To San Francisco. Bases Bloomberg daybreak Asia for this Monday September 24th here in Hong Kong Sunday September 23rd in New York and coming up this hour looks like it makes a low. As investors I rising trade tensions between the u.s. From the Bloomberg Interactive Brokers studio I'm Brian Curtis in all Kong and I'm Juliet in Singapore of course it is a made festival several markets closed today China Japan South Korea and Taiwan but we do have a few markets up and running what he's saying Brian Well it's a day where it's mostly risk off I would suggest the New Zealand market is down by 2 thirds of one percent Australia has just opened flat we have seen a little bit of strength in the dollar this morning earlier in the morning we had strength as well but with all those markets closed today in Hong Kong closed tomorrow it's going to be probably a fairly light. Day of trading at the moment the dollar yen is at $11253.00 the euro's out a $1.74 very little movement there the Aussie dollar at $72.00 u.s. Cents a little bit of weakness right now we see the oil price up at $7153.00 a little bit of a snob for President Trump OPEC and its allies stopped short of saying that they would add to output to perhaps keep prices under wraps the group said for the moment it was happy to meet demand and so oil has been moving up Brett is now just under $80.00 a barrel at 7983 and gold is trading at $1202.40 so we don't have a lot of keys today today is a big day it's the day that the tariffs kick in from the u.s. And China on one another and so be really interesting to see what we get out of this in the next couple of days and also with the Fed meeting this week investors a little bit on the kids Juliette over to you Well Secretary of State my Pompei it says the u.s. Will win the trade will with China. Going to get an outcome which forces tried to behave in a way that if you want to be a power power transparency rule of law you don't steal intellectual property the fundamental principles of trade around the world those are the things the American people are demanding and the American workers deserve some pay I was speaking on Fox News Sunday the u.s. And China hours away from a new round of tariffs on each other's goods 200 $1000000000.00 of Chinese products will be subject to tariffs from 12 am Washington time that's noon in Hong Kong and $110000000000.00 of goods from the u.s. Will become subject to Chinese tariffs around the same time China yesterday called off planned trade talks with u.s. Officials we're hearing u.s. State Department sanctions this day on China's Defense Agency contributed to Beijing's decision those sanctions and defense deals that China did meet Russia will have more on that back coming up shortly many u.s. Companies are not too. Happy with the tariffs and the disruption to their global supply chains Glenn Hubbard former chairman of the Council of Economic Advisers under President George w. Bush says he doesn't think a trade war will solve Washington's beef with Beijing I do think the president was right in calling out China as a bad actor in international trade and intellectual property I don't think the tariffs of the answer there are a lot of multilateral ways to try to constrain the China problem I just don't see this is one of them there will be some opportunities for discussion on trade at the sidelines of the u.n. General Assembly that gets into full swing this week where trade also likely a big topic for discussion as President Trump and Japanese Prime Minister Shinzo take a meal together this evening in New York also some reports say that she pans trade minister and the u.s. Treasury. That has it will be holding trade talks tomorrow Trump and they will hold a summit choose day in New York in the meantime a new report says that producers in China are already under stress even before the tariffs kick in more on that from Bloomberg. That's right the China Beige Book poised to an explosion in corporate borrowing that isn't being captured by official government statistics a c b b says the sector is multi-year rally has given way to declining revenue and sharply declining profit growth it says and I quote absent a full trade deal this situation will likely deteriorate the pace of borrowing at 41 percent of firms the highest since 2012 sure smells a lot like panic Still the report does also say that a weakness in Chinese manufacturing was offset last quarter by strength of the services side of the economy in Hong Kong I mean. Well a big day in the Brit having a call from a shin hearing over alleged sexual abuse is. Covering all the clubs in the San Francisco. Yeah right Chris. Before agreeing to testify in open hearing on Thursday her attorney saying despite actual threats to her life Dr for believes it's important to have senators hear directly from her cabin I will then testify after she is through still unresolved though is whether there'll be other witnesses so far Republicans have denied any request and Democrat Dick Durbin who is on the committee says it shows some concern on the Republican side I think the Republicans have shown their uneasiness with their