asian markets fall and imposes duties on imports from canada, mexico and china. india delivers $12 billion in tax cuts for its struggling middle class, as the government tries to shore up the world's third—largest economy. hello, and welcome to business today. to our top story this monday: markets in asia are in the red, after us president donald trump pushed ahead with his tariff imposing a 25% duty on from mexico and canada. a lower tax of 10%. he also implemented an additional 10% tariff

meanwhile, china has said it will implement "corresponding countermeasures", and plans to file a lawsuit with the world trade organization. peter mcguire from trading.com laid out what the possible of it and -m| of it and the countermove be — a the countermove will be — a tit—for—tat — mexico looking at introducing substantial introducingsubstantial tariffs us goods, introducingsuastantial; tariffs us goods, the same for on us goods, and the same for canada. how i think, canada. how this, i think, to the first and — where does that then — where does that trade—off really by trade—off really materialise by end �* month in �* nations the battle; the battle? it's 7 w ” ragtime; it's going? be very for 1951.3; evéegry fascinating for on 194.3; evéegry fascinating for on the markets. volatility on the markets. it is — canada has already said go 25%

they'll go 25% like—for—like those tariffs. china seem with those tariffs. china seem more reserved?— more reserved? 1096 at the moment — more reserved? 1096 at the moment - _ more reserved? 1096 at the moment - remember, - more reserved? 1096 at the i moment - remember, they've more reserved? 1096 at the - moment - remember, they've been -=:: a break for 7 a break for a 7 a wbrewawkaorwaweewkw w w ' waifiéfkiéfqwge'kfsné w w ' a breakfor a week, anthhey on a breakfor a week, and they come back to market, i think, tomorrow. it's going be come back to market, i think, tomorrow. how oing be come back to market, i think, tomorrow. how oing portray t —-wme thiskwhether there'll be from china, if countermoves from china, if they'll be aggressive, or if they'll be aggressive, or if they overstep the mark and say — �* you us 25%, they overstep the mark and say — �*you us 25%, we'll — if you give us 25%, we'll countermove. so we're sitting waitin, am here, waiting, digesting, and appreciating what's going on. and companies like investors and companies like is there detail staritys is that; snebgfia�*stait" ” ”"' been rolled staritys is that; snebgfia�*stait" w ww ' been rolled out from the that's been rolled out from the us as to which exact goods are to w to be w to be awnd ww w t}; be w ' wwwjajlqqw going to be affected'and how all going to be rolled it's all going to be rolled out? �* , ., . it's all going to be rolled out? �*, ., .. ., ,., it's all going to be rolled out? �*, ., ., ., out? it's not a clear vision at the moment. _ out? it's not a clear vision at the moment. - is - out? it's not a clear vision at the moment. - is the - out? it's not a clear vision at. the moment. - is the issue - the moment. this is the issue — how this is going to be, i think, interpreted by the over the next 48 hours. market over the next 48 hours. sectors are back at 10%, some sectors are back at 10%, as you mentioned, for energy. are going to be and some are going to be —e: it's juswt w = n: it's juswt — vw/ait it's j'uswt — wait and exempt. it's just — wait and see the sand

— -7 midweek. then we'll get a lies midweek. then we'll get a clearer but at etearaf after: eat'attbe you've got to say that moment, you've got to say that it's had an impact to the markets. energy prices are well market; energy arises are well you've seen the us dollar up. you've seen the us dollar continue to strengthen e -w2 significantly this morning. as ou significantly this morning. as you mentioned, us significantly this morning. as you mgntioned. us has also you mentioned, the us has also a reduced duty of 10% imposed a reduced duty of 10% on canadian oil imports. the increased will likely increased cost will likely translate to surging at i think this is an interesting dynamic at play. to find out what is the plan c or the plan d. trump has a plan b. while the flows from the north from canada and the south

at the pump? absolutely. not the summer big demand — and when the summer to attract the balance from europe and also — that the us is sending a lot of products to mexico, to tackle the prices. so, it is quite complex and i believe if it lasts short term, i think the supply chains will try to adjust.

tax breaks for india's struggling middle class annual budget presentation on saturday. priorities for the year ahead. the bbc�*s arunoday mukharj'i has more on what this means india's middle class, , more money in their pockets thanks to the tax breaks have to pay any tax. that is an increase of the earlier threshold ofaround $8,000. tax slabs as well. breaks should help. like roads, highways and ports, that seems to be on track

in boosting employment. in a country like india, whatever you may do, it may seem as inadequate given the size of the population these skilling programmes and the overall larger internship programmes that were announced last year, they are taking shape as we speak right now, so maybe one year down the line we will be looking to boost output, low—productivity areas will be to over $5500.

