President xi told Secretary Blinken that china and the us should be partners rather than rivals. Mr blinken for his part raised concerns over chinas support for russia in its invasion of ukraine. He also raised what he described as chinas unfair Trade Practices in a number of Key Industries that will drive the 21st century economy. Solar panels, Electric Vehicles and the batteries that power them. China alone is producing more than 100 of Global Demand for these products, flooding markets, undermining competition, putting at Risk Livelihoods and businesses around the world. Now, this is a movie that weve seen before, and we know how it ends, with american businesses shuttered and american jobs lost. President biden will not let this happen on his watch. Lets speak now to our north America Business correspondent, erin delmore. In the background to this meeting was a warning we heard from President Biden recently that more tariffs on chinese imports could be on the way. What does this me
That put this in perspective, the United States remain the largest market for chinese product of any country Around The World and our own Trade Relationship remains very significant, in fact, Trade Relationship remains very significant, infact, china is our Third Largest Trading Partner and after mexico and after american businesses and investors in shanghai there remains very strong interest in working in this market, provided that we a level Playing Field and a fair shot. When we do, we do very well. But when we are looking at the question of tariffs, measures etc, what were focused on its practices engaged in by china that are unfair and undermine our businesses and our workers and this question of overcapacity is the one that is front and centre. China is responsible for one third of Global Production but one tenth of global demand. So there is a clear mismatch and when you have products that are produced here and producing a way thatis produced here and producing a way that is hea
Across the country. Skirmishes broke out between protesters and police at the university of Southern California in los angeles. At the university of texas in austin, the governor sent in State Troopers in riot gear to confront demonstrators who waved Palestinian Flags and chanted free palestine. These demonstrations have spread since the arrest last week of more than a hundred protesters at Columbia University in new york sparking debates about free speech and the right to protest. Our west coast correspondent emma vardy sent this update from the university of Southern California in los angeles. Protesters arrived here on campus around eight oclock this morning. They have stayed for much of the day. Earlier on tents put up by protesters, police asking them to take those down, that led to some scuffles and clashes between protesters and Campus Police here. One person was detained but we understand they were released pretty quickly. In the hours that followed the protest here in los ang
Is down over 15 in after hours trading. Erin delmore explains why. Meta Ceo Mark Zuckerberg piqued investors interest when he predicted 2023 would be the year of efficiency, and he won them over when he delivered on it. The stock nearly tripled last year. This year, meta shares are up another a0 . But on wednesday, meta released its First Quarter Earnings Report and shares initially slumped during after hours trading. Facebook s Parent Company did Beat Expectations on revenue and earnings, but it disappointed on its Revenue Forecast for the Second Quarter of the year. Higher expenses also weighed shares down. So wednesdays Earnings Report marked a back down to earth moment for the formerly red hot tech giant, and it moderates expectations for the months ahead as the company grapples over how to generate profit off of Generative Aland drum up Advertising Revenue in an increasingly crowded market. I spoke to tech analyst ray wang of constellation research, and asked him what he made of m
We start in the us, where shares of meta, hello. If you are justjoining us, you are in time with the top business stories. We start in the us, where shares of meta, the owner of facebook, instagram and whatsapp plunged in after hours trading after its forecasts disappointed wall street. Investors are concerned the huge amount meta is spending on Artificial Intelligence may not translate into higher profits. Lets show you the details. When it comes to how much money meta is making, profits came in at 12 point 4 billion in the first three months of the year. Thats more than double the amount it made this time last year, and better than expected. But heres one of the numbers worrying investors, meta expects its costs to rise to almost 100 billion this year, as it invests heavily in al and virtual reality. Coupled with a forecast that revenues will barely grow in the Current Quarter that sent shares plunging some 13 in after hours trading. Wiping as much as 160 billion off its stock market