own defense by refusing to allow more challenge to testify and Durbin on a.b.c. But Republican Senator Lindsey Graham says he's not planning on ruining a judge Kavanagh's life. What do you expect me to do You can't break it in our criminal court you would never so settling you couldn't even get a warrant what am I supposed to do Graham on Fox what Bloomberg Krasny says bottom line judiciary committee sets that I don't want to get and do it the way they want to do it could be you know really wanted the high drama days you want government to get paid to really so that's the last day of the week Thursday us and up on the Bloomberg just getting a story a headline has just moved from New Yorker magazine saying that Senate Democrats are probing a new allegation visa v Mr Cavanagh judge Kavanaugh So we may have not heard the last of that there may be more information we've been reporting on the calling off by China of any further talks regarding tariffs it's taken a step further diplomatically now China's foreign ministry has some of the u.s. Ambassador to China Terry Branstad and has also decided to immediately recall commander Shandon Long who is in the u.s. For an international maritime force meeting saying it will depend on it will defend national interests pointing to the seriousness of this last time that this happened the recall was regarding the deployment of the fad defense missile system in South Korea meanwhile South Korean president and will deliver to Donald Trump the letter from North Korean leader Kim Jong un meetings tomorrow on the sidelines of the u.n. General Assembly u.s. Secretary of state Mike Pompei on n.b.c. Says things really haven't changed a lot here is a long ways to go to get Chairman Kim to live up to the commitment that he made to President Trump and indeed to the demands of the world he says sanctions remain until some kind of agreement can be repaired can be reached in San Francisco I'm Ed Baxter This is Bloomberg Brian thanks very much 8 minutes now past the top of the hour well new tariffs is slated to go into effect in about 4 hours here on Chinese products going into the United States more Chinese terrorists will be slapped on American goods in China at pretty much the same time. And the current from Bloomberg News is with us here in our studios it's very interesting because we have these new tariffs coming in the president has threatened to slap another $267000000000.00 worth of goods to be tariffs and yet the mood really picked up last week I think we're all scratching our head a little bit on that So how do you see things moving here in the coming days I think broadly speaking people are viewing this as a very material deterioration in the trade war between both nations the mood was a little bit better last week because I think the u.s. Went with 10 percent initially rather than 25 percent perhaps leaving a window of opportunity for some convert resolution to be reached although few realistically expect that to happen I think more broadly though the. Trade war has been priced into the market is so much sent really and truly the remains the biggest concern which is the impact on confidence and sentiment on both sides of the economy and if we go past this hurdle today of 10 percent in $200000000000.00 Chinese retaliation do we then move towards 25 percent in January and of course does Mr Trump go with tariffs and maner of the Chinese goods that the u.s. Imposes on China retaliates you so we've had a material iteration but it's still some way to go before it's going to get even more. Yeah there's a lot of unknowns in there we just had that report coming through as well about be beige book saying that produces in China old even before they can say what sort of the speed bombs could be potentially thing from the Chinese economy yeah that's right that's a private sector report warning about an explosion in corporate boring that isn't being captured by official government statistics but like you say there's already been a moderation in China not necessarily linked to trade that's because of the government campaign to get a grip on debt in the economy means they've been trying to slow down the pace of credit and the bank lending but equally though we've now reached a point where you thought these are trying to shift gears a little bit uninsured economy remains on track by pushing a longer deal ever to combine into 100 but making sure those parts of the economy that need cash get well the big. Just unknown of course is if the president does come forward with the $267.00 that how does China respond because it can't go like for like so if they do respond in force with some of these unusual measures that could be could be quite destabilizing but what if they don't and is that maybe weather is a little bit of an opening in the mood where there is a theory I mean let's be clear China can respond with nontariff barriers and they can do all kinds of damage to u.s. Corporations if they want to by canceling orders that right are making just difficult operate in China like you say but that doesn't come at a cost for China's own economy and this is why people