wants to suppress us. chinaen a strong response to the us so i believe my country has the ability to withstand this. this is the new china, rich and confident. a country that wants to show off its economic success. despite all the criticism, this is a success china feels it has worked hard for and will not surrender easily. karishma vaswani, bbc news, beijing. what are the knock—on effects? there are now reports to pan is considering a bilateral trade deal with the us. that would lower tariffs on american agricutural imports, but allow japanese autos to escape higher tariffs. that's according to the nikkei. let's go to our asia business hub where shara njit leyl is following the story. lots of ripoll lots of ri poll effects lots of ripoll effects of this trade warand lots of ripoll effects of this trade war and this is one of them?m lots of ripoll effects of this trade war and this is one of them? it is, indeed. the japanese and us are hoping to get a head start when the japanese economy minister meets its us tr

if the us begins to target china, it will have a huge impact on us businessmen operating here, not justs the stronger will will win. but, for now, i still believe china has the ability to control the situation. from china's point of view, the us has also reaped multiple rewards here. looking at the last few decades since the us and china established diplomatic tie, all the us companies are in china, some have a big operation here, some bigger than in the us, you can't say that's not a success. what do they have to complain about? this is coming at a delicate time for the chinese economy, which is slowing down. at a local university we hear how it has some worried aboutjob prospects, and also how it is leading to a rising sense of national pride. translation: china has risen quickly over the last few decades and has ca ptu red over the last few decades and has captured the attention of the world, that's why the us wants to suppress us. that's why the us wants to suppress us. china has given a strong response to the us so i believe my country has the ability to withstand this. this is the

he said the relationship between the us and china has soured now. to go ahead with that. when he spoke at the panel on entrepreneurship. he didn't directly reference any of that. what he did talk about, however, was the us and china trade frictions were some wasn't happy with. he did expected to go on for 20 years. he also gave the advice to business people and entrepreneurs that they should plan for the worst. he is getting very practical. when it comes to the event, to what extent has been overshadowed. this is one of the dominant themes. this relationship between the us and china is arguably the most important economic and geopolitical relationship in our world today. i thought it was very interesting what he has to say. about the differences in cultures and understanding between the two countries, which many people have said to me, is really the reason why they are not able to come to some sort of resolution. he said, while the chinese prioritise, the west emphasise competition and they need to have more discussion and dialogue. thank you very mu

, these ta riffs chamber of commerce in china, these tariffs are hurting us companiese than chinese companies. a survey last week showed that nearly 6% of american firms in china would consider moving back to the us, despite tax incentives back home. us companies do not think that tariffs is the best way to address the lopsided economic relationship. however, we asked our companies, what do you want us companies to do for you? the number one and so was to level the playing field. —— cancer. —— answer. the second ends was promote an economic relationship with china based on fairness and reciprocal treatment. that is what the us administration is doing. —— answer. is it the best way, maybe not. but they have a sense, we are talking to they have a sense, we are talking to the chinese, they are serious, they don't want a trade war, any more than most of us us companies. sol think that we might be going in the right direction. after that dollar for dollar, it gets to a point where china doesn't have much in the way of american goods to retaliate. what are some of the things

us. to start off with a trade war between that china and the us and beijing has hit back at president donaldariffs on $60 billion of american goods. this comes after washington slapped duties on $200 billion of chinese imports on monday. listen to what china's foreign ministry spokesperson had to say. translation: china has to retaliate against us measures. to firmly defend our legitimate rights and interests and safeguard the global free—trade order. and interests and safeguard the global free-trade order. the president has noted that chinese try to hurt the people he promised to help in his election campaign. retweeted: —— he tweeted. there was some relief in the global markets that the latest round of us ta riffs markets that the latest round of us tariffs against china is less damaging than initially feared. some technology products are excluded. let's ta ke technology products are excluded. let's take a closer look at what the us stands to game and lose. a 10% tariff on $200 billion worth of chinese imports should, theoretically, raise 20 billion us dollars for us federal coffers. on th

in 2017, china imported $130 billion worth of us goods. t round of tariffs this year hit $50 billion of that trade, and today, almost all remaining imports, $60 billion worth, were targeted. but, while china may have few options left, many us businesses don't think the trump tariffs are working. we had a survey recently. only 6% currently were considering moving back to the us. so the us is hoping forjob creation. we don't really see that happening. it is the grim prospect of economic pain with no political gain. jon sudworth, bbc news, beijing. more analysis on the trade wars coming up, and don't forget you can go to our website for a breakdown of the issues, including more on what's happened so far. that's at bbc.com/news. let's take a look at some of the day's other news. israel's prime minister, benjamin netanyahu, has expressed his regret at the loss of russian lives, after a surveillance plane was accidentally shot down by syrian forces on monday. russian officials had earlier alleged that israel was indirectly responsible for the dow

