Will have to be under wto rules. The second big element are commitments from the chinese on a few structural changes. Intellectual property enforcement. They will do more of it, they say. That is something they are doing already. The third element is something on currency. The chinese have long been accused of being a currency manipulator. In this agreement, they agreed to be more transparent about how they manage their currency. How they manage their currency. We will see what happens. The fourth element imports from china do to go into effect on sunday is also agreed to lower the rate on about 110 billion in imports from china that took effect september 1. That will go down from 15 to 17 point from 17. 5 to 15 immediately. Those are this is the first time we have seen President Trump rollback any tariffs, and that is a big confidence building measure. The big problem with this agreement, and we are already seeing folks point to it, including chuck schumer, is this does not address some of the big longstanding american complaints about the chinese economy, and that is things like industrial subsidies. President trump says the tariffs still in place will give him the leverage for a phase two of the negotiations. We do not know when that will start. And we have a lot of folks telling us they do not expect the phase two to conclude any time before the 2020 election. Will we be going into a president ial election where we are daily getting tweets . Will this keep going through the election . Shawn i think witty i think we should expect the phase two negotiations over the next years. What this allows President Trump to do is say my tariffs worked, i got a deal. He is also reducing some of the harm caused by the trade wars by getting the chinese to buy agricultural goods from u. S. Farmers who got hit hard. Those farmers are in states he needs for reelection. At the same time, he gets to address the china hawks by saying im not done yet. I still have tariffs in place and there is more negotiating i am doing. The chinese have to do more. Guy come back to the david come back to the issue so important to the chinese, the rollback of tariffs. We will not when the chinese say there will be phases in which we rollback the tariffs, does that go beyond september 1 tariffs . Shawn that is unclear. That is something we are trying to nail down in the u. S. We have not heard that from the u. S. Side but the chinese clearly indicated they expect more tariffs to come off. David the chinese also seemed to sidestep the question of how much Agricultural Products they will be buying. Did they buy them irrespective of whether they are cheaper or more expensive than soybeans from brazil or argentina . Shawn that is a big question going forward. We know the chinese have been reluctant to admit to a specific number. Im going tovid interrupt you. The only person i would and rub q4, the president of the United States. i was doing the finals but i got to see enough of it. Certainly i spoke to my people. It is a witchhunt, it is a sham, it is a hoax. Nothing was done wrong. I think it is a horrible thing to be using the tool of impeachment, which is supposed ande used in an emergency many years apart, to be using this for a perfect phone call where the president of that country said there was no pressure whatsoever, do not even know what we were talking about, it was perfect, the relationship is perfect. I have done much more for them than obama did for them. It is a scam, it is something that should not be allowed, and it is a bad thing for our country. You are trivializing impeachment. I tell you what. Someday there will be a democrat president and therell be a Republican House and i suspect they will remember it. Impeachment for absolutely nothing other than to try to get political gain with that being said, my poll numbers have gone through the roof. Fundraising for the Republican Party has gone through the roof. We are setting records. Nobody has ever seen anything like it. The people are disgusted. The people are disgusted. Nobody has seen anything like this. I watched yesterday and got to see quite a bit of it. I watch these democrats on the committee make fulls out of themselves. Absolute fools out of themselves. I saw them quoting incorrectly. They kept saying me. Bill is not about me, it was about us. Me, it wast about not about us. Favor, our us a country. Then it talked about the attorney general of the United States. These people to save me for those people to say me, i did i said do us a favor, talking about the past election. The other thing nobody remembers and nobody likes to talk about is why isnt germany, wise and france, why arent other European Countries paying . We are paying for years, we have been the suckers. We are not the suckers anymore. Why isnt germany paying big money . They have a much bigger benefit than we do because ukraine is a stoppage between russia and parts of europe, the major part of europe. Why arent European Countries wise and france paying a lot of money . Why is it always the United States. Why is it always the suckers . We have changed that and nobody brings that up. I think the whole impeachment thing, hoax, i guess you could call it because it is a hoax, and nancy pelosi knows it. They duped her yesterday. She was on an interview and she set we have been working on this for two and a half years. Yearss working on it two before we ever spoke to ukraine. She said we have been working on impeachment for two and a half years. The reporter was shot when they got this answer the reporter was shocked when they got this answer. It is a sad thing for our country. It seems to be good for me politically. Those people, i watched some of the dishonest fake media, they