think perhaps they're more limited in responding because they still need IP and for no one Areas like a chips and computing and planes for example that they don't yet have them selves so that's what is the feeling perhaps. In some respects in some areas but after that they will look for an negotiated way out of this all right Dana thanks very much appreciate it as usual that is Bloomberg chief Asia economics correspondent joining us live in our studios take a look at the markets we mentioned it is a sort of truncated day of trading today we have the mid autumn festival and a couple of markets are closed actually for markets closed today but we will take a look at what the markets are doing for those that are interested this is good for . These are times when what we know about business and finance can affect the entire world. The full cost of the fat to walk us through the conversation. Here he says leaving the Customs Union is one of the big upsides to he's laid it to Bloomberg daybreak hear a Prime Minister Turnbull site of China's influence tonight on Bloomberg 61 o 3.7 f.m. H.d. To the Bloomberg Radio Bloomberg Radio dot com. 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H.d. 2 business that Bloomberg Radio dot com Bloomberg the world is listening. Bay Area traffic and weather every 15 minutes on Bloomberg 960 I'm Stephen Chun we have problems on the Dumbarton Bridge headed out to new work at least 84 before for a crash up into the bushes shutting down the 2 right lanes a heavy backup starting to form if you're taking They offered at the main branch expect heavy delays from the toll plaza the meeting lights are on and then you're going to be slow and sluggish instructions all the way up into San Francisco southbound Petaluma still seeing that we can return traffic from the redwood highway down to the past had a little Boulevard South northbound 17. Santa Cruz mountains out of the Glenwood Kansas City Chiefs the Giants don't take the win losing 2 to 9 against the St Louis Cardinals with the Bay Area's best graphic I'm Stephen John Bloomberg 960 and 13.7 f.m. H.d. 2. 24 hours a. Sin now think Lebanese. Thursday is the day Dr Christine Ford will testify on the hearing regarding her allegations of sexual assault against a judge Brett Kavanaugh he will testify after she finishes still several issues outstanding such as whether they'll be the only witnesses and just up on the Bloomberg out of New Yorker magazine Senate Democrats are probing a new allegations versus Cavanagh it says China has some of the u.s. Ambassador to China recalled commander Shandon Jan long in regard to the trade war last time this happened was after the deployment of a fad system in South Korea meanwhile South Korean president will deliver. Donald Trump the letter from North Korean leader Kim Jong un in meetings tomorrow on the sidelines of the un General Assembly Japan has successfully landed 2 rovers on the surface of an asteroid u.s. President Trump willing to meet with Iran's president Hassan Rouhani in the u.s. This week the backdrop there Iran's president is accusing an unnamed us allied country in the Persian gulf of being behind a terror attack on the military parade that killed 25 people and wounded 60 Singapore has taken delivery of the Air Bus as a $35900.00 ultra long range airliner it's the 1st flight between Singapore and Newark Liberty on October 11th and we expect Juliette to be on that a well I should ask or you want to come Juliette new or absolutely sure there you go I think Denise you need to set it up for Global News 24 hours a day on air in a tick talk on Twitter powered by more than 2700 journalists an analyst in more than 120 countries in San Francisco I'm Ed Baxter This is Bloomberg. Thank you so much and well of course we are on fade watch this week with amazing said Jordan another interest rate increase expected boondocks Tom Kane in France in the past Peta hapax He's the chief economist at Deutsche Bank Securities if u.s. Economic growth still has legs. The momentum in the economy is impressive the fiscal stimulus is going to last well into next year probably look a little bit beyond financial conditions right now at a level that you know it's at near the high point in time to support those in the equity market take credit spreads I think we're looking for growth continue certainly in a 2 and a half 3 percent range that story next year right it will begin to slow a bit then after that but that's good news because the Fed has to get the unemployment rate back up to avoid an overheating to avoid a recession we think we think they have an a very good chance of achieving for the 1st time ever. Soft landing on employment from below getting back to nature without causing a recession as number good reasons to live. Within the theory in the optics of the history of field here we've had to get back to so that I mean it is phrase in ages that dating myself your friends the soft landing Why is this time different think you. Well take a look at the data going but the modern history of national income income accounts in the us every recession every recession has been proceeded