while not directly mentioning the us — china trade tensions that would seem ratcheted up tensions thatd up recently, he did say that the current economic environment has been challenging for china but that this country has the ability to cope with the challenges. interestingly, he also talked about how the international system by which trade has been governed for the last few decades, multilateralism, those rules must be upheld because not doing so won't help anybody. this obviously is criticism or consent. what many in asia see the trump administration doing and that is basically dismantling the international multilateral trade system that has been so successful certainly in terms of asian economies. that was one of the key m essa 9 es we economies. that was one of the key messages we heard from the chinese people today. foreign firms will be given equal access as chinese companies. that's always been a major bone of contention between the us and china. american business community representatives have also told is that the critics will say we have heard this from china before and more

he said it was based on the pledge of strong us china relations which have turned sour. is week with both washington and beijing announcing caris. president trump accused china of meddling with the us mid—term elections, which they doing strongly denies —— tariffs. this is when china is holding the world economic forum. in an hour we will hearfrom jack ma, who has announced his retirement in a year. joining us from than during is asia business correspondent karishma vaswani. a busy day in tangerine, lots of traffic and people around you. is this a big surprise that jack ma is backing down on his promise to create i million backing down on his promise to createi millionjobs in the us? it's quite an unusual statement but i don't think it should take many people by surprise simply because of the nature of the relationship between the us and china right now. given what mr ma said, i think it's quite clear that relationship has soured quite dramatically, particularly this week. you've got to rememberjack ma is an icon not just around the world but very much so just around the

what is the number for china's total exports? $2 trillion us. this number, it's not so big. don't forget, china has a big internal market. when something happens from outside, the chinese government can still stimulate domestic demand to make up for this kind of shortfall. i believe that china can come out of this crisis in a nice way. at the heart of this trade war is the allegation that china has stolen intellectual property from american firms. definitely not. china or any country in the world, particularly in the age of globalisation, technology transfer is important for everybody so transfer is important for everybody so china has borrowed some technology, china has done something oi'i technology, china has done something on the so—called international base, based on international rules. it's a time —— it's a kind of technology transfer. thank you very much mr jiang shixue, the deputy director of the european institute of studies with the chinese academy of social sciences. we will be coming to you with lots more throughout the day from the

the battle of the heavyweights — the latest round of us tariffs against china comes into effect as therade war escalates. live from london, that's our top story on monday 24th september from today, $250 billion worth of chinese imports to the us will face an additional 10% tax — we'll look at what impact it could have around the world. also in the programme: 21st century fox fails in its bid to buy sky, with the uk broadcaster telling its shareholders to back comcast‘s offer. and markets in europe markets lower at the start as the us—china tariff war escalates — but a slower start to the week than usual with markets injapan, china and south korea all closed. and tick tock they are no longer in stock! we'll be getting the inside track on the fashion label that's gaining popularity despite its clothing only being available for a short—time period. we would like to know if you think the uk's shadow chancellor idea, john mcdonnell, forcing all large companies to give shares to their workers. do you think it is a good idea or not? get in touch let us know — just use the hashtag bbcbizlive h

happened, talk us haven't seen what has happened, talk us through the twists and turns in the us and chinathe united states considers china's ambitions for cornering large parts over the next couple of decades are fundamentally inconsistent with global trade rules and the use of subsidies and industrial policy. but there is a specific issue that president trump has focused on, what he calls the theft of the technology of american companies doing business in china, and he has taken some quite assertive action in relation to that. initially with tariffs on, if you like, penalising tariffs on $50 billion worth of chinese exports to the us. the chinese retaliated and earlier this week president trump decided to stick further tariffs on another $200 billion worth. that's another $200 billion worth. that's an enormous amount of trade totalling half of what china sells totalling half of what china sells to the united states, roughly. within hours of president trump announcing that decision, the chinese came back with further retaliation and there is every chance president trump will up the sta ke

the us understands that any trait war is that two edged knife. it is not good to chinato the us either. surely, it puts more pressure on china? china can think about many, many ways and one of the most effective ways is to stimulate domestic demand. we have 1.4 billion people. let's say one chinese person can spend one extra yuan a day. that would be $200 billion us a day. we need is something to stimulate the demand. no one can tell you what will happen regarding china's position but i'm quite sure that both sides, including the us will make some compromise. jiang shixue there from the chinese academy of social sciences. that is the overriding sentiment i have been hearing from delegates at the world economic forum. we will have more the youth rap the day. thank you so much. karishma vaswani there at the world economic forum in tianjin. 0ne us firm that will likely suffer the consequences of a drawn out trade war is fedex. it reported quarterly profit that missed wall street estimates on monday — mainly due to employee compensation and other expenses — and its shares f

