this is business live from bbc news with maryam moshiri and sally bundock. the united states announces tariffs on another $200bn of chinese products as it intensifies it's trade war with beijing. live from london, that's our top story on wednesday the 11th ofjuly. china says it's shocked by president trump's latest salvo and threatens to retaliate against what it says is totally unacceptable action. also in the programme — rupert murdoch's 21st century fox raises it's bid to take full control of european tv giant sky as it tries to turn off a rival bid from comcast. finding yourfashion.

do you want the latest clothes from the catwalk but don't know where to look? we'll speak to the woman whose website it helping smaller labels reach bigger audiences. and as retailers celebrate their own world cup bonanza, today we want to know — what are you spending more on as you celebrate your team s progress in the world cup? let us know — just use #bbcbizlive. hello and welcome to business live. the united states has stepped up it's trade war with china with plans for tariffs on another $200 billion worth of chinese goods. it says its taking the action because china retaliated against the tariffs that washington began imposing last week. president trump ordered those because of what he says is china's intellectual property theft and unfair trade practices. the new import tariffs of 10% could come into force as early as september after a window

for public comments closes. more than 6,000 products are on the list which includes food products, chenicals and consumers goods ranging from car tyres to handbags and toilet paper. this all comes after last week's tit—for—tat exchanges with the us imposing tariffs on $34 billion worth of goods and china replying with similar measures. one area of contention for the us is the subsidies china's government gives to companies that export their goods. research from the london school of economics suggests these could be worth $168 billion a year. let's go straight to beijing. stephen mcdonell is there for us. what is the reaction from china so far? the chinese commerce ministry in beijing has said that these new

measures that the us is threatening will hurt china the world and the us itself. china has threatened its own necessary countermeasures and said that this will include fresh legal action at the world trade 0rganisation. we are yet to see a new list from china about what good is it might consider, assuming that there are countermeasures with chinese tariffs on them, but there are other things that might do it. it might step up inspections of us goods coming into china or it might dragged its heels on approving certain types of investments to the us, and another possibility is the broad consumer boycott approach with chinese consumers boycotting us goods. all of these options are on the table and we are waiting to hear

some more specific announcements from the chinese government. how worried are the chinese and chinese media about the proposed tariffs not only on the economy but also relations between the two countries? i think there is genuine concern because you look at the two countries and they both have a lot to lose her china, with a huge trade surplus with the us has more to lose and it's just the way the mathematics goes. so there is concern, not only in those two countries but the rest of the world and you have to factor in these are the global economic powerhouses and if they fight each other, the ripples could go throughout asia and throughout the whole world. thank you steve in beijing for us. simon fraser, managing partner at flint globaljoins us now. simon, you were listening into the

conversation. interesting. if these new tariffs were to be imposed and we won't know that until september time, the process has been started by president tromp and this would cover nearly half of all us imports from china. give a short take on the impact? the volume of imports covered is about 7% believe new measures were introduced it would be a significant proportion and that will have an impact, it has an impact on markets and business confidence and an impact on companies in america and companies —— consumers as well so it's a significant escalation of what you might call hostilities between the us and china. some will say the tromp administration felt they had to ta ke tromp administration felt they had to take it a step further given the retaliation from china because they feel that beijing is not addressing

concerns about unfair trade practices. if you step back, it is true that the growth of china is the biggest issue facing the world at the moment and it's best to have china inside the international system but there have been abuses and president tromp is right to call the chinese out on these issues like subsidies, forced transfers and so forth. i don't blame him for that, but the way he is doing it by imposing these unilateral us tariffs and imposing them on other countries including some of his friends is, i think, the wrong approach. he is in brussels now at an important nato summit in many are worried that this story about trade will overshadow things to a great degree because on his way he was tweeting about europe. yes, he was and let's see what happens in the nato summit. he criticises europeans are not contributing to their own defence but also says europe is pursuing unfair trade practices against the

us so he has imposed tariffs on european steel and aluminium exports claiming they are a threat to us national security which is an unreasonable claim. the problem is if he picks fights with his friends he will not help collaborate with him on the genuine issues we all face regarding china. how bad do you think it will get? so far we are not seeing a reduction in anyway. the chinese have reciprocated but not escalating where as president tromp is escalating. i hope he keeps it in the wto system because the problem is if we have a bare knuckle fight between china and america it will not be pretty. everybody will lose, not be pretty. everybody will lose, not only china but many countries around the world. stephen, thank you for coming in. let's take a look at some of the other stories making the news. a federaljudge in the united states has cleared the way for hundreds of lawsuits against the giant agrichemical manufacturer, monsanto. the cases centre on claims that a weed—killer called roundup

