thursday and friday, where are we on the one hand on china agreeing to buy $200 billion more of u.s. goods in return for the u.s. dropping tariffs on $150 billion of chinese goods? >> well, chris, i'm pleased to report that we've made very meaningful progress and we agreed on a framework, which is

officials say china plans to buy $200 billion in u.s. goodsmaking a big concession to president trump and now this morning china's foreign minister throwing cold water on that. in washington it's round two of trade talks between the u.s. and china. u.s. officials say china offered to buy more in u.s. goods, slashing the trade deficit by $200 billion. and then china denies it. that top line number matches what the u.s. demanded in beijing two weeks ago. if this were to happen, china would struggle to buy $200 billion more in u.s. goods. it only bought $130 billion overall last year. the two biggest purchases were planes and soy beans. a deal could ramp up sales for boeing if they were to try to reach that $200 billion number, or china would have to eliminate the tariffs on farm products. also unclear what china wants in return. though the u.s. is working to lift a crippling ban on china company zte. news just now from china's foreign ministry that, no, they have not offered to do that. bilateral consultations are still under way, an untrue rumo

axis reported that he's on the verge of a deal that would have china accelerate its purchase of u.s. goods in the name of reducing or trade deficits. in exchange for us dropping the three oh one tariffs -- 301 tariffs. second, when he finally did strong actions against china the president backs off. he tweeted that he and president she are working together to give massey chinese phone companies into business fast because too many jobs in china loss. what about jobs in america mr. president? what about the millions of jobs that are lost because of what china has done? the president was relating to the violations of u.s. sanctions in iran and north korea and could be further restricted by banning u.s. telecom companies that receive funds from purchasing services like dte. why? because they pose a national security threat to u.s. communications networks. the president who prides himself on keeping a secure will let them continue to do this despite what the experts say? why on earth would president trump promised to help the chinese telecom company that has this and it's a risk to our national

u.s. under this deal would suit it so from what i see it doesn't take much to appease donald trump beijing has got the deal its hands here it's got a good deal that's a failed savation given how restrictive china has been in the old economic speech i think what the u.s. wants us but china to ease some of its market boundaries and that's something that even the e.u. has found quite challenging in trouble so to work around at the same time trump has to find a way to be to go with china because his tensions have somewhat backfired the chinese also have to be very careful not to be too optimistic about eight inches between the you with the u.s. and in an extreme point of view it is quite ready to quietly ready to defend its industrial plans with or without the u.s. and i hang we appreciate your analysis from singapore there thank you. venezuela is mulling a bleak future nicolas maduro has won reelection the man in charge of an economy in freefall hyper inflation is at a particular level venezuelans continue to leave in droves lining up of border crossings for hours just to get out for those who stay the tough times could get even tougher no

soft commodities moving higher on the hopes that china will buy more u.s. goods. some of the winners, soybeans, cotton. coming up, a truckers' strike against rising diesel prices has put brazil's government in a corner. the latest from rio. this is "bloomberg: commodities edge." ♪ alix: i am alix steel, and this is "bloomberg: commodities edge." it is time for the data dig where we delve deep into market trends. natural gas inventory numbers out this week. we saw a build of 91 billion cubic feet, but overall inventories below the five-year average. natural gas are still under three dollars mnbtu. the big news for oil inventory was the build surprise. crude stocks built by 5.8 million barrels. exports falling, imports rose, and a result was the wti blowing out. premium rising. i am also digging into power prices. the pgm auction was widely watched in the power market. here is the result. suppliers to the grid are going to get $140 in megawatts per year starting in june 2021. a lot higher than expected, up 83% from last year. you have got prices driven by a slowdown

