so again, my impression of the wto resource for the wto and for the membership. so again, my impression of the wto, geneva is a beautiful city, the lake is gorgeous, but it takes a long time for things to get done. there is a lot of talk, a lot of discussion, but frankly not too much action so far in six months. so we're trying to get things moving along. >> i want to get to the appellate body issue which i snow -- >> what is the appellate body? [ laughter ] >> let's just move on. let's talk though -- before we get to that one, which -- i mean we all know he that we'll get in to the weeds here because that is what the wto does. deal with weeds. but let's start with the concept of wto reform more broadly. what are your -- when i say you, i mean the administration. what are your priorities for change and what are the possibilities of alluding to what you just said what are the possibilities of getting anything done before the next ministerial confidence? >> how long do we have? >> good question. >> to answer the question, this is the autumn of wto reform. you have

by the crisis at that wto? there are a number of sources of frustration outlined in my written territory -- testimony. first there is a lack of balance between the week negotiating arm of that wto with members have increased only one agreement on trade facilitation since 1995 compared to the very strong and some would say even too strong settlement arm of the wto or the executive part is viewed as highly competent, but lacking in the authority to drive any change. it is this lack of balance that appears to be the primary driver and the united states decision to block any process to reappoint members of the wto of people at body -- of pay at body -- appellate body. any new discussions have been blocked by the united states. secondly i will mention a recent willingness led by the united states to impose tariffs that violate the wto basic rule which will lead many to question to where if the major members will regularly flout the rules. i believe it is critical that the wto and the settlement system be fixed immed

if not, can we fix that with reforms to wto? if not, shall be pursue evicting china from the wto? these are all things that are being studied and considered. now let's brief you on some other business stories. this that's it for the business briefing this hour, but before we go, here are the markets. the dowjones the dow jones down the dowjones down 2.21%. the dow jones down 2.21%. do stay with us, we have got the news briefing coming up or you shortly. goodbye for now. survivors of terror attacks will travel to downing street today, to hand over a report that says victims are being let down by a crisis in mental health services. the survivors against terror says 270 people responded to its survey, with three—quarters claiming the mental health support they received was inadequate. 0ur correspondent lauren moss has all the details. terror attacks have killed, wounded and left many with permanent injuries. there is always a rush to save those caught up in the horror. afterwards, some of the scars that remain are not physical. 15—year—old natalie and her mother valerie were at

why the crisis at the wto? well, there are a number of sources of frustration outlined in my written testimony, i'll mention two. a lack of balance between the weak negotiating arm of wto, compared to the very strong, some would say even too strong dispute settlement arm of the wto. the executive part of it is viewed as highly competent, but lacking in the authority to drive any meaning change and it's this lack of balance that appears to be the primary driver for the united states' decision to block any process to reappoint members of the wto's appellate body so we're down to the bare minimum of three members on that body and any discussion how to put new members on the appellate body has been blocked by the united states. secondly, i'm mention a recent willingness, led by the united states, to impose tariffs that violate the wto's basic rules which lead many to question, what's the point of having a rules-based organization if its major members regularly flout those rules? so, i believe it's critical that the

behaviour and that the wto should be reformed. he spoke to my colleague. i acknowledge that members see the need for reform. all wto members live in glass houses, they all do things that push against the agreements and the solution to that this political compromise and negotiation, not necessarily trying to create a new rule for everything that comes along or complain about how the rules are not being applied. 0ne how the rules are not being applied. one of president trump's top economic advisers suggested this week that the wto, the organisation you work for, should it china. should it? —— should evict. you work for, should it china. should it? —— should evictlj you work for, should it china. should it? -- should evict. i think they are frustrated at the wto hasn't evolved as much as they would have liked. they are a big player at the wto, they do a lot of legwork, china is also very active in a different way. china has been, when they have had adverse findings through dispute settlement processes , through dispute settle

and also in goods and intellectual property, but the wto isa intellectual property, but the wto is a very slow body, so it will take some time before... a sense of new rules will be made in the wto that come close to what today the wto has reserved the european union as a whole. thank you forjoining us from brussels. eu trade policy expert, hugo paemen. let's take a look at some of the other stories making the news... japan airlines will introduce a new breathalyser system at overseas airports after one of its pilots was arrested at heathrow airport for being drunk. katsutoshi jitsukawa was arrested last month after a test showed he was over nine times the legal alcohol limit. the new measures also come after a series ofjapan airlines flights were delayed due to intoxicated pilots. the head of indian online fashion retailer myntra, ananth narayanan, has resigned. it comes just days after his group chief executive stepped down over claims of sexual assualt. myntra, which was bought by e—commerce group flipkart in 2014, could also see cuts to 500 jobs. facebook faces a new controvers

