Skip to main content

tv   Bloomberg Daybreak Australia  Bloomberg  April 3, 2018 6:00pm-7:00pm EDT

6:00 pm
♪ haidi: u.s. releases a $50 million china terrorist list. -- tariffs list. betty: and washington has said it will hit back in kind. back, andla bouncing expecting a dramatic rise in production this year. betty:'s hits the right note after an unorthodox debut. haidi: hello from sydney where
6:01 pm
we are past 8:00 a.m. 6:00: and it is just after p.m. in new york and will take a look at how the action in wall street a plate the asia-pacific trading day. before we take a look at the markets, will be speaking with howard boss at about his new book on failing u.s. border policies, a hot topic for the president and in washington. and before we get to the latest update on the shooting at youtube's campus, a quick reminder of how stocks ended. it was a risk on trading session with the s&p back up 1.3% and the doubt adding 400 points. the nasdaq also rising as well up over 1%. tech stocks bouncing back, but over to the story in .alifornia unfolding right now
6:02 pm
police say a woman shot and injured people at youtube's headquarters before killing herself. joining us now with the latest is technology anchor, emily chang. what are the updates here? >> we are covering this life for the last two hours and it happened at :00 local time, the reports of an active shooter, no information, but just a few tweets and one from an employee with said he heard shots and it were barricaded in a room with coworkers. he later sent another tweet saying he is safe. i heard from the head of future communications who simply said he is safe. was a long time before we got information. that we have confirmation from the san bruno police chief who said that people were injured and taken to area hospitals. the one suspect is that from a self-inflicted gunshot wound and that suspect is a woman. grant, a reporter, nico
6:03 pm
talked to several youtube employees and he said that there obviously shaken up. you are looking at video right now of employees walking out of their hands on their heads. we saw videos of police going in with their guns drawn. in incredibly terrifying and horrifying and tragic situation here. we are still getting more information. about a lot of answers about how this happened, why, who the people are who are involved. we have people making calls on the ground and trying to get more information of what has transpired. we have heard from google and down working with authorities. there is an employee hotline to isl, but on the ground, nico speaking to employees and talking about the fact that there is no metal detectors at youtube. by the way, for those artful
6:04 pm
murder of a geography, youtube is part of google and heart of the larger parent company, off the bat -- alphabet. headquarters is in san ofno, which is south google's headquarters, and there are several hundred employees. thank you for keeping us up-to-date on the story. emily chang on the story at the youtube campus shooting. the suspect dead and three injured. we will give you the latest allotments as they become available. be witheantime what to jessica summers. >> the bank of japan has confirmed it is talking about a massive stimulus. kuroda says he is holding internal discussions and
6:05 pm
a position will depend on conditions at the time. to repeal to inflation is far from the target and will continue a stimulus until that goal is reached. san francisco fed president john williams is moving to new york. powell's androme her circle as an outsider to oversee wall street. williams has spent most of his career in the fed. he will replace william dudley on june 18 and he recently said he favors three or four rate hikes this year. after releasing model three production figures, saying it will not need to raise money. the output of cars in the past seven days was below the target of 2500, but it was better than feared. tesla also said they expect production to increase rapidly the next quarter and is expected
6:06 pm
to burn through another 2.5 billion this year. is the world's biggest height agency as saying it will hold an independent counsel of allegations of misconduct. of its ceo inquiries is underway after the wall street journal reported of misuse of assets. thever, wpb says allegations don't involve anything material to the agency. global news, 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 countries. summers.ica this is bloomberg. let's look at the set up in asia as we continue to look at the implications of more details of the trump trade tariffs on china, hitting them are it hurts. more of a brighter future as we get into the asian trading. rising to the third
6:07 pm
month, and the kiwi dollar trading at .7259. where did see a great deal of mental gets the kiwi and aussie out therading -- giving bike flows we saw going into the rba decision, leaving the cash rate unchanged. all 20 economists spoke to -- sydney futures looking bright, and the aussie kiwi is also seeing a lot of action but unchanged at the moment. let's get a closer look at the u.s. market close going into asia -- the s&p 500 turned early losses and to gains as stocks and bonds rising as a bloomberg report saying the white house is not actively seeking to take despite theazon, tweet attacks from the president over the last several days. could tonight our connection, it looks at investor focus is turning away perhaps from trade
