sophie: investors are working through the chinese data and we see fluctuations where hong kong and chinese markets. the hang seng index and shanghai composite down 0.1% after recovering from most of the earlier losses, which was triggered by the chinese data. when you take a look at the details come easy retail sales with a strong rebound, taking up some of that flag after disappointing industrial output. again, we are seeing swings in hong kong and mainland markets. when you look at the aussie dollar, bulls not too impressed by the data come it would s eem. the onshore yuan, swinging 628 range. 627 and the nikkei 225 closing of the morning session fairly flat, with the handleyen near the 107. the aussi shares gaining ground with the aussie dollar on the back foot. what is happening with indonesian rupiah, advancing the stocks in jakarta. we have bigger than expected trade surplus and the korean won rallying after sustaining key technical support, climbing for the first time in four sessions. i do want to check on lme aluminum prices, holding your a 2011 high. the market weighs the possibi

the chinese responded to that. now the president's responding to the chinese will these ever go into effect we don't know. we'll wait and see what the white house has to say about all of this. but it's jobs friday, so a lot of economic news today >> thank you very much >>> a can't-miss interview on "power lunch" later on today the treasury secretary, steven mnuchin, will join the "power lunch" team to talk taxes, tariffs, trade and the economy that's at 1:00 eastern time. "power lunch" is a pretty good program. check it out >>> moving from trade to tees. let's bring in eric chaieric ch will start not with golf but a guy throwing trash cans. >> he's a small guy, 155 >> all muscle. >> conor mcgregor is in some hot water today. he turned himself in to police last night following an incident at the barclay center in brooklyn he showed up at a ufc media event that he was not invited to he was caught by tmz throwing a cart into a bus of fighters, fighters that were supposed to fight this weekend two fighters on the card

joining us now, the head of chinese research. good morning. be changing tactics from the chinese. they came back harder and faster than they have done in the previous responses to the trump administration. about thethat tell us evolving strategies we are seeing from the chinese and the lessons that have been learned? >> china knows it can afford to play highball on this. it has a lot of its reliance on exports or for technology which is lessening. it can afford to stand up to any sort of u.s. aggression as it sees. administration, china is a lot more confident in its global stand, so it things it can stand up to the u.s., and also, it learns wha lessons from japan in the 1980's. demands,lated in u.s. and suffered as a result. china does not want to end up with the same fate. matt: i wonder why, miranda, china is not being even more aggressive. i mean, they continually match president trump with tit-for-tat terror threats, but they -- tar go threats, but they don't above and beyond. why don't they double down on there' strengths -- their strengths? miranda: to be honest, they are f

the chinese currency seizing the u.s. dollar but it does mean that increasingly some of the flows will go in r. and b. this gives chinese refiners and domestic traders the ability to buy a crude using their own currency but again the transition to the dollar will still have to happen so just picking up on that then what does this mean for for the oil consumers like china that they are going to be trading on their own currency what is that what implications does that have going for i mean the goal is for china to establish an asian benchmark that will reflect chinese consumption and sort of chinese and more broadly asian demand patterns but in the near term we have to bear in mind that roughly seventy or even more than that of the people registered on the retail investors so there is a huge risk of speculation being pretty rampant on the irony and to begin with we are seeing quite a lot of movement that is fueled just by the need of chinese mom and pop investors to find a place to put their money so we shouldn't place too

the big moves happened in chinese indices. shanghai was up 1.7% also hang seng was up 1.6% in trading. this after more conciliatory tone coming out from president xi that buoyed up australian indices. because we had so much volatility in u.s. equities, let's see what the picture is for today. looks in line with asian bourses. in line with european bourses. the u.s. equity market is set to open up higher dow seen opening higher than 300 points s&p opening up 30 points higher. lower import tariffs and a further opening of the chinese economy were among the promises made by president xi jinping in his speech his comments come amid growing trade tensions between the u.s. and china. xi reiterated his desire to open up the financial sector to foreign firms. in washington president trump restated his belief that the u.s. is on the end of unfair trade deals. >> china has been taking advantage of the united states for many years if you look at it since the start of the world trade organization and they have really done a number on this

>> i can tell you, chinese women are famous for that. make your life, you want it and you go for it. >> cheers. ♪ >> traditional chinese love is about sacrifice. in china, happiness is something luxury. family is so much more important. and happiness is something that's not 100% necessary. but i think that in order to know how to love, you have to love yourself first. this is what i believe. ♪ >> what do you love about angela? >> wow. honest. >> honesty. >> yes. >> only one? >> homosexuality was decriminalized here in 1997. not only the hurtle to become is the judgment of society, but the judgment of their families. you didn't come out until you were 31. >> yeah. >> what was your mother and father thinking because in china, it's kind of old for a girl not to be married, right? >> i was married. >> you were married. >> yes. that's famous in chinese homosexual society, this is a way to help each other. it's a marriage for convenience. >> just so i'm clear, you got married in order to divert your parents' attention? >> right. i was unde

