. you get the rate hike line, you get up to 2

it is not just u.s. sanctions, but u.s. leadership with our traditional partners in the global community. we have provided humanitarian assistance for those impacted by this tragedy, including displaced individuals and refugees. we have provided that humanitarian aid and will continue to provide that humanitarian assistance. it is helping to accumulate evidence to pursue war crimes against perpetrators of these atrocities, and we are involved in that come as we should become a with the international community. and we will continue to do exactly that. and we will provide the necessary equipment for ukrainians to defend themselves. the priority now is for the air defense systems, because we know russia is using the air to attack the ukrainian people. it will also be antitank, because they are still using tanks in ukraine itself. it will be conventional weapons and ammunition. all of that costs money and all of that needs to be funded so, the president made his request thursday, yesterday, with the amount you referred to, $20

u.s.eveloping countries. supported by the john d. and catherine t. macarthur foundation. committed to building a more just, verdant, and peaceful world. and with the ongoing support of these institutions -- this program was made possible by the corporation for public broadcasting and by contributions from pele like you. thank you. judy: results are still rolling in from last nights's primary elections in five states. north carolina republican representative madison cawthorn was ousted by state senator chuck edwards. the race has yet to be called in pennsylvania's republican u.s. senate contest. dr. oz is locked in a dead heat with a former hedge fund manager. on the democratic side, progressive john federman easily defeated a moderate. we will have more on all of the primary results right after the news summary. stocks took a plunge on wall street today over a disappointing earnings reports from target and lingering suit -- concerned about inflation. it is the biggest single day loss since

the u.s. and canada to help the u.s. and other companies best trim russian oil. this is just over two hours. let me, first of all, welcome all of our guests. we are so delighted to have you all know want to thank you again for the gracious hospitality that was shown to me when i visited with you all and the weather was all canadian. [laughs] i also enjoy that, we will get started, today i want to welcome our friends from canada to continue the committees very important conversation about how we pursue two critical goals. ensuring energy security and addressing climate change. these two goals are not mutually exclusive and it is imperative that we address both. we all agree that putin has used russia's oil and gas resources and a weapon to inflict terrible pain on the ukrainian people and on your up. other energy rich autocracies are taking note. we will be folds to think they wouldn't use similar playbooks by leveraging china's control over global mineral supply chance. putin is bringing the f

the u.s. economy. watch "washington journal" live at 7:00 eastern on c-span or on c-span now, our free mobile app. join the discussion with your phone calls, facebook comments, and tweets. defense secretary lloyd austin said there was no change to the one china policy when asked about president biden's comments about defending taiwan. sec. austin: good afternoon, everybody. we had a highly constructive morning at the second meeting of the ukraine defense contact group. i am delighted we were joined virtually by more than 40 ministers and chiefs of defense. i am glad the contact group once again got to speak with ukraine's ministry of defense, my good friend. we are also joined by the deputy commander in chief of ukraine's armed forces and by ukraine's defense intelligence representative. i am also proud and pleased to see several new countries attended today's meeting of the group, including austria, bosnia-herzegovina, columbia, ireland, and kosovo. we are delighted to have them aboard and we

let's speak with u.s.e kathleen ty who -- joins us from china. >> i gave a speech last october describing the biden administrations bilaterally in the u.s.-china trade and economic relationship and since then we have been engaged in conversations with china on china's performance under the phase one commitments. we also articulated the need for the united states to champion the interest of american workers on the american economy and continued to push for and fight for a level playing field in the competition with china. so what you have now is a very deliberate approach by the biden administration in our economic engagement in asia. i am delighted to be in tokyo with the president. i came to tokyo from bangkok where there were two days of trade meetings. the biden administration's commitment to this region is clear and is being demonstrated now by our physical presence here. shery: did the conversations with china include the prospect of lifting the tariffs on chinese imports? and would that be contingent

the chief u.s. economist at rbc said if you're waiting for a broad-based extension from companies who believe it's breaking down, you're going to be late. we start to see the overall impact of rising pressures on the consumer and of course on the retailer. dani: juliette saly, really fantastic round up on the u.s. consumer movement there. jp morgan shareholders have rejected a paper for -- pay proposal for ceo jamie dimon. it wasn't that long ago that jamie dimon got the pay package approve that was pretty hefty. why the change this time around? >> i think they've just gone a little bit too far. the board was concerned that maybe jamie dimon should retire at 65. so they sweeten the pot, bringing his total package to $84 million. the proxy firms both recommended investors rejected package and they did exactly that, resoundingly so. the bank is really going to have to consider their next step here , it's not a binding decision at all, but it is an embarrassment for date -- for jamie dimon. manus: i'm

