u.s.-china business council. i've recently relocated from beijing so i don't know many of you that please feel free to come up afterwards and introduce yourself. i've interacted with many of your colleagues in china over the last several years. so before we get into the survey findings i did want to walk you through some of the respondent profiles of this year's survey. the survey was conducted for three weeks in june. when 100 companies respond to the survey which as great mentioned is around half of our membership. in terms of respondent profiles, the majority have operated in the china market for many years. 57% are manufacturers, 47% services, and 16% in primary industries. around 95% of respondents are in china for china. that's important because if you're operating in the china market or manufactured in the china market, then the tariffs and the bilateral relationship will impact you in a very different way. that being said, read a quarter -- about a quarter of our companies are leveraging china sport platfo

the china and the united states, to the degree the u.s. making commitments, -- that china and the u.s., to the degree the u.s. is making commitments, can both be held accountable. >> we have a presidential candidate debate going on now. would it be worth the chinese's wait to wait this out? would the conditions change drastically if we had a democrat as president? >> ironically, it seems and listening to the presidential debates that many of the democratic candidates -- seems in listening to the presidential debates that many of the democratic candidates are running to the right of the president. the democrats and the republicans agree on being tough on china. i think it would be a mistake for the chinese to think they will get a better deal if they wait. holistic thought, what are the chinese like to deal with and negotiate with compared to others? the chinese are very expert at negotiating. they are very tough. they are very focused and negotiating what is in their own national interest -- focused in negotiating what is in their own nati

china. one of the things to consider is if the u.s. upper hand on a trade war because we are less trade dependent, it is in china's interest to expand outside of the trade war. tothe united states wants win the trade conflict with china, we can. if everyone knows that, you are right to point to a risk. we can cause other trouble. the example of that to now has been north korea, where the president has been willing to cut china some slack when he saw progress was being made on north korea. i do not think it is an accident. we have your point, seen some more missile launches from north korea as well. american enterprise resident scholar derek scissors, thanks for a much for joining us. we have more ahead on "daybreak asia." stay with us. this is bloomberg. ♪ shery: let's get a quick check of the latest business flash headlines. pershing square -- said to have quit his position. we are told he decided to sell the united rather than fight its takeover. he had opposed the deal in june saying it lacks strategic sense. he says his dropped payr

u.s.-china trade talks.tizens of the united dates, myself and my colleagues in china, we would love to see a u.s.-china trade to because it would probably help both countries, but as we said before, we want to talk directly to the u.s. government. oaks think because there's the will be thewe subject of trade talks, that means everything is political. the fact is we believe there will be certain restrictions placed on huawei just as there are on ericsson and nokia and we are happy to talk with the u.s. government about that. >> how are you trying to allay concerns over government issues? >> when we have the opportunity to talk to the u.s. government, about provenlk risk mitigation methods that have set of side -- satisfied the u.s. government that have allowed nokia and ericsson to do business in the united rates -- in theeir did ties united states their deep ties to china. country likes to have things specialized for themselves and we are happy to talk about that. >> one of the issues is that course, is a ch

we are talking about minimum $20 billion trade surplus with the u.s. china does tick. but we're not talking about repeated interventions in the currency markets or current accounts in excess of 3% of g.d.p. the fact that the treasury department went ahead with labeling currency ma -- china a currency manipulater will have to wait to see on what basis that has been done. there are analysts who have said there could be a currency manipulater designation through the older, 1988 omnibus trade and competitiveness act. which gives more leeway for the treasury department to rely more heavily on this act, on a more subjective assessment. so let's see how things are shaping up in asia as we continue to see these developing tensions between the u.s. and china. selina: that's right. the big red headline today across the terminal is the fact that china's being labeled as a currency manipulater and that is after we saw the offshore and onshore yuan blow past that seven levels. that offshore at 7.1 against the dollar. remember, this is the first time since 2008 for the currency to re

a global spillover from the u.s. china tariff dispute investors saved better safe than sorry sticking to the golden dawn says central banks and now i'm surprised great caught. by you don't have to take our word for it our financial correspondent takes the pulse of the markets with one of wall street meeting traders and financial advisors silver bear capitals director of floor trading alan valdes. and shipping sheep in the summer here at top speed to meet demand in north africa where prices are surging prior to the holiday. this is d.w. business i'm joined on in berlin welcome it may be called the u.s. china trade war but it could be the world economy loses out fears of a steadily dimming outlook as investors dumping stocks and running for safe haven. india the country where gold prices have soared to an all time high it was one of 3 countries to take markets by surprise on wednesday the indian central bank cut its benchmark rate by 35 basis points more than analysts expected. but india wasn't the only surprise for investor