by a down shoot of overshoot of unemployment to the low side unemployment has gone below full full employment below Nehru labor markets overheated inflation started to rise the Fed has tightened that's strictly economy into recession accompanying those downturns usually is the fact that investment in the economy has. Gone too far we have over invested in housing we've over and present and business capital we don't need this time around you'll see it it's been a very gradual slow recovery vacancy rates and how they're near all time lows. We're not you know productivity is very low business and apple growing slowly we're not investing in Peter I just got an email out on Twitter Wood says Peter Tom you and Peter are too old fogies go to frickin see Geez more digitally appropriate frenzy and I am in my head on the line you really Tom I'm not Peter what is the one thing that we misunderstand about the markets I mean we're going through like a 10 year bull run well we'll make a correct Well you know I think there certainly is going to we're starting to hear feel a little pain in emerging market space not not the not a big problem yet but as the Fed being continues this gradual pace or rate hikes Ok I think you will see you're going to see some spillover into equity markets as well from from m. Space that comes probably the latter part of next year as we get up into the 3. In a half percent range on Fed funds you've almost always seen this kind of pain there will be. Along the way here but the good news is that correction allowing the labor market to adjust the navels us to have a relatively soft landing and a continued expansion for many years. That Peter does anything look like it's in a bubble right now well you know my colleague. Even Who is even more bullish when I am about the u.s. And global economy will confess that the valuations in the stock market right now are. On the high side not quite mobile but getting a little bit close and it's Peter Hooper achieve economist at Deutsche Bank Securities The Dow is trading at just under 19 times earnings with the s. And p. 500 $21.00 you can contrast that with the Hang Seng index only trading at 10 and a half times earnings and Juliet if we look at the Shanghai Composite even after a pretty strong rebound last week trading at about 13 times earnings. Today when they see around that to come in I believe that that happened earlier in the year to say. Being fish but yes certainly very interesting the government bonds again off to China on Saturday. To trade talks with the u.s. That you can see that the trade between the world's largest economies the staking coming up here. At the Bank of International Settlements is so blurry. To keep you updated on the markets that are today this is going to. Have in street is that the threshold for low income housing has been bumped to $117400.00 per year we plan to stay right here is local and international business in tech you put in. Gratian project could open a wide range of applications for ideas of fuel cell technology it's Bloomberg 960 n one of 3.7 f.m. H.d. To the Bloomberg business. The world is listening every day 149000 c.f.a. Charter holders worldwide demonstrate that they measure up to the highest standards n y s e. Hi Kevin O'Leary from a.b.c. Shark Tank and chairman of 0 shares e.t.s. Dividend investing has a great history of long term performance to e.t.s. 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The feeling is mutual They are trapped in whether every 15 minutes on Bloomberg 960 I'm Stephen John in this report is sponsored by in a number of problems on the upper deck of the Bay Bridge before Treasure Island the is 8 30 am in Hong Kong and here in Singapore I'm Juliet Sally and I'm Brian Kertesz trading is underway in Sydney and also in New Zealand both markets a little bit lower this morning in New Zealand down 2 thirds of one percent for the next and the a.s.x. 200 trading down about 2 tenths of one percent many many markets closed for holidays today we'll get to the markets in just a moment but for now the top stories of the hour well Secretary of State might pump aoe says the u.s. Will win the trade deal with China pump a with speaking on Fox News Sunday the u.s. And China allies away from a new round of tariffs on each other's goods $200000000000.00 of Chinese products will be subject to tariffs from 12 am Washington time that's noon in Hong Kong and $110000000000.00 of goods from the u.s. Will become subject to Chinese tariffs around the same time China yesterday called off planned tri talks with u.s. Officials Comcast has finally won the bidding war for Sky p.l.c. With a $39000000000.00 offer for Europe's largest satellite broadcaster Bloomberg telecoms reporter Joe Mays says it's a good deal for Comcast as it ups the competition against Netflix. You've got both point out the us the less vulnerable to Asians in the market now 25 percent of the National. Currently in Europe we have an. Average of cable subscription I would have to be in the us. Investors this year have been rattled by Comcast failure to acquire entertainment assets from Fox those assets are