at the same time, the big auto firms are mulling over the chinese pledge to open up its markets. the government is ditching the 50% cap on foreign ownership. but is it too late? no, business is a lwa ys but is it too late? no, business is always going on, we're always further developing and there's a lwa ys further developing and there's always new decisions and we are currently planning for the next five to ten years. ndinga cap is something donald trump has called for, so will america's number maker ta ke for, so will america's number maker take advantage of it? no plans to do that. —— ending the. you never say never about something like that. that. —— ending the. you never say never about something like thatm fa ct never about something like thatm fact america is going the other way, it wants its business here to become or chinese and being an iconic american brand could prove a problem if the trade war gets going with the chinese government encouraging consumers to stay away from anything over their. much fanfare about the reform confirmed to open up the car market an

hikes tariffs on fifty billion dollars worth of chinese imports. and fifty years after the assassination of martin luther king jr we'll take you back to the city where he was killed. donald trump has spoken again of his desire to pull u.s. forces all to servia suggesting that victory is imminent he says he expects to make a decision very quickly but declined to offer any specific timetable well the u.s. has about two thousand troops on the ground in syria and almost every day the pentagon says there's still a lot of work left to be and stabilize the areas recaptured from it trump says if allies like saudi arabia want america to stay in syria they may have to pay for it alan fischer reports now from washington. the president insists he's never been keen on america's foreign military adventures seeing the cost too much money thank you at a news conference at the white house with leaders of three baltic countries donald trump insisted as a citizen on withdrawing from syria is coming quickly i want to get out i want to bring our troops back home i want

huge subsidies to chinese companies. that is creating an uneven playing field. it is also looking out -- locking out for an investment. locking outo foreign investment. the mandate is to move the economy up, but on the other hand, it is being funded and financed and backed by the government. it is a contradiction. haidi: which is very much the chinese playbook of doing things. end, our tariffs the way to solve this or are they the start important for a conversation? -- or are they be starting point for a conversation? i think it's going to be a combination of things. 301 withhat section the ip investigation and these $50 billion in tariffs, that is intended to bring beijing to the negotiating table. the feeling is this time things are different. beijing is not going to drive a wedge between washington and its european trading partners and allies. there has been a backlash brewing in europe and among the g20 countries when it comes to china's trading practices. tohink this is intended exact deals from the trump administra

he is the face of new china, a new breed of chinese entrepreneurial. young, confident, with deep financial pockets to try something new. translation: with deep financial pockets to try something new. translationzli with deep financial pockets to try something new. translation: i am now 35 years old. my entire management tea m 35 years old. my entire management team has a lot of people in their 30s. we are idealistic and can be rash sometimes. is but we also bring a lot of surprises. he has a future for what the future is going to look like. —— a division. no parking problems, no bottlenecks and congestion it will do all this with one thing, data. there is lot of sensitivity amongst officials in the us government and consumers that chinese company may hand over that sensitive information back to the chinese government. how do you view that attitude? translation: when american countries first entered china, there were also these concerns speak without you are chinese or american, data is the lifeline of any business. cannot guarantee data security an

is the tide turning against chinese tech companies. the heat is on there's no question about it and it is to a certain degree a new development and we have talked quite a bit in the past couple of days and weeks that donald trump might try to make it more difficult for the chinese investors and companies to invest into the u.s. to get all the g. area all told that it will be more difficult for chinese companies to buy into the u.s. to get all the industry is so now we have a case the other way around so that also american tech companies might not be able to do as much business with china as they used to we have to wait and see you said to you might be a special case but it certainly is an interesting new development in the tens chinese u.s. relations and netflix results out and it seems that there shocking skeptics and beating wall street expectations what's the story. well at least the initial reaction here on wall street is quiet before the stock after the last earnings report in generally it was up about forty percent after back the

the chinese economy is great much like the chinese. it's a net lender to the world, not a net borrower. if they were a net borrower, i would worry. but they're not. it's still running a slight surplus on the current account. it's very responsible fiscal budget. the budget deficit is less than 3% of gdp. the point is now the engineering back towards deleveraging program would require building step-by-step the capital markets. the chinese have been much more successful and very much misunderstood the west. but it really means is, when we look at the financial markets, we look at the new model. that's the olympics. when you now need to build is not the universities, you need to build the secondary schools. need to build the primary schools. the fourth new market and the third market is how to breathe graduate tops to the second tier market. that is the third and fourth new markets. it started happening area the private equity market in china is already too in a half times the size of the u.s.. they have grown rapidly and are not as sophis

against women these are all issues that chinese society faces and chinese people have something to say about it and they have a voice and it's not monolithic and we have to help create the space that. enables them to decide what kind of future and what kind of present they want we'll have to leave it there sharon home to the issue thank you both for joining me in the arena that's our show up from will be back next week. hello there is dry unsettled for most of us across australia at the moment the satellite picture is picking up a little bit of cloud in the south that's making things rather grey and at times rather damp across the tasmania but ahead of it is staying fine but it's also staying very hot adelaide their office thirty three degrees on tuesday the average at this time of year is twenty six and it's going to stay hot even as we head through wednesday thirty degrees this time will be our maximum you can see the clouds building out towards our west but i don't think it's going to reach us in adelaide until thursday or friday now out towards the east and we've got a swirling are

