the main attraction for chinese tourists in sihanoukville the casinos. gambling is a favorite pastime for many chinese but it's illegal in mainland china here however casinos are springing up like mushrooms. alongside luxury apartment blocks at prices ordinary composed ians could never afford. by any measure cambodia is a poor country but its economy is growing fast and largely that's due to the massive amount of chinese investment pouring in and much of that money goes into construction projects like the one you can see here by the end of last year chinese construction contracts in cambodia were worth some seventeen billion dollars and that's almost as much as the country's g.d.p. itself. the influx of chinese money is a blessing for those who managed to land a job here they can earn two to three times as much as others. i know and he's rich now but at least i'm no longer poor. i used to not have any savings at all now i have some money at home maybe one or two thousand dollars things have definitely improved compared to when we were poor. we have about

the chinese community in egypt has grown to more than ten thousand. this is the story of the chinese who came to study work and opened businesses here. and who have discovered an affinity for the life and culture of the most populous arab country. to lead you to listen you know. it's a. home that in. that fashion on. the walk. you sing and i cherish the hope. you would. go. on in the shoes you. are sure. on. through the for that. well don't. easy your. eyes the organizers. starting in one nine hundred fifty four egypt was one of the first countries to establish diplomatic and economic relations with the people's republic of china. in one thousand nine hundred five china and egypt signed a trade agreement that boosted business relations. cheap goods and services flowed from china into egyptian markets. by two thousand and two china had become egypt's six largest trading partner. a day that relationship has grown further and china is now egypt's second largest trading partner. but on a much smaller individual scale bean and her brother want change seize

bryan bender what type would this gentleman and the chinese government have acquired? >> this case did go through. the assets were sold to this company called avatar which is backed by chinese individuals up until now was mostly a steel business and that company was a leading designer of microchips from electronics to missiles to computers so here is an example the chinese company clearly had ties and it shows how much we don't know for how much they oh this american company. and that was something that set off some alarms for those people that watch this space how come i never thought of this? so one of the bills going through congress does have language that would empower cfius and urge them to put more resources to figure out if there are more cases like this they should be paying attention to. >>host: how is cfius funded cory bennett? >> traditionally it has been funded in the ad hoc manner that is part of their challenge their earning one -- nine agencies to bring their resources and personnel to bear and they are not necessarily able to tell other agencies can yo

countries and chinese companies. we definitely don't want to see that happen because it is in this proposition. david: have you started to bake that into your models? i was starting to see it creep into earnings estimates? we are not doing that worst-case an area yet. i think we will probably not go there. pulp -- politicians will probably be pragmatic. worries aboutave their own countries. relativelying a optimistic view as to the conclusion for the eventual outcome of these negotiations. haidi: what would make you turn more bearish? i think is the big countries such as the u.s. and china would go to the extreme and just caught off trade -- cut off trade with each other because they're not happy with the demands -- if they want to an extreme situation where they would lose out and they don't care and we go completely local rather than global, that could be a situation where i would be worried. haidi: thank you so much for joining us. that was edison. coming up, this airline ceo gives bloomberg's first tv interview s

permissible to the chinese government. to try to make them more permissible to the chinese governmentm to try to make them more permissible to the chinese government. it might be good news for facebook stock when the us stock market opens today, and of course they will be reporting earnings numbers for the second quarter. thank you so much for joining us. leaders of the top emerging economies are meeting in johannesburg over the next three days. the threat of growing tensions are topping the agenda. leaders of brazil, russia, india, china, south africa, known as brics, say they wa nt to africa, known as brics, say they want to step up corporation. for china and india close relations with india is increasingly important. 0ur correspondent explains. the indian prime minister says this is important to get a toehold in the emergencies. due to the proximity the eastern part accounts for almost half of india's exports to africa and that is why the indian prime minister is eager to cement business partnerships here. for years the