it only seems to be one topic for the past month i would say trade between china and the u.s. so how concerned are you overall you know your 100 percent right and that's been moving the markets whether it's tweets from china tweets from our president the white house it's been moving this market at superspeed and you know at 1st when we 1st got involved in this trade war i thought i know a lot of people thought ok be over a month maybe 3 months most now we're going on over a year it is very concerning but it's amazing it really hasn't affected the u.s. economy which has been so strong i mean inflation stays consistently low i thought it come up a little it hasn't consumer spending still robust unemployment still strong. i mean overall the economy so acting very well do you believe that the deal between the 2 biggest economies on the planet is still possible it's good and hard hard but yeah i do think it's possible and i think we saw it this week the chinese basically said they're not going to get any more agricultural products but we're the only one that really can supply mass s

u.s.-china trade war is escalating. asian stocks heading for the biggest selloff this year after china's yuan fell past the key seven per dollar level. due to the tariffs on chinese goods. china has ordered state-owned enterprises to suspend imports of american agricultural products. what else is china trying to signal today? enda: it seems they are sending a message back that they will up the ante when it comes to a trade war. they made it clear that what they can do on the currency side of things. we had news that they're not willing to buy u.s. agricultural products either. a blow to one of president trump's core demands. jonathan: the president this morning his response to issues in the currency market. "china dropped the price of their currency to almost a historic low. it is called currency manipulation. are you listening, federal reserve? this is a major violation that will greatly weaken china over time." >> well, here we go again. china would not use foreign-exchange as a tool the trade dispute and saying in a s

u.s. and china. g that we are most worried about is, should there be unilaterally sanctions taken by the u.s. against us, if we continue to trade for china. our position is that we want to continue trading with china. >> there are some concerns. china has already -- the u.s. has taken action against some of the countries it deems as having trade deficits, the likes of china, germany, canada. in asia, malaysia is among those in the top 10, including the likes of india. are you concerned that the u.s. will take action against you? >> we are concerned. if this thing were to happen, we have to tell the u.s., you are being unfair. you are being a big bully. >> do you think the u.s. will buy that? >> we know the u.s. ♪ >> the trump administration's decision to label china a currency manipulator raised the temperature in that relationship. among those who raised their eyebrows at the move was the former u.s. treasury secretary. he discussed it with us on bloomberg daybreak americas. >> now, declaring china t

u.s.-china trade turmoil turning to currency. the u.s. g this morning. what it means for the economy and trade negotiations. we're taking a look at a bounce for stock prices this morning. dow futures right now up 230 points, after yesterday's broad selloff sparked by the chinese yuan falling to an 11-year low against the dollar. the dow, nasdaq and s&p seeing their worst day of the year yesterday with the dow down 767 points, the s&p down 87, the nasdaq down 278. global markets this morning, as you see, the fq100 is up 8 points, cac up 51, dax up 76. we did have economic data out of germany, factory orders rebounded, up 2 and-a-half percent, higher than economists were expecting. in asia overnight it was red across the board but off of session lows. take a look at china, shanghai composite down one and-a-half percent when all was said and done. the costly impact of the higher minimum wage, new york business owners say it's forcing them to cut jobs of. what it could means as politicians rush for a national increase in the minimum wage. and

what we don't know what was discussed between officials of the china and the u.s. the phone call. they were waiting on purchases from china on agricultural goods and other promises. really the continuation of trade talks. we don't know what kind of promises were given in exchange for this delay. as you said, it is about $110 billion of goods that will still be at in september. december, about $160 billion of goods. it is not that these tariffs aren't going to happen, it is just a staggered timeline. emily: we are learning that the chinese vice premier had a phone conversation with robert lighthizer and secretary mnuchin. one step forward, two steps back. how optimistic are you that they will come to an agreement? >> there is a little bit of a cycle here. talks, hiatus, more sanctions. talks, hiatus, more sanctions. we have seen repeat of this times.6, 7, 8 are we at the end of the process or in the middle of the process? it is difficult to say. these tariffs will have a severe impact for many people including sporting goods, apparel, and other goods such as toys. w

