u.s. dollars last year trade flows with china really unbalanced the u.s. imported chinese goods with five hundred billion dollars but only sold them one hundred thirty billion back the u.s. trade deficit with the e.u.

u.s. dollars last year trade flows with china really unbalanced the u.s. imported chinese goods with five hundred billion dollars but only sold them one hundred thirty billion back the u.s. trade deficit with the e.u. is around one hundred fifty billion dollars a lot fueled by germany's export heavy economy it's responsible for almost a quarter of all e.u. exports to the united states time to rope in our financial markets reporter only by standing by in frankfurt ali just tell me is there any other way of fighting such a big trade deficit than imposing tariffs. well you can devalue your currency what does that mean that means you make the dollar less valuable and thus everything you export becomes more attractive to people let's say in china or in europe because they can buy a cheaper the u.s. currency is cheaper for them so they buy more and. you can save jobs at home the chinese have been doing that for many years for many years now although it's slowly eased the control over their currency so the currency has revalued a bit it's gone up a bit but that h

u.s. trading partners. is that analysts are saying worth keeping and i on this time theyd is thailand because appear to have met all three of the conditions for being declared a manipulator. they have got a pretty take trade surplus, their current account surpluses big relative to the economy, and if you look at their foreign exchange reserves comic it is suggestive of their having intervened pretty consistently the past few gains indampen gain -- their currencies. thailand is one to watch, there are other east asian countries that have also seen the reserves rising over the past year or so, taiwan --south korea, even last time around, the u.s. kind of scolded germany and switzerland for having weaker currencies than the u.s. treasury thought was appropriate. >> could we get some indications by the administration of preferences for the dollar? will they say they prefer a strong one and have a strong dollar policy as they have done before and done the opposite? chris: it is interesting. conflictingd messages

the u.s. tradeepresentative listed $50 billion in china trade tariffs. stage for a potentially bruising trade war with beijing confirming it will respond in kind. let's get to jodi schneider, joining us now. it really is an interesting list. you take a look at 1300 products from malaria diagnostic tests to cassette players. tell us more about it. jodi: flamethrowers is the weirdest one. some things we are not sure why they are on their -- there. the u.s. trade representative's office said it is the products they see as having benefited practices, what the ministration is saying our unfair intellectual property practices. they are trying to make this said what they see as intellectual-property crimes, so they are largely targeting technology, but there are a lot of home consumer products. that hasn't some retail industry folks and others worried in the u.s. about the economic impact. representative's office said it is meant also to spare some industries. yvonne: we were thinking clothes, shoes would

u.s. lost a trade war with china years ago. ent we did today after china announced a list of u.s. products that might be subject to a 25% tariff. he says the trade war was lost by the foolish or incompetent people who represented the u.s. china announced tariffs worth $50 billion on a series of american products. britain's opposition labor party seemed tocomments confirm russian's involvement in an attack. for his johnson said -- boris johnson said the research lab had identified the nerve agent but couldn't pinpoint the exact source of the poison. >> either the secretary has information he's not sharing or it was a bit of an excedrin asian. -- of an exaggeration. we need to get to the source of this. mark: russia has denied any involvement in the attack. insian officials say a fire a moscow shopping center today killed one person and injured six others. authorities aren't sure what caused the blaze that started in a storage area on the mall's top floor. in ames days after a fire siberian shopping mall killed 64 people. after th

u.s. jobs report and not help. let's talk about trade. our next guest says u.s. strategy has evolved over time, simply aiming to reduce the trade deficit to stop china for moving up the economic ladder. joining us from hong kong is alicia garcia, a chief asia-pacific economist. i have raised this two other guests, it is an ideological fight. particularly when you look at targeting chinese tech. it seems clear it is an attempt to suppress chinese -- rebalancing global power. alicia: absolutely. that is the end goal for the u.s. clumsily,tarted very the 22nd of january. certainly not washing machines. they realize that was not the target. as they moved on, china has realized what they are after. that is why china has reacted so massively. frankly, to its detriment. china cannot retaliate because it does not have enough to retaliate about, it does not import as much from the u.s.. it can't stop importing what it needs to move up the ladder. that is china's problem today. to be fair, if you look at the way that it has diversified, from the perspective of the food secu