are saying the polls have remained the same, the polls have not remained the same. The polls have gone through the roof for trump. , especiallyvoters in swing states, nobody has seen numbers like this before. The impeachment is a hoax, it is a sham, it started a long time ago, probably before i came down the escalator with the future first lady. Started a long time ago. When you look at the ig report and these horrible fbi people talking about we have to get him out, insurance policies. You know the insurance policy is just in case she loses, meaning crooked hillary, who was as crooked as a three dollar bill, just in case crooked hillary leap just in case crooked hillary loses, we have an insurance policy. Thank, everybody. I think they will hit 50 billion in agriculture. Much more than 50 billion because it is manufacturing and others. In agriculture, they will hit 50 billion . Pretty soon. They already stepped it up. My deal was two months ago. We had it in pretty good form. They are already buying. [indiscernible] trump we are with the people of venezuela and we will be discussing venezuela today. Do you prefer short process in the senate or more extensive process . Trump i heard Lindsey Graham statement. I will do longer short. We did nothing wrong. I have heard mitch and ive heard lindsay. I will do whatever they want to do. I would not mind the long process because i would like to see the whistleblower the whistleblower wrote of false report and i blew it up when i released the transcript of the call. Then adam schiff gets up and i blew him up, too, because he went up in front of congress and made a statement about what i said that was totally false. And then a long time after i met him, when he got caught, he said that was a parody. Adam schiff is a corrupt politician and a disgrace. Because of the fact he is in congress, he has immunity. He went up there and a totally false statement. The whistleblower wrote a totally false statement. It is a fraud. Where is the informer, the one that informed the whistleblower . He had informer. He disappeared. You know why he disappeared . Because i release the transcript. Had i not release the transcript, we wouldve had informer, we wouldve had another whistleblower. Remember the second whistleblower . Where is the second whistleblower . Much of the media is corrupt. These are bad people, they are sick people, and they are corrupt. We are fighting the democrats and we are fighting a lot of the corrupt media. I asked the corrupt media where is the second whistleblower . Had i not had a transcript, i am lucky we had this transcript, which has been very which has been verified by the lt. Col. , he is another beauty, where is all of the stuff that was going to happen . Once i released it, all of a sudden the second whistleblower disappeared. The first whistleblower was also to testify. He becomes this saint like figure that they do not need him anymore. ,he one everybody wanted to see including adam schiff was the whistleblower. Once i released the text of what happened, the transcript, that was the end. Everybody disappeared. Now there is no informer, there is no second whistleblower, everybody is gone, and by the way a guy like gordon sondland. He said very strongly that i said i want nothing and no quid pro quo. Nobody says that. That is what he said. He said it in congress. Nobody ever says that. We are dealing with a lot of corrupt people. There was nothing done wrong. To use the power of impeachment on this nonsense is an embarrassment to this country. The president just said it. It is an embarrassment to our country. Thank you very much. Thank you very much. Think the whole impeachment thing, hoax, i guess you could call it, because it is a hoax. Nancy pelosi knows it. They duped her yesterday. She was on an interview and she said weve been working on this for two and a half years. We have been listening to what President Trump said in the oval office. He has been meeting with the president of paraguay. He spent time talking about his impeachment proceedings. In there was a colonel about trade. For that we want to go back to shawn donnan, who has been patiently waiting in washington. He did say we will get the 50 billion in agriculture alone, manufacturing, and we will do it fairly soon. When we finally see the language, will it specify when we get that number and what about the wto restrictions and marketed conditions he referred to before we heard from the president . All theou are asking right questions and we do not have answers right now. We will get this tax that will hopefully give us more detail, but what we are seeing from the president is how he is consumed by some of the other news in washington. David thank you so much for being with us and your patience. That is bloombergs shawn donnan. Now we want to turn to trade to the other big story, that is the british election. Boris johnson and the conservative party won the biggest majority since the days of margaret thatcher. We welcome heather probably, the director of the your program. Thank you of the europe program. This is obviously a massive victory and a historic victory. Why did Boris Johnson and the conservatives do so well . Was it brexit or the underlying merits of the policies being proposed . Heather Boris Johnson the keep it stupid, theme. Just keep it focused on getting brexit done. It was simple, it was focused, he tried to stay out of controversy. He was disciplined in his approach and it was clear it was a winning message. I think the other part of the story is the deep unpopularity of jeremy corbyn. That also played through in the exit polling data. You are absolutely right. A historic vote, where we were seeing constituencies that have been in