,or the u.s. picture in june the auto market seems to be strong. >> the market has been really resilient. it is really holding close to those levels. ehese trump tariffs ar potentially ill-timed, could kill a strong market. that is at least the fear from auto companies like g.m., toyota, bmw, and physically across the globe. , or concerns i should stay, were in stark relief after analyst sales calls. toyota reminded analysts that the rav4 is made entirely outside the u.s., its best-selling vehicle. 50% of its june sales were imported. ramy: what about the whiplash caused by china's retaliatory tariffs on u.s. vehicles? kevin: so the trump administration will be debating these potential tariffs on national security grounds later this month, the 19th and 20th of july. ahead of that this friday, we are due to see tariffs on chinese goods. we will see retaliatory tariffs if those go into effect from china immediately, on autos. it is bad for a u.s. company like tesla, which does not have any manufactu

some u.s. goods are being held but as yetand china, we have not had retaliatory measures pushed up from china. they said they would hit back with their own 25% tariffs on $34 billion of u.s. goods. anna: that's the top line. this morning, they reiterated they would do it. they've given us no timetable. could this be days, weeks? how is china expected to respond?\ tom: it would be surprising if they didn't match what they've been saying in the month leading up to this that they would hit back tit-for-tat, blow for blow, as the way they've described it. it may be a matter of hours away. we've got a foreign ministry briefing at 3:00 p.m. local time. we make it local details than. they said they would target imports of soybeans, pork, and all those from the u.s. ford came out with a statement saying the lincoln model luxury brand it exports from the u.s. into china, about 80,000 units last year, they would not raise prices here. interesting also we know from lincoln they are looking to build produc

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

the u.s. chamber of commerce. >> good morning, ladies and gentlemen. [applause] hearddo that, you haven't what i have to say yet. it's my pleasure to welcome you to the u.s. chamber today for the indo pacific business for him. we've got a great crowd, we have extraordinary speakers, and i think you will go away glad you came. we brought together leaders from business, government, and others to discuss issues of importance to all of us. america's engagement in one of the most significant regions of the world. we're looking forward to hearing directly from top administration officials about their vision of the region and there'll also be opportunities to ask questions and, of course, to network. today's forum symbolizes the increasingly important role that india and the subcontinent plays in our relationship with asia. it also is a sign of the goodwill that has been established between the administration and the business community on these type of activities and our shared desire to seize histor

the u.s. to further escalates the trade war against china its biggest mobile company will probably get no permission to operate in the u.s. . also on the show european auto giants brace themselves for u.s. tariffs china is ready to retaliate and target american carmakers. and used car dealers are struggling to sell dirty diesels across germany a big smile won't do for vehicles that nobody wants anymore. and some for business on the w. and how you know to get us welcome to the show we begin with the giant clash between china and the u.s. over traped asian stocks fell on tuesday as washington and beijing are ready to slap each other with thirty four billion dollars in tariffs on imports this friday on top of it all further restrictions for chinese companies doing business in the u.s. china mobile is the latest to encounter obstacles. seven years that's how long the united states has been mulling over whether to allow china mobile to enter its marcus' finally a decision is near and the answer mos

u.s., india, and japan meet this week with markets expecting hikes from the r.b.i. and the boe. good morning everybody and happy monday. breaking news from the boj. its thirdnducting fixed rate operation this month. that brings it up to seventh the start of yield curve control. we will keep an eye on that and give you the reaction. we have seen the 10 year jgb yield edging higher above 0.1%. also, numbers from heineken. we are deep into earnings season here in europe as well as the u.s.. first half adjusted operating profit coming in at 1.7 5 billion euros for heineken. it's for your views updated. first half organic revenue of 5.6%. the company compiled estimate was up 4.6%. that seems to be a beat. the interim dividend per share coming in at 59 euros. -- revenue growth is expected to continue. those numbers coming through from heineken. we did get that headline from the boj. the 10 year jgb yield actually not moving a lot on that. we can see maybe if we have got any reaction in dollar-ye

the u.s.-- >> live this morning on c-span2 we'll be hearing from secretary of state mike pompeo and commerce secretary wilbur ross among others, hosted by the u.s. chamber of commerce. it's underway right now. >> this is of importance to all of us, america' engagement in one of the most significant regions of the world. we're looking forward to hearing directly from pop administration officials about their vision of the region and there'll also be opportunities to ask questions and, of course, to network. today's forum symbolizes the increasingly important role that india and the subcontinent plays in our relationship with asia. it also is a sign of the goodwill that has been established between the administration and the business community on these type of activities and our shared desire to seize historic opportunities in the indo-pacific. i don't need to tell anyone here why this region is important. we've all read the reports. we've heard the statistics. the indo-pacific is the fastest gro

