u.s.-canada issues can be worked out and central is the issue of protections for dairy farmers, u.s. does not like it and president trump has spoken out about it several times. to will.s. asks canada back some protections for its dairy farmers, that will be a issue for canada to look into. romaine: we hear a lot about canada's dairy protections but what is the u.s. giving up to canada in exchange for potentially losing gary regulations -- dairy regulations? canadatically, cannot -- cannot be seen to caving to u.s. demands. there is a sentiment in canada that they are being bullied into this nafta agreement and they do not like the tension between donald trump and justin trudeau. to get a political win, canada will have to show it is secured concessions from the u.s. and that is the question -- what will be in this deal that canada can take back to canadians and say this is a good deal for canada and worth us giving up a little bit on our side. taylor: talk about caving in to demands and bullying, how much pressure does this put on canada when the u.s. and mexico seem to come to an agr

in the u.s., canada and mexico, we want to organize the greatest world cup, if you agree. for this, we will work together and do whatever we can to make sure this will be a fantastic event. >> it's very exciting. everybody is talking about it. it's very exciting. carlos? >> well, mr. president, thank you for meeting with us today. for my part, for my federation, u.s. soccer federation, representing u.s., canada and mexico, we are very honored to be hosting this event in 2026. it's right around the corner. we have a lot of work to do but we look forward to working with you and your administration. let me also thank you, mr. president, for your help, support throughout the campaign. your written assurances. i think without that, we wouldn't have won such a convincing victory. thank you very much for that. >> i also have to thank bob kraft, who i know you were working very hard with. bob originally called me and said what do you think of the idea of trying to get the world cup to the united states. i said i think we would really like it. we've got canada, we've got mexico inv

u.s. and canada. the four-day chart of the nasdaq, the rally we have seen, the best in nearly two months, up last friday on jay powell and the u.s. and mexico trade talks. yesterday, flat but a small gain. nickel up. with the gains and above the 8000 level, we have something to point out. you this chart of the nasdaq using digi tv function in the bloomberg. the nasdaq over the last year, mainly a beautiful up trend but the middleoppy over of the year and buyers taking control. rsi, momentum reader on the bottom come in january when the nasdaq had put in another set of all-time highs, well extended above the 70 level and into the near correction territory. now moving back to the top of the level and above the seven day, similar to the last time all-time highs with the nasdaq and s&p 500, and then down. perhaps some chop ahead. bulls in chart. 1.2% on a bullish inventory report. final rate on paper -- maybe a reversal for commodity with the dollar weak, slipping between small gains and losses. oil helpin

u.s. mexico and canada appears to be a thing of the past while u.s. president donald trump stuck in a dish initial agreement with his mexican counterparts on cheese day canada is proving harder to sway talks between those two parties broke off on friday with no agreement it now remains to be seen where the trump sends the bilateral trade deal off to congress for approval well goes back to the negotiating table. donald trump's friday deadline for a deal came and went with no three way agreement ahead of the talks janet a stock trade on void appeared less optimistic about striking a deal with washington as has been the case from the very beginning canada is the country that gives kids at finding a win win compromise with having said that in trade negotiation in this negotiation we always stand up for the national interests and that is what we're going to want to do we're looking for a good deal not just any deal and we will only agree to a deal that is a good deal for canada we're not there yet the u.s. and canada have been wrangling over several key iss

u.s. farmers. canada imposes 24 t9% on tariff. >>> there's a new sign of trouble with the united states and north korea. pyongyang accusing the u.s. of taking hostile actions behind the curtain of dialogue. the regime of the u.s. special forces tecarrying out exercisesn south korea. u.s. aircraft and ships operate from japan daily in support of allies. >> this happened hours after donald trump told bloomberg he can be patient with kim jong-un. he has more patience than anyone in the world. trump's relationship with kim remains good. he notes north korea released several americans and stayed away from nuclear missile tests despite taking no firms moves to denuclearization. >>> and now donald trump wants to scrap a federal pay raise for federal workers. it was slated to take effect in january. in a letter to house and senate leaders, mr. trump described it as inappropriate. he said the nation's budget could not support it. congress has an opportunity to overrule the president if lawmakers pass a bill that i