u.s.-china trade tensions, with other countries? hat factor into your view on what the fed does? >> we are pretty optimistic when it comes to outlook for the u.s. overall. we have fiscal expansion in the united states, ongoing momentum in the labor market. the current lack of full of the dollar -- level of the dollar is quite supportive to the industry. reflective and bond yields. if pun yields rise, we expect the 10 year yield at 3.25% at the end of this year and austria following. that is a reflection of u.s. global growth strengthening. we don't see the tariff issues derailing the outlook for china. the chinese think it most it might take .3% off chinese growth. if global growth continues to move forward, the u.s. dollar strengthened in response to a strong u.s. economy, weaker aussie dollar, in terms of the response of the aussie dollar, it does not seem to be unsettled at all by the threat of rising trade frictions, and that shows you austria's outlook remains relatively optimistic. haidi: things ever changing on the trade front

u.s. trading yesterday. you can see this morning we have a whole bunch of the semiconductor space and chipmakers down, between 1% and 2% that's on the back of the story and reports that apple was thinking of processing its own microchip in some of its models from 2020 onwards. that impacted intel yesterday. you can see it's having an impact on european tech sectors as well. let's move on to asia. let's see how things are doing there. the tech-heavy index kospi has done okay in yesterday's trading. around that flat line, down 0.1% nikkei down 0.5% weak session, but then again not as bad as the chinese indices. you can see shanghai is down almost 1%. the shenzhen is down 0.8%. this again was on the back of retaliatory trade fears. another escalation in terms of trade rhetoric between the two sides. china announced tariffs on about $3 billion of u.s. imports that has impacted the chinese equity markets switching on now we will talk about specifically what happened in the u.s. to give you some context, dow was d

u.s. trading yesterday but perhaps not as bad back to you. >> thank you very much >>> outside of stocks, here is how things look this morning oil is slightly higher we are not seeing a big change in the euro/dollar 1.23 for the euro/dollar gold is down a bit to 1,341 per

and finally former u.s. trade negotiator and senate staffer ira shapiro on his book "broken." book tv all this week on c-span2. >>> both the house and senate are out this week. the house returns for business tuesday and in the senate lawmakers reconvene monday at 3:00 p.m. eastern. they'll swear in a new senator. republican cindy hyde smith. chosen by mississippi's governor to replace thad cochran. you can watch the house live on c-span and the senate on c-span2. >>> sunday on is c-span's q&a, michio kaku talks about science

here in any sort of trade war with the united states because of course germany's car industry as an imported into the us but also as an exporter of b.m.w.'s and mercedes out of u.s. plants. absolutely. would be would be bad consequences for german industry either way the other point is of course that donald trump generally looks at the relationship with germany and looks at germany's trade surplus with the united states and is not happy about it he blames unfair trade activities by the e.u. he has by now understood that he cannot strike a bilateral deal with germany because trade in the european union is the product of all the negotiations over trade agreements is the progress of the e.u. commission but of course he wants germany to use its influence on the e.u. commission to make concessions to the u.s. but that's very hard for america to do and also she can on german producers to be less competitive or german consumers to buy more american products so i think he's asking a bit too much you cause of phenomena and i thank you so much and but it's fallen from. bad colors thank you. this is now with monica jones of the financial world is what watching those talks

washington with few promises on a number of issues it's unclear for example whether trumbull impose u.s. trade tariffs on the e.u. or agree to an expanded iran nuclear agreement but if trump changes his mind on either issue many people in france may feel the tulip backslapping and smiles who was it. al-jazeera paris when they were ahead on the news hour including a show of unity germans rally against anti-semitism after an attack and berlin. and then didn't go through with millions of followers a sentenced to prison life and prison for rape. and sport its advantage around the track after the first leg of their champions league semifinal where i am. place in the u.s. state of california have charged a former police officer they suspect of being the so-called golden state killer

u.s. economy. and trade,tariffs and what it could mean for the u.s. economy is interesting. uld cut long run gdp by 0.25%. a full blown trade war with the u.s., it europe, everybody gets in and hurls tariffs at each other, that is a gdp of 3.5%. they said it could be very damaging. the trade deficit would fall to 0%. nothing to change the feds three to four rate hike debate this year. jim bullard answering questions after a speech he gave earlier. he said expect a bumpy ride as donald trump presses on trade issues. the fed board governor said trade is uncertain. it is something to put into the .est trade he also said there is a growing consensus that china has not been a fair player since it joined the world trade organization in 2001. that everyo long ago economist said free trade is the best. it's the only way you can go, it raises growth. to a certain , it does. trade have another deficit between the china and economists are legitimate -- say there are legitimate issues that have to be met. yvonne: that will be interesting to see what jay has to say -- jay powell has to sa