u.s. dollar down. tom: what about leakages? china-u.s., u.s.there are massive leakages within the foreign exchange market. what is the pear we should watch away from dollar renminbi? >> clearly safe havens, dollar-yen, but also the swiss asia fx market because of the drop off in renminbi we expect asian currencies to be under tremendous depreciation pressure and remain for some time as long as the trade war is unsolved. tom: when you look at the discussions of the last 48 hours and the carnage in the market, our politicians aware of the second and third order knock on effects? >> may be aware but they may not be interested because the focus now is on the u.s. and china politicians and they have a lot to lose. the political trust is destroyed and i do not think they will focus on the global impact. for central banks, that is something they have to look at. tom: daniel morris, yesterday, the vanilla to send spread in the united states, like a cocktail conversation, barely moved. what we saw yesterday was a bond back on economic slowdown. how much

but china is being hurt more by this than the u.s. is. >> no structural change yet, but it feels like every time we get close to resolution, it heats up, it doesn't cool off. rob morgan, thank you. >> thanks. >>> when we come back, strong words from china's state media as the u.s. designates china a currency manipulator, using that designation for the first time since the clinton administration we'll take you live to beijing with what they're saying next. >>> and stocks not the only sector getting hammered yesterday. oil and oil names also taking it on the chin. how low can oil go the three key factors you need to watch when "worldwide exchange" comes back ♪ you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. so, eve

u.s. cdc, china cdc, china fda, u.s. fda, can help the collaborations -- influence of surveillance that that they brings, signing an agreement for capacity, then chinese putting in more than $400 million into building these labs all over the country, more than 500 at capacity, providing data and sharing the data for both countries. see, what isen we the target? that is some of the data used for international organizations. term, if we want to address the fentanyl issues, i -- theirengage china leaders are very sensitive to international opinions, and they want to be part of the global governance. framed as at as synthetic drug problem. yesterday i saw a report saying opiates, thehe illegal opiate production, is actually in africa. tramadol. certainly we are all focusing on fentanyl but there are larger epidemics out there. bringing china in as an active player, that coalition i think will be the fastest way to get their attention and bring their priorities so it can change their policy. >> and i appreciate all of that. c

the u.s. china trade war is still ongoing with no end in sight and with rattle markets in recent weeks many fear a possible recession but president donald trump claims were far from it. i think the word recession is a word that's inappropriate because it's just a word that the. the a certain people are going to be kind of certain people in the media are trying to build up because they'd love to see a recession we're very far from recession he went on to say the u.s. economy is doing very well adding china wants to make a deal the fact is somebody had to take china in my life would be a lot easier if i didn't take china on but i like doing it because i have to do it trump shocks global markets earlier this month when he announced adding another 10 percent tariff on $300000000000.00 in chinese imports scheduled to take effect september 1st and impacts mostly consumer goods we spoke to vice chairman of hong kong's apparel society for some perspective everyone is quite prepared and there has been a lot

u.s. and china.ld say if were talking about january and february for the reprieve, let's say they were supposed to go into effect in january and then moved it to march, investors would be overreacting. we saw and 8% jump in the stock price today. the move from september 1 to mid december specifically for the iphone, ipad and macbook align. that is very significant, because a lot of new phones will hold between september 21 -- sold between september 21 and september 22 and the holidays. december 15 is the in when people are going to shell out a ton of money for holiday gifts. that period is really important for apple. emily: thanks so much, mark. that does it for this edition of "bloomberg technology." we are livestreaming on twitter. find us there @technology. follow us on tictoc on twitter as well. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you

u.s. and in china. because you need a lot collaboration and cross-exchange of ideas for innovation to happen but if everyone's just stuck in their own echochamber, that gets stifled. so i think these will have long-term implications here. >> ann lee, dan flaks, thank you both for joining us. >> thank you >>> and when we return, stocks erasing their early gains. the dow is dipping into negative territory briefly just a few moments ago. now bumping around the flat line meanwhile, europe set to close in just a few minutes. we'll get a live report on today's action overseas, next. >>> welcome back stocks erasing their early gains with the dow turning negative moments ago, following a dramatic sell-off after increased trade tensions between the china and the u.s. our next guest says the numbers on that trade war is in and the u.s. is losing joining us now from aspen is ceo and chairman of pag, asia's largest private equity firm. good morning >> good morning. >> the trump administration, the president himself