u.s. and canada. especially over canada's dairy market. the trump administration wants more access for u.s. farmers. canada imposes 249% on tariffs. canada wants to protect its domestic industry. >>> a new sign of trouble with the united states and north korea. pyongyang accusing the u.s. of taking hostile actions behind the curtain of die loeg log -- dialogue. u.s. forces in japan tell cnn they are not aware of the drills, but u.s. aircraft and ships operate from japan daily in support of allies. >>> this happened after trump told bloomberg he can be patient with kim jong-un. he said his relationship with kim remains good. he says north korea released several americans and did not conduct any missile drills. >>> president trump now saying he wants to scrap the federal pay raise. it was slated to take effect in january. in a letter to house and senate leaders, mr. trump is described it as inappropriate. he said the nation's budget could not support it. congress does have an opportunity to overrule the president if lawmakers pass a spending

u.s. and canada on wednesday. so that's another factor here. >> we've got an official comment here from a u.s. trade representative >> a new development here now a u.s. trade representative on the record, robert lighthizer today saying the president identified the president of his intent to sign a trade agreement with canada and mexico if it is willing 90 days from now lighthizer going onto say the agreement is the most advanced trade greet in the world in the next few weeks they'll be able to examine the agreement. they'll find it has huge benefits for our workers, ranchers, farmers and businesses saying we have also negotiated with canada throughout this yearlong process this week those moatings continued at yearlong levels, we made progress and our officials are continuing to work towards agreements the u.s. team will meet with freeland and her team next week. now saying on the record that the negotiations with canada will continue wednesday of next week, saying the president has officially notified kicking in t

canada needs to be a part of the final agreement. in order to reap all the economic benefits available from free trade. the initial agreement between the u.s. and mexico, canada is looking at the agreement and hopefully we will find a way to have them included. will be interesting to see what the new name of the agreement will be. apparently nafta is no longer permitted. names matter. in terms of the details of the agreement, i haven't gone through the details or seen an analysis of the investment provisions, so i will have to hold off on responding to that until the experts who do understand these things better than i provide their analysis. >> my question is for jd. i'm wondering how concerned is the business community to u.s.-china compared to u.s.-canada, mexico, and europe trade disputes. >> i don't think you could rank the relative concerns of the business community. it will depend on part -- in part on what aspects of the trade relationships the business industry is exposed to. the business community is concerned about all three. the u.s., canada and mexico trade region is enormous and terribly important to the u.s. economy. obvious

u.s. can proceed without canada -- whether the u.s. can proceed without canada.y got about a minute left, mike, but your take on the deal having to be done is this was a soft deadline. the needs to be something done by the 30 day marker. mike d.: now that they have done this, it does not need to be done next week. you usually set the deadline in washington and that is when things happen. my guess is that, since it is not done now, people will not make the hard choices until 30 days from now. that is the next interim deadline and you could argue way the u.s. goes all the you want to but it gets harder to argue past 30 days. caroline: glad to have your expertise and reporting for us during the next 30 days. and josh, thank you for being with us. that's all for "what'd you miss?" we will be live on 9 a.m. eastern on september the third. no rest for the wicked for me, sadly. we wish you all the very best from your labor day weekday -- weekend. this is bloomberg. ♪ s is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i liter

u.s. and canada our trade is six hundred seventy billion dollars the u.s. has a trade surplus with canada it has a trade surplus in steel and dairy and before the u.s. put on steel and aluminum tariffs on canada ninety nine point nine percent of all trade with canada was terra free thirty five of our states in the united states their number one export market is canada this is too important we create millions of jobs he got himself a motional in his relationship with trudeau and i think that he needs to step back a minute in and realize that this is the most important trading relationship the u.s. has and it's not just canada and the us donald trump has other trade wars going on which should be the priority as far as you can because you're concerned which country should be should he be focusing more on it's not canada and mexico as you say. the largest issue is china and i think everybody recognizes that and it's not just the deficit it's the protection of intellectual property and the entire working relationship with china needs to be the focus now fighting

u.s. and canada to reach a nafta agreement. today's deadline set by the trump administration. the u.s. canada to put ground on its politically sensitive the u.s. and canada to reach a nafta daily sector. a spokesperson says canada has made no concessions on the issue and here is canada's prime minister, justin trudeau, earlier today. >> we will only sign a deal if it is a good deal for canada. again, no deal is better than a bad deal. and canadians. that is exactly what we are remaining firm on. are joined now by michael mckee, bloomberg's international economic and policy correspondent. how much wiggle room is therefore today's deadline? michael: there is some wiggle room. this is an artificial deadline put in place by the trump administration. they would like to be able to sign the deal before mexican president leaves office on december 1. the president has to send a 90 day notification to congress that a treaty is coming. he would have to do it today to get it in for that december 1 deadline. but, they don't have to have a completed treaty up to congress for another 30 days after th