u.s. intelligence community that the russians will attempt -- attempted to interfere in our electoral system. the comment came today during an appearance at the aspen security board. what we are doing is to work with states to propose that election and -- i don't think there's any doubt that they did it. they think we should all be prepared given a capability that they will do it again. >> secretary added that it would be in her words for which to think the russians are not still targeting the u.s.. willontinued we have the we have to be prepared. >> suspects have been identified in the poisoning attack against russian spies. according to the news agency, officers think several russians were involved. they were identified through security camera video. earlier this month the woman died after coming into contact with the same nerve agent used in the attack. the general overseeing u.s. operations in afghanistan says he is taking a new look at the war strategy. president trump announced nearl

the u.s. car industry stands up to trump's tariffs in washington. workers from america's biggest car makers come out in force to protest the multibillion dollar judy's saying their jobs could be on the line also coming up italy's new government is taking a tough stance on migration but we meet small business owners with migrant backgrounds who are thriving. i'm daniel winter and this is your business update there were protests in washington as the u.s. commerce department launched hearings into import duties as import duties on cars and here's why trump's tariffs don't just affect imported cars but vehicles made in the usa too because his measures put a levy on parts as well as look at two cars honda civic and an audi q five the compact car today costs just over seventeen thousand dollars but see what happens when we slap on trump's judi's the price shoots up by almost one thousand seven hundred dollars the luxury s.u.v. comes off even worse a price increase of almost nine thousand either the

u.s. legislation and i had to learn about this. u.s. legislation, one is discovering that david talked about which offers little possibility for russian authoriti authorities and to find out all kinds of information that can be used. the second is the bankruptcy which a bankrupt of another country is implemented. and the third that generally the u.s. legal code subject that the u.s. -- under taken any course of the country. and these are the - here the u.s. have two useful acts. one should not accept anything from them. in december of last year tw two -- good looking young people, they run the quorum in moscow, they have contributed to them. that's all of course working together with the municipality area and the commissary in russia. you can also see that the head of the investigated commissary listed. we have to get the conversation in our head. the question today, what can we do about it in this country? this is where we need to start, how do we stop this and in the congre congress. it

with the u.s. entry into world war ii, marshall worked to ensure this teaching philosophy was adopted by other army schools and training sites. marshall was determined, that after going through training, u.s. soldiers would be able to overcome challenges they encountered on the battlefield. marshals experiences during world war i that -- taught him that ensuring soldiers are adequately trained is only one part of preparedness. soldiers also needed to be properly outfitted and equipped for the duty. many soldiers only received the rifles prior to boarding the train. marshall recognized the training they received was only marginal helpful, and would likely need to be repeated now that they have the rifles. have the personnel been available for the machine gun and 37 millimeter units, that marshall was organizing, they would have been completely ineffective without the necessary equipment to carry out assignments. the inability of the u.s. army to acquire or produce some of the material it needed, suc

the u.s. government will let the company do business with the u.s. again but only for a month. and a russian reform economists may like but older russians may not get ready to work a little longer. but some for business on d. w. ho you don't get us welcome german media are reporting the u.s. ambassador to germany has offered to german carmakers a solution to the ongoing tariff dispute it would imply both the u.s. and the e.u. completely eliminating import tariffs for vehicles making it happen would require significant changes to existing policies but it's an unusual option earlier today german chancellor angela merkel expressed her concern about possible tariffs for the country's crucial auto industry. get it right now we're witnessing something full time which we've always considered a constant namely the role of multilateral organizations we now have tariffs on a limb in yemen steel and we have a far more serious issue to levees be raised on cars imported to the u.s. . import with and ladies and gentlemen this has the traits of a trade conflict i'm not ready to call it anythi

u.s. president donald trump is back in washington after a summit with his russian counterpart vladimir putin that has prompted outrage across the political spectrum the two leaders met on monday in finland capitol hill sinky during a joint news conference trump defended russia against allegations that it interfered in the thirty sixteen u.s. election we begin our coverage with diplomatic editor jane space. we face to face ahead of a solo meeting a meeting that lasted over two and a half hours but if you were hoping they would solve any of the world's problems you'll be sorely disappointed instead when they spoke to reporters their comments were dominated by their views on the most toxic political issue in the u.s. an issue that just got more controversial as they seemed mainly to agree on it during today's meeting i addressed directly with president putin the issue of russian interference in our elections i felt this was a message best delivered in person spend a great deal of time talking

