This is a boom bust so one business show you cant afford to miss. Theyre going to washington coming up while the worlds 2 largest economies seem to be clashing in nearly all fronts well theres one glimmer of hope after trade talks looted and a popular video. Down on tuesday will discuss where u. S. Infrastructure stands in handling the internet traffic have a lot to get through so lets get started. Just by growing tensions in the United States and china both countries are actually making progress on the trade front well this is according to representatives from each respective country who took part in these recent trade talks this Development Comes just months after the u. S. And china signed phase one of a massive trade deal but will the countries be able to come together when it comes to the latest disagreements over technology which now includes a fight over the popular optic talk argue 3 the 11 joining me to discuss rachel whats the latest on the trade front were just 10 days ago we heard that schedule negotiations were broadly canceled the now were learning that there actually was a phone call carried on monday night between representatives for the u. S. And china now weve got statements from both sides and its interesting to see the u. S. d trade representative said both sides see progress and are committed to taking the steps necessary to ensure the success of the agreement then Chinas Ministry of commerce also released a statement in which they said the 2 sides agreed to create conditions and atmosphere to continue pushing forward. Toward the implementation of this trade deal of the major topics here were the protection of intellectual Property Rights and also chinas commitments to purchasing significantly more products from the u. S. Now this call was largely seen as a way to clear the air between the 2 countries to talk about how phase one of the trade deal has been implemented and then also to look at setting the stage for negotiations to go into phase 2 deal well rachel there seem to be a lot of remaining disagreements on the table from from both sides when it comes to social media platforms or is also on the tip Technology Front you mentioned intellectually until actual property theft whats going on there where youre really seeing this latest fight over to talk and we chat ramp up in recent weeks and it seems to be sort of those last frontier in the trade war that were talking about now if we take a look at the timeline here where you see that following President Trump executive order to ban the platforms earlier this month a group of we chat users in San Francisco filed a lawsuit against the u. S. Government on friday and then ticktock filed a lawsuit against the u. S. On monday now both of which argue that they were denied Due Process Rights and that the companies were not given the time to respond to claims of National Security concerns now as we know there are tens of millions of users on these 2 platforms just here in the u. S. And we chat users have said specifically that because platforms like facebook and instagram are already banned in china they use we chat specifically to communicate with their friends and family there so if that platform is banned and taken away then they could largely suffer from it absolutely i mean the phase one trade deal was signed just a month ago everybody hailed the deal it was a huge deal there are still several concerns about the future of that because again president not too long ago said he wasnt having any talks with beijing now they had a phone conversation regarding the trade deal were in a long year whats going on right now one of the biggest concerns moving forward is that election because as we know President Trump is really campaigned on this policy of being tough on china now during a recent interview with fox news he actually said that he is looking at decoupling from trying altogether and cutting off work with the country now take a listen to what he said on the next revolution with steve hilton here. We were doing better then weve ever done with china and i was all set to rock n roll and then we got hit with this damn situation but you know youre asking a question because youre asking to question is what would you be tough for this or that but then you risk it a 2nd question would you have it just a couple not do business with china because you know we dont have to. Now there is still hope right now that there is going to be a phase 2 of this trade deal at some point but as we know were still going with the current of ours pandemic now were dealing with all these new accusations from the u. S. And National Security concerns so those will likely play a role in what that final deal and especially if president or Vice President biden takes takes office after term we dont know where its going to go from here many people say that he wont be as tough as trump other say hell be more predictable so with all this back and forth and its been years that weve seen this going on now President Trump said that he will be tougher on china so hes continuing to do so and all that promise and its an Election Year so hes hes running on that platform to arties Rachel Blevins thank you for being with us thank you. For more were joined by blue bus cohost christine and c. E. O. Of Euro Pacific CapitalPeter Schiff Peter lets start with you and despite washingtons hostility toward china it really seems like president xi jinping is keen to really try to deescalate the rising tensions i think he wants to ensure American Companies continue doing business with china how is he even planning to achieve this. Well i think you know those American Companies who are now doing business in china want to continue doing