i'm kasia madera. our top story: rescue workers and volunteers are celebrating the end of a daring mission to free 12 boys and their football coach. thejunior team had been trapped in flooded underground tunnels, before being found by british divers last week. donald trump has arrived in brussels for a nato summit. ahead of his visit, the us president hit out at his nato allies forfailing to spend enough on defence, claims that were quickly refuted by eu leaders. and this story is trending on bbc.com. the actor george clooney has suffered minor injuries after a motorcycle crash in sardinia. the 57—year—old's scooter was hit by a car that failed to stop, causing him to slam into its windshield. the star was taken to hospital, but is now recovering at home. wishing him a speedy recovery. stay with bbc world news. our main story in the uk... a day after suffering two, high—profile resignations, theresa may has gathered her

new cabinet together for the first time. the prime minister described the meeting as productive. now on bbc news, time for asia business report. new day, new set of tariffs. the us says it's ready to hit china with additional duties on $200 billion worth of imports. and virtual technology isn'tjust for gaming any more. we find out how some businesses are using it to attract customers. good morning, asia. hello, world. it's wednesday, glad you could join us it's wednesday, glad you could join us for another action packed edition of asia business report. i'm rico hizon. another development in the trade dispute between the world's two

largest economies. we've learned this morning that president trump has ordered the us trade representative robert bly ties to start the process of imposing 10% ta riffs start the process of imposing 10% tariffs on additional $200 billion worth of chinese goods. this latest move stems from what washington assesses as chinese retaliation and failure to change practices —— robert lighthizer. that statement from the us state representative. the new list means around 6000 items, including agricultural products, minerals and consumer goods such as handbags will be affected. in the midst of it's a trade war with the united states, the chinese trade practices are up for review at the world trade organization. it's been 17 years since china joined the wto. china said it would lower its trade tariffs on imports and open its market access in several key areas of the economy, such as agriculture, manufacturing and

services sector. beijing promised to do a betterjob of protecting intellectual property rights. in exchange, china got access to the world's markets under better trade terms and along the way, grew to be the world's second largest economy. in addition, it was expected china would be recognised as a"market economy" by 2016. but that has not happened. our chief analyst explains why the us and the eu have blocked granting the chinese economy that status. although china has already done progress in a number of areas to reform and open up its economy, it is still lagging behind, especially on the intellectual property rights area, where china has now been enforcing the laws in place completely. that doesn't really deserve a market economy status. but on the flip side, does china really wa nt to on the flip side, does china really want to be recognised as a market

economy? because with the developing status, they could still implement protectionist policies. exactly. that's why the government has never called itself a market economy, at least not fully, so it still wants some room to do the planning and they also announced five—year plans and so on, that's not really a market economy. we're seeing them now opening up little by little, albeit really very slowly. now you have elon musk‘s tesla setting up a manufacturing facility in china without a foreign partner. yes, that's the first. that's very encouraging for other foreign companies potentially to enter china. given the trade war that's going on between the us and china, american companies will in the future have more incentive to do so the future have more incentive to do so and by doing that they can avoid the tariff costs, they can even lower their production costs because it is still cheaper in china. but with china entering the world

trade organization 17 years ago, now they're the second biggest economy in the world, they have really gained the most from this wto membership rather than other countries because other countries are complaining that they have a trade deficit with the mainland. yes, true. actually, between 2004 and 2017, there have been 39 complaints about china in the wto. that's smaller or fewer complaints than complaints about the us. a country as big as china will inevitably have more conflict than smaller countries on trade. i don't expect that to really change in the future. as amy mentioned, for the first time beijing will let foreign carmakers are set up shop on the mainland without a local partner. the shanghai government has confirmed elon musk‘s tesla has signed a memorandum of understanding, which includes plans to build a factory in

the chinese city. the facility will have the capacity to produce 500,000 ca i’s have the capacity to produce 500,000 cars annually. a federaljudge in the united states has cleared the way for hundreds of lawsuits against a giant agricultural medical manufacturer. it centres on claims a weak killer made by the company is linked to cancer. the us is stepping up pressure on producers of oil driving gasoline prices higher. they want to reduce oil exports from iran, the world's fifth biggest producer, to zero by november and that potentially means other big producers like saudi arabia would need to pump more to fill in the gap. the organisation of petroleum exporting countries, opec, will release its monthly report later today. an energy analyst expects it to show opec has ramped up production somewhat. all things considered, i don't think