is the tide turning against chinese tech companies. the heat is on there's no question about it and it is to a certain degree a new development and we have talked quite a bit in the past couple of days and weeks that donald trump might try to make it more difficult for chinese investors and companies to invest into the u.s. to good knowledge area also that it will be more difficult for chinese companies to buy into the u.s. to get all the industry is so now we have a case the other way around so that also american tech companies might not be able to do as much business with china as they used to we have to wait and see you said to you might be a special case but it certainly is an interesting new development in the tens u.s. relations and netflix results out and it seems that there shocking skeptics and beating wall street expectations what's the story. well at least the initial reaction here on wall street is quiet. the stock after the last earnings report in general was up about forty percent after back then netflix reported record n

the chinese are clever here. i am sure the white house got dozens of calls from the soybean farmers this morning, it is going to bet both parties to the table and that's what the chinese wanted and they accomplished that. >> we'll talk to one of soybean farmers at the next hour thank you all for joining us keith bliss and rick santelli. thank you all for joining us >>> about a 200 point swing. it has been a steady game from lows to highs. the nasdaq leads to dhachart at 1.4% >> in asia, two global strategist is weighing next and still to come, what gundlach thinks it is fascinating about bitcoin, back here on "closing [phone ringing] need a change of scenery? the kayak price forecast tool tells you whether to wait or book your flight now. so you can be confident you're getting the best price. giddyup! kayak. search one and done. some moments can change everything. you can't always predict them, but you can game plan for them. for 150 years, generations of families have chosen pacifilife for retirement and life in

the chinese currency seizing the u.s. dollar but it does mean that increasingly some of the flows will go in r. and b. this gives chinese refiners and domestic traders the ability to buy a crude using their own currency but again the transition to the dollar will still have to happen so just picking up on that then what does this mean for for the oil consumers like china that they are going to be trading on their own currency what is that what implications does that have going for i mean the goal is for china to establish an asian benchmark that will reflect chinese consumption and sort of chinese and more broadly asian demand patterns but in the near term we have to bear in mind that roughly seventy or even more than that of the people registered on the retail investors so there is a huge risk of speculation being pretty rampant on the irony and to begin with we are seeing quite a lot of movement that is fueled just by the need of chinese mom and pop investors to find a place to put their money so we shouldn't place too

presently for a comments from other chinese. foronciliatory comments other chinese. vonnie: do you really want to own caterpillar or boeing? >> people feel like there is not much of an edge in owning this stuff when you think you have had a good day or a reasonable week the last few days, you get home and are eating dinner, and the latest bomb hits and friday will be a lousy day for you. it is difficult to have conviction. earnings season is just around the corner. when you have these orthogonal risks come out from left field. it has been a long winter in the states. and marketatherwise wise comment terms of this trading environment. mark: it is jobs day, it has been supplanted by trade. we have jerome powell speaking shortly. , whatll he address trade is going on in markets? >> the second question, i think the fed would take the view that this is not totally abnormal. financial conditions broadly speaking are still relatively easy. if anything, it is probably a good thing that volatility has picked up and reminds investors that there is risk, if you deploy capital i

$100 billion in tariffs on chinese imports. this after china threatened $3 billion in tariffs against u.s. imports, marley targeting -- particularly targeting manufacturers and farmers. the president calls this unfair retaliation, and he says he's ready to take action. but the president's top economic adviser, larry kudlow, said on fbn earlier today that nothing is set in stone. >> this process, it may include tariffs at the end of the day. i say "may." it may also not, it may be solved by negotiation. i can't promise that oren even forecast that -- or even forecast that. >> reporter: but the threat is drawing concern from capitol hill to main street. senator ben sasse calling the move in a statement, quote, nuts, saying it is, quote, the dumbest possible way to get even with china. we also heard matthew shea, president of the national retail federation, say, quote, this is what a trade war looks like and what we have warned against from the start. kudlow telling reporters today it is time for china to act like a first world co

reuters reporting that the finance minister says chinese tariffs on u.s. soybeans for flight farmers and the two have to be resolved through negotiation. >> soybeans certainly weapon in the political discussion. take a look to european markets as well pulling back. the euro zone inflation rose for the first time in four months. that does send a message to the european central bank. we have errors in europe, that they are not as bad as here in the u.s. the dax is the worst performer in germany. the index down 1.4%. let's talk more about the political side of this. and once the right i'm robert college earnest now. democratic strategists and founder of blueprint strategy. robert can you say your last name for me. >> ceilidh. poster at the group. gentlemen, good morning. do we have been a lot trade were on our hands to our hands, antjuan between washington and beijing? >> if we do not, were getting very close and it's quite scary because i don't think anyone anticipated responding dollar for dollar up this point. not even president donald jay charmed. i don't

