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tv   Asia Business Report  BBC News  May 1, 2018 1:30am-1:46am BST

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israel's prime minister, benjamin netanyahu, has unveiled what he says is new and definitive proof of a secret iranian nuclear weapons programme. the presentation comes less than two weeks before president trump is expected to decide whether to pull the us out of the 2015 iran nuclear deal. vatican treasurer cardinal george pell will soon arrive at a melbourne court to learn if he will face trial for charges of sexual assault dating back more than 20 years. and this video is trending on bbc.com. sajid javid has been appointed britain's new home secretary as the government struggles to deal with a row over deporting immigrants. his appointment follows the resignation of a key ally of the prime minister, amber rudd. that's all from me for now. stay with bbc news. and another top story here in the uk. the chief executive of sainsbury‘s has apologised now on bbc news all
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the latest business news live from singapore. president tried postponed a decision on whether to impose steel and aluminium tariffs on us allies. bonjour australia. french president macron hopes to drum up more business down under after a stopover in washington, dc. good morning, asia, hello, world. glad you could join us. newsjust in, the trump administration has decided to hold
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off making a decision on whether to impose steel and an elite —— aluminium tariffs on canada and the european union and mexico untiljune one. the deadline to the temporary extension was due to expire at midnight in the us however a deal has been reached with other allies. for the latest, i'm joined by kim giddleson. -- gittleson. no surprise. there was a delay. we hadn't heard any lea ks surprise. there was a delay. we hadn't heard any leaks from the administration about what they were thinking. i do want to say that the reports we are getting in suggest they going to kick down —— kick the can down the road when it comes to the european union and in theory, there is a deal that has been reached between australia, argentina and brazil, the big countries granted these temporary extensions. we are not sure if there will be one
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similarto we are not sure if there will be one similar to that which was struck with south korea. there was a bilateral trade agreement between the two countries in which south korea agreed to lower its tariffs on imported cars in exchange for being exempt from these tariffs are being subject to import quotas as world. perhaps that is the outline of the deal that other countries have agreed to but we don't know if that is the case yet. the european union has said they would not agree to any deal in which they would be subject to steel quotas. everyone will be waiting and watching over what happens. as to whether or not these countries will get an extension. when you take all these exemptions together, it accounts for two thirds of steel and aluminium imports. one
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has to wonder exactly what the trump administration is doing in suggesting these tariffs. he wants to protect the us steel and aluminium industries. it remains to be seen whether or not this is an opening volley in an ongoing trade war bridges the us stepping back from its initial strong tactics. with escalating tensions between america and its trading partners, especially mainland china, investors have been worried. a trade war between china and the us would not only hurt these two countries but also the rest of the region. what do you do when you think one of your trade partners isn't playing there? well, you can slap lots of tariffs on the goods the way the us as it will with china. anyway you look at
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it, it is the deficit of any country in the history of our world. it's out of control. or, like china has threatened the us. translation: we resolutely oppose this kind of unilateral protectionist action by the us. china will not sit idly by while legitimate rights and interests are her. we must take all measures to defend our rights and interests. but this tit-for-tat isn't just interests. but this tit-for-tat isn'tjust going to hurt the us and china economies, the two largest in the world, it will also hurt the rest of us. look at this chart. china exports around $400 billion worth of goods to the united states every single year and if you look at the 2016 figures, around half of thatis the 2016 figures, around half of that is made up of machines, and 10% of those machines are computers made in china. here's the problem. according to some analysts at least half of the products made in china are actually made out of china in
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countries like malaysia and vietnam and south korea and many of the products made in china have parts that are actually made in the surrounding countries and so those countries could end up taking a direct hit from a trade war, a loss that one estimate puts at up to 1% of gdp, so that's why when president trump threatens to put taxes on chinese goods, is effectively putting a tax on countries that help to contribute to goods that china puts together which is why the trade talks between the us and china this week matters so much to the rest of us. week matters so much to the rest of us. french president emmanuel macron is on us. french president emmanuel macron isona us. french president emmanuel macron is on a global charm offensive. last week he was in washington, dc and this week he is in australia and due to arrive in sydney later today that talks with by minister malcolm turnbull. it's his first visit to australia and he will be pushing for more trade between the two countries
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in the 2016— more trade between the two countries in the 2016- 2017 more trade between the two countries in the 2016— 2017 period, two way trade amounting to nearly 7 billion us dollars worth of goods and services. merchandise trade, cole was australia's largest export to france with over 540 million us dollars. cole also topped the list of exports to the european union. not surprising alcoholic beverages, perfumery and cosmetics made up the major exports from france to australia. over 500 french companies operate in australia and employ approximately 60,000 people. charlotte epstein from the university of sydney says emmanuel macron‘s main mission is to boost trade. he is coming here to trade not just the france trade. he is coming here to trade notjust the france but to build a bigger picture of bilateral europe australia relations, that is his aim. or emmanuel macron, it seems like years taking the lead for the eu, negotiating free—trade