labors hands for generations turn for the first time towards the conservative party. Now this domination of the conservative party. I like to use Colin Powells phrase the pottery barn rule, you break it you own it, the conservative party will bring the u. K. Out of the eu and then they will own that process. There is no parliament to blame. Their dominance will give them a lot of ownership of what comes next. David the question of what comes next, the question is what are the relationships with europe after they get out. We have any indication of what Boris Johnson is likely to do, go the way of norway and have rules similar to europe, or economy risk the u. K. By a more clean break . Heather this is the question. We have no idea what leaderboards johnson is going to be good is he going to be the mayor of london, that liberal centrist who once a very Close Partnership with europe after the u. K. Leaves, or is he the Boris Johnson that was Prime Minister for the last five months, polling for great , wantinge from the eu to be a singapore on thames, wanting to compete with the eu. We do not know. With his majority he can do all Different Things he wants to. We know the clock is running. They basically have 11 months to conclude the Free Trade Agreement with the eu, unless mr. Johnson votes to ask for an extension by july 1. Traild us on the campaign he will not do it, but we know he changes his mind. David something about dead in a ditch, as i recall. Thanks a much to heather conley. Coming up, it is official. Impeachment is heading to a floor vote in the house next week, with a senate trial looking set for january. We asked our Political Panel what it all means next on balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. The House Judiciary Committee passed two articles of impeachment on a partyline vote, advancing them to the full house for a vote next week. We welcome our Political Panel. Joel payne, former Senior Advisor to the Hillary Clinton president ial campaign, and from austin, Jason Johnson, former chief advisor to the ted cruz president ial campaign. We just heard at some length from the president about what he saw yesterday and the way he described it, he called it a hoax with respect to impeachment he says they misquoted him and have been planning on this for some time. Is that his defense so far as he needs a defense of it goes to trial. Jason i believe it is. If we set the partisan rhetoric aside, whether you agree with it or disagree with it, the reality is it was the worst kept secret in washington, d. C. That from day one at least some of the Democratic Party wanted to impeach the president. It has been going on a long time. Unfortunately, it has become a partisan affair. We know the vote to open the inquiry into impeachment was partisan in favor and bipartisan assume goingwe forward on the next vote on the articles of impeachment, the vote will be the same. I think this president and republicans at large, when you look at the polling data, the reality is independence have turned against this product because it has been so independents have turned against this process because it has been so partisan. It should be historic but it is not because you know it is coming. David this reminds me a little bit of the clinton impeachment for the democrats were saying it is a rightwing conspiracy, and they had a point, but it is not entirely surprising. The question is whether the president did anything he should not have done. Joel the only thing historic about it is the levels of support, which are historically high for this type of action. You look at the clinton impeachment, the country was about 15 to 20 points behind where it is now in terms of what they think congress should do, whether they think congress should move forward with the inquiry and impeachment. It is interesting the framing jason puts on it. All of the witnesses adam schiff put in front of his Intelligence Committee are all republican appointees. This is not the Advisory Board of the Democratic National committee. These are not my buddies on a text chain. These are career republicans, career officials, these are members of our National Security apparatus that raised alarm about the president s behavior. Ultimately, that is why the American Public is historically supporting impeachment at levels we have not seen before. David how long should this take . We are assuming it will happen and we are hearing there is a tension between Mitch Mcconnell and the white house on how long it should take. We talked to senator cramer yesterday and this is what he said. I do not think we ought to aim for a long trial. As much fun as it might be to provide witnesses that provide exculpatory evidence, we can hear their evidence and we can hear the rebuttal by the president s lawyers and go right to a vote on both articles. David if Mitch Mcconnell has the boats, isnt there something to be said for getting the vote taken before Something Else might develop . You never know what is around the corner . Jason if politics were not involved, given the way this has developed in the house, coming to the senate, regardless of what you think about the matter, the votes are predictable in the senate, you would just get it out of the way. I do believe there is a difference of opinion driven by different views of politics. This is a pr battle. That is what most of this has been about with this trial on tv and the house. There are definitely a lot of republicans that believe they should be given ample time in the senate and that will help the president and help republicans to expose the view this was all a sham from day one. David many thanks to joel payne, i ran out of time, and Jason Johnson in austin, texas. It is a big