they want to target something up to $50 billion in chinese goods for what they say chinese intellectual property theft. we did see china coming out today as expected with going tariffith small readjustments, something like $2 billion being targeted. it has been announced it will go day,effect on monday, your . think the big whammy from china would be in response to the next u.s. move. the trade wars are a little bit kind of slow to really ramp up, but once the u.s. takes its next step, we might see china get more aggressive as well. that is a danger people definitely see. another issue the president has been vocal about is amazon. he tweeted more about amazon. do we expect that to continue, and what can the administration, the president do if anything on amazon? ros: there is a few things they could do. they could seek an antitrust inquiry into amazon's practices. they could address the way to make it mayes be paid more like the traditional retailer, and they could pressure the post office to charge amazon higher postage. hard to know if any of those actions would succeed. trump ate pre

tariffs on chinese steel and the minium beijing now imposes levies on the u.s. products including pork wine and fruit we'll get more on the world's top two economies trade dispute from our asia correspondent. also on the show portugal abandons the austerity. policies pushed for by the e.u. the result the portuguese economy is growing again. welcome to d.w. business stocks in china kicked off this new week with mild losses amid lingering worries of a full blown trade war with the united states on sunday china announced tariffs of up to twenty five percent on one hundred twenty eight u.s. imports including pork and wine the new tariffs kick in today and beijing said the move was to save china's interests and balance losses caused by a new us terrorists. these american avocados are destined for the chinese market but they might not sell so well anymore now that china has imposed tariffs on fruit and meat while steel pipes and scores of other imports from the usa the rates of fifteen percent on one hundred twenty items and twenty five percent on eight others . the c

to curtail chinese ambitions. they are obviously competing with each other but it depends if you are competing fairly. the u.s. doesn't have the same access to chinese markets on technology. look at cloud computing, an obvious one, internet for example. that china would have in the u.s.. i'm not saying it is a one-way street, but china is a much more closed economy than the u.s. was. the u.s. once didn't care so much about that but now that china has caught up so quickly and so greatly, it is a genuine strategic threat. it is finally coming to a boil in the u.s.. haidi: we were hearing in the lead up to all this that the to thented a approach tariffs. you look at the types of goods, things like nuclear reactors. i don't know how many private citizens are importing that from china, but there are 100 56 types of steel. is it more symbolic when china doesn't actually have that much of a steel trade with the u.s.? >> it is interesting when you compare the two lists and the nature of the trade between the countries. ho

serving the biggest auto market of the world the beijing motor show kicked off in the chinese capital it comes as the skyrocketing growth of new car sales appear to be slowing for the first time still chinese than sooners drove more than twenty nine million new vehicles off lots around the people's republic last year chinese drivers love their s.u.v.s which make up around forty percent of sales but electric cars also booming they jumped by more than fifty percent last year to seven hundred eighty thousand units now that may be a fraction of total new car sales but it still makes china the world leader in the evy he told business and with beijing's thailand quote us for electric cars sales are likely to increase further german manufacturers want a piece of that pie although having been slow in that he caught of element in you had a false flag and has even made the china business a freestanding unit within the company. and d.s. is exactly where he wants to be leading vokes wagon and just like his predecessor his sights are set on china this is where big bucks are made with a brand new s

the chinese officials and the chinese businesses had their talking points down almost too well. however, the impression that i took away from the visit is that the chinese government will do anything legal or illegal, moral or immoral, ethical or unethical to get ahead of the united states and when they get ahead, to stay ahead. china coined the term peaceful rise to describe its drive to become a great power, which is designed to sound very benign. in fact, china later changed this slogan peaceful rise to peaceful development, out of concern that the word rise sounds threatening. just to be clear, i'm not threatened by chinese economic growth. the development of a truly peaceful, free-market democracy, no matter how large, would not be threatening because democracies generally do not threaten each other and free enterprise is mutually beneficial. the fact that so many chinese people have been lifted out of poverty and into the middle class is a good story for humanity. a very good news story. it's also good for the united states. the more chinese people that can afford to buy o

market is extremely important for germany and so with the chinese market it looks as though the chinese may end up being a little bit alone in this case because based on what we've heard from the minister for economy of germany peter. it looks like at this. point germany may end up siding with the rest of europe as well with the u.s. we also had talks last week between try. and merkel and he also spoke with the french president manuel separately and judging by what was said it looks like the e.u. will be siding with a u.s. ship on the just very briefly to take it down one of two notches and look at new consumers what's that mean well if there's more tariffs on certain goods it means they become more expensive so if someone is sitting in china wind is going to be more expensive u.s. wind that is and of course if there's less tariffs on u.s. cards then in europe it means that we could maybe you know buy fords or seven cards much cheaper so we so you think like a cheaper and that's what you're planning on doing and that's good news. business thank you so much for this the gulf nation of ba