6:08 pm
to earnings a bit more. su: that can bring a positive tone to the market despite the continued downturn in the market as the trump tweets continued. it turned into a risk on what's the white house report of no action directly plant against amazon. is the trade council quote safe smart money will come back in and buy stocks. you saw the risk on. yields rising and bonds retreating, and you also see oil up on speculation of a surprise run in supplies, which we will get in a wednesday report. let's look at the thank trade because he sought amazon come back to positive. havefacebook which would been down," a positive note. if you look at spotlight stocks, very interesting that spotify is in the spotlight. will talk in a minute that tesla
6:09 pm
is getting a bounce back as an analyst comes out and says the model three fears are not as bad as they appear. cbs and viacom -- cbs getting a bump on late they confirmation from someone close to the source who is not named, saying cbs is ready to make a formal bid to acquire viacom, the owner of mtv and comedy central. the two talking about a potential merger since january. and let's get to the bloomberg and look at this chart called equity volatility surges. you see the vix jumping this year while volatility is more to bash muted -- muted. the yellow is currencies and goldman sachs says you could see risk appetite suppressant and other assets of stocks continue to come under pressure. betty: we mentioned spotify
6:10 pm
grabbing the spotlight, and the market value of $27 billion. that was pretty unusual, right? su: normally they get a special pricing the night before, but this was asked by existing shareholders. if you look at the intraday a big pop, and came down towards the close. gain, veryto positive offering in light of what we have as a very volatile market. we also see is this unusual path for a large company to get a $30 billion valuation. if you like at recent ipos, it has been a difficult work it, going back over the past year. snap has been under pressure and blue apron is down more than 50% year to date. if we go into bloomberg one more
6:11 pm
time, quarterly value of u.s. tech ipos was very high last year, and it has been going down quite a bit this year. the security related ipos have been strong. back to you. haidi: a bit of a brighter session on wall street. with better tesla than expected production after what has been a pretty bumpy road. will look at the prospects for the rest of the year. betty: and coming up will speak to howard buffett about his new book on failing u.s. border policies. this is bloomberg. ♪
6:12 pm
6:13 pm
betty: good morning i am betty lou in new york. i am haidi lun in sydney in your watching "daybreak australia". -- the what has
6:14 pm
produced a list of chinese high-tech products, and it aims effect unlesse consumers and china has made it clear it will hit back in kind. its go over to washington to discuss this developing story with our white house editor. we are seeing these lines coming through from state media and a mouthpiece of beijing is saying these tariffs break international trade rules. what do we know so far? the u.s. administration released a list of 1300 products they are going to tariff from china. we are trying to sort through it. a lot of products are obscure and use technical names. there are stuff ranging from human blood to boring machines to chinese flamethrowers. pros and cons for elon musk. it is a lot to wait through and we haven't figured out all the winners and losers. of, are wein terms
6:15 pm
expecting more details, or are -- expecting more any fleshing out of exactly what tariffs and the numbers we're talking about as well? there is a 60 day comment. lobbyists will be writing to him his station and objecting to specific line items in this list of tariffs. they also are supposed to have a public hearing on these tariffs before they go into affect. the tariffs will take effect, and in the interim i would expect the chinese to issue retaliatory tariffs, probably targeting parts of the country donald trump won his presidential campaign. betty: so the tit-for-tat will continue. alex wayne, thank you. what's therump says military to secure the border
6:16 pm
wall is built. the president is increasingly frustrated about the lack of progress of a major campaign promise. let's discuss this with the howard buffett who is the son of billionaire investor, warren buffett. he wrote a book on the state of the u.s. thousand border and that what is called, " our 50 crisis."der betty: howard, good to see you. the last time you were here we 40ked about your book, " chances." why focus on this issue? over the years, i have worked to the gates as a philanthropist and countries like on a mullah, honduras, and other countries.
