Is business today. It is packed. Were starting in the us where President Joe Biden has said that china is cheating, not competing on trade as introduced tariffs on 18 billion worth of imports and Electric Vehicles to steal. He has accused the country of unfairly subsidising its Clean Energy Sector and flooding International Markets with cheap exports which is says hertz American Businesses and workers. Our north American Business correspondent has more from new york. Its not often we find former president and agreement but we have seen President Biden keeping tariff enacted by his predecessor and increasing them. They focus on key Technologies Powering Green Transition and approve a 100 tariff on Electric Vehicles imported into the us, up from 25 . A doubling of the levy on solar cells to 50 and on semiconductors, to 50 . President biden says they are designed to protect us manufacturers from being undercut by china in the industries of the future, from Electric Vehicles to solar cells, semiconductors, steel and aluminium and even health equipment, like gloves and masks. , equipment, like gloves and masks. , equipment, like gloves and masks. I,, masks. China heavily subsidises this and they masks. China heavily subsidises this and they produce masks. China heavily subsidises this and they produce more masks. China heavily subsidises| this and they produce more than the world can absorb and then they dump access products onto they dump access products onto the market at on fairly low prices, driving other manufacturers around the world out of business. Out of business. China has criticised out of business. China has criticised the out of business. China has criticised the plans out of business. China has criticised the plans and. Out of business. China has criticised the plans and vowed to take all necessary actions in response but since the import targeted represent less than 5 of total us imports from china, they carry more symbolic weight and can be a move to attract more voters, come november. Im joined now by an Associate Professor of california and san diego. What you make of this move . A 100 tariff on chinese made Electric Vehicles. That is hardcore, isnt it . , vehicles. That is hardcore, isnt it . Isnt it . It definitely is i definitely isnt it . It definitely is i definitely think isnt it . It definitely is i definitely think there isnt it . It definitely is i | definitely think there are isnt it . It definitely is i definitely think there are some president ial politics going on here. They were looking at looking at key products that would get headlines, and they wanted a number that sounded pretty serious, and i think 100 tariff on Electric Vehicles is about as serious as they can get. Vehicles is about as serious as they can get they can get. The president is sa in they can get. The president is saying he they can get. The president is saying he is they can get. The president is saying he is making they can get. The president is saying he is making a they can get. The president is saying he is Making A Stand. Saying he is Making A Stand against unfair competition or is this the us being protectionist . I is this the us being protectionist . Is this the us being rotectionist . ~ � ,. , protectionist . I think its a bit of both. Protectionist . I think its a bit of both. They protectionist . I think its a bit of both. They do protectionist . I think its a bit of both. They do make | protectionist . I think its a l bit of both. They do make a valid point that china has subsidised a lot of these industries, certainly electric vehicle batteries, vehicles, solar panels and solar cells and those products are being sold in the us and elsewhere at fairly low prices as a result. At the same time, some of this does seem to be quite protectionist. Many of these products already have high tariffs and the Biden Administration and inherited that from trump and that in place. What they are doing is an escalated of the trade wall escalation and that is likely to invite retaliation from china on any number of different products and i think thatis different products and i think that is in important thing from the Biden Administration. Isnt the Biden Administration. Isnt this act arguably the Biden Administration. Isnt this act arguably subsidising the green sector across the United States . Now were seeing europe making similar moves and the uk. Was china not massively ahead of the on this . I the uk. Was china not massively ahead of the on this . Ahead of the on this . I think that is a great ahead of the on this . I think that is a great point. Ahead of the on this . I think that is a great point. In ahead of the on this . I thinkj that is a great point. In fact, part of what is going on here is that the United States has put all the subsidies in place on those very products. Now because they distorted things in various different ways, they are also going to try to protect those sectors and the downside of that is that the subsidies are already costly, the tariffs will keep Prices Higher than they otherwise would be, which is likely going to be bad for consumers or anyone that will purchase any of these imports to make any things. Of these imports to make any thins. � ,. , things. Im being told, sorry, im things. Im being told, sorry, im being things. Im being told, sorry, im being told things. Im being told, sorry, im