imports and now trump has ordered the u.s. trade representative robert lion hisor to place tariffs on a five a two hundred billion u.s. dollars worth of chinese goods including food and agricultural products the chinese government has called the plans unacceptable. honestly the u.s. is being a typical bully on trade china will take necessary action to protect our legal rights i also want to add this is a fight between you need a truism and multilateralism protectionism and free trade and power and rules. china plans to hit back and has filed a complaint with the world trade organization. terrorist counter terrorism counter counter terrorists over a confusing that's shed some light on it and bring him economist tyler fly specked from the united nations regional information center joins us from san and switzerland welcome to the show you have said trump has rights to be angry at americans trading as why's that. yeah because for all faces the situation in the united states. current account deficit trade deficit for thirty forty years a

trade. in the late 1980s, u.s. a icymakers worried that heavily indebted mexico with a stagnant economy and a might ing population implode. resident george h.w. bush invited the president to negotiate a free trade agreement. the first such agreement between low middle income country and an advanced one. was really an investment security agreement, with the agreement while the lowered mexican tariffs, it improved the mexican investment attracted large numbers of jobs in manufacturing. negotiators apparently did not perceive that the shift of otor vehicles assembly to mexico would ignite a political backlash in the u.s. heartland. thoughts about recent tariffs on steel and aluminum products. to exaggerate their importance since tariffs are less disruptive to trade than quotas, probably the next step. while tariffs used to be the negotiations, tariffs are employed as levers to promote negotiations beyond border issue. one important difference in current trade negotiations is he president's personal involvement. one has

the u.s. trade representative now says the u.s. erred in supporting china's entry into the wto under terms that have proved to be effective. a final example of a foreign policy inspired trait pact involved efforts to stabilize mexico with trade. in the late 1980s, u.s. policymakers worried that a heavily indebted mexico with a stagnant economy and a burgeoning population might implode. president george h.w. bush invited the president to negotiate a free trade agreement. the first such agreement between a low middle income country and an advanced one. nafta was really an investment security agreement, with the agreement, while the agreement lowered mexican tariffs, it improved the mexican investment climate and thus attracted large numbers of jobs in manufacturing. the negotiators apparently did forsee that the shift of motor vehicles assembly to mexico would ignite a political backlash in the u.s. heartland. finally, a few thoughts about recent tariffs on steel and aluminum products. it's possible to exaggerate their importance sinc

in terms of trade war, we heard from u.s. treasury secretary yesterday. he denies it's a trade war. he said it's different. mnuchin.sten to steve >> i don't think we're in a trade war. we're in a situation of trade disputes. these are not trade wars. are very focused as i said on the nafta issue which is renegotiating an old agreement. we're focused on the china issue complicated. >> potentially moderating of the position from the u.s. potentially moderating the position from china. suggestions they could come back the table regarding talks. the question is what they talk about. wants tochin said he see changes here in china. changes don't happen overnight. they need to find some middle ground. we're also will be looking how these play out for the trade data. >> that's the broad overview. are we seeing in terms of byimpact on industry industry basis? calls tobeen making businesses particularly in the southeast of china that export u.s.e in particular electronic firms starting to look for customers in southeast asia to take up some of those orders they maybe losing out. are soy beans

trade war. we're joined from washington. china and the u.s. have seven weeks to pull back from an all-out trade or. there doesn't seem to be any movement so far. what are the chances we can avoid? of aey are at a bit standoff. there happens low-level talks but there is nothing going on in any formal or high-level negotiations to come to some agreement. just nowse spokeswoman coming out of the statement saying the u.s. stands ready to talk but china has to agree to address some of the issues the u.s. is raised. that right now does nothing to be happening. both sides are digging in and going toward the end game and where that will be is some a clear. tariffs on both sides will begin fighting the economy of the u.s. and china. itthe next weeks and months, will take some time to unwind all of this if there is no clear vision of what a breakthrough will be. congress is also challenging president trump on trade. is saying tariffs may not be the way to go. >> china does deal in intellectual property. they engage in unfair trade practices which violate