and we cannot allow the chinese to gobble all of that up. that from larry kudlow this afternoon. >> neil: all right, john roberts. great reporting my friend. this back and forth might seem to you like he started it. if you have kids, it does ring a bell. we have two individuals from washington joining us. republican senator tim scott, republican congressman trey gowdy. both book unified how our unlikely friendship gives us hope for a divided country. i don't know if it has a section on trade wars, gentlemen, but, senator, the division in this country has to do with a lot of folks saying we don't know whether trade battle with the chinese is the right thing to do. how do you feel about what the president is doing? >> well, good to be with you. thank you for help us promote our book "unified." the reality the president is complaining about two important issues. one is trade one is theft. on trade we run a trade deficit with china. we believe they have been unfair in their trade practices so the president is looking for ways to address that iss

narrator: wild aid features celebrities like chinese basketball legend yao ming to educate the chinese public about ivory. knights: well, the chinese government has been very supportive. we''ve been very lucky that cctv, which is the main governmentnt run tv station in china,a, has run our messasages in prime time. hutson: when they're surveyed, up to 70% of chinese consumers say they didn't know that for ththem to buy an i ivory trinket means that an elephant actually has to die. and oncece they learned that fact, most of them say they will no longer buy ivorory. narrator: must africa's elephants go extinct? saving them calls for a multifaceted solution. hutson: we have to looook at the demand side, at the supply side. we have to cooperate internationally.y. we have e to involve businesses and statecraft and private citizens and ngos and law enforcement, and we e have to educate people worldwide that your ivoryry trinkets mean that an elephant hasas to die.e. thornton: we need to go back to the total ivory ban, including completete ban on domestic t tre in china and japan. if china an

they don't want to offend the chinese. china is a fascist country you think about the global pariah, our blue states would block travel to china the way they blocked travel to north carolina over its bathroom policies -- of course they don't do that. california government governorn went to china nobody cared. google massively expanding its artificial intelligence operations in china even though that will almost certainly empower the chinese military. but ignore all of that to come over to gaze, remember russia is the real threat. if you disagree with that, you obviously work for vladimir putin. harry, you never hear anybody say this but let's be as honest as we cann be.

asked again what will the chinese do if the u.s. decides to -- upgrade this certain -- escalate this situation, he said, we have a planned detailed action in place. obviously, china taking this very, very seriously and something else that we've been seeing is in the state press, the state press basically projecting the idea that china has higher tolerance to -- for a trade war and to survive a trade war and on social media, we are seeing the top trending topic is trade war, the second one is china is not afraid, and also, somewhat disturbing trend that we're starting to see here, is that there have been some calls now for boycotts, some people are saying those who comment, using an iphone here, it's time to support domestic brands another person writes, boycotting american products starting from today, no iphones and no american cars these, again, are just comments that are going on social media, but the reason why it's interesting is because in china we've often see government-sponsored anti-japanese or american campaigns in order

because maybe the chinese would veto that. maybe it would take over premium on a lot of stocks >> if they were to rule against qualcomm's acquisition, that would send a terrible signal there are so many technology deals that need chinese approval so you basically say we can never get another technology deal done until things change. many people hope, certainly, it does not occur because it would be a real negative by the way, that would be reciprocated here. not that any chinese companies are trying to buy anything. >> what happened with what we've heard so far in the at&t trial i mean, it's aplenty. >> yeah. aplenty. >> yeah. >> broad come and qualcomm >> yep. >> they got a lot of witnesses to go in the at&t trial. >> yeah. >> all i can tell you is a lot of consolidation theories drove a lot of these tech stocks look, again, i don't think tech is a great sector to own here. because nxpi, because what you will get how much is self-owned. you have depth internet of things and internet of things would get bought but now it's fro

be chinese inway malaysia? >> that is already a good fdi.ition of they want to set up factories here. you seen our workers and you see managers. everybodyme like else. rish: malaysia prime minster mohamed speaking. have a look ats how the morning panned out for tokyo.rs in unchanged. yen getting little bit of stability at the moment. tensions surrounding has a currency. the nikkei bases down just over 5% year to date. today, 115 stocks theng up, 109 moving to downside. 113 going up to 108. towards that. what else is going on in the asia-pacific. day we were mixed. upside.oved to the this is bloomberg. ♪. >> i'm paul allen first headlines. new survey suggests most holing a now support vote on the final brexit deal hammered out between london and brussels. for the pro remain group says the public should have the casting vote on whether to accept the agreement. those in support of a vote by 8%.opponents respondents said the stay in the referendum.ond jerome powell inflation and jobs hikes.s plan for rate rise of

