u.s. china negotiations have ramped up with no major progress, setting the stage for further escalation of the trade war. conclusion of the talks came hours after beijing and washington rolled out their tit-for-tat tariffs. no further meetings have been scheduled. chinese officials raised the possibility that negotiations could be on hold until after november's midterm elections in the u.s.. china has removed limits on foreign holdings in domestic ranks and asset management companies. overseas financial institutions will now be treated the same as local companies. foreign stakes were previously capped for a single institution. 25% for a group of foreign investors. the move marks the latest step towards the financial sector. south africa's central bank will take a measured approach to monetary policy in the face of heightened currency volatility according to the deputy governor. his comments at the gathering of central bankers came hours after ed intotrump wad the debate, which sent the rand lowe

u.s.-china trade tensions. undermineriffs could both. managerk a portfolio what markets they will be watching and other central banks . this is bloomberg. watching daybreak australia. traders are not convinced that the emerging markets will be enough to derail the fence planned rate hike. on what investors will she joins us from sydney. a big weekend ahead in terms of .entral banks how will that dictate where investors should be looking? >> it is interesting. also, it is in the middle of reporting season. of course, the currency has recovered a little bit. the meeting of the central banks at jackson hole is reaffirming global growth for the coming wer and that is important as do want to see the continuation and so we will have to see what is taking place. it will be fascinating. >> we have some earnings coming declaring cash we are expecting a little bit of outside pressure. they were coming off tough comparisons for the june quarter. when itme weakness comes to the retail segment in new zealand. that stock is still up your today. i'm go

u.s. and china are set to resume. walmart stock surging after the company reported the strongest sales gain in more than a decade. we will hear from our interview with former u.k. conservative leader iain duncan smith what he is saying about brexit. there about 30 minutes into trading day in the u.s. and we have strength across the board. the dow in particular doing well , in part because of walmart. that index up 1.25%. the s&p and nasdaq also gaining strength. this is the best day since july 25 for the s&pthat index up 1.2. 500 and the dow is doing the best since july 9 straight helped by walmart. forfor now, look at those share, up 9%, up slightly more analysis we are joined by romaine bostick in new york. let's start with turkey. sayingance minister turkey is not going to impose capital control. indeed that is something a lot of analysts have said not be a good idea. is somewhat reassuring and we saw that reflected in the movement in the lira. that was one of the biggest fears traders were talking about. they do t

u.s. is an economic superpower, even though china has grown. the u.s. s about 13 trillion. there is an impact, a big impact in the u.s. measures against china and is countries do not want to take sides. what they want is what everyone talks about, open trade, free systems, rules-based systems. now, whichhey are trump feels are disadvantaged to the americans. yvonne: thank you, we appreciate your time. about how a potential trade were between u.s. and china could further integrate the asean region. don't forget our interactive tv , you can dive into any of the securities are bloomberg functions we talk about and become part of the conversation. you can't send us instant send us -- you can instant messages during shows. this is for bloomberg subscribers only. this is bloomberg. ♪ g. ♪ ♪ isy: welcome back, this "daybreak: asia." issued hsbc second-quarter results on monday with analysts looking at evidence of better revenue momentum. our asia finance editor joins us from tokyo with more. tell us more about what to expect here. hsbc been doing to drive r

u.s.-china tariffs. we are expecting the u.s. will go ahead with a further $16 billion and china will match it. china has outlined $60 billion worth of goods that will be hit if the u.s. goes ahead with $200 billion the day of outline. we looking at five percent to 25% on 5000 different categories of products, so the higher-end of the tariffs will target products like meat, week and lng. -- wheat, and lng. this additional list outlined by china doesn't do much to add further pain to the u.s. agricultural sector but in terms of lng, there is an impact. we saw some of those players in the u.s. market falling. that is one to watch. china has said it will not be bullied or blackmailed. as you have been discussing, we have been waiting to hear from clarity from china how they plan to respond if these tariffs are put in place. we got more details friday. now we are looking to see what happens with this consultation in washington towards the end of august. then the end of august, early september, you could get additional $200 billion wor

