there is an update on �* on how eu china as well.rding tariffs will happen according to trump and he has called the out of line 7 sham; hut" out of line but a 7 5.35} [if]; $5341" 77 7 5&5} [if]; $5341}; 7 eu out of line but a deal can be worked out. thank you forjoining me on business bye for now. hello and welcome to sportsday. by thrashing manchester city. wins a seventh world cyclocross title. hello and welcome to the programme. we're starting with football, and a fascinating day in the premier league including at arsenal where they stunned 5—1 to close in on leaders liverpool.

mexico, china and the eu? these are the questions that are being searched online tens of the us and americas programme at chatham house. lovely to have you both with us. i'm going to start with dharshini david, and some questions. 7 questions. to of the us and americas programme at chatham house. lovely to have you both with us. i'm going to start with you, dharshini david, and some basic questions. to my question is, how do terrace work and do terrace work? fix, is, how do terrace work and do terrace work?— is, how do terrace work and do terrace work? a really good one to start with. _ terrace work? a really good one to start with. tariffs _ terrace work? a really good one to start with. tariffs are - to start with. tariffs are basically those taxes on imports. they are paid for by the firm or the person we import the goods into the country. why are they there? they are meant to protect home—grown businesses from overseas competition, but what they also do is make things more expensive, if they are passed on i

, mean that eu; china; other as well, will mean that eu, china, other as well, will start countries asartner when it comes to trade? a a, , reliable partner when it comes totrade? , a, , a, to trade? 5725223, one thin that can drive the one thing that can drive people to often — people to distraction often — can very and americans can be very blunt and that can be a thing. you americans can be very blunt and that can be a coming, 1. you americans can be very blunt and that can be a coming, forou americans can be very blunt and that can i: there oming, for ou americans can be very blunt and that can i: there or really or ou example, there is really no—one surprised that tariffs were due the situation imposed due to the aiteatien respect to with respect to fentanyl. no—one is surprised. the united = -= has telegraphed this states has telegraphed this ” very well in advance, very clearly, very directly, and the united states also engages constructively with its constractively with its we have cohatro�*ctivety with its we have seen partners. we have seen happen very negotiations happen ver

the murky is hopeful there will be more stability for china, possibly the eu. -- stability for china,t murky. for the near term, the eu. —— beat murky. for the nearterm, i the eu. —— beat murky. for the near term, i take that as a mild positive. we need to get more certainty down the road for markets to stabilise. for china, the _ for markets to stabilise. for china, the 10x _ for markets to stabilise. for china, the 10% additional levies, those were a lot smaller than what president trump had been saying on the campaign trail. do you think investors in china are nervous, or is the murky not taking the threat on tariffs so seriously after what we have seen play out in mexico and canada with the polls? it out in mexico and canada with the polls?— the polls? it is a great point. the initial — the polls? it is a great point. the initial talks _ the polls? it is a great point. the initial talks were - the polls? it is a great point. the initial talks were for - the polls? it is a great point. the initial talks were for 6596 the initial talks were for 65% tariffs on china, all of the top b

we checked china, the eu, canada and mexico can slap and have 20-25% tariffs on the us goods like cars't do that. i don't know if canada would give up its currency but your points well taken about being a juggernaut. what does president trump want in return for these tariffs because democrats keep saying this is going to ignite inflation. >> let me assure you 11 out of 10 canadians would rather trade their trudeau p pasos. they want an economic union because it's good for business. everybody understands that. the two countries are so intertwined and they both believe in democracy and free speech and freedom and all the rest. they fought in all the world wars. it's the beginning of a negotiation. liz: but wait. what can president trump get for the americans consumer and the american voter in return for these tariffs? what can the american voter get? >> complete independence and security on energy. alberta has five times more oil & gas than the entire united states. complete security on uranium, aluminum, all of the incredible resources canada has with only 41 million people there, and a

given the rows with china, the eu, canada, mexico, he's in, out, like a hokey cokey of tariffs, leading some people to suspect that a lot of this is performative. and has mexico simply caved in to donald trump's pressure? i think it will be spun i in the mexican example as a victory for- claudia sheinbaum. she didn't simply bend to his will. i to a whirlwind start. whether it's threatening to take over gaza or greenland occupying gaza would mean "cleaning out" — like 2.5 million, and he won't rule out the use of american troops to do it. or is he just saying all this to keep his friend and supporter benjamin netanyahu in power in israel? the top of his head. i asked the bbc�*s north america editor, sarah smith, first days back in office. that have been made both at home and abroad, and just taking him seriously, as he told us again and again that this was exactly what he was planning. affairs by picking fights with people? yeah, this sets the tone for how it's going to happen. nation in the world. what does he want that he thinks will make america and america alone better off? that he t