is linked to cancer. monsanto insists that numerous scientific studies have failed to establish a link. the european plane—maker airbus has scored a key victory against its arch rival boeing. us airlinejetblue is buying 60 of its a220 narrowbody planes, a new airbus model for regionalflights. the planes are worth close to $5.1; billion at list price. the uk's data protection watchdog plans to fine facebook £500,000, which isjust over $660,000 over the cambridge analytica data scandal. the regulator has been looking into how the details of tens of millions of facebook users ended up in the hands of the political consultancy. the social network has yet to decide if it will to try to reduce the sum. electric car maker tesla has landed a deal with chinese authorities to build a new factory in shanghai.

it'll be the company's first factory outside the us, and has the potential to double the number of cars it can build worldwide. katie silver is in our asia business hub in singapore. nice to see you. everybody wants to hazel and certainly its investors to increase production. could this be the answer? they certainly hope so and it will double production with about 500,000 extra vehicles a year and the deal has been in the works for some time but what has really caused it to happen now is the ta riffs caused it to happen now is the tariffs you were talking about earlier in the programme. as a result tesla is one of those companies that was affected big time so they have increased the cost of the cars in china which is why this has come about. china sees it as a big win because they have been trying to get into the electric vehicle industry for some time and it looks like they might help tesla put some of the bill. it's also

being billed as a big win for tesla because china is such a huge market and have in the realm of around 28 million consumers buying car every year. by 2030 and electric vehicles will be mandatory in the country, so tesla shares were up 1.5% and there are still questions about how they will fund the operation and staff it, and even with that answered it will still be a least two years till we see the cars coming off factory i’u nways. we see the cars coming off factory runways. kate, thank you very much. not a pretty picture on the markets. asian markets suffered a little today after a sell—off in china. the us threats of tariffs on an additional $200 billion worth of chinese goods dampening spirits. the hong kong market is down i.65%. in terms of european stocks they have opened, and surprise surprise, they take their lead from the rest of the world and investors are

worried as they have been on and off for a few weeks about the implications of a trade war between china and the us. kim gittleson has the details of what's ahead on wall street today. on wednesday investors will get a bit of breathing room before a slew of us corporate earnings continues later in the week. instead they will be treated to a bit of economic data. thejune producer price index will be released before us markets open here. now what the ppi measures is the overall cost of the inputs that businesses need, things like lumber and oil and gas, to produce the consumer goods that you and i buy. in may, the producer price index hit a six and a half year high and that was driven mostly by higher oil prices here in the united states also investors will be keen to see whether or not this trend continued in june. the key question is when businesses will pass these higher input costs onto consumers and what that could mean for us inflation. rupert murdoch's 21st century fox has increased its offer for uk tv

broadcaster sky to {24.5 billion, that's about $32.5 billion. the latest offer for the company which operate across europe is more than a rival bid from us rival comcast. joining us is james bevan, chief investment officer, ccla investment management. you've got back quite right apart from the letters. too many letters in the world right now. this story has been rumbling on for a while comcast versus 2ist has been rumbling on for a while comcast versus 21st century fox. everyone is up against netflix and amazon because disney is behind all of this. mr murdoch, who is keen to to sell disney, wants to make sure the sky is part of the deal because

if you say what does disney want to do, it wants to stream its own programmes and take them back from being distributed through third parties and expand aggressively abroad, into the uk and europe and india. but could comcast still coming? they could say, we want to write a bigger cheque and we want the business and at the moment sky shareholders are sitting pretty and thatis shareholders are sitting pretty and that is precisely because they will be in that is precisely because they will beina that is precisely because they will be in a more aggressive bidding war. the market figures over their callous the story of what the markets think of the latest salvo between china and the league —— us and it's important to say that ta riffs have and it's important to say that tariffs have not come into force yet, but how has sentiment been affected ? yet, but how has sentiment been affected? sentiment is depressed because we have had nothing but upgrades all year particularly in the us where people have said that the us where people have said that the tax comes —— cuts will add to revenue again meaning that

second—quarter earnings which will kick off in the states will be something like 20% up, year on year, a huge driver of the success of the us equity market and were we to have a difficult trade war leaning to reduce inflation, a lot of the optimism would disappear. so a lot of people hoping for good corporate earnings in the next few weeks. definitely good corporate earnings numbers will keep the market going but a lot of market participants think that mr trump is right to challenge china on trade issues not least because it's clear they have been after us technology which undermines the success of the us economic system but there is a broader view that they will not play by the rules because it has been changing its activities. you will be back on shortly to talk about interesting paper stories and the world cup match try. i wonder who is playing. england, england excavation mark and croatia. that is true. we

