:00:00. > :00:19.Now it's time for World Business Report.
:00:20. > :00:21.President Trump disbands his business councils,
:00:22. > :00:24.as American business leaders abandon him over his comments
:00:25. > :00:32.That's how Donald Trump has described the North American Free
:00:33. > :00:44.Trade Agreement, a pact between the US, Canada and Mexico.
:00:45. > :00:51.Also in the programme, Rico will talk us through some
:00:52. > :00:54.surprisingly strong economic data from some Asian economies.
:00:55. > :00:59.US President Donald Trump has closed down two
:01:00. > :01:05.This comes as several business leaders started walking away
:01:06. > :01:10.from the groups, in a reaction against the Preisdent's response
:01:11. > :01:12.-- President's response to the deadly protests
:01:13. > :01:16.Despite belatedly condemning the white supremacist and neo-Nazi
:01:17. > :01:21.Trump appeared to defend the rally's organisers.
:01:22. > :01:28.Samira Hussain reports from New York.
:01:29. > :01:35.It was the tweets that said it all. On Wednesday, Donald Trump disbanded
:01:36. > :01:42.to councils to bring jobs to America.
:01:43. > :01:55.But the move was more about saving face. I especially want to thank Ken
:01:56. > :01:59.Frazier. In a statement, Ken Frazier said he felt a responsibility to
:02:00. > :02:07.take a stand against intolerance and extremism. By Monday evening, their
:02:08. > :02:12.CEOs of Intel and UnderArmour, the presidents of the alliance of
:02:13. > :02:16.American manufacturing and others all left the council. They are not
:02:17. > :02:20.taking their job seriously as it pertains to this country. After
:02:21. > :02:24.commenting on the corporate resignations at a press conference
:02:25. > :02:29.on Tuesday, the president then blamed both sides for the deadly
:02:30. > :02:34.violence. You had a group on one side that was bad and you had a
:02:35. > :02:38.group on one side that was also very violent and nobody wants to say it
:02:39. > :02:42.but I will say it right now. After those comments, the exodus from the
:02:43. > :02:48.business councils was fast and furious. It is rare fur corporate
:02:49. > :02:52.America to publicly distance themselves from President of the
:02:53. > :02:56.United States but this is a different kind of administration and
:02:57. > :03:01.many believe Mr Trump crossed the line. These defections really show
:03:02. > :03:03.that corporate America is no longer waiting for Mr Trump to deliver on
:03:04. > :03:12.any of his pro-business policies. It's day two of talks to renegotiate
:03:13. > :03:14.the twenty-three year old North American
:03:15. > :03:17.Free Trade Agreement, or NAFTA, between the United States,
:03:18. > :03:20.Canada and Mexico. Talks to overhaul NAFTA,
:03:21. > :03:23.which President Trump had once vowed to tear up, will be watched closely
:03:24. > :03:26.by America's trading partners Currently trade between these three
:03:27. > :03:29.countries is worth about $1 But the US buys more goods
:03:30. > :03:43.and services from its neighbours than it sells to them,
:03:44. > :03:47.so has a yawning trade deficit - more than $12 billion
:03:48. > :03:49.with Canada and more than $55 Trump wants a deal that helps US
:03:50. > :03:54.firms sell more to these nations. NAFTA was born well before
:03:55. > :03:56.smartphones were around, so the US Trade team want any deal
:03:57. > :03:59.modernised for the digital While auto and farming industries
:04:00. > :04:03.traditionally have a big say in trade talks, the technology
:04:04. > :04:06.industry is ramping up efforts Tech firms want free flows of data,
:04:07. > :04:15.low tariffs as well as global With me is Professor David Collins,
:04:16. > :04:34.University of London. Does it need changing? We are now in
:04:35. > :04:39.the post-industrial age. We are seeing an increase in trade and
:04:40. > :04:45.services. We have the Internet now. This is an agreement that need to be
:04:46. > :04:49.renegotiated and Donald Trump is seizing a good opportunity to do
:04:50. > :04:55.this now. As America lost out as badly as it says? I don't think so.
