xi wants them removed.hanging chinese law to reflect market access and intellectual property protection for u.s. firms. xi says it's a violation of their sovereignty to force them to put that into law. and lastly is the goods and services. trump would like to see farmers reaping the benefits of whatever agreements he does reach. china, on the other hand, sees some of the u.s. demand as unrealistic. some of the numbers on the u.s. side would be unable to deliver. we don't have the supply. these are three very difficult issues. waye is a way to find a forward if the leaders want it done. purchases could be spread out over a longer period of time and made bigger to satisfy trump, slower for xi. xi could unilaterally agree to change the law. tariffs could stay in a much reduced form. so there are ways the two leaders could find an agreement, some common ground if they have the political will. and really only they know how they view the political landscape today. rishaad: mary, thank you so much for your time. m

that is a quote from president xi jinping.ting, he passive aggressive towards the united states and donald trump without mentioning either. he said we are calling for fair and equitable market environment and for upholding the completeness and vitality of global supply chains. that is about as direct as anybody could be without mentioning huawei or donald trump directly on the huawei case. nejra: what have we heard from chinese president xi jinping on bullying? >> yeah. that is another big issue. so much of the market chatter yesterday have been about how we were working towards a truce. we got a comment from the foreign ministry spokesperson yesterday at a beijing saying that any kind of progress or any kind of deal with the united states has to be balanced and with mutual respect. that is one of the biggest complaints that beijing has had towards donald trumps white house. that is that they are not necessarily treating china with that mutual respect. they have been employing bully ing tactics. those are comments we have hear

trump and xi, we are back in osaka.t is next, this is bloomberg. ♪ rishaad: we are back, this is bloomberg markets. i am shot salamat -- rishaad in hong kong. yvonne: i am yvonne man. eric -- our co-anchor yvonne man is at the summit. the yen is strengthening, what has happened so far? what else are we expecting? yvonne: you heard from shinzo abe, the host of the g20. are talking about trade. putin, that happens in about an hour's time. they have been trying to set up a meeting with president trump after six months ago, president trump surprisingly snubbed them and canceled this meeting. that is with the naval clashes in the backseat where two dozen ukrainian sailors were held to a rush in jail. that was a condition at the time. expectations are pretty low for this meeting. they are saying that it might be pretty brief. experts say that just the fact that they are meeting alone is russia,nd positive for they have all but lost hope. even after the fact that this him.t claims exonerate that is going to be cute to watch. e

will xi jinping affected by this ongoing trade war. affected by this ongoing trade war. will xi jinping back down? affected by this ongoing trade war. will xijinping back down? well, actually i don't think so. i think that yes, we do see that the chinese economy is slowing. we have seen cooling pmis, industrial output slowing as well, but this is potentially something that could mean that trump overplayed his hand as he looks and focuses on the incoming chinese data, but may be underestimates the fact that this won't mean that saxo capital markets will kowtow to his demands, and underestimates the nationalist stands in china and the ability to wait it out in the long march, as we have heard frequently from chinese state media. eleanor creagh there on the ongoing us— china trade conflict in sydney, with warnings us— china trade war could hit the economy hard in coming years. the chairman of a london based and china focused lender standard chartered told the bbc‘s mariko 0i lender standard chartered told the bbc‘s mariko oi the world can

dan: it's not just the trump xi show.cking fights on trade with most of the country's present here. tweeted,articular india must withdraw tariff increases immediately. he called them an acceptable. that is likely to take place during the meeting today. toi himself did not want raise tariffs. he waited a year before doing this. he was trying to get trump to the table. u.s. recently withdrew preferential treatment for billions of dollars worth of indian goods. modi was backed into a corner in this regard. we will see if they can come to some sort of agreement on this front. that, since the into office, come he has been trying to refocus the relationship towards asia, focusing very much on india. he launch this indo pacific strategy, went ahead and changed the name of the u.s. pacific command to indo pacific command. in a way to resist china's influence in the region. how important is this relationship for both sides? >> -- dan: that's right. term strategically, the u.s. wants india to balance china in the region. they have

for his part resident xi jinping said that for a0 yea rs resident xi jinping said that for a0 years china had both benefited from cooperation and that both countries would lose from co—op —— from opposition. —— confrontation. he said they were both here to set the course for the future relationship, we don't know what exactly will come out of that meeting, they will hold separate press c0 nfe re nces meeting, they will hold separate press conferences afterwards, but you would certainly hoping that they can be some sort of breakthrough, or as they say, a calling of a truce in the trade war. at the same time we had from president trump today that he is calling on north korean leader kimjong he is calling on north korean leader kim jong and to he is calling on north korean leader kimjong and to —— kimjong—un to hold a meeting with him at the demilitarised zone in south korea where he is heading later today, or that place —— meeting could take place tomorrow. this came in a tweet this morning and it came as something of a surprise to everyone here. we will be there and ijust put out a feeler,