. >> maria: did china agree to take $200 billion out of -- to spend $200 billion on u.s. goods? >> well, we agreed with a frame framework for going forward that had a number of elements to it. it had some specific thoughts on specific products which we'll be trying to flush out and it covered lots of other things, the intellectual property, forced technology transfers, a whole gamut of things. but it's not a definitive agreement. it's a framework. >> maria: so are you saying that china then admits to intellectual property theft? >> i didn't say they admitted to anything. i said the issues we addressed were the ones that i just described. >> maria: right. because what i'm asking is, if they're not even admitting that they steal our intellectual property, how are they going to agree to have any changes? that is the issue, right, the theft of intellectual property and the forced transfer of technology. what about that framework addresses those things? >> the framework went into a number of potential legislative changes, very all-encompassing thing. for the moment it's at the 40,000

the language in there says china has agreed to significantly increase its purchases of u.s. goods. how much and what are they buying? >> we'll see. >> brennan: no specific agreement yet? >> what you're getting here is, the negotiations are proceeding very well. we're on the same page. too early for exact, precise details. maybe i got ahead of the curve but the number 200 billion deficit reduction which is something that president likes has been around by all the people on both sides. but it's too soon to lock that in. i just think the direction here is the key. i just want to add, if we can get success here, if china opens up, if we move to much more balanced fair trading this is going to be terrific for the american economy. we're the most competitive economy in the world right now. after the tax reduction, after the regulatory roll back. >> brennan: but the risk of still putting tariffs on that could hurt agricultural exports. >> i beg your pardon? >> brennan: the risk of putting tariffs on that could hurt agricultural exports for this country is that still something american far

and this is of grave concern given the fact that canada has announced for tally atory measures on u.s. goods that could take effect july first if the u.s. does not change course that are substantial twenty five percent and ten percent respectively so given the fact that the u.s. is facing from multiple countries trade actions challenges saying that the actions that the u.s. has done is illegal there certainly is concerned by prominent members of congress that say that well donald trump a set out to protect is manufacturing base and deliver on a campaign promise to protect american steel workers american lumina workers he may be hurting other sectors of the u.s. economy by these actions and this comes just before the u.s. is set to meet. seven meeting in canada and. how awkward could some it end up being for president trump. tremendously and in fact of the commerce secretary even discussed it acknowledge this when asked by a reporter in a background call that took place earlier today he said look it we know this is going to be uncomfortable for u.s. allies because the justification that we've

u.s. treasury secretary steve new should have this to say for. the present we have a very good framework agreement that's not just about buying goods it's about structural changes it's about lowering tariffs that china has committed to lower tariffs on many things and make structural changes and protect our technology so these are very important issues for the u.s. economy and now we're going to make sure that this gets implemented. that he told and months of tension between the two countries which would send markets into a frenzy but with little concrete information released about the details of the negotiations the stakes remain high. the news has been greeted with great relief in china here's what people in beijing have to say. we should try to be the first in as many fields as possible so china can account for the u.s. . where for the for me you. will not trade war could harm investors so there shouldn't be one china and the u.s. should work together from the same foundations so that you could say you were down to do what i think i can buy luxury goods such as cars or watch

u.s. treasury secretary steve minutia had this to say for. the present we have a very good framework agreement that's not just about buying goods it's about structural changes it's about lowering tariffs china has committed to lower tariffs on many things and make structural changes and protect our technology so these are very important issues for the u.s. economy and now we're going to make sure that this gets implemented. to taunt and months of tension between the two countries which markets into a frenzy but with little concrete information released about the details of the negotiations the stakes remain high. ice hockey now and after winning all their matches leading up to the final of the world championships we put the icing on the cake by winning it all they defeated switzerland and now biding final in copenhagen. first gold went to be indulged me no need to try to great but that no plates in the first period. belly did not last long just two minutes later sweden equalised seventy could be used to fight home to let the schools i. deem a second period of a swiss skin p

deficit with china under the deal china has pledged to significantly increase its purchases of u.s. goods and services. now the prestigious cannes film festival began over a week ago and the palm door at the top prize has now been awarded it went to the japanese movie shoplifters the film takes a challenging look at conventional views of what actually constitutes a family and it questions society's preconceived notions overall this year's festival was more politically charged than usual. it was just the news director he calls who could it who was the night's big winner mapping the brain prize the part . his film shop list is tells of a makeshift family trying to keep afloat by resorting to petty theft in order to supplement their meager encounters. the film was a favorite of audiences and critics and it won over the jury to. think or feel when two american director spike lee. his film black klansman is based on the true story of a black police officer from colorado and his white jewish colleagues who together infiltrated a branch of the ku klux klan in the nineteen seventies. for the firs

