u.s. and china produced half of all the world's steel. promised toump has revitalize the u.s. steel industry and create new jobs. and that is why he has ordered and we have -- that is why he has ordered these tariffs on steel and aluminum. reporter: 45% on steel and 10% on aluminum. trying to put a stop to cheap imports of these products. but will these tariff actually help the american steel industry to recover? to ulriket me go back herrmann and go back to the opening statement. you said the u.s. can afford a trade war and donald trump has tweeted the same thing. but, can the u.s. really afforded. webs and far more are looking at the united .tates, a continent of itself to just put it differently, we have the import and export of 7% of the gdp.is that is very little compared to other countries. in german, exports are 50% of . and the the u.s u.s. has 320 million customers, mostly producing everything by itself. a trade war with the united states. a tradecould never make war. it would kill the economy and that is not true for the united states. who create reason this trade war. reagan is still very popular and that is exactly what donald trump knows, that politically and economically, it is always a good idea for the president to start a trade war. you can count on donald trump by stating a world trade war. we are being seen by many people , as this is shot largely across side.'s additionalcould sink boats. these tariffs are targeted at china under a u.s. law called property01

u.s. and the entire world. china does not want a trade war. aluminumf steel and from japan do not pose a threat u.s. national security and they have contributed to t . it is so, andreas kluth kind of interesting to see the products that mr. junker is citing. bourbon and harleys? >> and mentioned, it is the sandbox earlier. . theere is the surprise over products. the european union has picked the harley davidson and bourbon and oranges, specifically things that are not only immigration rules, but it has hurt the industries that have republicans donald trump has been suffered through the industry this way. of treang these people in such a way. i think they are trying to pinpoint and they are and they are trying to focus on trade in this way................ you sag statement that the eu should not rise to the opening provocation. do you think these measures would go too far if he resided to these. andhink they shohoho we have the 28th. in germany, you will notice, is urging caution and it is pe,e,e, like mr. junker who are more aggressive. during a moment like this, you have got to remember. donald tru

u.s. process against u.s. companies involving u.s. account holders, there shouldn't be an wouldeven frankly that come up in that situation and so having a conflict of law analysis apply doesn't make any sense. other than that i think that's the only one i can think of in this context. know it has only been a few days since the act has passed. if you are thinking through the practical implications of how this, toing to use what degree would these kinds of factors sort of shape when you will use the process under the cloud act versus try to negotiate with the provider versus asking them to litigate? off the pointd richard just made at least when it comes to us investigations in her view this legislation restores the status quo. process in the way we always have and traditionally have always done with respect to crimes that we are investigating under violations of u.s. law. interesting ist the bilateral agreement that we can negotiate with foreign governments because that is something that didn't exist before. at least in theory what we w

u.s. u.s. e-commerce giant amazon has lost as much as fifty three billion dollars of market value on wednesday trading its stock falling more than seven percent after u.s. based website axios reported president trump wants to go after amazon because he's worried about main street stores being put out of business the white house tonight any new policy changes towards an isn't but its stock plunged anyway. on wall street for us our markets man events against it's not just amazon us tech stocks overall are under pressure what's going on. well there is a quite some regulatory pressure all over the place we had the privacy issues with facebook where we had some concerns about the self driving cars and a good knowledge now that he might be on on amazon and even if the white house is saying that no action is a plan right now so what does right now mean not within the next five minutes not was and the next five days what we hear out of the white house is from different sources that u.s. president donald trump is obsessed with amazon and that he might eventually look at how amazon and other online retailers are text and we shouldn't forget a lot of the friends

u.s. how the allies of the u.s. have to approach the liberal trade rules the u.s. propagated it deposits a bigger story which we should focus on now why should gemini be punished for its prowess in exports its long had a strong export economy. yeah this is a good question you know president trump explicitly mentioned ultimo defenders just to give you in some numbers tariffs on imports that you in the car industry a significantly higher than tires in the automotive industry in the u.s. the germans can much export cars much cheaper to the u.s. and why source and the reason for that is the u.s. tried to liberalize the world by opening its market over the last fifty years under the shelter of the wu and this came to on hold in the late ninety's and you do you know still try to go ahead particularly with the european union for example with fifty eight but germany in particular was very reluctant there was this movement against to tip and this has created a lot of frustration in the u.s. not only with the trump administration also with the obama administration in this con