the u.s. is not a day to because they find they do about wonderful buzz because it's part of their national interest so i think we should be very clear about that having said that there is indeed an issue of having and the question often showing is as old as nato is every american president actually talked about showing and called europeans to do more for their defense rightly so the europeans have forgiven on time. they didn't pay enough attention to to their own defense forces to their own defense system so he is right in claiming more. and more european commitment for defense germany has actually stepped up its commitment since two thousand and fourteen the defense budget is growing so we had some thirty. two billions and two souls in fourteen we are now searching eight something billions and two thousand eight hundred and it's going to grow the problem is about the long term development so far it's not really in the plans so we have a very strong political rhetorical commitment by the chan

the u.s. court orders the trumpet ministration to release the names of young migrant children who are separated from their parents at the mexico border. and rescue teams are trapped footballers are not yet ready to dive to safety spine heavy monsoon rains being forecast. the syrian government is back in control of southern province after it reached a cease fire deal with rebels it ends more than two weeks of fighting that forced three hundred thirty thousand people to flee and even to the border with jordan the deal was brokered by russia which has been supporting the syrian government and its offensive in daraa bernard smith reports from the jordan syria border. for the first time in three years the syrian regime is back in control of its from two with jordan this military convoy flying russian and syrian flags rumbled towards the nasi border crossing minutes after opposition fighters agreed to surrender terms they had little choice in the face of overwhelming russian firepower the fighters w

the u.s. court orders the trumpet ministration to release the names of young migrant children separated from their parents of the border. and i'm sorry the thai fourball coach who led these players into a cave apologizes to parents. the syrian government is back in control of southern province after it reached a cease fire deal with rebels it ends more than two weeks of fighting that forced three hundred thirty thousand people to flee many to the border with jordan where the deal was brokered by russia which has been supporting the syrian government bernard smith reports from the jordanian syrian border for the first time in three years the syrian regime is back in control of its fronted with jule this military convoy flying russian and syrian flags rumble towards the nasi border crossing minutes after opposition fighters agree to surrender terms they had little choice in the face of overwhelming russian firepower the fighters will hand over heavy weapons and thousands of them and their famili

and the u.s. were allies and not enemies adding he was ready to negotiate some hours later the two leaders announced they had agreed on a deal trump agreed to refrain from car tyrus while the negotiations with the e.u. are ongoing the talks will also seeks result u.s. tariffs on steel and aluminum for its part the e.u. agreed to buy more u.s. liquefied natural gas and lower trade barriers for american soybeans. said he was satisfied with the results when i was invited to the president to divide toasts i had intention i had the intention to make a deal today and we made a deal today. at the end of the meeting trump and you also said they would cooperate to reform the rules of the world trade organization the trumpet ministration frequently criticizes the w t o for discriminating against the u.s. so trump that this is a new phase of the u.s. relationship with europe are you surprised by the well it changes that your directory of where we're going that's the important piece and it's bought time what

the u.s. wants countries to boycott really you know oil is part of stronger international sanctions the president hassan rouhani has appeared to threaten the oil exports from other middle eastern countries if the u.s. pushes ahead as. it is incorrect in unwise to imagine that someday or produce a countries will be able to export their surplus oil and iran would not be able to export its oil. really and fish also threaten to disrupt oil shipments in the past to do so they would target the straits of hormuz that's a major shipping lane but it's also a small stretch of water between iran to the north and oman on the ribbon peninsula to the so at its narrowest point there are just fifty five kilometers between the two pieces of land twenty percent of the world's oil passes through here but i don't think iran will ever need to really exercise this threat we have to remember iran is not the only country that is upset with the u.s. pressure on opec all that idea of the oil exports not coming from ira

