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And those trump promises pushing wall street to more record highs. And as President Trump orders a review of the financial rules designed to stop another nightmare on wall street, well be getting the inside track from our economics editor Kamal Ahmed On that and the rest of the stories hes been covering this week. As snow hits new york city, how much do you think it costs to clear an inch of the white stuff off the streets . One dollar . One hundred dollars . A Million Dollars . well give you the answer at the end of the show. Just use the hashtag bbcbizlive. Welcome to the programme. We start in the us where, as youve been hearing, japans Prime Minister shinzo abe meets President Trump later. Trade will be ....
He later tweeted when you re already $500 billion down, you can t lose. regardless of how you feel about trade deficits, the president is lying. according to the commerce department, the gap between chinese goods and services imported into the united states and american goods and services exported to china was just over $375 billion in 2017, up from $347 billion in 2016. there is no way you can add or subtract these numbers to get to $500 billion. that s just a made-up number by the president. the u.s. trade deficits in goods and services worldwide last year did have a 5 handle. that s $566 billion, up from about $505 billion in 2016. the president has said this so many times that i would think he knows the difference now which is why i m comfortable saying he s just lying about it because he actually does know the difference. we don t have a 500 trade deficit with china. i want to talk to somebody smarter and that s why they ....
If they don t get a new nafta deal within 20-30 days it s not happening until after the mexico elections and then we re talking about the fall so he s opening the window to get them to the table to make some concessions to get a better nafta deal that s what this was about and by the way china, china is steal ing all our stuff okay? everybody knows it this is like a very accessible thing that people understand. they re acquiring technology companies, they re boosting the most important industries of the future like ai, robotics, driver driverless cars, all that, acquiring american technology and doing it themselves so the president is on the doorstep right now of coming up with something big for china. pete: this morning acknowledging that a trade war with the u.s. would be a disaster for them. maria: and it would be. pete: we do have a lot of leverage. maria: don t forget there s a $347 billion deficit with china. that s the big problem that s sort of the secret in the room the presid ....
Had a restricted bilateral meeting this morning. much smaller group. the president saying i believe as you do that there is a solution to north korea. we are not sure at what point that solution becomes apparent to the rest of the world. at the moment there doesn t seem to be a solution. the president saying that the united states lags well behind china when it comes to the u.s. and china trading relationship. 347-billion dollars trade deficit the u.s. has with this nation. the president would like to shrink that if not erase it all together. laura: thank you very much. joining us with reaction from fresno california, victor davis hansen. author of a new book. there is a lot to unpack in this visit. the president with xi. to watch the two of them ....
Had a restricted bilateral meeting this morning. much smaller group. the president saying i believe as you do that there is a solution to north korea. we are not sure at what point that solution becomes apparent to the rest of the world. at the moment there doesn t seem to be a solution. the president saying that the united states lags well behind china when it comes to the u.s. and china trading relationship. 347-billion dollars trade deficit the u.s. has with this nation. the president would like to shrink that if not erase it all together. laura: thank you very much. joining us with reaction from fresno california, victor davis hansen. author of a new book. there is a lot to unpack in this visit. the president with xi. to watch the two of them ....