i guess the two significant developments between china and u.s., is china allowed their currency to deprecate through the psychological level of 7 and overnight the u.s. labeled china a currency manipulator what do you make of those developments >> i guess the key message is that the persistent trade war and related uncertainty that we've seen so far is likely to drag on for longer the chinese move on the currency front means it escalated to an fx war so china is no longer hesitant to use the currency as a weapon. it's not really that surprising. the chinese policymakers use either property prices, stimulating property prices, fiscal policy or credit stimulus as measures to stimulate the economy. they also have this long-term or medium term plan to de-leverage. so they stayed away from credit and property market so what they're left with now is the currenc currency >> let's take this back to the market and the implication this means for the markets. we had a huge day of volatility yesterday in equities and currencies it looks like we're entering into a new paradigm now. the authorities only h

keeps ratcheting up the heat on china in the trade war, a new u.s. is targeting beijing. the cybersecurity and infrastructure security agency known as the cisas says china represents the greatest strategic risk to the u.s., therefore the agency's top priority is to guard against tech supply chain risks coming out of china. to discuss, bloomberg cybersecurity reporter william. we also have ryan, the executive vice president of the cyber security firm proof point. what does this mean? how does this agency intend to protect the u.s. tech supply chain from china's threat? william: we heard from the director yesterday who outlined the agency strategy for the next five years. president trump signed the law that created this agency that sits inside the dhs. it did not really start to get going until february 2019 because of the shutdown. now, they are planning with the agency is going to do. they said china is the top threat. what does that mean? it is hard to know because cisa does not have a lot of power to force anybody to do anything. a collaborative ag

u.s. and china that's already rattling the global economy has been taken to a new level by the u.s. president as leaders of the g. 7 nations prepare to gather in france donald trump increased tariffs even more on hundreds of billions of dollars worth of chinese goods and he then court ordered u.s. companies to pull out of the country with a little more g 7 in a moment starting though with this report from hadija castro in washington. the trade war between the world's 2 largest economies just boiled over in the span of 280 characters on friday just after u.s. stock markets closed u.s. president donald trump announced via twitter starting on october 1st the $250000000000.00 of goods and products from china currently being taxed at 25 percent will be taxed at 30 percent additionally the remaining $300000000000.00 of goods and products from china that was being taxed from september 1st at 10 percent will now be taxed at 15 percent this was true. after beijing announced a few hours earlier that china will tax an additional $75000000000.00 worth of u.s. goods also starting next month that

u.s. farmers. china is stepping away from further u.s. agricultural imports. more on that next. is is bloomberg. ♪ vonnie: and this is "bloomberg markets." i'm vonnie quinn. yuan plunging today. the other big news is on the agricultural front. china has asked state owned enterprises to suspend purchases of agricultural products. so where does this leave the american farmer and what about commodity prices? corn, those are just some of the agricultural commodities impacted. what should we look to for direction on this? >> we are going to have to look for where the trade talks go. any resumption of chinese purchases in the u.s. will depend on how trade talks progress. there was a lot of hope in the market that with the tops having resumed last week, we would see agriculturals of commodities like ethanol, sore gum, more soybeans. the talks suddenly soured. the talks suddenly soured. trump announced on thursday more tariffs on china. as a result, we see china acted back. looking at prices, we have seen soybeans, hogs, today. prices have recovered a little bit. there is a little bit of

secondly i will summarize u.s. chinaollaborations on health and their differences in the approach. lastly i will give some recommendations. china's current global health assistance can be grouped into five categories. china's medical team, their hospital clinic constructions, medicine and medical equipment donations, health related humanitarian aid and disaster relief programs and health professional training programs. the chinese medical team and hospital construction have the longest history. dated back to 1959 china built a tv hospital for mongolia and back in 1963 they dispatched their first medical team to algeria during the war. over the past years, china has built more than 150 hospitals dispatched more than 25,000 medical professionals to 69 countries. these activities help to fill and some of the gaps when there is a severe lacking of health professionals and the basic health infrastructures in resource support areas. more recently china has suppressed the global health community with its timely and unprecedente

