LIZ: FOLKS COME IN BREAKING
NEWS, APPLE NOW AT THE EXACT
LEVEL THAT CAUSES IT TO BE IN
BEAR MARKET.
RIGHT NOW $185.65 IS THE LEVEL
AS IT CLOSES BELOW THE LEVEL,
THAT OFFICIALLY PUTS A 20% OFF
ITS RECENT HIGHS, WHICH MEANS
IT'S IN A BEAR MARKET.
APPLE AT $185 IN CHANGE.
ANNUAL HIGH $233.
APPLE IS ONE REAL PRESSURE
POINT, BUT IN NEW GUINEA ANOTHER
STORY.
HERE'S THE SETTING.
IMAGINE YOU'RE A VOTER AND IT'S
A PLAY.
THE ASIA-PACIFIC ECONOMIC
COOPERATION SUMMIT EMOTIONS
RUNNING HIGH AS TRADE TALKS
BETWEEN CHINA AND THE U.S. REACH
FEVER PITCH.
THE REHAB VICE PRESIDENT MIKE
PENCE LEAVING THE SHOW.
THIS ONE SENTENCE ENDED UP DEEP
FIXING ANY KIND OF ACCORD AS
CHINA SAID WE ARE JUST NOT
FEELING IT AND REFUSED TO SIGN
ON.
WE AGREED TO FIGHT
PROTECTIONISM, INCLUDING ALL
UNFAIR TRADE PRACTICES.
EVERYBODY WAS FINE WITH THIS
EXCEPT CHINA SEEN IT CALLS US
OUT AND IT IS I GUESS THEM IN
THE EXACT WORD THEY USE IS IT IS
ACTUALLY BEATING UP ON US.
ARE THEY ADMITTING SOMETHING?
I DON'T KNOW.
FOR THE FIRST TIME IN HISTORY,
AND THE OFFICIAL STATEMENT ON
TRADE WAS RELEASED BY THE 21
MEMBER GROUP.
GET READY FOR ACT TWO IN THE
TRADE WERE SHOWS SETTING BUENOS
AIRES FOR PRESIDENT TRUMP WILL
FACEUP WITH PRESIDENT XI NEXT
WEEK.
AMBASSADOR WITH FISH OR COD IS
JOINING US RIGHT NOW.
WELCOME, AMBASSADOR.
THANK YOU FOR BEING HERE.
>> MY PLEASURE.
THIS IS MORE DRAMATIC.
REPORTS OF CHINESE OFFICIALS
BEING HAULED AWAY BY COPS DURING
NEGOTIATIONS ON CUE CLAPPING FOR
PRESIDENT XI STANDING FIRM IN
THE FACE OF TWO SEPARATE PRIVATE
FACE-TO-FACE MEETINGS.
ARE WE ANY CLOSER OR FURTHER
APART FROM A TREATY WITH CHINA
CHINA AFTER THIS PAST WEEKEND?
>> YEAH, A LOT OF FIREWORKS
ADTRAN EYES.
TO SOME EXTENT THAT'S TO BE
DEAD.
IT DIDN'T HELP THEIR CASE AT
ALL.
BUT YOU KNOW, BOTH SIDES ARE
DOING A LITTLE BIT OF POSTURING
PRIOR TO BUENOS AIRES TO KIND OF
GAINS SOME ADVANTAGE WITH A
WIDER AUDIENCE OF COUNTRIES.
BUT LOOK, BOTH SIDES ULTIMATELY
ARE GOING TO HAVE TO FACE EACH
OTHER ONE-ON-ONE ACROSS THE
TRADABLE AND SEE IF THEY CAN DO
BUSINESS WITH EACH OTHER OR
WHETHER THEY ARE JUST GOING TO
REALIZE TO THE TIT-FOR-TAT TRADE
WAR.
>> AS WE LOOK AT WHAT'S GOING
ON, STARTED IN FEBRUARY WHERE
PRESIDENT TRUMP ANNOUNCED THE
STEEL TARIFFS AND ALUMINUM
TERRACE OF 25% AND 10% WOULD
KICK IN.
HE GOT PROPS FOR HIS TACTICS
BECAUSE ONE THING THE CHINESE
HAVE PROBABLY NOT BEEN IN I
CAN'T REMEMBER WHEN IS SOMEBODY
SAYING, HEY, WE REALLY LIKE YOU
GUYS LET'S GET SERIOUS.
THIS IS RIDICULOUS.
YOU'VE GOT TO BE FAIR AND STOP
FORCING US TO GIVE UP OUR
INTELLECTUAL PROPERTY IN ORDER
TO DO BUSINESS ON THE GROUND.
THAT'S NOT FREE TRADE.
THE CHINESE SEEM INTRANSIGENT.
WHAT IS THE BEST WE CAN EXPECT
OUT OF BUENOS AIRES?
IS IT A CEASE-FIRE OR A REAL
DEAL?
>> I DON'T THINK YOU GET A FULL
DEAL BECAUSE OF THINGS WERE
ASKING CHINA TO DO GO PRETTY
DEEP INTO THEIR SYSTEM.
