those are major businesses from the u.s. to china. you had in 2016 $14 billion worth of u.s. soybeans. and roughly $14 billion worth of u.s. aircraft. the trump administration says it needs these tariffs to protect against alleged intellectual property theft and forced technology transfer. the vice minister of commerce in china was asked about that. those allegations. and his response was fake news. he says china doesn t do that. all right. thanks. remember the president said trade wars are good and easy to win. it appears wall street disagrees. dow futures are down more than 400 points. investors worry this could spark a trade war, a devastating event for u.s. consumers and companies. the white house is targeting 1,300 chinese items, aerospace, tech, and manufacturing. it contains unexpected products like flame throwers, medical supplies such as malaria test
tariffs on $50 billion worth of chinese goods going to the u.s. now, the chinese have the made it clear that they are still bargain, that they have not yet imposed these tariffs and that now is the time to negotiate and to cooperate. the trump administration mass arg has argued that its latest proposal for tariffs are a response to allegations of intellectual property theft by china against u.s. firms that have invested in china. chinese officials were asked about that in beijing today about that and the vice minister of commerce responded to that accusation calling it fake news saying china does not steal intellectual property. china says that it will take this matter to the world trade organization for dispute resolution. meanwhile president trump has tweeted that the u.s. is not in a trade war with china, that
mincing words like yourself, with one saying it s the most dangerous accord in history. what impact is it having with our allies at the moment? well, among our european allies it s mixed because european businessmen just want to do business with iran. within five days of the accord being agreed, the basically the equivalent of the minister of commerce, the department of commerce chief here in the united states, flew from germany, flew to tehran with a plane load of europe businessmen. another thing that obama is dishonest about, if the iranians violate it, there will be a snapback of sanctions. no, there will not. the horses are out of the burning barn. it s over. we are utterly screwed. it s a shame. it s a disgrace that we re playing politics with this. this is not about politics left or right, it s about our security. i want to speaking about
they can t lift the state of emergency because there are 17,000 prisoners. the formernterior ministry is being investigated for intentionally letting those prisoners out to foment crisis and chaos, so now they re using something someone in their government did as another fake reason as to why they can t list the emergency. it s kind of orwellian. don t you love this parallel world they live in? i know several of them. i know the editor in chief of the leading paper. and so many of them. if i were in this regime, i would be very careful because this regime is beginning to feeds its own to the crowd. it s beginning to throw them over the wall. it s beginning to make concessions and in making concessions, it s begun to prosecute former ministers. the former head of the national democratic party. the minister of commerce, the minister of tourism, the minister of interior. so i think maybe this regime is cracking, maybe that immovable
something you said right in the beginning of this, fouad, which is extraordinary and i didn t think about it until just now. so the foreign minister says they can t lift the state of emergency because there are 17,000 prisoners. the former interior ministry is being investigated for intentionally letting those prisoners out to foment crisis and chaos, so now they re using something someone in their government did as another fake reason as to why they can t list the emergency. it s kind of orwellian. don t you love this parallel world they live in? i know several of them. i know the editor in chief of the leading paper. and so many of them. if i were in this regime, i would be very careful because this regime is beginning to feeds its own to the crowd. it s beginning to throw them over the wall. it s beginning to make concessions and in making concessions, it s begun to prosecute former ministers. the former head of the national democratic party. the minister of commerce, the minister