if you think putin giving xi a boat ride is impressive, wait until you see what xi gave putin. >> during their surntle putin and xi showed off their friendship way visit to the moscow zoo where they welcomed two new chinese pandas, a gift from xi to russia. >> china likes-- a sign of the good alliance, good feeling is present you with a panda. russia got two. >> trevor: that's right. china gave not one but two pandas to russia. which is huge. yeah. because one panda can't make babies. two babies also can't, but there's hope. ( laughter ) and, remember, china only gives pandas to country when they wish to be close allies. they call it panda diplomacy. this is a real thing, panda diplomacy. not to be confused with panda express diplomacy, where i convinced them to let me use the battle room, even though i didn't buy anything. technically, china didn't give russia the pandas. the russians get to keep the pandas for a few years. which applies takeover panda in the world. china owns every single panda so at some point they have to go home and i guess it's because china doesn't want pandas to

we are seeing xi jinping writing an between these two men. xijinping writing an op—ed in the main state newspaper in north korea, talking about irreplaceable friendship and historic alliance, sailing in the same boat through wind and rain so this will sound like they are the best of friends but the important background to understand as we watch this visit is how recently these men were not even speaking to each other so for the first five years that xi jinping was in power, he didn't meet kimjong in at all and until recently he was backing the un security council sanctions so this is quite a belated discovery of this now irreplaceable friendship between these two men but they will put that to one side to send this signal to donald trump that they are standing side—by—side, and ourjoint that they are standing side—by—side, and our joint force to that they are standing side—by—side, and ourjoint force to be reckoned with. what do you think both sides get out of this meeting? we know china is north korea's closest security and economic ally but

you could think of what is going on between xi and putin at the moment asa between xi and putin at thee, but it is a bromance with geopolitical implications, because russia and china are two signal taking political cultures that really look to the top to see what is going on. and so yes, this is the us pushing xi and putin into each other‘s arms, against a background of two cultures that are still quite deeply suspicious of one another. so with xi and putin best friends, could this impactjump, do you think? i think anyone who tries to pretend to know what is in the mind of donald trump, you know, is onto a losing game there. but i think that, over the long run, this isn't really about trade, and it's more about the geopolitical, the military alliances, and just the signals. i mean, these are two leaders who have an authoritarian style. xi has declared himself, we could say, president for life. he has removed the term limits. putin has removed the term limits. putin has already done that, so he is very much following in prison‘s footsteps. i think it is the feeling of not being isolated

at the g20 summit even with xi jinping and unrest. secretary of state for political military affairs under bush 43, ambassador, very good to have you. >> hi, neil, thanks. neil: where is this going, easy sort of thing, large crowds amassing in the center of a city, you think square, 30th anniversary recently and now this, are the two similar or how would you describe? >> look, that situation shows us that the deal that was made when left hong kong it has been violated, the goal post has been moved. china is creating authoritarianism and we should never lose sight of the fact that freedom is the single most important thing that we represent, whether east asia or the gulf. neil: the chinese don't care what we think, they don't care how this looks across the globe much as they did 30 years before they became the super economic power they are today but that this might end quite violently? >> i don't know how it ends, neil, but my view of authoritarian regimes is the one thing that they care about is vulnerability, they are not legitimate,

. >>> top adviser to president xi jinping on the best and worst case scenarios for the big trump/xi face-to-facethe g20 later on this week "worldwide exchange" back on a monday right after this. rts. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks. how dare you, he's my emotional support snake. but you're not mad, because you have e*trade, whose tech helps you understand the risk and reward potential on an options trade it's a paste. it's not liquid or a gel. and even explore what-if scenarios. where's gate 87? don't get mad. get e*trade and start trading today. ♪ >>> welcome back and good morning. it's 5:12 here on the east coast. will today be the day that we see new record highs on the dow jones industrial average you're just 0.86% away futures they are higher. not to that level. up only about 18 points. so very tiny percent, but we're still in the green the s&p 500 already at a record. so any new gains there will just add to that. could be a dramatic day in the stock market