imposes duties on billions of dollars in chinese imports. also coming up authorities now saying the time is running out for twelve boys trapped inside of its ha ha dropping oxygen levels and worsening weather mean that the rescuers may have just things not months to get the boys out. and the world cup quarter finals kick off today and we are going to europe wide where an entire country is gearing up for their match against frowns expectations are high as is the nation's footballing pedigree and it's question for the game. i'm sorry kelly welcome to the program china has taken its first shots against u.s. goods and what it calls the largest trade war in economic history this after the u.s. went ahead and did what it said it would do introducing its threatened tariffs on chinese imports the u.s. levies affects some eight hundred chinese products we're talking cars planes hard drives to the tune of thirty four billion dollars meanwhile china's retaliatory tariffs are likely to target u.s. agricultural products. such as soybeans and pork and the

imposed duties on billions of dollars in chinese imports also coming out. authorities say time is running out for twelve boys trapped inside a thai cave more rain is coming and rescuers occleve to act fast. but the world cup quarter finals kick off today will take you to oregon where i wear an entire country is curing up their match against friends expectations are high as it is passion for the game. and. i'm sara harman welcome to the show it's good to have you with us china has taken its first shots against u.s. goods and what it calls quote the largest trade war in economic history beijing has responded immediately to new u.s. tariffs by imposing its own and says they're already in effect the u.s. levies affects some eight hundred chinese products we're talking cars planes hard drives to the tune of about thirty four billion u.s. dollars meanwhile china is for talent or tariffs target u.s. agricultural products like soybeans and the chinese are turning their response into a propaganda victory. ever since u.s. president donald trump first announced tariff

for a long time to to to negotiate to his chinese government about chinese political prisoners on the loose shuster it is a positive. some tint you know part of a possibly be a sign for this kind of international effort now mr i way you yourself have also been under house arrest and you fast and almost eight years in captivity and she was never charged with a crime as you just alluded to what's it like to be and captivity for so long i think anybody including such a tyrant. under this kind of our you'll feel powerless you know feel your nobody and they you feel your rights are totally missed. you know this is a very horrifying situation nobody can help you why do you think that the chinese government considered her a threat. i don't think chinese government i wrote consider him her right but they would always say maybe it. gave us some kind. calls for. the whole no notion toward rediscuss helpless case so i said because this is what they really avoid to undo but to day they cannot just hold her for. and there's this kind of conditions is absolutely a local situation and that was the e

president threatens to slap judi's on everything chinese it's. and will break said spell a black day for britain's iconic black cab. and then fizzle and let's do business. the u.s. went ahead and did what it said it would introducing its levies on chinese imports that china says it's already responded with a trade measures on american goods the u.s. levies affect hundreds of chinese products cars planes and hard drives to the tune of thirty four billion dollars another sixteen billion worth in the next couple weeks that amounts to fifty billion in all that while china matches those tariffs u.s. president donald trump has said he may really turn up the heating creasing those tariffs from fifty billion to five hundred billion dollars worth of chinese imports that's roughly the total amount of u.s. imports from china last year. that's police in adolescence and rita now they got to talk about this. let's start with the effect of today's tariffs i guess any effect the marginal correct me if i'm wrong yes that is correct it is their estimates are that

the bankruptcy court came a chinese-american who wanted to make a bid for those assets. it turned out if you peel back several layers the company that he was working for was owned by a chinese national, steel magnate in china. that was a case where is not that difficult if you did your research to figure out there's a connection here potentially but that was the case that never got raised a cfius at all because they never looked at bankruptcy court but that's another example of a new means by which a foreign player could come in and the bankruptcy judge is not aware does not do the research and there's no way they can know who owns a company who is the party behind it. that is the case in a lot of examples where the first look is not an easy way to figure out who really is behind us and where does the money come from. who are these investors and that requires, like i said, due diligence and almost reporting investigation and that is something that cbs has had to do more of but does not have the people to do. >> host: bryan bender, what technology and business case go thr

china's customs agency said chinese tariffs will ta ke agency said chinese tariffs will take effect immediately after us ta riffs take effect immediately after us tariffs on chinese goods kick in. washington has said it's going to implement tariffs on $34 billion of chinese imports on july implement tariffs on $34 billion of chinese imports onjuly the sixth, which is tomorrow, and beijing has vowed to retaliate in kind on the same day or the lloyds said it will not be the first to pull the trigger. the trade war story is one that we are quite across. let's move on. the uk's biggest carmaker. jaguar land rover has warned a bad brexit deal could cost it more than £1.2 billion in profit each year — jeopardising future investment in britain. jlr says it needs "free and frictionless trade with the eu and unrestricted access to the single market." it's the latest big firm to weigh into the brexit debate after similar warnings from airbus and siemens. advertising giant wpp has threatened to take away share awards worth millions from its former chief executive sir martin sorrell over his rival bid f

