This is sort of a tit for tat because President Trump put it terrifying china there are matching that tariff and again on december 15th theyre going to increase the tariff on foods and goods we have to keep in mind as we are right on the cusp of the g. 7 and theres already weve already been told today that theres going to be meetings there with our people in china so were expecting that maybe this is sort of chinas way of saying were not going to back down because President Trump is not backing down and this is a good starting point and were going to see that happening right away. I think by the time monday rolls around just like last monday we may see the market turn around so for everything we lost last friday at this time we were talking about it we may regain on monday that were not 100 percent sure but it does say that china is not willing to back down and maybe we can find some happy medium because right now china was taking advantage of us for the longest time and finally we wer
Standoff stands. A busy market rally with stocks jumping on the president s comments saying china wants to get back to the table on trade. Well see where we go. From here, we go to blake burman, with the latest on all the back and forth at the white house. Hi, blake . Reporter we heard from President Trump for a while, he feels china wants to make a deal. They need to make a deal very badly. He reiterated that earlier today. The market swung earlier today when the president said that china called over the weekend and said they wanted to get back to the negotiating table. Heres the issue with that. When chinas foreign minister was asked about these calls that were made. They disputed the notion there were any sort of calls being made. When, at least over the weekend. When the treasury secretary Steve Mnuchin was asked about it earlier today, sitting alongside the president he jumped in said there had been quote communication through intermediaries. President trump was asked about that a
Also taking comments from top fed president. Trade turmoil, white house economic adviser larry kudlow signaling new in person trade talks with china and ecommerce on alert a new porch pirate threat that could have Online Shoppers running to protect their picnic baskets. Its friday, august 23rd and Worldwide Exchange begins right now. He faces one of the most divided Central Banks we have seen in ten years. Those comments are due out at 10 00 a. M. And well take you there live on cnbc those comments will be the ones traders pay the most attention to today now the stock futures indicating a higher open. The bond market always a focus right now and the ten year note yield below 1. 65 and the two year note yield 1. 64 . Checking that spread, as you can see here were moving and were pretty much flat at this stage watching that level here, its not inverted but its goingbac and forth between positive and negative well keep an eye on that. Lets go worldwide in the asian trade, to close out the
By the latest move automobiles we are fortunate to be joined by the car coach lauren fix welcome back lauren and 1st lets just get into the details of this move with regard to autos what will be the new tariff level on u. S. Cars and when will it kick in ok september 1st is going to be the 1st tariff level this is sort of a tit for tat because President Trump put it terrifying china there are matching that tariff and again on december 15th theyre going to increase the tariff on foods and goods we have to keep in mind as we are right on the cusp of the g. 7 and theres already weve already been told today that theres going to be meetings there with our people in china so were expecting that maybe this is sort of chinas way of saying were not going to back down because President Trump is not backing down and this is a good starting point and were going to see that happening right away. I think by the time monday rolls around just like last monday we may see the market turn around so for e
Foods and goods we have to keep in mind as we are right on the cusp of the g. 7 and theres already weve already been told today that theres going to be meetings there with our people in china so were expecting that maybe this is sort of chinas way of saying were not going to back down because President Trump is not backing down and this is a good starting point and were going to see that happening right away. I think by the time monday rolls around just like last monday we may see the market turn around so for everything we lost last friday at this time we were talking about it we may read again on monday that were not 100 percent sure but it does say that china is not willing to back down and maybe we can find some happy medium because right now china was taking advantage of us for the longest time and finally we were able to stand up to them so lets see how this unfolds right and the timing certainly does seem to be strategic making this move on the edge of the g 7 and the sinking of