of that market so we'll have continuing to invest at some point ok well we know that most of the u.s. tradeill right now the drama is directed. china how does that impact chinese investment in the u.s. . well chinese investment is actually down ninety two percent this year as compared to last year so it basically has just fallen of the cliff there's hardly any investment going on right now it was constant actually chinese cell phone maker foxconn is building a huge plant but it really looks pretty much like this is the last big deal of for a while that is the committee of foreign investment in the u.s. is actually blocking all sorts of chinese deals that were planned including a big deal by others so it's really difficult for the chinese right now all right last to their reporting for us from frankfurt thank you so much. the united states is demanding a reckoning over china's membership in the world trade organization the u.s. ambassador to the w t o denis shia accuses china of seriously harming members of the group by failing to live up to free trade principles. china's compliance with w t

president trump in washington dc to diffuse eu/u.s. tradeensions. 10 days ago trump declared that the eu was quote, a foe, in an interview. the u.s. imposed punitive duties on steel and aluminum imports from the eu, which responded with tariffs of its own on u.s. products. both sides have filed complaints with the world trade organization. the meeting between them was aimed at averting an all-out trade war. for more let's bring in dw correspondent alexandra von nahmen. when you look at these two men, they both pride themselves on being dealmakers with a personal touch. you were absolute -- actually in the room before they met. was it a warm welcome? alexandra: well, i would not say a warm welcome. i would say it was a very friendly atmosphere. in the oval office, at one point president trump even put his hand on juncker's leg, clearly demonstrating that they know each other, respect each other and get along well. but at the same time, both leaders seemed tense, with the u.s. president stressing once again the u.s. is losing money, and the co

u.s. u.k. trade deal in the works would now be up in the year one deal has to come before the other the u.k. account finalized trade pacts on its own until after breaks it earlier this year free trade between london and washington seem more plausible trump even said a deal would be agreed quickly. the e.u. is the u.k.'s most significant market but the value of u.k. exports the e.u. has stagnated in the last five years while export to the u.s. has steadily risen over the same period. london now has a very fine line to walk it has to redefine relations with two of its most important trade partners at a time when the e.u. and the u.s. are themselves at loggerheads over tariffs well for more on that i'm joined by callum pickering senior economist at bear a big bank in london i would like to start by asking you that britain needs to negotiate good trade relations with both the e.u. and the united states if you were at the negotiating table what would be your approach. well i'd certainly get my priorities

u.s. companies in china. given trade tensions, there is several weeks before the u.s. a can strike a deal before this tariffs goes into effect. we have an interesting report saying despite the trade tensions, u.s. companies in china to increase investment in china. we talk about why. kenneth gerrit joining us in the 7:00 hour. ramy: before that, we will talk about what is happening in markets right now and the rest of the summer in the northern hemisphere. us in abouts joins 12 minutes time. paul: you mentioned the yen weakening to the lowest since june. later, we will have do you give a sean talking about foreign exchange and the trade war. 10:00 coming up 10 past sydney time. that's it for daybreak asia. this is bloomberg. ♪ >> it is 7:00 a.m. in hong kong. i am yvonne man. this is daybreak asia and welcome to our asia headquarters. markets are set to track gains on wall street. investors see trade war tensions beginning to ease. the s&p 500 closed the highest since february. both sides say they are open to talks. bloomberg's global headquarters, i am ramy inocencio i

the u.s. trade representative says new tire of some may be imposed on an additional two hundred billion dollars worth of chinese goods the republican chairman of the senate finance committee has called the move reckless the white house says the new measures may be finalized after two months of public discussion heidi joe castro's got more from us from washington d.c. heidi what do we know about what these tariffs cover first of all. well rob we know this is an additional two hundred billion dollars worth of chinese goods and in a statement that was just released by u.s. trade representative robert light hisor he confirmed that this was trump making this decision in retaliation to what china has done in the last four days which was we tally their return for the first round of tariff that were imposed by the u.s. so essentially we are seeing this trade war intensify before our very eyes as far as this now newest round of two hundred billion dollars worth of goods they cover the gamut of what an americ

in the case of ecuador which planned to introduce the measure, the times reports the u.s. trade reprisals and yanking military support. dozens of countries avoided the resolution in fear of retaliation. guess who did introduce the resolution, who the u.s. did not try to bully. russia. let's bring in amanda carpenter, nice to have you on. let me get to the president. he weighed in on o all of this a little while ago on twit per. u.s. strongly supports breast-feeding but don't believe women should be denied access to formula. so here's my question to you. if the president of the united states himself is saying both options work. why is this u.s. delegation reportedly bullying ecuador and scaring dozens of other countries? >> the question about bullying ecuador is concerning, but the issue was here language perceived as hostile to the