u.s. and china, there is a really risk -- a real risk that it will come off. the u.s.nt. how it will -- how will impact the u.s. economy going ahead? give clear escalation on where he thinks the u.s. economy will be infected were headed for if this dispute goes on. you have seen and heard from many ceos and economists that the u.s. economy is likely to be worst hit if the trick is to actually escalate. we have seen it actually happening. powell needs to be very clear on how he wants to articulate that at jackson hole. how the u.s. economy is going to be ambiguous about it. yvonne: when it comes to the bond market, we are looking for clarity in this tight range for a couple of months. given trade tensions of geopolitics, yield is taken lower from here. is the yield curve debate still going to be further flattening, or do you think we could see any kind of breakout. ? kelvin: i think that is going to be disputed by what people think will happen to the global economy in the future. we have our 10 year yields impacted at 3% for next year. then you see the rates actually be

china. we see it as a natural expansion. u.she have vehicles on the road, we are looking at places like germany, france, the u.k. and china where hydrogen fuel cells are beginning to have momentum. yvonne: your industry is very capital intensive. scale is a key to your success. how to the relatively small players compete with some of the bigger giant that there, especially in china? i saw all of these that were already electric. are you able to catch up? >> the chinese government understands that there are limitations to batteries. we believe fundamentally that are the answeres from a cost perspective and sustainability perspective. the advantage that fuel-cell has is for heavy asset -- asset letter -- assets that are heavily utilized. make a longer range and you can fuel them like an automobile today. ramy: thank you so much for coming in. >> thank you for taking the time. ramy: we have an alert to tell you about crossing the bloomberg terminal. a fatal blow considered for malcolm turnbull. three ministers have now quit his cab

u.s.-china trade talks, right now all indices in the green. lauren: nikkei in japan gaining about 1% and shanghai in china up fractionally. cheryl: more bad news for elon musk. fbn:am begins right now. ♪ ♪ lauren: good friday morning, 5:01 a.m., i'm lauren simonetti. cheryl: good morning, i'm cheryl casone. lauren: hurricane lane burying down on hawaii on what would be the biggest storm the state has seen in two decades. cheryl: ray in honolulu with the latest, ray, good morning. >> hey, cheryl, lauren, calm thursday in honolulu, we saw one of the most gorgeous sunsets people have ever seen but in an hour and hour and a half the wind start today pick up. many people in hawaii are feeling the storm's effects, for instance, right now a flash flood warning is in effect for parts of hawaii's big island after more than 20-inches of rain fell there in less than 24 hours, streets were flooded and this all while lane spins 200 miles southwest of hilo and now hitting island of mawi. causing more than 250 evacuees and shelters, the storm has been downgra

pentagon says china's military is probably training for strength against the u.s. and its allies. report to congress of defense department said china has expanded its over -- it's areas in the past three years but says the message is not clear beyond a demonstration of improved capabilities. the report comes at a sensitive time with washington and beijing locked in a trade dispute. global news, 24 hours a day, and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. ramy: as washington and beijing prepared to head back into the trade talks president trump has prodded china to offer more at the bargaining table. >> a very much want to talk. they're just not able to give us something that is capital. we are not going to do any deal until we get one that is fair for our country. ramy: let's bring in bloomberg senior writer national editor jodi schneider. is either side really ready to make concessions in? -- now? reporter: this seems more about talking the talk. to figure out where the two sides can go next. can there be a truce before w