:04:56. > :05:04.It's been great for all the countries. It doubled the trade that
:05:05. > :05:10.was taking place from the 80s. The idea there was this great
:05:11. > :05:15.expression. Ross Perot saying there would be the sound of jobs
:05:16. > :05:25.disappearing. That is a fallacy. The reason the job losses have been
:05:26. > :05:29.automation. It is not due to globalisation and not due to trade.
:05:30. > :05:34.Tearing up Nafta was never on the cards. It's a good opportunity to
:05:35. > :05:39.get it modernised. Let's look at what might be modernised.
:05:40. > :05:46.Technology, the yawning gap. E-commerce needs to be addressed.
:05:47. > :05:57.There needs to be increased market access for telecommunications,
:05:58. > :06:06.particularly in the Canadian market. That is done in much more of a
:06:07. > :06:14.cross-border manner. There would be the other issues such as data
:06:15. > :06:21.protection and data flows. Would it be easier to deal with? Some of them
:06:22. > :06:26.would be easier than others. Some of them will relate to data protection
:06:27. > :06:31.issues. There is a perception that the US is not great with that start
:06:32. > :06:34.a protection laws. There is a bit of nervousness on the part of Canadians
:06:35. > :06:45.having their darts are controlled by American companies. -- date. Canada
:06:46. > :06:49.has been reluctant to open up its telecommunication markets. Those
:06:50. > :06:58.will be interesting to watch. Thank you very much indeed.
:06:59. > :07:03.Rico Hizon is in our Asia Business hub in Singapore.
:07:04. > :07:09.Let's start with Japan which had trade figures out today.
:07:10. > :07:15.Very common -- from very promising, beating expectations. Exports rising
:07:16. > :07:26.for eight straight months, driven by a robust shipments. Speaking to
:07:27. > :07:30.economists, they say this could be a sign that the economy is showing
:07:31. > :07:35.increasing signs of strength with private consumption adding to this
:07:36. > :07:44.growth momentum. Total exports. Increasing by 13.4%. Exports to the
:07:45. > :07:50.US arising 11.5%. Shipments to the mainland gaining 17.6% mark in a
:07:51. > :08:08.ninth straight month of gains. Philippines, home, sweet home for
:08:09. > :08:18.you. It is one of the fastest growing economies. It is now growing
:08:19. > :08:22.at eight consecutive quarter. Already one of the world's
:08:23. > :08:26.fastest-growing, the Philippines has been boosted by strong domestic
:08:27. > :08:28.demand and planned spending on roads, railways and ports. Looking
:08:29. > :08:35.good going forward. Expectations are high for Alibaba's
:08:36. > :08:37.quarterly earnings report due Chinese consumers' demand
:08:38. > :08:41.for shopping online has made Alibaba Companies like Alibaba,
:08:42. > :08:45.Taobao and AliExpress. Alibaba is now building a brick
:08:46. > :08:49.and mortar presence as well Ryanair has accused Lufthansa
:08:50. > :08:57.and the German government of conspiring to carve up
:08:58. > :09:04.collapsed airline Air Berlin. Lufthansa is negotiating over
:09:05. > :09:06.buying Air Berlin planes, which are still flying
:09:07. > :09:11.following a 150m euro The German government rejected
:09:12. > :09:15.the accusation and said its support for Air Berlin did not
:09:16. > :09:29.breach anti-trust rules. There is an increasing feeling in
:09:30. > :09:33.the markets that it is going to be delayed, interest rates in the US.
:09:34. > :09:40.The Federal Reserve issued the minutes and it shows members anxious
:09:41. > :09:44.in holding operates until they had a clearer idea about inflation. Let us
:09:45. > :09:53.move on and give you an idea about how the markets ended. The dollar
:09:54. > :09:58.was the main casualty. Don't forget, you can get in touch with me and
:09:59. > :10:13.some of the team on Twitter. See you later.
:10:14. > :10:20.Alligator far too many older people are suffering in silence when things
:10:21. > :10:22.go wrong with their NHS care, the