total trade with the u.s. increased with the first half of the year, even as the trade situation deteriorated. a group 13.1% during the first six months of the year. exports were up compared to 2017. imports rose 11.8%. all the data is in dollar terms. commerce secretary wilbur ross says he will unload equity holdings. he said his failure to sell off assets created the potential for a serious criminal violation. the ethics office says the failure to sell may have negatively affected public trust in the trump administration. presidentelphia fed's has defended the inflation target. he said he would become double the 2.5%, 0.5% higher than official goal. he sees up to four interest-rate hikes this year. >> i had put in three for this year and next year. i have moved off of that. i am open to a fourth increase if we do see inflation start to accelerate. >> global news, 24 hours a day. powered by more than 2700 journalists and analysts. you can find more stories on the bloomberg. nejra: thank you so much. let's chec

in the meantime u.s. trade wars are on the agenda of this year's tenth anniversary of brics summit and russian president vladimir putin has just arrived for the annual gathering of the world's top emoting economies comprising brazil russia india china and south africa on seeds down of reports from johannesburg. this year's gathering will be quite unlike compared to anything that we've seen previously and that's mainly because you have to look basically out the goals that the brakes countries are pursuing on the world's leading developing economies were of bonding together and they defined their goals as celebrating their own economic growth and the past few years have shown that the countries are very much committed to that also they formed a new global bank under the name of the new development bank one of the main goals is of course being serving as sort of a counterbalance to the more traditional economic powerhouses and mainly the united states since twenty sixteen in fact you have trump in charge in the wh

pmi's coming off trade and export figures slowing down. the u.s. y would not be immune to a full-blown trade war. if that's one central assumption, if we are going to get retaliatory tariffs from china to europe, i don't think the was economy could withstand that. we might see a loss of economic momentum not being filtered through the markets. anna: why do think we trade sideways for the dollar against the euro? some might say a trade battle against europe, domestic growth story, germany for example very reliant on trade, some might suggest that wouldn't fit well for europe and the euro might weaken. why do you see it as trading water? 115, we think4 part of that is the adjustment. we've shaved a couple of percentage points on the growth outlook because of trade uncertainty, probably because of bad weather, italian politics, potentially. the adjustment factors happen to some extent already in the euro, but not in the dollar. when we look at things and we think they are going to escalate, it's going to get pretty serious over summer, we think the mis

trade war. can resume u.s. operations until august as seven-yearaive a ban. >> but it's bad news for macron, a patent dispute with the taiwanese rival triggers a sales man in china. >> hello from sydney where it's just that 8:00 a.m.. we are two hours away from the open. >> and just past 6:00 p.m. here in new york. over this hour will be looking at how the action in wall street will play into asia-pacific trading day. you set it at the top, what was good yesterday was bad today in terms of tech. they were definitely the biggest loser, taking a look at where the markets are headed, the financials were the second biggest loser here, but it was because the chinese court temporarily banned macron from doing operations in china. also we are talking about how the u.s. actually blocked china mobile from doing business in the united states. so more escalation in terms of the sentiment weighing on both u.s. and china as well as the world in terms of where we are headed, especially friday, with those $34 billion in tarif

u.s.. this has been litigated multiple times in the american free trade agreement. the construction industry in the u.s. is not particularly concerned because the lumber producing side -- it is one of the -- >> our guests are josh meltzer and dan griswold. we're talking about the impact presidents the enacted in the last month. googlers for independent line now in west virginia. good morning. >> i would like them to address the fact that before trump, under obama, we lost thousands of factories. europe put unfair tax on american products being sent there. address the fact that companies will come to the u.s. to avoid tarriffs. costs because of the trade deficit, people are unemployed and on food stamps all over the country. people talk about the consumer. what about the trade deficit? what is the solution? daniel: you put a lot on the table there but i would say we should not worry about the trade deficit. it is not a function of trade policy. the trade deficit is driven by deeper macroeconomic levels having to do with national savings and national investment. the fl