stay us here on bbc mexico, china and the eu?vely to have you both with us. i'm going to start with dharshini david, and some questions. 7 questions. to

eu. with china, i don't even want to tell you what biden has allowed to happen with china. they are eating our lunch. and something has to happen. it's not sustainable. and i'm changing it. but, when i talked about canada, they gave us tremendous security. it started out with security. then it started getting economic. it's really both. >> bret: you know the prime minister said this weekend or a group of canadian businessman, he was private meeting. he said that your wish for canada to be the 51st state is a, quote: real thing. is it a real thing? >> yeah. it is. i think canada would be much better off being a 51st state. we lose $200 billion a year with canada. and i'm not going to let that happen. it's too much. why would we do that? i asked trudeau that question. i said why would anybody want to lose $200 billion? why why, as president, say i'm going to give you 200 billion a year? canada, you are a different country. and i love canada. i have so many friends in canada. you can't count them. wane cigarettes is i, i love wane gretzky. i love some people. i love their trad

the eu and china are facing a lot of trade battles right now over electric vehicles and with solar panels. so china could, perhaps at least when it comes to the united states, try to leverage its supply chain because china in many regards is seen as the world's factory, so much that the u.s. uses is produced here in china. we're talking about clothing, electronics, furniture. it's a very long list. perhaps china could do something to to make the u.s. feel the pinch when it comes to controlling what kind of products are exported. but at the same time, china. this is not a big surprise. we knew these trump tariffs were coming. it's something that was talked about on the campaign trail. and china has been planning ahead expanding its trade relationships with places such as latin america with africa, even russia, kind of as a preemptive move. you mentioned off the top that the leaders of mexico and canada, the leadership from those two nations, will be talking to president trump today. i think it is safe to say max and cristina will come out of those conversations are going to be a prime inte

given the rows with china, the eu, canada, mexico, is the us leading the world into a wider trade war? people to suspect that a lot of this is performative. and has mexico simply caved in to donald trump's pressure? i think it will be spun i in the mexican example as a victory for- claudia sheinbaum. she didn't simply bend to his will. i donald trump's second presidency has got off to a whirlwind start. whether it's threatening to take over gaza or greenland or the panama canal or imposing tariffs on a range of countries, he doesn't seem to feel anything can stop him. occupying gaza would mean "cleaning out" — his words — the palestinian population of something like 2.5 million, and he won't rule out the use of american troops to do it. or is he just saying all this to keep his friend and supporter benjamin netanyahu in power in israel? as always with mr trump, it's hard to tell the difference between clearly thought out proposals and talking off the top of his head. i asked the bbc�*s north america editor, sarah smith, for her thoughts about the trump administration's first days back

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china. i mean, he sees the eu as an enemy almost, and has threatened tariffs but not gone into specifics.nk that the reciprocal tariffs that he's markets in asia have been reacting to the latest trade escalation by president trump — shares of steel makers are among those under pressure. suranjana tewari is following all this from the bbc�*s singapore bureau. many producers of those metals are in the region — of steel to the us. in total, the us imports more than $100 billion of steel and some well—known companies saw their shares down in trade today — posco shares were down more than 3.5% at one point. to have recovered slightly. was in the us last week to try and iron out the nippon steel rather than a takeover. is a big—bang policy that will then be scaled down. is that markets are likely to be on edge and volatile for a two—day summit on artificial intelligence. macron promised more than 100 billion euros in al investment to help keep pace with the half translation: france is going to go faster. l on the $500 billion for stargate. life paris where we can see the beginnings the ai the b

the us trade war will not be confined to china, mexico and canada alone. in brussels, eueaders met nato chief mark rutte since donald trump's inauguration, 0ur political editor chris mason has been the headquarters of the european union. their trade with america uppermost in mind too. or trade wars. the anger you heard there was prompted by president trump describing the eu as an atrocity and saying it would face taxes on its imports into america. they don't take our cars, baskinfirussels it can give economies the shivers. of rolling up in brussels these days after brexit, on the uk that dominated. is open and strong trading relations, with president trump. to water down your reset with the european union both of these relations are very important to us. for many, many decades now. and tonight the prime minister swapped nato when it comes to trade and security. i'll be discussing this evening on questions on energy and i believe it is in the eu's interest as well. but how much of this is possible, desirable, while maintaining a decent relationship with america? this is bbc

