ustr lighthizer and steven mnuchin will be flying to 25.ing next week, march official telling bloomberg they are concerned china is pushing back, possibly walking back some of its trade pledges. let's get to sarah mcgregor, who leads our economic policy coverage in washington. an exclusive here at bloomberg, this new headline that there seems to be a reaction from officials, lighthizer and mnuchin flying to beijing next week. is this a direct result of what officials are telling us? sarah: we did report earlier -- u.s.at china, officials are concerned china is walking back some of its pledges. we have heard from u.s. officials predominately this year that progress is being made in talks, we have seen trump twice delay an increase in tariffs on chinese goods, mostly a good story for these talks. what we show today with this reporting is china is getting pushback and there is still a lot of room to go here for a deal to be reached. of course now we have reports that lighthizer and mnuchin may be heading to beijing next week for another round of face-to-face talks. that is really a face to

they have launched a complaint in the us trade representative body, ustr, saying this will risk thousandsnd india does need more access to the us market. the politics of it is that the us wants to access the indian market as well, especially larger players like walmart and amazon, who had seen pressure building up from the indian government that is leading to protectionism ahead of elections. so we will have to see how it plays out. thank you so much for that update from delhi, the bbc‘s business correspondence two. the geneva motor show is one of the biggest annual showcases for the global car industry and the year's event starts today, manufacturers vying with one another to grab attention with their sleek supercars, quirky, super minis and curious vehicles. among those expected to hold the headlines is an italian manufacturer funded by expected to hold the headlines is an italian manufacturerfunded by the indian giant mahindra which has brand—new supercar, which can challenge the f1 car, and it runs on batteries. two has been looking at the car. the geneva motor show is often about sup

ustr is not supporting entry of brazil in the oecd. is the u.s. government boeing to support brazil's entry on oecd, what have you asked for tradeoff? >> we will be supporting. we'll have a great relationship in some different ways. that is just something we're going to be doing in honor of the president and in honor of brazil. we will be asking for things but not necessarily having to do with that. i think we'll have a very fair relationship. okay? reporter: thank you. president -- >> thank you. reporter: [speaking in native tongue] >> translator: does the united states expect the influence of china into brazil? yesterday paul mentioned it would incentives relations with china. how do you see that and what president trump said about the chinese in brazil? >> translator: brazil will make as much business with as many country as possible? no longer business will be found into the ideology as it used to be. we are also following this objective for the good of our peoples. >> thank you very much, mr. president. i appreciate it. thank you very much. t

and trade talks as ustr, lighthizer and secretary mnuchin travel to beijing.ck more, let's begin with you, the worries in europe and what president draghi and do about it. we have a market and group of investors willing to look through signs of weakness in china because there is a belief the chinese can address it. the back end of this week has ended with dreadful european data. the market is sensitive to it. why? luke: we have been looking for a turnaround in the european data that will be later than what we are seeing now. i had hoped we would turn the corner in terms of economic data surprising to the upside. how much of this is short-term stuff in germany, one off, that should roll off? anything from china is good news. it is a good sign for europe, just turning the corner. it will not be exciting, but any growth in germany, the market will take well. jonathan: i could have said what you said 12 months ago and put it on repeat and repeated it again. we were talking about the second half of last year being transitory, and it got worse. why should i believe

heard from you that you think there will be a resolution soon but are you concerned with how much time ustris focused on china with ongoing negotiations there, that you need to deal with on this issue on the issue of tariffs. with another important concern for the united states, canada doesn't get the attention it needs to get the issue resolved. >> ambassador lighthizer hears from me frequently regardless of what he is doing. >> and lighten the room as to negotiations or talks, are they active? is that something that happens in prison? a sitdown meeting or what kind of communication is it? >> as minister freeland said frequently during the summer, the best thing to say is we don't negotiate in public. >> many people in this room and many people watching will be very keen to hear and watch and see if your prediction is accurate because a lot of jobs and industries are being hurt by this but from either of you, any hard data out right now to illustrate that canadian jobs have been lost as a result of these tariffs? >> we are following the situation and what we are hearing from industry is we

and trade talks as ustr, lighthizer and secretary mnuchin travel.t, luke and jose are still with us. the worries in europe and what president draghi and do about it, we have a market and group of investors willing to look through signs of weakness in china because there is a belief that the chinese can address it. and some dreadful european data. whenever we get that, the market is sensitive to it. why? luke: it is about a belief here. we have been looking for a turnaround in the european data that will be later than what we are seeing now. i had hoped we would turn the corner in terms of economic data surprising to the downside. but even that, today's data was awful. so much of it is short-term stuff in germany, one off, that should roll off? if we get anything at all from china that is good news, i think there is a good sign for europe. but again, it is not going to be exciting growth, but any growth in germany, the market will take well. jonathan: i could have said what you said 12 months ago and put it on repeat. we were talking about the second