one o f the reasons the chinese is down of the u.s. because of capitol control. they have driven objectives of where capitals should go and they have been explicit and want chinese firms. forget about movies and entertainment, folks, we want you to go after technology where should the government come down on that issue >> first of all, the chinese government needs to move as it is stated repeatedly to market farmers marke forces >> i support protection of u.s. national security but i wanted done in such a way that we don't depreciate the entire asset b e based of the united states when we lose chinese bidders for whether public or private ass s assets the price of that asset is less so it can have an enormous effect which i think is quite dangerous. we need to make sure we get the equilibrium. >> who is the in wither out of all of this and all the money that would have gone from china into u.s. investment >> i think u.s. investors are. i think pension funds are. >> no, where is the money going? the money that's blocked by the chie menese and the u.s >> the winner

market in the chinese market. that is not the case for everyone. every company right now will be looking at, not only what is on the u.s. list for imports from china, but on china is now retaliatory list. determining how it affects their supply chain, and trying to determine what it means for their businesses. david: chinese officials said that we will fight this war if we have to but we would rather negotiate and talk it through. do you know, is the admin's ration listening to your members -- administration listening to your members? >> we have an open dialogue with the u.s. government. we have been consistently encouraging the u.s. and chinese government to get to the table to address the issues. shery: what would a successful dialogue between china and the u.s. look like? >> a successful dialogue would be one in which china acknowledges that the intellectual property rights, protection, technology transfer policy concerns are legitimate and there are tangible actions that china can take that would stop the admi

instead, we drive them into the arms of the chinese and we pick a fight with the chinese. it really makes no sense. the other curious thing is the timing. we may be going into a high stakes negotiation with the north koreans over their nuclear program. the chinese hopefully can be instrumental in pressuring the north koreans to come to the table and to do the right thing and instead we pick a fight with the chinese. so both the timing and the way that this has gone about reflect i think a president who's thinking tactically or living in the moment rather than thinking strategically how best to accomplish our goals in the long run. >> ron insana, china holds $1 trillion of u.s. debt. essentially they're our banker. don't they have a lot more leverage over us than we realize? or maybe the president realizes? >> they do. it is a low probability event that they would dump u.s. treasuries because it's the economic equivalent of mutually assured destruction. however, having said that, china has come out and said they will fight us to the end on this trade war, which they now exp

announced tariffs on $50 billion worth of chinese imports. let's see how markets are taking this news. it did just come out about a half hour ago. that's why we are seeing those four bourses trading in the red after trading briefly green earlier. xetra dax is leading the declines this morning, down more than 1%. cac 40 also struggling in this session. let's switch to sectors and look at where some of the leadership is coming from oil and gas is still the only sector trading in the green. doesn't look like it will be there for long technology stocks yet again struggling, down 1.6%. banks also down 1.4% chemicals down 1.3%. broadly speaking almost every sector has been hit by this news we had a few corporate announcements earlier, but the main macro story this morning has been about the tariffs let's look at foreign exchange and see how the currencies are reacting here. you can see euro/dollar is trading higher back through 1.23 again. dollar/yen, big currency pair. again we're seeing a theme of dollar weakness there. yen is about 0.5% stronger

a response to the white house detailing the $50 billion worth of chinese tariffs -- tariffs on chinese good its plans to hit. let's go to ivan watson live in beijing with the breaking details. what are we learning here? >> reporter: china's ambassador to the u.s. warned as the chinese saying goes, it's only polite to reciprocate. hours after the trump administration announced plans for 25% tariffs on $50 billion worth of chinese exports to the u.s., now we're hearing from the chinese ministry of commerce that they are planning to impose a 25% tariff on 106 u.s. products. and they would include soybeans which was a $14 billion business from the u.s. to china in 2016. also auto products, chemical products, and aircraft, the second largest export in 2016 from the u.s. to china. we don't know when these tariffs, the u.s. and chinese tariffs, will go into effect. the trump administration's plans are subject to change and a public meeting that is scheduled to take place on may 15th. the chinese have said several times that they will respond with the same magnitude and the same scope to any u

it is cooked to get a chinese perspective on this —— it is so good to get a chinese perspective on this. what are the media in china making of this? the media in china are most concerned about the consumers in china, number one out of the latest news is that food inflation may be impacted on tariffs imposed on soy bean imports. in china, people consume a lot of pork so china, people consume a lot of pork so it has implications for pig feeds. that is the biggest thing the china media is picking up on. secondly, what we have to get clear is these are warning shots being fired, we are not yet at full—blown trade war. there was no sign of when the tariffs will be imposed, so so far, it is more likely we will get the negotiations. what about the inflationary concerns within china, especially with respect to some of the tit—for—tat tariffs being suggested by the chinese government? asi suggested by the chinese government? as i said, the food inflation pressures will be key concern for policymakers. whatever happens in the next few days, chinese policymakers will have at the top of the a

this is the chinese wto. the u.s. measures gross violation of wto rules and they pledge retaliation over u.s. tariffs. it is going to 22 in dubai. we are going to hear from chinese and other two years time -- two hours time. this is the rhetoric, it is building up as a willful distortion of the facts. let's bring our guest back into the conversation, alexis gray. very first response here. the rhetoric, the action of wtoica being met clearly by , being called a willful distortion of the facts. alexis: i think that is right. these countries operate under the wto and imposing tariffs goes against those rules. it is natural for the chinese to push back and argued that this is not permitted. expected. is to be as this moves forward, this along the tech selloff is taking the edge of stocks. not necessarily other asset classes. your take over at vanguard and with his head, how much this this nervousness affect other areas of the market? alexis: we have seen a return of volatility is. where in a correction in equity markets b