u.s. dollar weaponization of the u.s. dollar right now is the u.s. dollar not already weaponized ok because the u.s. dollar is backed by nothing and less you want to include the pentagon and when countries try to get out of the u.s. dollars or one reserve currency they turn to me a militaristically and so far it's been weaponized all along and so how is this different really i mean it's always been about the u.s. dollar debt being imposed on a world in exchange for cheap goods speaking of these trade deals remember i mentioned t t i p t p p the two big trade deals that hillary had wanted she was championing them as secretary of state obama was negotiating those over the years and they were so close to signing but it didn't get to the point where they could sign it before obama left office and of course people in wisconsin in pennsylvania in ohio places like this they did not want those trade deals because they already saw that the trade deals like nafta well there's no real trade deal with china it's just free trade with china china has their own sort

u.s. dollars. hugethe u.s., we are surplus. when you think about u.s. o china, i don't think any government when to take any reaction to block the agriculture trade. not only is it bad for china's consumers it would benefit more u.s. farmers. >> president trump has made a lot about the trade surplus that china has with the u.s. what costco consider buying more u.s. agricultural food or other products as a way of redressing that in balance? cocco has been trying very hard. -- cough cold has been trying very hard. -- >> is that something your counseling the chinese government against, using the soybean trade? >> i don't think president trump will do anything ridiculous to really make the whole world very collocated for china. the china government is encouraged to buy u.s. soybean. i don't see anything that the chinese government is doing anything to affect the normal u.s. and china agricultural trade. >> do the assets that you acquire to the purchases of need cofco ifhey insulate these trade tensions were to escalate? america,ut in south argentina, brazil,

u.s. industry saying europe will act firmly to defend its interests. >>> shares sink in lafarnge as they announce a 4 billion charge >> everything we sell is produced in the u.s. so we are from that angle, we are not concerned with the tariffs. the u.s. is the best building material market in the world and we are planning quite agile investment strategy for the u.s. >>> and in italy it is said the current party manifesto lacks long-term substance. >> there is very little structural a lot of proposals to make people happy in the short-term >>> shockwaves are being felt across global stock markets after president trump said the united states would impose tariffs on steel and aluminum imports. tariff said duties of 25% for steel and 10% for aluminum would be announced next week stoking fears of a trade war. in europe big steelmakers are seeing a selloff salzgitte down 3.7%. and acrcelomittal said there are still producers around the world who should work the issue of overcapacity saying it was assessing the impact of u.s. tariffs on its business. in japan the president of nippon steel called the move regrettable. saying it would have an impact on trade and lead to lower stock prices chery kang is in hong kong tell us about the local re

u.s. president are likely to cause damage not only outside the u.s., but to the u.s. onomy its, including manufacturing and construction sectors which are major users. >> translator: we hope to find the opportunity to tell the united states steel and aluminum imports from japan, an allied nation, pose no threat to national security. >> from germany, leadership saying it endangers thousands of jobs in europe. they will respond. >> translator: the european commission is already prepared with counter measures for specific products. it appears the u.s. does not understand any other language. >> so, how would these tariffs work? what would it mean for workers in the u.s. and around the world? >> tom foreman breaks it down for us. >> reporter: look at the numbers here. the united states imports a third of the raw steel it uses and 90% of the aluminum it uses. the tariffs would push the cost up 25% and 10% respectively. that's money that would have to be paid by the foreign companies to get their product on u.s. soil. if it became more expensive for them, it could help u.s. p

u.s. may back off from last week's protectionist posturing most recently meeting u.s. trade groups have urged president trump to stop plans to slap tariffs on chinese products forty five association representing sectors from from high tech to agriculture said in the letter that sweeping tariffs were triggered a chain reaction of negative consequences for the u.s. economy. meanwhile u.s. allies are scrambling to seek exemptions from the tariffs that trump wants to impose germany's economy minister is currently in washington for talks the e.u. trade commissioner will join tomorrow and the clock is ticking new u.s. import tariffs on steel and aluminum could be imposed as early as friday. the new tariffs come into force on friday and in some ways the german and european steel industries could simply sit back and relax after all steel and aluminum make up only a very small proportion of european exports to the us and yet the e.u. will be the trading partner to be hit hardest by the new taxes. the e.u. as a whole all twenty eight countries would have six point five billion dollars worth of steel and aluminum exports affected by the new tariffs it's followed by china with an export volume of around three billion dollars germany would pay taxes on a total of one point seven billion dollars worth of such exports each year that makes it the country mos

