Phase one trade deal between the 2 countries signed in january china agreed to increase imports of u. S. Goods by over 200000000000. 00 over 2 years now the 2 sides held a call last week to discuss implementation of the phase one following a threat from u. S. President donald trump to pull out of the deal if beijing did not meet their commitments now the Chinese Foreign ministry on tuesday spoke of the importance of upholding this agreement. Then the 1st phase of the economic between china and the United States china the United States and the world both parties should hold your examples of equality and Mutual Respect and jointly implement the agreement. To creating favorable. Conditions for implementing the phase one china u. S. Trade agreement and for more on this lets bring in expert analysis from todd horwitz chief strategist at bubba trading and topix with c. E. O. Of Transformative Research thank you both for being here with us today so but i want to dive right in here is there any significance to these tariff waivers were seeing out of china and what does this mean for the overall trade deal between the u. S. And china. Well you know brant the chinese can read polls in the polls say that the angry orange man is not going to be there after november so clearly if you from chinas perspective throw a bone here i mean number one number 2 a by the way before we had the penn demick they had their swine flu and i lost about 70 percent of their pigs and poultry so they need our poultry at the same time we have too many pigs that we cant deliver so this is about the the nothing is nothing concession ive ever heard this is geopolitics at its best chinese plate much better than we do because there are strategic will they have one tactic you get a tariff you get a tariff well guess what chinese just one this one this little round all right now but i want to i want to hit on this as well with you know amid the pandemic that we actually anticipate both sides will adhere to the deal and more importantly with the Economic Situation worldwide is there any chance of phase 2 coming in the near future as early who holds all the cards i mean to tobins point when it comes to more trade deals between u. S. And china. Well i couldnt disagree more with coal but i mean 1st of all i think the trouble beer for another 4 years so thats a 1st parcels like a bar that is this deal i know a lot of good china has never honored a deal their history yeah but just 1000. 00 im good ok. At the end of the day i think youve got a market that will never end here this deal chinas not here do a deal in their history why would we expect that to now theyve already got the w. H. O. And the trying to lean their way yet they cant when we could pull out and they need us a heck of a lot more than we need them and of course when you look at the big picture were going to shatter my god and we can we can exist right here without them we dont need them as part of our economy. Im sorry but im going to let you respond at this point. I dont know if youre smoking over there but what do you share some look at china is going to have a 4 percent g. D. P. Were going. A negative 8 percent g. D. P. China buys all of our electronic ironically our agendas are not going to open hellbent tell but youre talking youre talking right or if youre talking b. S. Look lets see what the real numbers are chinas a drop all theyve got more issues than we do they do need food they need a lot of things that theyre not going to be able to get theyre not going to have their biggest customer who buys more product than anybody else so lets lets not get into these semantics of whats going on where ok then today china is the us more than we need them and thats really what it comes out now but i want to let tobin respond lets try not to interrupt too much i do want to get both your opinions here so go ahead and finish your thought thought there well deployed is strategically china needs our electronics as much as they need our food number one number 2 they believe and i can they can read a poll just like i cant believe bubba just closed his eyes a little bit on that stuff that the big orange man is way behind hes losing on every one of his key states so their move is build a fence now and then when a new president comes in they start again thats classic chinese ive spent a lot of time in china i know how it works right now guys i know we can continue this conversation for the rest the segment above i want to i want to move on to another point here now saudi aramco announced tuesday a 25 percent drop in 1st quarter net profit as the pandemic has ravaged the oil demand now opec members are of course pledged deeper cuts which helped push prices up a little bit on tuesday whats the future outlook for oil at this point. When our oil is up to go trying to rally its up you know to some around the 30. 00 level and again will it will it stay here look at the end of the day if we get the economy open and we get the economy flowing and we start increasing demand then yes we get oil can start to will it go back to 50 i dont think so i dont see major high prices until we can get a full year. And start to use completely but the meantime were going to cut back on what you make here saudi arabia there everybodys going to cut back and try to create a supply shortage weve got such a glut to begin with that it could be a long time to go through what you already have in stock in what we have stockpiled but you know again i think if we have a smooth and this thing continues and we start to open and get more action than i can certainly theyll be a demand for oil and prices will resume to be more it was somewhat normal but again if we have any issues along the road you could see another negative for an oil before its all over if something happens and now tobin as we talk about oil d being you know crushed right now weve Seen Movement by the saudi government since 2016 to diversify their investment we even saw the Saudi Vision Fund take a 500000000. 