why does the chinese state still fear the few. the few who speak out and i'm thinking of. that place i mean the man won the nobel peace prize. and he's in prison he's a violet the child is a low five. so. pretty free of expression similar views by many people but he really going to dijkstra. challenge the government to implement democratic reforms and spent a total of thirteen years in prison. why can't a confident china accept a criticism like. peace committing makes huge mistake the oh the chinese an explanation if you cross a line of course you're violent constitution uveitis so many laws you should be punched. were. and yet in china today the spirit of protest and sent lives on in different forms. in two thousand and fifteen strikes and community protests and activism reach record levels this resistance is seldom reported in the west. so there are also protests in china. typically for example land being grabbed by officials to for commercial development and the farmers are not being compensated to properly and the farmers now are no more wary of their rights so they're

they target $50 billion worth of chinese imports. president trump insists chinese intellectual property practices have unfairly harmed american businesses. kim gittleson has more from new york. just two days after china placed tariffs on 128 us products, the united states has responded with a list of its own. running to 1,300 separate items, the range of chinese imports that could be subject to additional tariffs covers everything from biscuit ovens to flatscreen televisions tojet engines. the us has said that it's specifically focusing on china's robotics, aerospace and machinery sectors. there will now be a 60—day comment period before the list is finalised and the tariffs go into effect. already, several us business groups have said that they oppose the tariffs. kim kallstrom, bbc news, new york. the bbc‘s robin brant in shanghai said china was ready to respond. it says it will respond on an equal level. i think we can expect another list from china's ministry of commerce, a list that will be specific and that it will publish

the diary of a chinese traveler and twelve ninety six gives us an impression of court life under the command monarch. when the king leaves the palace grounds soldiers not to the front of his retinue the minister in princes ride on elephants accompanied by more than a hundred gold patent parasols. behind them comes the king standing on an elephant is priceless sawed in his hand. the tasks of his elephant are incased in gold more than one hundred white sunshades with handles the knobs of gold are held around the king. girls from the palace accompany the procession around three to five hundred of them dressed in floral robes with fresh flowers in their hands. more girls follow carrying lances and shields then come the wives and concubines of the king carried either in letters or a carriage or seated on horses or elephants. jayaraman the seventh was the first buddhist king of cambodia he saw himself as the living buddha at the end of the twelfth century he ordered the building of the central temple and uncle aton that they are his religious status and social and military achievements are

is the tide turning against chinese tech companies. the heat is on there's no question about it and it is to a certain degree a new development and we have talked quite a bit in the past couple of days and weeks that donald trump might try to make it more difficult for chinese investors and companies to invest into the u.s. to gain knowledge area also that it will be more difficult for chinese companies to buy into the u.s. to get all the industry is so now we have a case the other way around so that also american tech companies might not be able to do as much business with china as they used to we have to wait and see you said to you might be a special case but it certainly is an interesting new development in the tens u.s. relations and netflix results out and it seems that there shocking skeptics and beating wall street expectations what's the story that. well at least the initial reaction here on wall street is quiet. the stock after the last earnings report in general was up about forty percent after back then netflix reported rec

chinese companies and form -- foreign firms can compete equally. david: let's get it over to beijing. tom mackenzie is there to talk more about what yi gang said. his boss said it yesterday, i am guessing he was just echoing what xi jinping said in boao. tom: reflecting what xi jinping said, but moving it just a notch around what these policies promised will be implemented. it was interesting to hear him say the london to shanghai stock connector will be implemented this year, because it was something that seemed to be placed on the back burner. the shanghai and shenzhen connectors would be quadrupled. the caps on foreign ownership of chinese banks would be removed. oferlying the strengthening what he said would be a wide opening of the financial sector. chinese policymakers on the reform side have long argued they are getting more foreign players involved, will help in transparency and in terms of generally the competition in the sectors. it is the second time he has speak and in public -- spoken in public. surplus, about the which is something of

whilst the chinese have $375 billion surplus with the americans, the germans have $65 billion. so although the president wants some form of allegiance with e.u. and japan, does he want to put europe in the cross fires as well and go after the mix? that is the question for the e.u. >> how convenient. the euro peents want to see this does europe have a seat at the table? >> well, i thiz it's very poor for them to understand the president wants its lies, getting on the back of them and saying we have the same problems as the u.s as i said to you before, the problem for the europeans is for many years, seema, i've been going to the g 7, g 8 meetings, it hasn't just been against china and japan, it's been about the e.u. remember back to the navorro comments very early on in the president's administration he said the germans have a low currency rate. we have 1.22 on the euro dollar. if this were deutsch mark, it would be significant bely higher they feel it's boosting it >> that's a good point, steve. coming ahead of emmanuel macron and angela merkel both visiting washington in the c