u.s. companies in china, and sold in china. in fact, the u.s. ight surplus with china, therefore i think president trump is greatly mistaken to believe that the u.s. will be an easy winner in a u.s.-china trade war. haidi: i want to bring up this chart. taking a look at the impact of the yuan, the correlation between equity assets and currency had declined eight weeks in a row. we added another 16 today, the lowest since 2017. we are calling seven the line in the sand from the rhetoric we are getting from policymakers. is unders the currency pressure, are we going to see pressure for equity? >> yes. the currency is certainly under pressure. has affected chinese investor sentiment, but i think the bigger point with respect to the stock market is there is a cure your feature of -- a peculiar feature of domestic chinese equity funds. havedomestic equity funds a feature of about 10%-15%, meaning that selling would be get more selling. therefore, today, most chinese domestic funds have about 50% to 80% cash. are the declines we've equities inland part

china. we are wrapping up these today talks between the u.s. and china. talks between the u.s. and china.ication when it comes to trade and they are constructive and honest talks when it came to the trade issue. they did not make a whole lot of progress but perhaps they are still keeping communication and there was a signal from the chinese official that perhaps we will not be able to see another revival of talks until perhaps after the midterms. we will see how that plays out. ramy: the expectations for asething really were dashed well from president donald trump trying to say that nothing might come out of this. and to be totally honest, all of the guests we spoke to said these really are just talks. just trying to get a little bit out of the tone crossing the bloomberg terminal, the fact that they are positive and constructive and honest is as if they are trying to continue as you say, these lines. at the end of the day as we have been hearing, no one wins in this trade war. the $16 billion tariffs have been enacted. looking ahead, the $200 billion could also be enacted as soon as sept

u.s. and china. just hours after -- the u.s. placed duties on chinese made motorcycles, wind turbines and railway cars. china retaliated with cars in cold. the latest -- cars and coal. president trump is making it tougher his administration to close the deal on a new north american free trade agreement. the president's threats to fraud -- punish carmakers to make vehicles of the u.s. are a stumble block. the u.s. wants to boost tariffs from cars made in mexico. the central bank of russia will suspend sales of rubles to buy foreign-exchange through the end of september. that helps rollback the currency from a two-year low. worrying about a note deal brexit with raise prices on european goods and make life difficult for retirees. there were 25 tactical notes on how the country should a pair for the possibility collapsing. retirees -- british access to the u.k. bank accounts. 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 kailey leinz, th

u.s. and china. perhaps you also want to take a look at the respective yield curve of the u.s. and china. if you look at the same curve in china, we are approaching 80 basis points. if those yield curve's anything about economic activity, what we are going to see is chinese equities looking well-positioned to outperform their american peers for the rest of 2018. some interesting dynamics. anna: quick word on those futures. this is what we see on u.s. futures right now. s&p futures and negative but not by much. let's tell you a little bit about something exciting that is coming up on the program. the ceo of guatemala mac is going to be joining the team for his first interview of the day. that will be just after 7:00 a.m. london time. we had the bloomberg school overnight talking about the drilling unit of this business. could it actually be spun off rather than sold, are they unhappy with the amount of money that has been offered for that business. word go to bloomberg first news update with juliette saly. juliette: the u.s. treasury secretary says washington is ready to hit turk

u.s. and china will resume negotiations your trade speeds. it will be at a low level. send a minister to the u.s. later this month. the chinese delegation will meet with the treasury undersecretary. they have reached an agreement inmate but trump backed away from that deal soon after. president trump believes his tariffs on imported steel will rescue the industry. he told wall street journal the people may complain that steel prices are little more expensive , but they will eventually fall. he says the tariffs protects an industry that is essential to national security. >> she was known as the queen of soul. singer aretha franklin has died in detroit after a career that lasted decades. she suffered from advanced pancreatic cancer. she was 76 years old. ♪ live from new york, i'm julie hyman. counting down to the european close. let's talk about frexit. talks between the eu and u.k. resume in brussels today. the eu is signaling wants to make september a decisive month. theresa may favors a late autumn deadline. this is raising concerns about britain's decision to leave th

vice president of the u.s. china business council in beijing, jacob parker says companies are starting to shift production out of china. this isn't necessarily companies looking to build new factories in other countries, but shifting capacities where they already have facilities. if the content -- if the trend continues it could end up a bit of trouble for china. definitely concerning effect from the tariffs beginning to emerge here. just hang on there for a second. i want to bring in tom mackenzie from china.