china. i mean, he sees the eu as an enemy almost, and has threatened tariffs but not gone into specifics.g so long for only imposes 2.5%. for a two day summit on artificial intelligence. for a t pictures jmmit for a t pictures are 1it for a t pictures are live from the grand palais. you just saw vice president 7 7 7 �* the at the speaking to journalists on sunday — france's president administration. earlier i spoke to sana zakaria from the policy think tank competing nations. in particular is quite a complex space. ahead of the game in terms of the data centres development at the moment, are a true sort of innovative regulatory mechanism here that's being trialled. there's a bill in the mix. there's a lot of investment going all around into ai. lots more to from paris throughout day on bbc news that is it from me. back to samantha. chancellor 0laf scholz accused his conservative of breaking a post—war taboo by accepting parliamentary immigration is one of the key issues which could alternative for deutschland's relative dominance on tiktok. selena wants tougher immigration rules, military

tariffs on eu goods after imposing punishing levies on canada, mexico and china. welcome to business today. i'm ben thompson. it's a new trading week on global financial markets the us dollar has strengthened while the canadian dollar hit its lowest level since 2003. tariffs against the uk. in his cross—hairs. but it will definitely happen with the european union, advantage of us, and, you know, we have over a $300 billion deficit. is really out of line, the uk is out of line let's take a quick look at the global market reaction. joining me now from sydney is tim waterer, who's president speaking there. president from speaking there. says has the power to imestars , nermus. make investors verynervpus. is meke investors very'nervcxus. is the meke investors very'nervoos. is the of the —== i think. specifically, day, ithink. specifically, traders are wondering now, those latest tariffs, will it those latest tariffs. will. it an own goal for the those latest tariffs. will. it an own goalfor the us? will be an own goalfor the us? will it be wounds and growth? how many

partners such as asean, the eu and as the world largest and russia as the world largest trading nation chinas one of the most important trading partners but it is importance is out it ia importanoe 53 333” in out it i3 importanoe 53 . in 2018 it declining. in 2018 it for 18% �*china's accounted for 18% of china�*s but now it is only 11%. trade but now it is only 11%. tom's 10% tariff means tom's 10% tariff increase means 15 billion us dollars and this will not affect the total trading value. in chinese trading value. in short i think china has enough ww w in dealing w " ’ in dealing with euperie�*no l. ., the resilien ., ., the resilien that talk about the resiliency that in dealing with these china has in dealing with these and the in tariffs and the us and trump in what about canada? particular. what about canada? how is the canadian how resilient is the canadian to the us which is its economy to the us which is its much larger neighbour? cine economy to the us which is its much larger neighbour? challenges is that we are resilient in the less resilient in the sense our supply chains are v

dead from fentanyl under joe bind and felt president trump is talking tariffs on eu and trump effect taking hold, canada, china, mexico, panama, columbia giving in and yielding to trump and talking trade, securing the boarder and de-portanova tees and more. alina habba, show us the tweet from justin trudeau. give us more details on the deal with canada right now. >> that outlines it perfectly, there's a 30-day pause and that's very similar to mexico and kansas c capitulating with g leadership saying you're not dumping fentanyl and criminals and all kinds of illegal activity into our country. you're not going to profit, america needs to profit and be put first to bring down taxes and we can protect our boarders. that's what we saw here. as you know, just tin trudeau said he'd be -- justin trudeau said he'd be retaliating and strongest president and negotiator i know is president trump. liz: it's striking that the far left and u.s. media is fear mongering about trudeau and mexico threatening retaliatory tariffs and what do you make of the coverage here? the fact we have brought down the border crossings in two w

china. president trump had landed in washington, describing the eu as an "atrocity" and saying it would face of food and farm products. _ the uk is out oiline e but the european union is - an atrocity, what they've done. we're getting along very well. china, mexico and canada having them imposed so far. booing in toronto as the american national anthem plays. back in brussels, a city of flags and international politics, you might ask why all of this matters nato defence alliance is based here as well. early days, and i think what's really important is opening a strong trading relation. that's been the basis of my discussions president trump on side? historically been the position of the uk for many, many decades now. city centre for dinner with the european union's leaders, as they, and he, wrestle with how to confront chris mason reporting. chri a diason reporting. chri a line»n reporting. chri a line here norting. chri a line here that|g. phone call between trump and call between donald trump and justin is under so justin trudeau is under way so 1 continue to watch 7 �* there is 7 �*there

but it won't just be by day, it will also be by night. tariffs on eu goods after imposing punishing levies on canada, mexico and chinad while the canadian dollar hit its lowest level since 2003. tariffs against the uk. in his cross—hairs.