tariffs of their own beijing has released a list detailing more than fifty billion dollars worth of u.s. goods to be hit with a twenty five percent tariff including soybeans u.s. soybeans sales have shown noticeable losses in less than a month data at the beginning of april showed more than two hundred fifty five thousand metric tons of beans being shipped fast forward to the week of the twenty six last week of april and that number dropped to just under eight thousand because of long shipping cycles u.s. soybeans currently en route to china could be hit with pending tariffs upon a rival welcome you pay a tariff while china does not import soybeans from watching it does important so i mean from other countries the u.s. is still a major supplier with more than thirty five million tons shipped every year. the wall street journal reports that china is venturing to become the world leader in plant gene splicing an area dominated by u.s. based companies syngenta a g months santo and others syngenta the seed can chemical giant now owned by state owned china national chemical corp is reportedly const

deficit with china under the deal china has pledged to significantly increase its purchases of u.s. goods and services. that severity of an attack on an orthodox church in the russian province of chechnya has left a church goer and two police officers date for armed men raided the church during a service they were killed by security forces chechnya is a mostly muslim region with a history of separatist finance. french film director luke best saw is under investigation for rape according to french radio station europe one a woman filed charges with french police alleging bissell drugged and raped her in a paris hotel on thursday night this song was one of france's best known film directors. and of course the cannes film festival kicked off over a week ago and now the moment film buffs around the world have been waiting for the awarding of the top prize will be pando which this year has gone to the japanese movie shoplifted is now the film takes a challenging look at conventional views of what constitutes a family and overall this year's festival was more politically charged than usual. it

deficit with china under the deal china has pledged to significantly increase its purchases of u.s. goods and services. an attack on an orthodox church in the russian province of chechnya has left a church goer and two police officers dead former armed men raided the church during the service they were killed by security forces church now has a mostly muslim region with a history of separatist violence. now the prestigious cannes film festival began over a week ago and the palme d'or the top prize has now been awarded it went to the japanese movie shoplifters the film takes a challenging look at conventional views on what actually constitutes a family and question society's preconceived notions overall this year's festival was more politically charged than usual. it was just the news director he calls who could it who was the it's big win to everybody in prize the part. his film shopping list is tells of a makeshift family trying to keep afloat by resorting to petty theft in order to supplement their meagre incomes. the film was a favorite of audiences and critics and it won over the jury

trade deficit with china under the deal china's pledge to significantly increase its purchases of u.s. goods and services. an attack on an author talks church in the russian province of chet's shares left a church go up and two police officers dead form on demand raided the church during a service they were killed by security forces is a mostly muslim region with a history of separatist violence. french film director lucas songs under investigation for rape according to french radio station europe one a woman filed charges with french police alleging best saul drugged and raped her in a paris hotel on thursday night based on is one of france's best known film directors . in the u.s. state of texas a seventeen year old has confessed to being the sole gunman in a school shooting in houston the suspects been charged with murdering a fellow students and to teachers his family members say they're shocked and confused and have offered their condolences. in hawaii fast moving larva is pouring from the side of the killer way a volcano threatening a key escape route the flows of molten rock are advan

deficit with china under the deal china has pledged to significantly increase its purchases of u.s. goods and services. french film director and you could best song is on the investigation for rape according to french radio station europe one a woman filed charges with french police alleging that besought drugged and raped her in a paris hotel on thursday night vessel is one of france's best known film director is. an attack on an orthodox church in the russian a province of chechnya has left a churchgoer and two police offices day for almost men raided the church during a service they were killed by security forces chechnya is a mostly muslim region the history of separatist violence. in hawaii fast moving lava is poor in from the side of the killer way a volcano threatening a key escape route the flows of molten rock are advancing towards homes in the coastal highway the hawaiian national guard has warned of mandatory evacuations if more roads become blocked by lava. authours he's in the u.s. state of texas say a seventeen year old has confessed to being the sole gunman in a school shoo

and they apologized well apparently there were also u.s. goods piling up at the ports over in china and china has a huge buying power and exporting power and all these u.s. companies have massive factories over in china so they have a lot more leverage than we can possibly see here because of course our media doesn't cover it because they have a more important story that their little conspiracy theory that they're focused on nevertheless there are you know that china apparently has a lot of negotiating power in terms of twenty eighteen elections midterm elections coming up in just a few short months as places like iowa and nebraska where they were really squealing about the impact on their agricultural exports some of these places you know their their number one. destination is china they also live four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank o