is not just the chinese who are here. we have french american british german and italian people here too if the whole world. is to fit. in them what you see as expansion depends on the context if you're referring to the globalization of investment and economic exchange different then globalization is undoubtedly acceptable and pulls but if you take it to mean domination or he gammon e r one it isn't that it doesn't fit china's culture much full on the lyceum little video. in two thousand and fourteen kazakhstan became a member of the year asian economic union the free trade zone desired by moscow on the other hand of the chinese have invested twice as much in kazakhstan since that date. to bear has become a new outpost for this chinese presence just a hundred kilometers from russia and the border station of jaison. at the moment russia's still thrilled by the chinese project of the new silk road because it's in line with its own eurasian ambitions. russia's advertising spots also promise affluence and cutting edge infrast

in white, i have the chinese technology etf's. that tracks the chinese stocks. in blue, this tracks the american big tech companies. you can see in white, chinese stocks were outperforming a little bit. then they underperformed and since the election of donald trump, technology stocks in china have outperformed again. there were some concerns about the trade rules and if they are blocking investments between chinese and american companies what that would mean. interestingly enough, since this trade war started to break out, american companies in blue have started to outperform. there is not a lot of supply from the american companies, yet there is demand from china. china needs these chips that the american companies make. that makes investors still bullish on technology companies. carol: a reminder about the importance of chinese companies and their overall market. jason: next, rio tinto offers a glimpse into the unique risk and rewards of doing business in china. carol: plus, move over quinoa. peru has a new superfood to share. jason: this is "bloomberg busine

the chinese don't want to bid -- want a big trade war. their view is that the trump administration billfold relatively quickly or this is just about the midterm elections and they have much more staying power. if you're watching the president's speech, it doesn't -- this will be a hot summer for both sides looking to try to be tough. >> one contrast here is that the u.s. economy seems to be picking up steam. slowing down a bit, and a big concern there. area wheree specific this is where china can compromise and get on board with donald trump. asi don't think china is people are making out. the chinese are not taking any drastic measures to slow growth, which would show that they are really worried about the economy. at wherewas looking the chinese failed a compromise, there is plenty of market access deal that they would be willing to cut. and i think you could look for some areas where they have some greater restrictions on industrial policy limiting subsidies to some extent. reducing joint venture requirements across a larger number of

chinese policies and practices. most business roundtable companies have encountered one of the serious problems, intellectual property theft, forced technology transfer, unfair restrictions on access to and investment in chinese markets and competing with state subsidized chinese companies. business roundtable, therefore, welcomes the administration's focus on china's trade policies. however, the cycle of tariffs and counter tariffs recently initiated by the administration is dangerously counter productive. imposing section 301 tariffs without first pursuing serious negotiations on necessarily jeopardizes u.s. farmers, workers and businesses. instead of starting negotiation by imposing punitive tariffs on tens or hundreds of billions of chinese imports, thereby triggering commencer retaliation against u.s. exports, the administration should first detail clearly to china how its practices must change. second, establish deadlines for china to adopt concrete reforms, and third, describe actions the u.s. will take in co

chinese market opening, and the chinese have expressed they want that as well. and taddressing intellectual property concerns, all of this is a matter of promoting china's policy of trying to deregulate, bring in market based forces, peeling away those multiple layers of regulation >> they say that, but they don't do it, right i can't tell you how many bankers i have talked to for the last 15 years who told me they were on the verge of finally getting a license to control their entire bank in china and it never, ever happened, they say all those things happened, all that happy talk about opening their market and it seems under xi they have gone backwards, why is that >> that's why we need to change the discussion in the legal access, the central government allows access to effective acce access effective access means not only cutting through that central government policy, but all of those approvals, and all those things that the chinese state-led economy uses those are the kind of practical things that need to come into the discussion >> thank you for joining u