day for u. S. China trade relations. We do not yet know how big it will be and what the parties have agreed to. ,e will talk to carla hills former United States trade representative. She was the trade representative under george h. W. Bush. We will ask her view on where things stand with china and what comes next. Ons is balance of power Bloomberg Television and radio. David from new york, this is balance of power on Bloomberg Television and radio. From bloomberg first word news, we go to mark crumpton. Mark is up to the full house of representatives to decide whether to impeach President Trump. The House Judiciary Committee improved two articles of impeachment that accuse the president of abuse of congress. The democraticcontrolled house is expected to make mr. Trump only the third resident in u. S. History to be impeached. It is all but certain he will be acquitted and the republicancontrolled senate. China and United States have agreed on the text of a phase one trade deal. The agreement will lead to the removal of tariffs on chinese goods in stages. Increase, china will imports from the west. Chinese official said the benefits of the deal will be felt around the world. The downward pressure on the world economy, the agreement globalso help boost market confidence, stabilize market expectations, and create an environment for normal economic trade and investment activities. Mark on twitter, President Trump called it an amazing deal for all. Boris johnson has redrawn the political map of britain. A victory by the conservatives has given the Prime Minister the mandate he needed for brexit. The Opposition Labour Party took a beating. The parties leader says he will stand down. In india, violent protests continue over new citizenship law. Police shot and killed two demonstrators who broke curfew in the northeastern state. Thousands of people started fires and blocked streets. Law barsrys new undocumented muslims from pakistan, bangladesh, and afghanistan from seeking citizenship, while allowing their tenor parts from other religions to do so. While allowing their counterparts from other religions to do so. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am mark crumpton. This is bloomberg. David carla hills served in the cabinet of two different republican president as secretary of housing and urban development and that is trade representative under president George Herbert walker bush. We welcome her black to bloomberg. Thank you for having us thank you for being with us. We have some tweets out of President Trump. We have not seen the text. It seems we will not go forward with new tariffs on december 15, but reduce the tariffs on september 1 and may be more phase down going forward. Does that make sense to try to hold the chinese to the bargain and make sure they do whatever they say they are going to do . Argue withi cannot having some kind of leverage. My whole approach toward the chinese would be different. I would have worked with my allies. I think reducing the tariffs, which is hurting our businesses and our farmers and our workers, is going in the right direction. It is something we have suffered from if you look at the statistics. David at the same time, we just heard from the president in the oval office who was meeting with the president of paraguay and addressed trade, saying we will have at least 50 billion a year and chinese purchases of Agricultural Products. Does that vindicate the president s approach . That sounds like a good concession to the United States. Ms. Hills i have not read the agreement. It would be extraordinary to have a 50 billion commitment theret, but you could get if you go beyond agriculture and have Equipment Manufacturing and so forth. It could elicit some complaints from our allies who say nondiscrimination commitments you complain about. We will see. I do not want to complain about the agreement until i have had a chance to read it. David that is certainly fair. The chinese when addressing this in their News Conference that we will increase our agricultural purchase. Subject to wto provisions and subject to the marketplace, explain how that might limit what the chinese could buy from us. Ms. Hills they will have to make a decision. They have been our largest purchaser of soybeans. They go back to their top purchases, that will be a good thing. We are super competitive. Lets see how it works out. I think to the extent we are trying to drive china to adopt byket principles, to abide National Treatment and nondiscrimination, we need to agreement toartial be compliant also. David we are speaking with former u. S. Trade representative and ambassador carla hills. You mentioned earlier the need to have allies. Thus far we have done this bilaterally. This is phase one, there is a phase two, there may be a phase three. As we go forward to more difficult issues, intellectual property issues, is that all the more important in that situation to have the allies . Ms. Hills you stand in front of china with europe, japan, south total ofnada, and a more than 60 of global gdp and say these are the things we need to have fixed. Give us a blueprint of how you are going to address them. In committed to these things 2001. That would be far more leverage with far less pain than by relying on unilateral tariffs. David if you are back in your old position and advising the president today, what would you tell him is your realistic pitch onens lets in particular subsidies. China has a different economy than the United States and the west. What is realistic to get them to concede. Theyre not going to throw away their state run economy. Ms. Hills they are trying to go more toward the market. We do business with other countries that have state owned enterprises. In