going to Disney. One of India's biggest conglomerates is racing to raise capital to default ing on a bunch of its obligations we get more from me in a sense the infrastructure leasing and financial services is now said to be seeking to raise more than $4200000000.00 a memo seen by Bloomberg says it's seeking to sell $25.00 assets and has received investor interest for 14 of them Iowan fs is categorized as a systemically important non-banking financial firm by the Reserve Bank of India its loans are held heavily by other financial institutions and some investors are concerned the problems with the nearly $13000000000.00 of debt it owes could spread to other shadow banks and Asia's the 3rd largest economy in a sense daybreak Asia in the meantime a warning about global borrowing from one of the world's key financial regulators more on that from Bloomberg Susanna Palmer. The Bank for International Settlements is warning distress among indebted borrowers may spread into the wider economy as central banks raise interest rates the B.A.'s says it's not just about the total debt either it says the fact that investors seem less and less concerned about protecting themselves that's also troubling the total of leverage to loans and high yield bonds outstanding in Europe and the u.s. Has doubled to about $2.00 trillion dollars since the financial crisis high yield bonds still account for more than half that tally but growth in lending to risky companies has outpaced sales of those securities and leveraged the loans now account for almost 45 percent of the market Susanna Palmer Bloomberg daybreak Asia and the Hong Kong Dell it has searched the most in 15 years. As has mle in the last session the local currency jumped as much as 6 tenths of one percent to $7.79 per greenback even the experts have puzzled about Burra because here have been there during the gap with us rates that makes shorting the local currency less appealing the Fed meets this week and that might be a trigger thanks to the current Soup a call girl has little choice but to import u.s. Monetary policy but even so you heard comments like this to me all the D.B.'s saying the sudden surge in the whole goal is very strange unwinding of short carry trade triggered stop losses and a stampede you know go along with the daybreak Asia Well as I've been saying several markets are closed today so it up and running now is only the New Zealand and Australia and markets and as you can expect we'll see a little bit of pressure ahead of the new round of tariffs coming in in just under 4 hours time they end at x. 50 is off by 6 tenths of one percent as surely as a a $6.00 to $100.00 is down by a 10th of one percent we have been saying at a little bit of pressure coming through in these commodity currencies as well the Aussie dollar currently down by about 10 tenth's of one percent 72 spot 7 and a strategy is government bonds. Being gaining these of course off to China on Saturday called off those planned trade talks with the u.s. Just really fanning concern that the trade will between the world's 2 largest economies is deepening if we have a look at commodities you're seeing some good buying coming 3 in the oil market today of course we've got the I think maybe an Brant crude is up by 1.2 percent 79 dollars 73 crude up by over one percent at $71.53 and having a look at some of the other currency markets we mentioned that strength in the Hong Kong dolla but still some weakness coming through an a.t.m. Simulation ringgit off by another 10th of one percent in the last trade at full spot 1343 not much economic data out today but we will get c.p.i. Fool seeing a pool later in the afternoon expected to come in at 2 point one percent year on year full of the month of August that is a quick check of the markets Brian All right thanks very much Julian let's get to news now the schedule has been set for Dr Christine glossy forward to testify before the Senate is before the Senate Judiciary Committee there in a doctor's tracking that story and all the rest of the Bloomberg 960 News Room Yeah right Brian Thursday for both Dr forward followed by Judge Brad Cavanagh her attorney saying that Dr Ford wants to be her Democratic congresswoman on the issue has helped guide the process of Dr Ford's letter through the system on c.b.s. She says Dr Forward understands the danger individuals are terrified this is one of the highest unreported crimes in our country so she understood the risks and the consequences and Republican Senator Lindsey Graham on Fox says he doesn't think it will make any difference go ahead and ruin this guy's life based on an accusation I don't know when it happened I don't know where it happened and everybody named and regard to being there said it didn't happen I'm just been honest unless there's something more no I'm not going to rule and Judge Kavanagh is life over this well there may be something more I've been reporting to you a New Yorker report that's been up on the Bloomberg. Terminal and just got what we call a right through a 2nd woman that Howard told has stepped forward with an accusation of sexual misconduct by a judge