u.s. wants to keep up with the trade fight. terday was met by the chinese side this morning. one more comment, he said the retaliation steps on u.s. tariffs are linked to the 301 probe, a forced move they did not have a big choice to make there. the u.s. side forced their hand when it came to the 301 investigation on intellectual property eunice will speak to the vice finance minister in about 15 minutes time or so let's check in on the market reaction the major bourses are trading deeply in the red. ftse 100 down 0.4% we had the weaker construction pmi number xetra dax down more than 1%. i have not mentioned this yet, we do have eurozone inflation numbers coming up in about 50 minutes time expectation is for the number to come in at 1.4%. if that's weaker, that probably won't help equity sentiment. let's go back and look at u.s. futures. it is still seen opening up quite weaker in a few hours time dow opening up about 440 points lower. s&p is seen opening up about 40 points lower as well all of this has happened in the last hou

washington with few promises on a number of issues it's unclear for example whether trumbull impose u.s. trade tariffs on the e.u. or agree to an expanded iran nuclear agreement but if trump changes his mind on either issue many people in france may feel that all the back slapping and smiles were worth it natasha butler al-jazeera paris. well protests are continuing in amini as capital as the political crisis unfolds thousands of people timed out to the streets on the call from the opposition leader who accuses the government of refusing to negotiate a transfer of power celebrations to go after the acting prime minister announce fresh elections to write and pass but critics say they don't trust the current government to him to see the electoral process demonstrations began almost two weeks ago as the political reforms which the opposition is seen as a power grab rather than for say a walk on. the people on the streets in that tens of thousands why because those talks that would seem to go ahead with because it's

u.s. launches a trade war and says that tariff increases are in line with world trade organization rules to protect its interests still the scale of china's new tariffs is modest the move looks more like a warning shot than a major counterattack the u.s. is china's largest single market a full blown trade war is the last thing china would want. and for more on the growing trade tension between china and the united states let's cross over to our asia correspondent andrea hang in singapore good to see you andrea so if china doesn't want to enter into a full blown trade war how do you interpret those chinese tariffs on u.s. goods. well monica it's very hot not to think of it as a treat war or as a retaliation is some kind of retaliation against the u.s. however heresy it can be seen as a much needed supplies on china's putte targeting the three billion dollars in u.s. imports is minute effort compared to the larger scale of things considering the one hundred fifteen point six billion dollars in u.s. imports altogether to china so this those three billion dollars worth of tariffs is just a warm

u.s. had missed ration is putting into place. we are not talking extensive trade. the u.s. not trade much internationally. economy gained, we have to ask whether this will derail the u.s. recovery, probably not. we have keynotes coming up later this week with jerome powell from the fed, it will be interesting to see what he says .bout this the data at the movement is moving in the right direction. we do not know if this will derail the recovery. that is literally what i wanted to talk to you about. i, we may be a part and land on the same story, this is turning over -- and if you look at the detail, it is not just the headline, it is the orders, it is the job, it is all looking the will not say fragile, first off data, the lowest reading since september, 2017 on the index and on unemployment. i would caution on this. we had been here before on the pmi's. they basically did not see the slowdown we saw in world trade 2011. we had a big downturn in world trade and the financial crisis itself, then the big bounce back area the pmi suggest a robust recovery globally. the hard da

we will be looking at the action and how it plays into your asian trading day. u.s. rket volatility and how housele it was, the white hints at negotiations, offsetting concerns about an all-out trade war with china. su keenan is here with more. we are looking at a bullish reversal. >> whenever you see a market close way off the low -- and let's go right to the chart, down 1.5%, not just yesterday, but starting this morning, coming back, the biggest two-day gain in five weeks. check out the intraday chart as you look at the bloomberg. were going to go to a bloomberg chart. this is the s&p 500 spread. wherever you have seen big drops andhe s&p, here earlier again the recent selloff, you see a huge spread between the high and the low. are called these reversal days and set up for positive action in the next session. let's go into the market snapshot. we saw the dollar fall. safe haven demand is back. a see a pickup in oil despite surprise, or this came as a surprise drop in u.s. supply. see the huge you because of this tit-for-tat and reassessing of whether this is a tra