fact, we do. Number of very large state owned enterprises. The difference is there is no discrimination. And overas a number, the years if it gives subsidies to a specific sector, the state owned enterprise is involved in, they do not discriminate against giving them to others. David the markets have been reacting up and down a little bit to this news. As you say, we have not seen the language. Just preliminarily, how should the markets be reacting. Is this good news for the u. S. Industry and the u. S. Economy . Ms. Hills to the extent we pull back on our tariffs, it is good news. To the extent we are moving forward, even if it is a small step toward eliminating the trade war, it is going in the right direction. Lets hope we can take many steps, get to the end, where we can work with china on the issues we share and will require the energy of the two largest economies. David thank you. Former u. S. Trade representative carla hills will be staying with us as we turn from u. S. China trade issues to the usmca, the replacement from nafta. Ons is balance of power Bloomberg Television and radio. Youre talking about 12 million american jobs, 1. 2 trillion for the american people. My home state of texas, mexico is the largest trading partner and about one million jobs for texas at 137 billion. A lot has been made about given the president a political win. I would argue they should not be held hostage by politics. This is a win for the american worker. David that was Ranking Member of the House Foreign Relations Committee congressman Michael Mccaul of texas talking to balance of power yesterday. Carla hills is still with us. Madame ambassador, is this still a victory . Ills i think it is a step forward. There are things i would not have purred i would not have preferred to have but we have a strong relationship with our northern and southern neighbors. He said 12 million jobs. I think the calculation is up to 14 million jobs for our interregional employment that comes from our trade with canada and mexico. War andover the trade upgrading the north american Free Trade Agreement and moving forward is, in my view, a plus. Careful david i want to be careful when we talk about 14 million jobs. Is that incremental, or is the alternative losing nafta . Amb. Hills that is the alternative to losing nafta. When you look at what nafta accomplished, it created the most competitive region in the world. We not only make things together, we really work on strategic things together and we have high employment because of our integrated supply chain. We have lots of tourists and benefits that come from that. Canada and mexico , we sell one third of our global trade to those two alone. It is an important trait partnership. David it is important to remember exactly that. It took the better part of a year to get this through congress. It is not through congress yet, but to an agreement that looks like it will pass through congress in the new year. Where the changes made at the behest of the democrats that significant . Take the labor issues. That was in the agreement and the issues were enforcement. Is that a significant step forward in your judgment . Amb. Hills the things we have imposed upon the auto industry, up themple, we boosted rules of origin from 62. 5 to 75 . It will be hard for small and mediumsized businesses that make parts for autos, and then we have said the producers on autos must pay 16 an hour to thatorkers to calculate some of our entrepreneurs may just say that is too much trouble. 2. 5 ld rather just pay the wto tariff linda have to incur the cost. This is what we have in the agreement. Betterthe usmca is far than not having any agreement at all. David lets look forward a little bit. As i understand, some of the provisions negotiated in usmca were borrowed from the tpp, the deal we stepped away from under president with the pacific. Are there things in the usmca that could be a blueprint for future trade deals United States does around the world . Amb. Hills you put your finger on it. The Transpacific Partnership was a template for upgrading and modernizing the north american Free Trade Agreement. We put it into the usmca. I think others will begin to think about how do we deal with it, what do we do with digital flows . How do we enforce the new technology we have today that we did not have 25 years ago. That is definitely a plus. Avid many thanks, ambassador that his former u. S. Trade representative carla hills. We will have more with her at 1 00 on our second hour on radio. Coming up, the United States senate is moving toward sanctions on russia and turkey, whose leaders appear to be moving toward one another. We talked to experts in both countries. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Relations between turkey and russia have not always been easy , but president s Vladimir Putin and erdogan seem to be putting all of that behind them, even as United States takes action against both. We welcome a russian expert, professor of International Affairs at the new school in new york, and from washington, bloch sloat, robert fellow in Foreign Policy at the brookings institute. Lets start with you about exactly what Vladimir Putin appears to be doing with respect to president erdogan. They seem to be getting quite close after turkey shot down one of their we know politics moves quickly and International Affairs moves quickly and they have become bosom friends. Originally boastful about shooting down a plane and saying turkey has its own policy in syria which is different from the russia. Immediatelyin stopped trait, stop tourism, which turkey glide on relied on quite a bit in their economy. This year they already met about five times, they call each other bosom