if not, can we fix that with reform to the wto? if not, should we pursue evicting china from the wto? these are all things being studied and considered. continued trade tensions with china and the us. let's catch up with a smart phone maker in india from china setting up stores in rural areas by the end of the year. let's go to by and we're joined areas by the end of the year. let's go to by and we'rejoined by areas by the end of the year. let's go to by and we're joined by sameer hashmi. they want to flood india with its smart phones? rico, it's already flooded in. if you look at the smart phone market, xiaomi is the smart phone market, xiaomi is the number one player in the market in the smartphone category and they've been consistent over the last two or three quarters. looking at the smart phone segment, 30% belongs to xiaomi in this highly competitive market but what's interesting is there going to open stores. xiaomi has always been an off—line driven business model, but they've realised in india, if you go deepin they've r

you havejust than wto rules is there, and option, but... you have just told than wto rules is there, and option, but... you havejust told me than wto rules is there, and option, but... you have just told me there is not a majority parliament. what is not a majority parliament. what is the point? the starting point is wto, £39 billion, that's how much the prime minister is willing to give to the european union. we ought to be able to negotiate a better deal and those people who don't want to leave out all their choice will be wto or a better deal. you know, regardless, wto or a better deal, she in her wisdom and with all of the support she has, she obviously has a bird's eye view and has accepted certain less than a cce pta ble accepted certain less than acceptable conditions from the european union but if you go into wto, companies like ourselves, we have tens of millions, close to about 100 million worth of plant and investment, there is no rice grown here, these mills were set up in the european union... you got your rice from india, afr

if not, can we fix that with reform to the wto? if not, should we pursue evicting china from the wto? i think these are all things that are being studied and considered. jane sydenham is back to look through some of the papers. 0ne one of the ones that court our attention, us glamour magazine is going online and it is interesting, glossy magazines, it was the premium models of magazines, you wanted to buy it, feel the adverts, look at the models but it is going online. uk glamour have been doing this for a year now, so they are following that model. you think it will be a success in america? as you say, it is the trend, it is what is happening. iam is the trend, it is what is happening. i am kind is the trend, it is what is happening. iam kind of is the trend, it is what is happening. i am kind of into camps, i like online, i find happening. i am kind of into camps, i like online, ifind it good for keeping absolutely up—to—date but, on the other hand, that random walk of just flicking through on the other hand, that random walk

global trade faces the worst crisis since 1947, the head of the wto tells the bbc. that's one of the dark clouds looming over the world economy, as leaders gather for the 620 summit. and on the markets, a mixed day on wall street — and very much the same picture in asia, as investors get some mixed messages about the trade showdown between president trump and president xi. will it be the end of the trade war, or the start of a new escalation in hostilities? we start in the argentine capital buenos aires, where world leaders gathering for the 620 summit —— we start in the argentine capital buenos aires, where world leaders gathering for the 620 summit are being warned that ‘darker clouds are looming' over the global economy. the head of the international monetary fund, christine lagarde, says ‘significant risks are materializing' and is urging leaders to work together to head them off. the 620 group of developed and developing countries represent 85% of the world economy, and two thirds of the world's population. many of them are seeing slowing economic gro

the director general of the wto tells cnbc china's approach to negotiations is encouraging. >> i think it was very much welcome by the international community. i certainly saw it as a very positive speech in the context that we're living today. >>> british banks are the surprise under performers in the europe wide stress test, but the italian lenders feel the pressure as two of them trade in the red despite passing their health checks. >>> the republicans and democrats hold a final flurry of campaign rallies as polls suggest that polls will outstrip previous mid term elections. >> this is one of the most important elections of our lifetime this is a very important election i wouldn't say it's as important as '16, but it's right up there. it's right up there. it really is >> and iran goes to defy u.s. sanctions by continuing to sell its oil calling the measures psychological war as washington speaks with eight major crude importers. >>> happy monday, everybody. "street signs" is back let's check in on how markets have been doing over the last 48 hours or so. starting off with what was a

in business: global trade faces the worst crisis since 1947, the head of the wto tells the bbc. a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. and you can be part of the conversation: a diet of soups and shakes that can reverse type 2 diabetes is to be trialled in england. 5,000 people will take on this ultra low calorie diet for three months. could you restrict your intake in an attempt to battle diabetes? tell us what you think. the stakes are high as world leaders prepare to sit down in buenos aires for the first 620 summit to take place in south america. they're expected to discuss the trade war between the united states and china but also issues like russia's seizure of ukrainian ships and sailors near crimea. the incident has already prompted donald trump to cancel a planned meeting with vladimir putin. from argentina, here's our diplomatic correspondent, james landale. throughout the day and night they arrived. more than 20 world leaders gather in the supposedly agree new plans to improve global trade and protect