6:17 pm
involved in law enforcement for six years and that isn't cochise county, it borders in arizona. betty: you have seen immigration and illegal immigrants coming across firsthand? say, certainly weekly, but not daily. transshipped, that the kinds we see very frequently of people crossing our borders are sometimes carrying drugs are sometimes it is immigrants. that has been a pretty regular thing. betty: what is the message we are missing when we talk about the border crisis? howard: the biggest thing i focused on in the book is we have 65,000 u.s. citizens died from drug overdoses. maeth, and heroin, cocaine, those are being reduced
6:18 pm
from mexico, at least 90% of them. if we don't secure the border will deal with this opioid crisis. is not just opioids, cocaine and meth are impacting citizens across the u.s. betty: what is your reaction to the comment from president trump today was says let's militarize the border? let's use the military to secure the border, what you say to that? howard: i don't think you can do that, legally. you can use the national guard in the state direction that is different than making the military to the border. but say there's one part of the department of defense back to be used for that, which is the coast guard. it might take some directives to get them off of water and onto and can serve do as customs agents. they deal with law enforcement every day day in and day out. the biggest issue is the
6:19 pm
military has a completely different mission that what law enforcement does. if you try to mix law enforcement with military, you are going to have some bad experiences. haidi: immigration is such a hot and you associate that with the drug epidemic and it becomes more sensitive. you think despite it being in the headlines every day in the u.s. that the issue is to politicized to find a rational solution? it is to politicized and that is another reason why i wrote the book, it is based on personal expenses over the past several decades from different perspectives. none of that has to do with politics. when you have 65,000 u.s. citizens die in when you're as a result of drug overdoses, yet to stop. this people are republicans, itocrats, independence,
6:20 pm
doesn't matter what your politics are. this is information for the country. haidi: what is your strategy to get people to listen and is the president willing to listen? howard: he has a guy in the white house, general kelly coming understands the situation well and understands many perspectives. i hope he will listen to the general. general kelly is well-versed in the subject and he is very experienced and it. he has a big heart and he knows when to be tough. he has all the different factors it takes to make smart decisions. betty: to be talk to anybody and the white house about this or the president about any of this? and i am not sure they want to talk to me. [laughter] i have not been invited. betty: have you reached out? howard: i know general kelly and he has his hands full. if you wanted my opinion he would ask, but he is a guy who is right there in the white
6:21 pm
house and has all the experience in the world to deal with this properly. as actually disappointed to see him leave the department of homeland security because i thought would do a phenomenal job. do you have these conversations with your father on these issues and answers to know if he shares her views on this? howard: usually when i talked to my that it is about business or berkshire, or the foundation. attack about what i am doing in the foundation, i haven't talked much about the subject. other in terms of the industries or committees that should be engaged on the issue, what you think about the role somewhat say in creating this problem plagued by pharmaceuticals and the health care system in the u.s.? andrd: health care system specifically the doctors who overprescribed opioids -- what a lot of people don't realize,
6:22 pm
there is a lot of federal agencies wafted information on this. the cartel is actually targeted areas in the u.s. there are not good we help facilities available and is a particular geographic area where opioids are overprescribed, they know that. they come in and have ulcers of tactics. is to give away free heroin for the first and you want to try it, and then you are hooked. to think this is just happened by accident is really being naive. that has been a plan behind this in terms of the cartel, and have taken advantage of the mistakes we have made in our health care system. betty: how much of your role in illinois as sheriff, how much of that has changed your view? howard: past shaped my views, we have had record overdoses and the county, and all of my officers carry narcan. betty: there you are,
6:23 pm
patrolling. i had anlso, experience through this parses that i never had before, which is our jail. we deal with ice through the jail and you with a number of issues as an auxiliary deputy. it has been quite an education on those issues. betty: certainly an education and a new experience for you. i want to talk a little bit about taking a step back a bit from the border drug policy talk broader about some of the issues going on economically. trade -- we have heard so much about u.s.-china and the global trade war. i know you have got strong opinions on nafta which you have personally seen up close. howard: i worked on nafta in 1990 when i was on the county board.