area mark and croatia. that is true. we are a global news channel, not forget. still to come... strutting your stuff online. we'll speak to the woman whose fashion website is trying to bring the latest catwalk collections straight to your computer. you're with business live from bbc news. more now on that fine for facebook from the information commissioner's 0ffice. it's being given a half a million pounds penalty for failing to ensure that political consulting firm cambridge analytica had deleted users' data. joining us now is our technology correspondent rory—cellan jones. he has been across this from the very beginning. so, this is the biggest fine the regulators could give out at that particular time and it could have been worse for facebook, couldn't it? it's the biggest fine under the old legislation and we just had the new

legislation and we just had the new legislation coming in at the end of may which would have enabled them to find facebook up to 4% of global turnover which is obviously a lot more. we can get too hung up on the size of the fine. it properly wouldn't matter if it was 50 million or £500 million, the key thing that is embarrassing is that the scandal won't go away and this is the first major action by any regulator around the world to punish it directly for that and it is in the dock again and the use of data is questioned. that and it is in the dock again and the use of data is questionedm won't go away. how much damage do you think it has done to facebook? it's done a lot of damage to its reputation and and bounce back, but it feeds into the sense that people are having their data collected for one purpose and use through another

which comes out in the report. they look not just at which comes out in the report. they look notjust at companies notjust collecting data for credit reference agencies and even for pregnant women. announced on them, they are being handed to political parties, and that is the general sense the data is not being controlled as we would like it that is clear in the whole report. burberry are saying the reason that they had poor sales number is because of the softer tourism demand impacting their business in the uk, continental europe and the middle east. interesting. you would not assume that necessarily given the environment we are in at the moment. your‘re watching

business live — our top story ——— china says it is shocked and plans to retaliate after the us announced plans for tariffs on another $200bn of chinese goods as the world's two biggest economies get further stuck into a trade war. a quick look at how the markets are faring. it's also predicted that wall street will open lower when they start their day as well. the fashion industry is an incredibly competitive one, with many high street retailers around the world struggling to keep ahead of their rivals. but it can also be a very lucrative industry. the global apparel and footwear market was worth a staggering $1.7 trillion last year alone. over the past five years the value of online sales have more than doubled to $237 billon, which is creating real challenges for many bricks and mortar retailers. 0ne tool to help businesses keep ahead is called tagwalk — it's a search engine

which references fashion collections by colour, style and designer, to let firms keep an eye on the latest trends. alexandra van houtte, the founder & ceo of tagwalk, joins us now. i realise the industry had a lot of fashion shows and designers and demand but there was nothing to sort them out. but the digital industry happened, then cuba happened and all of these apps make you go quicker and a bit lazy at —— uber. in that industry there was nothing like that soi industry there was nothing like that so i created tagwalk. so the website is photos of looks of fashion shows from the big four and if i wanted to

find orange outfits, i would put the word orange into the search engine and it comes up with all the orange gestures from paris, milan, london and new york fashion week. really simple. we have got 537 designers and we have 2800 keywords. what are the weirdest keywords that people have put in? i can't say that, it is private but we have weird combinations. and it takes maybe four or five days of work into half an hour. but it's difficult to raise funding to launch your business because you in the fashion industry, when you were approaching people who could invest, you felt that was a really tough job? i could invest, you felt that was a really toughjob? i think could invest, you felt that was a really tough job? i think the fan —— —— fashion industry has an image being very niche, very girly and not

bringing in that much money but the truth is is the industry is huge and is likei.7% of truth is is the industry is huge and is like i.7% of the french gdp for example. pharmaceuticals might jump at the idea of having something like that. you got them on board because you harassed them, you told me. you got them on board because you harassed them, you told melj e—mailed them. harassed them, you told melj e-mailed them. you were relentless. i was relentless and that is how it works when you are young, you can do it. how do you make your money? you don't charge for subscriptions.” it. how do you make your money? you don't charge for subscriptions. i am against charging a subscription. when young people don't have money and they need access they shouldn't pay for it. the brands that do not have a fashion show can pay to be referenced tagwalk, so if you are a young brand like i am wearing now,

she was referenced tagwalk and got a lot of advertising through tagwalk because it is neutral and everything is by alphabetical order. it is not a big brand that gets the most coverage, it is literally a neutral playing field. they get coverage because they cover a lot of keywords so when you type a keyword that will, but it's not because that you are not being looked at. we obviously amassed a lot of data. just a quick question you are half british, half french. who are you supporting in the world cup? that's a really awkward question. i will say i support whoever wins. i think, i don't know, it's awkward. alexander, thank you so much. in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us. stay up to date with all the day's business news as it happens on the bbc‘s business live page.