elsewhere, potential trade talks as ustr, lighthizer and secretary mnuchin travel to beijing.uests are still with us. luke, let's start with you. the worries in europe and what president draghi can do about it. what's curious to me, we've got a market and group of investors willing to look through signs of weakness in china because there's a belief the chinese can address it. the back end to this week ended with dreadful european data. whenever we get dreadful european data, the market is increasingly sensitive to it. why, luke? luke: it's about a believe here. we've been looking for a turnaround in the european data that will be later than what we're seeing now. i had hoped we'd turn the corner in terms of economic data surprising to the downside. but even that, today's data was awful. so much of this is short-term stuff in germany, one off, that should roll off. if we get anything from china that's good news, i think it's a good sign for europe turning the corner. but again, it's not going to be exciting growth, but any growth in germany, the market will take really well. jo

and you're going to see from ustr today that they'll announce the next tranche of tariffs are going totice. there's actually no deadline for this extension. that's a good thing. that means that the president's commit touchdown tpresident'sed- president's committed to getting the best deal he can, and hopefully that means he's exited to eliminating the tariffs imposed over the last year too. tracee: i want to get your take on this. are we going to get a market rally with these trade talks going on in florida? is this already kind of baked in? or will we see a major selloff if nothing happens? >> i don't think we'll get a major selloff. the market wasn't weak because of the trade situation last year. it will help a little bit. you see the help mostly in chinese stocks. this is within of the things working to our advantage in this trade deal. their market was weak. their economy has been pulling weak numbers for a while. ours is not. we had a good gdp figure. that puts us in an add develop d position. the north korea thing, that could be plus or minus. sometimes the president likes to bla

i mean, what robert lighthizer has proposed so far is a system that gives ustr discretionary authority or reapply tariffs on china at its own discretion. so the chinese might not be so willing to allow this to happen, it's definitely a question of potentially chinese sovereign rights and one thing they talked about is they don't want china reciprocating if they do this either which can be diplomatically tough. ashley: yeah. the china, to get a deal, has to be seen to get something out of this as well, to be able to walk away without losing face and we know the u.s. president is quite happy to walk away if he's not happy. that i think is a difficult line to walk. in other words, to get a deal that has any substantial merit to it, by also a allowing the chinese to walk away and at least take some of the credit. >> one thing i've been saying is, if the president wanted a purchase agreement, he could have had that six months ago, right. they are trying to get a real deal. but certainly saving face is a big sticking point, even just for getting the meeting of the presidents. president xi do

i think the ustr bob lighthizer who is very competent and capable, i think he's going to have some answeringo do if this deal does not come forward in a way that really benefits the american consumer and the american businessmen. >> how important is it the president gets this all wrapped up before 2020 really starts to ramp up? from a political perspective. >> it's extremely important. this entire episode is quite an interesting test of the president's base in the sense that you have -- certainly not everyone in rural america voted for donald trump. let's not make that an assumption. that is where his base is. i think there's a lot of pain being felt. you can look at local news stories across the country, especially in the midwest. when you read the stories about what this is costing rural america, you have to wonder how that impacts a local farmers view. >> thank you. we'll be back with today's big picture. ou we'll be back with today's big picture. then i realized something was missing... me. my symptoms were keeping me from being there. so, i talked to my doctor and learned humira is for

but there's going to be a period of time between the time the agreement is submitted by ustr and the president to congress, and when it is actually taken up, where adjustments can be made. i see that the democrats are concerned about the patent protection of biologics. and i know they're going to want to see some action by the mexican government in terms of making the new labor provisions enforceable. so we'll see. a lot will happen with the leadership of nancy pelosi, who really, really knows how to get things done, or knows how to slow things down until they're done right. >> that's for sure. ambassador giffin, you were there shortly after, also in the 90s, i'm wondering if you can tell aus little bit where the relationship stood at that point, this tension between, you know, a desire for trade, a desire to connect these economies, and this pushback from the left and from others on jobs and on other issues? >> thank you. it's a delight to be here. it is somehow my lot to always follow jim blanchard. but blanchard, i have to say, for those of us who have had the honor to serve as un

gotten with nasa because technology was not available and that's one of the things i am proud about the ustr team is to remodernize nasa. the trade agreement has a lot of questions and i know that we will have ratified by all three countries and it's a work in progress. what are you doing to help ratification of usmca? >> on a state level your hands are tied to a certain degree. i would love to sit down and hammer out a deal, i'm confident i can hammer out a deal in a day. i'm telling you, i am. we can sit down and get it done, but working with the federal government. i will work with anyone. i don't care if there are a nonliberal, conservative, whatever they are, if they can bring business to ontario i will stand shoulder to shoulder with the federal government. and i think we show that to them but let's cut through the nonsense. >> i think your meeting with my governor and that's the way to promote this relationship and the ratification. i think that is essential to our legislators and i think that's something that i must say your prime minister has been brilliant at reaching out across th