6:24 pm
bought flour mills and corn mills in mexico and have a long history businesswise and through our foundation -- we spent several hundred million dollars down in el salvador and mexico and make many trips down there. he gives you a different perspective of sibley looking at it from a 40,000 foot level and drawing those conclusions. nafta the is no economic tool and agreement between three countries that all need each other. and economic tool is designed -- when i do best i get the axis i want from you and you get -- and nothing to do with border security. betty: even though it is for trade in that light. looking back, you agree there are parts of nafta that haven't worked? anyrd: you can go through trade agreement and that would be true, and i'm sure it is true with nafta. betty: does it need to change is
6:25 pm
the question? howard: i'm the one unintended consequence, and is worth some of administration officials are wrong. mexico is hurt see the family by nafta in the agricultural area. they never recovered from that and will not recover now, so i do know if renegotiating in any certain terms is going to change much. that theu think ministrations approach to china has been a smart one in chinese trade? howard: not you're going to ask about china. are told betty, you have to ask her about china. [laughter] -- get have to go back to the 1950's to find when agriculture do not have a surplus in trade in the u.s.. agriculture is the backbone of trade in the u.s., you start a trade war with china, agriculture will lose index trade war.
6:26 pm
that was what i believe. they are an important market for us. as far as i can comment on agriculture, i think it could be very hurtful to the u.s. companies and farmers. betty: every year we see each other at the berkshire meeting, that is a month away now. every year investors wonder, when are we going to see howard more and more? they think about warren buffett and a next generation, are you ready for a more prominent role? howard: there is no reason for me to take a promise role until my that is not there. the prepared to do whatever board asked me to do, and if they asked me to take that role i will step into it willingly and with plenty of energy. betty: how do you see issues that you are passionate about fitting into your role? howard: i have to make a change. that is pretty evident. there are things i could not do for a short period of time.
6:27 pm
stepping into that role -- you're going to have a ceo running the business and my role will be in a short transition and doing what i can do to support the ceo and what the board directs. i have to give everything up because it is not a full-time job. betty: in many ways in respect to carry on the culture as well. howard: that would be the single biggest factor. is always a pleasure to see you, i wish it was more often. howard: you can ride along in illinois. i want to rescue. [laughter] don't worry. betty: howard, thank you so much. be sure to check out his book. can get a roundup of that story and many more to get going on
6:28 pm
your addition of daybreak. use the function dayb and you can customize your settings to get the news on the industries you care about. this is bloomberg. ♪ retail.
6:29 pm
under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store
6:30 pm
near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> 8:30 a.m. here in sydney, mark is open in a decidedly better mood after gains. the turnaround on wall street. trading starts here in sydney, up about .2 5%. i'm haidi lun in sydney. a >> i'm betty liu in new york. california say a woman shot and injured three people at you to headquarters before apparently killing herself. the latest update on this. for the latest is ian king and san francisco. do we know much more about the shooting suspect? ian: we don't.
