Browse content similar to 16/01/2017. Check below for episodes and series from the same categories and more!
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Taking aim at BMW, the President-elect threatens | :00:00. | :00:16. | |
the German carmaker with huge tariffs, as he reveals more | :00:17. | :00:18. | |
about his plans for the world's biggest economy. | :00:19. | :00:24. | |
And we take you to Silicon Valley, to find out what the world's biggest | :00:25. | :00:27. | |
players in technology are doing to get ready | :00:28. | :00:30. | |
We will also have more on that story just mentioned, an arrest warrant | :00:31. | :00:55. | |
issued for the de facto boss of Samsung. | :00:56. | :00:56. | |
The US President-elect, Donald Trump, says he will offer | :00:57. | :00:59. | |
Britain what he calls a quick and fair trade deal within weeks | :01:00. | :01:02. | |
His comments come just days before a speech by the UK Prime Minister, | :01:03. | :01:06. | |
Theresa May, where she is expected to reveal further details | :01:07. | :01:09. | |
of the country's strategy as it prepares to leave | :01:10. | :01:12. | |
Speaking to the Times newspaper, Mr Trump said his team would work | :01:13. | :01:19. | |
very hard to get it done quickly and properly, | :01:20. | :01:21. | |
Mr Trump went on to say the UK had made the right decision in leaving | :01:22. | :01:28. | |
the European Union, and that further countries were likely to follow | :01:29. | :01:31. | |
Meanwhile, in a separate interview with the German newspaper Bild, | :01:32. | :01:34. | |
the US President-elect threatened BMW with a 35% border tax for cars | :01:35. | :01:37. | |
Last week the German carmaker said it was committed to its plans | :01:38. | :01:46. | |
to open up its new factory in San Luis Potosi, | :01:47. | :01:48. | |
despite Mr Trump's persistent warnings. | :01:49. | :01:56. | |
Dr Brian Klaas is a fellow in comparative politics | :01:57. | :01:58. | |
Good morning. Good morning. There is so much to talk about. He had a lot | :01:59. | :02:10. | |
to say in that interview. Let's start with the tariffs on BMW, to | :02:11. | :02:15. | |
begin with. What do you think BMW is thinking about that, and is it | :02:16. | :02:20. | |
likely to happen? There are two backsides to the story. One is | :02:21. | :02:23. | |
whether it will happen. I think Senate Republicans will put up | :02:24. | :02:27. | |
barriers, when many of them believe in free trade. The second aspect to | :02:28. | :02:32. | |
the story is how this will play for US manufacturers. America is a | :02:33. | :02:35. | |
global player in the economy as well so is there going to be a | :02:36. | :02:38. | |
retaliation from other countries if Trump tries to pursue this policy of | :02:39. | :02:42. | |
punishing individual car makers for their decisions to allocate their | :02:43. | :02:46. | |
resources as they best see fit. It is interesting, because we saw Ford | :02:47. | :02:56. | |
and Fiat-Chrysler say they would perhaps put on the backburner their | :02:57. | :03:00. | |
plans to move to Mexico. It is interesting how businesses worldwide | :03:01. | :03:02. | |
are having to react to this President-elect. His tweets, his | :03:03. | :03:06. | |
comments, his interview last night. It is, in the words of the president | :03:07. | :03:11. | |
really matter and send clear signals but one thing that is troubling is | :03:12. | :03:15. | |
that Trump and signalling very clearly that he will choose winners | :03:16. | :03:19. | |
and losers in the economy. That is not good for the economy because you | :03:20. | :03:23. | |
have uncertainty, rather than waiting for that last tweet to | :03:24. | :03:29. | |
determine where to invest. Interesting to see what he had to | :03:30. | :03:35. | |
say about Brexit, about the US, UK trade relationship and Michael Gove | :03:36. | :03:38. | |
being part of the interviewed him, as it were. Which is interesting. | :03:39. | :03:42. | |
Give us your take on that. He seems to say that it will happen quickly | :03:43. | :03:46. | |
and smoothly but in reality that is often not the case. I think the US | :03:47. | :03:50. | |
UK trade deal would certainly be good for Britain but we have to put | :03:51. | :03:54. | |
it in context. First up, written and the US are not the largest trading | :03:55. | :03:57. | |