floor proceedings and hearings from u.s. congress, white house events, the courts, campaigns and more. plus, analysis of the world of politics with our informative podcasts. c-span now is available at the apple store and google play. downloaded for free today. c-span now. your front-row seat to washington. anytime, anywhere. during his trip to asia president biden toward a samsung plant in south korea that makes semiconductors and talked about the importance of global supply chain resiliency and the indo pacific's critical role in the international economy. the president will also make a stop in japan. this is his first visit to a this -- to asia since becoming president. we look forward to ways to take the alliance of the republican korea -- republic of korea and the u.s. to greater heights. vice chairman, thank you for welcoming us to this semiconductor facility. this is an auspicious start to my visit because it is emblematic of future cooperation and innovation that our nations can and must build together. i am joined by

the australian dollar also got a big lift. 1.4% against the u.s. dollar. the u.s. dollar has been pushing all the other currencies around because after this move by the rba, the fed is still expected to be far more -- than most others. >> garfield, thank you very much. garfield reynolds giving us the latest on tomorrow's fed rate decision. the latest on asia markets. david, starting where you are in hong kong seems like you're going to be able to go to pools and beaches. >> yes, from thursday and two weeks after that, i'm a club person. i would be at a club until 2:00 a.m. by the way, i'm back in the studio, really underscores the story. just coming out of the lunch break now. the bench marks trading at 1.5%. it was a topsy-turvy session. hang seng index, at the start of the afternoon session. the reason i had the cost index up there, it was a 14-year high. let's talk about alibaba. >> my bedtime is 9:00 p.m. i have no idea what you're talking about. alibaba. talk us through the volatility there. >> yeah, a report out today, alibaba's home headquarters, the city, a

u.s. secretary of state antony blinken vows to influence beijing, saying its regime is the most serious challenge to the international order. text turnaround. alibaba and baidu jump after a beet on earnings, giving asian stocks a much-needed boost. plus, staging a comeback. signs of robust consumer spending give markets a risk on mood with u.s. stocks poised for their first week in the green in two months. francine: the futures are kind of on the fence right now when you look at the ftse 100. futures are pretty much flat. dax futures are gaining 0.2%. i am freshly back from davos. we spoke to chief executives, the ones that have to do with supply chains, they are extremely worried about the next 12 months and see things get better only when we work through these supply shortages. tom: great to have you back. when it comes to the picture, we have the economic data out of china, industrial production slumping to the lowest level since 2020. the premier and president xi jinping seem to be at

the u.s. policy on the issue has not changed. while those comments come shortly after you wrap up a meeting with prime minister kishida. moments ago, mr. biden is counting china's growing influence in asia, while the plan is aimed at a partnership, it is hoping to make the supply chain more resilient. biden is partnering with u.s., japan and south korea have signed on so far. while cnn is covering this story from every angle. we have kevin in tokyo with the latest developments. let me start off with that economic plan. we heard from prime minister modi of india talking about his vision for this plan. what is standing out for you so far? >> reporter: well, this is really president biden's attempt to build a collective block, an economic sphere to counter china and the region. the u.s. had been without such a plan since president trump backed out of the tcp. he says he has 12 other nations plus the united states to join this indo pacific economic frame that will layout the rules of the road, in

the u.s. session losses were pronounced within the tech space, particularly within nasdaq, ending lower around 2%. the s&p lower by .8%. the markets concerns have shifted from inflation to recession. we are seeing a repricing in terms of the fed funds rate, it had previously been above 3%, you are starting to see that reflected in the bond space. yields moving lower, particularly the two year, 16 basis points lower. in terms of gains you are seeing in the european open, the spanish ibex up more than 1%. the ftse 100 is up .6%, the cac 40 in similar territory, up .7%. we will continue to listen for more voices from the ecb as the debate heats up, madame lagarde has said we will be out of negative territory by the third quarter, that is not enough for some thoughts. the ftse in italy gaining .9%. we look ahead to the futures on a day when we get fomc minutes, and any more clarity on the direction of travel for the federal reserve. futures looking at gains of .8% for the tech heavy nasdaq. the u.

