This broadcast from around the globe and covering the world of business and finance in the us all im Daniel Britto and im christiane washington heres a look at what on that today that turns have been set by the america trade deal but its far from over ruling party not the president of the u. N. I global union joined the. Bring down by that stake in the deal. Change pensions may have pulled between the u. S. And china but its still a hectic highway for holiday parties alex a helmet and venture for on break it down and later the roller coaster rages on for a bit coin is a krypto has seen its ups and downs and its not good coin as all coins have also taken a beating. Wire ventures is standing by to dig into the details of the who got attacked shoulder those. Lets head right in. A french road block for the trade deal between the European Union and mercosur leads our global report today as finance signals it is not ready to approve french agriculture minister did yelm told members of the French Parliament quote we wont have an accord at any price the story isnt finished more specifically and more dramatically mr graham said i will not be the front minister who sacrifices french agriculture on the altar of an International Agreement similarly the French Foreign minister said it remains to be seen whether france would support the deal french president emmanuel micron hailed Draft Agreement as a good deal after last fridays landmark announcement following a full 20 years of negotiation between the e. U. In the south American Trading bloc a president ial spokesperson later said quote france is not ready yet ready to ratify and all these comments follow the statement of a 23000000 member Farmers Union that the deal would be remembered as quote a very dark moments. Here to dive into the details of this emerging story is ruben corteen a president of the un i global union which represents 20000000 members and 150 countries joining us from one cyrus president welcome to boom bust. Mr cortina youre much do you yes could your union represents workers in america certain nations argentina brazil part of why in order why as well as in the you how do you see this agreement affecting those different constituencies of your membership and what is the unions position on this agreement right now. Oh well as you said i represent a blue body a union that has constituencies all around the planet including the European Union and letting the american unions so the visions that there that are going. On through the discussion with this these i would say preagreement are different obviously there are a lot of unions in the European Union there are against the agreement mostly those unions that are related to Agricultural Production and there are other unions that think that this agreement can bring more jobs to the European Union at the other in the other end of the americas 2 years historically are against this type of agreements these trade agreements as we call them being them by laterals a multilateral or be regional like this one because history them astray is that free trade agreements do not necessarily bring jobs well for good salaries for our people so these different visions have to be discussed in the future why do i say this because the agreement is not saying it is just an intention that both parties have to go on a process that is not yet finished and and thats what you say about the french opinion the opinion of the french people mostly the people related to agricultural policies are against the agreement so theres a lot to go on yet on this agreement because they also have to go through parliament so i think that we just saw a sign of i would say a declaration or Something Like that that thats what i said this was just a pre agreement and now what happens factors that will be the most affected by this agreement and in what way. Well in our case as none industrialized countries except a little bit more than argentina brazil. Industry Light Industry and manufacturers will be seriously damaged textile shoemakers. Car makers all those industries that we. I have in all countries trying to develop through the through the years can be serialist seriously damaged that is well in our side the negotiations took 20 years and will take some more years but i think that countries that have this economic profile of being countries that only builds their economy on exportation of primary goods and are not totally industrialized like some of the European Countries will be we will be severally damage through the years and in terms of process clearly this will take some time president also narrow brazil suggested one to 3 years before the agreement could be approved what is your estimate. When i think so i also think that its going to take a while because. The agreement when once is signed finally signed it has to go to parliamentary approval in the case of the European Union maybe that parliamentary approval can be avoided because the European Union has supranational. Tools that allows the European Commission to go to avoid the process in the parliaments the National Parliaments and the European Parliament but in the case of merkel so it has to go through our 4 National Parliaments there is the brazilian the paraguayan the required and there are the Argentinian Parliament and by the way we are having electoral processes here in our country in argentina and also in iraq and we dont know what the outcome of these process is so we dont know what the real composition of the parliament will at the end be so i think it will take a lot of time a lot of time to to get this agreement through our our legislation and through our National Realities sour on the subject of brazil last month your Union Rhetoric has sent us an error on the subject of late. Right what do you think. Where were deeply engaged with our the reality that our unions are living in in brazil since the term or presidency and now with mr wilson adam the reality of our Union Movement and workers is getting worse and worse day by day they have they have thrown away legislation that was in place since 1940 about the the resourcing of the unions they are talking about. Labor reforms and they have already put in place labor reforms that damages really damages the outcome of the Union Activity in brazil unions in brazil are going through a very very worried present very very difficult situation in terms of their own resources to resourcing and talking and engage with the struggle with the government