the wto. also the wto and the previous administration was already unhappy about the wto. it was not appointing judges to the court of the wto. why not reforming the wto. we are ready to work with the u.s. to reforming the kentucky. so, again, there are -- really, again, there is this very special unique relationship between the two powers but on the european side we are ready on some issues to work with the u.s. >> thank you. enlightening as always. i will try to call on as many people as i can. let me remind you, though, that you need to ask questions. questions are short statements that would be punctuated by a question mark at the end. so please no statements or long comments. identify yourself briefly and we have microphones. yes, so wait for the microphone. this young man here in the front. >> i'm sorry, probably you all look young to me. >> i was wondering what's your take on the [ inaudible ] -- should the european union say on it if the u.s. [ inaudible ] -- [ inaudible question ] >> you know, under the iran deal we have a fundamental political disagreements -- di

the wto, and the previous administration was already unhappy about the wto. it was not appointing judges to the court on the wto. why not reform the wto? we are ready to work with the us to reform the wto. again, there is this very special unique relationship between the two powers but on the other side we are already as i said on -- on some's issues -- issues to work on the west. >> thank you, and lightning as always. i try to call in as many people as i can. let me remind you though that you need to ask questions. the questions are short statements that would be punctuated by a question mark. please note -- no statements or long comments. identify yourself briefly. we have microphones. wait for the microphone. this young man -- i'm sorry probably you will look young to be -- me. >> i was wondering what is your take on [ indiscernible ]. >> on the deal we have a fundamental political disagreement with the united states. it's fundamental. it is not a question of business , it's a question of we have to agree. we consider that the decision of the us to get out

for your goods than they do for other goods that they also trade with countries on wto terms. we know the maximum tariff that the eu can charge against us on averages 4%. the exchange rate has been 15% since we have the referendum, so our exporters are better off even if we have to get out. i'd rather have no tariffs, but if we go to tariffs, we will be better off overall. that you are saying that if you're able to, you would be adding to the list of 22 letters at the moment, we need to get the 48? 22 have declared... i certainly didn't make it public when i wrote a letter. other people have not made a public. timing wise, is this not a strategically poor time to play this kind of political game? because essentially, it means you are willing to wreck the conservative party? because that's what would happen. conservative party? because that's what would happenlj conservative party? because that's what would happen. i don't think it would wreck the conservative party, i think it is a bad time, but so is any time. the reason i have been discouraging people is unnecessary, but now

can the g20 as a whole develop a common statement around trade and the future of the wto? that also is critical. , the asia-pacific economic cooperation forum, that there was not an agreement for the first time in the 29-year history. the g20 has an essential role to play to say that there is a future for the world trade organization and that needs to include looking at the things in the wto that work like innovation, protection of intellectual property. we need that strong reaffirmation of the system to set the stage for the longer term discussions between the united states and china and other countries. as these longer term discussions may or may not happen, i think we have agreed that the best case scenario is that we get a framework for more discussions to come. the imf is warning the world economy may already be slowing more than what we know. is there already damage being done and that will continue to be done in terms of loss of investment confidence by companies, in terms of a diversion and chaos when it comes to supply chain? all of that goes on while the u.s. and

you start with the wto. we have a quote from bill clinton. he says it will be a two way street. that.just talk about >> the session process was long. it was dragged out. the motivation from the west was very much that he was a country that potentially would be the largest market in the world and the, by bringing china into world trade organization, the rule of law would start to develop in china. there would be a convergence of economic laws and multinationals would be able to capture and theire in china relationship would become more balanced and mutually beneficial. the point that the book makes is that that has not happened and that it has failed. there was a lot of naivety going on among western leaders at the time that was hubris after the collapse of the soviet union. there is general belief that anyone given the choice would move toward free-market liberal norms. this was a gross miscalculation at the time. combinationhat, the of the deflation retread policy, letting 650 million low-cost workers in to global trading -- rishaad: that is what we are suffering now. it.e are

today it is talking about evicting china from the wto. how absurd is that? there are expectations that when the presidents meet at the g20 next week in argentina perhaps there'll be some sort of breakthrough on this trade war. but one economist is suggesting we don't hold our breath. i think time is going to retaliate at any provocation from the us at every turn. physically the us keeps frustrating china with more tariffs if china does not respond to us demands. but what is us demand is not really about the trade deficit with china, but is more related to the perceived market distorting and unfair technology practices of china, but first and foremost china is very likely to directly admit to any wrongdoing and technical —— and secondly technology is such a key pa rt of secondly technology is such a key part of china's long—term strategic plan— the made in china 2025 campaign. china is very likely to get into... as a result they will retaliate at every turn. next — zimbabwe — where president emmerson mnangagwa has presented his first budget. here'