Kavanaugh excuse me this time during his college years at Yale University the magazine says Senate Democrats who brought to light the claims of Dr Ford. Against the president speak for the nation's top court are investigating an incident reported by Deborah Romero as a former Yale student South Korea's president will deliver a letter from North Korea's Kim Jong un to u.s. President Donald Trump tomorrow that along with briefing of their meeting u.s. Secretary of state Mike Pompei o says negotiations continue behind the scenes but our team is fully engaged in this are lots of conversations taking place there's lots of work being done it isn't all visible to the public but we are fully engaged in the process we understand the objective and economic sanctions will remain in place until we get there now a President Trump has released a video a preview of some of his thoughts about giving the speech for the u.n. General Assembly this week and I've always said the United Nations has tremendous potential but it has not lived up to that potential He says Having said that he good things can happen so his speech this week Iran u.s. Ambassador the u.n. Nikki Haley refuting Iran's claim that the u.s. May have had a part in the deadly attack in the military parade Iran for economy has plummeted because the president pulled out of the gale they're getting desperate and I think more single action that you know Haley on c.n.n. And again New Yorker reporting now a 2nd woman has stepped forward with the accusation of sexual misconduct by Supreme Court nominee Brett Kavanaugh Global News 24 hours a day on air in a tick talk on Twitter powered by more than 2700 journalists and analysts to more than 120 countries in San Francisco I'm Ed Baxter This is Bloomberg Brian All right Ed thank you very much the time 22 minutes before the top of the hour time for Global. Pages here and living with the golf Donna thanks Brian Tiger Woods earned his 1st p.g.a. Tour victory in 5 years by winning a season ending p.g.a. Tour Championship. Shots ahead of build for his career Justin Dolphins down the Raiders $2820.00. 13 New Orleans edged Atlanta 4337 in overtime Philadelphia beat Indianapolis 2016 the Lions lead the Patriots 3 nothing in the 1st quarter of the Sunday night game in Major League Baseball Baltimore beat the New York Yankees 63 to avoid the sweet but New York clinched a wildcard berth with Saturday night's 11th inning win over Baltimore. And met snipped the Nationals 86 the cardinals clobbered the San Francisco Giants 90 to sweep the series and hand the Giants their 4th straight loss the Red Sox lead the Indians to one in the 4th in 10 as Topsy dominant team won the St Petersburg by beating Martin Clunes on in straight sets in a final it's teams' 3rd title of the season and on a page that Bloomberg n.b.c. World sports update Juliet All right thanks so much Donna coming up. Don't end on the man whose job it is to turn to President Trump's trade bluster into reality he has a very interesting case on the Bloomberg. All About It will also keep you updated on big fee markets that are rife and today this is going but I've. A little business day begins when the booms on what happens overnight daybreak Europe I'm okas calls and pressure was tiresome China come into effect we bring you the market reaction after a weekend meeting of OPEC and policy also dig into crude plus preview a string of European budget our guests including Best expenditure Limburg daybreak Europe deny the 10 on the Bloomberg $1.61 a pre-born 7 of m.h.d. To the Bloomberg business up and Bloomberg Radio down to earth the world is listening. You're with your baby girl practicing your mama. And now she looks up and begins to mouth her very 1st words you can feel that this is the moment you've been waiting for time to get down to your authorized Mercedes-Benz dealer and test drive the Mercedes-Benz g l e an s.u.v. With the power and capability to handle anything with confidence and active safety features to keep your family safe that's a smart smart. Lease the 2000 a.t.g. Only 350 for partner not a month for 36 months with 5000 particularly good siding or 6 perhaps the best or read the margin trading disclosure and ib k.-r. Dot com showdown in Motown I'm Jeff Nathan son Sunday Night Football on n.b.c. Is on the air just under way the Patriots in the Lions 1st quarter indoors in Detroit Tom Brady at quarterback for New England against Matt Stafford and the Detroit Lions just scored not playing this game quite yet for New England on the scoreboard Seahawks beat the Cowboys 2413 Chris Carson over 100 yards rushing in a score for Seattle the Bears beat the Cardinals 16 to 14 so Arizona now in 3 Josh Rosen made his season debut at quarterback but sputtered late in this game Gerry Goffin 3 touchdown passes Rams beat the Chargers 3523 mean golf at East Lake Country Club Tiger Woods a 2 shot win at the 2 or championship it is his 80th career win and 1st in over 5 years Jeff Nathan's on n.b.c. Sports radio. Hey. 