u.s.-china conflicts. trade between allies.econd is more of a structural conflict is centered around china's rapid technological advances that are really built on flagrant ip theft. there are some differences, but i'm not surprised china has come back to the table. meanwhile, china's economy is plummeting, faltering, the stock market is going down in any kind of recession could lead to civil unrest which would be a nightmare for china. >> exactly. that's a good point. you mentioned the economy they are. were already seen the pressure is already effect in their currency. they were devaluing their currency and fairly. we always find equal playing field with the chinese in the yuan. now we might get it. >> absolutely. that's one of the four things will be focusing on. obviously to bring down the tariffs, to reduce the pressure in order to review a lot of the intellectual property. also, to open up to foreign markets to companies. bring it back to pre-take care from the negotiation. the chinese basically had been lowering their cur

u.s.-china trade deal. several of china's biggest banks reported second-quarter earnings today. and a japanese automaker is investing half $1 billion in uber. shares gain as much as 2%. ♪ anna: good morning. 6:00 here in london. 9:00 in the morning in dubai. this is a picture on the asia equity sector. getting a little bit excited about trade. talkednt trump can bilaterally about trade. -- talk bilaterally about trade.

china making it more difficult for u.s. businesses to operate in china.very much in the tit-for-tat stage. in this. . there is no sense this is being different -- the escalated at all. enda thank you very much, curran. bloomberg users can interact with the charts on the program. tv go, you can use them and save them for future reference. there are many more than those. there are great charts with this function. theill continue conversation next. we will talk about the single currency. the president has apparently offered to buy btp's. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. whether you use your phone to get fit. to find meaningful, thoughtful, slightly-weird gifts. or just to know which way you're facing right now. however you use it, your wireless bill is about to cost a whole lot less. ask how you get xfinity mobile included with your xfinity internet. so you just pay for data -- by the gig or unlimited. saving you hundreds of dollars a year. plus, get $300 back when you buy a new smartphone. xfinity mob

matt: asian stocks traded mixed as china-u.s. trade negotiations produced no breakthrough and we are not seeing much of a move in other asset classes. we will show you that. the cash trade is less than 30 minutes away. guy: china-u.s. trade talks continue without much progress. $200 billion of extra trump tariffs looking inevitable. trump offers to buy italian bonds. it is reported the president made the offer to conti where they met three weeks ago. how would that work? the fed's chairman speaks at jackson hole. will powell say he is worried about what is happening to the rest of the world economy? he speaks at 10:00 a.m. eastern time. matt? matt: that is something we are all going to be glued to, especially u.s. traders, since that is 3:00 p.m. london time and it is friday. most british bankers will be off for the weekend. less than half an hour from the european open. the start of stock trading. look at futures. a little mixed trade with ftse futures down, dax and cac futures up. treasuries, little movement there. i have my thr

and china have each imposed import duties on goods worth around fifty billion u.s. dollars now american companies in china are getting on the easy to meet issue that our companies think about is the uncertainty that the conflict brings uncertainty isn't good for business it limits your ability to invest in new developments in a country that impacts your ability to hire new staff u.s. president trump is not just attacking the trade deficit with china he's also fired shots at beijing's industrial policies accusing the chinese government of paying high subsidies to companies in the tech sector like robotics and out official intelligence sectors hit by tariffs starting to hurt on both sides like at this market in beijing many have stopped ordering agricultural products from the. u.s. because they've become too expensive the new g. d's also affect items like turbines and chemicals china's retaliation targets included raw materials like coal and gas u.s. and china are two engines of the of the world economy if if if this trade will lead to and. you know slowdown will shut