it has been a long time since the wto was formed. there is now increasing fresher and urgency that canada thinks it has a constructive role with some creative ideas to establish a frame of conversation, and that is exactly what has happened so for and will continue in the future. haslinda: is a crisis looming, judges have yet to be appointed because the u.s. has been standing in the way. jim: if you have a backlog that is deepening and cases cannot be solved, then the credibility of the organization is in question. that's why we are moving as quickly as we can to put us in a better spot. haslinda: the u.s. has trained to pull out of the wto. what is the risk of the u.s. taking such an action? jim: the united states is essential to establishing a rules-based order or reforming the current one. many of the points of view of the united states are credible and are being debated, and we want them to be very much involved. if it takes a little bit longer to get them involved in ways that are meaningful, that is fine. as always, you have th

this was part of china's wto agreement that they were supposed to open up electronic payments. i remember at the beginning of the olympics in 2008, i was the guest of one of those american companies. they thought they were about to get into china to do electronic payments. here we are 10 years later. we are still talking about it. nobody is doing it. i think it is a good example. it is a heavily regulated sector everywhere. the question is, the chinese really opening it up in a way that american companies other international companies can benefit? mentioned, that is encouraging. i have not given up hope. we have to be careful. sometimes you get something on paper but when you get to implementation, it is actually a lot harder. david: let's talk about what happens over the next 30 days or so. we heard yesterday secretary mnuchin is talking with the vice premier over there and president trump apparently will be meeting in connection xi with the g20 coming up at the end of the month. what do you expect? where is the more likely path of construction engagement? the chinese think th

so those who say, look, just trade under wto rules, this is a lot of fuss being made... they don't quite understand the infrastructure. the pipes, over decades, have been built on the basis of a free trade area with europe. so when you say, suddenly trade under wto rules, you'll find you are missing quite a few pipes. do you think the british people should be worried about the direction that is being pursued? i think, short—term, yes. i think, long—term, it's an open question. and i think a lot of people will be shocked by me saying that. but there was a fundamental problem from day one between the uk and europe. for europe, this whole integration issue is beyond economics. it's a marriage, it's holistic — ever—closer union. for the uk, it was more like dating. let's have a free trade zone, but don't bring in all this other stuff. i don't want this ever—closer union, i just want a date. and long—term, these are two fundamentally different visions, so we were going to have a clash at some point. so if you can deal with thejourney, which is treaty, very tricky,

i would say it is the worst crisis, not for the wto but for the whole multilateral trading system since 1910. this is the moment when some very basic principles of the organisation — principles of cooperation, principles of non—discrimination — are being challenged and put into question. that is very serious. what i think is that we cannot ignore those concerns. you have to talk about them and you have to see whether there are ways of addressing those concerns that are acceptable to all wto members. the 627 is happening before a bilateral meeting between donald trump and xi jinping. everyone is waiting for a deal between china and the united states. so can we expect anything relevant to come out of the 620 meeting before the two leaders meet? the most important thing right now is to ensure the kind of conversation exists between the two sides shifts in terms of mode of engagement. it has to shift from a mode of threats and accusations, finger—pointing, to one of finding solutions. i think both sides understand what their concerns are. we already know what is bothering the two si

. >> basically they'll stall, steal more technology, they'll commit more wto violations this is not good for us. what we need to do is just put on costs until they stop it. >> if people in the administration have your view, and we have to assume that navarro and others probably do, why even try to make a deal? what's the point if you're going to make a deal and you think the other size will break it or get around t where is the incentive >> precisely >> then you don't do anything. >> we do things. we pile the costs on china so that at some point they decide it's no longer worth it. they're taking hundreds of billions of dollars of u.s. intellectual property every year that means our costs on them have got to be hundreds of billions of dollars. when that happens, they'll stop. before that, they won't. >> do you think this tariff strategy then is a good one? >> tariffs, i don't think will do it. i think we'll probably have to go to something more like banning the products that benefit from the theft of intellectual property. i think trump's general strategy is to disengage the two economie

so when you say suddenly trade under wto rules, you'll find you are missing quite a few pipes. do you think the british people should be worried about the direction that is being pursued? i think should, then yes. i think long—term, being pursued? i think should, then yes. ithink long—term, it being pursued? i think should, then yes. i think long—term, it is an open question. and i think a lot of people will be shocked by me saying that. but there was a fundamental problem from day one between the uk and europe. for europe, this whole integration issue is beyond economics. it is a marriage, it is holistic. the closer union. for the uk, it was more like dating. —— ever closer union. let's have a free trade zone but don't bring in all this other stuff, i don't want this ever closer union, ijust this other stuff, i don't want this ever closer union, i just want a date. and long—term, these are two mark fundamentally different visions. so we were going to have a clash at some point. so if you can deal with the journey, which clash at some point. so if you can deal with

