in the past 2a hours, the trade spat between china and the us seems to be escalating yet again after try reconfirmed its stance that the country will not hesitate to fight back if the us take further protectionist measures and the director—general of the world trade organization is the latest two warned that global trade could be undermined if governments resort to restrictive policies. it is not possible to accurately map out the effects of a major escalation but clearly they would be serious. a breakdown in trade relations among major players would derail the recovery that we have seen in recent yea rs, recovery that we have seen in recent years, threatening the ongoing economic expansion of putting jobs at risk. while president trump has a lwa ys at risk. while president trump has always justified his frequent attacks on america's biggest trading partners by claiming his policies protect american workers. but in the southern state of tennessee, which actually voted overwhelmingly for mr trump in 2016, the prospect of barriers to doing business with china is threatening to derail a

the us lodge a claim against china at the wto recently.nded through the beauty terms, referencing wto agreements. so this official correct procedure going on and tandem with this vigil antigen says, as at work. so disinvesting tizzy out that will play out. what makes me believe that summary could break that these of not being an pose, and that almost gives both sides time and room to manoeuvre, does that? absolutely. and this as a feature of us floor. there are so us waiting period where lobbying takes place to challenge tariffs. that will go on for the next month. we look that this would cause donald trump to reconsider. and we see that year ‘s done that. e.g. this relation to still tariffs must month. the offered a number of exemptions for canada, the eu, and a straighter. so will probably see the ta riffs straighter. so will probably see the tariffs and their current form ending up somewhat softer, fa cup and at all. but they suspect that they would not be as strong as they seem they would not be as strong as they seem so they would not

the us has added more fuel to the spat, threatening a further $100 billion in tariffs against china. ese would be in addition to the $50 billon worth of us tariffs already proposed on hundreds of chinese imports. earlier, washington set out about 1,300 chinese products it intended to hit with tariffs set at 25%. the proposal comes after china retaliated to that by threatening tariffs on 106 key us products, also worth some $50 billion. with me is our economics correspondent andrew walker. china is saying it is prepared to do whatever it takes to protect the country's interest coming yet another chinese negotiation tactic? there is a lot of, it is fair to say, strong positioning going on. you have too asked to what extent countries are defending their interests if they were to go ahead and take the actions they are threatening. i think most economists would tell you a trade more between two partners that are broadly similar economic size, both sides tend to lose. it is another matter where one is much larger than the other but in this case we have the world's other but in this case we

to china, and the ta riffs from the usare now imposed on products of about 3 billion. 50 tariffs are now imposed on products of about 3 billion. so it isn't hurting either country at the moment, but it is 13th consumers who buy these goods. calls. laachraoui is hurting consumers last time the us administration tried to impose steel and aluminium tariffs, which was from the khan bush administration in 2002, there was a substantial negative effect, and there are studies that have demonstrated that, to us consumers. ina demonstrated that, to us consumers. in a trade war, the consumer definitely loses, the final consumer, because they have to pay higher prices. whether that is justifiable by the economic or political gain is, a lot of the time, questionable. the us increasingly exports products like wine. how will that industry suffer? china is a market, but it isn't the biggest market. it's one of the things we would call an emerging market, in terms of wine. chinese consumers are getting accustomed to printing it. it might n

china has become the world's biggest market for cars, with more than 1000 new models are on display. but fears of a trade war between the us robin brant is at the beijing auto show for us. good to see you. tell us, it is this the talk of the show, this trade war, or is it all about the new cars they are trying to show off? what is they are trying to show off? what is the atmosphere like? it is about showing the world the new models these companies have. this market here is immense. 28 million new units sold last year. but talk to senior executives and they are worried about the prospect of a trade war covered eagerly for firms that could be trapped in the middle. i spoke to harold kruger head of bmw. they are not chinese or american, obviously, buta bmw. they are not chinese or american, obviously, but a global company. they make cars in the united states, but then export to china. they fear they could be hit if this trade dispute between america and china escalate is back. he said he will was worried about the impact on export economies and local economies. by that, he miss the united states, where they employ about 70,00

the china daily reports on the brewing trade war between the us and china, saying proposed tariffs one risk appetite of stock investors and raise market volatility. the telegraph says the bbc is to insist half of all expert voices on news and current affairs programmes will be women by next year. in the ft, according to the organisation for economic cooperation and development, far fewer workers are at risk of being replaced by a robot in developed economies than previously thought. meanwhile, in the telegraph business section, the boss of luxury vehicle makerjaguar says range rover and land rover car lovers will have steering wheels "for generations" and humans will always be able to drive if they want. this comes despite the company's new partnership with google's self—driving vehicles arm. and finally, like most other uk newspaper front covers, the independent has a picture of the infamous spitfire as britain's royal air force marks its centenary. so let's begin. with me is lawrence gosling, who's editor—in—chief at what investment. you are going to be taking us through those stori

