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 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 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 the dates of their fact with those announced by the u. S. Tariffs on september 1st and december 15th but how does this break down in terms of the distribution of losses and gains here for specific companies and perhaps sectors and countries. Well you have to remember on the Auto Industry if theyre sending vehicles over and they send along all over by september 1st theyre number one selling vehicle theyre importing are theyre building there is a b. M. W. X 5 followed by the Mercedes Benz s. U. V. S and then beyond that were looking at jeep and lincoln big seller for the m k c in the Ford Explorer its interesting a lot of s. U. V. S are sold there so whatever is being built there is partially owned by a Chinese Car Company so the be a tariff thats after september 1st if we dont have a deal by them my guess is that september 1st deadline was put there for a reason and that g 7 once its all resolved im hoping that we will come up with some amicable deal that both countries will be able to have a walk away shaking hands and smiling we can only hope but in the impact of the Auto Industry is going to have to get suppliers elsewhere that does not turn around quickly if youre going to change a supplier for anything to change supplier takes weeks and weeks and weeks in order to make sure that youre getting the exact same product so i see i dont think were going to see a difference in prices of 2 consumers on the lot i think youre going to see an impact possibly to the bottom line of some suppliers and some manufacturers and you alluded there to the reaction or the mindset within the Car Community and you certainly have an inside line there do you see or hear any indications of automakers may perhaps mobilize to call for some sensible resolution of this as we have seen some sectors in Corporate Leaders do if tentatively out of fear of how mr trowbridge might react. Well President Trump did have General Motors and a couple of their manufacturers in the white house last week and earlier this week and discussing not just climate and whats going on with california but also this tariff so im sure that the conversation is going on the only company thats really going to get hurt the most is tesla theyre not building cars or theyre importing cars and i dont think a lot of musk has got an open conversation with President Trump so i dont know if every manufacturer is going to be able to put that much pressure on him to make a deal. China right and circling back to the u. S. And updating the story weve discussed before of a revolt by states in defense of mileage and clear air standards we covered that previously for major automakers sided with the states led by california on their side of the debate and against President Trump on tuesday California Governor Gavin Newsom said more cities bens would join this coalition as well as a 6th company he declined to name the New York Times cited 2 sources busy it recedes to confirm that claim as well as executives at this rumored but not named 6th company if both of those busy were to come on board b. M. W. In this Mystery Company they would represent a reported collective 40 percent of the u. S. Market share so are we seeing the trump sort of negotiation a management style turn out to be about as effective in this negotiation as it has been in managing foreign trade. I dont think thats going to be the case 40 percent of the auto manufacturers is not going to cause President Trump to make a change the everythings in the works for the changes in mid september were going to see a release of the new regulations those will be the regulations that he expects to go into play hes going to fight california theres going to be one regulation for the whole country california should not be calling the shots for the other 49. 00 states thats the way its written in our constitution that is a huge problem when one state calls for everyone else which basically means somewhere around 3000. 00 someone in kentucky is paying 3000. 00 more than everybody else because theyre paying for the california regulation manufacturers are very frustrated they planned well in advance to produce cars to meet multiple regulations and so whats probably going to come down and this is how i would almost guarantee its going to come down theyre going to put the regulations out in september someone in the 9th district in california is going to say its illegal its going to get tied up in the courts if President Trump gets reelected hes going to win because thats the way it is one state cannot call the shots for the other 49 however if hes no longer the president and somebody else is in office that could cause california to win which would make them even more power for because their goal is to get rid of all fossil fuels and thats not really possible because fossil fuels are in everything because these Petro Chemicals to make plastics and they use it in processing even glass so its not its theres no way this is going to happen excellent insight or insights as always from lauren fix the car coach thanks for joining us. Thank you. And President Trump is lobbing firecrackers at a major trade partner just as World Leaders prepare to gather for the g. 7 world summit of the Worlds Largest economies ahead of that summit french president emanuel necron post spoke in favor of adding the Climate Crisis and the devastating human set fires ravaging the amazon rain forest to the Meeting Agenda even worse for president jr balsam morrow of brazil president macron said he would block the European Unions trade deal with brazil and the other 3 nations of south americas mercosur trading bloc over reneging on promises to protect the amazon a spokesperson for mr mccracken told the media the president can only conclude president wilson r. O. Lied to him at the isaak a summit in france has been a center of growing opposition among european farmers to the deal as well as ireland their irish taisha leo varda car took a slide similar to mr mccrone in a statement that said quote there is no way that ireland will vote for the e. U. Mercosur trade agreement if brazil does not honor its environmental commitment. And Federal Reserve chairman Jerome Powell said friday that the u. S. Central bank is quote carefully watching developments in the economy adding that the fed would quote act as appropriate to sustain economic expansion the fed chairman acknowledge that terrorists do to the ongoing trade work causing a slowing growth for the u. S. Economy saying while Monetary Policy is a powerful tool that works to support Consumer SpendingBusiness Investment and Public Confidence it cannot provide a settled rule book for International Trade we can however try to look through what may be passing events focus on how trade developments are affecting the outlook and adjust our policy to promote our objectives while the fed announced a 25 basis point cut at the end of july the 1st reduction in more than a decade mr powell has yet to commit to another cut u. S. President donald trump was quick to respond to the comments on twitter saying as usual the fed did nothing is incredible that they can speak without knowing. Or asking what i am doing which will be announced shortly we have a very strong dollar and a very weak fed i will work brilliantly with both and the us will do great following asking who is a bigger enemy to the us jay powell or chinese president xi jinping. Its sign for our weekly global stock market round up starting in moscow with the mo x. In russia that exchange is up for the week even though like many markets it took a significant fall on friday more than half a percent interesting that marks itself also released its 2nd quarter Earnings Report on friday recording an increase of net income of 21. 