has china shown any willingness to walk back from policy? the u.s. ction on tariffs but the demand goes broader than that. tom: absolutely. the longer-term focus is question -- questioning tension. the strategy is an industrial policy including subsidies for key areas that china things will be future breadwinners for the country including things like 5g, robotics automation. those issues are being discussed here. you have tencent's ceo and alibaba's ceo jack mize here, huawei is here as long as -- as well as they are u.s. counterparts. is little sign that china is prepared to back away from its industrial policy and a policy they think is key to moving up in the food chain. that will be a key sticking point for these two sides. china has shown a willingness to import extra goods from the u.s. but in terms of this it is showing no signs of backing down. we will have to see what comes out of these talks. this will be on the agenda although talks continue and the threat is you get an additional , if billion worth of goods there is no concrete outcome fro

this is my view china for some time has had a concerted strategy to transfer economic wealth from the west, from the u.s. to china. finally government is realizing that, and looking to push back. you know, my corner is obviously capital markets. that's the one area where i don't think the government understands what's happening. so that's -- that's basically what we need -- maria: tell us what's happening. there are a lot of chinese companies listed on the new york stock exchange from the nasdaq to others. ways your sentence is happening that this administration is not aware of. >> there is four legs of what china is doing in the capital mark totes damage our interests. the most of obvious is the china hustle. you have had literally hundreds of fraud lifts from china, raising steel tens of billions of dollars and nobody from the china side has been punished. but also on the u.s. side, we are financing alibaba and baidu and other chinese companies fact inquiring key technologies from the u.s. we are using the markets to finance the degradation of our strategic technologying advantage. lots of money in th

u.s. given a reprieve. how will this tightening of investment from china affect the chinese and their tech sector? you're talking about here is new legislation and that new legislation will expand the areas that the committee can review, particularly chinese investments in the u.s. was head of geo technology speaking with shery ahn. >> coming up, what you need to know to gear up for tomorrow's trading day. what'd you miss. ♪ , but offtocks rising their best levels after president trump made some remarks think he is not throw with the rate hike. >> it should make for an interesting week at jackson hole. >> it is almost like he is doubling down. barnier andichel dominic rob hold discussions in brussels. >> and cole reports their second-quarter earnings tomorrow. have a great evening. this is bloomberg. ♪ emily: i'm emily chang in san francisco, and this is "bloomberg technology." there are doubts brewing about tesla's ability to secure funding to go private. can elon musk take the deal across the finish line? has apple peaked? one analyst has slapped the company with a sell rating, warning 2019 could

u.s.-china trade war.hington and beijing each imposed a fresh round of tariffs on imports while talks entered today 2 in d.c. we welcome now scott miller from the center of strategic and international studies in washington. i want to start with your thoughts on how to proceed with talks when you continue to poke at each other this way, continuing tariff escalation while at the table trying to make things subside a little bit. >> thanks for having me on. this $16 billion has been tabled for a long time. it has gone through the process of public comment. it has been more expected. the initial tariffs proposed by the united states as a result of the section 301 investigation into chinese practices was $50 billion. so we had $34 billion in july. and the second tranche is $16 billion. so it is expected. anybodynot mean that who is affected by this is covered by the response. amanda: we have seen strong earnings, a halo effect from tax reform among both literal and perceived. at what point do real companies beco

u.s. and china. if we look at what is happening sector wise, not a lot of conviction, but we will see that eight of the 11 s&p 500 sectors .3, so lower, telecom up not a lot of conviction. energy is down .8. we do have health care at this point down slightly, up slightly. let's look at the big earners within the health care sector. lots of movements. this after the company's earnings you missed estimates and they will review options with continued pressure around generic pricing. they did put up a 1% sales miss. as for winners, look at endo day sinceeir best 2016 as their full-year view beats their specialty business strong and cvs of 3% with their full-year view beat as well, and they are saying that aetna deal is on track. let's look at oil on the day. a decent decline, down about 2%. this could be a reflection of a renewal of the trade war between the u.s. and china. investors are fearful there will be in inventories report coming out in half an hour. to round things out, disney and snap, both sha