meanwhile the u.s. trade wars are all new gender of this year's tenth anniversary bricks summit each year the world's emerging economies comprising of brazil russia india china and south africa got there for three days and not a correspondent you could have done a report from johannesburg south africa where the summit is now on day too. heightened security swarms of journalists and lots of vehicles with diplomatic license plates this is pretty much the city of johannesburg right now the south african host city for the twenty teen breaks summit one breaks was formed like about a decade ago it was formed with the goal of the member states accelerating their own economic growth which are they are already implementing secondly they created that the new development bank but also its main purpose has been to serve as a counterbalance to more traditional economic powerhouses mainly the united states now with the president don't will trump in charge in the white house he's been quite trigger happy when it comes to st

but president trump says his actions who helped cut the u.s. trade deficit by fifty billion dollars these tax cuts particularly on the business and investment side are going to be boosting wages livelihoods and jobs for middle american ordinary workin folks and it's starting to take effect and that's why i agree with president this is a boom that will be sustainable wage increases have not kept up with overall economic growth but for an administration facing a lengthy probe into the president's ties to russia and a diplomatic feud with allies a growing economy and rising employment numbers even in manufacturing is cause for celebration and a hastily scheduled presidential appearance we have added three point seven million new jobs since the election a number that is unthinkable we are in the midst of the longest positive job growth streak in history those numbers could prove hard to sustain as u.s. trading partners around the globe raise tariffs answering a trade war set off by trump himself john hendren al jazeera took the shares have lost more than

but president trump says his actions who helped cut the u.s. trade deficit by fifty billion dollars these tax cuts particularly on the business and investment side are going to be boosting wages livelihoods and jobs for middle american ordinary working folks and it's starting to take effect and that's why i agree with president this is a boom that will be sustainable wage increases have not kept up with overall economic growth but for an administration facing a lengthy probe into the president's ties to russia and a diplomatic feud with allies a growing economy and rising employment numbers even in manufacturing is cause for celebration and a hastily scheduled a presidential appearance we have added three point seven million new jobs since the election a number that is unthinkable we are in the midst of the longest positive job growth streak in history those numbers could prove hard to sustain as u.s. trading partners around the globe raise tariffs answering a trade war set off by trump himself john hendren al jazeera. at least two firefighters have

u.s. of provoking a trade war. maybe. we've noted that the u.s. has again threatened to impose new tariffs on five hundred billion dollars worth of chinese products. not only that it's also made this kind of threat to other countries and regions. later that week. a further escalation could have profound effects european companies operating in china fear they could end up caught between the front lines of a trade war and there are widespread concerns the dispute could easily slow global growth. despite the diesel scandal mark the sonny bird in weather has the capital's cars gleaming and german carmakers global production is even expected to climb to sixteen point seven million vehicles this year the industry's top lobbyist their hard matters says they're in good shape despite the diesel fumes but the trade dispute with the u.s. threatens to dampen the optimistic outlook. i'm very much concerned because tariffs and trade barriers are. nothing that is really good for global trade we need open markets common standards and low tariffs and that's the. t

imports and now trumpets ordered the u.s. trade representative robert lyon hisor to place tariffs on a further two hundred billion u.s. dollars worth of chinese goods including food and agricultural products the chinese government has called the plans unacceptable. infamously the u.s. is being a typical bully on trade china will take necessary action to protect our legal rights i also want to add to this is a fight between you need a truism and multilateralism protectionism and free trade and power and rules china plans to hit back and has filed a complaint with the world trade organization now all this turmoil means it's a very busy time for china's castanets officials explaining what billions of dollars and tariffs could mean for the company's twenty factual defacto products takes takes time as trouble china is encouraging companies to push towards operates for markets and it's ambitious belt and rolled initiative even the project itself has seen some setbacks. as its trade war with the u.s. rages on china is anxious to show it c

imports and now trump has ordered the u.s. trade representative robert light hisor to place tariffs on a further two hundred billion u.s. dollars worth of chinese goods including food and agricultural products china plans to hit back and has filed a complaint with the world trade organization and let's bring economist hung up on this you said that trump is rights to be angry at america's trading partners why. yeah because united states defense and in their current account in the trade accounts for now i think something like thirty even forty years and indeed trump was right in saying this is to a certain extent unfair because free trade shish and trade should be trade without permanent balances on the one side and the other side so something has to be done on the surface country either on the surface countries or the deficit turkey ok but it's not europe's fault that the dollar is weak and pushing up energy inflation is not china's fault that america is driving up national investment and not savings when the us isn't near full emplo