u.s. dollar standard so this is another headline relating to the u.s. dollar and trump. between tax reform aka capital controls with u.s. characteristics tariffs and sanctions the u.s. appears to be accelerating the weaponization of the us dollar the us will likely soon find this to be an even bigger mistake and sending large amounts of u.s. jobs factories and ip to china he was responding to a tweet about a steve who says chumps is supportive of treasury work on russia sanctions says to expect sanctions in next several weeks on february twenty seventh he had said to expect within thirty days the notion of sanctions. of course you know another guest of our soon workers has talked about this as u.s. dollar weaponization of the u.s. dollar right now as the u.s. dollar not already weaponized because the u.s. dollar is backed by nothing unless you want to include the pentagon and one country is trying to get out of the us dollars or one reserve currency they turn to me a militaristically and so sort it's been weaponized all along and so how is this different really i mean it's always been about us dollar debt being imposed

u.s. and china. has counseled the u.s. president against imposing tariffs. he made the comments in an exclusive interview with bloomberg. >> there is no doubt that there is a serious imbalance between the u.sand china in terms of market access. and tariff levels. areas, investment limitations and part of this happens in the natural course of things. juliette: global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . checking in on asian markets. we have seen the yen gained some further ground on the safe haven by. what does larry kudlow at the national economic council mean for the asian region? there could be potentially more retaliation in terms of a trade war with china. the nikkei did close higher up being in thefter red for most of the session. chinese stocks are mixed, a little bit of weakness coming through and we saw some weakness in commodities on the asx two that has supported the overall kospi. the best performer on the nikkei 225 after a broker upgrade from goldman sachs. cathay pacific had a number of upgrades after coming through with numbers yesterday. jpmorgan updating i

u.s. passenger cars coming into the e.u. because they're higher than the tariffs that the u.s. imposes that would be a way to get on trump's good side and by the way there are not that many u.s. patched companies cars on the road here in the u.s. so probably wouldn't hurt all that much well here's something that probably won't help get on trump's good side german exports grew of eight percent in january we've just learned compared to the same time last year isn't germany's export economy more vulnerable in this particular kind of trade dispute. it's especially vulnerable because there are so many hundreds of thousands millions of jobs dependent on exports in germany and did not make the united states is the biggest single customer of german exports and china is the largest trading partners when you take imports and but over one hundred ten billion euros in german goods went across the atlantic to the united states directly so the economy and the jobs here are directly exposed to day i also counts that playing out on the markets that way you well how's it going down right now. we see negative share price developments all across europe london and paris are holding on italy as we

u.s. agricultural exports. according to the report the discussions will be led by china's economic czar leo her u.s. treasury secretary steve maneuver and u.s. trade representative robert bly hisor u.s. president donald trump had recently threatened to impose tariffs of up to sixty billion dollars in chinese imports the chinese have said they won't be bullied. the money found they did misjudge the situation and underestimate china's determination and capacity for defending its legitimate interests they also underestimate the price the u.s. has to pay for its reckless behavior. u.s. business leaders in china are warning that a full scale trade war would not benefit either side. the response from our members has been one of concern that these actions could be to a trade war which is something that nobody wants to see at the same time it's important to recognize that there has been a growing sense of frustration within the business community about the lack of progress on market access openings in china is increasing use of industrial policies minucci an unlighted highs are sent to you a letter last week spelling out requests including greater