u.s./china trade deal.alk a little bit, i know it's kind of 1iwonk but copper is a good indicator of what is happening in china. when it is weak, that indicates china is shutting down its growth and the government tinkers with all of this. it's not necessarily the consumer thinking oh, maybe we will have a trade war, we should hold on to our pocketbooks and preserve some dry powder. where do you see copper? what can our viewers infer from that when it comes to investing around the possibility? >> those of us in the business, i know you know this, we call it doctor copper. we say copper has a ph.d. in economics because there isn't global economic growth without the use of copper. copper has been very weak lately. it forecasted the volatility we saw a few weeks ago. it is trying to stabilize now. remember, china is actively trying to stimulate their economy now. it takes time for that to occur. in a few months it should start to take hold. liz: tom, thank you. it is yet another record day on wall street for t

u.s. and china.portunity presents itself, i don't want to speak for the president and get ahead of him on this tricky question you asked -- but all i know if the past is any prologue to the future, president trump enjoys bilateral discussions. mark: beijing plans to let duties ranging from 5% -- plans to levy duties ranging from 5% to 25% on u.s. imports. according to a new report from the commonwealth fund, the department of health and human services thinks the number of people enrolled in plans will go quickly from about 122,000 at the end of 2017 to 1.6 million by 2022 as people turn to them as an affordable option. say they in las vegas will likely never know what caused the gunmen to open fire on concertgoers last october. stephen paddock shot from his hotel room in the mandalay bay into a crowd of some 22,000, killing 58 and wounding hundreds more. the clark county sheriff joe lombardo made the announcement today as he made public results of the investigation into the shooting. "--ardo says pan

u.s. and china ask ole fair trade war would sixteen billion dollars into it for tat tariffs so who stands to lose the most we have a special report from one u.s. region bracing for tough times ahead and staying in the u.s. . president trump says he did nothing wrong a day after being implicated in harsh money payments with two former associates facing jail time will the president have to pay a political price. plus the former head of brazil's football federation is jailed for four years for taking bribes will look at the connection to the corruption scandal which gripped football's world governing body. i'm brian thomas a very warm welcome to the show australia's prime minister is clinging to power as a leadership crisis. cripple says government malcolm turnbull is fighting for his political life as senior ministers deserve him and contest his leadership but he says he will quit politics if his liberal party no longer supports him in a second leadership vote on friday the government has suspended parliament to try to resolve this crisis no australian prime minister has succeeded in serving

u.s. and china hold talks in washington. my dad out this morning it does show that chinese grain imports pledge. after beijing imposed tariffs on u.s. shipments. talks on reaching a new nafta agreement are going to present today in washington. the two countries are close to resolving issues that seen in the way of a striking and new deal however some washington officials have actually backed off from those comments. we get more from her own jennifer show berger. with the strength and economy. with the policy meeting earlier this month. harping on stronger consuming -- consumer spending. strengthening and the job in the job market all under my name. they do see economic growth fully down a bit in the second half of the year. from the torn pays a 4.1 percent in the second quarter. they do expect growth to remain above trend. on inflation. the close to their 2% target. they temporarily see it overshooting in part because it increases in pricing during -- due to tariffs. the negative effects from trade and agriculture prices coul

u.s. or trump. china needs the u.s. as the u.s. needs china.ford a fracture and they don't know how to handle trump. the big light went off in their head to her three weeks ago with the first batch of tariffs, and immediately trump announced the $200 billion target and that galvanized china, shocked them loinsey are girding their for a longer fight. haidi: i want to look at this chart. looking at underperformance, emerging markets as a whole has been slammed by the stronger u.s. dollar, rising rates and this trade war, but china has been the biggest underperformer, .e it the yuan or stock markets when you were in beijing, in terms of the discontent, that is something that did it because basically entirely retelling this. richard: the stock market is not a barometer for the chinese economy. it is a barometer for a different sort of sentiment. i would look beyond the stock market and look at the currency morese the currency is sensitive. we see depreciation in the chinese currency, not a large one, quite natural given rising u.s. interest more se