being told we things. Im being told, sorry, im being told we are things. Im being told, sorry, im being told we are out things. Im being told, sorry, im being told we are out of. Im being told we are out of time but going to be naughty, because i want one more answer, is china worried about this . Are they concerned about the us evs market, in terms of their future growth . Evs market, in terms of their future growth . They have very low market future growth . They have very low market share future growth . They have very low market share in future growth . They have very low market share in the future growth . They have very| low market share in the United States right now is the Immediate Impact i think is quite small. But they are probably concerned about it because they view it as a Growth Market and have been selling a lot of cars in europe and i think there would have planned to do so in the United States in the future. States in the future. Okay, thank you. States in the future. Okay, thank you, good states in the future. Okay, thank you, good to states in the future. Okay, thank you, good to get states in the future. Okay, | thank you, good to get your take on that. Staying with the us, because all eyes are on the latest Inflation Figures and last month prices and the biggest economy rose faster than expected at 3. 5 . In a sign inflation and the fight to stall that is not going so well, and as a result, the central bank of america, the Federal Reserve kept Interest Rates on hold at their highest level in more than two decades. They are in the range of 5. 25 and 5. 5 . Speaking on tuesday at an event in amsterdam, Jerome Powell said the central bank was looking at Keeping Policy at the current rate for a longer time than had been thought, due to persistently high inflation. Im packing this with the independent market analyst, craig l. Good morning. My cuts are really pricing in that rates will stay at this rate, is that the case . For at least a few months and hard to look in the future because if you look at how markets are behaved over the last year, i have been incredibly optimistic. We are now injanuary, markets are pricing in 175 basis points from the us and down to about half a percent now. Were talking much smaller numbers and it shows the insurgency that exists and that is what Jerome Powell alluded to this week when he said Interest Rates were much higher than what they thought they would be. Ultimately they thought higher Interest Rates would have a dampening effect on inflation then we have a ready seen. , inflation then we have a ready seen. ,. , seen. Today will get the latest numbers for seen. Today will get the latest numbers for the seen. Today will get the latest numbers for the us. Seen. Today will get the latest numbers for the us. Do seen. Today will get the latest numbers for the us. Do you i numbers for the us. Do you think we will see the rate of prices going up slowly or not . I think i will see that in the coming up month but they are expecting it to stay the same, inflation of 3. 5 as it has been for a number of months, which is normally double the Federal Reserve target, but what we want is is to see signs in the coming months that we can see inflation falling. At a faster pace. If we can start that, we may see policymakers and markets become more optimistic. And markets become more optimistic if youre watching yesterday you would have seen we were talking about the new chat but able to teach maths problems and now google has opened up its latest ai offering, and at its latest ai offering, and at its annual conference in california, google has been showing off ai tools interpreting information via images in fine camera, in videos and sound and spoken language. There was a demo warrant find someone lost classes, which is usefulfor me google are stressing its tools are capable at this so called multimodal understanding as its rival, openai. Imjoined by the understanding as its rival, openai. Im joined by the Chief Analyst of sonata insights. What did you make of the demonstration by google . First of all, it has been demonstration by google . First of all, it has been a demonstration by google . First of all, it has been a Big Demonstration by google . F st of all, it has been a big week for al what openai revealed yesterday really blew me away and what we saw from google today really shows that al is not just one feature, today really shows that al is notjust one feature, one service. Its not about going to a prompt box and typing in a prompt in getting a result. It is really becoming embedded in everything that google does, from search, to e mail, to mapping, to shopping, travel planning, finding glasses, as you mentioned the use cases for al are exploding what google is saying today is that al is more thanjust looking at ai is more thanjust looking at a chatterbox and figuring out and asking it to write a Bedtime Story for your children, which it can do also a problem. Children, which it can do also a problem children, which it can do also a roblem. ~. ,. , a problem. When i heard about this and when a problem. When i heard about this and when i a problem. When i heard about this and when i heard a problem. When i heard about this and when i heard the a problem. When i heard about this and when i heard the ai i this and when i heard the ai told the person with glasses are, i took a