u.s. the u.s. you know this this new triumvirate of bloody geno and pompei of the volcano will be handling the. start well i think he's on his way home and kelly has got a name i think they're on their way out there too saying in moderate on military matters it may take six months but i think they're both gone so i iran iraq iran this is what will push. he it in a celebration of the terrorist former terrorist group now recycled by the u.s. they've removed their terrorist designation the m.e. came. next part of the program i want to ask you is this also which against russia using the rand is a part of the equation that's part of the equation and certainly russia simply exist resisting the united states in syria bolton is a is a cold of american supremacies exceptionalism he cannot tolerate that some democrats have suggested that bolton is too soft on russia for them which is a is it maybe i'm a pretty amazing but i never met a in an exercise of u.s. military power or in power that he's in and he doesn't like hold up thought gentlemen we're going to go to a short break and after that short break we'll continue our discussion in the war party state with our. fundamentally the united states and russia are have been for decades to scorpions in a bottle each capable of destroying the other but only at the price of being destroyed itself. putin said well these weapons will overcome u.s. missile defenses u.s. missile defenses

u.s. economic data fairly solid u.s. inflation is gradually adding up the u.s. economy definitely no longer needs the support of very low interest rates the fed is right to gradually normalize its policy stance now how hard would a veritable trade dispute between the u.s. and some of its biggest trade partners hit the u.s. economy the sad news actually is that such a dispute would hit the trading partners much more than the u.s. the trading partners such as germany depend a lot on the trade with the world including the u.s. the u.s. depends less on trade so a trade dispute would be both bad for both sides but it would hurt trading partners even more so than the u.s. economy. now the united states that's steadily raise interest rates in its economy has been improving in recent years the picture looks much different in the euro zone where economic recovery has been slower to take hold not consequently the european central bank has taken a different path than the u.s. federal reserve it's kept its key interest rate at zero and that is unlikely to change however in j

u.s. -- u.s. house of representatives and the u.s. ambassador to mexico. thank you for stopping by. former rep. jones: thank you. [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> next week is the 50th anniversary of martin rethinking junior's assassination. we are live from the university of memphis holiday inn with taylor branch. eastern,, 4:30 p.m. live coverage of the outdoor service in front of the site of the assassination, with remarks of civil and religious leaders, including is a jackson. -- aty at 8 p.m. eastern 8:00 p.m. -- a portion of his here in atlanta. wednesday 8:00 p.m. eastern, live coverage with civil rights leaders past and present. the 50th anniversary of the assassination of martin luther king jr., live next tuesday and wednesday on c-span and "american history tv" on c-span3. >> 50 years ago on march 31, 1968, president lyndon b. johnson announced his decision not to run for reelection that year. up next on "reel america," lbj

u.s. officials charge they created and managed fake online person as that reached millions of people in the u.s. u.s. officials believe vladimir putin is overseeing a broader cyber campaign against western targets. james lewis is a cyber-security expert. >> they've gotten away with all these things in the last three or four years. it's been pretty much a penalty-free ride for them. >> reporter: you won't find a lot of people who believe that sanctions alone will stop the russian attacks. today, an alert went out warning that russian hackers are targeting power grids and other critical infrastructure, but so far, u.s. officials believe that they have been able to disrupt the attacks. jeff. >> glor: jeff pegues, thank you very much. new documents may link the trump organization to efforts to silence stormy daniels, the daylight film actress who has claimed she had an affair with mr. trump. a trump lawyer signed the documents, regarding $130,000 payout to daniels. the trump company insists it had no involvement in the matter. saudi arabia's crown prince says that if iran builds nuclear weapons, his cou

u.s. down. -- the asian equity session is moving along with the u.s., down. s&p futures could be weaker. it is flat in terms of the u.s. 10 year yields, on the european bonds market, we are pointing out we have seen the yields dropping. investors may be getting into the safety of bonds amid the turmoil in the white house. matt: let's take a look at the and futures, and the pace the russian will see in today's trade. german bond futures just getting out of the gate right now, or the cash trade, i should say. the futures are up a little. you will see the yield come down a little. the same is true of futures, as well as u.s. 10 year futures. yield.ow we see the let's get the bloom -- bloomberg first word news from juliette saly. state of in the pennsylvania, the outcome of the special election hangs in the balance. is lockedonnor lamb in a tight contest. it may be a bellwether of who controls congress. all precincts are reporting results. a 500 vote.to donald trump will speak to theresa may the assassination attempt on the former spy. acknowledging russia was likely to blame, he has stopped short of promising to get invo