u.s.-china relations. this is brought to us with a kind sponsorship of the carnegie corporation of new york which has been a supporter of the dialog that lies behind this event which i'll explain in just a second and i'll introduce our terrific panel in a second and invite them up. first let me make a couple of administrative announcements. as usual, please silence your phones and if there's any kind of emergency, which is unlikely, we've never had that problem, just follow me. that are emergencies hears and at national geographic one street down on m street. and i think that is all i need to say administratively. let me just say that the actual narrow reason for this event is that we're going to be rolling out a series, a collection of essays that have been written by u.s. and chinese scholars in parallel, separately produced by u.s. and chinese scholars, on the global economic order. unfortunately, and it's my fault because i'm not hard enough a task master, the actual essays are in publication and they'

to take sides in the u.s. china trade war. >> to be more friendly with china or with asian neighbors would mean decrease our friendship or our relations with the united states. and i do not believe in that. i do not believe that the philippines should choose between the u.s. and china. robredo. hasapore the city state seen growth at zero to 1% this year. the outlook has darkened in recent months. the trade war has raised the prospect of a recession and job losses. 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. this is bloomberg. >> coming up, another embattled leader after argentina's assets plunge, president mauricio macri warns against a return to the previous return -- previous regime. toand when you're traveling work, tune into bloomberg radio live on your mobile device or on dab on digital radio in the london area. this is bloomberg. >> good morning this is bloomberg daybreak europe. in on the markets in asia. risk off o

u.s. investments in china benefit the u.s. economies. companies have benefited greatly from the growth opportunities arising china has provided mostly through rapidly growing exports. important to note companies invest in china to access and serve china's domestic market but the revenue that they raise in china offers a growth and innovation in the united states. in 2015 our latest numbers u.s. exports to china directly and in direct we supported one point a million jobs in the united states. the economic benefits generated from u.s. investment in china and chinese investments in the u.s. are combined the total jumps to 2.6 million american jobs. the health care there is an important part of the story to u.s. exports of pharmaceuticals to china raised $3 billion in 2018 as the biopharmaceutical industry supports 4.7 million u.s. jobs. the medical device industry supports 2 million u.s. jobs. china has become the world's second-largest market versus pharmaceuticals and fourth-largest market for medical equipment in this market is growing r

u.s. and china.at will impact global economic growth, which trickles down and impacts feel demand. demand.demand and oil there have been other things traders are watching. there continues to be tension in the strait of hormuz. iran has seized several tankers. traders are watching that. it is really important for energy markets. throughd of oil flows the strait of hormuz. fairly any tension there could impact prices. they are shrugging off the tensions so far. another bearish factor reported yesterday, the u.s. government said oil inventories expanded for the first time in eight weeks. gasoline inventories also rose. that suggests weakening feel demand in the u.s.. -- fuel demand in the u.s.. the factor is the u.s.-china trade war and economic weakness for oil demand. paul: aaron clark in tokyo, thank you for joining us. still ahead, the exclusive interview with mike wells, the ceo, joining us live from kuala lumpur later. sophie: china is set to release the trade numbers. with a china economist. this

u.s./china trade war flaring up again. meaning an industry that was counting on china to rev up profits has shifted gears and must accept slower growth in the futu phil lebeau, "nightly buness report," chicago. >>> then there's the technology industry. arguab one of the most influential sectors in the markets because of its weighng in the s&p 500. josh lipton looks at the potential fallout. >> reporter: many tech companies count on china as an important market and depart of their supply chains. ke the semiconductor industry. it does a lot of business in china. according to one estimate, there are some compani in that sector generating more than half of their revenue in that country. don'tforget apple. china represents an estimated 12% of its sales. it's also where the company assembles many of its products like iphones and ipads. there's a big date coming up for apple, september 1st,ts when wearable like t watch and air pods could get hit with a 15% tariff. given trade tensions some analysts think a smart bet for tech inves

col impose on china but china faces u.s. tariffs. blook berg is pointing out china does president meet the three categories ta do determine whether a country is a manipulator. and china has been stepping in to step in rather to lead et too appreciate it. and they have put out a statement that they are more tolerant. other commentary from the we won't see a depreciation in assets. but certainlyly in what it means in china's economy, sources may gain but risks and risks for those corporations that hold u.s. dominated debt. >> and let's bring you into this conversation. what do you make of that and the announcement? >> what we are seeing today is a message, cool down, folks. yes, we are going the allow it to align it in market forces. what we have seen today is a shout across the bows. for the first meages is the bills. they do it from time to time. they issue bills in the hong kong market. and helps to race short-term interest rates. the amount they are doing, three and 12 months isn't enough to change the direction but changes the liqu