friends. Said he and Vladimir Putin are elder statement. A lot of them is the selling to turkey and Vladimir Putin is making is working hard to make that happen. It is hard to me it is clear to me what is in it for president putin. He can peel off turkey from native and a u. S. Alliance. What is in it for turkey . Why does president erdogan benefit from this . A numberurkey has had of problems with United States and nato over the last years. President erdogan was very frustrated the United States and the eu were slow to respond to the coup attempt against him in july 2016 whereas Vladimir Putin reached out much more quickly. He has also been frustrated with United States for approaching a faction of kurds in syria. Thats also been clear russia has played a much more active role on the ground militarily in syria. Own objectives in syria, it has been in his interests to align himself more closely with the russians than the americans. Erdoganerdogan that said, i do not think that said, i do not think erdogan is wanting to shift with the russians. Professor, you mentioned military sales, the s 400 system there testing in turkey which has gone crosswise with United States, especially the senate. How big of a factor is that in the military sales . Prof. Khrushcheva it is important because russia wants to show off its very important weapons. Does need putin in the sense they both control syria. They are in charge of peacemaking. With importantng votes for Vladimir Putin and president erdogan. At 400. Was he now has something that gives him leverage in the region. In this sense, the United States did not play their cards well. They had options but they did not do as much as erdogan wanted. There is always a seller, there is always a buyer. That is how the friendship has blossomed. Amanda, lets come back to you. Andina says, mr. Erdogan mr. Putin seem to run syria. They have not always agreed on things with mr. Assad, they seem to have daggers drawn. Amanda that is interesting when you look at the relationship. They are on opposite sides of the syrian conflict. The russians have supported the assad regime, leading them to military victory in the country, whereas erdogans objective has to been to see a sought leave. They are at odds on that and they have different perspectives on supporting the faction of syrian kurds i mentioned earlier. While the United States worked with them in syria, russia has also worked with them. Turkey has not had the same pushback against russia it has against the United States. Certainly, given trumps decision to pull out u. S. Troops , russias active presence on the ground, and turkeys desire to go after the kurds, erdogan has seen it is much more useful to ally himself with Vladimir Putin in syria. David whatever one thinks of Vladimir Putin, one has to respect him as a tactician. Maybe from his trading in judo. Did he see an opportunity, do you believe, when President Trump came out with America First, America First around the world. If it is America First, it makes it more difficult to keep allies. Prof. Khrushcheva it is, but all the countries have been going on in saying our National Identity is more important, if we look even in the european union, we look at hungry, the same thing we look at hungary, the same thing. President erdogan was doing turkey before trump was doing America First. It is a convenient narrative on trumps part, but what is important to understand is america has difficulty having more than two colors. Erdogan and Vladimir Putin are paint are playing chess. It does not have to be all or nothing. We are tactically have relationships with each other. Unfortunately, unless United States starts catching up on tactics, it will be at a disadvantage. David catching up on tactics does not sound consistence with imposing new sanctions on russia and turkey. We have any choice but to do something, particular on the s4 hundred, which is interfering with our use of the f35 in the region . Amanda policymaking in washington is complicated across a number of issues, but particularly on turkey. You have the administration including the state department and the pentagon trying to approve good relations with turkey while at the same time understanding their needs to be consequences for problematic behavior. Congress has gotten frustrated with turkey. You see that rise over the decision to imprison a pastor last year, its purchase of the russian s4 hundred, and then most recently the incursion into syria. Turkey has been shielded from sanctions by President Trump, and given his personal relationship with erdogan, he has not imposed sanctions turkey should face for having purchased Russian Military equipment and has not gone forward on a number of sanctions. He was the you will see increasing congressional pressure to send a signal to both erdogan as well as trump. David policymaking in washington is fairly complicated. That is an understatement. Many thanks to my guests. Great to have you both with us. Coming up balance of power continues on bloomberg radio. We will have more with carla hills and prosecutor jessica roth on impeachment. That is coming up on balance of power. This is bloomberg. [ electrical buzzing ] [ dramatic music ] ahhhh ahhhh elliott. You came back from new york city for our viewers worldwide, i am lisa abramowicz. Bloomberg real yield starts right now. Markets assessing the contours of a partial phase one trade deal. A swirl of conflicting headlines and tweets continuing to whip sovereign risk assets. Keeping investors on edge, looking for more details. The big issue, markets debating what 2020 has in store for the u. S. 10 year. It should eventually be a good year for bonds
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