deep breath and i think for me, personally, im working and i have a very busy life, children, ido working and i have a very busy life, children, i do not have a personal assistant and very jealous of those who do. I thought that this could be it this could be the digital personal who ticks every box, mri . Is personal who ticks every box, mri . ,. ,. , mri . Is the vision of the future. Mri . Is the vision of the future, and mri . Is the vision of the future, and it mri . Is the vision of the future, and it is mri . Is the vision of the future, and it is building | mri . Is the vision of the future, and it is building what they are calling project astra, what you are talking about, an assistant that could be your trusted companion to help you book travel, notjust go around and find the best airline and flight all the times you should fly or order a car when you are landing, geta fly or order a car when you are landing, get a Dinner Reservation for the evening because it knows what type of restaurant you like. Plan your day the next day for all the activities you want to do because it knows the types of things you do. That is the vision of this kind of assistant. It is very powerful. Were not quite there yet but what google has been talking about is pretty remarkable. Were almost out of times just briefly, do you think google has the edge in the sense it is so prolifically used by so many people on so many levels already . People would naturally go down the google road. Or has openai got the edge . And openai, very cheeky do what they did, the day before googles calendar event, when they knew they would be talking about al. , ~. , about al. Very true what 0 enai about al. Very true what openai did about al. Very true what openai did not about al. Very true what openai did not do about al. Very true what openai did not do was. About al. Very true what openai did not do was launch a Search Product which many thought they would do. That is still to come. I pay a lot of attention in my research to Consumer Behaviour and you are exactly right. Google has a lock on so many, millions and millions of people who google thinks, it is a word, just like any other word, to google things, and google will use that to its advantage to get people more comfortable with al and to allow them to experience ai through googles lens. I think it has a powerful lens to do that. ,. , think it has a powerful lens to do that. ,. ,. , do that. Fascinating for me, who is a do that. Fascinating for me, who is a technophobe do that. Fascinating for me, | who is a technophobe thank do that. Fascinating for me, who is a technophobe thank you for your thoughts. Bringing you other business news, the justice bringing you other business news, Thejustice Department is bowing airlines could be prosecuted for the two deadly crashes, after a breach terms of settlement. Federal link investigators filed the letter annette dexter accusing bowing, and a settlement shouldered the company from federal Legal Proceedings for the crashes in ethiopian and indonesia boeing. The monthly Inflation Rate in argentina has fallen for a fourth month in a row, dropping to under in april. The president who took office in december said the figures showed as economic policies were succeeding. The president inherited a monthly rate of 25 and devalued the local currency and devalued the local currency and implemented radical public spending cuts. Still to come, it is out, the Film Industry has descended on the French Riviera r, and will be live in cannes shortly. You are with bbc news. You are with business today. India, and the Media Landscape has changed dramatically in the last decade since the bjp swept to power. There has been growing corporatisation with several National News channels once owned by independent media entrepreneurs, now controlled by billionaire tycoons. Analysis shows big money has squared out dissenting voices from tv news. Narendra modi is the only think this election is about. ~ ,. , about. The Prime Minister has lanauuae about. The Prime Minister has language or about. The Prime Minister has language or the about. The Prime Minister has language or the opposition. I language or the opposition. Indias Tv News Queens at night after night, dishing out flattering coverage of the Prime Minister. For long, and dtv was widely considered a loan, independent voice. Last year, it was snapped up in a Hostile Takeover by a billionaire tycoon. It Hostile Takeover by a billionaire tycoon. It would not be the billionaire tycoon. It would not be the channel billionaire tycoon. It would not be the channel that billionaire tycoon. It would l not be the channel that was. This journalist became part of a mass exodus as things became changing at the channel. You look at the changing at the channel. You look at the channel changing at the channel. You look at the channel to changing at the channel. Gm, look at the channel to date, it is a far more sympathetic to the government, far more hostile to the opposition. There was a series of Documentary Month after the takeover that was like an advertorial for the achievements of the Narendra Modi government. That achievements of the Narendra Modi government. Achievements of the Narendra Modi government. That a dunny urou modi government. That a dunny grouo denied modi government. That a dunny group denied allegations, group denied