Stalling further trade talks china has now hit back at the u. S. By suspending visits of u. S. Military vessels and aircraft to the city and sanctioning various u. S. Based n. G. O. S this is a calculated way to retaliate without affecting ongoing training goshi asians among the groups to be subject to unspecified sanctions are the National Endowment for democracy which receives funding directly from congress and Human Rights Watch which has long been plagued by accusation of its Revolving Doors and deep ties to u. S. Government these groups have been accused of fueling the riots in hong kong and supporting separatist activities and thereby undermining chinas National Sovereignty and security kristie i actually have a couple questions for you on this it seems like were getting a new Tipping Point in this trade war and that Tipping Point is hong kong and we talked about the importance of this legislation but is this really a position that both sides want to pin all of their trade hopes on while certainly for the u. S. I. Hong kong was a very important card to play and it was a way for trump to exert maximum leverage either sign phase one of the deal or i will sign off on the legislation that obviously has not worked and in fact backfired on china because china is clearly trying to separate the 2 issues one saying this is a political move and were talking trade these are 2 separate issues and we should try to keep them separate and so thats why they sanction the u. S. Vessels which clearly doesnt really have any effect at all whether no effect on trade no effect on Economic Activities the u. S. Ports and vessels can just clearly dock anywhere else in the philippines singapore australia or anywhere else so really has no effect is more so a reputational thing so no going back to phase one of this trade deal where we seem to be looking like were further away from it what happens to businesses and consumers if phase one doesnt go as planned and those tariffs on i think is 156000000000. 00 worth of chinese goods go into effect well this is really going to be the 1st time this is really going to affect consumers and households so previous terras have already cost consumer households an average of 600. 00 annually with this next wave this is likely to cost households up to from 11300. 00 per year and this is really going to constrain the consumer budgets especially when consumers currently are the backbone of supporting the American Economy representing 70 percent of the gross g. D. P. It seems like we have a several weeks to play out here theyre going to be very very important that every week theres an is important this trade war. So President Donald Trump announced monday that the u. S. Will reinstate steel and aluminum tariffs on brazil and argentina due to what he characterizes as the devaluation of their currencies the us president spoke with reporters about the tariffs on monday at the white house prior to leaving for london. Really. I do think that. There. Are still. The 2 countries in question were relieved of tariffs of 25 percent on steel and 10 percent on the aluminum last year the brazilian rail has fallen 8 percent in 2019 against the dollar while the argentine peso is down a massive 37 percent according to u. S. Census bureau data during the 1st 3 quarters of the year brazil has accounted for nearly 11 percent of steel imports to the u. S. 2nd only to canada argentina only accounted for one percent over that same time frame. Joining us now to discuss all of the latest in the u. S. Trade disputes is greg sweats and founding martin or at brig mcadam coming to us from london now lets get right to it greg while the steel tariffs could cripple trade wouldnt the latin american countries have more to gain by trading with china instead this year alone brazil has shipped more than 225500000000 in Agricultural Products to china thats more than 10 part times the value of steel and iron products sold to the us what in brazil preferred the carrot over the stick in this instance. Yeah look i dont think this is meaningful for the us you know i think the president likes to talk about tariffs and he likes to threaten and you know use tariffs in the newtown. Tory fashion but it really doesnt move the needle for the u. S. Economy you know brazil and argentina should trade with whoever pays the highest prices if they can make more money trading you know with china good for them but i dont think its as significant for the u. S. Economy and as weve said for 2 and a half years you know were sort of playing with the houses money the president has the room to use tariffs as a tool we as capitalists dont necessarily like that you know weve often i often argue you know nobody wins in a trade war but theres been enough there have been a tough challenges from china both you know in terms of human rights value violations the Security Risk the intelligence risk and of course the fact that the state owned enterprises are or have grown significantly so its really not a a state economy its its basically status so i mean i think theres enough reasons to call out the chinese theres a long list and this president has done that so i know and he can because the u. S. Can handle it the u. S. Economy is significantly greater and so i think theres room you know hes playing with the houses money in other words and are these tariffs against brazil and argentina are they really because of currency devaluation as he claims or is this more about retaliation against 2 nations that have now become alternative suppliers of soybeans and other agnostics to china as a move to choke out competitors to force kind of back to purchasing from u. S. Farmers. Right yes no you bring up a good point and i dont i cant read the president s mind i dont know if its really