this could get quite complicated and the chinese have not yet moved against major us exports into chinat, soya beans, cars, caterpillar tractors, et cetera, so there's lots of room for this to escalate further and get very complicated. does president trump have a point when he says the us as the biggest trade deficit in the history of the world with this country, china, and obviously china doesn't allow foreign investment into their country, so, you know, could there be a bit of needling here, to the chinese potentially give in on some of these demands?” think if it was clear what the us wa nted think if it was clear what the us wanted i think it would be easier for the chinese to respond, but i think the united states has shifted the goalposts here. if you read the 301ks, the us has four complaints about what the chinese are doing, forcing the... not protecting intellectual property rights, not using market methods to screen investments and spying on us cyber in the us. add onto that the us trade deficit that you mention, which isn't part of the case, but which isn't part of the case,

re—emphasised the global audience especially in light with continued escalation in rhetoric between china and the usare going to seek president xijinping think you are going to seek president xi jinping forcibly defend the moves china has already made and highlight reforms in the pipeline. as you say, that trade tariff dispute with the us, that is likely to form the background of the boa0 forum forum, presumably. china is looking to take new measures to the table. what you think they might be and are they trying to appease the americans? that is not the whole story. we've seen encouraging signs to set up the financial system and in china internally for the long run, promoting stability and dealing with some of the underlying structural issues that have been fermenting. i do think you are going to see china highlight some of the opening reforms that they hope may mollify the us highlighted at the forum. you hurt me mentioning facebook earlier with mark zuckerberg's testimony this week. —— you heard me. it has suspended another darter firm from its site. we are watching more developments from the camb

translation: for the last 20 years it was china who learned more from the us. ten years we will ride on each other‘s successes. there is no point thinking of who will surpass whom. this is the face of new china. a new breed of entrepreneur, young, confident with deep financial pockets to try something new. translation: deep financial pockets to try something new. translationzlj deep financial pockets to try something new. translation: i am not 35 years old. my entire management tea m 35 years old. my entire management team has a lot of people in their 30s. we are idealistic and can be rational sometimes. we also bring a lot of surprises. didi chuxing has a future for what —— vision for what the future will look like dick are parking problems, no bottlenecks, no traffic jams, no congestion. parking problems, no bottlenecks, no trafficjams, no congestion. and it will do this with one thing. data. there is a lot of sensitivity amongst officials in the us government the chinese government ‘s —— companies may hand over sensitive information back to the chinese govern

the t p p members sealed the deal in chile just last month but the us rejoining could still hold appeal it will help muscle against china's. ambition to gain really regional control and influence in asia just briefly surely the us would have an interest in rejoining i mean the agreement is meant to establish freer trade in the pacific asia pacific and also put pressure on china to open its markets. that it would but several other countries are also suspicious of what being used as leverage against china this us china trade war some also reluctant of a negotiation to remain renegotiate with a rather fickle president of the united states he who constantly changes his mind so it could boil down to a list of pros and cons and seeing which side of that list is heavy drain thank you very much for the analysis this is unlikely to ease trade tensions china's trade surplus with the u.s. widened last month in figures just out and this will further infuriate don't trump chinese trade isn't farmers a shrugging off the risk of u.s. soybean tariffs china is the largest bya isn't a stranger to the business. soybeans the latest casualty

international monetary fund and world bank are in washington, dc for their annual spring meeting with us— chinas hanging over the gathering, officials are warning governors to avoid harming trade and investments, which have been key drivers of the global economic recovery so drivers of the global economic recovery so far. the imf chief, christine lagarde, said escalating trade tensions could reverberate through the local economy, undermining confidence and taking off investment. she urged both sides to resolve their disputes through dialogue. because the world is so interconnected, the supply chains are involving so many different countries, regional, intraregional, into regionals, that it could affect the global economy —— interregional. it is better to cha—cha than to war war. that is the thing at the moment. looming global debt is on the agenda. there is the hangover from the financial crisis, a drop in commodity prices, and increased spending. this is what it looks in china where the public debt stands at about 51% of gdp. united states is twice that at 108%. japan, it has been doing its ow

there comes to mind immediately where the us and china in the context of the digital environment can cooperate would be in medical diagnoses and the capacity to harvest enormous amounts of information on medical research and using the right algorithms to help us get more quickly to diagnoses now that were are beginning to see can be harvested and rendered with high levels of competence. the whole business of countering terror and there are other reasons why china and the united states need to cooperate in this regard and there are real capacities in that regard, as well. i would sibley say we have not seen it play out yet but we are very interested in the same how president xi's objective with respect to the outcomes of the 19 party congress and china's intend to surpass the united states by 1930 with emergent knows how that will play out. china has some cases advantages some people would say disadvantages in that it has at its core the capacity to create great cohesion between the objectives of governance government and the objectives of chinese companies. there is much more capacity

