premier li keqiang had to say about this and other issues as he opened the world economic forum in tianjin and on the markets: some relief in the global markets that the latest round of us tariffs against china is less damaging than initially feared. some tech products are excluded and the staged introduction has left the door open to a deal, with presidents trump and xi expected to meet at the 620 in november. let's take a closer look at what the us stands to gain and lose: there's a revenue benefit. the treasury department says there has been a $5.1; billionjump in customs and duties collected so far this fiscal year. but some of that is simply due to more goods entering the us. a 10% tariff on $200 billion of chinese imports should theoretically raise $20 billion forfederal coffers but the risk is that the flow of goods will slow. 0n the downside, there'll be inflationary pressures though consumers will only feel the full impact injanuary — well after november's mid—term elections — when the price of chinese imports is due to rise 25%. there are other costs for the trump administration.

charisma of al shahrani in tianjin. —— karishma vaswani in tianjin.f the other stories making the news. a british cave diver is suing tech billionaire elon musk for defamation after his repeated claims that the diver is a child abuser. vernon unsworth helped rescue i2 thai teenagers and their football coach from a flooded cave in thailand in july. mr musk has made several accusations against mr unsworth without evidence, including that he was a "child rapist". 0ne us firm likely to suffer the consequences of a drawn out trade war is fedex. it's reported quarterly profit which missed wall street estimates, mainly due to employee compensation and other expenses. its shares fell over 3% in after—hours trade. the firm is considered one of the bellwethers for the us. economy. formula one has agreed a $100 million sponsorship deal with a number of betting companies. fi's owner liberty media has signed a contract with inter—regional sports group for global rights to gambling sponsorships in the sport. the deal comes at a time of growing concern about the inf

we have the latest from the world economic forum in tianjin. and on the markets, asian shares are rising after a second day of gains for global stocks as investor concern eases over the impact of the us—china trade war. we start with brexit. as you've been hearing, uk prime minister theresa may is at a summit in salzburg austria — trying to sell her plan for britain's future relationship with the eu when it leaves in six months time. many employers are becoming increasingly worried about their ability to recruit the right staff, once britain is no longer part of the eu's freedom of movement rules. 139,000 eu citizens left the uk last year in the wake of the brexit vote, the highest number in a decade. that has left employers in some sectors, especially hospitality, health and agriculture struggling to recruit staff. at the lower skilled end of the market, the number of people applying for each vacancy has fallen from 2a to 20 over the past year, according to a recent survey. companies are having to raise wages to attract workers. the uk governm

levies comes as thousands of leaders from around the world are in in the eastern chinese city of tianjinas the summer davos. trade tensions are overshadowing the global economy. the imf warned that 0.5% oraround global economy. the imf warned that 0.5% or around $430 billion could be wiped off the global economy as a result of the trade war started by america but that was before president trump announced tariffs on another $200 billion worth of imports on the mainland. karishma, this is indeed a difficult time for us- this is indeed a difficult time for us— china trade relations. absolutely, and that is certainly the big topic of the day for many of the big topic of the day for many of the people who are attending the world economic forum here in tianjin. the announcement came about 1.5 hours ago and is kim pointed out, this is a serious escalation in the trade relationship between the us and china. 40% of chinese goods, all chinese goods sold to the united states, and if beijing retaliates, the us has said there is another $267 billion that it could place a tariff on. so what is china's

let's get more on this story. 0ur asia business correspondent karishma vaswani is in tianjin and joinsishma, what has the chinese reaction been like? it's what everybody is talking about here today. this forum was supposed to be the discussion about the economic growth engines for china's future and the trade tariffs. i've been speaking to a lot of people out here. the mood is pretty sombre. china's economy can deflect the impact of the tariffs. there is a lot of domestic demand. the economy is something that has been growing relatively well, even though it's been slowing down and i think, the issue that is at the heart of this trade war, claims china has been stealing intellectual property. that is something that business people and academics have said, they com pletely and academics have said, they completely dismissed. but have a listen to what negotiations going forward could mean for china, according to jiang shixue. forward could mean for china, according to jiang shixue. the us always says, there is not $1 for $1 but china is not stupid enoughjust to suffer this kind of unfair p