because of the labor reforms government is putting in place that goes against workers and unions and just one last question very quickly present or suggested the e. U. Mercosur deal even as it is in process could spur a domino effect of either a trade deals perhaps most immediately with japan do you think i want to happen. I dont think so i think that there is a speed grable speed on these trade agreements since the ninetys and mostly since 2005 so i think that i dont think that this bill by regional agreement in case it is put in place legally put in place can bring more speed to other agreements that could take place well see what happens in the near future but i dont thing. That this will be getting. A round of new. Trade agreements around the world because of these by ridge by region agreement thank you so much Ruben Gore Jr president of the your global union. The Brazilian Senate has recommended that the chief Financial Officer and former c. Of the corporation be indicted for manslaughter over a deadly dan collapse that killed 350. 00 people. The Worlds Largest producer of iron ore a nickel has been under scrutiny since a precarious dam holding back mining waste collapsed near the town of ho in the state of minas gerais rise in january now after a series of public hearing over 120 days a Senate Committee has recommended 16 indictments on manslaughter and other crimes 14 of the recommended indictments are against individuals and 2 against corporations including by the way the former. Cited by the committee is a short men who stepped down in march the committees findings do nobly gate prosecutors to charge the targets but will certainly add to the public pressure for action. Despite a truce in the trade war between the United States and china and President Donald Trump a decision to allow u. S. Companies to sell tech to hallway the Chinese Telecom giants founder rents and fe doesnt think that it will have much of an impact on their business in a Statement Issued to the Financial Times mr gross said of the situation president trance state ments are good for American Companies while way is also willing to continue to buy products from American Companies but we dont see much impact on what we are currently doing we will still focus on doing our own job right joining us now to dig deep into what the treaty from the us means for a while way is r. T. America correspondent alex mccaleb and. Boom bust. So 1st stop alex why are they concerned that way has over this reprieve and the ban on American Companies selling tech specifically semiconductors to the Chinese Telecom giant. Faiza pretty much said it all is you know hes welcoming this news from trump but hes taking it with a grain of salt he knows that the way the us operate there is going to be a lot of opposition to loosening anything worthwhile way because of socalled security concerns especially coming from china hawks in the u. S. Government so one step forward he said you know what we were going to keep doing business as usual as you just mentioned we want to do things right and thats what wall way is doing and thats where they want to stand out working with the u. S. Companies would be absolutely great we know that Companies Sell software as well as chips that and other goods to wall way they worked in combination American Companies obviously that have worked with while they want to keep doing business with why because it means money for them but at the same time always says well you know theres other places that have that kind of stuff and we can go to other countries we even believe in our own chinese industry to be able to produce what the americans can and heres the problem once you lose this type of client its really difficult to get that client box so thats a problem of the u. S. Is going to say but here is what the c. E. O. And founder of always said heres a quote from him which is quite in story interesting that the u. S. Is helping us in a great way by giving us these difficulties under external pressure we have become more united than ever so what the way chief executive is basically saying here is that you know what weve gone to these other places weve had to be resilient weve had to diversify were working with other people now and you know what were were here were here were not going away theres plenty of countries that you can use our products so with or without the u. S. Were just going to keep chugging along and sure wed love to work with the u. S. There is that possibility and with what President Trump is saying of course this means more business for everybody but last i mention theres going to be a lot. Of opposition coming from within the u. S. Government now brand may google temporarily banned highway funds from receiving updates from the android operating system only to turn around and give the company a temper a 90 day stay which allows tablets and phones running anti to receive the updates until mid august now that there is a truce in the trade war and the restrictions i cant follow i have been relaxed what does this mean for huawei the use of the worlds most popular mobile operating system its actually very interesting because while away is self doesnt actually know what this means for their use of the android operating system i want to talk about a quote myself tim de soie ways Vice PresidentRisk Management and partner relations was asked about this on monday and he said quote we acknowledge President Trumps comments related to while away over the weekend and well wait for guidance from the department of commerce but i have nothing further to add at this time and the u. S. Commerce department has actually not responded to this as of yet and now as we mentioned while way has until mid august to use android to work out their own system and i enjoyed did that because what they wanted was to secure it so that way they were using an updated version that were outdated and were vulnerable to any sort of issues now they also theres a couple things to note here that according to a report from the South China Morning Post a recently while ways actually been working on their own proprietary operating system code named on may since 2012 and in the event of this exact situation what happened when asked about it they essentially say they prefer to use android for mobile and windows for their p. C. But they have to protect the interests of their customers and theyve even started to court some of the Google Play StoresApp Developers to be published on their