u.s. announces another round of terrorists against china. also coming up with less than 100 days until the u.k. is due to leave the european union britain's new prime minister faces growing opposition to this brics it commands. welcome to do that your business i want to get johns in berlin good to have you with us u.s. president has a drastically upped the stakes in the u.s. china trade war trump took to twitter to impose a fresh 10 percent tariff on $300000000000.00 worth of chinese goods this week's trade talks made no progress the decision came as a surprise and costs turbulence on the financial markets the u.s. has already imposed tariffs on $250000000000.00 in chinese imports this means practically every single product imported from china will be charged with a duty now china's foreign minister wang me criticized us rules saying you terrorists are not constructive residents in beijing are taking the latest development in stride. this continent where you china will be affected but the impact won't be great up most of the affected busines

china asking importers not to buy u.s. agricultural products. is is what we are seeing in the markets in the asian markets. you don't see china itself on the gmm, it's not the worst performer today. featuring inna terms of stimulus measures. you see china featuring strongly on the ethics part of the gmm guess we have very as of the chinese currency all showing a seven handle. this is one of the big moves in the fx market, and we should also talk about the yen, a lot of money going into the japanese currency as a sign of searching for havens. on the other side, more of a haven flow, havens as portrayed hereby sovereign bonds. money going into sovereign bonds. eye on what is going on in commodities, because hit seeing iron ore prices hard this morning. not quite decimated. down 8.2% this morning. they are considerably weaker. we will keep an eye on the start of the european trading day and what we see for mining stocks as a result. plenty to talk about today. our lives strategist in singapore joins us to talk us through what has been going on. how

2000 u.s. china failed trade agreement itt enabled multinational -- is because of china the lack of competitiveness. it does not reflect a clear strategy like china against the u.s.. the technology used to make not theugs -- china is only country that can make these drugs. china became the leading producer and exporter because the cost to make it is low. we have alternatives available but they are more expensive. >> perhaps the president should throw tariffs. -- to drive the production somewhere else where they do unannounced visits. >> let me say something. drugnal security -- the ingestion security of the american people is a national security problem. whether it is a traditional national security problem or not it is a national security problem. i think we view that this way. i am done for now. you didn't answer my question about how comfortable you are with us being so dependent for country that is not allowing the most fundamental private inspections to exist. i am not addressing the question of

china? is a coldople say it war, it's not like it was with the u.s. and russia. china and the u.s. igned at the hip economically. the idea that china's massive consumption population not want goods is unfounded. that's not going to happen. what you need to do is aligned with the government and the private sector need that expertise. i think you'll see a bifurcation where some companies double down on capex and they can really partner with the chinese economy to do well. there will be others that fold their tents. ♪ ♪ >> this is bloomberg best. i'm nejra cehic. let's resume our wrapup of the week's top news in business, finance, and politics in hong kong. protests show no signs of abating. >> disruptions in hong kong are entering a ninth straight week. thousands of protesters have moved to shut down the asian financial hub, leaving traffic stalled, subways in operable. over 100 flights were canceled. >> this is a movement that is not slowing down because they feel that the government is not listening to them. really, bringing a city of 7 million to its knees. it was too full. they ca

china's activities in the u.s. biotech sector has fueled technology transfer enabling the rapid development of china's domestic industry. chinese companies have accumulated private and medical data on millions of our people. earlier this year, federal prosecutors charged to chinese nationals for the 2015 act of health insurance giant anthem that resulted in the theft of nearly 80 million americans' health data. but unlike similar attacks, it was targeted at acquiring longitudinal patient data to support the health care sector, including new drugs and treatments. these are the confidential health records that are doctors and health care professionals keep. while health care should be a area for corporation in addressing many of the world's most challenging problems, we have to ask whether we can protect u.s. intellectual property and valuable health data well deepening collaboration. scientific research should not be subject to competitive games and strategies. health and biotech firms meanwhile continue to face regu

