chinese import tariffs on cars coming off their u.s. assembly lines so where does the balance lie for european businesses in the u.s. net positive or negative that may depend on the company itself. and earlier my colleague ben fizzling talked with new jersey governor and phil murphy who s here in germany trying to drum up trade for his state he told us not to lose hope and trade with the u.s. despite the current storm warnings. again there s a lot of volatility in washington the i m a democrat i m a proud democrat but i m an american i think there s too much volatility right now how is that affecting business as you ve been talking to you think the folks are sort of questioning what s going on with cherubs and trade policy and sanctions and should i be rethinking my advice to them is no i m an optimist this too will pass. for a long time the portuguese city of port of door has been sleeping in the shadow of
tariff time. u.s. and china are gearing up for the next trade battle. beijing says it won t take the first shot. at midnight tonight the u.s. will hit china with $34 billion in tariffs. china vous to react. hitting the u.s. with equal value. beige something 12 time zones ahead the washington. meaning midnight there is noon in d.c. today chinese officials said they won t start a trade war so beijing has to wait 12 hours to put the tariffs into effect. the finance ministry writes we will not fire the first shot. the u.s. and china called a brief trade truce, remember in may after several rounds of talks. but since then the trump administration ramped up trade actions against china, a punishment for stealing tech and trade secrets. the u.s. tariffs target the high-tech industries china vows to dominate aerospace. autos. china plans it hit exports, crude, oil, cash crops and
the next trade battle but beijing won t fire the first shot. the u.s. will hit china with tariffs on $34 billion worth of goods and china will hit the u.s. with equal value. beijing will wait 12 hours to put it s tariffs into effect. the finance ministry writes we will absolutely not fire the first shot. the u.s. and china called a brief trade truce in may after several rounds of talks. since then the administration ramped up trade actions against tire. punishment for stealing tech and trade secrets. china plans to hit high value american exports, cars, crude oil, and cash crops like soybeans. those farm goods are strategic in states that voted for president trump. the captain of a ferry that
i think we think about the complexity of this, is not just one against another it s really about thglobal system. the global staty. up trade we ve seen over many decades. being thrown into enormous uncertainty. american workers face tariffs and local trade pacts. it threw them out of work. they blame that. what would you say to them who think that we have actually been very deeply hurt the global economic system? it is a very complicated ã it is a complicated story. united steelworkers came out and said, tariffs and canada are step too far. so you have the pocket of workers, you re exactly delivering the message you are talking about. now saying, canada is an ally. the complexity is little more than in the debated public eye. the prime minister had some sharp words about the tariffs
we didn t want to get involved in tpp. guess who loves that? xi jinping. china loves it. china is saying, keep on trekking. they didn t have to push america out of the way. america walked out of the way. remember, when xi jinping went to mar-a-lago, we were supposed to investigate for 100 days, wilbur ross and china, about opening up trade. the only thing that happened at the end of the 100 days, we re sending over a bit more beef. yeah. besides that, where is the real beef? the united states is also sending a message to north korea. it s got an incredible, incredible show of military force. right now, three u.s. navy aircraft carriers are taking part in joint exercises off the korean peninsula. it is the first time in a decade these enormous ships have sailed together. nbc s matt bradley has the details. reporter: we ve been watching these f-18s flying by, taking off and landing all day.