and it is notjust the us and china, is it? us and china is the headline, but it is the us and pretty much anyone else at does business with, and these tit—for—tat ta riffs business with, and these tit—for—tat tariffs are becoming such a big issue for the markets. and when you look at trade wars, no one really wins ina look at trade wars, no one really wins in a trade war, especially when you have two such superpowers like the us and china. the us but tariffs on one side, china on the other. that ends up increasing the prices of everything so it ends up costing jobs at the companies that produce the goods, and ends up costing the consumer more to buy the goods. so the consumer is the only people that really lose in trade wars in the end, but this is causing such massive turmoil within the markets at the moment. and it is interesting, because she talks about that turmoil. one thing that has been a concern in the last week or so been a concern in the last week or so is this fear of contagion. we have seen investor flight from the

the board for asia, the ten —— ten of them in a row. on hopes of talks to resolve the escalating us—china war. we start in turkey where the central bank could be forced to push interest rates up above 20% today — to try and prop up the country's plunging currency, the lira. that's despite pressure from president erdogan who has called high borrowing costs the ‘mother and father of all evil‘, and has leaned heavily on policy makers to keep them low. the lira has slumped more than 40% since the start of the year as foreign investors pull their money out of turkey. its once fast—growing economy is slowing to around 5% in the three months to june — down from more than 7% in the previous quarter. but inflation is soaring — hitting almost 18% last month. interest rates have already been cranked up to 17.5% to try and bring the crisis under control. turkey is just one of many emerging markets suffering a plunge in their currency and growing concerns about levels of debt. as economist vicky pryce explains it's a legacy of the financial crisis a decade ago and it could mean big problems ahead for

a lot more coming in to the us from china and the us economy is reliant on imports. other nations as well, not just imports. from other nations as well, notjust china. imports. from other nations as well, not just china. there imports. from other nations as well, notjust china. there is a trade imbalance. do you think us businesses and consumers realise the significance of those numbers?” think this is certainly does. 0ne significance of those numbers?” think this is certainly does. one of the major impacts if not the major impact has not been on china but on american manufacturers, the very sector this trait wart is supposed to support. the american economy —— this trade war. american supply chains are breaking down. a lot of manufacturers that have survived globalisation are now facing serious problems. one of the consequences of the trump administration what could say is that the strengthening of the us dollar. that is also hurting the global supply chain. could that provide some relief? only at best in the short—term. what we are dealing with here is essentially

our top stories: raising the stakes in the us—china trade war.hington announces tariffs on $200 billion worth of goods. south korea's president gets a warm welcome in pyongyang, hoping to restart denuclearisation talks with kim jong un. rescue workers in the philippines search for dozens of miners and theirfamilies buried by landslides during typhoon mangkhut. and getting that red carpet feeling. the emmy awards are under way. we'll get the latest from los angeles. the us has announced new 10% tariffs on $200 billion worth of chinese goods — they'll be levied on 5,000 products imported to the united states from next week. they're the biggest round of tariffs imposed by the trump administration over what it calls beijing's unfair business practices. the president's told china it has had plenty of opportunity to address the issue and that any retaliation will see tariffs imposed on even more chinese products. mickey kantor, formerly secretary of commerce and united states trade representative, is now a partner in mayer brown llp, an international l

he says that the relationship between the us and china has been soured as a result.epreneurship. he didn‘t directly reference his plans in the united states but he did talk about the impact of the us—china trade war and said when he was speaking to chinese entrepreneurs or people who wanted to go into business, that they needed to plan for this for the next 20 years. he also spoke about the clash of these two countries. i thought it was very interesting when he said that china prioritises harmony, while the west prioritises competition. he said that for these two cultures to understand one another, they need more dialogue. i think that‘s advice that many would like the us and china to heed as we head into what looks like a protracted trade war. looking at the asian markets in general, a fairly flat session to be honest, but again a positive end with games on wednesday. investors continued to look on the bright side, perhaps an optimistic view that a deal could be done between the us and china in the future when it comes to trade. looking at europe, some specific stor

whatever thoughts on the us and china? where are we at that particular trade spat?ecause he chinese are keen on a lot of the restrictions that stop goods elsewhere coming into the country, and there insistence on intellectual property being transferred to example is something quite tough and sort of breaks with oui’ quite tough and sort of breaks with our own principles and the way we do things. citing that the us china deal, they are much more important than the others for a start and secondly, they are going to be a lot more difficult. —— so i think. but at least it suggests we are not com pletely at least it suggests we are not completely in chaos. thank you so much. we appreciate your insight so early in the morning. it is quite a big week this week. the co—founders of the social networking site instagram have both resigned. kevin systrom and mike krieger started the image sharing site in 2010, and continued to run the service after it was bought by facebook in 2012. 0ur north america technology reporter is in san francisco. why are they going? that is a very go