u.s. not sure about canada. he does have plans for the u.s not physical store, again just getting it in restaurants and getting vending machines outs there. he's taking a lot of questions about the growth potential of this brand what coca-cola would say is it was missing in the portfolio clearly a growth brand pepsico less than two weeks ago acquired soda stream a lot of similarities in these deals. both of them show the giants going where the consumers are going. faster growing beverages than the colace, the carbonated soft drinks all have a global component. overnight calls from both companies when deals were announced. both a bit of a strategy beyond the bottle and cans. moving over into different drinks quincy did say one trend we're seeing across the world is that consumers are willing to spend more on commercial beverages, but they want choice they want diversity and they're picky. likes to have a brand very popular. >> not like mcdonald's is going to put costa coffee in the mcdonald's. >> they could. they

u.s. is essentially told canada take it or leave it we await the outcome meanwhile the u.s. congress also has to have its say right. certainly there do a u.s. president on and can sign a new agreement without the support of congress and it's very delicate if you look . states here in the united states like kansas for example who depend a lot on agriculture from kansas twenty percent of their exports actually go to canada and was that is the most important trading partner and overall behind china canada is the second biggest market for the united states so there will be a lot of pressure to not just get any deal but the right deal so it's not going to be easy to hammer out a new agreement anytime soon and in other news yes with us g.d.p. numbers in how's it looking well the u.s. economy is on fire we saw economic growth in the second quarter by four point two percent that was a bit higher than expected and the biggest grows in almost four years but it's not just grows overall also if you look as u.s. corporations they just finished the second quarter was the highest of profit

he is saying canada is studying the terms of the u.s.-mexico trade deal. deal. if it is good for canada. justin trudeau, the prime minister of canada, says it has not changed. this comes after they both said justin trudeaud, and donald trump, said they agreed to continue productive trade talks. the canadian loonie has been continuing to strengthen against the dollar again. we are not seeing much reaction though right now on the heels of these headlines. caroline: we will keep eyes on trade. we spoke to commerce secretary wilbur ross earlier today about the nafta negotiation. the system in canada has been very, very controversial with the president in with u.s. economists in general. in addition, canada has not been particularly good on intellectual property rights on forwarding the trend of counterfeit goods through canada to the u.s. a number of divisions of that sort. they are things we need from them. understand, in the agreement with mexico, there are intellectual property raise it -- revisions. with those two sufficient to take care of the problem with

the u.s. canada and mexico have been trying to hammer out a deal for over a year if they reach a consensus by friday that could pave the way for a mexican president and rekey pena nieto to sign it before he leaves office at the end of november. time to bring it off financial correspondent yens court in new york yes the u.s. is essentially told canada take it or leave it we await the outcome meanwhile the u.s. congress also has to have its say right. certainly there do a u.s. president on a can sign a new agreement without the support of congress and it's a very delicate if you look. states here in the united states like kansas for example who depend a lot on agriculture from kansas twenty percent of their exports actually go to canada and was that is the most important trading partner and overall behind china canada is the second biggest market for the united states so there will be a lot of pressure to not just get any deal but the right deal so it's not going to be easy to hammer out a new agreemen

u.s. i'm told from sources will present the deal to canada. the u.s. again, though, the president has said he's fine with bilateral deals. we will see if they sign on. cheryl: they are arriving today to start the talks in earnest tomorrow, i'm assuming, correct? reporter: exactly. talks start in earnest tomorrow. they have until friday with the original language but once the letter is sent from u.s. trade representative's office to congress, a 90-day clock starts. within that 90 days, canada can still sign on. cheryl: very interesting. lot of moving parts. thank you for covering all of that. great interview. thank you. >>> here's a question for you. not really a best buy. let's check the big board. you have the dow higher by 24 points but the electronics retailer getting beaten down by investors who weren't happy with its third quarter guidance. best buy, worst performer in the s&p 500 today. right now, the stock is down almost 5%. >>> coming up next, while talks with mexico had a happy ending, talks about denuclearizing north korea may have hit a spee

u.s. has a trade surplus in dairy with canada.three, canada had actually given us more allocation of dairy in tpp but the president got rid of that. so i think this is -- and it's a tiny, minuscule portion of our entire trade. i think that we are making a big deal. i'm not saying it's right. i'm just saying we are making a much bigger deal of something that is incredibly small and incredibly sensitive domestically. farmers get subsidies in the united states of all different types of products. we're not getting rid of subsidies that i know of in the united states in our agricultural community. you know, we all protect our dairy and farmers on both sides of the border. but i hear you, there's a middle path here. cheryl: thank you for your time. thank you for helping us cover the breaking news. >>> i do want to bring in, to weigh in on this on the auto side of this, "wall street journal" reporter tim higgins. tim, again, the "wall street journal" reporting there is no deal between the u.s. and canada and automobiles, that's your spec