in the first five years that xi jin ping was in power, he didn't need kim jong un wants. administration voted for maximum pressure in the u.s.gn camp it was only in the last 18 months that we have seen chinese president reassert himself and reclaim ground, because it was endangered last year, and donald inump was getting very close, so we were told, and was going to be left on the sidelines.e despite how thaders may personally feel about each other, there are national interests at stake here and i think xi jin ping is making it very clear that all roads to kim jog un and north korea will go through him. jane: is it interesting thateoe went to pyngchang, not the other way around? >> it is really symbolic to have the leader of china touch down in north korea, all the spectacle, the crowds lining the streets. and it is a real long or -- a realk honor toi -- it is a real honor to kim and really helps to normalize and legitimize his regime. it is the first time a, sie al that they eating kim as a normal leader, important to his domestic political propaganda. jane: when preside

this time, president xi is reciprocating.e chance to say to his people through the very tightly controlled state media in north korea, look china, our biggest and most important friend, is here and willing to show the world that effectively it got our back. what china's leaderjust effectively it got our back. what china's leader just happens effectively it got our back. what china's leaderjust happens to get as well is that the trade was shows no sign improving at all, just a few days before meeting with donald trump at the g20 injapan is the chance to remind washington, dc that china and perhaps only china is a country that may have some kind of role to play in trying to restart those talks with north korea over its nuclear weapons programme. so xi jinping and china perhaps again trying to leverage that long and historic relationship with north korea for some kind of game, in terms of what the big issue of the moment is. thank you very much indeed. you are watching newsday on the bbc, live from london and singapore. still to

liz, your reaction. >> i think xi is -- president xi is coming into this meeting being very tough, so program yesterday he declared that he is perfectly happy with tariffs and might raise them more. i think both of them are coming together. i assume both want a trade deal. look, president xi is seeing his economy slip. he's got problems in hong kong. his authority is being tested, as not before, in his ten p you're a--tenure as head of sta. i think this is a negotiating position. it's not going to happen, by the way. maria: i don't think it's going to happen either. dagen: beijing wants the u.s. to lift all punitive tariffs, drop efforts to get china to buy even more u.s. exports than beijing said it would when the two leaders met last december. xi-jinping is not expected to take a confrontational tone with president trump. this is a back to square one. maria: it really is. dagen: the other network totally fouled up the steve mnuchin interview, 90% done on the trade deal. wrong. this is the starting point. maria: 90% was back in april. yeah, they were 90% there, maybe, back in april b

man. >> xi has the upper hand.al with trump. >> analysts expect xi to use the lever next week at the g-20 summit in japan to pressure trump into restarting nuclear talks with north korea. they say there's little doubt this meeting with xi in pyongyang emboldens kim jong-un in his personal relationship with donald trump. >> i think this summit between xi and kim gives strength to kim. it helps him show the world that he has more options than the united states and south korea. that he has the backing of president xi. >> it's a far cry from the first six years of kim's rule. during that time kim's uncle was order -- and his half brother, and he tested nuclear weapons routinely. all of which experts say infuriated xi and his inner circle. >> you can see the anger coming out of the communist party of leadership. people around president xi saying north korea is a troublemaker, a problem, a spoiled brat. >> but tonight kim has turned that dynamic back in his favor creating tension between trump, xi and vladimir putin as t

i have a very good relationship with president xi. we'll see what happens. >> [question inaudible] i think the meeting might go well. frankly our people are starting to deal as of tomorrow, the team is starting to deal. we'll see. china would like to make the deal. we would like to make the deal but it has to be a good deal for everybody. >> [question inaudible] >> they changed their position. so i said we're not going to do that. >> [question inaudible] >> you're going to find out. you'll find out. thank you very much. >> neil: all right.

pyongya: xi's visit to ng seems timely.

president trump set to meet with chinese president xi tonight.est month since october. all three major averages ending the day in the green on the final trading day for the month and the quarter as investors look for a breakthrough on trade. welcome back, i'm melissa francis. connell: good to be back. i'm connell mcshane, this time from miami i think. the dow is up 61. we're off session highs, snapping a three-day losing streak in the process. we'll have much more on some of these big market movers, s&p 500 with a gain of 15, 16 points into the close. a pretty good close for the day. more on the big market

the headlines: north korea prepares for the visit of xi jinping, the first by a chinese leader to pyongyang for m years. the leader of a cult in the united states who treated women as sex slaves is found guilty of all charges against him. i'm kasia madera in london. also in the programme. the philippines declares war on the online sexual abuse of children, many of whom fall victim to members of their own family. america ratchets up the pressure over attacks on oil tankers — showing what it says is evidence of iran's involvement. it may have been designed to damage rather than sink. either way, it has sparked a huge international tension. live from our studios in singapore and london, this is bbc world news. it's newsday. good morning. it's 8 am in singapore. 1am in london, and 9 in the morning in pyongyang, where north korea awaits a visit from the chinese president xi jinping. it's his first visit since he took power — and the first time a chinese leader has visited north korea for m yea rs. it's an important moment for kim jong—un, who's facing growing pressure from the us after his summi