reporter: let's start with the wto news. the u.s. oblivion reforms for the wto to crack down on china related to their state-sponsored dumping of steel and other items close the forced transfer of technology from firms. now china say they will propose their own reforms of the wto. china going forward at a luncheon in paris adding that they would not be in what they call, quote, put in a straitjacket by these reforms are the wto. in 45 minutes at the white house, vice president mike pence will meet donald trump for a working lunch. the vice president talking about china again on the agenda appeared his fresh off his trip. the asia-pacific economic cooperation summit. the vice president was there with president xi, the president of china. they could not come up with a consensus because of the positions of the united states and china over trade. china saying that their statement is coming out saying, quote, it seems like the u.s. attended this apec meeting with great anger. ditto for my cause controversy, created discord, spoil the atmo

he was involved in setting up the wto rules. successfully with them, our single largest trading partner is the united states of america and there are many in my constituency who say we trade very successfully with america and others in the wto. of course we will make changes and adapt ourselves to changing circumstances in terms of trading with the european union if we go to wto terms. it's not something we should be frightened of. there will be changes and uncertainty in the short and medium term. but we are trying to do what the british electorate voted for. regain our sovereignty and start negotiating with the european union to the sort of relationship we want. one based on mutual trust, trying to ensure that there is a free movement of goods and services but there are two separate entities rather than beng shackled as we are to to the eu supranational structure. i had another resignation today from a colleague that both of us respect greatly who was a junior in northern ireland. he himself is somebody who has worked in north

president trump has been talking about, is it free trade when there's clear evidence of unfair and wto illegal trading practices by china for several decades? is that fair? is that free? is it free when intellectual property theft occurs or when chinese ownership of american companies force transference of technology from american companies to the chinese companies? is that fair? or high tariffs on agriculture and industrial supplies, is that fair. so president trump is the first president in, i don't know, at least 20 years and i'm including democrats and republicans, who not only has made this case but continues to make this case forcefully and to take actions to defend american workers and our overall economy. other presidents in both parties have raised the issue and then walked away from it. and president trump obviously doesn't intend to. you know, this is under the heading i think for him of promises made, promises kept. it's something he's talked about for several years and he now continues. if china will come to the table or, in this case, the dinner table, with some new ideas

the bigger problems at the wto is not set up to deal with tech theft. but the idea that negotiations don't work and somehow somehow this ham-handed approach to china is going to yield terrific results. the idea that somehow everybody who came before president trump was an idiot, but he's a genius is somebody that defies -- >> i'm not saying whatever we did didn't work. live this every day. i get a hot product on private company, i invest in, it starts getting market share -- 48 hours later i find a knock-off on alibaba, made in a chinese plant. i'm pissed >> i agree it's an issue however it's a multitrillion-dollar relationship a relationship, kevin, that -- >> cry me a river. it's time to fix it. >> don't cry me a river. it's a relationship that has enriched people on both sides of the trade. that's why it's happening. >> but it's continuing to do so with unfair trade practices in mind. >> the wto says they're stealing, what are you talking about? >> i agree. >> the answer was tpp and he threw it out because it was the other guy's policy >> define the

we've racked up $4.5 trillion in trade deficits with china since they entered the wto. that's the wto, which other than nafta is probably the worst trade deal any country has ever entered, and we entered it, and that's what built china into the power, but now we are the big power. we are far more powerful, and that's the way we are going to keep it. [applause] we had an annual trade deficit -- >> usa. usa. usa. pres. trump: we had an annual trade deficit -- listen to this. who made these deals? who made them? almost $800 billion the gear we billion a year we lose. we are stopping that. we just made a great new deal with canada, with mexico. but of course, they have to treat us fairly. otherwise we just tax their product when it comes in. you know that, you know what i'm talking about. entire nations were revealed at the expense of america's middle -- entire nations were rebuilt at the expense of america's middle class, and frankly, at the expense of america's business. this massive transfer of wealth represented the greatest jobs theft in the history of the world. and y

ambassador to the wto here. he was talking a couple weeks ago about the fact that there is no middle of the road anymore. you have to pick a lien. you pick china or pick united states. i think the combination of all that will raise real concerns and questions in the region. and undermine what i think the administration is sensibly trying to do in signaling through the free and open pacific that there is a commitment to this region. >> in terms of picking sides, president xi is not only going to apec, but he will be holding a meeting with other pacific island nation leaders which i think will get a lot of attention. and then he is going out to the philippines for a state visit. at a time when we are asking countries to choose, president xi is going with his bag of goodies to the philippines and we are not showing up. >> that is an important amplifying comment. the vice president isn't going to talk about trade. or not very much. in asia, economics is security. if you're not playing on the trade issue, not playing