6:31 pm
all we were told is that when police arrived on the scene, the second person that they found involved in the shooting was absolutely already deceased. and what looked like a self-inflicted gunshot wound. haidi: right, and in terms -- ian: go ahead. haidi: i understand that we are awaiting for details as to why this happened, how this happened. in terms of the victims, do we have details about how that is going? hospitals and the police were reluctant to give us details. relatives.ted their these people were actually found on the site of the youtube facility as they searched through the building. betty: they expect no more and
6:32 pm
have a 32-year-old female and serious conditions. it two out of the three patients are female. one is male. and a 36 or older male is in critical condition. has youtube or google, was statement have they made about this shooting? they will be working with the authorities around us trying to get to the facts. coming out. they are ready to talk about it. betty: we will get the latest on the shooting on youtube's campus. jessica summers? jessica: the u.s. trade , $50 billion in
6:33 pm
annual trade and could face new 25% tariffs. it covers around 1300 proposed tariff lines including aerospace and communications technology, robotics, and machinery. they will face further public review before coming to a final determination. the list violates international trading rules. facebook says it has removed more than 130 accounts on the social network. and on instagram, the russia-based research agency. they had content targeting people and russia itself or neighboring countries. saysspoke says -- facebook they've been running for months. new guidelines on casinos are seen as and if fitting big players. they agreed on $56 for local gamblers. that is in addition to a tax in
6:34 pm
gross gaming revenue. they strapped a limit on casino for space -- floor space. there were operators in new york and they could keep an eye on the hong kong shares later. 2700ed by more than journalists in more than 120 countries, i'm jessica summers. this is bloomberg. thanks for that. let's get an update on new was a nicere it pickup when it comes to consumer confidence. the stocks by .3%. 72-61. not seeing much love. tradeing of a pullback in tariff tensions. positivity, 19 point for the upside there. thatoo far from
6:35 pm
three-month low that we hit earlier today. and the aussie kiwi seeing quite a bit of cross lows there. when it comes to risk assets, they will provide a bit of respite for the yen. it should lift sentiment there, 14064. at falling.d and just a reminder the s&p 500, managing to turn it around. .betty: let's take a look spotify making the debut on the new york stock exchange after skipping the traditional ipo route in favor of a direct listing. alex joining us now from san francisco. spotify wanted to avoid this to mull to his debut.
6:36 pm
it did it get that wish? they wanted a low drama day and the markets delivered for them. spotify went public to this unusual route of a direct listing. the valuation for this company is the key difference between an ipo and a direct listing. it was set by supply and demand this morning before the open. it is typically first decided by the company and its advisor. by the market dynamics and the stock took about three hours to open this morning. 165 $.9n open price at a share. that traded ready flat. more than $10 a share from that open price until late in the day. we did see it fall off and slid down to a closing price of $149 and one cent. 10% below the opening price. it people say they basically
6:37 pm
kicked all the boxes that they were looking for for a successful day. the one caveat is probably volume. to notmportant for them have buyers for the shares but existing shareholders that wanted to sell. shares,pen, 5.6 million about 30 million shares. a tick below where i know folks were hoping for as they get this stock going in trading. they wanted it to look like a run-of-the-mill trading day.
6:38 pm
here on out, you wanted to keep trading. they will be looking for is the volatility if supply was a lot lower. aere could have been a bit of liquidity squeeze today, driving up that valuation. folks will be looking at this and judging it on the fundamentals. you already have the analyst coming in and looking at this company. there were five by ratings on it and folks are looking at the business of this music streaming business. they get closer to profitability. he cut spotify is frankly a new type of business model for streaming music and one of the only pure play music business is that the investor community can actually take a public stake in. very interesting times and back to fundamentals. it we are in san francisco on spotify. and other company making headlines for the wrong reasons.
6:39 pm
, they say it won't need to raise more money. output of 2020 cars over the past seven days was below target but still better than feared. it tesla expected rapid decline this quarter. we are joined from detroit, and it was not a great number, but still much better than expected. did see tour the end of the quarter, tesla did make a huge push to get the number of as high as it could. we did have a bloomberg experimental tracker that was showing in the lead up to this last week that the company was a few hundred or in the thousand range per week for the model three. we did have some reporting last some of the things a
6:40 pm
company was doing to make a last-minute push and rally employees to encourage them to prove the heaters wrong, in their words. bit ofso did a little shifting of the model s and model x workers over to the model three line. betty: the question is, can they keep it up? >> they mentioned over the last seven days, they stood by their target to reach a 5000 a week rating in the second quarter. there is some skepticism out there about the likelihood that the company will get there. even analysts that are bullish about the company's share price the last couple of days and expecting it to bounce back. rate they will reach that sometime in the second half as
6:41 pm
opposed to some time in this quarter. talk to usetty: about u.s. auto sales and a jump here in march. what was behind that? >> gm and fiat chrysler were the big beats of the month. it may have something in common, fresh suv path to sell. the new chevy traverse and chevy equinox are doing extremely well. fiat chrysler has totally retooled plants here in the u.s. for making cars that weren't selling very well. shifting over to making jeeps and taking time to bear some fruit. it was an 18 month streak. they broke that streak in a big way this month. so you really saw jim and fiat chrysler carry the day.