but if tariffs would be answered by counter-tariffs, be it china, be it eu, us, this is not positive.nd of course we would need to factor that in into our guidance. >> anita. infineon shares are sitting firmly at the top of the market this morning, up more than 10%. what color can you give us around what infineon had to say about demand for its chips? >> well, actually. >> they are surprisingly. >> strong when it. >> comes to their. >> outlook. >> and compared. >> to competitors. >> so, for example. stmicro is expecting. a fall in revenues and they are now saying they're. upping their guidance. >> infineon for the full. >> year 2025, they're saying a flatlining of revenues. and this is this. despite a still challenging market environment and despite the fact that clients are still destocking their warehouses. so that beat in the first quarter of 2025 was mainly on currency effects. one has to say. so they are benefiting from the strong dollar because the bulk of their revenues is denominated in dollars. and before they didn't expect the dollar to be so strong as it is now and probably

to trading with the us, and that tariffs might be imposed. the eu of not buying anything from the us. on goods from canada, mexico and chinand showed no signs of let—up, saying the uk would you consider taxing well, we're going it will happen. what they've done. well, prime minister starmer�*s been very nice. we're getting along very well. prime minister starmer will be pleased to hear that bit. while hosting the german chancellor at chequers, in the discussions that i've had with president trump, so it's very early days. mr trump has come good on his threat, so far — people to buy canadian. far—reaching and include everyday items such as american beer, wine and bourbon. mexico also has been hit with tariffs of 25%, with oil at the lower rate of io%. stop illegal immigration and the flow of drugs america imports. economic dominance to try and achieve his goals. the issue of tariffs is likely to be discussed in brussels today. chancellor olaf scholz with sir keir saying he wants neighbours, but britain will not be rejoining the eu. it's the first time since brexit that a british prime minister will attend a european council

and you alliances forming, stronger ones, between the eu and canada and we between canada and china.ble ii no longer a reliable partner. i have to it is a haeg'tggay'it' is a, "nigh: _ that will likelihood that this will backfire of different reasons. in your last exchange _ different reasons. in your last exchange with you exchange with julie, you mentioned exchange withjulie, you mentioned that part of the goal ww to raise wwww— www-w w w wwwwwmww wé that's part of the - that's part of the goal. i trump talks about an external i trump talks about an external to i trump talks about an external - to try— i trump talks about an external - to try to _ i trump talks about an external to try to bring money revenues to tr to brin- mone 7, so he revenues to tr to brin mone so he doesn't revenues to try to bring moneil so he doesn't have to raise and so he doesn't have to raise the - debt, _ and so he doesn't have to raise the debt, but the the national debt, but the is the national debt, but the - is those - the national debt, but the is those tariffs. oin- to ww— th_t consumers, his own b

china. he's threatened the eu, he's threatened panama, he said. the uk possibly. and on it goes. >> yeah.d someone who represents the distilled spirits industry on. they were talking about how bad they're going to get hit. but the auto industry seems to be particularly fragile in this moment. what's going on? >> right. imagine you're canada. and imagine i'm the united states, and i'm a car that's being made now as the because of both decades of the north american free trade agreement and usmca. now, these cars between detroit and windsor and right the way along here, they go backwards and forwards and they go backwards and forwards. it's estimated roughly eight times the different parts. exactly, exactly. you are talking about the ultimate, the absolute epitome of integrated. >> it's going to be hit every time. >> of course, if you're going to start hitting, you know, it might be the lights from it might be the lights from the u.s., it might be the ignition from canada, it might be the combustion xyz, it might be the thrust reverse titillator from your side. i don't know what it is. all i

or for the eu and said that would actually benefit china. >> tonight, thank you so much for that live report from dc. >> and the east bay knows how to party. we're going to take a look at the night market that featured more 50 local vendors, popular vote chain opening up a new location in the bay area. >> oakland celebrating the lunar new year in style is on saturday that the neo lunar new year celebrated the past president future of the lunar new year. more than 200 people came out to this event. it featured local artists, food and lots to drink and even had a live painting experience. drag shows fashion shows and local artists giving out tech some other exciting news for the east bay is that she sanchez opening up at second bay area location. the famous boba shop will soon be located in berkeley about 15 minutes away from the uc campus. it will open up some time mid-february. the store is well known after winning an international award. that is pretty much the equivalent mitch lynd star for boba. >> still ahead here, too, there's been another fire at the martinez refinery leading to