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Adopt us kids presents multiple choice when the president is on disability a major injury crash off into the huge bomb pushes there you'll see the brake lights at 14. Southbound 80 through San Lorenzo a possible crash as you're nearing 238 upper deck of the Bay Bridge flows after the island all the way back into San Francisco southbound Petaluma still seeing the traffic I'm Stephen John Bloomberg 91613.7 f.m. H.d. 2. These. Markets every 15 minutes Well a slow day likely today. China. The United States the trade between the 2. And also the Fed meets this week. See whether the rallies from last week in emerging markets. Carry through this week. To. China and South Korea treasuries. Futures on s. And p. $500.00. Down. 7152 in the last. 2 thirds of one percent right now we see the. Dollar has strengthened again. A little bit stronger than 70. 5 against the huge 0.6 percent move on Friday and we have been reporting even. On that for you today. To the news desk. Today. As the day that. Will test. 5 at the hearing regarding her allegations of sexual assault against Judge Brett Kavanaugh he will testify after she finishes still several issues outstanding such as whether there will be they will be the only witnesses now report out today actually 2 of them New Yorker is reporting that a 2nd woman has stepped forward with an accusation of sexual misconduct Deborah Ramirez says while at Yale when Cavanagh was a freshman he exposed himself to her during a drunken dormitory party Cavanagh has responded It did not happen then separately attorney Michael of a not a the attorney representing Stormy Daniels says he is now representing a woman with credible information regarding Judge Kavanaugh that's all his statement says he does not say whether this could be a 3rd possible victim China has some in the u.s. Ambassador to China and recalled commander Shannon laws in regard to the trade war the last time this happened was after the deployment of the fad system in South Korea South Korean president j. And will deliver to Donald Trump the letter from North Korean leader Kim Jong un in meetings tomorrow on the sidelines of the un General Assembly and Japan has successfully landed 2 rovers on the surface of an asteroid Global News 24 hours a day on air in a tick talk on Twitter powered by more than 2700 journalists and analysts to more than 120 countries in San Francisco I'm at Baxter This is member Juliet All right thank you so much Ed Well we have Linda it's show and done with us he has a story out in plain bad business week about u.s. Trade representative Robert light has a and how he said one whose job it is to 10 president trumps trade bluster into reality show and joins us now show and that light has or is it a long term China who has any Tell us about you story yeah no Robert I think is a really interesting figure is someone who's been known in the trade community here in. Washington for for decades. But it's always been a behind the scenes player he was a deputy u.s. Trade representative in the Reagan administration before that served on the the Senate Finance Committee where he was a key aide to Bob Dole who the future presidential candidate who then this is in the late 1970 s. Was was chairing the Senate Finance Committee and been a key figure in trade Bob light has went on to make a fortune representing the steel industry here in the u.s. Is a prominent and Porsche driving lawyer but he really for the last couple of decades has had a real obsession and that is China and how the u.s. Has. In his mind been played by China when it comes to trade and he so he is the man now kind of wielding the tariffs if you will in this in this trade war and he's someone who's preparing for that battle for years white eyes or has. Been and Wilbur Ross to a certain degree and also the biggest ally of all is President Jiang because President Trump is very much in allied hisor camp. Absolutely and then which is a key difference between Bob light hisor and Peter Navarro him and Wilbur Ross they all sort of share this kind of economic nationalist bads if you will but Bob light hands were kind of knows what the levers are to pull in the buttons are to push and I think he's really gained Donald Trump's confidence as a result of that he's kind of you know he's you someone who can deliver the Trump is this kind of instinctual view about trade and and about China and Bob White hisor knows how to kind of deliver what Donald Trump wants what do you think in your research on him that he's done to date is different to what we saw Wilbur Ross and statement nation I guess so much filed today yeah so I mean it did as it does there's 2 important points about Bob White House or the 1st is that he is far more comfortable out. The spotlight is incredibly media shy he's not someone who has put himself out there. As a face of the trade wars for the administration in the way that Wilbur Ross and and Stephen minutiae have and that's something the president encourages among his generals but it's also something that that we've seen make some of those generals want but the 1st thing the 2nd thing is bubble eyes are is playing a much longer game than than than Wilbur Ross and Stephen Minish and have both Wilbur