and big one place drawing chinese tourists, but that is also owned by a chinese consortium with disney as a small minority partner. carol: isn't it ironic because that is what china demanded. you want to set up shop in china? ok, but it will be a joint venture. jim: everybody goes in with a partner, and a partner, besides getting rich, the partner is also able to earn your business and maybe take your ip. who knows, you know? and that is a great way for them to develop, but in the meantime, a lot of the leverage they have gets watered down. if they lean on american brands very hard, they hurt their own state-controlled companies. carol: in the economics section, we focus on a chinese city. jason: this is a city that is part of a massive effort by the chinese government, a bunch of high-tech zones they are creating. it is huge. carol: nanjing is going head-to-head against silicon valley. cristina: this is a city that twice in history used to be china's capital, but became a runner-up to places like beijing and shanghai, but has now emerged as a new tech hub. we looked at it as an exampl

the real problem with chinese trade is chinese theft of international ip. this adding tariffs will not attack that. this is what we are getting and i think it will be the tipping point for china. we are seeing it now area -- now. haidi: you would not be the first china bear to be concerned about the amount of debt and the risks at play in the chinese .conomy, but so far, so good the way they make policy and the way they tweak policy to react to market forces have managed to keep things afloat. what changes things this time? good for theso international world that sells commodities and other things to china, not necessarily for the chinese people. what is different this time, i think what is different really is chinese banks, the central government push a ton of money into the economy in 2016 because it was their version of an election year. everybody had to show growth, local governments showing they are expanding. it is unplayable. that would require more injection of money and there is not that much money to go around without creating massive inflation. t

short answer is yes but not in the same way as they care about chinese people so what chinese government want is to create jobs to sell its domestic overcapacity to africa and also to get market access in this large continent and for chinese companies it wants to make money. i would i would have to say that a lot of those. harmon tory johnson labor issues or gather tension sorry for china it's about making money at all. you know what happens locally i think it depends on the industry it depends on the company for the many company i've talked to some of them did break the local law of violating the labor law environmental law but most of them i think are good followers to abide by the local law so before serving industries like mining it's very easy to break the law and got into conflict with the locals but i don't think it's a universal thing for all projects and all countries or what about the issue of loans a lot of these countries have taken up huge loans and there is concern that you know if some of these countries whether it's senate gotto give me are unable to pay their debts towar

so some local chinese residents, some white sympathizers, who supported the chinese community, launched a letter writing campaign to the exposition officials, and with the help of the chinese government commissioner to the fair, they eventually got that attraction closed. but it didn't mean there was no anti-chinese sentiment anymore, but they were able to get that shut down. in 1939, china was already at war with japan, japan invaded china, so china is deeply i am in meshed in this war with japan , so the government of china did not send a delegation to the fair. they did not erect their own building, but the local chinese community actually raised a great deal of money to erect their own chinese village, which was placed on -- also on the midway of the 1939 fair, which was then called the gateway, and they erected a huge chinese village with chinese acrobats, chinesetheater, artisans actually producing traditional craft, in that way, the chinese communities was very much a part of that 1939 fair. host: you teach now in wisconsin but you grew up in san francisco? prof. markwyn: i grew

a chinese court has temporarily banned micron from the chinese market. 26 macron products -- micron products are at risk. this all stems from a patent case where united microelectronics took legal action against the idaho-based company back in january. joining me to discuss is ian king, who covers the chip industry. ian, analysts are saying that the impact of this is just a ron, butip for mic china did account for more than 50% of its revenue last year. so, what are investors thinking here? is this a buying opportunity, or is there still concern? ian: what we had is micron put out a public statement in response to what had been said in china. yes, we've received this order from the court. when you look at what the patent's cover, they don't cover the fundamentals of our technology. they cover just some ways of packaging it and selling it, so it's a relatively small percent of our revenue that sits at stake -- that is at stake. that's being seized upon by those who like micron's stock and performance. they are safe, at least on this particular issue. selina: this intellectual-property dispute