u.s. treasuries and as you mentioned was that it's the biggest foreign creditor to the u.s. but if we look ahead the u.s. is and running a huge deficit and that's rather likely to increase especially with the tax cuts that the new and the administration just implemented so the u.s. depends on foreign buyers to keep buying a u.s. treasuries and if china would stop doing so that could have huge implications on the financial markets and also for the economic growth overall yes until then we will just be thankful that it's friday thank you very much for the analysis and for reports throughout the week. now the worse case scenario of this tariff conflict that's remind everyone would be a trade war were all global economy start imposing levies on each other however it's important to remember that trump is doing this as a retaliation for what he and many others consider unfair trade practices from china needless to say it's a controversial topic. if you thought it was just a spat between the u.s. and china think again the contagion from trump's tariffs will reach european shores weighing on global trade as a w

u.s. u.s. said it was responding to new nuclear weapons including a sea missile. >>> this morning president trump announced he's slapping step penalties on trachltd some of mr. trump's fellow republicans are lesses that pleased as well. as margaret brennan reports the new tax would make goods from cars to air conditioners more expensive. >> it will be 25% for steel, 10% for aluminum. it will be for a long period of time. >> industry ceos gather at the white house celebrated the president's decision. but the surprise announcement triggered a market selloff as concerns swirled whether the tariffs will spike costs for u.s. manufacturers or even treyger a trade war with china. the president routinely accuses beijing of unfair trade practices. >> what they do is dump mass ichb amounts of product in our country and it kills and destroys our companies an our jobs. >> chinese officials were also caught off guard. president xi's group was responded. senator sherrod brown, a democrat, cheered the decision, called the plan long overdue. senator john kennedy of louisiana. >> once you start imposing tariffs, you don't do it in a vacuum. other countries respond. >> nebraska senator ben sasse called the quote a massive tax increase on american families. you expect a policy this bad from a leftist administration, not a supposedly republican one. >> i don't know that the president will or should ever apologize for protecting american workers and certainly not to senator sasse. >> it has been a difficult week for the president. his closest and longest serving aide hope knicks announced her resignation and he saw his

u.s. diplomats? are there even 60 u.s. diplomats in russia? greg: the russians have been spelled out exactly what they're going to do but they said their response is reciprocal. we will certainly see. matching numbers of diplomats ousted. , thell be 60 for the u.ss. civil medic presence was substantially cut last year in response to previous expulsions by the u.s. and of russian diplomat. there are still 450 now diplomatic personnel that will go down some. but certainly, this is the kind of thing we haven't seen since the depths of the cold war. mark: is there an economic impact? it spirals, there could be sanctions already have been limited. the eu says further expulsions could be announced soon. can we make a link to this and the economy, or not? greg: i think the direct economic impact is limited a little bit, it could take longer to get visas and there will be fewer trade missions, but the broader impact is really about the relationship and the atmosphere and the remarkable unity across the european union in support of this. market step is rather badly, generally the ruble and russian stocks have been doing ok, with a general sense that the markets are going to be terribly badly affected by these tensions and then sold off some after the ac

u.s. territory the three point five million people who live there all u.s. citizens do you feel abandoned by the u.s. government how would you judge the current u.s. government response to this social meltdown in puerto rico. of the u.s. government response has been inadequate has been inefficient and has been inappropriate and there has been some people in the champ administration that have been. but i would say honest enough that they have admitted to that but the american people have been very upfront have been very open hearted and the world so you we have to make a very big differentiation it in the trump administration which will now say that they are dumping millions of dollars in puerto rico and what we want to make sure the american people know is that we haven't received that money that transformation has not taken place as u.s. government agencies and institutions were widely criticized for their handling of puerto rico's crisis a un rights expert even said quote we can't fail to know the dissimilar urgency and priority given to the emergency response in puerto rico compared to the u.s. s