that's alarmed apple — because many of its products are made in china — and it has written to us tradeicials warning that products like the apple watch, the airpod and mac mini would be hit by us tariffs. it said this would lead to higher prices for us consumers and hurt the compa ny‘s competitiveness. that prompted a response from mr trump himself. he tweeted that there was a simple way forward for apple — it should bring production home to america. let's get more on this story from out north america technology correspondent, dave lee, who's at apple's new headquarters in california. so, before we talk the products, dave, has apple reacted to the advice from the president?m dave, has apple reacted to the advice from the president? it hasn't publicly reacted to that, sally, but the idea that apple could simply move manufacturing of the iphone device to this country is pretty unfeasible, because such is the low cost of making those kind of devices in china, bringing it back could increase the price of the iphone by as much as double, some think, so apple would not see that as a viable o

i feel sorry for the us company that is buying its products from china because the us company will payand, ultimately, the consumer. so this price being paid in the us and it is not clear if it will directly benefit us manufacturers as it is stated that it should. india has rolled out a billion dollar ambitious healthcare policy to provide health insurance for almost half its population. the scheme, known as modicare — after prime minister narendra modi — is considered to be the world's largest healthcare project and comes just ahead of the country's general elections next year. but are india's hospitals ready for this? devina gupta finds out. justi—month—old, karishma is already a celebrity in india. born in this northern village she is called the long life blessing baby. her mother became the first beneficiary of the new national healthcare insurance scheme in india known as modicare when the government covered the cost of delivering the baby at a state hospital. translation: when my first child was born i had to have a caesarean. we spent almost $2000. this time, before the child wa

the us and china are served by factories that are in the us and china, so there's a very good reasonarkets to be had for cars. comedy fracturing is truly international, so are plants all over the world —— car manufacturing is truly international solar plants over the world that serve these emerging markets. i've not heard anybody, even the most ardent brexiteers, give a convincing argument that says anything is going to be ok for automotive manufacturing if we don't have a decent deal. the business secretary, koi carp, has said the uk will regret it forever if it loses its status as a world leader in car manufacturing —— greg clark. do you share those concerns? absolutely, i've been in this industry many yea rs i've been in this industry many years and as far as the uk manufacturing industry is concerned we've seen it go through real lows and at the turn of the century, when we started to see companies like rover disappear, it looks pretty bleak. but what has emerged from thatis bleak. but what has emerged from that is a leaner, fitter, better invested industry, with more modern capa

china. there is the transfer of technology that has been forced by us firms to china and also the intellectualhey say has been going on. the donald trump administration and insisting they need to prep done may protect us jobs. and the chamber of commerce is against the additional tariffs. many us businesses are complaining about this. wivenhoe from the imf, warning that a half% of global growth will be shaved because of all of these trade tensions and those us businesses, particularly in china, we have from the chamber of commerce in shanghai and beijing. they did a survey and found that 60% of us businesses within china say that their businesses are already being impacted by the $50 billion number told you about earlier. all of this, of course, after the trump administration say they have had so many weeks of consultations for they impose this. to some extent, you could argue that the us has suffered this trade deficit with china for yea rs this trade deficit with china for years and there is some political support to this. some businesses say they will bear the brunt of the cost because they

we have the latest reaction from the us and china.ed from jail, samsung's defacto boss accompanies moon jae—in to pyongyang. and on the markets: the trade war between the united states and china

us doing this? president trump says he thinks trade with china is unfair. huge trade deficit with china but of course there are things like the enforced transfer of technology from us firms to chinese firms, the theft of intellectual property, they say, and the ultimate thing he is trying to protect, jobs. what is the chinese position? are they softening in the face of this hard stance although —— or are they remaining firm? the chinese have retaliated, they continued this pressure back and they said they will continue to retaliate. this time around, we haven't heard any immediate comment from them but that also made some concessions to allow a bit more in terms of foreign businesses going into china but we know the us business end, a lot of american businesses and consumers have been complaining. we heard from several chambers of commerce, the us chambers of commerce, the us chambers of commerce in china, they did a survey of about 430 different firms operating in china and they say 60% of them said they already worse off because of that $50 billion worth

