[Lu Stout:] All right. Coming to you live from Hong Kong, welcome back. This is News Stream. Now, European Union tariffs are more than $3 billion worth of American goods are now in force. And new taxes are being leveled on several goods. This, of course, all in response to the Trump administration's tariffs on Europe. Now CNN's Anna Stewart joins me now live from London with more. And, Anna, first, exactly which products are being targeted, and what impact could this have on the U.S. economy?
[Anna Stewart, Cnn Correspondent:] It's a really wide range of tariffs actually, Kristie, and we did know about these months before, but today is when they're actually going to be implemented, and interestingly enough, they target some real Republican states. For instance, we have here peanut butter. That is one of the things that will be tariff. This is made a lot in Texas. Orange juice, Florida, of course, and things like rice, which are made in states like Arkansas. So, these are the sort of products we're seeing, and as of today, they are getting more expensive in the E.U., and what that really means is that for restaurants, shops, businesses that buy these products, they'll either have to absorb that cost, and damp down their profits, pass on the cost to the consumer. Or choose to buy the products from somewhere else, and of course that is what would be so damaging for the U.S. businesses if their customers drop off, and of course for jobs in the U.S. as well, Kristie.
[Lu Stout:] It was the Trump tariffs on aluminum and steel on Europe that kicked this off. Europe is retaliating. Could the U.S. hit back? Could this just go on and on, and be another front in emerging trade war?
[Stewart:] I mean, it really could, and we already know that the Trump administration has been looking into the possibility of tariffs on European cars. We also know that the E.U. has already prepared a list of more tariffs on the U.S. products of over $4 billion, so even more than this list. So yes, this is likely to continue, and it's not just obviously China and the U.S., and now the E.U. and the U.S., it's also Canada, it's Mexico, it's India, all these countries have prepared tariffs, many of them have been implemented. Canada's will be implemented in a couple of weeks on July 1st, so this is just ramping up, really.
[Lu Stout:] A number of flash points in this ongoing trade battle, Anna Stewart reporting live from London, thank you. Now, OPEC ministers in Vienna, they are preparing for a crucial vote on oil production. U.S. President Donald Trump says oil prices are too high, and has urged OPEC to boost supply. Saudi Arabia wants OPEC to increase output by 1 million barrels per day, but Iran does not think that this can, or should be done. CNN's John Defterios joins me now from Vienna outside the headquarters of OPEC. And, John, we've heard that there has been an agreement. Can you clarify?
[John Defterios, Cnn Emerging Markets Editor:] Yes. I can clarify it, Kristie. In fact, we spoke to the Saudi Energy Minister Khalid Al-Falih who at the start of the meeting says the overall agreement would be at 1 million barrels a day. The devil is in the detail, how they carve that up. It looks like they're going to iron out those details. The nominal figure is 1 million barrels a day, but it only goes to producers who actually have the spare capacity, so probably be about 700,000 barrels a day coming on to the market in the third quarter. This is clearly Saudi Arabia, and some of the gulf producers responding to the pressure of U.S. President Donald Trump saying that OPEC was getting greedy when prices rose to $80 a barrel in may. We heard complaints from China and India as well. But this is also a meeting, I think it's very important to suggest, where oil, and geopolitics are clashing, and clashing badly right now. The Iranians are holding out in this closed door meeting, trying to get some very tough language into the final communique against the United States for sanctions against Iran and Venezuela. Now, the de facto ruler and the ally of the United States of the OPEC Organization is Saudi Arabia. It's the biggest producer, and they suggest that this tough language is a nonstarter. Let's listen to the Saudi Minister.
[Khalid Al-falih, Saudi Energy Minister:] I think countries that have political complaints will make those political statements. They've made it outside the meeting over the last couple of days. They will make it inside the meeting. But the communique will not acknowledge anybody's political issues and problems.
[Defterios:] Very clear language coming in from the Saudi Oil Minister. The Iranian Minister told me in an exclusive interview a few days ago that he thought OPEC now joined with sarcasm, the U.S. Department of Energy because of the influence the U.S. is having here on proceedings in Vienna. In fact, last night, at a preliminary meeting right here at the OPEC headquarters, he decided to walk out as a gesture, suggesting he wasn't being heard. I don't think it will impact the overall production agreement. It is what the Saudis were suggesting, but it does tear at the unity of the organization. They worked for 18 months to take oil off the market, to raise prices, and they had a collective agreement. This is the first time in 18 months we see tearing in the unity of OPEC and non-OPEC producers, Kristie.
[Lu Stout:] Yes. It's been a very tense affair there in Vienna. John Defterios across it all for us. Thank you, John. All right. Neymar and the Samba boys, they are back in action against Costa Rica in the World Cup. Brazilian star Neymar has recovered from injury, and is in fact on the field right now. For more, World Sports' Alex Thomas joins me live from Moscow. Alex, today's first game, Brazil versus Costa Rica, happening right now, always in Neymar. What's the latest?
[Alex Thomas, Cnn Sports Correspondent:] Yes, I mean, far too early days to talk about the game itself, nil-nil, currently, Brazil desperate for a win really to get step closer to reaching the knockout stages, the round of 16 after a disappointing draw in their opening game against Switzerland. It's Serbia that are atop the group after winning their opening match against Costa Rica, and it's Serbia that Brazil have to play in the final game, so they don't want to come away with only a point, or even a defeat out of this one, and have to beat Serbia, or risk going out at the group stages, which would be a national disaster for a country like Brazil that loves their football so much. The spiritual home of the game, even though it was invented back in the U.K., because this is the country that has been the most successful in World Cup history, having lifted that famous trophy on five occasions, and looking to bounce back from heartbreak on home soil four years ago when they reached the semifinals, and then were thrashed 7-1 by the eventual champions, Germany. Kristie.
[Lu Stout:] Yes, so much on the line for Brazil, and we got to talk about Argentina. Messi, what went wrong, and can Argentina make it right?
[Thomas:] Argentina is still in this World Cup, Kristie, but only just clinging on by their very fingertips. One of those results that had you waking up this morning, and pinching yourself, and checking your smartphone just to make sure it actually happened. Croatia, winning, maybe, you could see that. They've got excellent players that play for some of the biggest clubs in Europe, led by Real Madrid star Luka Modric who scored when they goal, but 3-nil thrashing, really? When you're up against not only Lionel Messi, Barcelona super star, five times world player of the year, and who's won everything in the game with his club Barcelona, but also Sergio Aguero, Gonzalo Higuain, just players of the highest caliber, lots of fire power going forward for Argentina. Perhaps not with the midfield, and defense that are able to support those star attacking players, and the Argentina coach certainly took a lot of the blame on his shoulders, saying it was down to his tactics. He got it wrong, and he apologized to the team, and to the country who are definitely in mourning, although mathematically, they can still get through, and they'll be wondering they'll be relying a lot on what happens in the Nigeria-Iceland game kicking off at 6:00 in the evening in Volgograd later, Kristie.
[Lu Stout:] All right, Alex Thomas live in Moscow, thank you, take care. Coming up right here on the program, we've got chaos and mixed messages with thousands of children caught in the political cross fire. We're going to be live in Texas after the break.