will move on to talk about what is happening from china to the u.s., but we can't talk a trading day in the u.s. without talking about the u.sations read -- relations. in on the weighing markets on trade and facebook, technology shares, and those are driving down the markets again. we did see that the rebound overall. haidi? haidi: we are still expecting this package of china targeted tariffs to come by the end of this week. we are also talking about a cheap economist talking about the fed. as the u.s. economy been strong enough to go from three hikes to for? ur.to fo ♪ yvonne: it is 7:00 a.m. here in hong kong. i am yvonne man, welcome to "daybreak asia." a second day as congress prepares an investigation into the mishandled data scandal. the company at the heart of the uproar suspended ceo of cambridge analytica, saying it alexander nix's secretly recorded comments are unacceptable. betty: i am betty liu, in new york. the finance minister failing to block president trump's tariffs. they also blocked their resistance to protectionism. yvonne: i

u.s. goods than the u.s. has on eu goods. if things that everybody has bigger walls put up than the u.s. does. bhanu: the u.s. ously and the global economy benefits tremendously from trade. it cannot be denied that china has taken the intellectual property from many different countries, and they have used that to push their investment. many countries would have sympathy for the idea that china needs discipline. i don't think that the chinese themselves would disagree on that. i think there is room to move further in that direction, but tariffs across the board changes the game completely. we are talking about technology, which has led both emerging and developing markets in the last 80 months. forou get across the board tariffs on china, it is going to impact further down the chain. foran have some implication developed markets, ip stocks as well. i think right now the market in emerging markets are at slightly greater risk if the u.s. were to impose such tariffs. matt: as far as your actual trading decisions, you like emerging markets previously, and now you are shifting towards a preference for u.s., and eur

u.s. -- then we saw u.s. markets. the drops were not bad on the u.s. markets. far as forex is concerned, we see a little strength, investors going for other safe haven plays and that was one of them as well. take a look at the commodities trade, take a look at what we saw in bonds and all of those charts here. for copper,gains that is a sign of optimism and asian investment and as far as sovereign bonds go, we saw investors selling the short end of the japanese curve pushing the two year yield up to 1.5%. is a longer -- we did see investors buying for the perceived safety of government. we do have positive errors across the board. investors are going to shore up their portfolios into the long easter weekend. there is no trading tomorrow and monday. you see eurostoxx futures up. are up .25 ofes 1%. this is a three-day chart of u.s. treasuries. we saw the yield come down below 2.8% yesterday in the u.s., that wethe first time since 2017 have seen at that low. we are holding at that level. the question now is we have had a number of guests who are short u.s. treas

u.s. steel tariffs germany's economics minister i believe is looking at a similar way to avoid u.s. steel tariffs. yeah exactly well the deal between the u.s. and south korea also means that u.s. car companies will be able to export the double amount of u.s. cars to south korea without paying terrorists as well and yes peter as my you just mentioned the new german economy minister seems to be in favor of a similar compromise as well others are saying that this would not be the right way to do it and that could give donald trump a signal that his a very protective actions would be already accepted as my also stated today that germany can not negotiate as a country all those negotiations about tears and also about possible compromises will be done on the european level but yes the pressure is certainly on those exemption that the european union is right now having only in place until may now a question mark it certainly asked slowly but surely recovering from last week's the losses it looks like investors are maybe hopeful that a trade war between the beijing and washington can be averted. yeah you're right you can feel some optimism here on

u.s.-china u.s. trade tensions, and one of the reasons the u.s. was holding back. a change for the u.s.-china trade story? richard: probably not. it is certainly taking president trump at face value, his views of north korea seem to be driven -- a trackround u.s. record of the u.s. as a global military power, rather than the trade story in isolation. trade deficitthe is still getting worse in the u.s. and the bilateral debt with china is trending the negative direction, it won't do much to change. we have to see something remarkable on north korea driven by the chinese for trump to feel he owes them something on the trade side. yvonne: looking at what we have seen when it comes to some of these trade pairs that finally came through, the president putting money where his mouth is, with of exclusions on mexico and canada, given the fact china is ats was what drove synchronized story, how much does this muddy the trade picture for you now? richard: it definitely muddies it. confidence is not the issue. global trade in steel and aluminum does not drive the trade saga.