deficit with china under the deal china has pledged to significantly increase its purchases of u.s. goods and services. well turning now to venezuela where president nicolas maduro is expected to win a second term in office in elections being held today during his victory is seen as almost certain even though the oil rich country has descended into economic turmoil under his socialist government inflation has reached an all time high of more than thirteen thousand percent there are fears it could get even worse after the election. their nose even waiting for the election results thousands of venezuelans have already packed their bags under making their regs there's a constant stream of migrants is gathering near the colombian border they're leaving a country where they see you know hope for the future. despite the misery president nicolas maduro seems assured of victory. he has been so. well key opponents from contesting the election and still value large crowds of the oil funds. right now we are here to support our work or president nicolas maduro to continue our revolution to continue d

if it happens, china may strug toll buy $200 billion in u.s. goods. products planes and soybeans. china is its second largest market for boeing. or it could eliminate tariffs on u.s. farm products. also unclear, what china wants in return. the u.s. is working to lift a crippling ban on chinese tech giant zte. >>> u.s. stocks closed down for a few reasons, tech stocks fell, bond market, ten-year treasury yield is at a seven-year high, raising concerns about rising inflation and interest rate hikes. >>> americans are shopping at walmart, both online and in person big time. walmart's overall sales grew last quarter. online sales jumped 33%. walmart working hard on its digital investments. part of a larger plan to shift perception of its brand. it wants to appeal to younger, wealthier customers, the kind that shop at amazon. >>> the royal wedding is tomorrow. and the wedding of prince harry and meghan markle could cost tens of millions of dollars beyond the price of the wedding itself. cleaning statues, fixing roads and, of course, security. that's expect

to protect alsonal security, is it does say that it is for national security to the tariffs on u.s. goodsdo not find it convincing that steel and is of a broader u.s. economic interest. useful components, enabling american companies to produce better products and be more competitive. we really don't believe that case has been made. the imposition of our rebalancing tariffs is based on wto rules. when a country illegally or unfairly imposes tariffs coming have the right to rebalance. we are not claiming there is a here.al security interest on the contrary, we don't see how a question of national security could arise between such close allies as europe and the united states. julia: why do we think this has happened? eu has done that everything they can to reassure the united states. we have wilbur ross saying that it wasn't enough progress made in discussions. but the eu tensions are not the only issue we have. the an estate is fighting with china. they have been i enable -- been -- theyo a ground after have been unable to agree on nafta. we have to acknowledge that this administration came

and they apologized well apparently they were also u.s. goods piling up at the ports over in china and china has a huge buying power and exporting power and all these u.s. companies have massive factories over in china so they have a lot more leverage than we can possibly see here because of course our media doesn't cover it because they have a more important story that they're a little conspiracy theory that they're focused on nevertheless there are you know that china apparently has a lot of negotiating power in terms of twenty eighteen elections midterm elections coming up in just a few short months as places like iowa and nebraska where they were really squealing about the impact on their agricultural exports some of these places you know their their number one. destination is china they also live four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank ba

saying that they will impose tariffs on u.s. goods like bourbon and jeans and harley davidson motorcycles if the u.s. does go ahead with tariffs on their goods wilbur ross the commerce secretary was pushing for some sort of delay he's convinced donald trump as for the other countries we knew actually about the u.s. and canada that was announced over the weekend the negotiations there lumped in with the negotiations over the north american free trade agreement lots of positive noises but some sort of agreements maybe maybe in the works from mid may and then the three other countries that were mentioned in this proclamation were argentina australia and brazil they are out of the danger of tyrus as long as the agreement that's going to that has been put into into play in principle is followed through within the next thirty days south korea already had agreed to putting a quarter on its steel and aluminum exports so they are also no longer in danger of tariffs nigeria's president mohammed who bihari has become the first sub-saharan africa