waiting to see what happens between trump and xi.s indicating a mixed start as we wait for progress. president trump says it will work out. he is expected to meet xi at the g20 tomorrow morning. the world is watching and wondering what will come out of that meeting. let's talk about the equity markets. looking at clues coming through riskthe g20 around sentiment, how the markets want to be positioned going into the weekend with this potential risk event, and then come monday, what will the stories be? the japanese yen, fairly flat. ftse 100 flat, the dutch market flat, euro stoxx flat. we are waiting. are inaid earlier, we the phase before you start going and we don't know which direction the athlete will be sprinting. the sectorat perspective. no big clues as to sentiment. financials, looking mixed. sector to interesting watch because we had the stress tests out of the fed and deutsche bank got a surprise pass. that could be a stop. health care in the red. basic materials going higher, utilities look a little stronger but generally,

i spoke with president xi this morning of china. we'll meet at the g20. that is working out pretty much as i anticipated it would. china very much discuss the future, and so do we. the relationship with president xi is a very good one. we had a long talk this morning. reporter: [inaudible] >> say it? >> reporter: immigration officials don't know anything about a planned roundup of people next week. >> they know. they know. they will start next week. when people come into our country and come in illegally they have to go out. everybody is seeing that. as you know mexico has been doing a very good job the last four days. they haven't done that in 25 years. they're doing a very good job. i appreciate the job they're doing. guatemala likewise is much different than it was under past administrations. so we'll see how that works out. with all of that being said the democrats should get together and solve the asylum problem which is very easy to solve. they should solve the loophole problem, also easy to solve. [reporters shouting questions] reporter: [inaudible

president xi tomorrow.problem now between china and the united states and from our perspective, we understand why the u.s. has issues with china of intellectual property and opening the financial sector. toould call on both parties -- it falls into a full trade war. >> how does the meeting on saturday set the tone for your? -- europe? interested,ightly we are thebelieve biggest market in the world. it is crucial after this trade problem is contained. that is as they are able in a friendly way to solve this crisis now or step-by-step. >> will we get a truce? >> i hope. i do understand the issues the u.s. is raising with china. they are fair. they have to be raised. china is trying to make changes to the system, so the issue will be the speed which this is done and the level of comfort the chinese can give the americans while this is happening. francine: that was the dutch prime minister speaking with bloomberg at the g20 in japan. we are seeing more live pictures, justin trudeau with his wife arriving to mee

xi jinping has become president for life in china.ow big is the pressure on him now we continue to have these tensions with the u.s. and see economy numbers underperformed? we got factory data not looking great. is the data it not looking great in q1 by all accounts but abnormality -- i think the chinese economy is going to worsen throughout the year, and action on the fiscal and monetary side that might occur will probably be limited and, little too late to have a balancing affect. if you list tariffs somewhere, i expect the chinese economy will really deteriorate. that said i am not convinced it puts pressure on president xi for the reason we discussed, which is there is consumption -- concession in china that china would rather react. global advisors in washington, thank you. we will have more ahead on the hong kong protests and before that we will speak to guests across the day with a range of views on the extradition bill. let's get to first word news with su keenan. su: we start with the trump administration which is playing dow

could be beneficiaries of this meeting because if president xi jinping is able to demonstrate he has a constructive role in trying to persuade kim to give more concessions to president donald trump then president donald trump in turn might offer president xi jinping some goodwill in there so far unresolved trade disputes so there is an awful lot at stake here now just 2 years ago of course so president xi jinping was being portrayed as a lackey of the united states by the north korean media now of course the north korean media are praising president xi jinping and this new era of friendship between china and north korea and indeed president xi jinping before he boarded his aircraft from beijing on thursday spoke about the irreplaceable bond between china and north korea so i think if there is a message coming out. out of this visit it's yes china and north korea have fallen out their relationship is occasionally rocky but right now that relationship is very solid and that is a message i think they want to deliver to president donald trump indeed be interesting to see what they do say

will the president's meeting with china's xi-jinping produce a deal?already p given us a hint. we'll get into that. parents beware, we'll tell you about the lat latest recall thad put your kids in danger. you're waifing "fbn -- you're watching "fbn: a.m." ♪ take one step at a a time. ♪ there's no need to rush. ♪ it's like learning to fly. ♪ or falling in love. ♪ it's going to happen who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. ashley: president trump meeting with russian president vladimir putin at the g-20 summit today. it's their first meeting since a federal investigation determined russia made extensive efforts to meddle in the 2016 u.s. presidential election. putin denied the charge. the president addressed it today with reporters. >> mr. president, will you -- [ indiscernibl