Ross last year was kind of overseeing the the 1st round of trade negotiations with China the came after the Mar-A Lago summit if you remember that in the spring of 2017 and then they were working on a 100 day plan that was built around the big purchases of soybeans and energy that were aimed at kind of very quickly reducing the the trade deficit Stephen minutiae likewise has been looking for some kind of short term solution Bob lay ties or really is is someone who is playing a longer term game looking for long term structural changes in the Chinese economy someone who'd like to see things like the Made in China 2025 policy this kind of industrial policy that see China lead the world in areas like robotics an artificial intelligence really on wound he's he's going after the intellectual property regime in China so I'm very different approach Robert lighthouses are really knows trade much we know the president well his are moral as you say just sort of instinctual ruminations because one would sense that Robert lied hisor knows that Americans don't want to operate blast furnaces anymore and that manufacturing won't go back to the u.s. But the president seems to think that the it will that kind of manufacturing will one day be restored to the greatness of the American heartland Yeah I mean it's interesting I mean and it's a way I don't have it in my piece but Bob light has was. And father actually worked in steel mills and he grew up in in Ohio place called Master below Ohio just outside of Cleveland his father was a doctor. And it you know he had of his is distinctly middle class upbringing but in talking to his brother Jim White hisor you made the point that they grew up playing with blue collar boys fellow blue car boys and that that is the kind of those are the people he is most comfortable with which is something that if you think about Donald Trump in and what he shares or you know what is his politics and or his political genius and 2016 was an appealing to to the to the blue collar vote that would have been the kind of strong Democratic vote so that's something that they share but one very different vision that they have is is. Bob lionize or has of it when he talks about the battle with China now he's talking about the u.s. Economic future and he's talking about protecting the kind of technological crown drools from from China and that's really the battle if you look at the the tariff battle now when you get away from the kind of the public bluster and you look down to what it's about it's about intellectual property it's about hacking and cyber theft it's about industrial policy and that's really where Bob lighthouses are thinks that he can kind of protect the future of both the u.s. Economy and what he was speaking to his brother as you were talking at Jim light has a city that he believes strongly the end game is China but what else is he doing behind the scenes I guess in some of those negotiations with Mexico with Canada with the European Union Yeah so the bottom line Tiger is leading the negotiations with the e.u. Now he's leading the negotiations with Japan both of those are trying to at that the stage where they are talks about talks right now rather than. Substantive negotiations but the most important goshi. That that he's leading right now reserves for NAFTA the North American Free Trade Agreement and we really are in potentially the kind of crunch period of negotiations with Canada over saving lives to shoot straight agreement they've already got to deal with Mexico the public areas were negotiated over the summer so he's at the middle of really all of the important elements of trade policy and that's something that wasn't necessarily the case a year ago. Fascinating stuff and of course you can find a story on the blame that it's blame bags show on Don until he about from a lot higher than the tough negotiator attending Trump's trade blasting into reality Well of course as we've been mentioning we have got several markets closed today Hong Kong will be out about action tomorrow as well so at the moment it is looking pretty s. The g 8 but we have 2 markets I've been that is New Zealand and Australia and they are bike in the bread of course as we place these new tasks coming into effect at midday Hong Kong time that is need not Washington time they are expecting to say that retaliation from China coming to a fixed right away as well the 1st place. They are in traffic and whether every 15 minutes on Bloomberg 960 I'm Stephen John and this report is sponsored by n n l burger. Metering lights are on of the Bay Bridge you're going to see the brake lines once you reach the island all the way into San Francisco southbound Golden Gate Bridge stacks up from Sausalito all the way to the vista point southbound Petaluma still having you from old redwood highway down to Petaluma Boulevard south if you're taking southbound 80 we're seeing the brake lights from 238 all the way down to industrial park lanes southbound one the Minnesota Twins with the Bay Area's best traffic I'm Stephen John Bloomberg 960 and 13.7 f.m. 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