u.s. china trade skirmish and mark a reaction. first we have breaking u.s. economic data.et's get to abigail doolittle. abigail: the isn nonmanufacturing composite for the month of march is coming in at a slight miss. the survey had called for a reading of 59. this is relative to february. andht decline from february also a slight miss. similar to what we saw for the manufacturing isn earlier this week. anything above 50 does signal economic growth. not a lot of growth here on this wednesday. the dow, the s&p 500 and the nasdaq all lower. has to do with -- this has to do with peers around a potential trade war between the u.s. and as china has new tariffs on soybeans and automobiles. aircraft among those tariffs. investors not liking that uncertainty. where we are releasing some pain , the commodity complex. commodities down sharply on the day. tariffs against u.s. soybeans on pace for the worst day since 2015. industrials also getting hit. pretty steep declines here. on thisn on the year threat that seems to be steepening. on pace for its worst day since 2015. bulls are h

u.s. and possible those costs to consumers they are. trade between germany and the us is booming last year volume grew to a total of over one hundred seventy billion euros with both sides exporting more to each other. increased u.s. import tariffs on steel and aluminum won't make much of a difference to that either in particular because germany doesn't sell that much steel and aluminum to the us. global exports from german steel and alimony and produces were valued at over twenty three billion euros last year but only a tiny proportion of that went to the u.s. one point four billion euros that spell e six percent. and they're also very specialized products and alloys types of steel which aren't even made in the u.s. a lot of u.s. companies are dependent on importing these metals to make their products that means in the end u.s. consumers will wind up paying the increased import tariffs but that prospect still doesn't allay fears that the dispute could still escalate let's get some analysis from our financial correspondent in frankfurt linda h

the u.s. tradee issued a $15 billion hit list of chinese products that could face new, 25% tariffs. covers 1300, including aerospace, i.t., communications technology, robotics and machinery. it will face public review before final determination in may. china has promised reciprocal tariffs on u.s. products. police in california say a woman shot and wounded three people at youtube's global headquarters in san bruno, california before killing herself. one man with critical injuries. the security teams worked with authorities to evacuate buildings and ensure the safety of employees. removed says it has more than 130 accounts on its social networks that were controlled by a russia-based agency. they say they were targeting people in russia itself or a neighboring country. facebook says the investigation into pages linked with russia has been running for months. japan's new guidelines on casinos are seen benefiting big players. an entrance fee of $56 for local tax ons, plus a 30% gross gaming revenue. a

u.s. trading session. first of q2. we are all about the u.s. today. let's get to breaking economic data. here's abigail doolittle. march,: for the month of coming in slightly less at 59.3. the survey called for 59.7. this compares to february at 60.8. but anything about 50 signals economic growth. this manufacturing number tells us the economy is pretty strong. stocks are not so strong. declines across the board. all clearly underperforming, down 1%. the dow now higher. we had gains last week for major averages, but on the quarter it was the first quarterly decline for the dow and s&p since 2015. lots of volatility. we are seeing this in the second quarter of 2018. let's look at two big movers on the day figure dashed a figure. humana popping higher by 7% grade this on reports that walmart, down 2.5%, is in preliminary talks to do a deal with the company. the company is also have a harder ship around providing drugs to seniors. whether it could be an outcry by orrin extension of that deal, if it is an out right by, it can be 40% premium for humana. that would put that at 375. quite an up

trade tensions escalate. the u.s. d china go tit for tat on tariffs. >> they are in this for the long haul and they are playing hardball. >> i don't believe we will have an all-out trade war. >> this is not a trade war, there is no war here. erik: the new york fed names a will new leader. his counterpart in atlanta offers exclusive clues on the path for monetary policy. >> i think we're getting closer to the lower bound. at that point i think we need to wait and see and see how the market responds. erik: spotify goes public, amazon comes under fire from the white house. it is a challenging time for tech and facebook's sheryl sandberg puts it in perspective. >> security is always an arms race. you build, they try to misuse. you build, they try to misuse in a different way. erik: it is all straight ahead on "bloomberg best." ♪ erik: hello and welcome, i am erik schatzker. this is "bloomberg best," your weekly review of the most important business news analysis and interviews from bloomberg television around the world. th