jenna: china is calling on the u.s. as president trump said to put tariffs on $200 billion of chinese imports next wee. isare told the president going to slap more tariffs on china when the deadline passes. the yuan fell on the report, while the dollar and yen rose as investors. safety. the u.s. is prepared to live tariffs on all u.s. products, if the u.s. does the same. the sides are expected to hold talks in the coming weeks, building in a loose agreement to work towards zero levees. trade commissioner cecilia announcement denied giving in, she said they are trying to find a positive agenda. president trump is threatening to pull out of the wto if america doesn't get better treatment. speaking to bloomberg at the white house, he said "if they don't shape up, i will withdraw." last month, the president said the u.s. is at a big disadvantage and has been treated badly by the organization. a pullout would severely damage the trading system that washington helped build. was theld say the wto worst trade deal ever made. if

u.s. and china it's become a conflict with a potential to do harm to many of the region's economies and the latest salvo from the u.s. is giving today's talks fresh urgency. the gathering is taking place amid continuing bad news for members of the association of southeast asian nations or.

u.s. or china suggesting it would retaliate. u could get towards the middle of september $250 billion on the u.s. side, $110 billion on the chinese side. in terms of the economic impact we saw the trade data yesterday still looks solid. further down the line you have warnings from ups. saying we are getting closer to the edge on this issue. we have had oxford economics crunching the numbers as saying if we get into a full-blown trade war, by 2020 you could see a cut to the overall global gdp of 0.7% for china. you could see a loss of 1.3% by 2020. that is according to oxford economics. there is no sign there is an offering for these parties. there are no official talks. rishaad: they are having a bit of a go at u.s. energy. why is that significant? risk is potentially a because china is dependent on much of its energy imports. has become increasingly dependent. it is targeted as part of the $16 billion fuel products including propane, gasoline, diesel. it has not targeted crude just yet. watched crude imports .ake up -- tick up w

u.s. and china. the council on foreign relations explains how president trump's approach to turkey is better than his predecessors. >> can the u.s. economy withstand trade tensions? how tariffs could boost inflation and hit consumers. note -- ♪ >> more about changing the nature of the trading relationships that perhaps have better economic competition with china. >> we're aware we are not seeing trump playing in this. >> why would they change their strategy? the u.s. data is very strong and u.s. equity market is very strong. >> as we have seen, the power lies with the president. >> investor reaction of renewed trade talks between the u.s. and has and larry kud lmp ow been defending the tariffs. for more on all of this let's bring in senior u.s. economist. good to have you here. we looked at the markets and saw a bump here. the most in three weeks when it came to the s&p while it talks about talks. people are looking for some hope and optimism. >> i think we need some good news on the trade front. it s

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. obviously europe is important to the u.s. economy. what elevates china in one respect is that negotiations with china are inherently more complicated. it is a lot easier to negotiate a trade agreement with a country or region that is much more like your own, so you can negotiate an agreement with the european union because you have many more aspects in common. the chinese economy is structured differently than that of europe or the united states. that makes negotiating trade agreements between them, when there are many dissimilarities, that much more difficult. a simple economy -- a simple example is the

more on this let's speak to isaac stone fish he's a senior fellow at the asia society center of u.s. china relations thank you very much for speaking to us now it's you could say that no one has anything to gain from a trade war in these tensions that we've seen between the u.s. and china and yet there is fighting talk on both sides how is this perceived inside of china. so it seems like chinese intellectuals and china is who are more critical of the communist party in the way that chairman choosing thing is taking the communist party are using the trade war and anger and worry over the trade war to criticize she who has accumulated a lot of power from self and really brought back a lot of worries that china like it did under mao is descending into a personality cults. they have can always been reports every so often about divisions within china's communist party about cracks beginning to show how do you how do you balance the with the fact that the president has a very strong grip on power in the country and there is a great deal of influence concentrated in his hands. so it's always real