tianjin needed to win by a three—goal margin in order to stay in the competition but the antlers weren'te lead on the night. serginho with the header from the yasushi endo's corner. hiroaki abe added a second before the break and substitute shoma doi completed it in the 66th minute as kashima now face either suwon bluewings orjeonbuk motors, both of south korea, in october. england cricketers ben stokes and alex hales have been charged with bringing the game into disrepute, in connection with an incident outside a nightclub last year. stokes was cleared of affray after a trial in august. the all—rounder didn't travel to australia for the ashes tour either side of christmas and now along with team—mate alex hales, who faced no criminal charges, but was with stokes at the time, will face a disciplinary hearing in december. the england captainjoe root, speaking before those charges were brought against stokes and hales, has offered his support to moeen ali. cricket australia are still investigating the claim, in the all—rounder‘s autobiography, that he was subjected to a racial slur during

so, let's get the latest from the world economic forum in tianjin.swani is there for us. the war of words now hotting up as well as the war on tariffs. absolutely. i was sitting in on that speech the chinese premier gave about a couple of hours ago now. i have to say, i think the main message he was trying to relate to the international audience gathered in the room was that china understands its role as a global player has to be a responsible one was that he'll sit talked about the fa ct was that he'll sit talked about the fact that foreign firms can he said, would receive the same treatment as chinese countries in the country. that underlines the main message china has been trying to put out with regards to its position on the trade walk, that it is a country that wants to discuss, negotiate and a lwa ys that wants to discuss, negotiate and always puts itself in the position ofa always puts itself in the position of a victim in the trade war and is only retaliating to donald trump is matt harrison has not started it. critics would point out that so

mr ma was speaking at the world economic forum in tianjin on a panel on entrepreneurship.about the impact of the us—china trade war and said when he was speaking to chinese entrepreneurs or people who wanted to go into business, that they needed to plan for this for the next 20 years. he also spoke about the clash of these two countries. i thought it was very interesting when he said that china prioritises harmony, while the west prioritises competition. he said that for these two cultures to understand one another, they need more dialogue. i think that‘s advice that many would like the us and china to heed as we head into what looks like a protracted trade war. looking at the asian markets in general, a fairly flat session to be honest, but again a positive end with games on wednesday. investors continued to look on the bright side, perhaps an optimistic view that a deal could be done between the us and china in the future when it comes to trade. looking at europe, some specific stories, moving markets, french connection with poor sales, down 7%, so shares in london down

we will be live to what is known as the summer davos, in tianjin, where we will hear what xi had to sayntially dangerous weather on the way over the next 2a hours. the met office has issued an amber be prepared warning for the strength of the wind across northern ireland and central and southern parts of scotland, and it is down to this deep area of low pressure. a lot of isobars on the chart. this is a storm ali pushing its way across north—western parts of the uk. as well as the winds we have some very heavy rain across northern ireland, south—west scotland, towards the central belt for your morning rush hour, and this is the area where we are most concerned about the strength of the wind. because wind gusts are likely to get up to 60, 70, maybe 75 mph. perhaps even a touch stronger than that for a time in the most exposed spots. coupled with strong winds with that heavy rain, this is a recipe for travel disruption. perhaps a little bit of damage as well. remember the trees are mostly in full leaf, and further south, parts of north—west wales could see gusts close to 70 mph, a0 to 50