00 stake in live nation the concert promoter recently what are they doing to diversify the economy and are there concerns are there concerns with the saudi government buying up pieces of Companies Worldwide especially american companies. Well i again saudi arabia is a as a country within a country the people who have the money has about 5000 people what i know exists i have Saudi Arabian investors in my funds some are subscribers i talk to them all the time theyre the worst market timers in the world if saudi arabia is putting money in live intent i would short that stock because theyve shown time and time again that they dont understand Business Cycles because they never have one there they dont understand valuation because they dont care and so i when they get real active in the markets to try to quote unquote diversify dude theyve got to have 80. 00 oil to pay all the people all the money that they promised and all the bonuses the nice stuff to keep the you know the keep the people settled these type investments are nothing to them and theyre going to turn out to be nothing theyve lost 2100000000. 00 in the softbank quote unquote you know a mystery find and theyre probably to lose another 5000000000. 00 and maybe somebodys head rolls at the bottom but the people at the top say hey lets 5000000000. So ben smith and Bubba Horowitz thank you both for the expert analysis much appreciate it. And lets take another global look at the trends and spread of the coronavirus with r. T. Correspondent side savage or so i where we today brian looking globally there are numerous countries looking to live for instructions and were obviously seeing that here in the u. S. Against even against the advice from Health Officials that are pleading to the government and to the public to maintain some sort of plan to avoid and new wave of infections because this pandemic is far from over and were seeing a lot of new cases daily specifically here in the u. S. Who are now topping the rest of the world in new cases and then in fact in russia now places them among the top 3 countries in the world that are affected by the deadly disease and now just in the last 24 hours russia reported over 10000. 00 and you cases and more than half of those new cases reported are in the capital city in moscow yet the countrys death rate is still still relatively low at under 2100 but critics are calling those numbers into question as are remains far lower than other countries now the u. K. For example which has about the same number of cases both countries have having over 220000 cases yet the u. K. Has more than 32000 deaths but the kremlin claims that the spike in new cases is because of a Testing Program that was carried out about a 6000000 test in the last couple of days and the lower death toll is because the same program has allowed medical staff to quickly identify those needing medical care but at taking a look at the following countries right here. Looking at us russia brazil india u. K. Peru saudi arabia pakistan turkey and chile these will all come from new cases just within the last 24 hours a so taking a look at all these numbers just show you how much theyre growing within just the last 24 hours which again shows that this pandemic is far from over you know so i want to go back to the economy here though this pandemic has obviously slowed Global Commerce to a crawl but were what are countries doing to help me through their economies. So even before this crisis many countries already have very high debt levels right which is why so many world powers are doing anything they can to prop up their economies during this downturn now lets start with china the worlds 2nd largest economy now during 822008 financial crisis spent about half a trillion dollars on a stimulus package and so china has roughly doubled as government dead to about 60 percent right now and many analysts dont think that they actually can afford to spend so aggressively again they get china has given about 80000000000. 00 to struggling businesses and is planning to cut Interest Rates in the months ahead now germany who had doubled their nearly 59 percent dead of g. D. P. In 21000. 00 has spent about 50000000000. 00 yours or about 10 percent of their g. D. P. To prop up their economy then a looking at the u. K. Who has about 86 percent debt at 2019 as they were negotiating a pro post with the e. U. Now could add another 5 to 10 percent out of their kind of me and in 2020 and so far britain has spent about 400000000000 pounds or about 15 percent of their g. D. P. To rescue their economy then to us at about 100. And 6 percent dead to their g. D. P. Purchased a 2 trillion treasury bond and on the fiscal side also passed 2 trillion stimulus package to get the us economy through the crisis lastly japan was already at a 238 percent debt to their g. D. P. In 2019 there responded with a massive relief package worth one trillion dollars to help the country through one of its most challenging periods in recent history brand arky correspondent saya tavenner thanks for keeping us up to date. And time now for a quick break but hang here because when we return elon musk is launching the lockdown rules in california as the calls for economic reopening continue in the country well break it all down with a boom bust battle in just a bit as we go to break here the numbers at the club. I. We go to work so you straight home will. Join me every thursday on the alex simon show and ill be speaking to guests of the world of politics sports business im show business ill see you then. With good reason Public Discourse is focused on addressing and finally each containing the kobe 1000. 