we have been proposing reforms to the wto system. we share the views that it is not working well enough. we work with our u.s. and chinese counterparts, and see that many countries are coming on board to make our system work better. becausea key priority, still increasing tariffs make -- put businesses in a difficult situation. solving problems is the way forward. see it is interesting to what is transpiring, because increasingly antitrust we see this ind the united states and europe, are being used as weapons in this global trade war. is that a situation you are comfortable with? margrethe: that cannot be the case. antitrust is about the evidence of the case, the fact of the case, and behavior of the company. standard is always that are cases will have to stand up in court. we cannot let ourselves be kidnapped by one court -- one cause or another caused by one side or the other of the aisle. we serve the european consumers so they have the benefit of competition. this is important for any business, no matter what they are -- no matt

the wto will determine whether china's trade policies violate international rules. the european union is stepping up its budget dispute with italy. rome'snomy chief says rider behavior threatens them. he says the plan will only increase debt. the e.u. is taking the first step towards disciplining italy for breaking the budget rules. >> one that is capable of reducing debt is way too high. we received no answer. that is why we are persisting. undoubtedly there is a very serious deviation to our rules, which is bad for italy. it has to be corrected one way or another. jenna: saudi arabian oil production surged to a record 11 million barrels per day this month as demand climbed and supplies from huron were bishop -- iran were disrupted. opec is bracing for a bigger challenge from the u.s. next expected tooducers raise output even further. newle is to roll out policies in europe to offer more transparency around political ads. the announcement follows a year of scrutiny over how internet platforms were used to spread misinformation during elections. about whodisclosure

i would say it's the worst crisis not for the wto but for the whole multilateral trading system since 1947. this multilateral trading system since 19117. this is the moment when some very basic principles of the organisation, principles of cooperation, principles of nondiscrimination, are being challenged. the bbc‘s michelle fleury annemarie koori cup me earlier why this meeting is so crucial to america, china and asia as a whole —— and mariko oi. the administration has made a point of saying the relationship with trading with china is unfair. there are unhappy with this. you mix that with the message trump delivered during the election campaign and since he came to office, he promised to revive manufacturing and to stand up to revive manufacturing and to stand upfor to revive manufacturing and to stand up for american businesses —— they are unhappy. he's lucky, the timing comes when the us economy is doing well. 6dp comes when the us economy is doing well. gdp is doing well. he can afford to take on a battle. he has got the support of republicans and many blue—collar work

zero tariffs and zero nontariff barriers and zero subsidies, if china plays by the rules, even the wto rules and all that needs reforming an judgment -- in our judgment, if we do have a willtrading system, we benefit enormously, and frankly, we will benefits, they will benefit, and the rest of the world will benefit. throws off enormous benefits when it is done properly and consistently and in a reciprocal manner. that is the key point. possibly a long rainbow and at the end of that rainbow is the pot of gold. you havethat pot, prosperity for the rest of the world but you have got to get through that long rainbow. we are not there yet. we could get there. but we will see how that works. thank you. low oilyou mentioned and gas prices as evidence that the president's economic policy is working. the u.s. becoming the global dominant energy player. but a few days ago, the president said it was necessary to allow the saudi prince to get away with murdering the saudi journalist -- now which one is it? >> i will let ambassador bolton handle that question. i am trying so hard to swim in my own

they have tried to a different spanners into the works, talk about wto membership, talk a but donald trump does have a knack for flying membership, talk a but donald trump does have a knack forflying in membership, talk a but donald trump does have a knack for flying in and tried to play the hero and tell you what he can do that only us can do. so who knows, maybe as a matter. we shall watch a space. simple, boss of apple, saying fresh tech regulation is inevitable. you agree with him? choosi agri— the building more and more regular —ish on applied to technology industries. i absolutely thatis technology industries. i absolutely that is the case. the respective fa ke that is the case. the respective fake with respect to technologies in elections, there needs to be up there electoral policy regulations and advertising, for example, but it is all related to the influence of technology. citing what can cook is saying is correct. absolutely there will be more regulation. what way shape orform will be more regulation. what way shape or form that takes, the degree to which it happens,