a number of u.s. refineries are configured for canadian heavy crude, an alternative to sources like venezuela. canada is also a leading supplier of uranium and critical minerals to the u.s. including those used in advanced batteries such as cobalt, graphite. the u.s.-canada energy partnership is strong, but also not without its challenges. i have not been shy expressing my frustration with the biden administration canceling the keystone xl pipeline and in light of putin's war in ukraine and the global energy price surge, i think a lot of us wish that project had moved forward today. but to be clear i am not holding the hearing to relitigate the past. we are here to advance a stronger and cleaner u.s.-canada partnership for the future. our allies and trading partners in europe are begging for north american oil and gas to offset their reliance on russian. there is no reason we should not be able to fill that void and do it cleaner than the alternatives. that is because american-owned gas is cleaner tha

the u.s. and canada trade, more than two billion dollars daily. that is a two billion dollars daily. there is no better symbol of our energy relationships in our interconnected, which is seamless and enter growth for the reliable electricity, citizens, and industries in both of our countries depend on it. and, we are here for each other during these times of need. electricity workers from both the u.s. and canada regularly crossed the border and extreme weather events to help get the power back on. that is when mother nature calls. canada has wrapped up all exports to the u.s. to offset russian crude and member of our committees led legislation to cut off the energy forces fuel in putin's war machine. we know that a number of u.s. refineries are running on heavy crude and canadian heavy crude runs an alternative to sources like venezuela, which we have sanctioned due to the anti democratic actions. canada is also a leading supplier of uranium, and critical minerals to the u.s.. including those

u.s. headed for a recession? >>> the baby formula shortage getting worse. 45% of the nation's stock sold out when the first flights bringing formula from europe to the u.s. are expected to take off >>> severe weather the tornado strike in michigan and the record heat spreading across much of the eastern u.s. >>> the first funeral for one of the ten victims of the buffalo supermarket shooting >>> new york city investigating a possible case of monkeypox after massachusetts confirmed the first u.s. case of the year, the growing global spread >>> and inspiring america. the fifth grader giving other kids just like her a reason to smile. >> announcer: this is nbc "nightly news" with lester holt >>> good evening there is breaking news as we come on the air tonight. a federal judge has just blocked the biden administration's plans to lift covid-related restrictions at the southern u.s. border the trump-era rule known as title 42 was set to end on monday but will now remain in place. it allows bord

biden said the u.s. remains fully committed to supporting japan. listen. >> the u.s. japanese alliance has long been the corner stone of peace and prosperity. and the united states remains fully committed to japanese japan defense. and we will face the challenges today and the future together. >> now, while much of the focus in south korea of course was on the rising threat from north korea, in japan all eyes on china growing economic and military footprint. in the coming hours he is expected to unvail the administration new economic frame work for the region. the goal, boosting ties between the u.s. and asia pacific allies to counter china. president biden will bring a similar message to a meeting of so called quad alliance on tuesday. where he'll speak with leaders from japan, india and australia. cnn is covering this on the ground with our kevin and blake. standing by in tokyo with the latest developments as we await the press conference from president biden and prime minister. kevin, this is going to be quite a balancing act for the president. he obviously wants t

the u.s.tions, actually physically moving people out f areas they decided were key. what do we know about where the focus is? i know we hear a lot about the east, but is it that kirson area? is it odessa? where should we be focusing the most? >> reporter: in the east. i think, and the pentagon thinks, that the strikes on odessa are just a diversionary tactic. nobody believes that russia has the troops to go and take odessa. and i think the russians will be very leery of putting ships in closer to make an amphibious assault on odessa simply because that's how they lost their flagship in moscow, when it was hit by a ukrainian anti-ship missile. >> brennan: we've seen a lot of images of the weapons going into ukraine, not just from the u.s., but from the u.k., from poland. they have a lot of equipment going on, and they have some u.s. intelligence as well. this looks more and more like the west is becoming party to this conflict in some way. >> reporter: they have a lot of u.s. intelligence. the