mexico is still looking to bring canada and the u.s., looking to bring canada back into negotiation. we expect that to happen tomorrow. mexican officials making clear if canberra and the u.s. cannot come to an agreement on their trade issues, that at least mexico has the promise of free trade with the u.s. through bilateral deal as a fallback to the trilateral, which is the ideal for mexico and the u.s.. >> as you have been all over washington today and reporting and talking to people, what are you hearing? does the u.s. feel it has won because it got canada to say we have come back to the table? what should we be looking for in the next few days? eric: certainly president trump looked at this as a victory. it was something where he had promised the american manufacturing workers he was going to do something about this conclusion in his administration. hundreds of thousands of jobs were lost in mexico over the years due to nafta. it will be interesting to see what happens when canada comes back to the table because ambassador lighthizer told me today that they are ready to friday abou

president says these tariffs must go and there is a lot at stake mutual trade between the u.s. canada and mexico totals more than a trillion dollars after the u.s. and mexico reached a preliminary agreement signed kind of the two but soon be on board. what's have really leaves the way the what canada believes if you could leave here. in that state next to me in significant fashion which is where we in the area leave her in which cars and even steps to relieve our needs be valuable work into canada and united states have been for some time about their jobs though still sticks the comedian prime minister said he would only sign a deal that was good for canada but he praised the progress that was being me. we're pushing hard to conclude an agreement that is when we're in with a modern and progressive agreement that is in line with our values and our ambitions and that will benefit not only canadian businesses but all canadians the u.s. treasury secretary steven minutiae believes an agreement with ottawa could come or later this week he said the talks had met the canadians demand working

u.s. and canada on trade.esident set to hold an event in choorlt, looking to change how americans save for retirement we will take you there live in charlotte. his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than a dollar a day. his secret? selectquote. in just minutes, a selectquote agent will comparison shop nearly a dozen highly-rated life insurance companies, and give you a choice of your five best rates. duncan's wife cassie got a $750,000 policy for under $22 a month. give your family the security it needs at a price you can afford. i love you, basement guest bathroom. your privacy makes you my number 1 place to go number 2. i love you, but sometimes you stink. febreze air effects doesn't just mask, it cleans away odors. because the things you love the most can stink. and try febreze small spaces to clean away odors for up to 30 days. breathe happy with febreze. >>> good afternoon, e

canada. according to "the wall street journal," the u.s. up with no agreement. we have another headline on argentina. be cut by standard & poor's. we will have both of those headlines in the market reaction. s&p 500 off by .2%. this is bloomberg. ♪ caroline: the wall street journal reporting that the united states and canada are breaking up with no agreement on the revamp nafta. is scheduledrence at 4:30 this afternoon. missing reaction in terms of the canadian dollar, mexican peso. the u.s. dollar is strengthening against the other currencies. joe: it is. important to note -- it is not massive. less than 1%. throughout this week as various things have gone -- we have to mexico announcement, there have been modest moves. we will see what happens. according to "the wall street journal," no deal at this point, but whether that means there cannot be any deal ever were a modified trading relationship, at this point we don't see panic or anything like that. just a modest decline. you see the dollar rallying against the peso. he doesn't even get

canada. then it would also be devastating for the u.s. ell because canada would be forced to retaliate. you're looking at a situation where nobody will buy any north american built cars candidly u.s. workers will suffer massively. why? 60% of all parts that go into canadian assembled vehicles come from the united states number one export market for vehicles from the united states is canada. why donald trump would shoot himself in the foot and more importantly american workers doesn't make any sense the only winning in that type of exchange will be the cars that are imported to the united states from japan, korea they already are selling about 2 million vehicles a year in the u.s. market or the u.s. sells no vehicles to those markets at all. why would you want to hurt yourself and benefit markets, benefit countries that you have no access to in the first place. doesn't make a stitch of economic sense but unfortunately at this point in time one can argue that trump is arguing politics. >> how many of your members are employed by american aut

u.s. and canada look like they are going down to the wire as they try to reach a deal. could hinge on the dispute panels that the trump administration wants to eliminate. the u.s. official said it is not certain that the american side will budge on its demands. negotiators have expressed optimism over the talks. former san francisco 49ers quarterback colin kaepernick has been the nfl's bit to dismiss his lawsuit which alleges the league colluded to prevent him finding a new team as a free agent. kaepernick was one of the first nfl players to neil during the national anthem, making him the face of the black lives matter campaign that has seen athletes protest peacefully. president trump said they should all be fired. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jenna dagenhart. this is bloomberg. ramy: thank you. posted ampany razer revenue jumped and aims to spend more on new ventures. an exclusive interview with ceo and cofounder min-liang tan, next. this is bloomberg. ♪