but falling onto wto rules and alongside a fairly huge increase in inflation, means that the outward looking parts of the uk economy will be hit very, very hard. let's move swiftly on, is the standard mac in india talks about a story, the fact that softbank is going to list on the tokyo stock exchange and this company is in the news all the time, andi company is in the news all the time, and i really want to dig deeper into this company at some point when i have more than four minutes to talk about it and i am fascinated by the founder of softbank, when it bought arm holdings for example, which was one of our crown jewels here in the uk, it's not that up, its tentacles reaching everywhere. yeah, it started out, it is ostensibly a mobile phone provider network, but they have huge, huge investments in so many companies that you have heard of. and countries. yeah, and countries as well. boston dynamix, for example, you may have seen their videos of robots running upstairs and stuff like that, they have a it stating that. 15% of uber, sprint, the mobile network there, they have turned fr

than wto terms with the european union. >> the prime minister said school funding is up, and it is. but pupil numbers are up. costs are up. the institute for fiscal studies says that since 2010 there has been 8% real term per pupil cut. how can the prime minister expect anybody to trust her on anything when she can't get her numbers right? >> can i say to the honorable lady, as i have said before in this chamber, overall, per pupil funding is being protected in real terms by this government. the core schools budget this year at 42 billion pounds will be its highest ever level. we are protecting through the pupil premium this year. we are giving 2.4 billion to support those who need it most. the core cost is rising 2.6 billion this year to the next. what we have also done is introduced a fair and national funding formula, which ensures we see a fairer distribution of that money across the country. mr. speaker would my right , honorable friend a firm to this house today and to the president of the commission tonight that as we move to honor the result of the referendum, it will remain

and we can go to wto rules because that is what most other countries in the developed world operate under. it would not billions of pounds of gdp, and people in this room... it is not true as richard has employed a moment ago that the alternative is no—del. has employed a moment ago that the alternative is no-del. no-del is not going to pass parliament because mps of all colours understand that it would be disastrous for our voters in every constituency to go down that route. article 50 can be revoked, the man you wrote it said so, so it is not clear that he would leave next march, we can extend the deadline and go one step further and we good revoked article 50 and have another vote. anne-marie morris thank you very much for your time this morning. thank you for talking to voters. no other government will be able to get a better deal, so please, please me when added to the future together, this text says, another says, no—del is best deal. philip says that even though brexit extremists are realising that brexit is the impossible dream. another says we should back theresa may's deal b

the oecd did this, the wto secretary did this. the world bank has done this. these are exercises that are attempt to identify trade restrictive practices in the interest of greater transparency and in the interest of hopefully eventually leading to negotiations in various fora that will tend attempt to put -- that will attempt to put some limits on the practices. aipac is doing this is good. if they can get agreement to put it up publicly that would be even better. there's a long way from that to actually accomplish something in terms of eliminating some of these practices, but i think what apec has been good at over the years is successions of small steps that eventually to something,ly lead to and i think this would be a good example of that. you'll also see the standard rhetoric that comes out of every one of these things about regional integration as importance of the free trade agreement for the asia-pacific. this has been a goal for 20 years at least. i suspect, i rather think we're not much closer now than we were in the beginning. i think it's useful t

we racked up $4.5 trillion in trade deficits with china since they entered the wto, that the wto, which other than nafta is probably the worst trade deal in any country has ever entered and we entered it and that's what built china into the power, but now we are the big power, we are far more powerful and that's the way we are going to keep it. we had an annual trade deficit. [chanting "usa"] >> president trump: we had an annual trade deficit, listen to this, who made these deals? who made them? almost $800 billion a year we lose on trade, we are stopping that, we are turning that, we just made a great new deal with canada, with mexico, but of course they have to treat us fairly, otherwise we will just tax their product when it comes to us, you know that. you know that. you know that. you know what i'm talking about. entire nations were built at the expense of america's middle class and frankly at the expense of america's business. this massive transfer of wealth represented the greatest jobs theft in the history of the world. greatest jobs theft and i don't blame china and i don't blam

is it free trade when there is clear evidence of unfair and wto illegal trading practices by china for several decades? is that fair? is that free? is it free when intellectual property theft occurs or when chinese ownership from american companies force transference of technology? is that fair? or high tariffs on agricultural or technological supplies. is that fair? president trump is the first president in i don't know, at least 20 years and i'm including democrats and republicans, who not only made this case, but continues to make this case and take actions to defend american workers and our overall economy. other presidents in both parties have raised the issue and then walked away from it. president trump obviously doesn't intend to. this is under the heading i think for him of promises made, promises kept. if china comes to the table or in this case the dinner table with new attitudes and cooperation as the president said, there is a good possibility they can make a deal. he is open to it. nothing is written in cement or stone. but again, for a free trader, where is the free trad

saying it was an issue that should be addressed at the wto. this is mike pence in the chinese president exchanged jobs in remarks on saturday. with xi jinping criticizing the trump administration america first policies and is a quote - the u.s. will not change course until china changes its ways. the vice president referring to the $250 billion worth of tariffs from the u.s. against chinese goods earlier this year.reiterating the u.s. position that president trump believes america has been repeatedly taken advantage of by china. take a listen. >> will great respect for present xi jinping and great respect for china. but in the president's words, china has taken advantage of the united states for many many years. and those days are over. reporter: now the present and chinese president xi jinping are scheduled to meet on the sidelines of the g 20 summit in argentina later this month. the event could lead to solutions and a growing trade war between china and the united states. jon: thank you. >>> the u.s. conference of catholic bishops was going