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

reactors in the u.s. get the majority of that from canada, and australia. u.s. aluminum tariffs also take a bite out of -- the company lowered its 2018 profits forecast. our 2018 outlook to reflect recent market prices. increased energy costs, and tariffs. >> joining me is bloomberg's metal and mining reporter. beforeke to the ceo those were announced. what did you learn? impact. an actual we were going into this and we were talking in the background, us being bloomberg, saying this -- there will be focus on tariffs. he launched straight into it and said we will put it all out there. we are taking a $15 million cost from the stamps because we produced more aluminum and candidates than we do in the u.s.. -- in canada then we do in the u.s.. they thought canada would be excluded. everyone is putting that into their model saying that they were not excluded. that it's them on the front end. that is part of the reason they had to downgrade for 2018. irony of that. a u.s. aluminum manufacturer that gets 28% of its production in canada. >> right. we have big smelters u

you have to put tariffs on u.s. goods are limited because the u.s. only exports goods in the amount of around one hundred thirty billion dollars to china but china does have a whole lot of other options for example they could start not buying so many u.s. treasuries and even more then american companies who produce and shiners it was not considered to be imports there could be a stricter regulations there could be texas or there could be all kinds of possibilities for china to make their life for us corporations not that easy in the future and staying on this story don charles hardline stance is having an effect on the pharmaceutical industry can you tell us more on that well on july first of pfizer one of the biggest pharmaceutical companies in the country increased prices for a dozen and dozens of drugs and now on monday u.s. president donald trump criticize those steps sharply and now on tuesday there was a meeting between the c.e.o. . and donald trump and now on wednesday five are decided at least for now to pull back those price increases not im

u.s. earlier this week, a three-day chart shows a percent to couple of days ago, $5 billion worth of market value wiped away. they have come back a little but the three-day move is still down by 7%. we will talk about that in a second. shares of european companies that have announced repurchases this year, have risen sharply , a baskete stoxx 600 compiled by j.p. morgan chase shows a separate basket of stocks that are likely to keep paying dividends, like smithkline, and china has fallen against the border market. since global markets begin rebounding, buybacks have been far less common in europe than they are in the united states, which has propelled the nine-year bull run in u.s. stocks. with the in europe catching up, question is whether companies he will heed investor appetite for buyback stocks? the white line is buyback stocks and the european sustainable yield with the stoxx 600 is the blue line. ldo, cristiano ronaldo, where is he going? not confirmed but there are expectations whi

u.s. spy satellites have reportedly spotted renewed activity at a missile site. what does this mean for kim jong-un's commitmentnto denunuclearize the k koren peninsula? we will get reaction from washington. also coming up, the city the islamic state turned into a ghost town. the city in a northern iraq was liberated three years ago but only a fraction of the yazidi minority who once liveved there have returned. we will have a an exclusive report. and a smartphone ban at schools in france. his are outraged, parents are happy, but the t teachers worryt will be tough to enforce. as temperatures soar off the scale, what happens if we just have to carry on work in the relentless heat? we ask the advice of berlin's road builders as we sweat our way througha real heatwave. ♪ brent: i'm brent goff. it's good to have you with us. tonight, reports that north korea has not stopped working to build new ballistic missiles that could carry a nuclear weapon. the washington post says that u.s. spy sate

paid to france seventy five thousand u.s. dollars for his that's around thirty thousand dollars more than it would cost in the u.s. but the price tag could rise further when the next set of u.s. tariffs comes into effect. this year ten chilled buyers made changed their minds due to the price hike. this restaurant in beijing will also feel the effect of fresh tariffs it serves pork ribs imported from the us there especially popular among americans living in the chinese capital. manager charles a pallet fears that higher prices could drive customers away of course he could start buying court from chinese farmers but for now that appears to be at the question domestic calls it just doesn't taste. really the simple fact is that the better. as fears of a full trade war grow china's foreign ministry striking a defiant tone. china has a regular made preparations. as long as the united states issues a so-called tyra flipped china will take necessary measures to firmly protect its legitimate interests. we. have already. those who are

the u.s. tariffs on chinese goods kicking in as well. ramy: and today $16.6 billion from canada to the united states, retaliation there. a lot to get to. let's get a look at how stocks ended. you can see before this negativity started to filter through, the dow was higher, quarter of a percent. the s&p marginally higher. the nasdaq also marginal. currencies now, we see reaction here. you can see the bloomberg dollar spot down half a percent as of last friday. the euro down .1%. we are looking ahead to the mexican peso, 19.87 against the dollar, down .2%. this has been falling since june 15 as we get closer to the elections. we are expecting those to come through in terms of the final results later on this evening in mexico. we will have those only we get them. looking at the brazilian riyal, 3.87, weakening, but the brazilian central bank saying they will go ahead with more fx swaps to stabilize the currency. haidi: horrid time of it when it comes to emerging markets, fx, bonds and equities ac