joint statement, the two countries announce that had china has agreed to significantly increased u.s. goods and services. today's announcement comes after weeks of tariff threats from both countries. the u.s. intends to send a team to china to work out the details. >>> we have new details about a deadly cougar attack near seattle. >> coming up next, what the victims did in the moments before the bopuma pounced. >>> and a new look at the duke and duchess of sussex. >>> the winds brought business and labor together to expand career training and apprenticeships, invested in transportation and helped create over 200,000 living wage jobs. antonio villaraigosa for governor. you know at the heart of what mayor villaraigosa is doing today, he's fighting to make this country more equal and more just. president obama called him one of america's finest mayors. he's more prepared to get things done. antonio for governor. >>> new details on a cougar attack that left a biker dead and a second injured. the two victims did everything right and the boom a was emaciated. they got off their bikes and made noi

thursday and friday, where are we on the one hand on china agreeing to buy $200 billion more of u.s. goods in return for the u.s. dropping tariffs on $150 billion of chinese goods? >> well, chris, i'm pleased to report that we've made very meaningful progress and we agreed on a framework, which is important to understand. and the framework includes their agreement to substantially reduce the trade deficit by increasing their purchases of goods. we also discussed very important structural issues that they're going to make in their economy to make sure that we have a fair ability to compete there. and also protections about technology, which have been very important to the president. >> chris: but china and one of the big things the president has said is he wants them to reduce the deficit by $200 billion, by $200 billion more of u.s. goods. they reportedly refused to agree to that specific target. there's nothing about a specific target in the statement. one, have they refused to agree to a target and is there still the possibility of a trade war? >> well, chris, we're putting the trade war

it a bad day for world trade promising counter measures that could include retaliatory tariffs u.s. goods into the e.u. on everything from blue jeans to motorcycles what they can do we are able to do exactly. the same it's totally up to the it come to be she pulls you look through measures when it comes to. the crate france's junior trade minister promised a similar response suggesting the u.s. president may be misinformed. no more forget that issue comes a point when one needs to look at the figures and i'm surprised that maybe president trump stuff haven't shown him how much those european companies have invested in the united states created jobs that to assemble and produce that now those u.s. jobs could be at risk just as president donald trump seeks to fulfill one of his top campaign promises to protect the jobs of his supporters in america's steel and aluminum manufacturing sectors it's not just international partners criticizing donald trump's decision to oppose steel and aluminum tariffs on top u.s. allies domestically members of president trump's own republican party are also cri

and they apologized well apparently there were also u.s. goods piling up at the ports over in china and china has a huge buying power and exporting power and all these u.s. companies have massive factories over in china so they have a lot more leverage than we can possibly see here because of course our media doesn't cover it because they have a more important story that their little conspiracy theory that they're focused on nevertheless there are you know that china apparently has a lot of negotiating power in terms of twenty eighteen elections midterm elections coming up in a just a few short months as places like iowa and nebraska where they were really squealing about the impact on their agricultural exports some of these places you know their their number one. destination is china they also live four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank

it a bad day for world trade promising counter measures that could include retaliatory tariffs u.s. goods into the e.u. on everything from blue cheese to motorcycles to come do able to do exactly. the same it's totally up to the it comes to the three measures when it comes to its. credit france's junior trade minister promised a similar response suggesting the u.s. president may be misinformed. the comes a point when one needs to look at the figures and i'm surprised that maybe president trump stuff haven't shown him how much those european companies have invested in the united states created jobs that to assemble and produce the now.

and they apologized well apparently there were also u.s. goods piling up at the ports over in china and china has a huge buying power and exporting power and all these u.s. companies have massive factories over in china so they have a lot more leverage than we can possibly see here because of course our media doesn't cover it because they have a more important story that their little conspiracy theory that they're focused on nevertheless there are you know that china apparently has a lot of negotiating power in terms of twenty eighteen elections midterm elections coming up in just a few short months is places like iowa and nebraska where they were really squealing about the impact on their agricultural exports some of these places you know their their number one. destination is china they also live four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank o

u.s. could soon be a regular fixture in some chinese supermarkets. the asian country has agreed to import more goods that are made in usa for u.s. president donald trump it's been a cause for celebration on twitter. china has agreed to buy massive amounts of additional farm agricultural products would be one of the best things to happen to our farmers in many years. china barriers and tariffs to come down for first time. president trump had previously criticized china for exporting more goods to the u.s. than vice versa but now the agreement should begin to reduce america's three hundred seventy five billion dollar trade deficit with the nation. china is also pleased with the deal and with it the avoidance of a difficult trade war. really we believe that the chinese and u.s. governments reached a good agreement an outcome acceptable for both sides of course both governments should honor such agreement but you know. economists think the chinese government will now instruct companies to focus more on u.s. products but the agreement could be bad news for european firms especially german mechanical engi