trade tensions are on the rise. wtoident trump blasts the as the u.s. s on an additional $100 billion worth of chinese goods. my conversation with the bank governor. equities, stocks are down for the third day in for with trade concerns weighing on markets. a flight to safety with portugal, sweden, the euro stoxx 50, all lower. higher for

u.s. officials have signaled possible wiggle room in the trade spat with china u.s. trade secretary wilbur ross said he would like to reach a trade agreement with china soon and the president's economic adviser larry kudlow questioned whether the announced terrorist whatever take effect stock markets in the united states europe and asia posted gains on the news. earlier i asked the german economic institute who would have to back down first for this dispute it . well with difficulty. i think to donald trump and his and administration know try to maneuver themselves into a negotiation position with china on this topic go for an intellectual property property rights and threatening terrorists is one of the options to negotiate this and might this have just been the right strategy here i mean because there haven't been other countries that have been lamenting china's trade practices and the theft of intellectual property so is it could this be the right way to go this strong and aggressive position well i think diplomacy would be of use the better because if you threaten

imports but that's less than two percent of the value of u.s. trade with china from monday the chinese government began imposing additional juvies on one hundred twenty eight kinds of products the highest tariff of twenty five percent will be on u.s. pork a fifteen percent duty will apply to fruit nuts and wine but not soybean imports worth around fourteen billion dollars annually to the u.s. analysts say china's response appears measured i think the key here is targeted what they have done is a package i mean one hundred twenty eight or a rather small items but you'll notice that apart from the scrap aluminum they're mostly agricultural in areas that will that voted for trump i think china is trying to send a very measured response last month the trumpet ministration announced a second round of trade sanctions against china a twenty five percent levy on more than fifty billion dollars of chinese annual imports the white house has not yet specified which products will be affected but targets will likely include sectors like robotics artificial intelli

he says the direct impact of the u.s. tradeent is not big for europe, the dax underperforming might tend to disagree. must be mindful of the confidence affect of it trades that and feels like the confidence affect can be very important. it is a data starts to roll over smallle bit, nfib, business confidence was at a five-month low yesterday. how will that white up feeding through to the economy? david: if you are a ceo, you have to be attention -- pay attention to what the present is tweeting. so far, sanctioned straight is not affecting them, but the need to watch because they don't like uncertainty. david: it doesn't mean you won't invest. just maybe not right now. these are three great stories down,e picked, stress wall street banks space numerals is the fed proposes a rewrite of post crisis requirements. and then stephen schonfeld fund takes on folder hill. virginity's in asia and finally, a nordic hedge fund targets 200% returns by going long and short on energy stocks. alix: joining us now is peggy collins. if you come in

both sides are not calling it a trade war but we've seen some reciprocity, u.s. down hundred billion, china flapping tariffs on all kinds of things like different grains. do you call it a trade war? do you see this as at least the start, the opening of the trade war? >> i think of churchill, better chat chat than war war and my strong recommendation is for quiet as possible discussions between the parties, because i think that some of the issues that are on the table at the moment, protection of intellectual property, subsidiz ing our enterprises, transfer of technology it is an issue for all players, and many many countries are concerned about that, so it is something that needs to be talked about and not just talked about, we need to see measures. we need to see changes. if you ask corporate, they break down their supply chains, they optimize all the time. well, clearly, everybody has an interest in knowing what the terms of the game are going to be. everybody has an interest in having level playing field, rules of the game, and respect of the system so that th

trade imbalances? >> there is speculation the u.s. s indeed looking to keep the dollar a little bit weaker to but some trade imbalances, it is hard to see that there is an overarching strategy, and it is hard to tell from one there isial tweet that some sort of strategy involved here. often times these things come .ut at heart -- ad hoc there does not seem to be any move by the treasury department or anywhere else in the ,dministration to move on this so it is really quite unclear there is any strategy behind us. betty: what about these russian sanctions? nikki haley said she would be announcing these on monday. >> right, she had a rather that treasury secretary steven mnuchin and would be announcing them on monday and they would be going after russian individuals and companies that helped to supply syria, and suddenly it was rolled back. the administration official said we weren't really ready. the washington post reported that the president was rather out, that this had come that he had not signed off on it and was not ready to go th