u.s. and china, u.s. and russia or u.s. and turkey. there is a lot of rushing about with sanctions and tariffs. we are seeing the knock on in the currencies. let's show you what is happening first with the dollars. you can see it's sliding. the euro is heading the other way, down a quarter of a percent , and we can see the biggest movement happening with the turkish lira, now retracing some losses, 5.6%. we had above the seven handle, 7.2. after the headlines in the past few minutes, we see it going back below seven. 69 --he russian ruble, 67.9, that is the weakest in the past two years because of restrictions coming from the u.s. with regards to what has been happening with that u.k. double agent and the nerve agent attack we saw earlier this year. quick check of the close, markets on friday, good day. , really a0 and nasdaq broad basic line based on the geopolitical tensions and what is happening. sanctioning, and china, turkey and russia. take your pick. haidi: we are seeing this blow in safe havens. look at the price, things like g

u.s. and china kids each other with another sixteen billion dollars the entire who stands to lose the most we'll bring you a special report from one u.s. region bracing for tough times ahead. and also the u.s. dollar problem denies any wrongdoing a day off to be implicated in illegal much money payments which of former associates facing jail time will the president have a political price to pay. hello and welcome. mr martin with some breaking news coming from france two people have been killed and another person seriously wounded after a knife attack in the paris suburb of top french police say the attacker has been shot dead by security forces after trying to hide in a building so-called islamic state has issued a statement claiming responsibility but has offered no evidence off involvement. for the very latest let me join jake a cigar nato a freelance journalist in the french captain what more can you tell us at this point. well basically you outlined the facts very well police are saying a man has killed at least two people and seriously injured one other in a night attack on the street

some kind of truce since the younker trump meeting some two weeks ago now we have to focus on the u.s. china issue latest news there is there's no real progress so we could see some more escalation of the trade war between the u.s. and china that will be tough for markets to deal with. bearing that bank in london well saudi arabia does not take kindly to being lectured on human rights by other nations canada recently plunged into a diplomatic spat with riyadh over the release of saudi activists from detention in germany stands to lose out on new critics business contracts in the kingdom following criticism of reacts human rights record saudi crown prince mohammed bin salomon wants to modernize his country but he doesn't appear to take too well to criticism relations with germany of cooled off considerably since former german foreign minister zygmunt gabriele publicly expressed his thoughts on saudi foreign policy in november twenty seventh teen referring to saudi arabia's foreign policy gabrielle said europe has to give a united signal that we are no longer prepared to accept the adventurism

u.s. and china. not so much happening out of last week. the $200 billion of tariffs between the u.s. and china. that is set to start september 6. -- despite the lower level talks taking place last week. more pain before we get resolution. lynn,l be joined by max talking all things emerging markets. is the pain over? we had a wrist bite of weakness last week. down 6/10 of 1%. that created more of a breathing space for these asian emerging markets currencies. is that a temporary pause? we will take a look at the impact of the trade war because the assumption is as long as it trade tensions continue, as long as the fed continues its trajectory, that they would be coming from jay powell's comments, then the dollar strength is going to be the way to go from here. lots more to come on daybreak asia. that is about it for "daybreak: australia." we have trading with a new government today. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. whether you use your phone to get fit. to find meaningful, thoughtful,

u.s. and china escalate their trade disputes the two economic titans hitting each other with another sixteen billion dollars in tarot so who stands to lose the most while the special report from one u.s. region bracing for tough times also coming up. donald trump denies any wrongdoing a day after being implicated in illegal hush money payments with two former associates facing jail time will the president have to pay a political price. and australia's prime minister is facing a party mutiny that's thrown the government survival into doubt we'll look at why no australian leader has served a full term in over a decade. i'm brian thomas thanks so much for being with us we start with some breaking news just coming in from france one person has been killed two seriously wounded after a knife attack in the paris suburb of top french police say the attacker has been quote neutralized by security forces after trying to hide in a building let's go live now to lisa lois she's the the views correspondent in paris lisa what can you tell us right now. well for the time being we're just hearing news repor