korea example because it is notjust that the us wa nts because it is notjust that the us wants or can say well, chinarket, do this or you cannot export here or we will slap tariffs on you, but the us is also exporting into china and southeast asia, and especially that in north korea, s0... especially that in north korea, so... it is the complexity of it, isn't it? because none of us will have to work soon, according to the guardian. quoting the oecd, 66% of jobs can go thanks to the robot. i know this is close to heart, you have been writing a lot about it the wall streetjournal. a fascinating piece, how different countries are more or less set to these kinds of issues. you imagine this is across the board, far from issues. you imagine this is across the board, farfrom it. issues. you imagine this is across the board, far from it. yeah, a red that 35% ofjobs in slovakia are highly automated, this is only the case with 6% ofjobs in norway. which goes to show that depending on how digitalised and advance the economy is in a particular country, there is a higher or lower risk. i think now there is this

the us has said that it's specifically focusing on china's robotics, aerospace and machinery sectors.n total the list targets $50 billion worth of chinese imports. the us president has accused china of unfair trade practices and, in announcing the list, the office of the us trade representative echoed those concerns saying it was trying to rectify ‘s chinese trade practices that are worse american firms into sharing intellectual property with domestic chinese companies. there will now be a 60—day comment period before the list is finalised and the tariffs go into effect. already, several us business groups have said that they oppose the tariffs. kim gittleson, bbc news, new york. as i said china has condemned the us tariffs, and said it will take countermeasures. let's go to our asia business hub where sharanjit leyl has been following that side of the story. there is no cooling off yet. certainly not any cooling off. as you say, the chinese have condemned it. they issued a statement saying that the fresh tariff proposals covering chinese exports worth some $50 billion us, describing

china. so the us has its first round of tariffs. china threatens to respond. d today, china's threat of those first round of tariffs is starting. so, in terms of the details though, we have got 128 us products, 120 of which will have 15% tariffs, and eight of which will have a 25% tariff. so apart from nuts, fruit, ginseng, wine, we have scrap aluminium and pork. china could ramp this up though, of course. these are not things that are really going to hit the us as hard as it could. but they are looking for a way out. after all, if you, you know, burn it right down to the core, who would lose out more from this? i mean, both sides would be very hurt in a trade war. but because of the surplus, i guess you's have to think it would hit china more in the long run, than the us. and so they're going to be looking at some point for a negotiated settlement. on the us side, you have all these people who think, even if they don't agree with donald trump's tariff measures, because they're opposed to that, you know, they can see that it could be in breach of world trade or

that looks as of now chinese play the us at a time game, the us as play china at a time game, the us re was a lot of game-playing. a dozen years or donald trump. you doesn't tread quietly on the water to get a reaction. east ryde to get a reaction. east ryde to get a reaction. there was no doubt that china behaved badly and the area of treating the lost 25 or 30 years. but this america's most of what market. thank you for xi jinping was not going to challenge what dontrelle said these ridiculous. seen here in ‘s comeback with an even bigger berserker, for want of a better expression, possibly costing $35 billion worth of things. this too early on the morning and london. but‘s talk about this. agreed article by our generalist. visitors —— diseases each of these men as you read redditch other town —— tds as the —— uses that they are dancing aged redditch other and try to see what patterns. never seen daily volatility but we are seeing at the moment. you then get the two of them around the table to start talking about this and the next two or three months, we may hanna some chance.- dona

and that's sparked fears of an all—out trade war between the us and china.hat's keeping markets and investors on edge. also, paving the way for the next generation. later in the programme, we'll hear how new technology is transforming the way we build our roads. and as more companies report their gender pay figures, today we want to know whether the issue has affected you? do you feel like your pay progression has stalled? or perhaps you work in a company which pays women more. do let us know, just use the hashtag bbcbizlive. hello and welcome to business live. today is the deadline for british businesses to give a breakdown of the gender pay gap between men and women. there are lots of different measures of pay inequality, but on an hourly basis, the last year's figures showed that men are paid 18.4% more than women here in the uk. the world economic forum says that pay inequality is a global issue and that the gap has increased every year since the turn of the decade. but this varies massively across different companies and industries. for example, the con

what we have seen is china trying to take the moral high road on the global stage so that they can prevent usina. there are be more coming from washington, by the sounds of it. exactly right. it is important to note that the tariffs we saw from china today are a response to the first round of tariffs, the so—called section 232 tariffs on steel and aluminium imported from china, ostensibly taken on national security grounds. but we have already seen since then and other round of tariffs from the white house, the so—called section 301 tariffs, around intellectual property, restricting us imports of technology products from china, so we have yet to see the chinese response to that second round of us tariffs. you're right: the tit—for—tat is expected, and it is 60 billion dollars‘ worth of tariffs, so we can expect a second doit mash —— a similar level of ta riffs doit mash —— a similar level of tariffs in the second run. there is a kernel of truth to the point that president trump made on twitter, though he was recalled for that remark. the kernel of truth is that because china runs such a large