jim needs something from xi. he needs sanctions relief.e high seas. and he needs china to perhaps slow down the enforcement of items smuggled of course. and what does xi need from kim, he needed north korea to remain stable and not allied with the united states. every time president trump met with xi first maybe there's another trump/kim meeting in the future. >> pompeo said say few weeks ago, they'd be open to a third summit. can you talk about the politics about this, the significance or timing of this? right before the g-20 right after the president said he had a very good and productive phone call with xi jinping. what's the deal here with global politics and what this means for president trump? >> this timing is definitely not a coincidence. that xi is doing this a matter of days before he expected to meet with trump on the sideline of the g20 because xi wants to remind trump that he's an important player here. he can be an intermediary with the north koreans but he wants something in return which is not for the u.s. to slap $300 bill

how is the xi doing right now?on its own is continuing to joe and slowing down globally and in the united states i think the real risk to the economy is sell infixed. the chaos if trade policy and geopolitical thing has created real fears you see that show up in leading indicators, if business confident. you are seeing it in investment levels and now you are starting to see it in consumer confidence indices. yes, the economy is collective psychology if people start to be worried, it affects behavior. i think a lot of these problems are generated by a misguided sense of how you predict strength in the world. we're going to need to figure out how to get out of this without creating an economic problem that is bigger than it needs to be. >> let's just talk about the idea that business confidence or at least spending, corporate spending out front, capital expenditures has not been what had been anticipated if we see a trade deal that gets completed with china, maybe not this week, over the coming weeks and months, do y

sounding ant and xi lot more optimistic for a deal going from here.ast they are talking and that is positive for the markets. what does the fed do next? we will find out tomorrow. this is bloomberg. ♪ is is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: and from london, i'm guy johnson. this is "bloomberg markets." let's turn our attention to other news pay facebook unveiling plans for a new cryptocurrency that will launch as soon as next year. bloomberg's jury wiesenthal spoke to facebook's head of markets to discuss how the cryptocurrency will be regulated. >> we decided not to enable crypto currencies that will you are ameaning, if criminal and you want to transact on the network, this is not going to be your network of choice because accounts are synonymous, or not anonymous -- and not anonymous, and law enforcement will be able to do their thing, like with bitcoin the one thing i would say is the current effectiveness of anti-money laundering is catching about low single-digit percentage of money laundering happening around the

publicly, i think xi will approachim's go slow on diplomatic relations with the xi,, but also, i thinks is a convenient way to change the subject from what has been happening in hong kong. people in the mainland are not seeing it, but maybe some of his rivals within the party are. does that get hong kong office tv screens of the world? and each time kim has met trump, he has first checked in with xi in person. i fear that maybe on a win -- on willnn -- on a whim, trump boot on up to meet kim. we will see what happens. paul: in terms of sanctions busting, we have a chart on the bloomberg that shows chinese exports from north korea have started to rise again. it does illustrate the importance of china to north korea. is norths of things korea importing from china and how significant is that? >> coal, petroleum, and china and russia yesterday at the united nations blocked u.s. attempts to slap north korea with new sanctions for going over petroleum limits, but it's not just what it exports to and from mainland china but what it exports through mainland china. north korea is a multinationa

we're just hours away, presidents trump and xi will sit down. we'll have latest from japan coming right up. federal reserve, could they given a lot of fodder for bernie sanders's socialist message on the day bite stage. it was instead overshadowed by this showdown. >> i was part of the second class to integrate berkeley, california public schools almost two decades after brown v. board of education. >> because your city council made that decision. it was local decision. >> federal government must step in. that is why we have the voting rights act and the civil rights act. charles: i will go in depth in a moment with my own personal version of that. all that and so much more, this is a big "making money". ♪ charles: folks, this is the moment we've been waiting for, president's trump and xi will finally meet face-to-face to try to restart trade negotiations at the g20 summit. edward lawrence is live in osaka with all the lead-up. edward? reporter: charles, that is a huge meeting coming up later on today here in osaka, japan. president met with six