these events will surely impact asia—pacific markets as we continue to absorb china, us trade, china.ntly impacting some sentiment on the markets this monday. the nikkei down by 112, but the all ordinaries up by ten. thank you so much for investing your time with us. i‘m rico hizon. goodbye for now. this is bbc news. the top stories this hour: two journalists investigating reports of atrocities in myanmar are to find out in the next few hours whether they‘ve been convicted of breaching the country‘s official secrets law. the un refugee agency has said that migrants trying to cross the mediterranean sea to reach europe are facing ever more deadlyjourneys. hundreds of prison staff have been caught smuggling drugs, weapons and other banned items into jails in england and wales over the last six years. the new figures, obtained through a freedom of information request by the observer newspaper, show an 50% increase since 2012. ben ando reports. drugs, mobile phones, weapons, tobacco — all considered contraband in prison. friends, relatives, even drones used to be to blame, but increasingl

it basically said china's rise will impact the us. a difficult thing to do to tell someone that you want to keep them down. that is the way china did it. but yes, this is the big issue and china 2025 which is their plan to have their own data and to keep data localized - that is what we should be talking about. were talking about tariffs and so there are two different things here. one is the trade deficit in the other is china 2025. businesses are worried about the 2025, not the trade deficit. liz: before china 2025 us businesses that went into china were forced to get a partner and give up or exchange technological know-how and proprietary intellectual property. that is what i was asking. would they be willing to drop that in order to end the trade war because that is what i think president trump would like to see in china is not budging on that. >> he said that there has been no legislation on that. here's the . liz: talk to [inaudible] they've all had their stuff taken. >> and what to do happen is they get a partner in the us compan

important issues with china, by the use of holding a trade gun to china's head is not greatlys china's head is not greatly help. it —— is not going to be helped. —— helpful. had eating china will respond? do you see them softening in the face of this hard stands. i don't think they will and frankly i am concerned. china has the second—largest economy on the earth, the second largest military on earth. the us and china relationship is important for prosperity and resolving political differences and this will not do it. the chinese politically can't do anything but to respond in a tough and difficult manner. i am afraid then much rock will react as well. we need to have some cooler heads prevail here. and i hope that happens. i am afraid then that trump will react as well. —— i am afraid then that trump will react as well. what are the dangers to the global economy, what are the dangers to the global economy, do you think the! well, this could unravel is picked —— do you think? . —— this could unravel. the two biggest economies in the world getting in a trade war and it will hur

data released over the weekend showed that china's trade surplus with the us rise in august with sharesclining further and that followed president trump's comments that he is ready to impose further ta riffs that he is ready to impose further tariffs on an additional $267 billion worth of chinese goods. i asked rock silvers what it will take to reverse that trend. —— brock. chinese markets are one of the worst performing in the world this year and is negative sentiment is u nfortu nately and is negative sentiment is unfortunately probably here to stay for a bit. the economy looks quite soft, it is slowing in down investment has slowed as well. the trade war with the us doesn't show any signs of abating and i think some of that impact has really yet to be felt. the currency is weakening and will be weaker still without government controls, and without government controls, and with the us federal reserve looking to raise rates this month and probably again in december that can only reignite pressures that. even as you say, a wage “— only reignite pressures that. even as you say, a wage ——

china is a rich country now. you look at the current state of relations between the us and china.. how did you see this trade war ending? we don't have much trust between the two countries. and i think that is legitimate on both sides, frankly. the way we are going about it now doesn't seem to be the best way of building trust. so having said that, how are we going to come out of this? i would really like to see serious time limited results oriented negotiation in which chinese will address market opening, reciprocal treatment. which chinese will address market opening, reciprocaltreatment. let's quickly show you the markets now. the typhoon that is ripping through the region, macau, many gaming and casino stocks are down significantly because of the damage that it is likely to cause. up next — newsbriefing. a new way of measuring poverty in the uk is being proposed, to include unavoidable costs like child care that some people face. alison holt has more. jenny has multiple sclerosis. she is also a single mum with four children. 0n benefits, she struggles to pay the extra child ca

let's go to asia now and the trade war between the world's two biggest economies, china and the us. trade organisation will try to get between the two of them. rico hizon is following the story in singapore face—off. anotherface—off! face—off. another face—off! laughter we are not talking about the recent complaint china has made about the us about this ongoing tariff wall. december 2013, beijing disagreed with the way washington assessed whether certain chinese exports had been dumped at unfairly low prices on to us markets. china has suffered more than $7 billion in duties annually and is seeking permission from the wto to impose the same sanctions as allowed under the rules. the global trading body is reviewing the complaint and the decision is coming very soon. the world trade organisation has pledged to mediate between the us and china as trade conflicts escalate. it is dedicated to force washington and beijing into a dialogue, a dispute that could lead to a full—scale global trading while. it could hurt global trading while. it could hurt global economic growth. thank you very