6:42 pm
haidi: the u.s. automotive editor there. coming up next, the deputy managing director says it is time for china to address trade concerns. our exclusive interview with david lipson is coming up. this is bloomberg. ♪
6:43 pm
6:44 pm
haidi: i'm haidi lun in sydney. betty: i'm betty liu in new york and you're watching daybreak us try a. the new york fed getting a new boss. it john williams replacing bill dudley, becoming one of the officials inwerful the federal reserve system. our global economics and policy editor kathleen hays here with more. was controversy about john
6:45 pm
williams and rumors about him becoming the president of the new york fed. >> he is. a big bill in reserve system and something that people are watching for any influence it may have on policy because the new york fed has selected san francisco fed president john ym's to replace bill dudley. bill is retiring this summer and rumored that john williams was in the running. we now know he certainly was. let me remind everyone why the fed's position is important. first among equals. among the presidents 12 rotate devote every year. vice chairman of the fomc. that much closer to the chair him or herself. oversight of the big wall street banks conduct open market operations in this will become a more important policy tool as the fed exits from a big balance sheet. to the table,ring
6:46 pm
john williams? he's been applauded as a top monetary economist. people say he lacks market experience. in 2002 anded became the research had in 2009. president of the bank replacing janet yellen. are starred that neutral rate concept which is key to monitoring policy now. a proponent of the inflation target re-think. is not a banker. he lacks market expertise. and of course, this is an important position because they oversee the big banks. to the extent that he has some say in this conversation. feeling he's doing is out important positions. with somebody who he thinks can
6:47 pm
advise him on policy and someone that he's worked with. he's a member of the board of governors. this is john williams. >> what has been the reaction so far? >> i would say, certainly, from the fed, very positive. jay powell praised john williams for his insight and wise guidance. janet yellen strongly supports him in this position for his advice in the crisis. it's been controversial, though. so many people are criticizing the fed for a lack of diversity. a woman?ut why not a person of color? and a pool ofttee 60 candidates, 30 of them were not white male economists. another part of the controversy is that wells fargo that had a
6:48 pm
problem is part of the san francisco fed district. the fed has oversight over wells fargo. people point out it is very complicated. there was some fraud involved, people did not know what was going on. ultimately, the fed regulates the biggest bank so it is hard blame on john volumes. at the san francisco fed is where williams was before he became president. a woman that people say is a strong candidate phil john diversity aside, this is what people care about, interest rate hike, right? kathleen: is he a hawk, a dove, or a centrist? some things. let's take a look. he's in favor of three or four interest rate hikes.
6:49 pm
it kind of makes him a centrist. we have seen here on daybreak a stronger before. a former fed economist. he things williams is pragmatic. he push for quantitative easing and aggressive measures in the crisis as the economy strengthened and inflation, he push for interest rate hikes. if you look at his view of the neutral rate, maybe it is lower than people think. so he thinks that rates are going to stay lower for longer also because williams has mentioned that inflation goes above target if he needs to. chris think maybe it will be easier. as president of the new york fed, he will probably have even more influence is a thought leader and as a policy leader than he has had and all of the previous years. a very important and very interesting appointment. one i think everybody will be watching very closely.