meanwhile u.s. trade wars are on the agenda of this year's tenth anniversary brics summit let's across live now to johannesburg done off now joining us live here on the program a good to see you go to so what are we looking at expectations wise for this summit to achieve. well rory today's the main day of the break summit the wednesday was dominated wednesday's agenda was dominated by business and with putin's arrival today the leaders of the world's most with the world's leading economies are set to sit down together for the for this anniversary summit in less than an hour's time from now at least according to the show the word we hear from the ground is that this year's gathering will be quite unlike compared to anything that we've seen previously and that's mainly because well you have to look basically out the goals that the brics countries are pursuing when they when the nations when the world's leading. developing economies were first kind of again bonding together and kind of you know speaking to e

u.s. likely to impact trading. the u.s.tice department onealing a judge's decision the at&t time warner takeover. this reopens the government battle to halt the $85 billion megamerger. vulnerable merger is as the review this with the lower court. the lowerto see if court made any mistakes in giving the green light to at&t. extended down 1.25% in hours. friday's trade will be an indication of what this could mean. basically, the justice department filedbasically, the e department filed a one sentence decision saying they would appeal in a federal court and this is with the battle lines are drawn. if they would win at the appellate level, they would undo what happened in a stinging rebuke, a major loss for the trump administration and it would indicate a decision by the head of trumps antitrust division where they thought they needed to challenge the time warner takeover and the case is being closely watched because while many anti-trump cases work their way to the core, this is the first one that was a giant merger of compan

over the bow trade organization the u.s. also trying to get other partners on board like japan. also like china and other asian countries to show the americans that they are isolating themselves and if there is a real trade war then of course the the european union could also come up with other tariffs they could retaliate against let's say the american services industry like or and as you know google this is also likely but of course the u.s. wants to avoid that. alexander i want to talk with you now about the mood there in the united states that you're all too familiar with we know that american farmers and business is that they're taking a hit from this harsh trade policy and that the trumpet ministration actually announced on tuesday that it will provide up to twelve billion dollars in aid to farmers who have been hit by these tariffs. is it likely that trump is going to maintain this course given that pressure. well you're right that at the moment he's facing a lot of pressure and a lot of criticism from manufacturers here in the u.s. from the u.s. industry from farmers as y

rising trade tensions with the u.s. behind the blast. trade tensions appeared sending the dow up 172 points yesterday. turning to you as you can see from the nasdaq under a lot of pressure and a lot of that is technology. the face but disappointment of course. but i was up 20 down by six. gerri: europe stocks open higher in trade tensions with european automakers leading the way. cheryl: stocks initially mostly lower the cost of the index in korea moving higher. gerri: despite easing trade tensions come to u.s. companies announcing the impact of tariffs. the price of a can of coke expect it to rise. "fbn:am" starts right now. trade 25:01 a.m. in new york. thursday, july 26. good morning, everybody. i'm cheryl casone. gerri: i'm gerri willis in for lauren simonetti. trade to the nasdaq under a lot of pressure. we look at that news in a moment. first, some breaking news overnight. a homemade him exploded near the u.s. embassy in beijing. police said the blast injured the 26 year old man holding the device made out of fireworks. the u.s. emb

trade of course between the u.s. and u.k. is mostly in large parts pharmaceuticals it's in terms of the united states shipping to the united kingdom that's mostly cars and it goes in reverse with aircraft and aircraft parts now. the e.u. is still in negotiation with with britain and what ching everything that happens here in europe especially mr trump in the last couple of days what is the sentiment towards the end of the week where you are. well certainly the last couple of days have made things easier it was a terrible week here in terms of the breaks of negotiations with first with david davis a get out of the government being replaced by another hard line of then we had chaos and entirely in sewing and when boris johnson left the government too and now looking at the white paper of course we see that a lot of details here look more like britain wants to move towards softer breaks it rather than the heart breaks and of course now the united states are weighing in the way donald trump just did certainly doesn't make it easy

u.s. has a huge trade deficit with these countries and the us imports far more from them than exports to them and any retaliation by those countries would by definition hit those countries far harder than the u.s. the u.s. economy is currently strong and now well outperforms other major economies so you know this is why one must question more because as well for her points out he's watching all the news there are unanimous they all agree that trump is his trade policies and his tariffs are a disaster ok last year for her let's write the comparison to the versus the u.s. policies versus global trade so donald trump goes to the global trading environment with the ability to leverage america's got a leverage in that economy and it can reshape the global economy. they went against the e.u. with no leverage they have a zero leverage against the e.u. therefore they've lost tragically against you and their dollars being marginalized and isolated as a result of it they completely misstated our misunderstood there at the equation between the u.k. and the e.u. when it comes to business and trade yes bu