u.s. and mexico. says canada is encouraged by the progress made so far. the u.s.agreement hinged to a great extent on auto production, but critics say very few models will actually be covered. republican party are more apparent with mitch mcconnell offering jeff sessions his full backing. he says he has confidence in sessions. the comments confirm a split with some republicans. president trump has increasingly attacked his attorney general over the mueller inquiry. a little-known swiss bank has reached a deal with u.s. regulators to pay a fine and provide information about hidden accounts used to dodge taxes. they will pay $60 million and forfeit fees from the undeclared account to 2012. at its peak, the bank had more than 1100 accounts from your clients worth a total of $813 million. amazon is said to be talking to aboutst two major studios cofinancing movies to boost its streaming service. discussions involved sony and paramount and options may include development funds and backing for the production. it would help amazon chime new viewers and take the battle to

u.s. and canada are probably on track on an agreement by tomorrow. he says negotiations are going well. ign minister the u.s. is showing a spirit of compromise but warns there is still work to be done on details. the international monetary fund is considering argentina's request on the credit line. the president says the country needs the money to show it has enough cash on hand to fund next year's budget. that is as the argentine peso is plunging to a record low. global news 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. alix: the s&p closing above 2900 the first time yesterday, and president trump is positive summit tweeting this morning for the news from the furniture market is even better than anticipated. financials from the market is even better than anticipated. more good news is coming. what do the technical's say about the sustainability of that equity rally? katie stockton, fairlead strategies founder, joins us. so s&p and tech leading the way here. -- thiss the

now it's up to canada as the u.s. and mexico agree to revised trade arrangements the other partner in the trade pact formerly known as nafta remains tight lipped about whether it will now. also coming up plastic bags a terrible for the environment and now kenya has taken the world's toughest stance against them but up to four years prison time for using one. this is your business update on how to have free glad you could join me the u.s. says is still hopes to find common ground on trade with canada after reaching an initial agreement with mexico on to a new look now after the u.s. president is pressing canada to accept new terms for the way car imports attacks if not the president says he'd happily leave also out but that comes at a cost mutual trade between the three nations totals more than a trillion dollars annually canadian prime minister justin trudeau said he would only sign a revamped north american free trade agreement that is good for his country. he

and, our starting point was a place where canada and the u.s. apart in their proposal. but what we found is the negotiation went on is canada and the united states shared a concern for our workers in the car sector, who are high-wage workers who have felt they could be disadvantaged by trade agreements and one of the things that i think we are accomplishing in this agreement, is a better deal for worker, canadian and u.s. workers in the auto sector. that is important. that has been a success due to canada and united states working together. due to mexico showing some significant flexibility over the summer. >> stephanie with cnbc. you mentioned the auto sector. how difficult is the pharmaceutical sector and the provisions that would cause canadian drug prices to rise? is that a key sticking point? >> again, i have said we're not going to negotiate in public. when it comes to the canadian positions on issues, i think our positions are pretty clear and pretty well-known. hi, adrian. >> hi, chrystia, how can you possibly negotiate with a guy like do

u.s. or canada panel or u.s., mexico panel. i chaired one of those once. they work fairly well, but the united states has reasons to get rid of that. we don't have leverage to force canada to drop it, and it is an extremely important issue for canada because of lumber and because of aircraft. so we're not going to get that we have reason to get it, but we're not going to president trump needs to come to understand just being obnoxious doesn't create leverage. >> do you not believe this gets rolled into a final agreement by the end of the week? >> i would find it very, very hard to believe. but if it did, it would be because president trump let go of his demand on removing chapter 19 and let go of removing canadian tariffs. it would have to be trump that would suddenly let things go quickly to make it happen the end of the week. it is not that we don't want these things or have good reason, we just don't have leverage as ambassador hills says, there are small issues that need updating, negotiators worked a year to update other provisions that don't get a lot

u.s. workers and allegedly taking jobs away between canada and the u.s. it's to do with canada's protected agricultural markets mostly the dairy industry american farmers want to sell the canadians milk butter and so on and right at the moment they're not able to sell that much it's heavily restricted and there are high tariff barriers that and dispute resolution canada wants independent arbitrators to resolve disputes with the united states and the united states says no way you have to take us to court or the disputes will not be resolved so right now those are not resolved the problem is going to be that it's hard to see where the ground lies where the common ground lies we're going to have to wait until next week to see if they can move either side than a lack in toronto for us thank you. russia has blamed kiev for the killing of a moscow backed separatist leader alexander janko in eastern ukraine the prime minister of the self declared donetsk people's republic was killed in a blast at a cafe in the center of the city russia's accused ukraine of assass

