side no trade war and brics it worries for economists the signs are clear germany is heading towards a recession overall industrial output in june this year was down one and a half percent compared to made that was a far bigger drop than analysts had been forecasting compared to june of last year it was an even greater fall 5.2 percent the biggest decline since the financial crisis broke a decade ago industrial output is expected to drop further in the next 3 months. the trade spat between the u.s. and china is only getting worse but some reprieve on the economic front as beijing pulled this out of its hat chinese exports rose 3 and a 3rd percent last month on the same month last year analysts had predicted a full given the trade war but china s imports from the us did decline 1000 percent year on year and china is no longer america s top trading partner it s now below
is heading towards a recession overall industrial output in june this year was down one and a half percent compared to money that was a far bigger drop than analysts had been forecasting compared to june of last year it was an even greater fall 5.2 percent the biggest decline since the financial crisis broke a decade ago industrial output is expected to drop food in the next 3 months. the trade spat between the u.s. and china is only getting worse but some reprieve on the economic front as beijing pulled this out of its chinese exports rose 3 and a 3rd percent last month on the same month last year analysts had predicted a fall given the trade war but china s imports from the u.s. did decline 19 percent year on year and china is no longer america s top trading partner it s now below mexico and canada. our financial correspondent
was intended to protect the national interests of turkey. the s-400 is one of the most sophisticated surface-to-air missiles in the world and the turks say they need it. obviously there are big implications of this. turkey is a major nato ally. they could, for instance, get the russians through the deployment some sensitive data about the most high tech weaponry the u.s. has been planning to sell to turkey as well. it opens a much needed question. it questions the commitment, the all-important nato western military alliance. there are concerns that this could lead to a diplomatic spat, possibly a trade spat between washington and the turks and that could further deepen the split in that important key western alliance.
you ll kind of see that happen when the markets re-open because people feel the trade spat s not going to get worse. long-term, does it give away some leverage that the united states has had? the u.s. has kind of fished around for something to sort of hold in a way to hold china s feet to the fire, tariffs are one of those, the huawei conflict is another. but the u.s. now is kind of giving that one up and you re hearing in congress perhaps efforts by some legislators to make it law to prevent the sale of some of these goods to huawei because they re very much concerned about the country, the company. arthel: is it possible that president xi of china is sort of watching what happens here in america with the election and perhaps they re just sort of pushing the goal-moving the goal post, trying to out-wait, wait out, i should say, president trump to see if he will be reelected? i think that s a very
make his way to the dmz. whether or not he ends up meeting with kim jong un is still anybody s guess. i ll be here for you all the same. for now, back to you. eric: we ll see what happens, if he meets him and if he, as he said, could step over the border, would be very historic. arthel: for more on the u.s./china trade talks, let s bring in john busy, the associate editor for the wall street journal and fox news contributor. nice to have you here. pleasure. arthel: let s start with why president trump came to this decision to provide relief for american farmers, is it negotiating strategic move? political pressure? or because beijing said no more trade talks without the huawei reprieve? i think it s a bit of all of that, isn t it? he s dealing with farmers who are according to his constituency are in states that are core to his election prospects and they ve been hurt by the trade negotiations, by the trade spat, because china