this is all in response to a list released by u.s. trade representatives, listing 1,300 chinese exports, worth about $50 billion on their side. massive target, electronics. it'd hit one of china's biggest export sectors but could also cause a major issue for u.s. companies, like apple and del, w -- bdell, who rely on inexpensive products to americans. dishwashers. the kitchen staple faces a 25% tariff. for those with chronic medical conditions and senior citizens, medical devices. they're on this list. many products needed to treat sick americans could see a serious rise in price thanks to this tit for tat approach. yesterday's u.s. announcement comes on the heels of china tacking tariffs on u.s. fruits, pork products, nuts, sparkling wine and more. a significant amount of those tariffs directly hit, you guessed it, trump voters. wilbur ross said it, the chinese are good at arithmetic. and getting back to the beginning, it was almost 30 days ago that president trump announced his intent to tax steel and aluminum coming from abroad. eventual

trade practices. exclusively toke bloomberg hours before the u.s. ts $50 billion tariff hit list for tariffs. >> it is unfortunate trade tensions are rising where global -- for the first time in a long --e, trade is glowing growing faster. it is spreading recovery around the world. the trade tensions, they arrive because people feel as though trade is unfair. it the advantages being gained by other countries. and that is causing them dislocation. we need to understand that dissatisfaction that is leading to these trade actions has a reason. thehe same time, we think differences should be settled through cooperation and through dialogue. and that is the way to make sure that trade continues to grow. that market access increases. but on a fair basis. would think the u.s. has a point when it comes to china. it may not be the most appropriate. david: the u.s. is not alone in being concerned about chinese trade practices. if you look at recent statements by their premier, they it is not athat globally significant factor when they were a smaller economy 15

u.s. dollars last year trade flows with china really unbalanced the u.s. imported chinese goods with five hundred billion dollars but only sold them one hundred thirty billion back the u.s. trade deficit with the e.u. is around one hundred fifty billion dollars a lot fueled by germany's export heavy economy it's responsible for almost a quarter of all e.u. exports to the united states time to rope in our financial markets reporter only by standing by in frankfurt ali just tell me is there any other way of fighting such a big trade deficit than imposing tariffs. well you can devalue your currency what does that mean that means you make the dollar less valuable and thus everything you export becomes more attractive to people let's say in china or in europe because they can buy a cheaper the u.s. currency is cheaper for them so they buy more and. you save jobs at home the chinese have been doing that for many years for many years now although it's slowly eased the control over their currency so the currency has revalued a bit it's gone up a bit but that has h

amid the specter of a trade war u.s. auto executives are holding their breath in china but they're not holding back on their brands this is a market where their companies have to maintain a high profile general motors now sells more cars in china than at home almost four million last year. it's an important market for ford as well their presence illustrated of the deep economic connections between china and the united states but unless beijing and washington can settle their trade differences these cars could eventually cost twenty five percent more we always advocate anywhere around the world the benefits of free trade we feel very welcome in china here is a business we have great chinese partners in spite of strains in the china u.s. trade relationship president xi jinping has been holding out an olive branch he says that four years from now restrictions the. being preventing u.s. car manufacturers from fully owning local companies will come to an end. a promise to end those restrictions could go some way to heading of

u.s. launches a trade war and says that tariff increases are in line with world trade organization rules to protect its interests still the scale of china's new tariffs is modest the move looks more like a warning shot than a major counterattack the u.s. is china's largest single market a full blown trade war is the last thing china would want. for more on the growing trade tension between china and the united states let's cross over to our asia correspondent andrea hang in singapore good to see you andrea so if china doesn't want to enter into a full blown trade war how do you interpret those chinese tariffs on u.s. goods. well monica it's very hot not to think of it as a trade war or as a retaliation is some kind of retaliation against the u.s. however analysts say it can be seen as a much needed supplies on china's putte targeting the three billion dollars in u.s. imports is minute effort compared to the largest scale of things considering the one hundred fifteen point six billion dollars in u.s. imports altogether to china so this those three billion dollars worth of tariffs is just a w

the trade spat between the u.s. and china has escalated after beijing imposed duties on a range of u.s. imports including pork and fruit the move came in response to president trump's imposition of genitive tariffs on some chinese products in some of south korea's best known bands have played a rare concert in pyongyang the north korean leader kim jong un said he was deeply moved by the experience it's seen as a sign of efforts to improve ties between the two countries ahead of a summit later this month. thanks for watching g.w. we're back in about thirty minutes. on. march twenty one special. airs on the story. with iranian. pressure liberation. exile home. these are some of the most part in the in her life. not serious sportiness and since she led to icons showing what they felt was. the missing. the third generation mel said dad and prospect can say. i'm living in a cell with this disgusting. unst. sixty minutes. germany state by state. the most colorful. the liveliest. the most traditional. find it all any time.