china. just in the last couple of minutes, he's been in the oval office saying, "hello, eu, we're coming forto pay the price on this one. yes, but i do think, you know, the one thing we've learned is that you can't... there's going to be some of these back channel and so, you know, tomorrow will be a big reveal, people, for the countries involved, and their economies and our economy. but i think we still don't entirely know what exactly of classic donald trump. and then, that's kind of like his classic negotiating so, like courtney said, i don't think we know having that message out there, in his eyes is, you know, perhaps giving him leverage. i also think — i mean, if this does happen tomorrow, i think that'll be one of the first major tests let's say, if prices of certain goods goes up — they didn't really offer much in terms of answers, people and businesses. so i think if it happens, i think that'll be the first tit—for—tat, particularly with the eu, where it and the eu responded. this week of howard lutnick, the commerce secretary pick, trump doesn't favour singular—product tariffs, tha

france and the eu are somehow also looking at —e to have 77 to have more india to have more collaborations especially in cellaberatiens espeeiallgrinrrr ~ . , of a time when their e with china and that is changing geopolitics and discussions on tariffs. and that makes it interesting” — w w, 77 this that makes it interesting” — 7—7 w— 77 this will be the first because this will be the first of the post which part at the visit. pest flhish' 7 ~ ~ ~ , minister would head prime minister modi would head to the united states to meet president trump amidst all the discussions on tariffs.- discussions on tariffs. yes, lots to come _ discussions on tariffs. yes, lots to come over - discussions on tariffs. yes, lots to come over the - discussions on tariffs. yes, i lots to come over the week for that. archa na shukla. in mumbai. to boost domestic demand. we treat as an ongoing economic cycle is an ongoing cycle for india on the macro front. it was a major driver for that element of productivity. as we look to recover, the broader to mid—low end so essentially, what we see at this juncture, the economy orchestrated very quickly. so that's the challenge of these mid—cycle corrections, t

keir starmer visits brussels to meet with eu leaders — as president trump threatens tariffs on the world's largest trading bloc. welcome back. be confined to chinaxico and canada alone. in comments to the bbc overnight, the president made it abunduntly clear tariffs on the eu "will definitely happen". and president trump said he is not ruling out tarrifs on the uk either. we'll see how things work out, it might happen with that a $300 billion deficit. products, they take almost nothing, and we take everything from them — millions of cars, tremendous amounts of food and farm products. is really out of line, the uk is out of line you not be surprised to hear that been reacting to that in brussels today. president trump's tariffs impact the traditional western alliances. starmer said he does think that the two sides can find an agreement on defence. if you look at our vital interests, with both and we don't see it as an either or. on defence and security with the us and it is in the best interests of the uk, but also the best interests, i think, in terms of global with the us and with europe on these vital issues. alongside sir keir was nato chief

now, whether that's processed in an eu jurisdiction or a us service the west, so it's not going back into chinat imagine you got into job imagining you into thisjob imagining you would be at the centre �*a storm. what - ressure global storm. what pressure does it put a new? it global storm. what pressure does it put a new?— global storm. what pressure does it put a new? it does. i'm talkin: does it put a new? it does. i'm talking to _ does it put a new? it does. i'm talking to you _ does it put a new? it does. i'm talking to you at _ does it put a new? it does. i'm talking to you at midnight i does it put a new? it does. i'm talking to you at midnight and| ii—i just want: 77 just wantzto 77 just wantzto get 77 just wantzto get our 77 just wantzto get our story i just want to get our story across so people don'tjust see as a greedy mining company us as a greedy mining company taking the when you taking advantage. the when you take on a role you take it all on. i did not expected to be this political �*trump to this political or mr trump to go hard in the press on greenland. i did not expect them

china. donald trump is a row with his trump is having a row with his neighbours, with canada, he is eu. ; ee': aging; if. ' w ' ' ' to its globalfootprint, comes to its global footprint, is trying to expand that. china is trying to expand that. it's already one of world it's already one of the world leading trading partners for 120 different countries, especially across emerging economies like the global the ichinese president south. the chinese president might an to might see an opportunity to stand in contrast to the united states. in stand in contrast to the united states. ., states. in a moment we will take - reaction _ states. in a moment we will take - reaction from - states. in a moment we will l take - reaction from mexico reaction canada as hula" ' ' 777bu7t7f7irst,77 7 7 7 77 7bu7t7f7irst,7here7 7 but first, here is well, but first, here is thomas in washington. she explained what president trump was trying to achieve by the imposition of trade tariffs on these three countries. the border to stop the illegal flow of drugs into the us. and for donald trump, this will be a win, t