business is not only attraction for chinese who take up residence here. some are also drawn to egypt's ancient heritage. hall show she ages all. when john. paul i. do it what do you know so walsh. what you're all i mean you go. with. each and each and going into. the issues on which i'm going on. as early as the one nine hundred thirty china sponsored several groups of muslim chinese students to study in cairo. this exchange establish lasting links between china egypt and other muslim countries. was something of a pioneer and first came to cairo in the late one nine hundred ninety to study it as have a university. so run that you. will not go from zero. to. understand one of. so the whole. so as the heart ya know. and. so on those are all kind. of the one you know how to push. through all. you know to be a whole international community be a whole. you know it's all visual when. you know your pov as you look at. what have you seen it before you wouldn't know what you're going to hear your feet how. you are similar to. how. it was. and you think. are. the c

chinese carriers. i think that will add a competitor to what is pretty much a duopoly in the aircraft manufacturer space. rishaad: especially when it comes with embraer going with boeing. cargo has had a horrid time of it the last few years. the thing is that many up takes have decided not to be afraid or carriers. is it just created more capacity or is it a turn in more fundamentals? steve: great question. first of all, air cargo has always been growing. the problem has never been the demand side. i think with e-commerce, there is an increasing growth of things moving in small package, which helps airspace as well. the challenge has been the supply side. more than half of the cargo does not travel on freighter aircraft, it travels in the belly of the passenger aircraft. the problem the cargo industry has had is that that belly space has actually been growing significantly faster. a triple seven passenger aircraft has a huge amount of freight capacity underneath it. as the passenger traffic has been gr

last time, if i had time to talk more -- a chinese stock listing. controlled by chinese. based it in seattle -- no, san diego. rishaad: 84% up this year? liu: there you are. good money. you know i love healthcare. still can make good money. this is small but can be bigger. 19.s better than ok? this is good for that. in u.s., 150,000 patients. china is 5 times more. rishaad: skin cancer? liu: related to that. related to blood. david: how's your fhund doing? liu: really well. really well. i'm in a transition period to have dominated smaller, medium companies for 30 years. year, i'm accumulating age shares. ok? selective way. last time i bought a lot of banks. i made money. buy healthcare. i made good money on china water. i love china water so much. look at china water this year. up so much. made good money. mo -- saying all these trade tensions and sentiment is quite bad. a buying opportunity. how do you take advantage of what's going on? 38% cash.e hold buy bond. 60%. bons, -- number one, healthcare. number two, asia shares. ipos' three, buy goos -- buy good ipo's. david:

pro-democracy campaigners gather in hong kong to mark the first anniversary of the death of the chinese dissident and nobel laureate usual. and welcome to the program u.s. president is holding meetings with british prime minister theresa may her country retreat this hour at the start of the talks trump insisted their relationship is very good and strong the president's positive remarks come shortly after an interview was published in which he blamed trees a made for quote wrecking brags that he believes her plans to proceed with a business friendly exit from the european union would leave it too close to the blog also added quote i would have done it much differently i actually told to resume a how to do it but she didn't listen to me. the comments come after several day from a two senior ministers resigned in protest over her brag. plans to get more on these comments let's bring in correspondent bigot mosse who's standing by in london barry good it's good to see you what has the fallout from this interview been. very very controversial really like. it's a house of parliament and many m

if the chinese government follows through with its threat the u.s. lobster industry could feel the pinch losing its edge over rivals such as canada and australia that will hurt the americans last year china imported about one hundred twenty eight million dollars worth of live lobsters from the u.s. accounting for fifteen to twenty percent of total u.s. lobster exports. sadly gets here what china calls the precipice of a global trade war well when donald trump became president he promised his country that he would put america first and when it comes to global trade his mantra has long remain that the u.s. has drawn the short straw it seems as if his latest moves on effort to redress the balance and change that. tariffs have long been one of donald trump's favorite topics even before entering the white house last january he promised to slap levies on u.s. come a cause with plants in mexico initially he seemed content just to hand out threats . twelve months later however the situation was more serious on the twenty second of january two thousand and ei