it is the lifeblood. 75% of canada's exports come into the u.s. ks like canada does need a trade deal. i would like, rich, your reaction on the other side of these sound bites. about the media. instead of the nuts and bolts of the trade deal, they're calling for the president's impeachment. >> impeachment. >> impeachment. >> impeachment is a word in play here in washington today. liz: your take on that, rich? >> well, look, right now betters, betters say the democrats take the house in november, we'll see. let's assume they do. they go forward and itch peach president's trump. based on today's evidence i think that would be a mistake for them. it would come back to haunt them, the same way it came back and haunted republicans. the republicans didn't take them long to lose their big majority they won in 1994 over impeaching bill clinton. remember it is not impeachment that really counts. it is the, it is the senate confirmation. that takes 2/3 of the senate. it would be a mistake for the democrats to do that. quite tactically it would be a mistake.

u.s. and canada remain so loose of. and all financial correspondent yens quoted joins us from new york yankees the friday deadline is upon us and it appears at this stage canada is out. well canada is out for this deal only this week no deal was reached but there was word that talks might continue next week but that doesn't mean that an important deadline was missed ended won't be possible illegally to have a trilateral deal before the new mexican president takes office december first and the big question is if congress will actually go with a bilateral deal with mexico and the united states without canada that could be tricky to achieve but overall at least the wall street reacted in a very moderate way and we ended the month of august and it was the best august for the nasdaq composite an eighteen years and the best august for the rest of the market in the past four years all right so the new mexican administration not into the first of december we've got quite a few months to chew over this topic taking a look at tra

canada. an anti- dumping review panel. the u.s. wanted out canada wants it. if you reporting for estate that does fruits and veggies there's a huge battle between florida and california. it has to do with their needs special safeguards and imports on fruits and vegetables. california doesn't want them, florida does. and what amounts of value the custom rules even apply. canada has one of the lowest standards in the world. if you send a birthday president to kennedy still have a customs form. versus the u.s. is $800. the battle lines to wrap up and get to questions of where the fight is, this is the upside down world of trade in the trump era. the administration has trump having pledged to do two things. to bring down the mexico and trade deficits and to bring back manufacturing jobs. both of those things are measurable. every month they put out the manufacturing job numbers. and every month it comes out the annual monthly trade data. right now it was the six-month data. so breaking news you may not have been able to cover that. six-month data shows the first

canada is our best trading partner in the world. we do $670 billion worth of bilateral trade and the u.s. s , yes, a surplus in goods and services, so canada will be there. the discussions going on with mexico right now are primarily focused on the auto sector and i think given the extreme difference in wages that occur between mexico and the united states and canada well these, this is the focal point of that conversation, but you can't have a nafta deal without all three parties, and remember, they're all operating under trade promotion authority, tpa, and this is a try lateral tpa, so all parties need to be at the table to make this happen. don't think that you can just do a bilateral deal with one country or another without congressional authority here and it's not going to happen. ashley: i agree. now what is the relationship right now, how would you characterize it between president trump and the premier mr. trudeau at one point they were like, you know, people talked about a bromance much like trump and macron of france but it seemed to have called off a little bit. >> i think it's

u.s. pressures canada foreign minister to strike a deal by friday. no clear signs of progress, u.k. and the eu are said to be dropping the october deadline for a brexit deal. global stocks are mixed overworked amazon and the nasdaq hit record highs, how long will this rally run? , 90 minutes into the trading day in the u.s.. abigail doolittle has the latest. >> bulls in charge, the rally that started with jay powell's statements and jackson hole. the nasdaq leading the way, technology up .7% with s&p 500 and the nasdaq putting in a set of all-time highs. the rally continues. four up days in a row. days in ap for seven row. 11 sectors trading

u.s. and canada. the bigger picture, vonnie, is that if we think back to that terrible g-7 summit back in canada over the summer where donald trump seemed to manage to simultaneously alienate all of the u.s. allies, europe, canada, with threats on trade. what we've seen in the last few months is that the u.s. now is kind of walking some of that back. they're looking to do deals with canada. they're looking to lower tensions with europe. and why they're doing that, i think what it means is that it frees up energy and focus to think about the really big challenge, which is trade with china. vonnie: canada compromises on dairy. the u.s. compromises on the panels. will that work for the canadian portion of things? tom: yeah, i think what we're seeing is, in a sense, kind of a success of donald trump negotiating strategy. you go in and threaten to break everything, even if that would impose costs on your own economy, and then there's a kind of scrap where you manage to extract some minor concessions. that'