the u.s. and china are discussing how to re-engage and reboot stalled trade negotiations. all right. very good morning to you. to our viewers across the world, looking at where we ended on the markets, it was general relief rally, because at least the earlier breaking lines that the u.s. and china are talking to .ry to defuse trade tensions the s&p 500 was up by 0.5 percent. new news that donald trump is going to throw another additional $200 billion on to china. ofdi: the high tariff rate 25% versus the previous expected 10% paints a picture of how quickly things can change when it comes to this trade war. are gettingime, we inflation numbers out of korea. cpi month on month for july thang in at 0.2%, less 0.4% analysts had been looking for. year on year, that is 1.5 percent, slower than the 1.7%. of a.1 percent, a bit miss. we are getting trade numbers of the next hour. given that we have the dissenting vote in the bank of korea decision, expectations were that there would be more of a debat

true to form u.s. president trump taking center stage at an old press conference trump ailes the nato summit is a big success we're very happy and have a very very powerful very very strong much stronger than it was two days ago. but not everyone's as happy as he thinks trump ruffled more than a few nater feathers with an apparent threat to leave the alliance if other countries fail to increase defense spending later backtracked speaking of the u.s. a strong commitment to nato. are you still threatening to potentially pull the united states out of nato i think it probably can but that's unnecessary and the people have stepped up today like they've never stepped up before trumps determination to get his way on spending also disrupted a meeting about ukraine and georgia non nato members were forced to leave the room as the hour escalated it. it was a little tough for a little while. leaders were even confronted with a new spending target when trump tweeted that commitments must go up to four percent. but

and on wall street and our u.s. tech companies paying their fair share in the u.s. . well u.s. tech companies are notorious for not paying too many texas even before u.s. president donald trump started his tax reform earlier this year a lot of the u.s. tech companies paid far less corporate texas than the overall demanded thirty five percent quite often they would pay less than twenty percent one of the main reasons for that is also when it comes to insure lecture lee a property rights a lot of the tech companies actually list those. right somewhere in cheap takes countries and therefore they can avoid higher takes that were they were also supposed to pay here in the united states so do american tech companies paid taxes here in the u.s. sure they do but quite often they pay far less taxes than we've seen it in a lot of other areas by the way the same especially when it comes to those intellectual property rights it is true for the pharmaceutical industry they're also notorious for paying a lot of texas so yes u.s. technology companies pay their share but less than other indust

all of them produce in the u.s. and they all oppose trump's plans if we put very very high taxes on cars in the united states and keep in mind since it's both auto imports and auto parts imports every single car or truck sold in america would face price increases higher taxes higher taxes will lead to fewer sales fewer sales will lead to less production less productions will risk american jobs. hundreds of thousands of job say the protesters who also claim all to prices would rise by an average five thousand dollars we're very concerned about the security of our jobs. and if i get these vehicles or claim that there are calls on national security issues here that refers to trump's claim that national security is at risk if tariffs on to impose donal tows on components. this is not good business this is not good for our economy this is not good for the very workers who in fact voted for him so far there's been no word on when washington actually intends to put the threatened tariffs into effect. all right let's got mu

the u.s. of bullying and they promised to retaliate. what they stop short of was listing specific details on how they will respond and where they will impose tariffs in retaliation. we are still waiting on the details. david: thank you so much for your reporting today over in hong kong. are joined by peggy collins and marty schenker . we want to start with that trait story. -- trade story. this is what the trade representative said. unfortunately, china has not changed its behavior that puts the future of the u.s. at risk. china has begun to retaliate against u.s. products. there's no justification for such action. he's not backing down from a president trump is not backing down. marty: they are doing it and it's exactly what donald trump said he was going to do. the markets clearly didn't think it would come to this. this could be a really long battle. there's no indication of discussions going on, which is unsettling to the market. peggy: unsettling, yes, but the are-time effects -- we start

u.s. soldiers killed during the korean war. and of them. live from doha also coming up the u.s. reunites more than fourteen hundred immigrant children with their parents but seven hundred remain separated from their mothers and fathers. reforms for pakistan as he claims an election victory official results are expected later on friday. and yemen's ruthie's say a drone strike has hit abu dhabi's port. it didn't happen. north korea has returned the remains of some american soldiers killed during the korean war. had promised to return the bodies during his meeting with donald trump in june and the eight thousand u.s. soldiers are listed as missing from the korean war and the remains of five thousand three hundred believed to still be in north korea friday marks the sixty fifth anniversary of the armistice of the white house is praising kim jong un for delivering on promises made at last month's singapore summit saying today the chairman is fulfilling part of the commitments he made to the pre