the chinese are going to respond. from a market point of view, we getting into a position where we , thatly get to understand way we can take the fear element out of the story and markets can actually get their arms around what is going on? peter: i think in the short term, you might be right. most of what has been incremented has been well flagged. here,dium-term question what we haven't worked out is, where is this all going to end? we don't know. secondly, we what is ultimately going to be ending in the global and local economies, including the u.s.? we haven't really works it out. there are quite a few analysis out there. i think we might have an idea, but ultimately we don't know. matt: what is your base case here, do we just have some bilateral tariffs changes or do we have an all-out tit-for-tat trade war? peter: that we don't know. what we have done is we have looked at various scenarios. if i pick out one by my when yous in the u.s., try to model with the worst-case scenario for a bilateral china-u.s. tariffs

the response to trump's tariffs on chinese goods was swift. but at a meeting in bulgaria premier league chan was quick temper size his country's reluctant resolution to come out on top. our view is that creed war is never a solution for china would never start a trade war but if any party resorts to increase terrorists then china will take measures in response. so far has mirrored washington's tariffs slapping twenty five percent duties on goods ranging from cars to soybeans and seafood. the u.s. signaled it could up the ante announcing fresh levies and hinting at half a trillion dollars worth of chinese goods could be in the crosshairs the threat of a full blown economics arms race has many observers worried. and he doesn't is he took any of this of the united states is trying to get evangelists to pressure and threats if it doesn't work then we'll be in a dangerous spiral and there can only be losers the losers also include americans rural states supported trump could be especially hard hit many export agricultural goods to china but for now

this suggest that chinese stocks are cheap. chinese stocks are attractive by measure. david: this is going to be difficult. talked aboutave the two closest things to my markets andare football. it being friday and it being heavy news day and lot of pad news out in the world. tensions andde tariff kicking in. i'm sorry, i know it's your time. i hope this doesn't discourtroom discourage you from coming back. playingtell me who's tonight? [laughter] >> sweden. belgium. some country. win.: you >> a country is playing tonight. incorrect. .'ll take it heidi: thank you so much. i love what is happening there cheap why's so shanghaioving the chart. if you show reference, we are counting down. you one guess. our top story is trade, war and tariffs. betweenariffs washington and beijing kicking off much like the world cup. got tariffs deadline getting closer to midnight there. bloomberg. david: it's 11:00 here in hong kong. fewre just an hour and seconds away from u.s. tariffs kicking in on china. welcome to "bloomberg markets: asia." ♪ >> war was lost now we're going to win it

is there an element of chinese money should support chinese companies? >> this is still a developing story, but that does seem feasible. chinese stocks are having a terrible year. what this change what effectively do, because the hang seng index compilers were looking at -- are going to include foreign companies, securities, and stocks from this quarter. china has essentially said, not so fast. we will not include them through the stock link. that will keep chinese money within the chinese stock ecosystem as it pertains to foreign companies. it will also stop chinese investors from investing in the likes of xiaomi. yvonne: this looks like another setback for the likes of xiaomi, who has the dual weighted structure, also cbr issuance. >> it has been a very contentious ipo and a failure to launch when it comes to the cdr's. cdr's were meant to be a high-profile program with china attempted to bring tech companies back to china. what we saw instead was -- with xiaomi was regulators are not the issue would be in the interest of chinese investors. talks fell

chinese officials are afraid of getting played again. ?here is a trust deficit going , are they going to get back deficit going, are they going to get back into talks? they don't have a trump administration say, actually, we are going to go ahead. ramy: are we getting any clues that china could of done more to avoid such a confrontation? we are getting clues from the propaganda organs in china. toy are being instructed tone down the rhetoric on the trade front. some of the tensions with united this comes as we're hearing from academics and economists that there is a rumbling within the leadership about the president's handling of the united states as his united states,-- has his foreign-policy been overarching? we may seeat compromise from the chinese is in intellectual property. european officials said that toneadopted an unusual in the discussions that included softer tones on intellectual property rights. said to us that it could be attributed to the trump effect. organs we are hearing are being told to tone rhetoric, tothis not antagon