allegations, saying it operates with editorial freedom, saying it operates with editorialfreedom, impartiality and the highest ethical standards india has hundreds of channels and the opposition runs many regional ones but at the national level, most are owned or controlled by ruling politicians or select business barons. In pre election analysis of prime time coverage of some of the challenges, they had startling findings. Half of them had anti opposition themes. Over one quarter praise themes. Over one quarter praise the Prime Minister. Just 1 spoke on substantive issues like jobs and education. Spoke on substantive issues likejobs and education. This perceived bias has a direct link to how these channels are funded. A big chunk of the money that many of these Television Channels are earning is through government ads. Narendra modis government has spent over 700 million on print and tv ads in their first eight years in office. This person closely tracks the media. ,. , person closely tracks the media. ,. ,. , media. Large sections of Media Owners Today media. Large sections of Media Owners Today have media. Large sections of Media Owners Today have Business Owners today Have Business Interests in media and is difficult to have a news channel that questions the government, the very government they are working with in business. They are working with in business. ,. , business. The opposition says the media business. The opposition says the media is business. The opposition says the media is no business. The opposition says the media is no longer business. The opposition says the media is no longer asking| the media is no longer asking tough questions to the government. However, a government. However, a Government Advisor told us it was not the journalists job. All of this is a newfangled motion all of this is a newfangled motion of Holding Power to account, motion of Holding Power to account, interrogating power, speaking account, interrogating power, speaking truth to power, that is language for activists. As narendra is language for activists. Is Narendra Modi is language for activists. S zs Narendra Modi seeks is language for activists. Sis Narendra Modi seeks a third mandate, critics say the current tv landscape gives him a distinct advantage as big money appears to have squeezed out many independent voices. Singapore is swearing in a new promise to today are only the fourth time in its 59 year history. Lawrence wong will replace his mentor, who has stepped down after 20 years in office. Lawrence wong is an economist by training. Live now to singapore. Monica miller, tell us about this historic day. Tell us about this historic da. ,. , tell us about this historic da. ,. ,. Tell us about this historic da. , day. This is a historic day in singapore day. This is a historic day in singapore. Politically singapore. Politically speaking. What the financial and economic people will be looking at is if there will be any major changes in the space. We are looking at a lot of continuity. Lawrence wong is an economist, as you mention, by education. He is the current Finance Minister here but what he needs to do is he has big shoes to fill from the Prime Minister, he still sits in the seat for a few more hours. Singapore is one of the richest countries in the region. It is mainly a name for itself as a financial and manufacturing hub and long gone are the days when they were making hair wigs and coils for mosquitoes, and then semiconductors and manufacturers in aerospace as well as pharmaceuticals and so what Lawrence Wong wants to focus on now is as a rich country, it is an expensive place to live so many of the constituents, people here are concerned about that and also there needs to be concerned about the growing Population Thatis about the growing population that is experiencing, meaning there will be increases in taxes and the government will have to pay for healthcare and some other things of that nature. One of the other things that the Prime Minister has done well is balance of the act between the us and china as tensions continue to grow between these two superpowers. Singapore really depends heavily on both countries. As this develops, this is something Lawrence Wong will have to strike a balance for the next couple of decades. Thank you very much indeed. Heading to cannes where Industry Bigwigs have descended on the Redouane Lakdim three for the film festival. Meryl streep and the top award, presented by the president , ready to go weak. Films in competition get the red carpet competition, much of the industry travels to cannes to see movies that have nothing to see movies that have nothing to do with the festival and the reason for attending is to attend the Biggest International film attend the Biggest Internationalfilm market. Live now to cannes, speaking to the secretary of the film section of the uk critics circle. A jolly visit to cannes is hard to miss but why is this so important . To miss but why is this so imortant . ,. ,. ,. , important . Every festival has a market where important . Every festival has a market where people important . Every festival has a market where people go important . Every festival has a market where people go and i market where people go and discuss films in development, Treatment Status or looking for completion money or distribution. You have a whole flotilla of agents and distributors