i think that he is probably also going to be told in private by xi that xi is uncertain -- personally uncertain that given this 1.1 billion person nation, that he can absolutely deliver on everything including the i.p. issue. >> laura: victor, one of the hold-ups, the hang-ups, was that china had agreed to a number of provisions that they would change in their law for whatever that is worth. they wouldn't do it. and in the end they wouldn't do it and that's when the talks stopped. your reaction to the atmosphere here, victor and close it out for us. >> i think that was pretty good that we didn't back down and now they know they can't try that again. the sub text of donald trump's brief little speech was we don't run up a $600 billion trade deficit with you. we don't steal patents and violate copyrights and have 300,000 students in your country, many engaged in espionage. whether we like it or not it's asymmetrical. we like you and want to get along but that's the way it is. you can't lose when you speak the truth, laura. >> laura: no one else brought xi to the table. no other presiden

he had just threat into raise did not meet if xi with him at the g20. obviously markets were very pleased to see that they had reconnected. that their teams would be talking before they go in hopes of striking some kind of deal. but, again, based on what happened last month when talks broke down, they still seem to be rather far apart on certain issues like intellectual property theft. we really don't know what kind of agreement to expect, or if any out of the meeting of the g20. the: let's talk about chinese side of things. what are we hearing from the state media in china about these talks? selina: the chinese state media has frame this a little bit differently. the framing is that trump had asked for the phone call in the beginning, and that trump is me looking forward to meeting with has expressed he is looking forward to meeting with trump. the chinese side believes that the power of ballots may have shifted. statements from the chinese state media that he is looking for a consensus that they had reached before to advance cooperation and stability

a we are going to have meeting with president xi of china tomorrow as you probably have heard.here sms to be rumor about that. we are indeed and we look forward to it. i think it will be productive and who knows? but i think it will be productive. at a minimum, it will be productive and what comes out of it. >> reporter: the meeting's outcome could remove or deepen uncertainty in the global trading system and the that have been the fly in the ointlont of thebal economy, but there are other trade and geopolitical issues that are closely watched. european leaders want to figure out next steps on their trade front with president trump with table.riffs not off the japan was on defense as trump slwamed its pos defense treaty. russia and the u.s. were going to discuss a new arms framework after a previous treaty resolved and new sanctions could be in the works for turkey after purchasing russian military equipment. that fould come up on theal day of the g20 when president trump meets with predent dogan immediately following the shut down with president xi and immediately before a wid

president xi we know is under pressure. there has been a lot of criticism over the last 10 years or so from the hawks in china. the impression has been given that president xi is negotiating with a gun to his head because of these tariffs. the pressure on huawei, the arrest of madam, who is a princess. i thought it was ironic that ivanka trump is at the meeting but a princess of china is under house arrest in vancouver for fraud as part of the huawei misconduct. >> shannon: that's a whole distinct international situation that has to be addressed as well. >> message to the chinese, you want her to be released we better have a trade deal. >> shannon: we're standing by. before the end of this hour they could break from the talk and maybe get some indication. michael, thank you very much for always giving us perspective. a fox news alert. the air force deploying a squadron of advanced f-22 raptor fighter jets to qatar for the first time a week after iran shot down a u.s. drone over the strait of hormuz. the squadron is part of

and what about all the good times trump and xi have shared? especially this one: >> we had the most beautiful piece of chocolate cake that you've ever seen, and president xi was enjoying it. >> how could you? how could you xi, i thought we shared something special, chocolate cake. it's not something meaningless, like wedding cake. >> jon: oh, my goodness! >> stephen: really? >> jon: oh, my goodness! >> stephen: really? we found the. of course trump has bigger foes to worry about than china. migrant children refugees because the trump administration is cancelling english classes, recreational programs and legal aid for child migrant in u.s. shelters ( booing ). >> you took that right out of my mouth. that is purely leaning into the evil. i think trump is campaigning for the nobel prize in shame. somehow, somehow, trump found a way to make this horrible situation even worse. it's like finding out that thanos was a loud chewer. apparently, apparently, the administration is cutting off funding for all kinds of activities, including so. really, rea

xi's moves are also biggest potential legacies a lot of discussion that xi would be a go-between betweenstart and give new life to these docs as north korea and the u.s. >> this would be crucial to learn friday and saturday, this president xi actually help his friend president trump or betray him? we might get some hints by friday or saturday. which way president xi is going to play this. our hope is, he'll be positive. in theory, the u.s. and china both agree, north korea should not have nuclear weapons, and they should move towards markets opening, liberalization. if it goes the other way, friday or saturday, then the chances are that the president trump and xi will not meet in osaka and they want to have the kind of dinner they did in bonus areas, the big state dinner for three hours back on december 1st. it led to these talks making some progress. >> shannon: what do you think of the relationship there? there are some who think the trade issue is one thing, escalating beyond the friendship of president xi antrim. it may be just beyond those two men at this point. >> it has not gone t