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arrangements. at the moment, we know the previous natural leader of the eu was angela merkel, but has been pulled back by that of a backlash domestically and so emmanuel macron seize the opportunity and he is championing the cause of free trade, not just championing the cause of free trade, notjust on championing the cause of free trade, not just on the championing the cause of free trade, notjust on the behalf of france but he is creating the relationship i passing the uk, which is now out of the european union. it's a bigger picture that he is to build. what about for prime minister malcolm turnbull. what more would you like from the french? turnbull is as worried as the europeans about the effect of the us tariffs, like eve ryo ne effect of the us tariffs, like everyone and he has also signalled his firm intention and commitment to free trade. they both already have put on the table the fact they are going to be talking about free—trade and again, it's notjust about franco australian relations, it is about the european union. malcolm
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turnbull will read it in that way. what kind of impact would it have on the australian economy and french economy? again, it will have an impact on the european economy. the broader issue is what is happening to free trade. but then in what direction does it go? there is an important sense that it needs to be stopped. this kind of trying to highlight the points of multilateralism. that was coming to the next ally. charlotte epstein now from the university of sydney. in other business news, the chief executive of whatsapp is planning to leave the facebook unit, posting on
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social media just a couple of hours ago, saying he was taking time off to pursue interests outside technology, and that was followed up bya technology, and that was followed up by a note of thanks from mark zuckerberg. but his plan to leave comes zuckerberg. but his plan to leave co m es after zuckerberg. but his plan to leave comes after clashes with facebook executives over the strategy for messaging service whatsapp. the washing —— the watch —— the washington post reports he was at loggerheads with facebook‘s plans to gather barter and weaken encryption. it is labour day in many markets including singapore and hong kong and china and india and the philippines. those markets are closed today for a public holiday. but a quick look at the us markets. the dowjones but a quick look at the us markets. the dow jones industrial average.
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that is due to be iran issue in the tariff and aluminium steel issue. now that has been suspended. the nasdaq composites index down. including the likes ofjapan. nasdaq composites index down. including the likes of japan. you have been watching asia business report. the top stories this hour. iran has dismissed claims by israel's prime minister that it's been lying about a secret nuclear weapons programme. cardinal george pell will learn shortly if he's to face trial for charges of historical sexual assault in australia. he denies the allegations. a man who's terminally ill has
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appealed to judges to allow him to die with dignity. noel conway's challenge to the law is being heard at the court of appeal tomorrow. mr conway has motor neurone disease and he's been speaking to our medical correspondent fergus walsh. yep. 0k. there's an underlying feeling of profound anxiety that i live with, and that is, i don't know how i'm going to die. little by little, noel conway's strength is fading. motor neurone disease means his muscles are wasting away, including those that allow him to breathe, so he needs a ventilator, and he's totally reliant on his wife, carol. i want to end my life with dignity, cleanly, and in full consciousness. i don't want to linger on for weeks.
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what is it that you fear will happen to you at the end of your life? i will be completely immobile. it's the still being alive and yet not being able to use one's body that is the greatest fear i have. the central argument before the courts is whether the suicide act, which prohibits assisted dying, is an unjustifiable breach of mr conway's human rights. judges here interpret the law. they can't change it. that's down to parliament. three years ago, mps overwhelmingly rejected proposals to allow assisted dying in england and wales. the high court dismissed mr conway's case, but the court of appeal says the issues are of such importance the law needs further examination.
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campaigners opposed to legalising assisted suicide say the current law protects the vulnerable. we are concerned about those who have no voice, those who are demented, mentally ill, elderly, or sick, who would feel pressure to end their lives out of fear of being a burden. the issue noel conway is raising is of profound importance to society, and both sides of the debate believe passionately they are trying to uphold basic human rights. don't forget you can get in touch with me and some of us on twitter. hello, i'm marc edwards and this is sport today, live from the bbc sport centre. coming up on this programme:
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harry kane on target as tottenham beat watford to go five points clear of chelsea in the race for champions league football next season. ole, ole! it's party time in barcelona as barca celebrate their 25th la liga title with their fans. and ding junhui cruises through to the quarter finals of the world snooker championship. we catch up with the chinese superstar. hello and thanks for joining us on sport today. let's kick things off with some football for you. one game in the english premier league on monday, tottenham hotspur have given them some breathing room in their hunt for uefa champions league football next season. they beat watford 2—0 at wembley to give mauricio pochettino's men a five—point lead over fifth placed chelsea with three games left to place. dele alli with the opener after 16 minutes before harry kane scored his 38th goal in all competitions this season,

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