president trump is considering $100 billion in new tariffs on chinese goods. china vowed overnight to retaliate at any cost. gary b. smith, fox news contributor is here. gary, let's talk about what the chinese minister is saying, quote, unquote, that this retaliation against china is unfair and that they're going to consider new measures. gary? can you hear me? >> i'm sorry. i thought you were going to play a clip there. >> oh, no. but i have one. stand by for that. go ahead. >> i think, cheryl, at this point i've heard some of your other commentators this morning. i can't disagree with anyone. i'm going to go with my gut feel on this. it sounds like typical trump s a aber rattling at this point. it wasn't just a few months ago, north korea was flying missiles over japan. now it looks like they're on the brink of sitting down and talking with each other. at that point, people thought oh, my gosh, he's escalating a war with north korea. they're going to be firing missiles at our allies and it's going to be world war iii and it turned out to be nothing like that

the big chinese smartphone maker. and how this ruling eviscerated the stock of acacia communications which is one of their largest suppliers. that's the tip of the iceberg. the federal communications commission voted unanimously to move forward with a plan that prevent federalized subsidized telco companies -- some major chinese players. it's not totally wound-sidone-s. the chinese ministry of commerce announced it has antitrust concerns about qualcomm's acquisiti acquisition. it's been approved by every other relevant antitrust agency on earth i think it's pretty transparent. an attempt to retaliate for the actions our government took earlier this week. from a legal perspective one of the most ridiculous things i have seen. from a geopolitical point it's a smart move they're showing they can hit us right where it hurts in the stock market as this ruling sent the stocks of call committee, nxp off 5%. wow. in short on the tech front the raid car is getting serious and we need to think what else could be vulnerable if t

the chinese -- the united states are going to unveil the tariffs on the chinese products. what products can we expect in the coming days? >> certainly, the focus of the tariffs are focused on the china 2025 industries. china, in my view, has brazenly released this china 2025 plan that basically told the rest of the world we are going to dominate every emerging industry of the future and therefore for your economies will not have any future. artificial intelligence, robotics, quantum computing -- all of those things. the section 301 on intellectual property theft and forced transfer is specifically designed to address those kinds of things. and i think the world should welcome that. europe is being hammered by the same thing, japan is getting hammered by the same thing. we are trying to add trade peace where we can have a regular free market system where we don't have to worry about things like that. >> can you give us any clarity on what we are expecting in terms of tariffs on chinese products or restrictions on chinese investments in the united states? >> the purpose of t

one more tourist attraction for chinese pilgrims. mark says not only been claimed by dubious state ideologies but is also a darling. merchandising but you have to wonder what the critical philosophy of really have been flattened. the worker becomes all the poorer the more wealthy produces the devaluation of the world a man is in direct proportion to the increasing value of the world of things. in an age of turbo capitalism high frequency trading and hedge funds some are wondering was karl marx right after all the documentary system era looks at the state of the world and probes our obsession with unlimited economic growth. in a book i wanted. to deserve a good a difficult. to office of all how much is enough to satisfy human capital is to learn is mentioned to do from is a verb it is what it is how does. this work of. growth at any price is that the new religion directive florian altered says film delves into the world of high finance meets global players and looks for the era in this ystem. of hard problem and very i ask myself why

the chinese, united states are going to unveil those tariffs on the chinese products. i want to understand which products. visit high-tech goods? is that what i can expect? >> certainly, the focus of the tariffs are on the china 2025 industries. china, in my view, has brazenly -- has brazenly released its china 2025 plan and told the rest of the world that they will dominate every emerging industry in the future, therefore your economies will not have a future. artificial intelligence, robotics, quantum computing. all of those things in section 301 on intellectual property, theft, and forced transfer is specifically designed to counter those things. europe is being hammered by the same things, so is japan. we are trying to have trade piece where we can have a regular free market system where we don't have to worry about things like that. >> can you give us any clarity on what we are expecting in terms of tariffs on chinese products or restrictions on chinese investment in the united states? >> the purpose of the whole thing is to try to curb the problems we have found

and positive on chinese equity markets. we have also been a bit more cautious in terms of how chinese equities, especially last year. we have taken a more cautious approach, especially sectors that have performed extremely well. in particular, the technology center. now we are concentrating on domestic consumption and looking a little bit away from the tier one big cities, beijing and shanghai, and moving into the second and third tier. nicelyd play out quite over the next few years. it is more a long-term strategy. not recoverede when it comes to some of these large caps in china. another letter that we got from were raisingthey the quota. could the stoxx overshadow all stocksod news -- overshadow all this good news? >> the have seen steps in this direction. the markets have to get used to it. using this stock connect to trade directly into mainland chinese stocks and vice versa. using this opportunity to go outside china. time, it takes maybe longer than anyone would have expected. china is clearly opening up its financia