business in china and i think he also knows that the last the president from needs is another problem between now and the election so i think the chinese realize that if they play their cards right they probably wont have any additional problems to deal with between now and then well absolutely and thats something the theyre keeping a close eye on kristie what do you make of these trade talks and these discussions is there really anything new actually being discussed are these both sides really just tiptoeing around each other theres nothing really new it is as rachel just said everything that were hearing all the rhetoric is very generic very polite statements being made by both sides but this is the 1st very high level trade talks that weve had between the u. S. And. Since the signing of the phase one trade deal in january pretty much restating the fact that the trade is the only remaining bright spot in an area of constructive dialogue in the crumbling superpower relationship between us and china so now these talks come just as after president published his reelection agenda that he vowed to further hack away at the ties with beijing by offering tax credits for American Manufacturing firms to repatriate their companies. And to ban u. S. Companies from federal government contracts if they outsource over to china so while both sides are pretty much exchanging and do words at this point there is a sense that any communication at this point is better than no communication but both sides have agreed to create conditions to further implement this deal indicating that the u. S. Also still wants to keep this deal on the table so while economic and National Security issues there still being argued over trade remains the only only bright spot in the broader relationship between u. S. And china as china is continuing to purchase american ag record volumes right now and we saw these numbers when china promised and committed to purchasing the agriculture and already even before the coronavirus started they said it was going to be what the world saw it is nearly impossible because it was so much money going into it what theyre saying that theyre purchasing them are we even close to that 7 kristie no absolutely nowhere close to that to the record amounts that china have promised but china still remains the Largest Consumer in the world right now even with the man down worldwide from the coronavirus china is still the only Large Consumer of american Large Consumer of Consumer Electronics so no matter what even if even if america says that china has failed to uphold the terms of the trade one agreement as he just said in a previous statement the entire world was hit with something unexpected such as the crowd of virus which china is claiming as a force majeure it was an unexpected Natural Disaster that hit the entire world thus making them unable to uphold the terms of the you. And china trade agreement from phase one well and it seems that the current coronavirus really helped make tensions much much worse between the 2 countries as we heard trump say that things were Getting Better between the 2 countries one could say peter it seems like both countries are trying to hold their faith one on paper but nothing is really being done to enforce it is that a problem. Well 1st of all i think the phase one agreement was just a face saving deal by trump because he couldnt deliver the substantive deal that he promised so he brought out phase one just super candy and accomplish something but i said at the time he really hadnt accomplished anything it was much ado about nothing looked at chinese are going to buy from americans what the chinese need and if they need agriculture and if they can get a good deal from us theyll buy it from us otherwise were going to buy it someplace else and theres nothing that we can do to stop it the real problem is going to be when the chinese stop buying our bonds or really start selling our bonds which they should already be doing and probably are doing and where the dollar collapses so americans can no longer afford to buy chinese products yes when the dollar crashes and i think thats going to happen the chinese will buy a lot more american agriculture because americans are going to buy a lot less because the prices are going to go up i mean a lot of stuff is going to be shipped out of this country and americans are going to have to do without a lot of things that they you know because of my having but were headed for a real crisis i mean the problem is in china taking advantage of us is that weve actually been able to take advantage of them by exporting our overvalued currency for their products and i think the ability of the United States to continue to do this is coming to an end i mean we are printing so much money the deficits are so high that the world is going to finally lose confidence of the dollar which is something that should have happened a long time ago but getting back to my earlier point what trump is really concerned about now is getting reelected and the only. He has going for it is the stock market he wants to continuously claim that the high stock market is proof of how great the economy is even though the stock market is only strong because the economy is weak but he doesnt want to do anything to make the stock market go down between now and the election and so he certainly doesnt want to risk rattling the cage to china or doing anything that might make some of these big tech stocks that do a lot of businesses china that are very heavily representative in the indexes go down so i think trouble is going to be crossing his fingers and hoping for the best between now a lecture day mainly what hes running on now