the currency devaluation a drove him to this but i i wonder you know if if if hes putting tariffs on on brazil in argentina that means theyll be less imports to the u. S. And theyll be more exports to chinas i dont think this hurts china i dont think theres this is any way to punish china the best way to punish china is to is to slap tariffs on china so thats what hes done ive been a little concerned with the president you know slap. Tariffs on our our friends and neighbors notably mexico and canada argentina and brazil im not sure what his his long list of grievances is you know or with those countries but its you know look when in doubt i dont think that tariffs are a good idea but you know with as far as china is concerned i think it was kind of the last resort and i think i think it was right for the president to call him out and i agree greg it appears that sometimes when president when hes not getting exactly his way or is trying to move things out trying it seems like he goes elsewhere to exert his trade you know i mean its kind of his mo there sometimes theyre moving back to that china u. S. Relations how will these sanctions affect the u. S. And what will happen to these n. G. O. S as these new sanctions get put in place by china. Yeah look i think its important as far as the n. G. O. S go i mean look there i dont think this is going to affect the u. S. Surely wont affect the u. S. Economy or the u. S. Political views dramatically the fact that you know some engine n. G. O. S might not be of operate in hong kong you know and as as as you guys mentioned earlier you know the not being able to fuel up in hong kong no big deal theres plenty of other places to do that so i dont think thats meaningful but i do think its meaningful that they are you know there will be some you know some effect on the u. S. Economy theres no doubt about it i mean you know this is why you know the terrorists you know are really a last resort and theyre better than the alternative in some cases which is military activity so so if the president likes to use tariffs of the weapon and thats what he campaigned on hes not of you know hes not one to use military action he doesnt want to be the worlds policeman hed rather use economic sanctions to accomplish some of his goals and thats what he campaigned on thats what hes doing so i think its you know look as i said earlier that the u. S. Economy can handle this it will tax the consumer theres no doubt about that and you saw that. You know some some business and Business Investment tricks have gone down because you know the market as you know and you know management. You know Business Managers and executives dont like uncertainty and with this trade war theres a lot of uncertainty so that there is going to be some effect on the u. S. Economy that being said theres a much greater effect relatively on the chinese economy they are exporters of cheap labor they are massive exporters you know you have less than 10000. 00 per you know the g. D. P. Per capita in china youve got 65000. 00 in the u. S. Of this is this is a lot easier for the u. S. To handle im not saying that the u. S. Likes it and as you correctly pointed out earlier you know the consumers 60 percent of the of the u. S. G. D. P. You know this will affect them slightly but not much this is this is not a big deal for the u. S. Economy absolutely greg swenson of berg mcadams thank you so much for your insight today. Great to be here. A landmark pipeline that began gas flow today bonds russia and china on a whole new level the 2 countries are expanding Energy Infrastructure and this comes as both his relationship with europe and the United States have grown more tense for more we bring in our hearts on exam on thursday ill go with the details so its a big day for both of these countries but lets talk a little bit more about this where exactly is the pipeline and who owns what well lets start with the 2 countries who have been think by the United States so theyre separately dealing with challenges of their own with the u. S. But it is a board to know that china is the Worlds LargestEnergy Consumer so its a partnership with russia really comes at a much needed a critical time chinese president xi jinping and russian president Vladimir Putin earlier today inaugurated the pop line via a voice conference called take a listen to how they did it. So right now both china and russia are in important periods of their countrys Development China russia relations are entering a new era i hope we will both continue to make persistent efforts to build more knock out projects like this power of siberia pipelines to assist in each countrys development to better bring benefit to both countries and both countries as people put them go to work this year marks the 70th anniversary of diplomatic relations and this year we start supplying russian gas to china this step takes russia China Strategic Energy cooperation its a whole new level and brings us closer to achieving that goal so that along with chinese president xi jinping to extend a biological trade turnover to 200000000000. 00 in 2024 so russian gas problem built the russian side from new siberia gas fields all the way to the chinese borders meanwhile the chinese side starts right there in northern the hay along john province and it reaches southward down to shanghai it runs total more than 3750 miles and it will eventually carry this extraordinary amount of natural gas of up to 30 8000000000. 