u.s. has been treated unfairly for many years by many countries on the issue of trade >>> movie director oliverticizing u.s. middle east policy during a news conference in tehran and commented on the ongoing conflict in syria, saying it has continued due to the creative destruction of neo conservatives in america >> it's so clear, it will be so clear in history, and it doesn't matter who's president, whether it's mr. bush, mr. obama or mr. trump, america will break any treaty it has to get what it wants but in this case there is no treaty, we're outlaws, doing something that is outlawed internationally. >>> spanish police found nearly 9 tons of cocaine concealed in a banana shipment from colombia. a european record for the drugs found inside a shipment container. six people were arrested in that particular operation >>> all right. you are up to date that's the news update this hour back to "squawk alley. i will send it back downtown to you. >> all right sue, thanks so much. >>> tim cook arriving at the white house for his meeting with the president a few moments ago. eamon javers is there with

paul: the u.s. tradeed a list of chinese products worth $50 billion facing new 25% tariffs. it covers 1300 proposed tariff lines, including aerospace, i.t., communications, technology, robotics and machinery. it will face public review in coming months before final determination. china says it firmly opposes the measures and will retaliate in kind. the head ofnfirmed the newly combined regulator for the banking and insurance industries. he was named pboc deputy governor and communist party secretary for the central bank and industry regulator. the 61-year-old has a career track record as an activist approach toward policymaking. an independent counsel is being appointed to investigate misconduct allegations against ceo martin sorrell. wpp says allegations do not involve anything material to the agency. sorrell says he rejects the allegations unreservedly. japan's new guidelines on casinos are seen as benefiting players in large cities. they agreed on an entrance fee of $56 for local gamblers and a tax on

mnuchin going there, i believe he is taking the u.s. tradeive robert lighthizer with him. maybe now they are getting down to brass tacks and negotiating a way out of this complication over china's trade practices and trump's planned imposition of tariffs. the irant's move on to nuclear deal. president macron trying to keep the u.s. in that deal, but adding to it. what was the reaction to that proposal? joe: it was a fairly muted response from the u.s. macron's proposal appears to be will paper over big differences between the u.s. and the e.u. on the iran deal and perhaps by some time. tiem -- a -- buy some buy some time. president trump has been threatening to pull out of it. that is something macron, merkel and may have been trying to avoid since trump came into office. for him be a sweet know to consider staying and negotiating some sort of side deal. whether or not iran is willing to go for it, part of that would be negotiating away some of their influence in the region. it is really quite an open question. be at yet another standoff with

trading day. in asia, manyover of the markets are closed for the holidays. here in the u.s., it looks like there wasn't a lot of conviction behind the trades today. we did and lower, tech stocks continuing to fall down about 115 points. the s&p lower as well as the nasdaq. the broad-based decline in technology shares that came out earlier this morning. again, not a lot of conviction to buy into the markets. the result is that investors just continue to sell. right.hat's we are already seeing evidence of it in the first few minutes of trade. the index is already weakened by about .2%, leading into that. take a look at the kiwi dollar as well. see a lot of u.s. dollar strength. we saw the markets close yesterday for may 1, labor day. including key markets of hong kong, china, and singapore. trading in new zealand just underway. the futures in australia, however, also pointing lower by about .25%. the aussie dollar showing ongoing weakness against that resurgent ringback. but get a quick look at commodities as well. we saw crude oil pushing higher again. this is on news out of

really began the trumpet ministration has signaled possible wiggle room in the spat with china u.s. trade secretary will ross says he'd like to reach an agreement with china soon and the president's economic advisor larry could lower questions whether the latest tariffs will ever take effect. or he bounces at the frankfurt stock exchange for us really how do you read into this could this be the beginning of the end of this very short lived trade war. yes. i hope so but i don't know and i don't think anybody who reacted so positively to the positive signals from the united states knows either i talked to a traitor just as he was leaving the stock market when trading that finished just a little while ago and he said you know who knows when the next tweet will come from the white house and what will be in it so people are ready for for backlash as for one hundred eighty degree turns but i think everyone was surprised at several officials from the administration in washington coming out and indicating that all's not lost there is a readiness to talk now it will be up to both parties to someho