china tomorrow. reporter: has the president made up his mind about a timeline on terrace for the you? -- tariffs for the eu? karoline: no. reporter: will it be differentiated among tariffs? karoline: what i can tell you is the president will be implementing 25% of canada, 25% on mexico, 10% on china tomorrow for the reasons i have laid out in this briefing. newsmax, go ahead. no, the gentleman behind. james, thank you. reporter: two quick questions on foreign policy. one ponderous question thereafter. on iran, with her little about the president's iran policy besides his determination to prevent that nation from achieving a nuclear weapons capability. is it the president's objective short of the use of u.s. military force to use the broad array of his powers to try to hasten the end of the iranian regime? karoline: the president made his position on iran very clear. he made that clear when there were negotiations about the cease-fire which we know is now in place. the deadline has continued. he said that hamas and iranian backed terrorist would have hell to pay if it did not move forward. quickly thereafte

i think if we look away from brazil and south korea and japan and china and eu has been problem countries for us on trade issues but there are so many other countries where if we have these agreements, and i used george w. bush as example, and his negotiator alan johnson, about 13 countries, probably seven different agreements, with countries you don't even think much about being significant in world trade, and we have increased tremendously with these free-trade agreements our surpluses with those countries. if you want to comment? mr. greer: everything you said is important to keep in mind moving forward with policy. obtaining export markets to ensure our farmers, ranchers and anyone are not completely dependent on china for their livelihood, because that can be a high risk proposition. my guess is we will always trade with china but we have to have diverse export markets for exporters. if we can be thoughtful in going to other countries where we see concrete areas of advancement, we should pursue that. i look forward to working with you if confirmed to talk about where we can get the m

mexico, 10% china possibly coming towards the eu. do you think this will be popular in america?think it will be massively unpopular once the economic impacts of this become apparent, because this will be massively disrupted. supply chains to the supply of oil into the american market. america gets 60% of its oil from canada. it will be inflationary. it will hit competitiveness. it will hit growth. so if he sticks with this and there and there is a trade war between the three closest trading partners of the united states, it's going to actually we've already seen it hit the markets. it's going to be disruptive in a way that will be disruptive in a way that will be a big shock to many people who voted for trump because they thought he would bring down prices. >> so why is he doing it then, david? why is he putting tariffs on incoming goods? >> well, i think actually it goes back to the fact that trump has believed in tariffs for decades and he now has an opportunity. he has the power to do this. and for him it's a bit of a mantra. he thinks he can raise money from it. he can press

china, threatening to up in global trade. in beijing is preparing a u.s. trade proposal to avoid further tariffs and the euro slides as donald trump says the eu is next . so the clock is going down to those tariffs kicking in tuesday. this is the market reaction. futures set for a battering, pointing lower. we look at the automakers and minors and the impact on europe and the pledge that european terrorists are coming next. keep an eye on the metals and on copper. that's falling. s&p futures stateside looking to drop. let's flip the board and ebola cross asset. yields down at the back end of the treasury curve, reacting to the re-imposition. euro-dollar at 1.02. the two year of the front end. it's a different picture and crude diverging and that is significant. you are looking at an increase. bitcoin and ether also taking a hammering. it's a safe haven. that argument has been trashed today. let's check in on the canadian dollar falling to the lowest level since 2003. the mexican peso the chinese yuan. the canadian dollar down 1.3%. canada and mexico say they will retaliate. china working on a proposal to try to appease donald trump. let's cross over to

you can see the likes of china, mexico and canada all have now the us also has a large deficit with the eu goods, but what about services? the us sells much more in services to europe than the other way round. like gas and oil. for his government. of income taxes over there. but to raise hundreds of billions or trillions, thank you, faisal economics so britain is not first in the queue here for the trump tariffs, but may not be immune especially when major powers, allies even, do start these tit—for—tat tariffs. thank you, faisal islam, economics editor. and victoria will have more on president trump's trade wars, on newsnight, over on bbc two shortly. is our trade deal imminent or not with the us? we will ask the man who served as president trump as my ambassador to the eu in president trump is my first term. we will also talk about the new ofsted changes that came in after the suicide of head teacher ruth perry. we speak live to her sister to ask what she thinks of them. that is live on bbc news, bbc two and iplayer. that is in about a quarter of an hour. see you then. thanks, victoria.