00 pandemic now the focus is on devastated economies were in a recession will it be if into a depression will the recovery be a u. D. Or an elf. To good to bad is the end. Pleased. Or operation dying why are some of the wealthier neighborhoods its been far more contained in the numbers are much lower than some of the for a neighborhood to start a city thats increasing were working with can source outside state because theyre just so in their year so i think that it was. Tesla founder and c. E. O. Elon musk has found a new role over the past few weeks leading the tech resistance to government shutdowns now musk has announced that tesla will defy local orders and it is starting its california for Fremont California factory the announcement came monday on twitter and it supercharged a standoff over government orders at the companys california plant remain closed as part of efforts to slow the spread of coppa 19 joining us now just justice and other stories of boom bust cohosts christiane bence one bet i want to start with you musk says he is going to do this and really they kind of have despite orders for tesla to stay whole what is the value in this move for tesla and ilan musk. Well im not sure what the value is necessarily tesla other than getting its operations back up and running which i guess would be valuable for any Business Owner whats interesting about this story is that obviously the last few weeks really has been kind of as you said there the head of this kind of tech resistance so you have Companies Like facebook and google that are right to kind of lockstep with government orders and musk is taking the opposite position saying that this is the United States and we shouldnt be under these kinds of of lock downs and so hes been very defiant from the beginning virtually now he has restarted production lines at that Fremont California plant we also know that he tweeted out that after monday he said a Good Days Work and thank you for everyone for being here we know that on tuesday about 3 oclock eastern time a letter was sent from the Sheriffs Department to tesla and their chief Safety Officer telling them to shut down and that the Sheriffs Department was mandating they shut down because apparently Alameda County the county that the plant is in has more strict guidelines than the state of california has and so must actually sued over that saying that he should be able to operate under californias guidelines not under the more stringent local. Guidelines so thats kind of where the battle has been so far and so far musk says hes going to be on the operating line working with workers and if someone gets arrested he says it should be him. Im sorry go ahead christie i know youre all jacked up to talk about this yet because im like absolutely fine if he actually is the leader or the face of the tech resistance if thats what he wants to position herself to be but if he really was doing that then where was he during this entire big resistance where was he trained Net Neutrality he never took any position on any of those things but now when its something thats affecting his business his line of work oh now hes all up in arms about it until it actually makes him a big hypocrite in my book because right now hes basically saying hey california thank you so much for the tax subsidies thank you so much for those tax breaks and everything im going to take my headquarters and move over to nevada or texas is basically what he posted in a sense to lead a tweet so that he is only upset because this is a this is affecting his business directly and this is out making extreme backlash in california which is one of his main demographics and Consumer Population so they are the ones who was previously praising him for being thinking that oh musk its going to be the genius that saves the world from Carbon Emissions and everything now it seems to be finally that california is taking a stance and being like we are tired of his antics and thats it actually karen is going to send it to me just because in fairness and i know this and christine knows me and she knows im all about ideology right that that its not about your own personal situation if you have this belief system it should be true so i agree with what youre saying about that but in fairness to as with most people there are many people who are not passionate about their own freedom and theyre not passionate about you know these ideas or deals of what it means for limited government and having freedom until your own is taken away its easy to not worry about it when its someone else if it takes this for someone like you almost or many millions of americans across across the country or people around the world to say wait a minute. Why are these rules in place and do these rules make since and why is it that company is essential while im nonessential it might take this for some people to awaken im not saying the law must has been awakened im not saying hes been as the term goes red till him saying it might take that for somebody to wake up to see their own livelihood well right but i mean but i think christie i know this is what youre saying but i mean essentially hes got this huge high profile as a as a tech entrepreneur as an auto expert nor is a space entrepreneur now and it doesnt seem like hes fighting for other Tech Companies hes fighting for musk hes fighting for where hes actually trying to make sure he can push those vehicles out to keep getting them on the road i mean which does affect his bottom line but obviously you know hes made 10000000000. 00 what in the last year based on the valuation of tesla so hes doing all right now heres to your point earlier too i mean do you think this could actually affect sales if he were to fully pull out of california do you think this could actually affect sales because california is the most equipped to handle teslas theres charging stations everywhere theres actual tesla dealerships there more than there are anywhere else in the country do you think that could affect his bottom line in the place where probably the most teslas are sold here in the United States. And absolutely will affect his bottom line and thats probably why he deleted that tweet threatening to pull out of california and it probably also has to do with the fact that we just got numbers coming out of shanghai so if you remember last yea