industry is highly protected here in canada and u.s. wants to import more milk butter and so on into the country and also the americans in any trade relationship almost always have the upper hand if you want access to their market while you play by their rules and they break them from time to time and canadians want independent trade arbitration that they have had in the past and the americans want off the table both the foreign minister that we heard from earlier and prime minister justin trudeau say those are both red lines no go areas they're sticking to their guns for now but any new deadlines that come up they'll have to probably take more seriously than the one that passed this week to anybody thanks data. live in toronto. here with the news hour from our series still to come on the program revelations that the united arab emirates has been spying on leading figures across the middle east. go back home people escaping venezuela's economic crisis receive a cold welcome in peru. and in sport the spread legend getting a run out for a

it is not only canada's biggest partner, the u.s.'ing partner is canada. >> mostly because of oil >> it has a huge deal at home. dairy subsidies. there's a bizarre subsidy program in canada that subsid e subsidizes a lot of the dairy industry which is anti-competitive but it is existential for any canadian prime minister so there is a way he could step up to the plate, negotiate it, but there's certain things that trump is demanding that the ka yad th canadians cannot deliver canada is an ally. he has put an ally in an awkward position at a time when he's vulnerable at home politically it's a tactic that worked but it has worked against the u.s.'s closest allies you have to think of the long-term consequences here as well >> peter spiegel, thank you very much >>> results from the arizona and florida primaries are in and they are setting up a fierce fall showdown. tracie potts joins us now with more >> a couple of races that stuck out overnight. we have results for farizona th republican senate primary, this was the race to replace jef

u.s. has essentially told canada, take it or leave it. meanwhile, the u.s.ongress also has to has its say, right? jens: certainly they do. u.s. president donald trump cannot sign a new agreement without the support of congress. and it is very delicate. if you look at the states here in the states -- the united states that depend a lot of agriculture, for kansas a good 20% of their exports actually go to canada, and that is the most important trading partner. overall behind china and canada -- behind china, canada is the second biggest. they are looking to get the right deal. so, it will not be easy to hammer out a new agreement anytime soon. helena: and in other news, jens, we have u.s. gdp numbers in. how is it looking? jens: well, the u.s. economy is on fire. we saw economic growth in the second quarter grow by 4.2%, a bit higher than expected and the biggest growth and almost four years. also if you look at u.s. corporations, they just finished the second quarter with the highest profit growth and about six years. we see the unemployment rate at the lowes

what is left is u.s. canada. the two big ones are dairy. trump wants confession on the dairy imports. court, canada says it is essential for them to get fair treatment. the u.s. wants to kill those courts. those are the big ones. if they can find a way around those, a lot would be easy to come to after that. it does not mean that they are out of the woods. it would have to be voted on in congress. trade deals are very complicated and toxic. yvonne: i read a headline that the mexico stab canada in back by getting a deal with the u.s. first. does the president have the upper hand here? congress might not actually go through with the bilateral deal. that gives canada a little more wiggle room. >> it depends on who you ask. the congress is telling donald trump you have taken us down this path for a trilateral process. it lends a lot of trade power to the president. to throw canada off, you have to either restart the process or get canada on board. canada will take that to heart, but they do not look to be digging in their heels yet. this is a to

the u.s., canada and mexico trade region is enormous and terribly important to the u.s. economy. europe is important to the economy. what elevates china in one is that negotiations with china are inherently more complicated. so you can negotiate this. the chinese economy is structured differently then europe or the united states. manythere are so dissimilarities, it makes it that much more difficult. an example is state owned enterprises. the fact that there are not it isowned enterprises -- much narrower in scope. having a trade agreement that covers the potential for subsidies and government support in an industry that is heavily dominated by state owned enterprises is difficult. something that was omitted when china joined a world trade organization. that the chinese economy would evolve more towards the western model, if you will. that was a bad assumption. a bad assumption not because it couldn't have transpired but it assumed the chinese government wanted it to transpired in that way. structure the chinese economy in a different way. it is a matter of policy. a matter of wh

