Fox Business Network

Fox Business Network 2 Dec 2019

Brazil, Argentina reportedly benefited from US, China trade war

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FOX Business' Hillary Vaughn reports on President Trump placing new tariffs on Brazil and Argentina, China trade negotiations, and the limited time Congress has to pass USMCA.


Millions of US farmers are suffering because of Trump's trade war, but not the country's garlic growers.
They are actually profiting from the standoff with China.
For decades, cheap Chinese garlic imports undercut domestic producers in the United States. Now, garlic growers are smelling the sweet scent of punitive tariffs.

Al Jazeera's Rob Reynolds reports from Gilroy, California, a spot where the taste of tariffs makes a savoury economic sauce.
German Chancellor Merkel is holding trade talks in Delhi with Indian Prime Minister Modi. Among the items on the agenda are renewable energy and urban transport. Both sides see potential in the fallout from the trade war between the US and China. The two leaders have signed wide-ranging agreements to deepen their strategic cooperation. Prime Minister Modi also said they will also work to combat terrorism and extremism.
Chile is regarded as Latin America's most stable economy but the US-China trade war could now be undermining its success.
The price of copper, Chile's main export, has fallen 17 percent this year and the value of the Chilean peso, regarded as one of the most stable currencies in Latin America, has dropped to its lowest in more than three years.
The government had forecast robust growth for this year, but a sharp rise in unemployment shows that the economy is taking a hit.

Al Jazeera's Lucia Newman reports from Santiago.
The US-China trade war is in its second year. New tariffs on Chinese imports suggest that the world's largest economies are moving further away from a deal. Meanwhile, Hong Kong protests continue to add pressure to both sides (5:43). The Queen has approved UK Prime Minister Boris Johnson's request to shut down parliament until mid-October. Outraged MPs are calling this coup (0:58). Rapper Meek Mill is now free after pleading guilty to a misdemeanor gun charge after a 12-year legal battle (16:10).

#QuestionMore #RTAmerica #InQuestionRT

… show captions ↓
LAUREN, GREAT JOB, THANK YOU,
VERY, MUCH.
BRAZIL AND ARGENTINA THE LATEST
TARGETS FOR TARIFFS BUT THERE
MIGHT BE AN ULTERIOR MOTIVE AND
TARGET HAVING NOTHING TO DO WITH
THE COUNTRIES.
HILLARY VAUGHN WITH THE LATEST.
HEY, HILLARY.
REPORTER: NEIL, PRESIDENT TRUMP
TARGETING NEW TARIFFS ON BRAZIL
AND ARGENTINA, TWO COUNTRIES AT
THE START DODGED ANY METAL
TARIFFS.
THE PRESIDENT HOLDING BACK IN
GOOD FAITH TO REWORK TRADE
AGREEMENTS WITH WITH BOTH
COUNTRIES BUT NOW THAT IS OFF
THE TABLE.
THE PRESIDENT ACCUSING ARGENTINA
AND BRAZIL OF MANIPULATING THEIR
CURRENCY TO UNDERCUT AMERICAN
FARMERS AND MANUFACTURERS.
BOTH PROFITED OFF THE TRADE WAR
WITH CHINA, PICKING UP BUSINESS
AND SELLING SOYBEANS AND OTHER
PRODUCTS TO CHINA.
SUPPLY CHAINS MAJORLY FILLED BY
U.S. FARMERS HERE.
ON FOX BUSINESS, COMMERCE
SECRETARY WILBUR ROSS THAT CHINA
HAS A HARD DEAL TO GET PHASE ONE
OF THE DEAL ACROSS THE FINISH
LINE DECEMBER 15th.
>> WE NEED A OVERALL PACKAGE
THAT MEETS OUR REQUIREMENTS FOR
THE PHASE ONE, AND IF SO A LOT
OF THINGS MIGHT BE POSSIBLE.
BUT IT IS GREAT THAT HE HAS THE
HAMMER OF DECEMBER 15th,
BECAUSE THAT'S A REAL HAMMER.
IT WON'T INTERFERE WITH THIS
YEAR'S CHRISTMAS.
NOBODY'S REORDERERRING STUFF
AFTER THE 15th OF DECEMBER.
RETAILERS HAVE STOCKED UP.
SO IT'S A VERY GOOD TIME IF WE
HAVE TO PUT MORE TARIFFS ON.
REPORTER: TODAY HOUSE SPEAKER
NANCY PELOSI IS IN MADRID
SIGNALING THAT THE USMCA IS
STILL IN HIM BOW.
DEMOCRATS WANT MEXICO TO ACCEPT
BETTER ENFORCEMENT MEASURES FROM
THE U.S. TO MAKE SURE THEY KEEP
UP WITH LABOR STANDARDS, SAYING
TODAY, THAT THE DEAL ON THE
TABLE IS STILL NOT GOOD ENOUGH.
CONGRESS ONLY HAS EIGHT WORKING
DAYS LEFT IF THEY WANT TO TRY TO
PUT UP THE ALL OOMPH FOR A VOTE

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