partners. Written has most of its trade going to Europe and 10% or 15% | :03:58. | :04:01. | |
going to the United States so this will not be a huge game changer for | :04:02. | :04:06. | |
the United States. But it is still good news. However, how quickly can | :04:07. | :04:09. | |
get done? Most trade deals in the past have taken between four and | :04:10. | :04:13. | |
eight years to actually ratify and put effect. Nafta took four years, | :04:14. | :04:20. | |
the DPP took eight years. The idea that there would be some quick | :04:21. | :04:26. | |
policy change is unlikely -- TPP. Theresa May doing a speech on Brexit | :04:27. | :04:39. | |
this week, and the markets reacting. But on China, Trump called it not | :04:40. | :04:44. | |
free trade but there are or smart trade. Give us your take on these | :04:45. | :04:48. | |
comments. I think Trump and signalling he wants to drastically | :04:49. | :04:51. | |
shift trade policy but Trump doesn't get to do this alone. So Trump is to | :04:52. | :04:55. | |
find common ground with establishment figures both in the | :04:56. | :04:57. | |
Republican and Democratic Party but particularly the Republican Party | :04:58. | :05:01. | |
and many of them are the most hawkish on free trade, particularly | :05:02. | :05:04. | |
in the Senate. So the idea that Trump will come in and change trade | :05:05. | :05:07. | |
policy alone is not true. I think the US presidency often gets blamed | :05:08. | :05:11. | |
too much for the economy and gets too much credit for the economy. It | :05:12. | :05:15. | |
doesn't exist out of Trump's hands and it is something where he will | :05:16. | :05:19. | |
have an influence on it, but he is not going to dictate it. Thank you | :05:20. | :05:24. | |
for your time, lots more on that story on our website. | :05:25. | :05:26. | |
Staying with the US and Donald Trump, and we assess how | :05:27. | :05:29. | |
the vast US technology industry is preparing for the new president. | :05:30. | :05:32. | |
It forms a huge part of the US economy, accounting for just over 7% | :05:33. | :05:36. | |
of the value of goods and services produced there in 2016. | :05:37. | :05:39. | |
Our technology correspondent Rory Cellan-Jones has been | :05:40. | :05:41. | |
to San Francisco to find out what the tech sector thinks | :05:42. | :05:44. | |
San Francisco, in effect the capital of Silicon Valley and the epicentre | :05:45. | :05:54. | |
of the technology industry. Looming over everything right now is the | :05:55. | :05:58. | |
prospect of a president the majority of Californians did not vote for. | :05:59. | :06:03. | |
One tech firm, the memory of his election still hurts. It felt like | :06:04. | :06:08. | |
someone died in the family. It felt like 9/ 11. Everyone was in shock. | :06:09. | :06:13. | |
We are kind of in a bubble in the tech industry. We thought Hillary | :06:14. | :06:17. | |
was for sure going to win and the next day Trump wins, and you have to | :06:18. | :06:22. | |
wonder, what is the rest of America like? This company's owner, Michael | :06:23. | :06:26. | |
Birch, arrived here from the UK but is now an American citizen and | :06:27. | :06:31. | |
trying to be positive. One thing that Silicon Valley certainly is is | :06:32. | :06:35. | |
very innovative, so in the face of what is happening with Trump, I | :06:36. | :06:39. | |
think we will innovate around it and find a way to go forward. During his | :06:40. | :06:44. | |
campaign, Donald Trump was exactly friendly to the tech business. What | :06:45. | :06:48. | |
I think you want to do is boycott Apple. And his positions on | :06:49. | :06:51. | |
immigration and trade caused concern in this globalised industry. But | :06:52. | :06:56. | |
there is an upside. Like a number of tech giants, Apple has one good | :06:57. | :07:00. | |
reason to be optimistic about Donald Trump. He could offer them a deal to | :07:01. | :07:03. | |
bring billions of dollars of cash held overseas home at a favourable | :07:04. | :07:08. | |
tax rate. But the price of that could be increasing pressure to | :07:09. | :07:11. | |
build the iPhone in the United States rather than China. If he can | :07:12. | :07:18. | |
maintain the cost for the consumer, sure. But I don't think that's | :07:19. | :07:23. | |
possible. I think it will be great. The more the merrier, for being in | :07:24. | :07:29. | |
