cluster bombs. as president biden heads overseas to shore up support for ukraine, he says the u.s. will send them a controversial weapon. it was a very difficult decision on my part. but is it the right one? i ll ask house foreign affairs committee michael mccall and the only house member who voted against the afghanistan war, democratic congresswoman barbara lee next. party of one. republicans set a date for the iowa caucuses where donald trump s rivals are trying to gain steam while he zeros in on his closest opponent. he s got no personality. does ron desantis have a plan to turn things around? he is the man to do it. my panel will discuss ahead. plus mercury rising, a record breaking heat wave blankets the globe. janet yellen pushes china on climate. we have the duty to cooperate. is any country doing enough to stop the climate threat? hello. i m jake tapper in washington where the state of our union is wondering about long-term consequences just
the price of oil on international markets is not high enough for them. oil and energy leaders are gathering again today in vienna for the latest opec summit. the biggest and most powerful player saudi arabia started this week with the news it s extending its voluntary output cut of1 million barrels per day to august. russia is making a similar move. but these cuts are failing to boost energy prices. why? jonathan robinsonjoins me now to explain he is global power & energy research director at frost and sullivan. just talk us through our oil is at the moment. just talk us through our oil is at the moment. oil, despite the cuts in production, at the moment. oil, despite the cuts in production, oil at the moment. oil, despite the cuts in production, oil prices- cuts in production, oil prices have stayed relatively low in what we have seen historically in the past year, 1.5 years. there are a few specific reasons for that. chinese demand, industrial out would, increasing
this is the first time a us treasury secretary has visited china since the covid pandemic and this is the environment they find themselves in. for example, trade restrictions. one point of contention is over rare earth metals, essential components to make semiconductor those which are used in everything from smart phones to military equipment. earlier this week beijing said it will require a special license to obtain two metals predominantly mined in china stopping this move has seen a retaliation against export bands put in place by the united states of critical technology needed for artificial intelligence and quantum computing. both sides argue that these bands are neededin argue that these bands are needed in the interest of national security. another issueis national security. another issue is the weakening yuan. china s currency has lost nearly 5% of its value against the us dollar over the past year which makes chinese exports more competitive on the global market. the
seeking a winner take all competition and that both countries should not let any disagreement hurt economic ties. tensions have flared over washington s efforts to limit chinese access to advanced computer chips. just this week, beijing tightened export restrictions on two rare minerals both used in the chip industry, but speaking earlier today janet yellen insisted the two economies must remain closely interlinked. i ve made clear that the united states does not seek a wholesale separation of our economies. we seek to diversify and not to decouple. a decoupling of the world s two largest economies would be destabilizing for the global economy, and it would be virtually impossible to undertake. i also made clear that actions we take to protect our national security are designed to be narrowly targeted and that they are premised on straightforward national security considerations, they re are not undertaken to gain economic advantage over china. we are joinded now by alici
a stark difference from antony blinken. she s back at her hotel and followed a dinner with the chinese central bank. this is the most busy day that the secretary had in beijing today which culminated with china s new vice-premier. it was supposed to last for three hours and went more than five hours. in the opening remarks, the secretary pointed to a record number of bilateral trade for the reason for not decoupling and added this. i also believe that the united states and china should seek a relationship of healthy economic competition that is not winner take all, but with a fair set of rules would benefit both. and the trade deficit heavily favors china. the readout from the secretary says that she raised concerns and it was a candid, constructed and comprehensive meeting. the new vice-premier took appointed approach in the beginning of the meeting and even mentioning quotes some airships happened causing difficulty in the relationship. authorized by president xi jinp