china try to strength the yuan. this after u.s. labeled china u.s. -- a manipulator. we have a report from washington d.c. talks are in place for september. will they take lace? sean: -- place? sean: that is the question. the white house said they do expect the chinese delegation to visit very we have not heard from the chinese and probably won't until we got closer to that day. warningchina sent out a signal and may have backed off, was this all on the part of china or did they need to back we because suddenly the yuan can so much it was in trouble? what we are looking at, it seems, is the chinese trying to send a signal that they are more measured in their approach to retaliation and escalation in these trade wars and perhaps the top administration move yesterday in the currency forced the hand of the chump administration. -- of the trump administration. by declaring china a currency manipulator, in some ways it is a symbolic gesture rather than a real action. it sets the stage for a year of negotiations. that is not something that will change very much. china seems

u.s. embassy in beijing. andy, let me begin with you. there's some things china can do, obviously, letting the currency float down is one of them they can put tariffs on u.s. imports, but there aren't as many u.s. imports for them to tariff how do you think they might retaliate with what the u.s. has done by way of tariffs and for example, if those tariffs go from 10% all the way to 25% on that extra $300 billion? >> hi, tyler well, i don't think retaliation is at the top of their list right now. they have already done a lot, which has had more of a political impact in the united states than economic in terms of what's happened to farmers i think they're just going to wait it out because i think they believe, and i believe, and i think larry kudlow seems to believe, listening to the quote that you just played, that president trump understands that a deal is better for his re-election prospects than no deal because of the impact on american consumers and farmers and also on markets as you have been talking about i think they're looking to get president trump to ag

u.s.-china trade war.used beijing of not doing enough to curb exports of the highly addictive painkiller as u.s. deaths from the drug skyrocketed. the white house decided this was a reason to raise tariffs on china, but china's narcotics regulator denies the claim. here is his exclusive conversation with tom mackenzie. ♪ politicians out of their own political necessity fault,rd the facts, find make small things big and turn black into white. it is supposed to be a simple problem that became complicated, and clean water is muddied. sanctionedrecently read chinese nationals and two companies operating in china. actionu be taking against these individuals? will you be taking action against the companies that produce fentanyl products? at the time that these people were making these substances, the chinese government hasn't announced the controls. what these people were doing didn't violate china law. but some in the u.s. political circle take issue with this and want to implement sanctions, which is not const

china has already -- the u.s. action against some of tradeuntries it says have deficits the likes of china, germany, canada. in asia, malaysia is among those in the top 10 including the likes of india. are you concerned that the u.s. will take action against you? >> we are concerned. happen, weng were to have to tell the u.s., you are being unfair. you are being a big bully. >> do you think the u.s. will fight back? >> we know the u.s.. ♪ the trump administration's decision to label china a currency manipulator raise the temperature in that relationship. among those who raise their eyebrows at the move was the former u.s. treasury secretary. he discussed it with us on bloomberg -- bloomberg daybreak americas. >> now, the clearing china to be a manipulator raises the specter of some kind of further retaliation, raises the specter of a situation where it will be more difficult on grounds of yes toor china to say u.s. demands. therefore, raises the risks of a cycle of financial conflict. is, that is coming at a time w

further retaliation and then there's a 3rd angle to this whole story which just china is making it more difficult for the u.s. to trade with china but it's a lot and it's carrots for other countries and so other countries will be gaining. a just wanted to go back to your 1st point about the u.s. consumer i mean the u.s. economy is looking extremely robust right now i'd like to know when this is going to actually hurt the u.s. economy. i would say i would say that it is already hurting the u.s. economy your source for example in jobs in manufacturing jobs and it's going to hurt it a lot more and it's just that we haven't seen the pain of it transfer yet because the tariffs have gone more age of producers and trump has. alleviated some of the show i can effect of this of buy out subsidies for farmers but it's these subsidies don't come you don't don't fall from the air they are the they come from the american taxpayer ultimately so i would expect to see these translate these costs translate into the american economy in general and i would expect to see more of an increasing backlash but this is early lead this

china taking steps to weaken the yuan. the move came after the u.s. as a currency manipulator. here with the story is bloomberg's shery ahn. what does it say that the u.s. comes in with a slightly stronger fix? they come in this morning telling foreign companies not to expect a whole lot more yuan weakness? does this signal anything other than them looking out for where the currency should be? shery: that is where the market took it. expectations were much lower than what was actually sent out by the pboc. despite the fact that the u.s. labeled china a currency manipulator, they did not go on the yuan freefall direction. you're looking at the chart of yuan direction and seeing the correlation. this in fact also shows you that, despite the fact that note perhaps the pboc is sending the signal that they are engaging in the currency war, but continued weakness in the yuan, still above that seven level, other currencies across asia and the world could continue to put pressure on them as well. offshore, 705.d another development overnight out of australia w