00 cubic metrics meters or whats also over 10000 liquid gallons annually for 30 years thats a long time a big deal today for both countries now you actually mentioned how much gas is expected to come out of this so how big in the grand scheme of things is this project i mean when we look at the energy needs of somewhere like china what are they looking at because they are the Largest Energy consumer its really important to note that right now the majority of china is still operating under a whole its coal powered so this this is huge for them to tackle some small again and the release of Carbon Dioxide emissions so this is again a huge for nato and other basically people and. Basically other companies and things calling for a Climate Change so for china again this is really big its dubbed the power of siberia now the pipeline will run again from fields of your cuts to. Hoots in siberia but the russian gas group with gazprom sealed the 55000000000. 00 deal with chinas oil and gas major China NationalPetroleum Corporation on the move does reflect moscows attempt to try to mitigate the hardships that theyve theyve had from a western financial sanctions those were imposed like we remember in 2014 during the annexation of ukraines crimea and meanwhile like he spoke earlier beijing is fighting a fight of their own with a trade war thats still ongoing but i do want to know also that according to the International Energy agency china is expected to become the Worlds Largest gas importer by next year and its going to account for more than 40 percent of some global gas demand through 2024 and the pipeline could for fulfilled nearly 10 percent of that demand by that year in china and russia are already discussing a 2nd or even 3rd pipeline so apparently working very well this its only day one but its the its a long way to go so the u. S. Im sure is wondering where do we go from here a huge accomplishment and this is totally going to compete with the u. S. The supply of natural gas currently to china right now are t. Corresponds im on tuesday august thank you so much for answering. For a quick break but herring here because when we return all the acronyms we hear on the world stage the new cio seems to be at the forefront of the list but what exactly is the role of the trade group and how do they shape the policies that affect the globe we welcome public Systems Global trade watch joins us just after the break the loop us into the opposition that many of the trade take that we go to break here in the numbers at the close. Oh wow. Honest labor has spent a mollusc in america and the average income for americans hasnt budged at all in 2030 years because they were the neutered from their ability to compete for capital labor has no seat at the table labor has no seat at the central bank labor has been abandoned the jobs have been shipped overseas wall street now gets all the crap they get 100 percent of the capital every dollar per to buy the fed goes directly to wall street bypasses labor bypasses ways of. Thinking of getting a new phone the ones we got in here shows no problem was as he didnt know until he was trapped in this tiny little wired coach we dont need a crate with him he will stir freaking out in she will want to spray him anywhere near. Breeding dogs or caged in the into lane conditions on puppy fun i mean 67 years you know theyve been locked up in cages outside you see no protection from the weather the heat you know the courtier the rain the snow the founder nothing they have no protection. To get what you. Can get through kids. Across the us cruel puppy mills are supported by dog shows and stores most of the puppies are coming from this large Scale Factory farming kind of operations are being sold in stores even joined a Group Businesses are involved like ill give them some to there has been a shocking amount of organized opposition to efforts to increase the standards of care for dogs bred in commercial breeding for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with dogs dont buy dog on o. T. 3. A. Gay. Thank you thank you thank you thank you. Thank you. Thank you thank you. Thank you. Thank you. Opec and its allies are in discussions to cut back boiler production at least until june of 2020 as saudi arabia wants to prop up the market before the listing of saudi aramco the latest Analysis Shows a large oversupply and build up of inventories in the 1st half of 2020 if no additional cuts are made riyad needs a Higher Oil Price to balance its budget and support the pricing for the aramco listing which will be pricing on thursday the current deal being discussed would add an additional 400000. 00 Barrels Per Day to the existing cuts of 121200000. 00 and prevent an oil glut from building as a result of the boom in u. S. Shale the deal would also include stricter compliance for countries that hearing to the cuts as currently iraq. Have produced well above their quotas. The World Trade Organization has ruled that the European Union continues to provide unfair subsidies to airbus backing the case for u. S. Tariffs against the block the report released monday investigated whether france germany spain and Great Britain had withdrawn undue support for the european plane maker a 350 jetliner and a 380 super jumbo as they were required to do the following in a previous decision in october the us was awarded the right to impose 7 point 5000000000. 00 in retaliatory tariffs on european goods including most of air bus fleet as well as products like cheese and wine. And this weekend marks the 20th anniversary of the 1909 w t o protest in Seattle Washington im november 30th 1909 was set to hold their ministerial level conference at the Washington State convention and trade center in seattle but nearly 50000 protesters flooded the streets to demonstrate against the organization which eventually disrupt the of disrupted the events and resulted in a state of emergency and curfew being imposed in the city as lori wallach director at Public Citizen global trade watch put it in an op ed for the New York Times those protests and subseque