but experts also say given the global headwinds presidency, that means the economic uncertainties in the short to long term for india will remain. and the us government. to influence us president donald trump, he does not. he only sees bromance lasting a year. lasting around a year. it cuts both ways. i mean, he's on the tesla lines not on the tesla assembly lines fixing the would fixing things the way he would have two years ago. in my ii have been two years ago. in my , , i show exactly how he has book, i show exactly how he has an algorithm so that he can manufacture a electric

manufacture a million electric vehicles when general motors do none. so can do basically none. and so you pull him away from that. on the �* hand, by being in the the other hand, by being in the — whether it's administration — whether it's the national highway safety the national highway safety the other regulatory board or the other regulatory he gets to barrel agencies — he gets to barrel forward. i think people are valuing the company partly as a tech stock, which is what it is tee“; “a”! eagle�*s“; is. he“ it is. it's tee“; “a”! h'“ is. he“ it is. it's going to �*e'h "mk h'“ 's. hat t a it's going to be a �*s'i�* “mk h'i�* s i�*s�* it is it's going to be a stock — it's going to be a stock that involves ai, robotics and self—driving cars. involves ai, robotics and self-driving cars.- involves ai, robotics and self-driving cars. man itibfiw wwwwtwi'iwe aria. world www w manwtwhe world avoid big conflicts i interest such big conflicts of interest from his empire from his business empire to heading up doge and being head'no on done and bemgm ., icutting government charge of cutting government spending? charge of cutting government sendin: ? ., charge of cutting government spending?— spending? no, i don't think that, if you _ spending? no, i don't think that, if you had _ spending? no, i don't think that, if you had to - spending? no, i don't think that, if you had to i the l that, if you had to list the traits that elon musk has, accepting limits would not be in the top he's going pumaézzegegeiyyfa push limits. he's going to ts sesn limit: li“ asina ts limits. and, i ts sesn limit: li“ asina ts going ts. and, 135 . , ts sesn limit: li“ asina ts going to and, 135 . , ts sesn limit: li“ asina ts going to cause i; . , ts sesn limit: li“ asina ts going to cause somesfijsfi. . , it's going to cause some problems. it's also going problems. but it's also going to get certain things done. we

problems. but it's also going to get certé have ngs done. we problems. but it's also going to get certé have been me. we problems. but it's also going to get certé have been a e. we problems. but it's also going to get certé have been a nation of sometimes have been a nation of risk—takers, we became risk—takers, and we became nations with more referees than risk—takers, more guardrail risk-takers, more guardrail than grisk-takers, more guardrail than risk—takers. and builders than skf�*akss 4nd it'll builders than skf�*akss and it'll be builders than s'v�*akes and it'll be interesting — i snake. u- as...” — whew|llgofar ' whew|llgofarhe w think he will go too far, he thinks will go too far, thinks he will go too far, because he always says, if you haven't gone far and have haven't gone too far and have to scale back, you haven't tried hard enough. it's going to reverse this notion of — we a ww wathowlew w w ww wathowlerotwwww w w wwanifwhowlewwlotwofwwwww w ww w athole wlotwon guardrails w w conflict w conflict rails. w and conflict rails. and elon musk and _ and conflict rails. and elon musk and donald - and conflict rails. and elon musk and donald trump i and conflict rails. and elon musk and donald trump - | and conflict rails. and elon - musk and donald trump - they're musk and donald trump — they're such do you such big personalities. do you see this relationship enduring? ...d.° ... u �*do see a do seeafallout qtdeyou see a falleut delun line? what kind predeyou see a falleut delun line? what kind of qtdeyou see a falleut delun line? what kind of issues the line? what kind of issues do you think they may clash over or traits that over or personality traits that lead to that? we may lead to that? well, we see alread may lead to that? well, we see _ already pushes - may lead to that? well, we see and dread ushes 'ww:ww w may lead to that? well, we see and dread has ihes 'ww:ww w may lead to that? well, we see and dread has never 'ww:ww w limits, and moshhas never in 30 that he eressns in se searss'that hs'f' '* work ereesns in se 1;f>.:-:arss'l:i’.rat hs'f' '* work for ereesns in se 1iff-arrl'i’rat hs'f' '* work for somebody. so, ereesns in se yearss'that hs'f' '* work for somebody. so, musk —— ww not going not going to w not going toj'ust w not going to just be w not going to just be a is not going to just be a puppet for donald trump. and donald trump has never shown a

w w to ww w w to share w w to share the real willingness to share the limelight. so is not limelight. so this is not exactly the.. stable of exactly the most stable of molecules. but i guess if i wct, it's www predict, it's w tow predict, it's w tolast about,it�*s w tolast aboutait�*s w to last about a year, w to last about a year, w they .t about a year, w they both for about a year, cos they both kind of bonded in this kind ofhave'bonded in this way — and they both need strong way — and they both need each because trump eachother because trump does as we've seen — really does — as we've seen — for �* or to for better or worse, want to blow up much ithe blow up much of the state in trump united states. president trump is - shaking _ united states. president trump is - shaking un _ united states. president trump is - shaking up the - is already shaking up the trading world with the trading werld—with the ., " r of tariffs for introduction of tariffs for mexico, canada and china set to take effect on tuesday. we have a live page up and running with a live page'up'and'running with of analysis of lots of detailed analysis of what it could mean going forward for all the countries and for consumers as wwwwwrhawnléwww wwww ww wwwwwrhawnléiéi 956? www ww ww ww nan; foiw’ agrarian on anks for your company on business our company wwwwwwownwbquwineswswtoday.w1wpwany here on business today. we'll see again soon.

i'm lizzie greenwood—hughes. here's what's coming up on the show: by thrashing manchester city. and — the flying dutchman does it again — mathieu van der poel hello, and welcome to the programme.