given that china is surplus with the us is it is so massive they can actually only respond but bought a third as much as what the u.s. can do you know on the trunk and in ministration you do even more. china can further cut off access to u.s. corporations in china. they can increase their tariffs by a higher percentage than what the u.s. did but the real the real threat here is that cut off rare earth elements and supplies used in u.s. weapons systems glassed cellphones and the like i think that's the big retaliatory threat at the moment miss actually and as usual thanks for being on the kaiser report pleasurably back on macs we got to do this again looking forward to it well that's going to do it for this edition of the kaiser report with me max kaiser and stacey or at last i guess miss shedd luck and talk dot com if you want to catch us on twitter it's guys report until next time by l. . join me everything on the alex salmond show and i'll be speaking to guest of the world of politics school business i'm showbusiness i'll see that. the thing you know we need to go back to invite mor

also in business briefing, the us—china trade warjumps into top gear, with america applying tariffs on250 billion worth of chinese imports. good to have you with us. briefing you on all you need to know in global news, business and sport. so, later in the programme we'll be hearing from the couple who bought this old warship online and it wasn't cheap. so we'd like to know what is your biggest impulse buy? just use the hashtag #bbcthebriefing. iran's president hassan rouhani is heading to new york for what promises to be a tense few days at the united nations general assembly. he's accused the us and its gulf allies of being behind a deadly attack on a military parade in southern iran on saturday. us diplomats have reacted angrily to his comments. later this week, president trump will chair a un security council meeting and has already tweeted that he will be "zeroing in on iran". from new york, here's our diplomatic correspondent james robbins. gunfire the moment the shooting started. iran's elite revolutionary guards under attack on home soil. many forced to dive for cover, as a para

might be a me a minute percentage it's largely accredited surprise surprise of course to the current us china trade war and the effect of another interest rate hike in the us which looks very likely. it will mean the the feds have already reset interest rates some seven times in the last twenty two months and there's news that they have confirmed that this is going to happen and five more times over the next fifteen months so that is already creating a chain effect. down the line it's a domino effect based on the u.s. inflation and a very solid growth in the u.s. so this is going to be an ongoing exist that's going to happen from the u.s. and it's already affecting and a so-called global currency crisis what the asian development bank says that it could expand trade within the region doing business with other countries within asia to make up for lost exports with the u.s. can asia really get by without the world's biggest economy. i guess the short answer to that is yes but what at what cost and that very big is going to be at the expense of growth of course. boring costs are going to be push

you have got manufacturing in the us, mexico and china.ss thus far from what has been going on? well, the global ta riffs been going on? well, the global tariffs are very complex topic and obviously, we are participating and have given our opinion and to provide constructive feedback. as you know, two phases of the global ta riffs have you know, two phases of the global tariffs have taken place and we have actually dealt with those very well because we have a very flexible and large—scale supply chain, so so far we have not seen impact. however, as we have not seen impact. however, as we think about the next phases of this conversation, we want to make sure that these decisions are taking place that do not only take care of the business but also what is right for the country. so our idea is that this is a complex topic, we will provide our input and then we will ta ke provide our input and then we will take actions as those decisions are made. writes, in fact, as the trade war drags made. writes, in fact, as the trade wardrags on, made. wr

made in china, such as the difference in the cost of labour and manufacturing costs between china and the usits china, some a nalysts say is very worried that its china, some analysts say it would be twice as expensive for apple to make the kind of profits it makes now on the phone made in china, such as the difference in the cost of labour and manufacturing costs between china and the us, so apple is very worried that its other products would be affected isn‘t one, to be clear, but some of the other products would be and they want to avoid that at all costs. president trump thinks the solution is simple, he insists they should make more of it in the us but not quite as easy tariffs. the iphone isn‘t one, to be clear, but some of the other products would be and they want to avoid that at all costs. president trump thinks the solution is simple, he insists they should make more of it in the us but not quite as easy as just a question on the new product launch from apple, always a lot of excitement about unlike under the late steve jobs, we are not seeing brand—new product, it is variations on

i do think the us will comply if the world trade organization allows china to sanction the us or pay us needs to pay a fine. i think viewers will comply. unless the writ was to leave the world trade organization, which very unlikely. iris pang in hong kong. it is less than six months from the uk's exit from the eu. theresa may is meeting with eu leaders in the austrian city of salzburg. she says britain has shown that ability in negotiations, and the eu should also compromise as the clock ticks down to 2019. theresa may says that her roadmap, known as the chequers plan, is the only way to avoid a no deal exit from the eu. we go to our corresponded in salzburg. on brexit, theresa may's plans have been described as unworkable. bonaparte, theresa may said there was no counterproposal on the table at the moment, and emmanuel macron of france that the troubles being faced at the moment showed that those who said britain would be easy were liars. -- said britain would be easy were liars. —— for her part. said britain would be easy were liars. -- for her part. bethany bell there. and now th