and, on the markets, there were falls across asia and the us, with china's retaliatory tarffs rattlingnvestors. and, in asia specifically, the sell—off of once—much—favoured us technology shares deepened, as us president donald trump attacked amazon over the pricing of its deliveries through the united states postal service and promised unspecified changes. there's been a sea of red on international stock markets this morning after us technology stocks staged massive drops and volatility increased in the wake of a possible trade war between the usa and china. let's go to our asia business hub, where shara njjit leyl is following the story. hi, sharanjjit. the markets are really rattled. that is right, somewhat rattled, because we saw the shades of red, as you said, stocks essentially extending the global sell—off following steep declines on wall street on monday and initially we saw the nikkei falling 1.5%, the hong kong hang seng, australian stocks falling to a lesser degree, they have pared back some of the steep losses and they are recovering somewhat. we know that the wall street a

relations lecture at the royal holloway university and london welcome to the program thanks for joining us china says the president trumps tariffs on exports of course serious damage to its interests china's not alone but it's reacting a similar move from beijing who stands to lose more from this. well i think it's really hard to see i mean the treaty always legard nuclear war everybody's going to lose but if you are talking about a purely number as i think probably china is going to see. it in that china a large amount of trade so us with the us again so i don't really want everybody's going to do is there's no winners in the. mission and this all kicked off when president trump started increasing tariffs on steel and aluminum so this doesn't just include china here how many other countries do you envisage being dragged into this. we'll i mean a few months ago on here and asked. korea korea or like your examples you are the major one who will export a lot steals our nine and really into us and z. probably worries more than china because the other major exporter to the u.s. market but obviously

but also, what is going on more broadly, tradejitters between the us and china and the fa ct between tering uncertain times. the european union was part of the exemption when it came to aluminium and steel tariffs. but for a little period of time, germany was very worried. its biggest export is cars? that's right. if you are a big industrial exporter, you are exposed. they breathed a sigh of relief when donald trump added europe on that list. it shows you how exposed you can be. thank you for coming onto the programme. that's it from business live today. there will be more business news throughout the day on the bbc live webpage and on world business report. we'll see you again tomorrow. hello there. we have got some warm weather on its way from where hello there. we have got some warm weathéi—‘fo today {fromrwhere hello there. we have got some warm weathzi’ielff today those where siaiengfinin “- 51:53, w w we “term in l we l—a n- la .—.— - -..- 25. towards birmingham, 25. even towards edinburgh and belfast, temperatures 18 or 19. it will feel warm if not very warm. back to today, this

despite growing signs of an economic rift with the us, china announced its economy is still growing atn impressive pace. the worlds second biggest economy grew by 6.8% in 01 — however, a reliance on borrowing has led to concerns about debt levels in the coming years. although chinese government debt is relatively low, the debt held by the country's companies — or, more specifically, the "state—owned enterprises" — is not. according to the economist 45% of all debt in china is held by theses soes, while they represent 40% of the chinese stock market. let's get more on this story from shanghai with robin brant, our china correspondent. can you unpack the starter for us today? —— this data. can you unpack the starter for us today? -- this data. 6.8% growth in the first three months. that is a repeat of what we saw in the final six months of last year. it is steady as she goes in that respect. these are good figures. they suggest the chinese economy continues to grow at a very healthy rate, but overall, its growth is slowing down. the chinese government wants a soft landing, and these numb

us pork. combined, china and hong kong make up the second biggest market which exports us pork. impact on rural american pig farmers. they are slapping a 25% tariff on this. there are some lower taxes on wine, fruit as well as some nuts, but all of this, as you just mentioned, is in retaliation to president trump who last month said he will hit on aluminium and steel, which was very much targeted towards china. now, this all comes back to trump on the campaign trail, where he said there were unfair trade ca ctuses he said there were unfair trade cactuses with respect to china, especially regarding intellectual property. china has fought back and said we will be hit hard by this so we need to impose our own tariffs. they are also looking at legal action with the world trade organization, going after the us. action with the world trade organization, going after the usw looks like it is just back and forth, the does something, china does something else. is there any end in sight for all of this? well, the us is expected to be giving a list. the us trade representative has until apr

china won't be the only country. joining use former head of imf‘s china division and a senior fellow at the brookings institution. thank you very much for being with us. thank you very much for being with us. donald trump does have a point when he comes to china. they do have difficulty, us firms come in operating there. that is a glut of chinese deal on european and american markets. what is the right way to tackle that if you are not going to use tariffs? youtube administration has had gripes against china. —— the trompe administration. china has net kept to its commitments. it is very difficult for american firms to invest in china. but what the us could have done more constructively would have been to create a common front with the many other countries around the world that have similar concerns about chinese trading and investment practices. instead, mr trump went after many of america's trading partners first. canada, japan and so forth and then took on china. it is going to be difficult for him to get these countries alo