6:50 pm
kathleen, thank you very much. kathleen hays our global economics and policy editor. china needs to take steps to address global concerns about his trade practices. exclusively toke bloomberg hours before the u.s. issued its $50 billion tariff hit list for tariffs. >> it is unfortunate trade tensions are rising where global -- for the first time in a long --e, trade is glowing growing faster. it is spreading recovery around the world. the trade tensions, they arrive because people feel as though trade is unfair. it the advantages being gained by other countries. and that is causing them dislocation. we need to understand that dissatisfaction that is leading to these trade actions has a
6:51 pm
reason. thehe same time, we think differences should be settled through cooperation and through dialogue. and that is the way to make sure that trade continues to grow. that market access increases. but on a fair basis. would think the u.s. has a point when it comes to china. it may not be the most appropriate. david: the u.s. is not alone in being concerned about chinese trade practices. if you look at recent statements by their premier, they it is not athat globally significant factor when they were a smaller economy 15 or 20 years ago. something that needs to be addressed. the time has come and they need to globalization. that is why they've had this spectacular growth and they will
6:52 pm
have a strong future. what they need is globalization that is durable and that means finding a way to have free and fair trade, to get along with their trading partners. ande see major reactions i'm wondering, do you think we will get a reprise. and what are the longer term in longer-term- implications? david: what we can expect to see is that with all of the monetary accommodations and efforts to get through central bank targets , back through normal inflation. this accommodation has led to rapid growth in credit. more vulnerability and more risk. these vulnerabilities are bound to lead to some or volatility. it's a good thing for markets to become accustomed to that. to figure out how to react to that. there is no reason to expect at
6:53 pm
this point there will be problems. a normalization of monetary policy at the united states has been fixed interest rate increases and has occurred without any significant negative effects. surely people need to be alert to the fact that there are financial vulnerabilities, and there is likely to be volatility. that was an exclusive interview with david lipton, the first managing director of the imf saying that china does need to look at its trade practices. we've had a very strongly worded response from beijing on this u.s. tariff. targeting industries that beijing his a great deal about. it strongly condemning and opposing u.s. tariffs and also saying -- betty, this is probably the strongest wording in terms of reciprocation or retaliation. china planning reciprocal measures on u.s. goods to the same scale according to the chinese state media.
6:54 pm
>> trump's aggressive going to backfire on him and cost, ultimately, u.s. jobs given the escalation in the tariff and trade war. you mentioned pretty strong comments. that's what we've seen so far from the chinese side. watch us live and see our past interviews on the subject and many more on the interactive tv function tv . you can dive into the securities and functions we've talked about. and become part of the conversation by sending us instant messages during the shows. this is for bloomberg subscribers only. this is bloomberg. ♪
6:55 pm
6:56 pm
betty: headlines just coming across, china condemning and firmly opposing u.s. tariffs. this is according to the chinese and should one news agency. china also planning same scale reciprocal measures on u.s.
6:57 pm
goods. again, china coming out with strong statements here against the u.s. after they came out just a few hours ago with that list of $50 billion worth of tariffs. a lot of that focused on the high-tech sector or which may have minimal damage as possible in order to continue the dialogue with china. if there is any. haidi: yeah. it will be very interesting to see what happens over the 60 day consultation period. coming back from the edge of the trade war that it appears we are on at the moment. take a look what is coming up over the next few hours as daybreak is truly a comes to an end. -- daybreak australia comes to an end. betty: we will speak to don stein group from -- he's the one that consulted with some of the hedge funds and ask for the smart money is going.
6:58 pm
he says it is outside the u.s. and into asia these days. betty: has luck, the big market that has been the focus these days, it has been the model three. eric nobles joining us, the latest. this is bloomberg. ♪
6:59 pm
7:00 pm
♪ kong,: 7:00 a.m. in hong live from bloomberg's asian headquarters. i am yvonne man, welcome to "daybreak asia." releases its $50 billion china tariffs list. products highly prized in beijing. trade war,lobal china says it firmly opposes the move and will hit back in kind. betty: that tit-for-tat ratcheting up. i am betty liu in new york. tesla is bouncing back with better-than-expected numbers, expecting a dramatic rise in production. spotify hitting the right


info Stream Only

Uploaded by TV Archive on