there is insight and analysis from our team of editors right around the globe. and we want to hear from you, too. get involved on the bbc‘s business live web page at bbc.com/business, on twitter we're @bbcbusiness, and you can find us on facebook at bbc money. business live, on tv and online. what you need to know when you need to know. what other business stories has the media been taking an interest in? we've been talking about the world cup and a huge match for croatia and england. james bevan, chief investment officer at ccla investment management, is joining us again to discuss. a huge football fan. i am english. football spending, the economy in the uk at least has received a huge boost and people are buying very strange things. there is an article on the bbc website about the top five spending boosts. what do you make of this article? there is an

inevitable issue here and the gareth southgate waistcoat has sold out that has been immensely popular in marks and spencer and inevitably there have been a lot of purchases of bunting and beer, no surprises there. television has been a huge beneficiary. tattooists are going to do well. there is a guy who has admitted to have england world cup winners 2018 already. you have got to be kidding. we have had lots of tweets about this, what have you been spending big on as your team progresses, not only england, but all the world cup teams. we had somebody called agrivert saying i am spending more time, not money, avoiding anything to do with football or tennis which is a bit of a party pooper. we have to mention wimbledon and we also have lorenzo who says, more to the point, i am sleeping more. because i have to go

to work. some games have clashed with work and if not i've had to stay up later to watch the games and i'm not getting enough sleep. james, who is going to win tonight? 1-0, england. interestingly the tennis has been great for the television providers. public houses have been installing to screen so they can watch tennis and football. on sunday afternoon they will both be on the same time, the men's singles final and the world cup final. so much more to look forward to. and we will keep up with all of that sport on bbc news of course. that's it from business live today. we will be back this time tomorrow. there will be more business news throughout the day on the bbc live web page and on world business report. we'll see you again tomorrow. we have got some rain in the

forecasted a mainly confined to scotla nd forecasted a mainly confined to scotland and northern ireland but for some it is the first significant rainfor for some it is the first significant rain for about three weeks or so. for many of us it should be dry today and it will feel warm as well and we should get some sunshine in the afternoon but the rain is associated with this week weather front which is towards the west of scotla nd front which is towards the west of scotland and the east of northern ireland. elsewhere a quiet weather pattern so it should be mostly dry. the rain could be heavy and will last into the afternoon across western scotland and the east of nor the line. the west of northern ireland and southern scotland it is dry and even some sunshine across the south—east of scotland and equally sunshine for england and wales. we start the morning with cloud across the west and the sunshine will gradually work back to the coast and temperatures fairly similarto the coast and temperatures fairly similar to yesterday about 21 to 25 that will feel warm and the sunshine

and 18 or19 that will feel warm and the sunshine and 18 or 19 celsius further north. let's fly underneath the clouds in moscow because something big is happening tonight. there will be showers in moscow through the day but as we get to kick off it should be dried with clear spells and temperatures of about 20 celsius. for the uk if you are back home, clear spells and a bit more cloud for scotland. the rain will have eased off and as we go through the night, temperatures getting down to 11th or 15 degrees. 0n night, temperatures getting down to 11th or 15 degrees. on thursday we start with cloud here and there but that will give us sunny spells after it breaks up and a bit more cloud for scotland and northern ireland but after lunchtime you will notice there will be heavy showers developing across wales and the south—west of england. these will be heavy and slow moving so for some, not all there could be some torrential rain and elsewhere it

will be sunny and warm with temperatures up to 22 degrees and temperatures up to 22 degrees and temperatures in the low 20s across the north. by the end of the week high—pressure holding on with this rich here but we have more showers cropping up through friday and they will be hit and miss for many. temperatures rising into the weekend with dry and fine weather and some places in the south getting into the 30s. hello, it's it's nine o'clock, i'm victoria derbyshire, welcome to the programme. happy world cup wednesday. music: " three lions." 0ur country's been through some difficult moments recently in terms of its unity and i think sport has the power to do that and football in particular has the power to do that.

so for us, we can feel the energy and we can feel the support for home and it's a very special feeling, it's a privilege for us. the england team is bracing itself, the english nation is bracing itself. england prepare to play croatia for a place in the final