u.s. and china to blame. ing the sell button last week of after president trump announced the u.s. may impose 10% tariffs on another $300 billion worth of chinese imports as of september 1st. the latest round of trade talks ended with no may r juror pro -- major progress reported. president trump ordered the new tariffs even though there were clear objections from his own advisors. cheryl: peter navarro appeared on fox news sunday and brushed off claims that american consumers will pay more because of tariffs, he said it's not tariffs but the federal reserve which is the biggest threat to the u.s. economy. >> these people who are putting out this information are the same multinational corporations that shipped off our jobs to china. we've lost over 70,000 factories to china, over 5 million manufacturing jobs. i'm just telling you, we're not seeing this in the data. china, the value of their currency since we put the tariffs in place, by almost 10%, we're talking about putting 10% tariffs on the remaining $300

u.s. and china. i'm sorry is a band this is al jazeera live from coming up turkey says a joint control center set up a safe zone in northeast syria is fully operational. the u.s. criticizes me in mass handling of the rangar crisis portions he says the ethnic minority is still facing abuse. take gas and roadblocks in hong kong as protesters target transport to new rallies against the government. the trade war between the u.s. and china that's already rattling the global economy is being taken to a new level by the u.s. president as leaders of the g. 7 nations gather in france don't trump increase tariffs even more and hundreds of billions of dollars worth of chinese goods and he ordered u.s. companies to pull out of the country that this food is just one of the issues competing for their attention the 1st tariffs are due to come into force in a week's time. french president obama micron and germany's angela merkel are also demanding urgent talks on the fires engulfing the amazon rain forest and there's

if china makes life harder for u.s. ch companies, that could hit big names like apple and all sorts of companies on the west coast that are depending on china. china is a big market for their products and a place of production. a lot of options in china's corner and we have to wait and see what they choose to come up with. david: sarah mcgregor reporting from los angeles. let's go to london. emma chandra. jeremy corbyn has that he is willing to serve as prime minister. that did not come as a surprise. is that news? emma: it would not come as a surprise. what he has done is come up with a new plan. in order to try to stop a no deal brexit, yes ring to other parties, some tory rebels suggest -- he has written to other parties suggesting he take over as a interim prime minister if they would back a no-confidence vote in boris johnson and he would take over as a time-limited national unity government, thereby delaying brexit while and general election could be called an sending things back to the british people to decide who

taxes on gold to 12.5 percent from 10 percent but market observers put most of the blame on the u.s. china trade war. affecting news. because of. the u.s. war. america has increased 10 percent on products coming from china so for now the only way for prices may be up. now to some of the other business stories making news chinese tech giant 10 cent is and talks to buy up to 20 percent of the world's biggest music label universal is home to the rolling stones lady gaga and taylor swift french owners at vivendi want to break into china's growing but tightly controlled music market. officials continue to sound the alarm over facebook's plan cryptocurrency leave brought in an open letter global regulators have asked facebook to clarify what practices will be used to protect personal information and to ensure a transaction histories would not be shared with 3rd parties without user consent the united nations says the war in yemen is the world's worst humanitarian crisis millions of people have been this place and are in need of aid and there is chronic unemployment and surging food prices our co

u.s. business to export rice to china. it ces amid that ongoing u.s./china trade war.rewer is in arbuckles, california. >> reporter: ken's family has been growing rice in california for five generations, for almost 100 years. trade tensions are nothi new. >> it is a bit like you just ride along and you wait, and these things tend to work out. >> reporter: free trade has become increasingly important to la grand's sun valley rice, a $100 million company growing, milling and disibuting all over the world. a third of all of the rice that comes out of this plant is exported to europe, the middle east, japan and korea, but la grand wanted to do sometanng americice growers have never done, sell to china. he spent 15 years and a million dollars at least to open the market to clear regulatory hurdles and win approval fromhi these government. al june, in the midst of a trade war, suny landed its first chinese contract. >> my first reaction was of disbelief. i couldn't believe it had finally happened. in reporter: the entire industry is couon this deal. the profit margins on ric