they quote gwynne shotwell telling a tedtalk they'll be flying people from the us to china via space in a decade and it'll cost the same as a regular flight. and the guardian on why we may all soon be forgetting our passwords. biometrics, web cams and apps may soon be accepted ways of accessing your online accounts, which means we can finally forget all of those passwords! nina's back with me to look through those stories. let's start with the telegraph. i have to say, i was looking at the papers this morning, just about every front page has got donald trump ata every front page has got donald trump at a picture of him on it all the tweet on it, this story is dominating. it is. we at the wall streetjournal are preparing dominating. it is. we at the wall street journal are preparing our coverage for it because people are expecting a decision any time soon. the uk government is today debating on whether tojoin the the uk government is today debating on whether to join the us. that means that theresa may is meeting with her cabinet today. parliament is on the easter recess, all of the m

china has imposed $3 billion worth of taxes on us products in response to donald trump's tariffs on steelctions could spark a global trade war. i've been getting the thoughts of the shanghai bureau chief that the financial times. the overall total, the total value of these 128 products is only about $3 billion, calibrated to match the size of steel and aluminium products from china to the us, which the trump administration sanctioned with new tariffs are a couple of weeks ago. we have seen china trying to take the moral high road on the global stage so that they can prevent us allies in europe andjapan they can prevent us allies in europe and japan from joining the fight against china. there may be more coming from washington, by the sounds of it. that is exactly right. it's important to note that the terrorists we saw today from china area terrorists we saw today from china are a response to the first round of turrets, the so—called section 232 ta riffs turrets, the so—called section 232 tariffs on steel and aluminium imported from china, and that was ostensibly taken on national securit

china. the urgent question now is will continue with the provocation from the old remove. and take usall to be of war. there never have been two countries more into dependent on each other then china and the us in history. and china is the largest trading nation in the world and in history so china's economy and their society going to lives are linked to the entire world including america the west and the other countries so so i think independence between these two countries and among all the nations of the world. speak to peace. we don't have to accept the word of those who can drop threats and force sanam is to justify the business and profit of war if we recognize there is another superpower. and that's us ordinary people everywhere like the people of arkansas jesuit island the marshall islands china the united states by speaking out they deliver a warning to all of us can we really afford to be silent. from cool briskness and fuel. to the warm tranquil waters of southeast asia. hello there we've been seeing some severe storms in parts of south america recently mostly out of this w

president trump has proposed an additional $100 billion in tariffs on china. the usosing to triple the import duty in response to what he labelled as china's and fair retaliation against those initial us tariffs. meanwhile, back —— beijing has launched a wto challenge against the proposal and has now requested for consultations with us officials. as china and the us lock horns both in public and behind closed doors, many investors remain nervous about whether we are headed towards and other global trade war. 0ne headed towards and other global trade war. one of them is the asian infrastructure investment bank, or aiib, it was set up by china two yea rs aiib, it was set up by china two years ago as an alternative to the world bank. it has approved more than $4 billion in funding for infrastructure projects around asia. so how worried is the bank if the world's two biggest economies are engaged in a trade war? is a question i posed earlier. engaged in a trade war? is a question i posed earlierlj engaged in a trade war? is a question i posed earlier. i am more worried a

the president is insisting any deal with china must be fair, must be fair to us, the united states. china has been taking advantage of us. china has been taking advantage of american workers for too long, he says. he wants to address the trade imbalance right now before it gets any worse. we'll have details coming up. confusion in syria after a devastating chemical attack on civilians. the president condemning the attack just a few moments ago, calling it horrible and barbaric. what does that mean? he says we will respond. how will we respond. question have intel for you. joining me north carolina congressman, robert pit -- pittenger. >> happy monday,. trish: how would you characterize this? that we're headed for all-ought trade war with china. how would you temper that with the rhetoric is? >> frankly i think they should be significantly encouraged we have an individual as president of the united states, who is a businessman, a frankly a shrewd and smart, tough, negotiator. the basic premise of any good negotiation is facts. the facts we have 375 billion-dollar trade deficit with ch

china is basically less than 1% of exports of steel and aluminium to the us, and if you look at the retaliationumber of agricultural goods yesterday, but actually it excludes one of the major exports, which is soya beans. soya beans is close to 15 billion exports from the us to china, and the tariffs are now imposed on about, products of about three billion. so it's not hurting either country at the moment, but it is hurting consumers who buy these goods. it is, it is, of course, and if you look at the past actually, the case where last time the us administration tried to impose steel and aluminium tariffs, which was from the bush administration if i remember correctly, back in 2002, there was quite a substantial negative effect, and there are studies that have demonstrated that, to the us consumers. so in a trade war, effectively the consumer will definitely lose, the final consumer, because they will have to pay higher prices, and whether that is justifiable by the economic or political gains is a lot of the time questionable. the us is increasingly exporting products like wine, how will that

just use the hashtag, #bbcthebriefing. the first space station chinanched into orbit is no more. it's been crashing towards earth for two years and has finally re—entered the atmosphere above the south pacific. it's thought most of the ten metre long tiangong—i module broke up on re—entry, although some fragments of the space lab could still be intact. lebo diseko has more. heavenly palace blasting off. china's first space station was supposed to be a launchpad for bigger and better projects. but since then, the eight—ton spacecraft, around the size of a school bus, has stopped working and come crashing down to earth. there was much speculation over where it might fall. estimates including south america, africa, central asia, the middle east, just to name a few. in the end, the south pacific is where it came down. it came down into the vast waters below. all this is a far cry from the space station's glory years, when two different crews of astronauts visited. china says it's dealt with the situation according to international conventions. but it all s