the u.s. constitution, not to any foreign nation and no matter how sympathetic the cause, my oath of office is to the national security of the united states of america. we cannot save ukraine by dooming the u.s. economy. in march, inflation hit a 40-year high. gasoline alone is up 48%, and energy prices are up 32% over the last year. food prices have increased by nearly 9%. used vehicle prices are up 35% for the year, and new vehicle prices have increased 12% or more. yes, inflation doesn't just come out of nowhere. it comes from deficit spending. the united states spent nearly $5 trillion on covid-19 bailouts, leading to one of the highest and most sustained levels of inflation in u.s. history. americans are feeling the pain, and congress seems intent only on adding to that pain by shoveling more money out the door as fast as they can. this bill under consideration would spend $40 billion. this is the second spending bill for ukraine in two months, and this bill is three times larger than the

the u.s. president says he will intervene if china invades taiwan, speaking alongside japan's kishida, the leaders present a united front against russia. the world economic forum in davos kicks off, stay tuned for our lineup of interviews including alok sharma, cop26 president. potentially some debt buying within these markets given the s&p closed out friday while avoiding that bar market. the context is seven straight weeks of declines for the s&p 500, the longest stint for over two decades. when it comes to china, a couple factors to weigh out. one is record case numbers in beijing, whether the capital ends up in lot down. remarks from joe biden suggesting tariffs on china are under consideration. how the markets are opening, the spanish ibex up 1.2%. the ftse 100 gaining 1%, we will hear from the bank of england governor today. and that speakers as well -- fed speakers amid concerns around recession. the cac 40 gaining .9% for france. let's see how things are playing out across assets. we c

u.s.eloping countrieon the web. supported by t john d. and cat herine t. macarthur foundation committed to building a more just foundation. more information as macfound.or g. and with the ongoing support of these institutions. this program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. >> we'll return to the full program after the latest headlines. results are still rolling in from last night's primary elections in five states. in north carolina incumbent republican representative madison cawthorn was ousted by chuck edwards. meanwhile, the race has yet to be called in pennsylvania's republican u.s. senate contest. celebrity surgeon dr. oz is locked in a dead heat with a former hedge fund manager david mccormick. more on the results after this summary. stocks took a plunge on wall street today over a disappointing earnings report from target -- and concerns about inflation or the biggest single day los

haidi: u.s. stocks closing your session highs as investors way jay powell's promise to tame inflation even if it brings some pain. chinese companies listed in the u.s. get a boost after beijing's public show of support for internet platforms. lust the australian election into the home stretch. prime minister scott morrison's government is closing the gap. shery: this was the picture across wall street. take a look at u.s. futures at the moment because we had the s&p 500 finishing at a one-week high. we had that solid number when it came to consumer spending, but also factory production rising at a solid pace for a third month. see u.s. futures extending those gains up .2%. we had stocks falling briefly to session lows in morning trading. we heard new york city raised the covid-19 alert. that took markets for a ride but we got treasury yields climbing. the curve flattening after the federal reserve chair powell said he won't hesitate to tighten above neutral. oil also gaining ground after it fell

you have a u.s.ernor trying to shut down a pipeline that, for six decades, safely delivered over half a million barrels a day of canadian energy to the upper midwest to refineries in ohio, pennsylvania, detroit airport that shut down without the aviation fuel. the upper michigan peninsula would not be able to heat homes without the propane off that line. while the u.s. is facing an energy crisis, wise with the u.s. government not come on-site with canada and alberta and tell the governor of michigan, work with them on the new, safe, subterranean pipeline to replace the one operating for 60 years. jon: we will watch to see where the conversation goes. before we let you go, as alberta's economy is rebounding your leadership is on the line. we are awaiting the results for the review for your united conservative party. what do you think happens? do you think you will win that? jason: i am optimistic. i have been around alberta the last couple of months since we dropped covid restrictions and i am getting

semiconductors coming back to the u.s..erally speaking i don't think there will be a wholesale change. >> i'm genuinely googling german romantic novels now. [laughter] guy: i haven't read them. but they do exist is my point is what i'm trying to say prayed the point about deglobalization is that it will likely be inflationary. you talk about comparative advantage, that comparative advantage leads to lower cost and lower inflation rates going forward. if we revert that it will be higher inflation. he's talking about the fact we are trying to fight the war the wrong way right now. we have a supply-side problem with the fed is raising rates. so if we are using the wrong tools right now, what will be the implication of that? >> i think inflation is a near-term problem. being able to hold sales and onshore your supply is a multiyear process. in the u.s. it will take years to build. so i think the talk of deglobalization is more so a political point. we need to move to these more flexible and have more good jobs onshore. but the