export restrictions by illegally shipping u.s. goods to iran and north korea. eeted he's working with chinese president xi jinping and too many jobs have been lost in china. >>> signs of the trade war between u.s. and china has been cooling since stock changes in asia. yesterday u.s. imposed sanctions as they try to keep the iran nuclear deal operational. >>> here on wall street the dow finished 2% higher on the week as did s&p 500 and nasdaq. >>> a merger between copier company xerox and fujifilm is off. now, earlier this year it was announced that the two companies' joint venture would combine to form a new company. it would be part of a restructuring that would save billions by 2022. xerox said the deal fell through because fujifilm would not negotiate improved terms. >>> meantime nearly 270 million eggs have been recalled due to a salmonella outbreak. they're sold under rose acre farms. they were sold in grocery stores like food lion and walmart. at least 35 people are reported ill in several states. 11 have been hospitalized. >>> and "avengers: infinity war

yesterday the two countries announced china had agreed to, quote, significantly increase purchases of u.s. goods and services. it's still unclear how much the increase will be. we do expect more specifics to come. the u.s. is planning to send a team to china to hammer out details. >>> san jose plils are asking homeowners in the willow again neighborhood to look at surveillance video to see if they spot a man accused of prowling around home. police say surveillance video shows him looking into the bedroom window of one home and casing another. both happened earlier this month. police believe he may be involved in other similar incidents and burglaries in the area. >>> the warriors rolled past the rockets in game three. they're up two games to one in the western conference final. >>> oracle was rocking as the warriors won by 41 points. that is the biggest margin in golden state's postseason history. they needed a big night and steph curry certainly delivered. he said he never lost confidence after his shooting woes in the first two games of the series. game four happens tomorrow night at oracle. t

they said they will buy more u.s. goods but they have not said exactly how much yet. neil: john, we do know i think the commerce secretary will be back in china next week. something fast is developing here or could just all unravel. if they have an accord that spells out with a little bit more meat and details but it isn't everything the administration waned, how would traders react? >> i think traders will react great, traders will ride act great because the trade war is off the table. if they claim victory some way, they sent over the a-team -- neil: it is off the table for now. >> if it is off the table, u.s. can claim victory, chinese claim victory especially going into the jundi. north korean meeting, both sides can create victory. something of substance will not be done. they will not deal with intellectual property. go ahead. >> neil, think about the one missing piece of this. are you heard one thing about currency manipulation? you haven't heard a word about that in all these discussions. that is part of what mr. trump ran on. we don't hear nothing from that.

u.s. governments reached a good agreement and outcome acceptable for both sides of course both governments should honor such agreement with you. economists think the chinese government will now instruct companies to focus more on u.s. products but the agreement could be bad news for european firms especially german mechanical engineering and automotive companies who rely a great deal on the chinese market. but while it's a chinese u.s. trade truce relations with the e.u. are not as core deal german cars popularity in the u.s. is a thorn in trump side he maintains it erodes america's car industry so he's asked the commerce department to consider whether auto and auto part imports threaten u.s. national security and should face import duties of twenty five percent right now the rate is two point five percent. carmakers likeness sadie's b.m.w. and fox are going which manufacturer in the u.s. would be less badly hit than companies like our d. in porsche. last year almost half a million german cars were exported to the u.s. the e.u. says punishment tariffs would be illegal. if no. u.s. food uni

and us tax each other the results there are considerably higher barry is for u.s. goods entering the e.u. on average the institute says europeans charge a five point two percent levy compared to just three point five percent by the americans u.s. beef is particularly hard hit it's taxed at sixty eight percent that's to protect film as in the e.u. meanwhile the u.s. charges a forty nine percent levy on european tobacco products and twenty two percent on trucks with the aim of protecting american farmers and vehicle manufacture as experts suggest lowering import duties on both sides while that would reduce european customs revenue it would be cheaper than a trade tool. it's certainly a lot at stake there are business editor have you got to give us is here with us that have it i imagine a lot of people in germany this morning sighing are breathing a breath of relief for now at least at least for now and especially because yesterday since the german government hadn't heard anything specifically everyone pretty much assumed that we would see those tariffs enter into force tod