u.s. and canada as we have a framework with the u.s./mexico agreement? they need to bring canada back into the fold that's supposed to happen this morning. canada's foreign minister is supposed to be back in washington today to resume talks trilaterally if the u.s. is not able to make headway with canada and there are still a significant number of issues on the table relating to dairy, golf prompt pt governn procurement it will be difficult. they will have to get congress and industry groups to accept a two-way deal with mexico, when all the time they said they were negotiating a three-way deal >> do we get a nafta that maybe gets everybody in the fold if certain things are agreed on how long would that take >> we can get there. that's what the administration has been pushing for that's what all three administrations have been pushing for for more than a year now in these negotiations. how long it would take it will be tricky. the trump administration, the trade adviser indicated yesterday that they're planning on sending formal notification to congress

to the nordic countries to the u.s. canada and china and i think that's a great pity and that's going to be a problem in the future rebuilding hillary get an excuse same question that i asked peter about the sectors which sectors of the greek economy were doing ok maybe which ones not well when you say sectors i mean the sad thing is there really isn't any hard industry so we can't point to things like we can in germany. the largest market cap company in greece is coca-cola so there isn't any large manufacturing i think two sectors that will continue to do well in that they have as an offering and a unique offering are tourism and agriculture tourism although over twenty million visitors that is projected it could grow exponentially. it's only at like about a third of its capacity athens could host you know three times more tourists than it does right now it all depends on efficiencies and if government regulations can be relaxed in terms of the amount of entrepreneurial businesses that want to start interest and then agricult

steel and aluminum tariffs have hit canada, a major seller of all of those things to the u.s.. that will be hanging over talks. it has had an impact on the relationship and sentiment in canada towards the u.s. government and trade. that was bloomberg's sarah mcgregor reporting from washington. thank you. vonnie: i investors digest the latest about on global trade. joining us now is kathy fisher at alliancebernstein. what are the main concerns of your clients right now, is it old trade or other thing starting to prevent? -- other things starting to creep in? >> trade is the largest thing we are worried about that also certainly inflation because tariffs can raise the prices on goods. the u.s. market has gotten much more attractive relative to other markets'recent quarters but that is causing some concern. the u.s. getting too expensive relative to other markets. i want to put something a little provocative on the table which is that we are finding that clients with a long-term horizon are looking more seriously at investing particularly in a-shares. the a share market began to op

u.s./mexico agreement. canada seems to be getting on board, if that's going to happen in time, this is all about getting congressional approval before the new mexican government comes into play on december 1st do you see this as an example of the trump administration trying to fix things rather than what we've seen over the last 18, 24 months, wreck things >> i think this is about him being able to declare he's a businessman who strikes deals through aggressive tactics, negotiations he wins. that's all this is about >> mnuchin yesterday told my u.s. cnbc colleagues that negotiations with china on trade can't just be talk there has to be follow-through are the discussions with mexico, canada, europe, essentially irrelevant and the big conversation has to be between washington and beijing >> that's the big -- certainly from our perspective, that's what we care most about, what happens out of china >> i want to ask you, there's all this uncertainty about the trade disputes, the possible resolutions. there's no clarit

dairy is canada and u.s. are having a fight. chapter 19 is a fight with canada also. it's a special sort of anti-dumping review panel. the u.s. wants it up, canada it in. seasonality, if you are reporting for a state that does fruits and veggies, there's a huelingts battle between florida and california on that one. it has to do with whether or not there can be special safeguards, and limits of futures and vegetables. california doesn't want it, florida does. and the de-minimus, which has to do what amount of values customs rules even apply. canada has one of the lowest standards in the world, $15. if you send a birthday present to canada, you've probably still got a customs force, versus the u.s. is $800. they're having a fight about that. the battle lines, so sort of wrap up and get to questions of where the fight is, so this is the odd, odd upside-down world of the trump era. the administration has trump having pledged to do two things. to bring down the trade deaf sirblingt the approximate nafta trade deficit, and to bring back manufacturing jobs, and both of those

canada? i think we absolutely do. the bottom line is that canadian exforts are 20% of their gdp and u.s. heck of a lot more than we need them so i think they're going to make a deal. lauren: the president, president trump has basically threatened them hey you know, give us what we want, essentially what we're going to slap your cars with the 25% tariff. would that decimate their autoindustry how desperate is canada right now in your view? >> well the autoexports is largest part of their economy, in terms what have they trade overseas, so the fact of the matter is by putting big tariff on their exports it would really affect them quite, quite negatively so they really don't have a lot of choice. but to make a deal. >> there's cars and then there's yous what's the latest with with the negotiations in terms of dairy? >> i think this is kind of a cars versus cows thing. they expert a lot of cars to us. we should be able to export a lot of dairy to them. and i think we have some competitive advantage and they have high tariffs so it is about getting a fair trade deal. >> about 300% to say mis