3 percent and delivering record levels and Commission Income in shanghai the Shanghai Stock Exchange also registered a net gain this week despite ongoing protests in hong kong meanwhile the new tech focused index of the shanghai market the stock market seems to be stabilizing after a month of operations with big gains right off the bat and then a 10 percent drop in their 3rd trading week in hong kong the hang seng index for the week also despite a fall a point 8 percent on thursday widely attributed to the purchase it persistent protest movement in japan the nikkei 225 the next also up for the week keeping the regional trend going and posting a strong gain a point 4 percent to close the trading week on friday moving from east asia to south asia the sensex index in mumbai breaks the regional trend posting a red arrow for this week a 1. 4 percent drop on thursday also falling on friday making a run of 4 down days in a row to end the week in australia. For the week after a panicked 63000000000 dollars sell off last week interesting pattern over the week bouncing back from the sell off until stumbling on wednesday but still netting a green arrow by friday moving to africa and all shares that exchange is down for the week notably a board member of the troubled South AfricanElectric Company ask warned earlier this week that even a point one percent growth and sunny out South African economy and consequent increases in demand for power. Could cause widespread outages moving over to europe that cac is up for the week in france despite a loss of more than one percent on friday the vix index on the cat 40 theyre taking a big leap of more than 7 percent to 18. 00 a similar story at the dax in germany with a loss of more than one percent on friday notable weakness there in german auto stocks b. M. W. And im a chrysler both falling more than 3 percent on friday and jumping from the continent to the u. K. The footsie in london is also up for the week despite a one percent fall on thursday after minutes of the last Federal Reserve open Market Committee meeting in the United States were released in the americas starting in colombia the coal cap is down for the week following a familiar pattern that exchange fell by nearly a full percentage point on thursday and brazil the best buy is down for the week as well and as a reported early earlier the vaunted trade agreement between the e. U. And marcos or the brazilian president so narrow and argentine president will reach a magri achieved seems very much in doubt after anger in europe over mr bolton are as failure to prove. The amazon rain forest and mr makki surprisingly poor performance in a president ial poll rolling into the homestretch in north america all 3 major new exchanges us exchanges down for the week not much of a surprise after recent events all 3 down by more than 2 percent for friday as we prepared to go to air with the tech heavy nasdaq down closer to 3 percent and finally end serato the t. S. A. Defying the trend for the americas post our final green arrow for the week and this has been your global stock market wrap up. Time now for a quick break but stay tuned because when we return the i. M. S. The largest loan ever has been under massive scrutiny in argentina with some rumblings that the president ial front runner could be hostile to the conditions of the bail out Party Correspondent alex mahela that just standing by to break down the candidates position and as we go to break. Here are the market numbers at the close. With this manufactured consensus in terms of public wealth. When the ruling closest project themselves. In the final. We can all middle of the room signals. Mean real news is really. New to me. Im a little but i think. Were a body. Or a. Nation you know that little to get out of yeah i am crashing. He could feel that he had a chicken does. A few major moves a little bit of that young enough i dont. In this community there are people who believe that its ok. Its really hard there are no jobs and you see the kids. And as a parent. I can come up with arguments and theres a lot of conflict within the game and between the teams most of the conflicts i would say are over. There most of them is made. Close one of the childrens each other is Good Business the state of california makes 6000000000. 00 a year of the prison complex just to get some 25. 00 where. You dont care. Anything. Welcome back chinas while wait technologies announced friday that us for sure actions against the company will make less of an impact on their business than they had initially believed the celt Telecom Giant did add that being added to the so called entities list will lower their smartphone revenue by 10000000000. 00 in 2019 while we see oh ranjan fay said in june that the worlds 2nd largest smartphone manufacture expected a loss of 30000000000 dollars this year that would have been a large chunk of the companys 100. 00 business on friday while we also introduced a new high end Artificial Intelligence processor the ascend 910. 00 in hopes of easing reliance on us chip manufacturers during an event at the companys shenzhen headquarters deputy chairman eric shoe called it the industrys most powerful ai process. And the value of chinas currency the renminbi fell to 11 year lows against the u. S. Dollar on friday as trade tensions between the United States and china continue to take new twists and turns sentiment among traders was fragile amid concerns over tariffs imposed by the u. S. That are set to take effect on the 1st of september amid the u. S. Labeling china currency manipulator earlier this month chinas official let up the r. And b. Fall to its weakest level since march of 2018 the fall of the r. And b. Follows Interest Rate cuts by the peoples bank of china earlier this week the chinese Central Banks at the new one year lending rate of 4. 25 percent down from 4. 00 and hopes of manifesting economic growth. And european antitrust regulators have started to prepare their investigation into facebooks plan Digital Currency libra according to a report from bloomberg regulators will be looking at whether facebook is creating quote competition restrict. Ns in regards to their use of consumer data and information according to the report regulators will also be looking into the end to gratian of libor wallets into whats app and facebooks messenger apps to break down the regulatory landscape of facebooks foray into then tech is International Regulatory and attorney miles edwards miles when it comes to libor what exactly are we mentioned some of them what can you spell out the antitrust concerns more in more detail that are coming from the regulators sure so as you referenced before on monday the United KingdomInformation Commission office i. C. A. O. Published a statement. Illustrating there are concerns not only over facebook but over libra so theyre really fall into 2 categories the 1st category is privacy and the handling of personal Financial Information but the greatest concern is over libra and the way they feel is right now we have facebook dominating advertising on social media and they believe that if you impose libra its going to be a situation where advertisers going to be force to adopt libra and use libra as a currency and that its going to affectively shut out any other competition thats out there because youre dominating access to the platform and youre also dominating the currency thats being used so theres a great deal of concern across europe over this item s