this falls on the purview of the department of commerce and ustr. we are advocates. >> thank you very much. >> thank you gentlemen. >> madam chair thank you. mr. secretary i urappreciate yo testimony. and all that you are doing and working together to sustain agriculture. very important. you are doing a terrific job. we appreciate it. one of the most important things we can do is keep farmers and business. especially when times are tough. when general relational farmers sell out they usually sell out to bigger operators. bigger operators are not bad folks. it means fewer people working the land and living in our small communities and going to our schools. it puts pressure on rural america. the things we are trying to do, we appreciate your efforts in implementing this five-year farmville. to make sure we can keep the farmers in business. can we get your assurance you will be working closely with your epa colleagues to maybe deal with that waiver issue. which has been misused a little bit >> we certainly advocated strongly about that. while no commit

ustr serves as the lawyer there to write the contract and bless the deal. that's their statutory responsibility. but we're out selling everywhere. and i think we can recover those markets. that's why we talked about the market access program. that $200 million of the market facilitation program that goes to market access and building markets in places where we haven't had markets and shoring up current customers. >> great, great. thank you. and quickly, just, i have a letter here dated january 25th that was sent to the usta regarding issuance of february 2019 benefits. i was wondering if i could give you to this staff, if that's okay. >> we could, i think we have it. was that not a timeline of a reply on that? i think that's what my staff told me. i thought there was 90 days or something, if that's the same letter i'm thinking of. >> okay. i didn't see a timeline on this, but i'll talk -- >> surely. please give it to me. >> and also, if you could -- and i will, thank you very much. and talk to me, if you could, how's christy boswell and the progress, the wo

. >> if you have old paint, you've been working with sabrina around the hoe,ustr setch the panty hoseuse on the wall. >> that's a useful hack. exactly why do you wear the panty hose? >> it gets me in the mood. i'm seeing people about it but, right now, it's the only way i can really focus on the panty hose and the paint itself. >> all right. >> i thought that was going to become a finished product at some point. >> well, it is. >> the finished product is actually in there. it's been filtered. that's your filtered stuff right there. see, isn't that wonderful? >> it almost seems like it'd be easier to buy more paint. i have to be honest with you. >> i'm working with fabric, not with panty hose. i'm working with fabric. >> all right. >> we often have bookcases or end tables you want to freshen up. >> yeah. >> instead of painting the backs of them, which you can do, i've done a lot of, what i did was i'm taking fabric, and i'm taking actual cardboard or foam board that you can get inexpensively at a dollar store. cover it with the fabric. double stick tape on here. you can also use duct t

even though there are different teams at ustr negotiating usmca versus china, a lot of the white house staff is overlapped there on the trade team. so certainly it is taking time away -- china is taking time away from usmca and vice versa if you get one of those situations settled, it does allow you to pivot and talk about the other. >> kayla, thank you. >> reporter: sure. >>> switching gears, starting this fall the golden state warriors will have a new home. moving across the bay from oakland to the brand new chase center in san francisco. chase center and the surrounding district covers about 11 acres, has 500,000 square feet of office space joining us now to talk about the development and its economic impact on the golden state warriors is the warriors president, rick welts. welcome. >> thank you thanks for having me. >> so first fully privately funded stadium how did that come together what's the significance of it? >> we made the decision that we wanted to build an arena in san francisco. part of the deal when you want to do that is there would be no public money so it's a heavy l

i can say as ustr they've got a massive team of people, mostly trade lawyers.re working really, really hard to deliver a deal that's north of 100 pages, filled with nuances and details and i think everybody's hopeful as markets are that this is going to get to the finish line sometime soon. but for me, i kind of feel a little bit like the groom who shouldn't look at the bride the day of the wedding. we're very, very close. it's true that the lawyers are working things out. as an economist, if i say something, i might get an adjective wrong and cause them an extra three hours work. maria: the chinese economy has been weakening, i think partly because of this uncertainty over tariffs. if we were to get a deal between the u.s. and china, would that impact u.s. growth as well? would that impact the chinese economy and thus the u.s. economy? is that something you would look to your models? >> yeah, absolutely. i think that a deal, a favorable deal would be very good for the chinese economy. i think right now there's been almost a freeze on capital spending over ther

the most recent spending bill instructed ustr to establish a process within 30 days, we're almost halfway to the deadline. do you expect to meet that 30-day deadline? [ no audio ] >> i can't hear you. >> can you go get the microphone. >> thank you. >> i would say first of all that that was a report from the appropriations committee. i understand there are people in congress who want us to have an exclusion process. it's something that we're looking at. our view until now has been that we'd have the exclusion process for the $50 billion which was at 25%, the 10% you're referring to in this case, there would not be an exclusion process. i would note since the date that we put that into place there's been a seven or eight depending on when you stop devaluation of the chinese currency so that the effect has been less significant than fully 10% on those people are affected and our hope is we can deal with this in the context of our negotiations with the chinese. i'm sorry. >> i'm sorry to interrupt. i also appreciate, i know you and i chatsds, the constraints on resources and i understand that