own marketplace so thats what theyre working away now just something to remind you of in china they use a really pared down version of the android operating system that uses a backbone but its not the latest greatest version but whether that it work in the west where we want the latest and greatest type of technology its hard to see so thats kind of up in the air and brant on a point. Since wall way is working on their own operating system what does that mean for google suite abouts native to android that might not then be available on this new system is very interesting because you know you might you may remember back when android was kind of coming to prominence and i. O. s was their big competitor the apple operating system there was a situation between the 2 companies where apple didnt want google apps google didnt want to let apple use their apps and so what happened was you didnt have google maps which is the number one when g. P. S. Was it was becoming a big thing with smartphones and so what happened was apple had their own maps apple maps that became disastrous sending people everywhere but their own destination public outcry happened and guess what google maps ended up on the system so this could be a situation if weiwei did their own proprietary system in the west but again you know look at what was biggest market of china all of the google apps are actually blocked in the country without the use of some sort of v. P. N. So as it is now it could easily you know prop up some of chinas biggest sites and apps for example i want take a look at a couple of videos streaming and hosting Sector Companies so in the west the market is dominated by you tube which boast about 2000000000 monthly users but there are some giants in check that most just china that most westerners have never heard of for instance theres you do which is roughly 500000000 monthly users and is owned by chinas Largest Company and ali baba theres also a key which is a streaming site that has around 500000000. 00 monthly users and is owned by the google of china by do and finally there is 10 percent video of course owned by china chinese multi media conglomerate 10 cent and average about 900 monthly 1000000 monthly users now think about this if you know why always making their presence felt in the west if they were to start using their own operating system and these types of apps were native they could start to compete with that you tube and that could be a big deal. And alex with the situation seeming to finally have some sort of clarity what does it mean for a while the c. F. O. Men one jew. Who of course was arrested in vancouver in december at the request of the United States authorities. As it stands right now meg her lawyers here in canada what theyve basically been saying is that you know this this whole thing is without merit and thats being backed up by some of President Trump suggestions what hes saying you know what this whole thing might go away we might stop the whole extradition process if we get a deal with china so as you can imagine the lawyers are jumping on that as well is that in some political circles here in canada former Prime MinisterJean Chretien hes also one of the people pushing forward saying that you know what it might be time to let go simply because we want to better our relations if thats what hes saying the canadians want to better their relations with with china 2nd biggest trading partner and also the 3rd Justin Trudeau i mean he cant really do very much at this point but if it ever did come to extradition thats when the Prime Minister could come in talk to his minister of justice and say ok we need to stop this lets not be far down the road but right now there does seem some movement and some people talking about letting go i had a correspondent alex mahela back on r. T. Producer branch of our thank you both so much. Time now for a quick break but stay tuned because when we return the roller coaster rages on for a bit quiet as the krypto has seen its ups and downs and its not just decline as all coins have also taken a beating i mean morale us about liar venters is standing by to dig into the details of the debt and as we go to break here are the numbers at the close. This is a steak from the water bottle found in the stomach of the fish the brand is sponsor of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers theyre the bad ones theyre the litterbugs theyre throwing this away industries. Should be blamed for all this waste the company has promised to reuse the plastic. On the i knew that that is year and event for. The mountains of only grow. Out of context used in the wrong way carry very potential like any any psychoactive substance. Its used in the right way they seem to have quite a. Profound 30 to 10 sure and quite a good safety right on this one. Over the last 48 hours bitcoin has had a 30 percent correction following a very strong rally that has been in play over the last few months now as exciting as it would be to watch it just go parabolic we needed these periods of consolidation as big point we see some very strong support at the 10000 range as soon as it was breached it was met with heavy buyers bring it right back up you see the rising candlestick on the hourly which is a very good sign but presently the 5 day and 10 Day Moving Average has crossed over indicating that short term momentum is to the downside so there is a bit of selling pressure and volatility to wade through as we go back and retest the support levels are 9000 for a 3rd and hopefully the last time the old coins have also shed their values as most are correlated to bake wine but we have some pockets of strength where they really shined we have hollow chain bit torrent comodo these systems and that all decoupling from big quien and rally and hire so you. See a slight rotation in some of these older coins here but this is not the full liquidity exit yet and while we love looking at technicals for the Crypto Trading lets take a look at some of the fundamental factors fueling the strength the bank of International Settlements the central bank of Central Banks just reversed their stance on crypto from calling it a bubble a ponzi scheme and an environmental disaster the chief augustine carlston is now actively endorsing the creation and issuance of digital versions of National Currencies to tell us more we welcome ruby more alice partner at outlier ventures. So when they are here this is an interesting stance that b. I as has taken now so its doing a complete 180. 