so, we are at the point when we expect tariffs on more goods coming out of china headed to the us.g very serious because the countries have already slapped ta riffs the countries have already slapped tariffs on $50 billion of each others' goods, that's a total of $100 billion of products from the united states and china, and it could get worse as the end of this week. and trump is even considering imposing tariffs on all chinese imports that could total $500 billion, but researchers and former government officials from keeping tanks, sally, from china and the us, meeting in beijing and washington, have urged both countries to remain rational and keep communicating and stop slapping tariffs on each other, so stop slapping tariffs on each other, so to de— escalate the trade friction, and they agree that bilateral relations are one of the most important in the world, the first time think tanks have had conversations, since earlier this year when the top two economies started to plunge into escalating trade spats. so we will wait and see what happens at the end of the week if indeed th

in 2017, china imported $130 billion worth of us goods. day, almost all remaining imports, $60 billion worth, were targeted. but, while china may have few options left, many us businesses don't think the trump tariffs are working. we had a survey recently. 0nly the trump tariffs are working. we had a survey recently. only 6% currently work considering moving back to the us. so the us is hoping forjob creation. we don't really see that happening. it is the grim prospect of economic pain with no political gain. linda yueh is author of great economists. earlier she told me how this escalating trade war could have a global effect. what we have now are tariffs, taxes, on the equivalent of 2% of world trade, and that is just from the us side. if you add on what the chinese have done, we are talking about the impact of 3% of world trade, and this isn't the end of it. president trump has said he will put a tariff on all chinese imports into the united states. that is $500 billion worth, if a trade deal isn't negotiated by next year. now, we know ho

us tariffs so far. we'll get reaction live from tianjin in china.o in the programme: the president of south korea arrives in pyongyang to huge fanfare, he has with him leaders some of the country's biggest conglomerates including samsung. what are the opportunities and obstacles for them 7 and what are the obstacles? financial markets are trading in europe, they look like this and at the moment seem unfazed by the new ta riffs the moment seem unfazed by the new tariffs coming from the us on chinese goods. also in the programme. . . its mission is to help the world's businesses run better and improve people's lives. the company? it's the business software company called sap. we'll get the inside track on how it tries to do that. as last night's emmy awards in la made clear — there's plenty of top tv choice right now. so today we want to know — is this the golden age of box set binging? are you hooked on streaming? let us know what you're watching — just use the hashtag #bbcbizlive. hello and welcome to business live. send us your comments, we will sh

china as its next big growth market. he told the bbc the current trade war between the us and china is very concerning.ave to be watching what is larger than to the consumer psychology. if people are going to become pessimistic and conservative, then there could be some impact on consumptions and behaviours of consumers. you consumptions and behaviours of consumers. you focus consumptions and behaviours of consumers. you focus more on asia and china now particularly with the amount of growth coming from china? i believe shiseido has a big advantage understanding chinese consumers, asian consumers. and offering them appropriate products and services. trouble on trips

look at the markets and see what asia equities rallied on thursday on reports that the us is seeking talks with china a survey by the us chambers of commerce in beijing and shanghai more than 60% of us companies operating in china have been hurt by us and chinese tariffs imposed on $50 billion worth of exports from both countries. in europe — it's interest rate day. mario draghi at the ecb is expected to offer only slight tweaks of the bank's guidance to stay on course to end bond purchases this year and raise interest rates next autumn. 0ne change will be a small downgrading of some of its growth forecasts after a string of weak figures over the summer. likewise, the bank of england is expected to hold fire on any further rate hikes after last month's rises. and samira hussain has the details of what's ahead on wall street today. 0n on thursday a report from the us labor department will likely show the consumer price index went up by 0.3% in august. cpi shows how much prices for goods have gone up or down ina prices for goods have gone up or down in a month. this is core cpi so doesn't include energ

in 2017, china imported $130 billion worth of us goods. und of tariffs this year hit $50 billion of that trade. and today, almost all remaining imports, $60 billion worth, were targeted. but while china may have few options left, many us businesses do not think the trump tariffs are working. we had a survey recently, only 6% currently were reconsidering moving back to the us. so the us is hoping forjob creation, we don't really see that happening. it's the grim prospect of economic pain with no political gain. john sudworth, bbc news, beijing. earlier, i spoke to our asia business correspondent, karishma vaswani. she's at the world economic forum in tianjin, china. a lot of people that i've been speaking to here at the forum, which is often called the summer davos, obviously there's deal of concern about what's being seen as the most serious escalation of the trade tensions between the united states and china. you know, we're looking at something like almost half of everything that china sells to the united states being put under a tariff s

