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This is Business Briefing,
I'm Sally Bundock.
The Art of the Deal.
Trump's team says the US has struck
$300 billion worth of trade
and investment deals
during his Asian trip.
And President Trump's determination
to slash regulations for US business
is alarming many who worry
about pollution and public health.
And on the markets in Asia today,
shares fluctuate, a day
after Japan's main market
saw its biggest drop since April.
Five countries, nearly
two weeks, and billions
of dollars in deal-making.
Well, that is the line
from the White House and host
nations, as President Trump's
mammoth tour of Asia draws
to a close.
After all, the President
is known to be a deal-maker.
So much so, in fact,
that he has promised a major
statement on trade before
he arrives back in Washington.
That means the clock is ticking.
The White House is touting
the rather whopping figure of $300
billion in deals during
the President's swing
through the region.
The lion's share of that came
during his trip to China.
South Korea, Japan, and Vietnam make
up the remaining $50 billion-odd.
Mr Trump is still in
the Philippines, so we will hold off
on that figure.
But this is business,
and you have to pay attention
to the fine print.
So dig a little deeper,
and you will see that some of these
are memoranda of understanding,
MoUs, so more promises of agreements
to come, or they are deals that had
already been in the works for months
or even years.
All will need official approval.
With me is Professor Rajneesh
Narula, the John H Dunning chair
of international business
at Henley Business School.
What is your interpretation of the
Well, I think it is
public relations, really. These
deals were going to happen anyway,
and Trump's trip is just a bit of
icing on the cake, just to show that
he has done something. About $50
billion of the Chinese deal comes
from aircraft, from Boeing aircraft.
Another $40 billion is helicopters,
and that sort of thing. So these
things were going to go on anyway,
and there are short-term victories,
which is what Trump seems to
specialise in. There isn't anything
that is really long-term. There is a
big investment by JD, I think, in a
beef factory in Montana, but apart
from that, I don't think there is
much that wouldn't have happened
In terms of trade between
the US and countries in that part of
the world, what was achieved from
that point of view? Of course, the
United States removed itself from
the transpacific partnership. Talk
us through the trade deals from that
point of view.
That is the big news
from the trip. Trump's thunder was
stolen, as it were, by Trudeau, who
announced that they were going to
more or less edge on with the
transpacific partnership, rebranded
as a copper offensive and
progressive... It is in the title,
actually, those words --
comprehensive and progressive. They
will sign it by the new year.
US is missing out on that. During
his speeches, I remember his speech
in Beijing, he was talking about the
fact that we will look after
ourselves, we expect you to look
after yourselves, but we want to
talk bilateral trade. And he has
talked a lot about the Indo Pacific.
He is pivoting towards India, trying
to reduce China's influence.
the thing is, bilateral agreements
are a relic from the 1970s and
1980s. Ever since we have had the
WTO, the big focus has been on
making trade similar for large
groups of trade simpler for large
groups of countries. Trump is trying
to destroy Nafta. He seems to have
something against multilateral
agreements, but that is the way it
of the future. Even China has its
own One Belt, One Road programme,
saying we are the ones who are the
staple superpower and want to play
with everyone. And they make Trump
The Chinese economy is starting
to cool, and a slew of economic data
out earlier today confirms it.
Sharanjit Leyl has been
crunching the numbers.
Quite a few numbers to crunch,
actually, because industrial output
growing slower than expected, 6.2%
in October according to the National
bureau of statistics. Retail sales
was also out and claimed a slower
than expected 10% in October from
last year. I hear you say that is a
fairly decent number, but what is
interesting is, of course, in
industrial output the slowdown is
prompted by slowing property and
construction activity, and that is
two of the main growth drivers hit
by borrowing costs as well as
government measures to try and cool
a heated housing market and curb
industrial pollution, a massive
problem in China's major cities.
After this data we saw Chinese
stocks which had been at the two
year high, they actually retreated
from that two year high, following
the date. We saw a broader measure
money supply unveiled yesterday
after closed -- following that data.
All of this is starting to suggest
that China's economy is slowing
because of these measures the
government have put in place, though
nonetheless they are still targeting
annual economic growth of around
6.5% this year. Thank you for that
summary, in Singapore.
President Trump's pick
for head of chemical safety,
Dr Michael Dourson, has spent much
of his career helping businesses
fight red tape on the use
of potentially toxic compounds
in everyday goods.
The town of Hoosick Falls in upstate
New York has seen its water supply
contaminated with chemicals,
and people living there
are concerned at the prospect
of Dr Dourson taking up the role.
Michelle Fleury has the story.
This water looks safe to drink. But,
until recently, it wasn't. Emily and
her daughter Gwen have an incredibly
high level of total of the No Loc
acid, -- perfluoro acid.
no words for how I felt as a mother
and a person, I felt violated.
moved her family away from a
chemical plant near her old home
that cause the contamination.
that worse things happen around the
world, but never in a million years
did I think that living in the
United States of America I would
have to go to a dark, cold, dingy
basement to pick up water for my
Hoosick Falls is a small
town on the border of New York and
Vermont. For decades the region was
home to plastic factories that used
perfluorononanoic acid. It wasn't
until 2016 that the local water
supplies received filtration
systems. And the fight for clean
water continues all the way to
Washington, where some Hoosick Falls
residents travelled to make clear
their objection to the nomination of
Michael Dourson, Donald Trump's pick
to become the country's top chemical
regulator. Michael Hickey began the
fight to test Hoosick Falls's water
for chemicals after his father died
of kidney cancer. He made the trip
to Washington recently to speak out
against Michael Dourson's
The is the guy that big
companies will bring in to defend
them. He is not working for people.
He is working for big business.
the past, Michael Dourson has
advocated for chemical safety levels
much higher than is now considered
acceptable, at his nomination shows
a pattern emerging under the Trump
What we are broadly
seeing happen across the Federal
Government is that the formerly
regulated parties are becoming the
where Dourson will serve as
prioritising reducing what the
President Coles job killing
regulations. In Hoosick Falls, Emily
is considering the cost of that as
she looks for assurances that the
water in her home is safe for her
Now let's brief you some other
business stories: A judge in Brazil
has ordered a homicide lawsuit
against the executives of mining
company Samarco to resume.
21 people who worked for the company
are accused of being responsible
for the collapse of a dam, in 2015,
that led to the deaths of 19 people.
Shares of Barbie toymaker Mattel
have jumped by 20% on reports rival
toy giant Hasbro is
considering a takeover.
Hasbro, whose brands include
Play-Doh and My Little Pony,
are also higher.
Last month shares in both companies
fell, after a warning
that the bankruptcy of retailer
Toys"R"Us could hurt sales.
Goldman Sachs has written down
to zero the value of its stake
in the Weinstein Company.
The move comes as the Weinstein
Company looks for fresh financing,
after more than 50 women claimed
that ex-chairman Harvey Weinstein
sexually harassed or assaulted them
over the past three decades.
Weinstein has denied having
non-consensual sex with anyone.
And now, what is trending
in the business news this morning?
The markets ending with US shares...
We haven't got it here, but the Dow
up slightly at the close on Monday.
The news briefing is here in a