course the coming up chinese president xi jinping is in africa to strengthen economic ties with the continent absent your new critic of investment deals. plus the collection of disney theme park memorabilia is being auctioned next month in california at all costs a lot more than some pixie dust to take it. this is your business update glad you could join me has the makings of a new transatlantic dispute european finance ministers and central bankers have called for global rules to tax the digital economy putting them at all odds with u.s. counterparts the idea was floated a meeting of the g twenty in the argentinian capital when his ideas on sunday and it's not likely to go down well with the u.s. tech giants. it's an idea the e.u. started toying with earlier this year digital companies should pay their fair share of taxes during last weekend's g twenty meeting e.u. finance leaders made sure the proposal was on the docket. like every other company tech giants like google are acquired to pay taxes on their profits however many used creative accounting to avoid paying their full share that's wh

the chinese tariffs kick in as well. have you read the privacy policies of your favourite social media apps? will get insight from some 13 year olds. —— we will. welcome to asia business report. i am sharanjit leyl business report. i am sharanjit leyl. today is the day that the united states makes good on its threat to impose a 45% tariff on imports from china in punishment for what america claims is intellectual property theft. —— 25%. some of the most crucial tariffs include items in the tech sector like semiconductors, reasonable. they also cover all materials and components they go to product made in america like plastics and machinery. on the chinese side, a us agricultural products like soy beans will face increased tariffs. they make upa will face increased tariffs. they make up a third of the chinese soya bean imports. what is interesting is that many soya bean farmers are in areas where donald trump's support is strong. also there are automobiles which were already subject to import taxes. we are joined

he's talking to the chinese and looking at what is happening with chinese currency and chinese asset. commentke the minutia -- steve mnuchin comment in davos. trump is getting nervous about the strength of the greenback. mark: i think that is correct. strength ofg at the the dollar, the trade relationship and reacting to that. i am lows to give -- loathe to give a subtle approach too much credit. he is saying what he sees and not worrying about the consequences. the problem is, are we going to get more of that reaction? that, thatct more of means traders need to pay more attention to the tweet. story ake the payroll few months ago when trump tweeted and gave an indication of what the results would be ahead of the event. the game is changing for traders. pay attention to what trump says because he blabs random things all the time. guy: are they random, though? if you look at it, this is not random. this fits with the entire narrative. this fits with the trade story. just another side to the story. mark: i think it does fit in with the overall narrative. i would agree with that. i am no

japanese, chinese investments. softbank's vision fund is seeking to invest almost $1 billion in china's sense time as it seeks a stake in the world's most valuable artificial intelligence startup. people familiar coming bloomberg about this. softbank and its vision fund, which has been active globally, making this move into artificial intelligence. we will keep an eye on that. let's talk about the geopolitics. donald trump criticized the federal reserve interest rate increases, breaking with more than two decades of tradition of avoiding comments and respecting the independence of the central bank. the president said he's not thrilled. there have been five hikes since he took office. trump extended an invitation for a second summit with russian president vladimir putin in washington later this year. it is unclear if his administration new about that, or about what else happened behind closed doors in helsinki. joining us is bloomberg's david schneider. -- jodi schneider. your thoughts on all these things very welco

president trump as determined that tariffs are the way to get chinese -- the chinese to behave. >> i regret the worse and here, because i don't think you are really in the mix here on this issue. your censure as cannon fodder at the end of the day, which is really a challenge. heard noem is i have strategy whatsoever that suggest how this is going to end up. i don't even know how we are using to 32 to gain leverage other issues. for example, the july "new york that stateicle says farm and threatened ecuador with if they refused to drop a breast-feeding article. how is it that we are using 232 on something like that? of thator, i'm aware media report and it is false. >> you are not using 232 as it relates to anything other than national security concern 232 sot >> we're using we can give our domestic steel aluminum producers the ability to regain their industries. we want the domestic industries to be able to have the capacity to supply needs for critical infrastructure for our defense needs. 232 specifically states the viability was in the best interest of national security. helping

a prospective new metals giant is taking on the flood of chinese cheap chinese steel germany's to cope and india's tata have agreed to merge their european still making operations after two years of talks regulatory approval is still to come along with job cuts. the joint venture comes in response to the problem of overcapacity on the global steel marcus the new firm which will be known as to some crop tata steel will become europe's second largest steelmaker. if this is really the key issue to move successfully for the. global existed as if he had also cost tremendous additional imports into europe imports into europe are an all time high level which have only increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage family employs some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. when that press conference my colleague helen humphrey had a ch