America, being made in America, yes. Whatever their reservations about | :07:30. | :07:34. | |
him, the bosses of Apple and cluster of other tech giants had profitable | :07:35. | :07:39. | |
meeting with him. America's most dominant technology journalist says | :07:40. | :07:44. | |
they should be far more robust. I think they have to be outspoken in | :07:45. | :07:48. | |
ways they have not been comfortable being outspoken before, on issues of | :07:49. | :07:51. | |
privacy, immigration, encryption. All kinds of things that have been | :07:52. | :07:56. | |
very important to their employees. These are the most powerful people | :07:57. | :08:00. | |
on the planet, and the richest as well. So they have nothing to fear | :08:01. | :08:05. | |
by expressing themselves. At the tech industry's big hope is that the | :08:06. | :08:11. | |
new president will come to see that it is going to underpin America's | :08:12. | :08:14. | |
future prosperity, and let it get on with the job. | :08:15. | :08:15. | |
Shares of Japanese airbag maker Takata are tumbling, | :08:16. | :08:17. | |
after they announced a deal with the US government. | :08:18. | :08:24. | |
The company pay $1 billion and plead guilty to criminal wrongdoing over | :08:25. | :08:27. | |
the airbags, which have been linked to multiple deaths. | :08:28. | :08:29. | |
Shanijit Leyl is in Singapore for us. | :08:30. | :08:33. | |
Nice to see you. What is the detail? Well, the details are that those | :08:34. | :08:42. | |
shares are down over 10%, and that is, bear in mind, after soaring more | :08:43. | :08:47. | |
than 16% on Friday ahead of that announcement you just mentioned. The | :08:48. | :08:51. | |
fact that US officials saying on Friday Takata had essentially agreed | :08:52. | :08:56. | |
to the settlement over the defect involving its exploding airbags, | :08:57. | :09:00. | |
which were behind as many as 16 deaths and led to the recall of more | :09:01. | :09:06. | |
than 100 million airbags worldwide. The US also indicted three former | :09:07. | :09:11. | |
Takata employees, bringing the first criminal charges in the scandal. It | :09:12. | :09:16. | |
has caused the auto industry's biggest safety recall. Analysts are | :09:17. | :09:19. | |
essentially saying that this agreement may be one step forward | :09:20. | :09:24. | |
for Takata, but there are still lots of concerns over the fact that the | :09:25. | :09:28. | |
company hasn't shown when and how it would restructure its company, or | :09:29. | :09:33. | |
pay off its many liabilities. There has been some speculation that they | :09:34. | :09:38. | |
could go bankrupt. Takata has been in talks with potential buyers who | :09:39. | :09:42. | |
are evaluating all its many potential liabilities as well. We | :09:43. | :09:47. | |
are watching that stock, currently down over 10%. On the other big | :09:48. | :09:52. | |
story coming out of Asia today is the special prosecutor in South | :09:53. | :09:54. | |
Korea seeking an arrest warrant for the head of the Samsung group, for | :09:55. | :09:59. | |
his role in a corruption and influenced peddling scandal. HY Lee | :10:00. | :10:04. | |
is accused of bribery in connection with the National pension service, | :10:05. | :10:08. | |
supporting the merger of two Samsung affiliates. It is said he paid | :10:09. | :10:16. | |
bribes totalling 40 billion yuan, that is to a friend of President | :10:17. | :10:23. | |
Park, at the centre of an escalating corruption scandal. The pound | :10:24. | :10:27. | |
sterling on the way down against the dollar, 1.6% versus the dollar since | :10:28. | :10:31. | |
it was reported in the Sunday Times about what the Prime Minister will | :10:32. | :10:36. | |
have to say in her speech this week about Brexit, it would seem a hard | :10:37. | :10:44. | |
Brexit is what is expected. Asian shares falling across the board with | :10:45. | :10:48. | |
a much weaker dollar against currencies such as the Japanese yen. | :10:49. | :10:50. | |
I will see you soon. Northern Ireland's devolved | :10:51. | :10:58. | |
Government is set to collapse today, after Sinn Fein insisted again | :10:59. | :11:00. | |
they would not replace Martin McGuinness as Stormont | :11:01. | :11:02. | |
deputy First Minister. Our Ireland correspondent | :11:03. | :11:04. | |
Chris Page reports. | :11:05. | :11:13. |