u.s. ambassador to the united nations, nikki haley, going to honduras, clearly the ambassador there, the u.s representative there deem involved in what has taken place with the swarg-in of the president before a correction of the elections. your thoughts on what's happened in honduras, the u.s. attitude towards, the u.s. actions towards venezuela, putting certain venezuelan leaders on a list of those banned from entering the united states and taking other punitive measures against resident maduro. >> amy, it's quite visible that the united states is interfering in the countries of central america. it's there's u.s. interference. in many countries of central erica, the u.s. ambassador behaves as though they were elected by the far right in the ountries of central america. what i deeply regretitititititi learned to live democratically with the countries of central america and with the countries f latin america. amy, in january of 2003, i had been president of the republic for less than one month, and there was already a conflict underway between the united states and venezuela, and i was in ecuador participating in the inauguration of the president of weak door when i met with chavez. and i of a group of friends of venezuela, so it should be able to guarantee democracy in ven

u.s. where the u.s. is vulnerable so where is the u.s. vulnerable because the u.s. actually has you know a lot of cultural products going to china china is now growing more soybean and corn so if they basically say we're going to stop importing. your story being in corn us then a lot of the farmers are going to get upset and this is also a big lobby in the u.s. . they could also basically decide that they're not going to go forward with all the boeing airplanes and turn to airbus instead and so this would also hurt you know u.s. manufacturing in a way. or oil and gas and the other big u.s. expo. and china was importing a huge number from the u.s. last year but you know china basically is buying a huge chunk of aramco from saudi arabia they clearly are trying to secure other oil and gas from other countries like russia and so they're basically diversifying all their imports and this way if they decide that they don't want to import from the u.s. it would not be too painful for them and so china is not going to just sit back and you know pretend that you know everythin

u.s. and north korea and the u.s. in china. just details from this renegotiated core of the trade deal --u.s. kers getting more access to korea and doubling the number of cars each american carmaker can sell to south korea by 50,000. it is unclear how beneficial that is given the numbers they are selling now fall short of that limit. on pickup trucks extended until 2041. president trump will no doubt call this a major win. rishaad: agreeing to double to 50,000 the number of cars that these u.s. automakers can sell. gm, which2016 that was the most popular brand in south korea, sold just over 13,000 vehicles. way shy of what you mentioned. let's get over to our correspondent in singapore. looking at these lines from shinzo abe mean about anticipated talks between donald trump and kim jong-un. he is looking into what kim jong-un got out of beijing. correspondent: yes, it is interesting. japan and should lobby have -- s the odde have been one out on these talks. korea and south korea making steps to end their long impasse and china is engaging before the u.s. engages and japan has been the only on

u.s.-saudi war. jets,u.s. refueling saudi u.s. providing arms and bombs, u.s. oviding intel the saudi officials, diplomatic cover in international forums. yet americans don't know enough about it because the media does not cover it. and what it does, does not mention the saudi role. it has been a disaster. no end in site. india said in the "60 minutes" interview, it is the fault of the who thes -- who these and iran, china prospect of bringing the war to an end. we rightly get agitated about bombing elsewhere, but that is a dictator who we are not arming, who we are not supporting an in yemen, there's a war going on which has horrific humanitarian consequences and that is a do support ine arms. i find the whole thing slightly absurd and morally grotesque. the u.s. is not pointed do anything. to go back to the earlier question, mbs' is it is such a big deal because he is a close ally of the u.s. donald trump and office claiming he was going to be a saudi critic. when he was running for election, he used the saudis of being behind the 9/11 attack. he wentming to o

u.s. you're watching news you have been watching there the u.s. commerce secretary just beginning to speak wilbur ross before him the u.s. trade representative and before him the u.s. president donald trump we heard that the united states will be taking action against china that includes filing a case against with the w t o against china we heard the u.s. trade representative mention cyber theft that they have evidence that that is the systematic problem there in china we also heard. u.s. president donald trump taking issue with the trade deficit with the nation and we also heard it mentioned that there could be more tariffs issued joining us now here in the studio team coverage stephen bear is lee from our business desk and we also have in washington with the very latest claire richardson is standing by for us as well stephen i will go to you first from the business perspective what do you make of this. i mean we've known about it for a few days is coming over for a certain period of time i think everyone's waiting to see what the reaction is going to be out of china i think that's a big question i think is going to be t

