Listen: China, CBS, Budd Mishkin discussed on Overnight Talk
"I'm Budd Mishkin. Well, the Trump administration's tough stand against China eventually bear fruit for American consumers. That's one of the questions in the aftermath of two days of trade talks and no deal. He Trade Representative Robert lighthizer says his office is preparing a new round of tariffs on three hundred billion dollars of Chinese goods, currently untaxed CBS's. Steven Portnoy, generally, speaking, Republicans oppose tariff, says it's American consumers who pay them the administration's expecting Beijing to again retaliate against US farmers, but Senator Lindsey Graham defense. The president's move tweeting when it comes to China, we must be willing to accept short term pain for long-term gain. Mr. Trump's goal is to get China to change its trade practices, like forcing American companies to turn over their technological secrets before they can do business in China. I'm Jeff Gilbert in Detroit the issue with tariffs is costs as veteran auto analysts, Rebecca Linlin while. The cost will hit automakers. I they will eventually find their way to consumers they may not notice or be impacted directly by this uncertainty, but they will start to feel it. If vehicle prices changed the terror of concerns, come as several carmakers are already having trouble making money in China. Jeff Gilbert, CBS news, Detroit, the house passed a disaster aid Bill intended to help farmers and other victims of natural disasters. CBS news correspondent Bill Rakoff. The Bill does include approximately nineteen billion dollars overall in disaster relief funding and includes six hundred million for nutrition programs in Puerto Rico. The president says Puerto Rico is getting ninety one billion dollars in disaster. Eight already, but Puerto Rican governor Ricardo Rossello disputes that saying that territory is only received about eleven billion dollars in Iran. The revolutionary guard has ruled out any talks with the US aimed at getting Tehran to give up its nuclear program. CBS? David Martin reports that a carrier strike group has passed through the Suez canal and b fifty two bombers have landed an airbase in the Persian Gulf in an interview with Margaret Brennan for Sunday's face the nation. Former Defense Secretary Robert Gates said he's worried the stages stage is being set for a conflict that neither side wants."