meanwhile, tesla falling more than 3% after reporting that its ev sales in china fell sharply in january. this amid reports that the eus set to lower tariffs on u.s. autos in a bid to avoid a trade war with president trump. phil lebeau joins us with all the details. hi, phil. >> hi, courtney. >> let's start. >> first off with the. >> sales in china, which were not good in the. >> month of. >> january for. tesla in. comparison to their competitors, they. >> were really not good. tesla down 11.5%. byd up 47.5. keep in mind. >> byd sells. >> not only electric vehicles. but a larger percentage of their sales are hybrid vehicles. nonetheless, they were up. >> 47.5% in. >> terms of the global ev sales race. yes, tesla. was number one. last year. not by a lot, but. >> still number one over byd. >> number three, way back at 880,000 is general motors. tesla also got some bad news yesterday. in terms of auto sales coming out of europe, in. particular germany. they were down 59%. >> in january. >> and as i said yesterday. >> courtney. >> one month does not. >> make a trend. >> but take all these numbers together. and it clearly

china. tom: really crucial. really worth reading her opinion piece. indeed. president trump said the euld be his next target but england may be spared. keir starmer is in a somewhat awkward position and lizzy burden joins me. 10 keir starmer balance a relationship? lizzie: he is talking to both sides. it's the first time a prime minister has been to a summit dinner, he has less room to accommodate trump's demand, the most bullish case is ruthless pragmatism and starmer would pick the eu reset, despite brexit, he backed denmark and that was noted by both sides. tom: keir starmer had a message, what was the message? lizzie borden: he hoped the sentiment in that you need to spend more to prevent war, notably no confirmation of gdp spending. there is a sense that keir starmer is the demand or. you look at how physically squeeze and it's hard to see him spending on defense spending. tom: indeed. a potential challenge with the u.s.. the maker of obesity drugs bracing for thinning sales. this is bloomberg. ♪♪ ♪ three little birds ♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ welcome back to the earnings focus, novo nor

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hockings. said he would impose tariffs on the eu — overnight, asian markets also fell, just days after import taxes were imposed on goods into the us from from chinada and mexico. meanwhile, the us dollar and oil prices have rallied on president trump's announcement. so — what exactly are tariffs? essentially, tarrifs are a tax on imported goods, in theory, this can encourage citizens to buy our north america correspondent nomia iqbal has been following events and sent us this update. and showed no signs of let—up, saying the uk could be in sight. would you consider taxing the uk for example? it will happen. it will definitely happen with the european union, i can tell you that, because they've really taken advantage of us and it's an atrocity, what they've done. and we'll see whether or not we can balance out our budget. in the discussions that i've had with president trump, trading relationships. so it's very early days. like the american tariffs, our response will also be far—reaching and include everyday items such as american with oil at the lower rate of io%. into the us. america imports. president trump has made it clear that he's not afrai

interested in bilateral agreements i think we look away from brazil and south korea and japan and china and the eutries for us on trade issues but there are so many other countries. with countries you don't even think much about being significant in world trade. we've increased tremendously with the free trade agreements our surpluses with those countries. >> everything you just said i think is really important to keep in mind as we move forward with trade policy. i think obtaining other export markets to make sure exporters farmers and ranchers and anyone else i'm not completely dependent on china for their livelihood because i can be a high risk bopposition but my gases we will always trade with china but we do have to have diverse export markets for our exporters and i think if we can be thoughtful and going to other countries where we see real concrete areas of advancement we should pursue looking forward to working with you if i'm confirmed and the rest of the committee to talk about where we can get the most bang for our buck and other markets. any agreements we have are aligned with the our

china. the president has also warned the eu and the uk they could also face tariffs.e planning to release plans to retaliate, which means this is looking like the start of a trade war that will impact u.s. companies products, consumer prices, jobs. that uncertainty is and contentious interaction. sending the dow down. you can see 550 points or so. the nasdaq is set to drop close to 400. let's see if we can get the latest reading. yeah a little more than 400 points there for the nasdaq. so we'll keep watching this. hate to be the bearer of bad news, but it is the reality for a little bit. thank you for joining us here on mornings on two. i'm pam cook. >> and good morning i'm dave clark monday morning february 3rd. steve has our forecast. the rain is coming. but you said it will be later in this evening. >> dave, we're going to name pam debbie downer. thanks a lot. >> i always look for positive news. >> i know you do. >> there isn't one in this story yet. >> that's true. mr. clark is correct. there is some rain there, but the heavier rain is lifted north. it will be her

or someone studying trade that said, hey, listen, we're really taking it on the chin from china or from the eunow we need to put tariffs on china, that china is taking advantage of us or the eu. you know, the president, president trump had talked about the fact that you don't see chevys or fords in berlin. so what what what order is do automakers say it to steelmakers. say it. what ceos say right. tariffs are a good idea. so interestingly. >> it's less. >> what i call heavy industry. anybody who actually manufactures something physically because. >> the cost. >> of doing that manufacturing back in the united states, creating those factories and doing that fast takes a long time. and so i think you're not hearing it from them. >> where you are. >> hearing it. >> is. >> actually from. >> big tech, from silicon. >> valley saying, you. >> know, we're not allowed to do. >> business in these other countries. >> and that's a digital business, of course. and so. if we're not allowed to do business. >> in. >> china. >> they shouldn't. >> be allowed to do business here. that's that's where you hear more