u.s. soybeans and other products before a trade war raises tariffs on them but i think the growth number today four point one percent in the second quarter is good news but it's very temporary there are two important to the second quarter growth number one is that they were propelled at large part by a sharp increase in government spending coming off the increase of the budget deficit for earlier this year the tax cuts the second is a sharp spike in exports as traders accelerated shipments to get in ahead of the risk of higher trade barriers coming off the threat of trade wars but president trump says his actions have helped cut the u.s. trade deficit by fifty billion dollars these tax cuts specifically on the business and investment side are going to be boosting wages livelihoods and jobs for middle american ordinary working folks and it's starting to take effect and that's why i agree with president this is a boom that will be sustainable wage increases have not kept up with overall economic growth but for an administration facing a lengthy probe into the president's ties to russia and a dip

the u.s. trade with china and, of course, the numbers behind all of it. hey, edward. >> reporter: hey, cheryl. you know, china may be looking to see exactly what happens with the u.s. economy, trying to hope for a slowdown here. they're not seeing it as of yet, but the chinese immediately p slapping their own 25% tariffs, matching ours. but the chinese tariffs on u.s. imports like soybeans, suvs and crude oil. the chinese foreign minister says anyone trying to bully via trade is doomed to fail. the chinese ministry of commerce spokesman came out to say, and i quote this, this says the launched the largest trade war in economic history to date. this kind of taxation is a typical trade bullyingism which is seriously jeopardizing the global industrial chain. now this as the u.s. slaps $34 billion worth of chinese goods with tariffs, a 25% tariff. that starts today. $16 billion in goods will be under tariff starting in about two weeks from now. the administration saying that china still has not opened i

still ahead, trade turmoil the u.s./china trade tussle remains front and center we'll break down the impact straight ahead >> break out your credit cards we're hitting the malls. worldwide exchange returns and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. >>> a mega monday move triple digit top at the -- move to the back burner. >>> retail names to consider as summer kicks into high gear. >>> dinosaurs continue to dominate the big monster universal just hit at the box office monday, july 9th, 2018 our watching worldwide exchange on cnbc. ♪ >>> welcome back to worldwide exchange i'm dominick chu. >> i'm courtney reagan brian

u.s. cuba trade an economic council thanks john. you're welcome. after the u.s. did impose tariffs on chinese good beijing continues to fight back by placing thirty fillion thirty four billion dollars worth of tariffs on five hundred forty five different u.s. export products to china including agriculture commodities so we take a closer look and continue our conversation on commodities to do so we are pleased to be joined by rylan malt berger who is the associate director of agricultural economics and country risk i.h.s. market we love i.h.s. market rylan thanks for being here from columbia missouri you've had a busier than usual time with everything that's been going on with all the will he or won't he trade talks all over all where are we now and commodity prices and how have they been impacted by these trade wars well they are weak and that's not good for the market and we've been going down with corn a story in prices basically since the end of may and it's on a downward trend we've kind of stopped balanced up a little bit on friday just after the tariff came

u.s. u.k. trade deal in the works would now be up in the air one deal has to come before the other the u.k. account finalized trade pacts on its own until after breaks it earlier this year free trade between london and washington see more plausible even said a deal would be agreed quickly if the e.u. is the u.k.'s most significant market but the value of u.k. exports the e.u. has stagnated in the last five years while exports the u.s. has steadily risen over the same period. london now has a very fine line to walk it has to redefine relations with two of its most important trade partners at a time when the e.u. and the u.s. are themselves at loggerheads over tariffs. well for more on that i'm joined by callum pickering senior economist at bear bag bank in london i would like to start by asking you that britain needs to negotiate good trade relations with both the e.u. and the united states if you were at the negotiating table what would be your approach . well i'd certainly get my priorities straight