us. what do you make of this latest initiative by china? does it make sense?makes a loss of sense. it was a little bit ofa a loss of sense. it was a little bit of a surprise in terms of the timing but not a total surprise. president she spoke about this at a forum earlier that this is the first time we have heard a schedule associated with the programme and there will be a full phase—out by 2022 on foreign ownership permits, that is about four years from now. what is surprising is that as soon as this year they may lift the foreign ownership limit for any new energy vehicle manufacturers. so companies such as tesla could produce cars in china ina such as tesla could produce cars in china in a wholly—owned struck. general motors and volkswagen are already doing quite well in china. how will this to —— further benefit them? and how will this play out for other manufacturers to want to make it big on the mainland? that is the great question. china is the largest automotive market in the world and general motors and vw have the largest market share they. what you

the us is china's biggest trading partner, with over 18% of all chinese exports going to the us. isn't the same value of goods moving in the opposite direction. the us imports nearly $350 billion more than it exports from the world's second largest economy. meanwhile, us farmers say they're worried that this isn't the way to resolve a dispute over trade imbalance. this country is half $1 trillion deficit in trade and that is responsible for millions ofjobs that are outsourced in about a 3% drug in our economy so it needs to be dealt with, the question is how you go about it, how do you do it in a fashion that begins to deal with the trade deficit and does not have all this negative spill—over impact on agriculture which is entirely predictable? we all knew that if the ta riffs predictable? we all knew that if the tariffs will be implemented, agriculture will be the first place it will be hit and it will be hit the hardest. with me isjinny yan, chief china economist at icbc standard bank. it is cooked to get a chinese perspective on this —— it is so good to get a chinese perspecti

is not likely to help the tensions between the us and china. these are just the quarterly numbers. numberss on steel, aluminium and other products. other products. reliance on exporting to countries like america. like america. factors including the recent lunar new year holiday. new year holiday. leisha, thank you very much. share index going up, the dowjones going down. going down. which crisis do want to concentrate on? concentrate on? will happen next week, corporate results. results. people excited although others with it is overdone. it is overdone. middle east and worries about sanctions against russia or china. sanctions against russia or china. which one shall we pick? take your choice. choice. have more details on that in just a second. second. let's go on to what is happening in the us. on wall street today. largest banks. register their biggest quarterly profit growth in seven years. in part due to higher interest rates and additional trading revenue. of widespread consumer abuses. a very fragile market. at seven investment management. thank you forjoining us. through what jamie

us, the people. the corporations have their lobbyists. china's standing up for that are own interests and in the meantime sure, quarterly earnings look good but what happens 10, 20 years from now? joining me our very own kristina partsinevelos, along with kaltbaum president, gary kaltbaum, national center for national interest senior fellow, christian whiten. i'm starting with you, christian. it has been allowed to happen. it would be easier to deal with this 10 years ago or 20 years ago, we had more leverage then. but it has to be dealt with at some point or what do we face? >> we are essentially enriching our biggest strategic competitor, the only patient state that poses a systemic threat to the united states. the only country could end the united states of america through combination, political, information warfare, we have been enriching our elites, corporations, the davos archipelago has been pushing us as you said, saying china is the white whale. you can't ignore the market. wow, $1.23 billion consumers, how can you ignore that? you have

interesting timing giving the spat between the us and china as far as ta riffs between the us and chinancerned. is that overshadowing events there? i wouldn't say overshadowing body bits on the mind of senior executives we have been speaking to. —— but it is on the mind. events like this have a big draw. we have been speaking with bmw. their chief executive. also the ford senior man for the asia—pacific region. the prospect of a trade war is of concern, particularly for a bmw. it is a global company. it is an iconic german brand. neither chinese north american. but it could get caught in the middle if there is a trade war because it manufacturers in the united states and that exports cars here to china. the chief executive talks to me yesterday and he warned donald trump e has real concerns about the impact of new trade barriers upon local economies, as he described it. by that he means bmw's operations in the united states and in china. bmw employs 70,000 people in the united states. they have a multi—billion dollar investment. i also had a big chat with ford and bmw about the reforms

perhaps leading to a unified korea and the uncertainty that could bring for china all right agent thank you very much indeed for giving us. commentary from china very important country of the sea in this let's go back there now to james james spays our diplomatic editor his there overlooking the demilitarized zone so overall by and large this is being quite a successful day isn't it as the leaders go in for dinner. they certainly were saying there in their declaration and in their public statements about the declaration that this was a successful day it certainly was a historic day just the simple fact of kim crossing the demarcation line into south korea was on its own historic and some of the things that have been agreed here if they happen i will stress that will be historic a formal end to the korean war peace between these two countries that are still technically at war a return visit by president moon this a president of a country is not even an office for a year his approval ratings before this summit were. about seventy percent or so i suspect they'll be even higher after this we expect him after this meeting has