doing now because we're threatening tariffs against the eu, mexico and canada, which is completely counterproductive. >> the back and forth with china comes one day after president trump agreed to pause tariffs on mexico and canada for 30 days. that decision was made after those two countries promised new border security measures to help stop illegal immigration and fentanyl trafficking. robert f kennedy jr. cleared a very big hurdle towards senate approval as health and human services secretary today. the senate finance committee advanced rfk jr's nomination on a 1413 party line vote. kennedy has faced heavy criticism over his long history of calling vaccines dangerous, but he told lawmakers last week he's not opposed to vaccines. democrats voiced serious misgivings. >> do senators want their legacy to include disregarding basic health science and instead elevate conspiracy theorists, making robert kennedy secretary of health and human services? in my view, colleagues would be a grave threat to the health of the american people. >> mr. kennedy and the administration committed that he and i would have an unprecedentedly close, colla

. $577 billion worth of goods in 2023, but americans buy more from china than the other way around. of chinese ones. to impose on the eus trying to drive investment inward. through and feed back into the uk. including at home. dharshini david, bbc news. around and the uk, this bbc news. let's uk, this is bbc news. let's take a look some other take a look at some other stories making use now, the criminal cases review commission says has commission says that has a request lucy received a request from lucy p's team to a f's legalteava te’ iheestigete’ e’ for miscarriages case for potential miscarriages of the former nurse is ofjustice, the former nurse is serving whole life sentences serving 15 whole life sentences and prison after found and prison after being found guilty of murdering seven infants and the panel of children's health experts believe the babies died either from natural causes or because of bad medical care. family of 15—year—old will goose 15—year—old harvey will goose who died after being stabbed at a in sheffield yesterday a school in sheffield yesterday pay tribute to 7: athey they said their son would

news, florida. and he told me what china's countermeasures could look like. countermeasures, but they have not yet said what those measures would be. in response to euhey do decide to go that route, it would likely be on particular us goods or services. as his reason for introducing these tariffs when it comes products to make their way into the us. is that chinese officials have not, in his view, done into the manufacture of fentanyl. inability to control its fentanyl issue. seeing an emerging theme, because china produces so many goods that are exported globally, where foreign western of particular goods. we've especially seen this with the war in ukraine. with fentanyl as well. government has said it's willing to negotiate with the trump presidency. what would they be negotiating about? well, foreign companies in china have repeatedly on the ground here. the first trump administration, from 2016 to 2020, resulted in a trade war, an agreement which nominally gave greater so, the widespread view here is that trump is using these for american businesses or american companies on the ground in china. but the evidence from the previous deal is that eve

doing now because we're threatening tariffs against the eu, mexico and canada, which is completely counterproductive. >> the back and forth with chinaday after president trump agreed to pause tariffs on mexico and canada for 30 days. that decision was made after those two countries promised new border security measures to help stop illegal immigration and fentanyl trafficking. and president trump is placing direct hire staffers for the u.s. agency for international development on leave, except those deemed essential. that move upends the agency's 60 year international aid mission. employees will have 30 days to return home. thousands of u.s. aid employees had already been laid off, and programs worldwide shut down after president trump's sweeping freeze on foreign assistance. many workers have legal protection against arbitrary dismissal and being placed on leave without reason. the american foreign service association has said it is preparing for a legal battle. >> president trump praising elon musk today, saying musk was doing a great job slashing government spending and moving to shut down agencies such as the u.s. agency for int

doing now because we're threatening tariffs against the eu, mexico and canada, which is completely counterproductive. >> and the back and forth with chinane day after president trump agreed to pause tariffs on mexico and canada for 30 days. that decision was made after those two countries promised new border security measures to help stop illegal immigration and fentanyl trafficking, and mexico has begun deploying national guard troops at the border. they're working to prevent drug trafficking into the u.s. as part of that deal reached between president trump and mexican president claudia sheinbaum to avoid tariffs, additional units are also set to be deployed. they'll join the more than 10,000 mexican troops already stationed along the border. [music] well, the drenching rain just continues to fall at this hour, and the winds have also been causing problems in san francisco. we'll have details on the problems on the treets of the city and for all those making it big out there... ...shouldn't your mobile service be able to keep up with you? get wifi speeds up to a gig at home and on the go. introducing powerboost, only from xfinity mobi