Low currencyhe volatility. The british pound is stronger, but very fractionally, up 0. 2 versus the u. S. Dollar before the election. Incremental moves on trade. Lets get to the latest now. Bloomberg reporting that u. S. Tariffs set to take effect on sunday will be delayed, according to chinese officials. Meantime, House Democrats said they will back the usmca trade deal and are planning a vote next week. Rep. Pelosi there is no question that this trade agreement is much better than nafta, but in terms of our work here, it is infinitely better than what was initially proposed by the administration. Vonnie House Democrats declaring a win there. For more, lets bring in bloomberg trade reporter shawn donnan in washington. Todays developments on the trade front, how incremental are they . Shawn i think we got one really important big step on usmca. It is a remarkable day in what is a highly partisan washington, when we see a bipartisan agreement on a trade deal. Trade politics are always t
Will be on the books. David she did go out of her way to say it is way better than what they tell us from the white house. What are the real differences . Josh the big one for me is the change of pharmaceutical rules. The deal would have guaranteed patent protection for 10 years from biological drugs. They are specialized types of drugs. It only impacted canada and mexico and it is now out of the deal. It is good news for canada and mexico from the government perspectives. The reason she wanted the other deal was it permitted the u. S. To go under the 10 year number themselves. She probably wants to do that. That would be bad news for pharmaceutical companies but would allow generic drugs to be purchased sooner and therefore drive down costs for consumers or users of those drugs. David it always comes back to drug prices. Thanks to Josh Wingrove reporting from washington. Now we go to bloombergs Anna Anderson. We also learned two articles of impeachment will move forward. Anna it was q
Sign it at the economic summit in july. That was postponed indefinite in chile. That was postponed indefinitely due to the protest. Then President Trump circulating they would sign that agreement in iowa or alaska or somewhere in china. Reuters reporting that they might have to wait until december. David is not just the december 15 tariffs. Yesterday the reports there might they might roll back the september ones. I wonder if it is scheduling problems or there is more to be done . Kevin i have talked with several sources working with the white house in terms of negotiating with the chinese, and what they indicated is this has been an incredibly volatile negotiation, to put it mildly. In addition to key aspects related to access to Financial Service industries in china, agricultural purchases have been on the negotiating table, with china saying they would be open to purchasing more Agricultural Products from the u. S. Lets not lose sight of the more contentious issues, including intell
Nature. Just moments ago, house intelligence chairman adam , asking Jennifer Williams about how President Trump tweeted she was a never trumper. Would not describe herself that way but she was rather never part of it. The white house continuing to push back against williams. All of this one day before Gordon Sondland set to testify. He is the individual that was reportedly on the other end of the phone call between President Trump. President trump asked Gordon Sondland specifically for an update with whether or not president zelensky was looking into the bidens. David many thanks to Kevin Cirilli reporting from capitol hill. Lets turn to bill faries. Big development in the middle east, particularly towards the west bank. Bill yesterday secretary pompeo announced the u. S. Would no longer view most of the settlements in the west bank as illegal under international law. He said he was going back to a position held initially by ronald reagan, but it is something that takes place in the co
Growth, Economic Growth, will we be able to vote in 2020 based on things like this, or will be focused on things like the conversation with ukraine . Michael i think we have the best journalists in this organization. You have every reason to be proud of the competency our organization has. Having said that, the public wants the ukraine stuff, so you the ukrainelic stuff. I would argue that we have given the force estate the Fourth Estate certain predictions so that you dont have to do that. Your response ability is to inform the public of what is going on honestly and fairly, down the middle. Unfortunately, the economic models of most news organizations not bloomberg, because we dont depend on it as a Revenue Source everybody is moving away from the news that the public needs to know to what is the news the public is going to click on. So you take a look at these 5 nowapers that are 1 print and 4 5 click bait, and they are not helping the dialogue. If the public doesnt understand what