from the u.s. perspective, the house arrest of the pastor is not a positive thing in the u.s. seems to have had a deal that the pastor would be released and deported last wednesday and they said on the turkish side of the last-minute they reneged on that deal and they will accept nothing less than him being released and sent home. mark: elaborate on the relationship. relationship between turkey and the u.s. is that quite a critical time over a number of issues, not just this. ben: this is a very fraught relationship. these are two longtime middle allies, turkey is the second biggest army and nato and that's not a key bulwark of the u.s. defense posture in the middle east for decades. they have had differences over syria, the turks are now getting closer to russia, they had a case of a turkish state run bank that has been convicted of -- one of its executive has been convicted of helping to evade iranian sanctions and now you have these white americans the u.s. is seeking to get released, they've been imprisoned in turkey and the u.s. is calling the political hostages. vonnie:

the u.s. still has the upper hand in that it's the world's biggest economy it can do what it wants but trump doesn't realize that it could really backfire and the question is how much longer is he going to have the up ahead because the chinese economy is still growing a quite some pace you know six seven percent annually and at some stage the chinese economy will overtake the u.s. economy that is a given question is when and if trump keeps acting the way he's acting now he could speed up the process i mean if the chinese are in charge of standards in the world order you know the chinese you know china's human rights record you are also aware of how china bullies. businesses into doing business the way it once business done so you know at the moment you don't have much of a choice when it comes to who's in charge the u.s. or china the impact of all of this will eventually trickle down who are the biggest losers at the end of all of this at the end of all of this it's you and me the consumers ar

for the u.s., we've said all along that the u.s. needs to rally the rest of the world to its side in pushing china in the right direction. the problem with this tit for at that time retaliation, it puts china immediately in the defensive posture, alienates the u.s. from the rest of the trading partners and makes it harder for the u.s. to use the moral swaigs we could use in international negotiations i don't think this retaliation in the end is going to resolve the problem. it is going to cost both countries a lot in terms of economic activity. >> ambassador, we understand you don't think this is the right way to go about things if perhaps china hasn't always played by the rules when it comes to intellectual property, which was some of the impetus for us to get going. here we are. tariffs have been instituted between the u.s. and china and likely more to come in the coming weeks so what can companies and then ultimately consumers do about it how long does it take all of us to absorb this new price action? >> yeah. the biggest danger

we are not hearing from the u.s. side that they are willing to drop what the u.s. business community considers poison pills. it is hard to see how an agreement can come together by the end of august with many outstanding chapters that have not been revisited at all because of these poison pills in the room. shery: thank you so much for that. that is our bloomberg trade reporter. coming up next, find his own party when it comes to a carbon tax. we will hear from republican congressman carlos curbelo next. this is bloomberg. ♪ kevin: this is "bloomberg markets: balance of power." i'm kevin cirilli. shery: and i am shery ahn. let's go check of the major averages. we are seeing u.s. stocks gaining ground in the afternoon session. we have financials and health care leading the gains. the energy sector still underperforming a little bit despite the fact that we have higher oil prices due to rising tensions between the u.s. and iran. we have a mixed earnings season so far. the dow flat at the moment. bloomberg first word news. mark: thank you. bloomberg has learned the

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

tariffs that the u.s. is imposing the u.s. is saying those are justified because national security is at stake but on the other side the retaliatory measures from the european union from china from mexico or from canada are not justify and that's why the u.s. is filing its own complaint with the world trade organization for the short term that doesn't really mean much because it will take time at least by the end of twenty nine to get any kind of his decision the world trade organization saw there is no immediate effect here so we heard a little already about china's slowing growth how is all of this trade conflict affecting the prospects for economic growth. well we had a new report on monday from the international monetary fund and they're actually saying that global economic growth has told that the greatest risk really are those trade. the trade problems and they have floored the i.m.f. has lowered the growth perspective for the european union for japan for the u.k. and so far they leave the outlook for the u.s. stable but