00 on its position regarding crept out and its also coming out with their own so this is essentially talking about the development of a Central Bank Digital currency which is basically no different than leap which means that it is a centralized currency which means that it can be censored it can be frozen it can be manipulated and lets be real this is a Digital Currency not a crypto currency so what is your stance and outlook on this. I think that b i asked was responding to 2 things here the 1st being that many Central Banks themselves have been exploring Digital Currency for some time now so if you mentioned there the central bank of Central Banks they have to be very responsive to the Central Banks around the world in the fact that this is a movement and this is the technology that Central Banks all over are starting to explore in very meaningful ways now the 2nd effect that they are also responding to you mentioned libra right with facebooks Digital Currency that theyre launching they are obviously very mindful of that and the fact that facebook is launching a Stable Currency that perhaps conservatives millions if not billions of people around the world but its not just facebook the b. A. s i believe in their annual report also talked about google and 10 cent and ali baba as other Technology Companies now getting into this space so they were spawning on those levels i think they know that you know the genie is out of the bottle now so for the b. S. Thats like well what are your wishes what are your 3 wishes in a world where additional currency is really becoming more prevalent. And really it seems to bode busy well obviously for the industry that no other be for taking such an interest in group goes and sort of legitimizing cryptocurrency is in a lot of peoples eyes but what do you think is there and goal here where do you see another group those. Relation to their old plans for centralized currency. And i think for the Central Banks of the i. M. F. I said. Thats not who the central banker or person in a large Significant Financial Institution currently but i have to imagine they just want to be able to keep on doing what they have been doing they want to be able to promote Financial Stability and security all around the world i have to think that you know the volatility that we were talking about earlier corey really concerns them as they think about what will currencies do in the future so im guessing that as they move towards putting more in digital form themselves that they can provide a more secure alternative for people that might be utilizing it going today and so that big coin becomes not a need to have but a nice to have a perhaps a less appear format to Digital Currencies that are more ubiquitous and supported by governments around the world but how will this actually solve any of the problems that are currently faced by the currency as existing today because from what theyre proposing this is no different than just taking your standard currency and just digitizing it. You know evolution especially financial evolution takes its time im sitting here in chicago where lets not forget you still have people at the border trade trading with open outcry gestures even though were now talking about big trading so i dont mind at all that the social banks are discussing this there will be problems in the future just as if you have problems in the past the important thing here is that they are embracing this type of Technology Innovation theyre trying to include more people in a more democratic way of providing finance around the globe especially perhaps of people that cannot access the Capital Markets as easily as others can today so i take this as an overall positive step in the right direction now lets move on over to x x ip has tremendous potential but as has since taken quite a hit recently they had a huge sell off recently trading down to 40 cents now that after 1000000000. 00 pieces were unlocked and on the move and speculation is that these acts are theists belong to a rebel exact. They were intentionally keeping x. R. P. Prices low in order to beckon more clients to leverage the x. Rabbit into their operations so do you think there is some sort of price manipulation going on here. You know in the crypto currency market every day it wouldnt be a regular day without some speculation one way or the other i will say this you know full disclosure i previously led the venture arm of this unique group and we invested in ripple series a round back over 4 years ago now in the early 2015 and i was observer on ripples board so lets not. Get carried away necessarily imagining that ripple or other firms are in some secret cave somewhere plotting for their own self interests or both a very has a long tenure in this space and has a very professional board these are not a group of management making their decisions in isolation i say this now having no soucy action with ripple but just based on my past interaction with them that collectively i think theyve always been working towards their long term vision of helping people helping the world really transmit value just the way that the world transfers information today. I mean more allies of ally ventures thank you so much for your time. Thats it by this time you can catch. The next time. As we speak laws organize care of it are on the march to the united. States virtually insatiate of our approach. Just because they say. Theyre out are no theyre not going to. You know its going to get in. The night. As you do is you know were going to see a more liberal goes unnoticed is this an issue for players that. Trumps impromptu visit to the d. M. Z. Separating the 2 koreas was unprecedented and historic indeed it was a bold even brilliant decision of course his political opponents particularly the democrats running for president and the media slammed an orthodox diplomacy is on the side of peace. And. I think. Thats a little bit. Of it. But. The u. S. Navy seal accused of multiple war crimes including a brutal and i can buy zone is acquitted by a minute terry cool words as they can witness claims responsibility for the killing. Protestors in tel aviv bunk. Doesnt throw petrol bombs off to an Israeli Ethiopian teenager is shot dead by an off duty police officer. I tell of true sacrifice thats revealed the 14 sailors who died in a deep sea vessel fire in northwest russia gave up their lives to save colleagues. And supporters the julia songs react when