HAVE THE SAME TIME THE U.S.
ISN'T GOING TO GET THE REST OF
THE WORLD MOBILIZED IN ON IT
SIDE AND PUSHING CHINA THE RIGHT
DIRECTION ON THESE DEEP REFORMS
WERE ASKING THEM TO MAKE.
IF WE ARE BUSY HAVING TRADE
SPATS WITH ALL OF THEM.
THE FIRST THING IS THE
ADMINISTRATION HAS TRIED TO
RESOLVE THE NAFTA NEGOTIATIONS,
GOT A NEW AGREEMENT THERE, BUT
THOUGH SOME PROBLEMS WITH THE
STEEL AND ALUMINUM TERRACE.
A LOT OF OTHER COUNTRIES IN ASIA
AND AROUND THE WORLD UPSET AT US
BECAUSE OF SOME OF THOSE
FACTIONS.
THE ADMINISTRATION NEEDS TO DO A
COUPLE THINGS.
NICE TO RESOLVE THOSE AS QUICKLY
AS THEY CAN, MOVING FORWARD TO
SOLIDIFY OUR POSITION IN THE WTO
AND BILATERALLY WITH OTHER
COUNTRIES AND THEN BE ABLE TO
BRING MORE EFFECTIVE PRESSURE ON
CHINA TO SIT DOWN.
THE BEST WILL DO AN BUENOS AIRES
IS SOME KIND OF A FRAMEWORK
BETWEEN THE TWO SIDES WERE THEY
FINALLY AGREE, OKAY, LET'S TRY
TO, YOU KNOW, SET AN AGENDA FOR
NEGOTIATION GOING FORWARD.
>> IT ALMOST SEEMS LIKE
PRESIDENT TRUMP IS RIGHT WHEN HE
SAYS BOTH REPUBLICAN AND
DEMOCRAT NEVER MANAGE TO DEAL
WITH THIS VERY GLARING
SITUATION.
I UNDERSTAND A COUPLE DECADES
AGO CHINA HAD NOT YET AWOKEN.
BUT AS YOU LOOK AT WHAT IS
HAPPENING, WE AS FARMERS HAVE
LEARNED TO REALLY DEPEND ON THE
CHINA CONSUMER, FOR EXAMPLE THE
SOYBEAN FARMERS ARE STARTING TO
HURT NOW.
EXPERTS OF U.S. TOY ARE DOWN
100%.
AMERICAN LIVING CANDIDATES ARE
PADDED WITH CHEAP, CHINESE
GOODS.
USE IN A BETTER POSITION HERE?
YOU DO HEAR A LOT OF AMERICANS
SAY IT'S HURTING BUT WE KNOW WE
HAVE TO PUT UP WITH THIS, BUT
FOR HOW LONG.
AND THEN YOU'VE GOT CHINA WHO
PUTS IN THE HUGE INFRASTRUCTURE
PRODUCTS THAT THEY HAVE A
BUILT-IN WAY OF EMPLOYING THEIR
PEOPLE.
THEY SPEND A LOT MORE IN
INFRASTRUCTURE THAN WE DO, SO IT
ALMOST MAKES US WORRY WHO'S IN A
BETTER POSITION.
>> WILL COME A TRADE WAR ISN'T
GOING TO HELP EITHER ECONOMY IN
THE LONG TERM.
OBVIOUSLY, CHINA HAS A LOT TO
LOSE IF IT DOESN'T HAVE FREE
ACCESS TO OUR MARKET.
AT THE SAME TIME, AMERICAN
COMPANIES HAD THEIR BEST YEAR
EVER IN CHINA.
THERE ARE TRADE-OFFS FOR US IN
THIS FIGHT.
I THINK OBVIOUSLY WE WANT TO SEE
CHINA CHANGE.
THE RAPID ESCALATION OF TEARS
AND UNILATERALISM ALONE ISN'T
GOING TO GET THE JOB DONE.
WE NEED A MORE SOPHISTICATED
STRATEGY THAN NOT.
WE NEED HELP FROM THE REST OF
THE WORLD.
WE NEED TO BE TAKING THE HIGH
GROUND IN TERMS OF BUILDING A
SYSTEM OF TRADE RULES BECAUSE
THAT THAT'S WHAT WE WANT CHINA
TO DO, WE HAVE TO SHOW THE REST
OF THE WORLD WE ARE PREPARED TO
PLAY BY THOSE RULES, TOO.
LIZ: AMBASSADOR RUFU YERXA COMIC
THANK YOU.
YOU'RE SAYING YOU DON'T SEE A
MAJOR DEAL COMING OUT OF IT
LOOKS LIKE WE ARE HEADING FOR
THE MOST EPIC TRADE SHOWDOWN
SINCE THE CLEVELAND INDIANS
TRADED DETROIT.
IT'S ACTUALLY BIGGER THAN NOT.
I'LL BE RIGHT THERE IN ARGENTINA
FOR THE G20 ON NOVEMBER 30th
FOLLOWING EVERY MOVE BY