u.s. is going to go into recession possibly in 2019? gerard: it can only go so far. as the u.s. goes down, you would expect the rest of the globe to be under pressure as well. probably for european equities to underperform less than where u.s would be. i prefer european equities over u.s. equities, if the u.s. gets and trail -- trouble, everyone is likely to suffer. matt: if we go back to this chart we used previously. this is the recession odds chart that i showed at the beginning of the show. you can see u.k. recession odds spiked up to 50% right after the brexit boat -- vote. they have recovered substantially, but what do you make of the u.k. economy as we get closer to some idea, some shape of how brexit is going to look? gerard: i have concerns going into the u.k. economy given what has happened in brexit. there are a number of concerns. dutchk. has responded market has responded and the economy has probably respond better than some have thought. in terms of risk positioning, that would equate to be underweight u.k. equities. anna: how much are you watching from investors perspective, how much are you watching transition talks? the delegation wants to nail down the legal language around the departure of the u.k. and t

u.s.. also, the u.s. markets competition is fierce. ,he japanese finally survived and even the german companies cannot survive that well in the u.s for companies, they will not survive and make profits in the u.s. or bring profit back to china. the church50 joint in china, does that help partners? >> i think that is another lesson i can teach elon musk, the 50-50, the foreign partner and chinese harner will -- chinese partner will have profit, but the foreign partners profit is always more than 50%. on the other hand, i think the 50-50 is not as important anymore. a u.s. president would not negotiate aggressively to help a small company break 50-50 rules. [indiscernible] yvonne: that was wm motor founder on some lessons for elon musk in china. coming up, millions of your favorite songs will be for sale. will sony by them? this is bloomberg. ♪ yvonne: this is "daybreak: asia ." betty: millions of music hits may soon be for sale, but you might purchase them? has thisreporter fascinating story in tokyo. what would the deal mean for sony? are they likely to jump in on the sale? you know, sony already owns 40% of emi publishing, so to

u.s. access to the chinese financial sector and the reduction of chinese tariffs on u.s. vehicles it also requested china increase its u.s. semiconductor purchases minucci was reportedly also considering a trip to beijing to continue the tunks. ride hailing from selling its southeast asian business to bigger regional rival grab that moss the u.s. companies second retreat from an asian market it is the industry's first big console the days inn in southeast asia home to about six hundred forty million people but will get a twenty seven point five percent stake in grab in exchange rivaling companies throughout asia have relied heavily on discounts and promotions in the highly competitive market that's driving down profit margins and increasing pressure for consultation the deal is the latest attempt to shore up its finances and refocus its business ahead of a planned initial public offering. egypt sions have begun three days of voting to elect a new president but there are few doubts the president up to fatah. will win a second term his supporters say he's brought stability to a country rocks rest since twenty eleven that i

u.s. where the u.s. is vulnerable so where is the u.s. vulnerable because the u.s. actually has you know a lot of cultural products going to china china is now growing more soybean and corn so if they basically say we're going to stop importing. your story being in corn us then a lot of the farmers are going to get upset and this is also a big lobby in the u.s. . they could also basically decide that they're not going to go forward with all the boeing airplanes and turn to airbus instead and so this would also hurt you know u.s. manufacturing in a way. or oil and gas and other big u.s. . and china was importing huge number from the u.s. last year but you know china basically is buying a huge chunk of aramco from saudi arabia they clearly are trying to secure other oil and gas from other countries like russia and so they're basically diversifying all their imports and this way if they decide that they don't want to import from the us it would not be too painful for them and so china is not going to just sit back and you know pretend that you know everything's ok and l

also from nato and in particular from the u.s. a u.s. from the u.s. state secretary there who has said that we stand in solidarity with our allies in the u.k. and that those responsible should face appropriately serious consequences so very strong words from him and i think that after this attack on the former k.g.b. agent in london in two thousand and six litvinenko the u.k. was accused of not being strong and often against russia i think that reason may who used to be the home secretary in the u.k. wants to prove that she is protecting the u.k. and that she will do everything in her power to make sure that those who are culpable are brought to account ok so the pressure is mounting on moscow left brings us to us really this morning russia's foreign minister sergei lavrov once again denied any connection and he actually accused the u.k. of being uncooperative let's listen to exactly what he had to say. those of us yes it's. we immediately made an official request to gain access to the substance so that our experts could carry out an analysis in line w