for the past 20 years it was china who le pt the past 20 years it was china who lept from the us, butars we will ride on each other‘s successes. 20 years we will ride on each other's successes. he is the face of new china, a new breed of chinese entrepreneurial. young, confident, with deep financial pockets to try something new. translation: with deep financial pockets to try something new. translationzli with deep financial pockets to try something new. translation: i am now 35 years old. my entire management tea m 35 years old. my entire management team has a lot of people in their 30s. we are idealistic and can be rash sometimes. is but we also bring a lot of surprises. he has a future for what the future is going to look like. —— a division. no parking problems, no bottlenecks and congestion it will do all this with one thing, data. there is lot of sensitivity amongst officials in the us government and consumers that chinese company may hand over that sensitive information back to the chinese government. how do you view that attitude? translation: when american countries first ent

us. china's big brother is always watching at home and abroad. one on one east investigates how far china will go to control its citizens lead on an easier. thanks. he leave. leave. leave. leave leave leave leave leave leave leave leave leave leave. leave. all of it out if you like ok yeah date. me. because the soviets not to stand. for anything that i don't see you know one hundred percent i study i don't think anybody's going to go to war you know. i mean this. i'm only eighteen. and never was expecting to arrive. on. a boat got no memories of being here when i was young. and. i don't. know. what. basically got everything down at the united states and he said well i left everything behind you know. i don't even know what i might do down here. to sleep you. know that. it. took the input in the movie ticket people so you. give me full. let me state to remember to you that's a plus to me with the. fact it was painful for me. but. they didn't like it but people are going to last thirty plus i think they will get out of school because. whoever comes

we're i'm sharanjit leyl in singapore, the headlines: us markets fall nearly 2% as china retaliates in the us trade row. pork and wine are among the us imports targeted — so what does washington do now? i'm babita sharma in london. also in the programme. tributes to winnie mandela, the controversial anti—apartheid campaigner, who has died at 81. in the midst of depression, she was the voice of disk —— defiance. and just what made north korean officials issue an extremely rare apology? good morning. it's 7am in singapore, midnight in london, and 7pm in new york, where the dowjones has fallen by nearly 2%. partly due to china's decision to retaliate and impose tariffs on more than a hundred imports including pork and wine. it's in response to president trump's decision to slap duty on chinese—made steel and aluminium. so the markets are nervous and everyone is wondering what the next move will be. from washington, gary o'donoghue reports. at the white house today, the trump's were entertaining children in the annual easter egg roll. but all the jollity couldn't mask the fact that on trad

china. and this will have an impact on us and on our importers and our partnership. >> reporter: she's not the only one. china is the fastest g wine market in the world according to the wine institute last yearalone, greater china brought in $210 million worth of ne from the.s. >> it is what we call the first year barrel room. reporter: david is a ceo of open us one. i says their relationship with chinese custome so critical the winery even offers tours in mandarin. >> emerging markets are critical to the health of the larger market. china is one of the most dynamic emerging rmarkets. orter: but he isn't as concerned about the tariffs. a bottle of open u one costs about $600. reny experts say at that price level customers willing to pay more for the brand. >> i think it is very fair and not surprising to understand that luxury priced products are lessee elastic in terms of the impact of price changes and the demand for them i think will be less eppacted. >> rter: stephanie says while the after thes may cut into chise sales in the short-term they will continue to invest in the relationship for

domestic demand is the driving force for china's economic development and an essential requirement for us‘s ever—growing need for a better life. china does not seek trade surplus. we have a genuine desire to increase imports and achieve greater balance of international payments under the current accounts. this year, we will significantly lower the import ta riffs significantly lower the import tariffs for vehicles and also reduce import tariffs for some other products. we will work hard to import more products that are competitive and i needed by our people. we will seek faster progress toward joining the government procurement agreement. we hope developed countries will stop imposing restrictions on normal and reasonable trade of high—tech products and relax their controls of such trade with china. this november, we will hold the first china international import expo in shanghai. this is a major platform. it will be an annual event. it is not just another expo in it will be an annual event. it is notjust another expo in the ordinary sense but major policy initiative and the commitment ta

on the brink, as china and the us head towards a trade war, will either side pull back from a growingist of taxable goods? and as grab begins the process of taking over uber‘s southeast asian business, we get a behind—the—scenes look at the ceo's ambitious plans. hello and welcome to asia business report, i'm sharanjit leyl. welcome to asia business report, i'm shara njit leyl. we welcome to asia business report, i'm sharanjit leyl. we start with stocks, and on wall street they recovered from big falls earlier in the trading session, and in fact if we ta ke the trading session, and in fact if we take a look at asian markets, they have also opened mainly higher amongst the markets that are open. the nikkei in tokyo and australia's all ordinaries are taking their cues from wall street as well, the reason being that investors are now getting that back and forth para threats between the us and china will not lead to a bigger trade dispute. it took beijing about 11 hours to respond to the trump administration's latest list of products it plans to hit with a 25% tariff. china says it plans