too many surprises in that report. opec's too many surprises in that report. opec‘s president, jacob, has defended the oil cartel against a trump's demands for higher oil output, saying opec doesn't shoulder the blame. what's your take on this? i think, you the blame. what's your take on this? ithink, you know, lots the blame. what's your take on this? i think, you know, lots of what is going on is the trump administration is planning a statement that it wa nts to is planning a statement that it wants to impose sanctions that it will ring iranian oil exports down to zero, a couple of billion barrels off the market, prices reacted and there is concern if that happens you will see a tighter oil market and substantially higher prices. the trump administration's aims here are to get opec, saudi arabia, the uae and a couple of other producers to add additional production capacity. briefly, some experts are saying higher oil prices are a bigger threat to the united states than the

ta riffs threat to the united states than the tariffs and trade war with china. what's your view on this? well, high oil prices helped us reduces and exporters and that is somewhat offsetting. i don't think anybody really understands how disruptive a trade war would be —— helps us producers. vr is moving beyond the gaming genre. in asia more and more companies are using vr and augmented reality. it is trying to get consumers to interact and engage more closely with the company's products. next in our series on the experience economy, china correspondent stephen mcdonell looks at how the virtual world is catching on in the business world. right now, virtual reality is very

limited but i hope they'll be more competition and more people to enlighten this market. —— there'll be. these people are fighting zombies, at least in their virtual world. and you can see how physical it is. but if you want to play this game, you've got to get up out of the lounge room and come to the arcade. we're definitely giving a premium service. i assume in a year's time, that will be normal. for example, if they want to go

shopping, press the shopping button. a lot of people look at al and vr and think about it as a gimmick. it hasn't reached a very mature stage yet, but it's getting there. in the next few years, the ai stage yet, but it's getting there. in the next few years, the aland vr industry willjust boom. virtual reality can also have quite serious applications. this is a training exercise, what's going on here? inside there are things that have not been done right in terms of health and safety, so you need to spot them and fix them. if you don't, you see the consequences! this is crazy! that was fun. you get the feeling

businesses and organisations are still only scratching the surface in terms of the capabilities of this technology. but in the future, virtual reality will be seen and used in all manner of enterprises. stephen mcdonell there. the business of virtual reality in china. let's have a quick look at the markets and currently all are in negative territory amid reports that the united states says it is ready to hit china with additional duties on 200 billion us dollars worth of imports. thank you so much more investing your time with us. i'm rico hizon. sport today is coming up next. —— thank you so much for investing. this is bbc news the top stories this hour: rescue workers and volunteers are celebrating the end of a daring mission to free 12 boys and their football coach. they'd been trapped in flooded underground tunnels, before being found by british divers last week. donald trump has arrived in brussels for a nato summit.

ahead of his visit, the us president hit out at his nato allies forfailing to spend enough on defence, claims that were quickly refuted by eu leaders. lord carrington, the former foreign secretary, has died at the age of 99. he was the last surviving member of the post—war government of sir winston churchill. lord carrington served as a tank commander in the second world war, and his long ministerial career ended when he resigned at the time of the argentine invasion of the falkland islands in 1982. our diplomatic correspondent james robbins looks back at his long life. people looking for an example of a british politician resigning as a matter of honour often point to lord carrington. he was foreign secretary when argentina invaded the falkland islands in 1982. theirforces simply walked into port stanley. britain was unprepared, and the foreign office blamed for ignoring intelligence. thejudgement was wrong, and i'm responsible.

and therefore i thought, honourably, i ought to go. a british taskforce left to liberate the falklands, and an official inquiry later cleared lord carrington of any responsibility. the young peter carrington had been a distinguished soldier in the second world war, awarded the military cross as a tank commander. a hereditary peer, highly educated, charming, he was the last survivor of churchill's 1950s government. margaret thatcher appointed him foreign secretary in 1979. he played a major role helping end the guerrilla war in rhodesia and negotiating the birth of independent zimbabwe. lord carrington spent four years as nato's secretary general. then, in his 70s, he took on the role of eu mediator as yugoslavia collapsed into war. after he finally retired from public service, lord carrington was clear it should be a clean break. it's a great mistake when you are quite old, to pretend that you're not going to go along boring people

with your speeches. and i think, you've done your bit, and shut up. lord carrington was a natural diplomat. he was the last patrician tory aristocrat to hold such high office. the formerforeign secretary lord carrington, who's died aged 99. we have lots more as always on our website. don't forget, you can get in touch with me and some of the team via social media on twitter. ben bland will be here at 2am, but first of all, it's time for all the sports news with chris mitchell. coming upfor coming up for you in sport today: france will face england or croatia

in the world cup final after defeating belgium. france showed more functionality than flair, but the fans in paris didn't care. and the old lady is calling. ronaldo leaves real madrid forjuventus. many billed it as a classic in the making. a golden generation of belgian players up against the french, who seemed to be getting better and better. it wasn't a classic that many expected. we know it went in france's favour. let's go to moscow. olly foster is there. 20 years after france achieved world cup glory, they were led back to the