u.s. treasury secretary steve minutiae had this to say for. the present we have a very good framework agreement that's not just about buying goods it's about structural changes it's about lowering tariffs china has committed to lower tariffs on many things and make structural changes and protect our technology so these are very important issues for the u.s. economy and now we're going to make sure that this gets implemented. to taunt and months of tension between the two countries which had sent markets into a frenzy but with little concrete information released about the details of the negotiations the stakes remain high. has been greeted with relief in china here's what people in beijing said. we should try to be the first in as many fields as possible so china can account for the u.s. . the e.u. . trade war could harm investors. so there shouldn't be one china and the u.s. should work together from the same foundations that you get to work out but don't do what i think i can buy luxury goods such as cars or watches at lower prices. irish low cost airline ryan them has rel

u.s. under this deal would suit it so from what i see it doesn't take much to appease donald trump beijing has got the deal its hands here it's got a good deal that it's a sales of a shit given how restrictive china has been in the old economic speech i think what the u.s. wants us but china to ease some of its market boundaries and that's something that even the e.u. has found quite challenging in trouble so to work around at the same time trump has to find a way to go with china because his entrance has somewhat backfired the chinese also have to be very careful not to be too optimistic about eight inches between the you with the u.s. and in an extreme point of view it is quite ready to quietly ready to defend its industrial plans with or without the u.s. and i hang we appreciate your analysis from singapore there thank you. so sport now and the murky very murky side of is that murky it's quite murky the murky is gathering bad thank you german journalists have revealed evidence suggesting that russian authorities covered up doping test results for footballers in the country's world cup squad the revelations come just weeks before the

so they do have an interest in bringing more u.s. goods in. little bit. neil: like you said, it might buy them time. but i would assume to impress the president and enough goods to bring that gap down. >> in just the way the economy in china structured is like turning a titanic on a dime because it's mostly stayed on. so the government owns most of the industry. that is not going to change for a long, long time. they still subsidize a lot of the companies that operate in china in the control and dictate what companies like alibaba still do. >> they don't like us telling what their government can or cannot support. >> no. another thing i picked up last week as their whole outlook. we thought it was a green screen. >> trust me, i was there. like an hour later we saw you in the studio. connell: like that time you went to doorposts. you were great over there. the one conversation i had with someone over there that put the point of view into perspective as i was told of this the way china looks at us as they say the united states sees china as a th

u.s. previously threatened tariffs on $150 billion worth of chinese goods. own is the fate of zte. the chinese tech giant was crippled after the u.s. banned it from buying u.s. parts. on the reversal from last week, president trump suggested saving it. mnuchin says there is no quid pro quo linking zte to a trade deal. it is not going easy on zte echoed by larry kudlow. >> if any remedies are altered, they will still be very, very tough. do not expect zte to get off scot free. ain't going to happen. >> zte faces punishment for violating u.s. sanctions and lying about disciplining the employees involved. >>> president madu rerro winnin another six-year term in venezuela. many countries, including the united states, echo the sham. stating we need venezuelan people running this country. a nation with so much to offer the world. ma maduro would be open with talks with quote the empire of the united states. >>> and a lot of talk about steph curry and his slump. ask the rockets about the slump. lindsay czarniak is here with the "bleacher report" and blowout. if you'

u.s. treasury secretary steve minutia to have this to say. the present we have a very good framework agreement that's not just about buying goods it's about structural changes it's about lowering tariffs china has committed to lower tariffs on many things and make structural changes and protect our technology so these are very important issues for the u.s. economy and now we're going to make sure that this gets implemented. that he told and months of tension between the two countries which would send markets into a frenzy but with little concrete information released by the details of the negotiations the stakes remain high. low cost airline ryanair offered released its full year results for twenty seventy spurred by an increase in passengers profits source a one point four five billion euros that's ten percent compared to the year before that strong performance come. despite the difficulty of months for ryanair the consolation of thousands of flights due to rostering problems and pilot strikes apparently failed to have a big impact on the company's bottom line in a bumpy y