the u.s. supreme court. >> definitely a chance for trump to leave his mark on the court for a significant period of time to come. taylor: eu leaders need to tackle the immigration crisis. the federal reserve releases results, and companies find themselves in the crossfire. >> in the trump administration, you can go from poster child to piranha in a new york minute. taylor: and executives weigh in on the impact of a trade war. >> they will have an impact in the long haul. >> we think demand the world needs everybody to be a part of that energy mix. taylor: ray dalio shares insights into the economic scene. >> if you have a downturn, i think it will be difficult. taylor: and the prime minister of greece and malaysia speak exclusively to bloomberg. >> i do not believe in absolute free trade. >> the most important thing today is that this is the end of it uncertainty for greece. greece is coming back. taylor: it is all straight ahead on "bloomberg best." ♪ taylor: hello and welcome. i'm taylor r

the u.s. and russia must find ways to cooperate in pursuit of shared interests and he added you would rather take a political risk in pursuit of peace than to risk peace in pursuit of politics. minister metyrian with his counterpart in moscow to discuss eu policies and sanctions imposed on russia. he believes the right-wing league party and italy's populist coalition government says sanctions do not solve the problems. the number of migrants arriving toitaly is down 80% compared 2017. he has promised to stop all arrivals except war refugees and pregnant women and young children. deadlyficials say a wildfire burning near yosemite national park double in size overnight. the u.s. forest service says the blaze is only 2% contained great temperatures near 100 degrees and rough terrain are making it difficult for fire crews to douse the flames. the wildfires, the peak of tour season and shut down a key route into the park and prompted mandatory evacuations for nearby communities. a firefighter battl

abandoned u.s. leadership is the if theenario but europeans get the gumption and the precision and or to set up backations that will push and let us not forget, it's not just europe that trump is trying to wrangle. south korea gets an enormous share of its oil imports from iran. japan as well. it isse countries decide better to pursue our own economic and security interests ,eparate from the united states therefore sustaining at least some salvageable core of the jcpoa, that is the best scenario. and yes, the worst is war which is possible. >> thank you all. please join me with a round of applause to our panelists. thanks to our sponsors and thanks to -- to all of you for coming. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> as part of our year-long 60 capitals tour, the c-span bus made the long journey to juneau, alaska, capital of the 49th state. this weekend on c-span, we will feature our stops across al

the u.s. goes low. rishaad: the u.s. will have a short-term impact on in china's financial markets according to the state-run news agency there. let's get to the markets. sophie: we are seeing pain across the board. chinese stocks leading the drop in the region. chineseseeing developers, airlines, those types of players sinking along, on the back foot, along with health care. stocks have become favored thanks to their exposure to the domestic consumption story. another bank cut its price target on the stock. gain sales will slow. checking in on what is going on with the yuan. $6.70.e, moving at they are looking to maintain the stability of the currency. chinese officials talked about going high, while the u.s. is going low. u.s. futures continuing to slide. gettingasset class hammered, industrial metals on the back foot. copper in shanghai, off nearly 3%. rishaad: news agencies are saying there is no need to overstate the impact of this on china. advisor is saying uncertainly -- uncertainty before this u.s. list works. o

. >> elsewhere, the u.s. and china washingtond threatens sanctions on a nato ally. >> and the ecb is sticking to its bond by and rape has strategy. mario draghi sees broad-based eurozone growth ahead. 8:00 a.m. inthat sydney. two hours away from the open here. ramy: and it's just past 6:00 p.m. here in new york. over the next hour we will look at how the action on wall street will play into your asia-pacific trading day. let's get straight to it, because it was definitely the tech story continuing along with earnings, after-hours about amazon as well as intel. rightn see those trading now. amazon is up by little more than 3% after the quarter profit beat estimates. but intel, even notes top and bottom lines of the, that is ahead is for a slowdown. let's take a look at what happened on the averages here. the dow up .4%, but it wasn't messy picture, all over the place here. , with no00 down .3% surprise, information technology being the biggest sector weighting that down. down, as youourse can see at the bottom

u.s. president donald trump is also looking to put in place measures to protect u.s. innovation and intellectual property but last week he backed down from imposing measures that would have restricted chinese investment in u.s. companies in order to protect u.s. technology trump told fox news on sunday he did not want to focus pacifically on china the european union is possibly as bad as china just smaller ok it's terrible what they did to us european union take a look at the car situation they send the mercedes in we can send our cars and look what they do to our farmers they don't want to farm products you know in all fairness they have their farmers so they want to protect their farmers but we don't protect ours and they protect here's trump has rejected criticism of his tariffs but his trade dispute is already costing u.s. jobs and american manufacturers including harley-davidson motorcycles are exploring options to go off shore. and joins us now from singapore. how patriotic ah the chinese will they boycott american products. well that seems to be the general con