. >> the suspect's vehicle tried wto make its between vehicles that were stopped for red lights and ended up becoming disabled themselves. >> police made a shockin discovery in that getaway car. a child was in the backseat unharmed. the women face multiple charges including child endangerment. >> a wegmans grocery store will be built in the district, city ridg hat's on wisconsin avenue in northwest. a lot of people call it cathedral heights already. along with the wegmans, office space, hotel, health club and artments and condos. >> it'se a lit north. >> own it. >> something w. >> i just want to make sure there's something good to eat. i can't wait to shop there, that's forsure. >> an nbc news investigation uncovered troubling news certain breast implants. >> it's believed there's a link between those implants and a ncer.form of nearly half a million american women have breast implants approved by the food and dadg nistration but nbc news uncovered evidence that some implants could be linked to a certain type of lipoma. one woman learned this after she had heranim moved. >> it was full of

back to the table means reforming the wto. that means that china needs to give a little. >> would call upon china to show leadership and to engage with us to reform and update the system. >> another appeal for compromise in a growing conflict. >> italy is playing it off and it is on a collision course with the european union. there refusing to adjust their budget plans. the eu said that the debt pile is the second-highest in the eurozone. many schools feel they have been left out of the equation and they have taken to the streets in protest. >> the messages on the banners read our schools are falling apart and we are history. the italian education system is ailing. many school administrations and students are fed up. >> what we are currently seeing is the continuation of the spending measures of the past. in the budget log written in black-and-white, it is a series of spending cuts. thousands have, to air their displeasure with the government. investments in education continues to fall by the wayside in spite of the government

i remember vividly the arguments made by china when they came into the wto that by bringing it into the wto, international norms would pressure chinese behavior, that things would change, and they would become a more market-oriented, rules-based society. instead for more than 20 years, they have continued to steal our technological property, engaged in transfers, discriminate it against foreign trade investment . and donald trump called them on it and said, you are not going to get away with it anymore. for all the other disagreements we have with europe on some of these economic issues, they feel the same pain from chinese behavior on ip and technology transfer and the rest. our assessment is that china is amazed at what the trump administration has done. what are these people doing? we aren't getting away with it anymore, that's not in our game plan here. we are looking through the pages and they are not supposed to do this. they are supposed to sit back and take it. i think it has caused a lot of hurt feelings, as dan said, inside china, that we are not a well bred doormat anymore, a

we racked up $4.5 trillion in trade deficits with china since they entered the wto, that is the wto, which other than nafta is probably the worst trade deal in any country has ever entered and we entered it and that's what built china into the power, but now we are the big power, we are far more powerful and that's the way we are going to keep it. we had an annual trade deficit. [chanting "usa"] >> president trump: we had an annual trade deficit, listen to this, who made these deals? who made them? almost $800 billion a year we lose on trade, we are stopping that, we are turning that, we just made a great new deal with canada, with mexico, but of course, they have to treat us fairly, otherwise we will just tax their product when it comes to us, you know that. you know that. you know that. you know what i'm talking about. entire nations were built at the expense of america's middle class and frankly at the expense of america's business. this massive transfer of wealthp represented the greatest jobs theft in the history of the world. greatest jobs theft and i don't blame china and i do

would promote free trade zones, wto rules and reforms and. he said this himself? why can't we use this as a blueprint? >> he always said those things, charles. go back to the first year when he was general secretary of the communist party. they held the third plenum in december of the year following he took over, they said all the great things about market being decisive force in the chinese economy. unfortunately xi xinping believes in a state-dominated economy and they're stealing more u.s. ip since middle of last year. he says those things. he never means them. charles: i'm getting a wrap. very quickly as we go to break, he says he is the one who is carrying the flag for globalism and free markets s that somewhat ironic or what? >> it is. charles: he against protectionism. >> yeah. charles: gordon, thank you very much. as blake mentioned the other big headline out of the g20, president trump canceling the planned meeting with president vladmir putin of russia. we have a panel experts that weigh in on that. a bipartisan group of senators moving forward with legi