criticized donald trump's huge international tariffs and as dominic came reports it's not just the u.s. trade policies that unite beijing and berlin. when they meet on monday angela merkel and likud chang will do so as partners on the world stage trade links between germany and china are strong but right now all eyes are on their collective commercial relationship with the united states the policies of the trumpet ministration have caused them real concern on the ball garion leg of his european visit the chinese premier spelt out why bush. about views that trade war is never a solution china would never start a trade war but if any party resorts to increasing tariffs when china will take measures in response to protect china's development interests uphold your fortean efficacy of the w t o and safer multinational trade regime operating within that trade regime has generated vast amounts of revenue both in berlin and in beijing germany's total trade with china was worth two hundred thirty billion dollars in twenty seventeen a ten percent rise on the previous year but despite this the united st

improving the investment climate for foreign companies wanting to do business here in china but the u.s. trade representative office says the opposite it says that china continues to resort to what it believes are unfair trading practices basically using strong strong arm tactics which means that in some cases u.s. companies have to hand over their know how as a condition for doing business here that's why the u.s. says these proposed tariffs will be justified if they come into force but as you pointed out in your introduction there is going to be a two month consultation process now china has not sort of produced details of how it would respond if these terrorists do in fact happen but you know be assured they they will i think there is a sense now certainly amongst the markets here in asia that both sides have boxed themselves into a corner neither side seems prepared to blink the hang seng index in hong kong has dropped two percent on wednesday morning that is a sign really of that sentiment i think at the moment you know china is looking to try and strengthen alliances actually with other

u.s.-china trade war.s taken a beating, but trump is threatening to extend the tariffs to cover half $1 trillion of imports. speaking in europe, the chinese premier said the trade war benefits nobody. >> we are not complacent on the rate. a trade war would be fairly bad for the economy. victim would be u.s. jobs, u.s. workers. we hope it does not happen. juliette: one of the two people thought to have been poisoned by the russian nerve agent has died . they think the woman was exposed last week along with a man who remains seriously ill in the hospital. it was miles from where the former russian spy and his daughter were also poisoned months ago. the australian security regular seeking records of correspondence from seniors at westpac. that after a court ruling that they engaged in questionable contact -- conduct to influence a key interest rate. the judge noted questionable actions attempting to influence. movie's latest marvel talk to the north american box office with ticket sales of $76 million. --coul

a little historical perspective .n trade, u.s. trade the trade act of 1974 provides the u.s. with authority to enforce trade agreements, resolve disputes, open markets to goods and services. 1962, the trade expansion act gave the executive branch the ability to conduct investigations to determine effects of national security on imports. this is where we get some of the rulings on the tariffs under national security concerns. do you want to comment? guest: the caller put a lot of important issues on the table. we live in a messy world. we are not going to have perfect free trade around the world. the closer we get to, the more freedom consumers have. the more we can move resources to areas where we are most high technology, commercial airliners, services, things like that. the $800 billion deficit is in goods. the way that comes back is we run a surplus and services. we have a surplus in investment capital, foreign direct heretment capital coming to the united states. i run a trade deficit with my grocery store. i spent $150 a week at the grocery store. they don't buy anything

it's not just the u.s. trade policies that unite beijing. when they meet on monday angela merkel and likud chang will do so as partners on the world stage trade links between germany and china are strong but right now all eyes are on their collective commercial relationship with the united states the policies of the trumpet ministration have caused them real concern on the ball garion leg of his european visit the chinese premier spelt out why bush is here with about views that trade war is never a solution china would never start a trade war but if any party resorts to increasing tariffs when china will take measures in response to protect china's development interests uphold your forty and efficacy of a w t o and safer multinational trade regime operating within that trade regime has generated vast amounts of revenue both in berlin and in beijing germany's total trade with china was worth two hundred thirty billion dollars in twenty seventeen a ten percent rise on the previous year but despite this the united s

u.s.-u.k. trade deal.nant ministries and says it has done -- the trump administration has done -- has said it did what the court said to do to reunite children with their parents during the zero tolerance policy on illegal immigration. u.s. commerce secretary wilbur ross says he will sell all of his equity holdings as the government -- as the government could brings they the project for criminal violation but no evidence he violated conflict of interest laws. california is trying to avoid another record year for wildfires. , firesfirst six months blackened more acres than they did in the same time last year. 2017 set records for death and distraction. 85% of california's landscape is normally dry. power companies are blamed for fires and are taking steps to avoid another disaster. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. vonnie: thank you. let's bring in live pictures w