we have the latest from the world economic forum in tianjin.d to have you with us. it isa it is a packed programme. briefing you on all you need to know in global news, business and sport. also in the programme, we are asking what is your worst blunder at work? do share your stories, this as cathay pacific had to send a new plane back to the paint shop, after the compa ny‘s name was spelled incorrectly. iam sure i am sure you can tell what is missing. tell us where you went wrong or where mistakes have been made. just use the hashtag #bbcthebriefing. we begin in salzburg, that's where the british prime minister theresa may has been urging european union leaders to be ready to compromise on brexit. speaking after a summit dinner, she said the uk had given ground and now the other member states should too. the sticking points: what to do about the irish border and a post—brexit trade relationship. and time is running out, as russell trott reports. what better way of setting the tone ata dinner of what better way of setting the tone at a dinner of

karishma vaswani is our asia business correspondent and she's at the world economic forum in tianjin,alk about here, but tell us a lot to talk about here, but tell us first what the reaction is there where you are. well, a lot of people that i have been speaking to hear at the forum, which is often called the summer the forum, which is often called the summer davos, obviously there is a great deal of concern about what is being seen as the most serious escalation of the trade tensions between the united states and china. we are looking at something like almost half of everything that china sells to the united states being put under a tariff starting monday, september 2a, and then from january one, 2019 that tariff will go up from 10% to 25%. china has hit back, even though it says that it is a choice that it had to make the retaliate, putting it $60 billion worth of american goods under tariff as well. and i think it is really important to remember that all of this is something that china consistently says, that it has been put in this position by the us and by president trump, and th

we'll get reaction live from tianjin in china.

karishma vaswani joins us from tianjin in china. if you are at the tory initiative either chinese, ita third competitor of the american. what does this mean now all the mainland people? —— if you have a look at the retaliatory. it is important to point out that china doesn't have much more in the way it to retaliate because itjust doesn't buy that many product is, or that value of product, from the united states. that is at the heart of this trade disagreement, if you will, between the us and china. the us keeps saying that china sells far too much stuff to the united states and the other way it around it is not a fairer or level playing field. and us wants the chinese market to be more open to american companies. having said that, i think china is really under pressure and has been recently, to defend its position on the international stage. later today in about two hours time we will be hearing from the chinese premier, who will be addressing the delegates at the world economic forum here and it will be interesting to see what he has to say about this trade war that has really taken

briefing, we'll be live to china for reaction to trump's new tarrifs as business leaders gather in tianjint's called the summer davos. also we assess the ambitions of samsung and south korea's other big business leaders as they accompany president moon to north korea. a warm welcome to the programme — briefing you on all you need to know in global news, business and sport. the emmy winners are now enjoying the after party at what is being described as a "golden age" for television — globally many of us are spoilt for choice with so much good quality programming. so we want to know are you watching tv more? are you hooked on a series? let us know — just use the hashtag #bbcthebriefing. another round in the global trade war. the united states has announced it'll slap fresh tariffs on two hundred billion dollars—worth of chinese imports. they're due to come into effect later this month at a rate of 10%, rising to 25% if beijing retaliates. it's biggest round of trade tariffs yet imposed by washington on beijing. i'll be discussing the implications of this in just a few moments. first, here's

briefing, we'll be live to china for reaction to trump's new tarrifs as business leaders gather in tianjin

li kee—chiang was speaking at the world economic forum in tianjin, after china confirmed that it wouldstake. translation: it is indeed necessary to co—operate fairly and maintain the press is printable rules of multilateralism and free trade. because no matter how much these rules need to improve, but they offer us is inclusivity. it is progress for human civilization. if there are problems, we should resolve them through negotiation. the unilateral action does not stand a chance in resolving problems. that's led to some swift reaction in the us, especially in states targetted by the chinese tariffs. here's congressman todd rokita from indiana. i'm very appreciative and proud that we have an administration, a president that is willing to stand up to cheaters and stealers. that's not right to teach our children, and we shouldn't account for itjust to make a quick and easy buck. they're known as "pot stocks", namely shares in companies producing legal marijuana. they've been soaring in the us today, powered by an astonishing rise in the share price of a canadian producer called tilray. t