choosing to pull u.s. troops or some u.s. troops out of europe or not do military exercises the kinds of things that he did after his meeting with kim jong un in north korea thankfully with us we didn't see that and that that's i guess one glimmer of good news out of this but i think what was shocking to everyone in washington and i really throughout many parts of europe today is the fact that the president still to this moment will not concede that russia interfered in the twenty sixteen election that his own intelligence community unanimously agrees i'd be interested in your reaction to another tweet this time from former cia director john brennan in it he says donald trump's prescott. before i was in helsinki it rises to and exceeds the threshold of high crimes and misdemeanors it was nothing short of treasonous but only with trams coming in the civic is wholly in the pocket of putin you make of the least work john brennan in the white house he's one of most honorable public servants i know he's worked for republicans and

u.s. imposed tariffs and spawns fears of a trade war. u.s. court orders the trumpet ministration to release the names of migrant children separated from their parents at the border. and in sports are only european teams left in the world cup as both europe and brazil crash out of the quarter final. the syrian government is back in control of southern that are provinces after it reached a ceasefire deal with rebels it ends more than two weeks of fighting that had forced three hundred thirty thousand people to flee many to the border with jordan the deal was brokered by russia which has been supporting the syrian government burma smith reports from the jordan syria border. for the first time in three years the syrian regime is back in control of its fronted with jule this military convoy flying russian and syrian flags rumble towards the nazi border crossing minutes after opposition fighters agree to surrender terms they had little choice in the face of overwhelming russian firepower the fig

elections in u.s. democracy but we really don't know and this is very much donald trump style that he wants to go in there and have a one on one conversation that's very much sort of man to man we're not even going to know jure in the course of the conversation or after the conversation properly what they've talked about because there's no real indication that it's going to be there's certainly going to be nobody else in the room apart from the two translators and there's no indication as yet or we simply don't know whether that's going to be an official record of this conversation but that makes the advisors of donald trump the diplomatic corps the washington people very nervous indeed because they know that their man has only had eighteen months in office whereas vladimir putin is out eighteen years in office it's a vast dearth in fast difference in experience there and that makes the american side very very nervous indeed. you know he's peter craven there reporting from health sinky with me now. on

is already concerned about rising prices at the weekend u.s. president donald trump called saudi arabia's king solomon and said they do agree that the saudis would boost production but there's no sign that prices are dropping particularly as the global economy is growing and demand for energy is up india south korea turkey all u.s. allies are major importers of very unoiled they might not be able to switch providers quickly or even want to the trumpet ministration would then have to decide have sanctions on them would follow the other signatories to the nuclear deal say they still support it and are looking at ways to save it alan fischer. all right let's bring in our guests for today joining us now from london is monday to salam are experts in the economics geopolitics of oil and energy and author of over a barrel from tehran how to do some of the who's professor of political science at the university of tehran and also in london some three hundred whom you saw a few moments ago and alan fisher's reports he's a middle east analyst and editor o

the u.s. currently the largest consumer of oil consuming twenty million barrels a day just in two thousand and seventeen but that wouldn't be possible without pipelines that transport the field from its source to the market and although the u.s. has fallen behind internationally and seen a rapid decline and its infrastructure when it comes to telecommunications transportation and water there one critical bright spot has been on energy thanks to what has come to be known as the shale revolution the u.s. is now growing closer to becoming a net exporter of crude oil and natural gas and is projected to by pass russia and saudi arabia the current global leaders in energy but. this dramatic spike in energy production has created a dilemma in that the existing pipelines are not equipped to deal with such an influx as there are already operating in full capacity let's take the cost of transporting natural gas by train a cost that's nearly five or six times that of transporting by pipeline as economist

they hold the u.s. and have long held the u.s. to be this shining example of democracy and strength. like one country strong enough to stand up to russia. so to see this happen, it is stunning. i mean, i know we're saying this over and over. but there was one time that trump called out vladimir putin by name. and that was for supporting as he put it in a tweet animal assad. this is one time that he's standing next to vladimir putin, one chance he had to at least attempt to put -- he wants to put it to rest? put it to rest calling him out once. he couldn't do it. he has gone above and beyond the kremlin's talking points. hearing from putin on election hacking is the same thing we hear from the kremlin. show me the evidence. there's no evidence. show me the evidence. president trump went further and further to criticize his own country right next to vladimir putin. >> my first time at sea, my first deployment in the navy in the late '80s, to the waters here to the north atlantic and the baltic for nato exercises, and i don't think -