negotiation that you have can possibly affect the macroeconomic causes that are pushing up the u.s. tradeing important? mr. mnuchin: the president's economic plan has consisted of tax reform, regulatory relief, and trade. part of the reason the deficit has gone up is the economy is growing. as a result of the impact of tax cuts. that is a short-term issue which , again, is the unintended consequence of a growing economy. we are focused on trade and turning that around. >> you may come back with all of this saying that we've got all these deals. meantime, that dynamic you just talked about, it sends the trade deficit higher. if we can get the fundamental changes we are talking about, and that is what the president is looking for, it will deal with the trade deficit. mr. mnuchin: we talked about the trade market and inflation and there is always something that ends up causing the next recession. we know there will be another recession. mr. mnuchin: we're narrow ever -- never very good at predicting what it is. what do you watch iago is there something that could be the biggest risk? mr. mnu

trade tensions are on the rise. wtoident trump blasts the as the u.s. nsiders tariffs on an additional $100 billion worth of chinese goods. my conversation with the bank governor. equities, stocks are down for the third day in for with trade concerns weighing on markets. a flight to safety with portugal, sweden, the euro stoxx 50, all lower. higher for the week, second straight weekly gain. week, weekaster after easter, these currencies are rising against the dollar with a flight to bond yields. gold is higher. classic safe haven. skepticals, investors about the german stock market as it heads for its second weekly advance. volatility is hovering near a record versus a measure for the euro stoxx 50. germany's benchmark, traded at the all-time high in january. it is now down by 5.2% for the year, more than twice as much as the regional gauge. germany, industrial production unexpectedly fell 1.6% in february, the biggest monthly drop since august of 2015. outputtedon slump investment good scrubbing after europe's biggest economy expanded last -- at the fas

u.s. president donald trump doubles down on a possible trade war with china u.s. officials are to examine another one hundred billion dollars worth of tariffs on imports from the country beijing vows to fight the measures to the. i'm sorry kelly walked into the program. ousted south korean president park geun hye has been sentenced to twenty four years in prison on a conviction including coercion bribery and abuse of power in a verdict broadcast live on south korean television the court ruled part colluded with your friends to receive tens of millions of dollars in kickbacks from companies and state agencies park was impeached. and arrested in march of last year supporters of her death demonstrated outside of the courthouse for impeachment has divided south korea. the war of words over the poisoning of x five sergei scribal and his daughter is escalating at the united nations security council the russian and british ambassador to the u.n. faced off last night in a fiery exchange over the alleged nerve agent attack london is sticking to its accusation that moscow i

u.s. also said his first choice would be to consult washington over trade. yes president donald trump is sending national guard forces to assist border authorities along the u.s.-mexico border. according to presidential memorandum, the move was due to american security being under threat from drastic illegal activity, including drug smuggling. gains,d the threat of including ms 13. the memorandum did not say have any national guard troops would be sent to the border or for how long. thewhite house has signaled u.s. is committed to keeping troops in syria to fight the so-called islamic. this comes a day after president trump said he wants to get out of the seven-year civil war, very soon and bring the troops back home. a white house spokesperson said america remains committed to eliminating any isis presence in syria that it forces have not already eradicated. rejectedme court has the plea to remain at liberty while appealing a 12 year prison sentence for corruption. it pays a way for the imprisonment of the front runner in october's election. the judge who pr

trade approach to china. he said china needs to be pushed to open its markets to u.s. business and the current threat of tariffs could help level the playing field. kashkari added a trade war must be avoided given the impact it would have on the u.s. and global economies our colleagues state side will speak to the new york fed president, william dudley, next week >>> feel free to get in touch with the show at streetsignseurope@cnbc.com, and you can tweet us at @streetsignscnbc. >>> coming up, a closer look at the new man of the driving see the of volkswagen. hotel, car and activity all in one place. ♪ racing isn't the only and with godaddy, i'm making my ideas real. with godaddy you can get a website to sell online. and it will look good. i made my own way. now it's time to make yours. ♪ everything is working just like it should ♪ internet providers promise business owners a lot. let's see who delivers more. comcast business offers fast gig-speeds across our network. at&t doesn't. we offer more complete reliability with up to 8 hours of 4g wireless network backup. at&t,