the markets and he knows that the u. S. China relations drive the markets up and down those headlines so he is being very strategic and careful about this kristie can the u. S. Actually do anything to enforce a phase one or was the entire dream deal just just to show like peter said well the u. S. Can obviously do something and china is very alert to the risks that the poses in which they threaten to freeze the Banking Sector out of the u. S. Dollar now we talked about this multiple times this is a very Nuclear Option to cut china out of the swifts network as centrally just choking off its liquidity however that will be like mutually assured destruction between the 2 because while it hurts china if china cannot make any dollar purchases it cant buy any u. S. Ad products nor any other phase one covered products that may be crucial to trumps reelection as peter does mention so the u. S. Is looking at a very limited actions against china on the financial front but all of that being said with a little over 2 months to go until the elections the trumpet ministration is expected to continue to push a very aggressive effort in terms of chinas Foreign Policy and most of it is going to be very has will likely have very little real impact on china because look at the phase one implementation thats just not going to happen at all and theres no enforcement so and no ones looking at it so why do anything at all to rattle the markets and as for phase 2 negotiations that doesnt. Like is going to happen because all those core issues that he decided to push over onto the back burner all of that all the bullet points they have quietly just fell off a drop in the process doesnt look like will be seeing a face dirty any time to go ahead. Theres never going to be a phase 2 i said that when we had phase one that was the only phase that were ever going to complete and in fact even before cobra 19 came around nobody was talking about phase 2 but i mean once covert came then all talks of phase 2 completely disappear so they dont even have a pretense anymore that theres more common especially with this new tech war that were seeing between the 2 countries peter schiff c. E. O. Of Euro Pacific Capital and. Thank you both for being with us today thank you. For a quick break but stay here because when we come back with most americans working from home and students participating in Online Learning we ask our panel does the u. S. Have the internet to handle it we have a Panel Discussion next as we go to break here the numbers at the close. Seem wrong. To shape our. Outlook. And in. The trail. Worlds apart we choose to look for common ground. If you go to symphony orchestras warming up any musician is is tuning his or her instrument so you hear this. Sounds of noise. But its its a constant its disorganized and then the band the orchestra plays and you get music so what the brain does what the maker tubules do is organize all orchestrate peace collapses. In the troubled 19 seventies a group of killers rampage through parts of Northern Ireland that was coordinated. Population. Were forced to flee their homes. These attacks are you see the Police Actually took part in the attacks so instead of preventing it they were active participants and the whole streets. More than a 100 innocent civilians were. Seniors and we found out more. About the extent to which the pollution was involved in some of those cases the killers would lead to be named. I think it went to the very very top i think it is. The water where all the taste. The go ahead. This school year is looking very different for many students with Home Computers and laptops taking the place of the classroom due to the coronavirus well its likely that millions of kids around the world will be participating in some sort of Online Learning which raises the question can the internet handle it arties alex mahela bitch has a story. This is what school will look like for millions of kids for the foreseeable future. Even with Safety Measures in place in classrooms many parents are choosing to keep their children at home while the corona virus remains a threat so along comes Virtual Learning children around the globe will be using computers at home to keep up with their School Curriculum with many getting the taste of a future in the past few months a number of difficulties have arisen from kids not logging in on time for class to lagging internet speeds and what we witnessed recently zoom links crashing on what was for many the 1st day of Virtual School and the fact that millions of students will be using the internet at the same time as their parents who are now working from home the World Wide Web has become more important than ever the question is can our broadband and Wireless Networks handle the burden presented by the coronavirus the increase in remote Internet Usage means more wireless traffic in fact since 1000 measures kicked in u. S. Wireless networks have experienced an increase of 20 percent in mobile voice and data traffic in terms of mobile voice working from home means using a cell phone for most today less than 40 percent of homes in the states have landlines as for Broadband Access not all internet is created equally in the us rural areas are in the tory asli bad when it comes to connectivity creating the issue of inequality for urban versus rule workers and students looking globally the problem becomes even more evident in china this past april mobile data speeds were down by 40 percent while average speeds went up in the u. S. And then theres the question of affordability americas neighbor to the north canada has some of the highest mobile data costs in the world canada ranks 200. 00 and 9th out of 228. 00 countrie