i7 that is not in doubt, that china cheats. 17 of the last 17, the wto cases by the us against china us for the us. so there is clearly no doubt, even the wto agrees. is this the right way to go about addressing the balance? that is the issue. past presidents have tried. eight years of the 0bama administration, there was basically administration, there was basically a failure of doing anything about china. is it the right method? i don't think so. tariffs are never good. what is the right method? businesses are not keen on this. who knows what the us consumer thinks. what do you do about the problem? with president trump you have to expect the unexpected. he is being a bit courageous here, trying to shake the tree and get to the table. i think it might work. there might be some pain along the way. there hasn't been a material effect on the economy yet. the president is playing with the house's money. economy yet. the president is playing with the house's moneym not just the playing with the house's moneym notjust the house's money but the entire global trade system. this is significan

chain, but if you look at the gdp numbers is probably two tenths of one percentage point for the us and for chinaage point for the us and for china it is under five tenths. china have just released their numbers and the deficit between them and the us continues to widen. the us is continuing to import more from china and the rest of the world. will $200 billion worth of tarriffs impact? absolutely. i think consumers will really feel it and also anybody who is incorporating imports in their supply chain in materials and components, that will feel —— they will feel it as well stop it —— as well. feel —— they will feel it as well stop it -- as well. currencies continue to fall this week, with many hitting record lows about instability in places like turkey and argentina will spread to other emerging economies. be lira has went down in three months. closer to home, the falls have been to a smaller degree that in places like india, where the accurate to has fallen 5% against the us dollar. among the worst hit is indonesia's rupiah, which fell to a two decade low, bringing its decline to 8% against the

the us and china have hit each other with tariffs on billions of dollars of goods. ng to pay elon musk‘s space x big money for the privilege.

vastly improved as they sell oil and gas around the world and back in one nine hundred forty nine china used to be called the sick man of asia but now half the steel in the world is being produced in a state controlled steel industry in china they've also got the biggest telecommunications manufacturer in the world they're making huge breakthroughs in technology seven hundred million people lifted out of poverty these are two countries and in a way they're almost like a match made in heaven because on the one hand china needs lots of oil and gas to run their huge state controlled apparatus of manufacturing meanwhile russia has got lots of oil and gas that it needs to sell so in a way they just kind of compliment each other it's quite exciting what's going on you could say that russia and china these are two countries that are basically obsessed with growth and reducing poverty around the world and both of them have huge private sectors big corporations making lots of profits lots of business going on but they also a very active governments that aren't afraid to step in and make sure that the

also on the program us china tries to take the lead in artificial intelligence germany is desperately looking for humans with the right programming skills. and vietnam is one of the fastest growing economies in southeast asia now it's even building its own car brand we'll show it to you. it's time for business on the w m how you get us welcome to the show with less than six months to go agreement is far from a done deal u.k. prime minister the reason may is having to continuously defend her proposal for leaving the european union in an interview with the b.b.c. she effectively said it was her deal or no deal but the e.u. has its own approach and time is running out fast. are you confident about the time is running out for the eels chief brags that negotiator michele bunny ate he seemed anxious on his trip to madrid and was reluctant to answer media questions on bragg's it talks but later he had this to say on twitter quote a deal with the u.k. is possible if the integrity of the single market is preserved and quote in other words britain will not get preferential treatment when it com

our top stories: raising the stakes in the us—china trade war — washington announces tariffs on $200for dozens of miners and theirfamilies — buried by landslides during typhoon mangkhut. south korea's president heads north to pyongyang, hoping to restart denuclearisation talks with kim jong—un. and getting that red carpet feeling — the emmy awards are underway. we'll get the latest from los angeles.

in 2017, china imported $130 billion worth of us goods. d of tariffs this year hit $50 billion of tariffs this year hit $50 billion of that trade, and today, almost all remaining imports, $60 billion worth, were targeted. while china may have few options left, many us businesses do not think the trump ta riffs businesses do not think the trump tariffs are working. we had a survey recently, only 6% currently were reconsidering moving back to the us. so the us is hoping tojob creation, we do not really see that happening. is the grim prospect of economic pain with no political gain. —— it is. karishma vaswani is our asia business correspondent and she's at the world economic forum in tianjin, china. a lot to talk about here, but tell us a lot to talk about here, but tell us first what the reaction is there where you are. well, a lot of people that i have been speaking to hear at the forum, which is often called the summer the forum, which is often called the summer davos, obviously there is a great deal of concern about what is being seen as