BBC World Business Report: WTO lets China impose tariffs on the US

January 26, 2022

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The World Trade Organisation has authorised China to impose retaliatory duties on US imports to a value of more than 600 million dollars per year. Beijing had challenged American tariffs levied on Chinese exports ranging from solar panels to steel wire – goods made by companies that Washington insists are effectively enjoying state subsidies. David Firestein – President of the George H. W. Bush Foundation for U.S.-China Relations – explained the background.

Despite the potential Ukraine conflict, Italian business leaders have met President Putin. The virtual meeting with the Russian president went ahead amid calls from Italy’s government for it to be scrapped. We explore Italy’s commercial ties to Russia with Vincenzo Trani, chairman of the Italian-Russian Chamber of Commerce, who was on today’s call. And we get Ukrainian business reaction from Dmitro Shymkiv, executive chair of Darnitsa, which is the country’s largest pharmaceutical company.

Plus, who should own a football club? It’s no surprise to anyone that money talks in English football – but lately it seems louder than ever. Famously – or notoriously – Newcastle United is now owned by the Saudi Public Investment Fund. Hollywood stars Ryan Reynolds and Rob McElhenney are the unlikely owners of Wrexham FC – which competes in the 5th tier of the English football league system – even though Wrexham is in Wales. So is private ownership the best way to run football clubs – or is it time for a rethink?