the u.s. and our allies have hit russia, putin and the oligarchs with the most powerful sanctions in history. it's not just about yanking away super-yachts and private jets. putin is now the head of a pariah state. the senate and my colleague, senator crapo and i, are working hard to designate russia as a pariah state by revoking its permanent normal trade relations status. our country is showing russia that taking this abusive totalitarian road is a bad bet. the u.s. and our allies must prove the same to china. china's government is a human-rights abusing, jobs- and tech-stealing behemoth at the head of an economic superpower. one of my top concerns about the chinese government's economic model is censorship. when the internet took off, american innovators were first out of the gate with big ideas. the chinese government responded by using its great firewall to block those companies, and allowing chinese firms to rip off their ideas instead of -- ideas. even worse, chinese tech comes with chi

paul: u.s.roduction is not reacting to high prices, so a lot of our normal elasticities are simply not there, and the other key one is that coal prices are very high and coal inventories are very low. so the u.s. price has gone to $8.50, btu at a 50 year high. the reason obviously is europe is cutting off russian gas, and as a result they have to import as much as they can. they were dependent on the spot market, so they don't have long-term contracts, and as a result they are having to buy lng from a buyer, from someone who had already bought. tom: put it into scale, it is now eight, and mr. sankey said we should enjoy $20. let's look at the united in the man united states, a gallon of gas. i understand jon drives a little car over there, but it is up 26% to united kingdom $5.79. you say the profits are out there for big oil like you have never seen in 30 years. it goes back to juergen and the prize, the whole thing. what is a gallon of gauze going -- a gallon of gas going to cost in three to f

if i just look at the u.s.conomy, i think the fed could very easily get back to where it was in 20 18 without causing much command. morgan stanley is looking for the fed to go higher and it is appropriate at this stage. when you broaden the lens and look outside of the united states, that is where the waters get more money. the ultimately u.s. economy does operate more on an island in other parts of the world. we get to see what inspires -- transpires with china and what is happening in europe then we will be in a much better place to know, does the fed have to go into restrictive policy territory or not. kriti: i feel that you hit on the key point that the u.s. does operate on this island. it is interesting you talk about the recession but it's almost of the feeling that a recession is in the cards for the united states unless the fed did something out of the ordinary. europe and china, export picture inflationary picture particularly out of europe is concerning. i am curious how much of that can drag the unit

it was u.s. army europe ask, it was critically augmented by the u.s. navy and naval forces europe and air force europe as well. it had a huge effect, a huge positive effect. on the back of that we have increased activities with our albanian allies significantly. the addition of it based on there is an example. if confirmed, i will pay attention to that. with our allies in the balkans, that is important. >> rates. to stay with the theme of partnerships, i am proud to represent the michigan national guard state ships in latvia as well as liberia, two programs i expect you know well given her position as commander of the u.s. army in europe and africa. every commander i have talked to gooding general walters has praised partnership program and my question for you is, if confirmed as the commander of the most powerful alliance of the world, how will you leverage the national guard bureau's programs to achieve the objective? >> in my current role, we use these partnership programs every day and if i am confirmed he will be able to add me to the list of comm

according to u.s. officials, u.s.nce sharing help helped ukraine to carry out the missile strike that sunk the moskva, the flagship of the russian fleet. -- about a ship sailing in the black sea south of odessa, u.s. officials told nbc news. the u.s. identified as the moskva, officials said, and helped confirm its location, after which the ukrainians targeted the ship. tonight, the new york times is also independently confirmed that report. so, what does this reporting mean for the ongoing conflict in ukraine, and how should we interpret this response that it is generated within our own government? joining us now is the new york times national security reporter julian barnes, who's the lead byline on that story about u.s. intelligence been used to target u.s. generals. russian generals. joel, and thank you for joining us tonight. i've ask you, you've been doing this for a long, time you report on these things, sometimes the government doesn't like what the press reports on stuff. this has had an unusually strong feeli

of of u.s. engagement in the international order of the indo pacific, we want the united states to be engaged from the economic perspective as well. it remains unchanged. we think it is desirable for the united states to return to the gpp. so, japan hopes to see u.s. come back to the gpp. during the meeting, i directly communicated our hopes to the president. i will not make any further detailed comment since it pertains to the diplomatic exchanges. finally, i invite questions from the u.s. press. >> thank you so much. i have a question for the prime minister, but first, to you, mr. president. we are dealing with one global pandemic, you said yesterday that monkeypox is something that everyone should be concerned about. there are a few confirmed cases in the u.s., and some countries are imposing 21 day quarantines for people who are infected or exposed. should americans expect something similar? pres. biden: i do not think so. we have had monkeypox in larger numbers in the past. we have vaccines