president trump used china as an economic enemy. i think he has used that term. on china's part, they see the uss trying to contain their ambitions, their territorial ambitions in the south china sea , their ambitions to contribute more to global institutions and to have more military power around the world. on both sides, there's definitely a sense of increasing tension. host: with that in mind, talk about the placement of tariffs from the united states on certain products, the retaliation from china. you saw what happened and what is the larger implication? guest: earlier in march, president trump took the step that he had set his administration on course last year when he asked for investigation into whether or dumping,'s steel aluminum dumping created a national security risk for the our steel and aluminum industries have been hollowed out the past few years. after that report came back, it seemed to recommend the tariffs and that's what he did. he slapped tariffs on steel and aluminum and not just on tim china, but many countries including our allies like jap

stay with us. china rolls out new tariffs on us meat, fruit and other products.ium, and is the latest move in an escalating trade dispute between the two super powers. and before we go, our regular viewers will know how we're fascinated by robots here on newsday. so here's a robot doing a gangnam style dance. not only is it a great dancer, it also has a serious purpose. its main role is to teach languages to children. it's called elias, it speaks 23 languages, and it's being tested at a school in finland. but first and foremost, it's a great mover. that's all for now. stay with bbc world news. hello there. 0ur easter sunday wasn't too bad. the best of the sunshine was reserved a cross the best of the sunshine was reserved across the north on in the west of scotland. we look to the south for the next area of low pressure which will bring disruptive weather. monday, areas of rain, sleet, and snow. it continues to push northwards during the early hours of easter monday with snowfall likely across the higher ground of wales into central and northern england and even

china. about 26% of all us pork production is exported.h comes from outside us borders. so any restriction on our export markets is not a good development for us pork producers. we are focused on maintaining and expanding export opportunities. so this was not good news for us. the us wine industry is also facing big new barriers to trade with china, an area where america saw a 10% growth last year under donald trump. he is right in certain areas, of targeting different aspect of this dispute. but the broad, sweeping tariffs we have seen have not maybe achieved the goals that he might want to see in the long run. doing something about the substantial trade deficit with china was a key part of donald trump's election success. but it comes with risks, both economic and political. these are just the opening skirmishes in what threatens to become a full—blown trade war. the us is already planning restrictions on a further $60 billion worth of chinese imports, and china in return could hit those midwest farming states hard. in a congressional el

significance was his repetition of the pledged to cut import tariffs on automobiles coming into china from the us to open up countries and also a pledge to open up china further to foreign investors, and in particular, again, in the automobile sector, make it easierfor american in the automobile sector, make it easier for american firms, say, in the automobile sector, make it easierfor american firms, say, who wa nt to easierfor american firms, say, who want to come and invest, the loosening up on the rules on the requirement at the moment to have a joint fletcher, 50—50 split, with chinese companies. those issues are and the current dispute between the us and china. president xi addressing them was not new, but it is significant he came from —— it came from his mouth. no timings. cuts to tariffs on some of the products this year, he said, but no timings on the changes and the extent to which they will be enacted as well. thank you. very interesting. that had an impact on share markets in asia. they pretty volatile session on wall street the night before. closing higher. the european markets righ

so china and u.s., there's not -- neither of us is going to have an advantage. china probably has an advantage in data. for a whole host of reasons that i won't get into. they also are at parity or maybe pulling ahead in terms of their compute resources. the only advantage that the u.s. really has in this game right now is talent. and so to the extent they're funding our companies to acquire or absorb talent is something that we need to think really hard about. the one example that immediately comes to mind is going from google to bidu. and -- >> stanford to google. >> yeah, i'm sorry, stanford to google to bidu. and i would imagine that he got a fair amount of u.s. government funding through various means while he was at stanford. so, you know, to complicate it further, i would say we need to not just focus on the technology but the talent itself. >> and on the talent side, with our current interest in cracking down on immigration, it could drive the talent further abroad, which will make this problem much worse. other questions. right here is another question.

china uses mostly nonmilitary forces backed up by military ships and aircraft. to advance its authority in the south china sea. he claims it intermittently enforces authority over economic activities, hydrocarbon resources and fishing. he claims intermittently or in forces -- ships and airplanes when they approach chinese occupied areas. and altering fortifications on the islands that it occupies and it has built infrastructure for military facilities on the seven islands -- 700 miles to the south. however at the strategic level the higher level china has paid a heavy price for these aggressive activities. from about 2002 until 2010 china emphasized economic diplomatic relations and overall influence with governments in southeast asia were strong and increasing. southeast asian countries exporting more and more products to china, relations with the us and japan while friendly were considered less important by these countries. then were those with china and it seemed only a matter of time before china would be able to fashion a settlement of territorial claims ver