and other people here altogether to make deals. Thats the thing they say, cannes is the biggest market, 80 of the european or global independent, market films. To say that people come here to meet and greet and the idea is to striking a deal of finishing is something that cannes likes to do but doesnt actually happen. You come here to feel the way the deal will go may finish it here and solidify a deal you have already made. 50 deal you have already made. So thats interesting, made. So thats interesting, made. So thats interesting, made. So thats interesting, is where it starts back you are waiting to see how it ends. How are you impacted this year . Is it by Strike Action hour is that by the Me Too Movement . Nothing so far. The Me Too Movement . Nothing so far primarily the Me Too Movement . Nothing so far. Primarily from the Me Too Movement . Nothing so far. Primarily from agriculture far. Primarily from Agriculture Property on screens, about 100 people, at least 600 purely hospitality people here, the market is at the bottom, and we are aware this can happen but i have not seen any signs of it and i can say there are a lot of police and army out, i saw them marching on the street outside yesterday. They are ready for anything. Outside yesterday. They are ready for anything. Okay, how does that ready for anything. Okay, how does that feel ready for anything. Okay, how does that feel this ready for anything. Okay, how does that feel this year ready for anything. Okay, how does that feel this year in does that feel this year in terms of film, where it is out because had a few tumultuous years, thanks to the pandemic and Strike Action in hollywood . It affected a lot, and it feels it is mainly american this year. We have francis ford, apollo, Kevin Costner back with the first of a trilogy and meryl streep was celebrated yesterday and it feels very old school and retro, and a pushing a lot of cannes classics. And the weather is not great right now. Next week will be better. So far, the crowds have not pushed in yet. Always interesting. Pushed in yet. Always interestinu. ~. ,. , pushed in yet. Always interestinu. ~. ,. Interesting. We appreciate you nettina interesting. We appreciate you uaettin u interesting. We appreciate you getting on early interesting. We appreciate you getting up early for interesting. We appreciate you getting up early for us interesting. We appreciate you getting up early for us thank| getting up early for us thank you so much. And thank you also for your company. You are up to date on all things business and news. More on the website. I will see you very soon. If i dont, have a lovely day. Hello. We have some damp weather out there at the moment and rein in the forecast for wednesday and not an awful lot this is the outlook for the rest of the week, a mixed bag and some sunshine and scattered showers but at least it will be relatively warm. On the satellite, you will notice this well of cloud, an area of low pressure and this low pressure will stick around for the rest of the week. The overall river the pattern will not change an awful lot across the uk but there will be some regional differences from day to day. This is the morning, temperatures between 12 14 , at times wet weather from East Anglo Car east anglia and through the day, the best weather will be in the north of scotland, sunshine there in the highlands and temperatures up to 23 degrees, that is the exception but for most of us it will be 18th 20 celsius. With a low pressure not moving away anywhere, thicker cloud and at Times Outbreaks Of Rain From East Anglia and across Northern England and we will see some clear spells elsewhere. Thursday morning, the Weather Front in the same place, roughly, some glimmers of brightness between the layers of cloud but also some rain at times. Showers coming and going. Again, temperatures between 18 20 c. Friday, showers in different places in scotland, may be the north west of england and also further south, it should be brighter. Again, temperatures do not really changed. That area of low pressure is carrying the same atmosphere and the temperatures will not be changing. High pressure is starting to push in through the weekend but it will be a very slow process they do not expect major changes. Here is a summary for the rest of the week and the forecast into the weekend. Notice small northern parts of the uk fare better as we head into the weekend, with some sunshine on the way for belfast and quite warm. Goodbye. Good morning, welcome to breakfast with sally nugent and jon kay. Our headlines today. A major manhunt is under way in france, after gunmen kill two Prison Officers and free a prisoner in an armed ambush. No Sex Education for children under the age of nine, in new Government Proposals for schools in england. Delay, indecision and soaring costs Health Bosses criticise the governments Flagship Plans to build lio new hospitals in england. Rental properties are spending less time on the market before being snapped up despite higher rent costs. Ill be looking at why. One hand on the title, Manchester City beat spurs to lead arsenal heading into the final game of the season as aston villa celebrate qualifying for the champions league. European footballs top competition. For the first time in 41 years. Good morning. A swathe of cloud
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