the alliance between the u.s.nd japan has grown stronger, deeper and more capable as we work together to take on the challenges just as important as the opportunities of our rapidly changing world. a great example of this, we view japan's lunar rover, just after lunch. a symbol of how our space cooperation is taking off, looking toward the moon and mars. i'm excited of the work we will do together on the gateway station around the moon and forward to the first japanese astronaut joining us on the mission to the lunar surface under the artemis program. tomorrow we will meet with our follow -- fellow partners, australia and india, for our fourth leaders summit, and second time meeting together in person. the quad is showing the world that cooperation among democracies can get big things done, and i'm grateful for your leadership. thank you for bringing us all together again to keep driving our progress as we advance a positive vision for the future of the into pacific region. -- indo pacific region. today we made se

the u.s.a very tight labor market. wages continuing to increase by large amounts in the past year, given the tightness of the markets. perhaps we may see some relief, which is great news for the federal reserve in the sense that this would bring down those inflation numbers, the worst in 40 years. recent surveys across the country showing that companies are becoming more cautious with their cash. this week we will be watching for payroll numbers, which are key, likely to show the smallest increase in just over a year. we will see how this affects markets with stocks already rallying. investors wondering if the force of this year's collapses -- the worst of this year's collapse is over. andrea, i put it into context earlier in the show that we are still seeing the s&p 500 down 13%. finally could we see capitulation in the markets? are we near the bottom? >> that is a really good question. to some extent, this is a question that was bound to come up, after that 30% drop in the start of the year,

u.s. trade representative, katherine tai, testified at the biden administration's trade policies with russia and china. the senate finance committee hearing is a little over two and a half hours. >> committee will come to order. today, we are focused on russia and china because those are the big national security and economic developments in our world. there are governments, russia and china, are united and putting a barriers to american values in our products. since putin launched his invasion of ukraine, the united states and our allies have hit russia, putin and the oligarchs with the most powerful sanctions in history. it's not just about inking away super yachts and private jets. putin is now the head of a pariah state. the senate and my colleagues and -- the ranking member are working very hard to formerly designate rushes as a pariah stable revoking permanent normal trade relations. our country is showing russia that taking this abusive totalitarian road is a bad bet. the united sta

u.s.resident joe biden moves on to japan after wrapping up his visit to south korea. we're live in tokyo with the latest. >>> and russia's war leaves its neighbors in ruins. bringing you the latest from ukraine. and i'll speak to one ukrainian parliament of rebuilding the infrastructure. >>> and the much needed baby formula is on its way to the united states. we'll have a live report from where it was shipped. this is cnn. >>> live from cnn center, this is "cnn newsroom." with kim brunhuber. >>> u.s. president joe biden has arrived in japan after a three-day visit to south korea. air force one landed at the air base near tokyo, an hour ago to visit biden's first trip to asia as commander in chief. before leaving seoul, biden met the leader of hyundai. where he's tried to put focus on bolstering's america's security ties. the shadow of potential conflict is never far away. on saturday, the u.s. announced plans to expand military drills in response to north korea's nuclear threat. and how it

>> u.s. south korean officials have warned that they could be expecting -- instruction from north korea. they're prepare for the possibility that kim jong-un could have a weapons test while president biden is visiting. that would be highly unusual, but at the same time north korea has carried out 16 missile tests this year presumably part of the push to build pressure for what he wants to get which is to have sanctions lifted and to have north korea recognized as a nuclear state. both of which the u.s. is not prepared to accept. that may happen while mr. biden is there. no doubt the weapons program will be a topic of discussion and perhaps the covert outbreak because there is a covert outbreak at the moment. cases from zero to 2 million in one week in north korea. >> china is always the elephant in the room. the u.s. would like to counter some of the rising power and influee. what is joe biden able to bring to the table? >> security assurances. south korea and japan were rattled by donald tru