merv thanks very much did you see later still ahead here on al-jazeera xi jinping in pyongyang the chinese leader says the world hopes will korea the united states can hold success into. the wrong place wrong time more details emerge about the shooting of a baseball legend david ortiz's. head of the we've seen a lot of heavy downpours over parts of turkey recently we take a look at the satellite picture we can see the area of cloud around us that's what's given us our recent very heavy downpours and they have given us a problem with flooding as well more showers are likely as we head through the day on friday again very heavy and not really moving anywhere as we head through saturday elsewhere it is largely dry now and also lushly quite hot baghdad 42 degrees to ron's at 37 and force in kabul we're at 32 now here in doha it's been horribly windy over the past few days really has been blowing very very strongly that when the winds will begin to friday still a blustery day just not quite as bad and then on saturday those winds should drop out so saturday will be a much more pleasant day stil

you argue that xi jingping or china itself is just as much a phenomenon,to this or xi jingping is just a contributor to this phenomenon. china potvidence is falling share relative to import growth. >> if you look at china's imports and many factors over time, and adjust for those clearly tied to china's exports, they tended to fall as a share of china's gdp. if you look at u.s. manufacturing exports, in 2005 the u.s. was exporting about 2% of china's gdp and manufacturers to china. in general china's demand for manufacturing imports has grown more slowly than china's economy. that to somean tie chinese policies. suggestchina doesn't globalization. it suggests the opposite. china has wanted production for the chinese market to be in china. >> how ready are they to do that? it seems when you look at the relationship in the u.s., they are going to have to hasten that quickly, or they're going have to be left behind. >> it completely varies by product. to ask the following question, did china's postcrisis construction bill lead to a sustained increase in u.s. construction equipment exports

she was also at that table with president trump and xi jinping. shortly. we have all the indications now these officials are sitting down, that the president will be coming out and talking to us in a few moments. in terms of exactly what went on in that room with xi jinping after all the reporters were escorted out as you saw earlier in your coverage. >> as we seem to be minutes away from the start of this, i want to ask you when was the last time that president trump held a formal news conference like we're about to see? >> you know, natalie, he has these brief exchanges with us from the white house from time to time. he briefs in the oval office, takes questions and so on. we have the makings for a press conference we haven't seen since the end of the hanoi summit. i'm just putting a rough guesstimate here, but it felt like dunz of questions because it went on that long. took a number of questions from u.s. reporters, from foreign reporters. i remember because i was in the room that day, he was sort of randomly selecting foreign reporters who i

that's after trump and xi confirmed a meeting at the g20 summit.lds hit fresh record lows in europe. we will look at european bond markets as the cash markets open up in just a few minutes. you can track us all on charts .n tv this is bloomberg. ♪ morning. these are the top stories. markets rally as presidents say they are going to sit down at the g20 summit. trump versus powell. the white house explores the legality of demoting the fed chairman. and votes of confidence. boeing wins a 200 plane order. good morning. hour from the start of cash trading. we saw the s&p 500 jumped more than 1%, within touching distance of a record. global equities continuing to gain. a little bit of a pause when it comes to u.s. futures. spoil the party? european futures, looks like we could take a pause as well. dax futures turning negative. to the bondt markets. talking about rate cuts, qed. perhaps even being able to change parameters. a dovish signal and the markets took it. intoia yields going negative territory as well. could we see a bounceback? we saw trea

so the president xi's got the dictator power.he world of the most powerful country in the world with the biggest economy in the world. so i think if the chinese want to continue to be the second largest economy in the world, they're going to have to do a deal and i believe that the cards are in our table, in our hand, i should say. so i'm looking forward. i think the president is going to -- i think we'll see good news coming out. i'm positive. >> congressman, this is mike huckabee. i would love to get your reaction to all of the democrats wanting to make sure there is healthcare for illegal immigrants. you're a border state. you co-chair the border security committee in the house. how did you react to that? >> i met with some of the authorities, border security authorities yesterday, with homeland security and i.c.e. and several others and i was stunned to find out that we've already spent $269 million of the taxpayers' money on healthcare for detainees alone. it's stunning to see that we're spending that kind of money down ther

this comes ahead of xi jinping's worldwide. —— piece.d of xijinping's meeting with donald trump as the leaders try to resolve their ongoing trade war as well as major disputes like highway and the south china sea. ahead of this crucial meeting, japan, america and india held a trilateral earlier. the render a moody highlighted connectivity and development —— narendra modi. trump's one—on—one meeting with mr modi hopes to smooth out out sooner rather than later. in washington, trump‘s administration tries to lower the us trade deficit. soa tries to lower the us trade deficit. so a lot of wheeling and dealing in this two day summit in osaka, japan. you very much, rico. —— thank you very much. greg perdon is co—chief investment officer at arbuthnot latham, a private bank in the city of london. what do you make of all of this? there seems to be a huge amount at sta ke there seems to be a huge amount at stake here and now people are talking about a global recession with deals undone. does tally with your forecast? we are looking at as the trum

president xi will look to whethert trump and see there's any flexibility on the u.s.with tariffs, while way. he will also look to see -- hu awei. he will also look to see that he sends the message that this is a level playing field. it could go either way. david: you have gone from the position to being pretty darn close to inside the room, to one of his advising clients on what to expect. how should they prepare for the over and under of what could come out of the meeting? >> what i've been telling clients is essentially what i told you, which is this is uncertain. i believe the long-term interest for both sides here is to get a deal. dealately, there will be a that deals with some of the structural issues. whether or not it happens in the next two months will depend on how this meeting goes. think, hopefully by the end of the year, we will see a resolution. it's important for president xi to be able to deal with some of the problems this has caused for their economy, to show he can manage the trunk relationship. or president trump, there is a unique opportunity to g

all eyes will be on president trump and president xi.iny clouds above, maybe that news, the presentation from president xi gives investors hope today. the dow is up 5 points in the premarket. cheryl: the wall street journal is saying chinese officials, with knowledge of this plan from china's president, talking to the wall street journal, saying that one of the things they're going to bring up, china will, is that the u.s. has to remove its ban on the sale of u.s. technology to chinese telecom giant, huawei technology. beijing also wants the u.s. to lift all punitive tariffs, drop efforts to get china to buy more u.s. exports than beijing said it would when they last met in september. this could be good news. we're not seeing a reaction in the premarket right now with the dow only up 15. but again, all eyes are going to be on this meeting over the weekend and investors will have to wait until monday to digest the news. lauren: that's true. the month of june has been fantastic, so close to record highs. how much higher can markets go? che

ishink the xi jinping dinner interesting. the first he has put a foot on japanese soil since becoming president. he has not been here since 2009. those countries have had a lot of difficulties. they are trying to repair it against the backdrop of this u.s.-china trade war. nejra: thank you for joining us stephen engle. he will be leading the coverage on the g20 through the weekend. we will have index coverage live from osaka this week. stay with bloomberg for that. joining us for the hour is christian keller, dir. economics research, barclays bank. welcome and great to have you on the show. how high of a risk is it that the trade war ends the global business? christian: we think there is a limited risk. it is difficult for investors to decide. our decision is we believe extend towards chinese goods, there is a long-term conflict that is more likely to end up with all goods put on tariffs. we still see economies across the region are very strong consumption service driven economies, where labor markets are relatively healthy.

putin, or xi? stephen: guess who is having dinner with xi jinping tonight?s the host will be a critical one because japan is caught in the crossfire. it needs china, but the united states is really its sole treaty partner and shinzo abe has gone to ingratiate himself to donald trump. he was the first to go to washington, d.c. after the inauguration. they postponed tricky trade talks until after this upper house election abe and the japanese have called for july 21. coming up in less than a month, so there are tricky things that need to be resolved on the auto tariffs front and a possible free trade agreement. then abe and the japanese companies here need to china too. they are really caught in the rock and a hard place. francine: stephen engle in osaka. i know less about the palace but i know the reformation, which was around 1860, it created tokyo as a capital and took away from bostock a -- osaka the trade city. tom: it will be interesting to see. the history of osaka, it was a byway strapped doing southern japan and tokyo years ago and it has come along.

[multiple questions] "newsmakers with xi jinping? -- reporter: with xi jinping? prime minister trudeau: i don't know he's trying to meet. we've got a lot of things to discuss. pres. trump: i will tell you. we have a meeting set up with president xi and it's obviously on the big transaction that we're talking about and negotiating. our people are speaking now. we'll see what happens with that. but, anything i can do to help canada, i will be doing. excuse me? reporter: are you bringing it up with president xi? pres. trump: at justin's request, i will. reporter: when umca is ratified. will that be -- when? don't say when. because so far, i have to get the democrats to approve it. i like your positive thinking, but if and the if is really suect to the democrats. let's see what happens. but i really believe that nancy pelosi and the house will approve it. i think the senate will approve it rapidly. it's going to be very bipartisan. it's great for the farmers and manufacturers. it's really great for everybody, and unions. it's great for unions. we have tremendous unio