haidi: the april u.s.ergy focus now, does that change things depending about we see with policy trajectory? kathleen: i asked about an hour ago what is the meaning of the jobs report? it is about the strength of the economy and inflation? that is an important issue. yesterday, jay powell said the fed won't go higher to go above the neutral rights. but right now, he is expecting the labor market -- he says it is extremely tight end he thinks job creation is going to slow. to that extent, the april jobs report is expected to show payrolls up 380,000. they were 480 1000 -- they were 431,000 the month before. the labor report is expected to complicate things because it falls from 3.6 percent to an even lower 3.5%. the idea is that unemployment is so low in the labor market so tight, you will see earnings rising. earnings were up 5.6% in march and 5.2% the month before. it is ironic that, if anything, the fed is hoping they look healthy, but not too strong. haidi: goldilocks, right? kathleen, our bloomberg glob

u.s. futures, markets closed on monday for memorial weekend. we are seeing some upside with the nasdaq 100 getting 0.2% after the s&p 500 wiped out all of its losses for the month of may. despite this positive sentiment, we see concerns over growth. we were concerned about inflation, now we are concerned about growth. those fears have been found in the treasury space. we are headed for the first monthly gain for treasuries since november, the tender yield falling towards that to 70 level. we see upside for oil and asian session. after five weeks of gains, we are seeing tight supplies of fuel. in the u.s., it is summer driving season. with more positivity, a lot of people asking for this capitulation we are starting to see. haidi: the sustainability of this. let's get more from our trust asset asia reporter -- cross asset asia reporter. how durable is this rebound? is there a sense that we are somewhere close to the bottom? >> that is right, and not surprising. you have seen markets fall a

shery: the u.s. takes aim at xi jinping promising to influence china's behavior by shaping the world around. haidi:haidi: a risk on mood on wall street. shery: broadcom steals one of the biggest tech deals in history with the acquisition of vmware. u.s. futures under pressure after the s&p 500 extended gains. we have solid retail earnings and falling mortgage rates boosting sentiment. dollar general forecasting better performance later this year. we have two stocks soaring. what a relief from last week when we had walmart and target. treasuries mixed. the dollar consolidating around april lows. we continue to hold onto a little bit of gains. u.s. fuel stockpiles tightened so that helped prices. it's what was happening around chinese earnings boosting the broader market. the golden dragon index gaining more than 7%. the biggest day in over two weeks. alibaba gained 15%, the biggest day in over two months given that the revenue and profit also beat estimates. a similar picture for baidu. haidi: could t

taking a look at u.s. futures, u.s.positive on that front. given what we have seen in the eu, failing to come up with a compromise when it comes to that ban on russian oil. oil markets are seeing geopolitical risk. china waning when it comes to covid cases, that's helping a lot of risk sentiment not just in oil prices, the dollar is softer as well. we are seeing strength in the currency, 66681. the mexican peso is up levels we have not seen since march of 2020. it is a risk on monday. haslinda: it is. take a look at the hang seng, up 2% led by tech. that is it for bloomberg markets: asia. this is bloomberg. [applause] ♪

she is the former u.s. attorney for the northern district of texas and was only the third female u.s. attorney in the district's 142 year history. in that role, she chaired the attorney general advisory group, a group of 15 u.s. attorneys selected by the attorney general to advise on national priority. she was only the eighth female to serve in that capacity. to aaron's leftist richard donoghue who currently practices at a major law firm in new york city and practices in the area of corporate -- and white-collar defense. rich served as the u.s. attorney in the eastern district of new york and served as the principal associate deputy general in the department of justice answered for a number of years as an army jack officer whose duties included -- prosecutor and defense counsel. thank you for joining us. since our time is short, i thought we would get right into it. one of the questions i have and i think many people have is, what can u.s. attorneys do to pick up the slack in many of these cities where rogu

the u.s.dent is holding talks with his newly inaugurated south korean counterpart on his first trip to asia as commander in chief. last hour joe biden participated in a wreath-laying ceremony at the south korean national cemetery. before arriving at the korean ministry of national defense for his meeting with yoon seok-youl. we're expecting them to give their remarks soon. on friday mr. biden says the future of the world will be written in asia, and the region will prove to be critical in the years and decades to come. >> we're standing on a reflection point in history where the decisions we make today will have far-reaching impacts on the world we leave to our children tomorrow. >> now, the threat posed by pyongyang is expected to be a main focus of mr. biden's bilateral meeting with south korea's leader. we've also learned that beijing is holding military drills in the south china sea during this visit. the u.s. says pyongyang could conduct a missile test while the president is there, but ev