Escalation in tensions between the United States and china the trumpet administration on friday announced new measures to block shipments of semiconductors from chip makers to weiwei technologies in announcing the move the u. S. Commerce Department Said they would be changing the export rule to strategically target while ways acquisition of semiconductors that are the direct product of certain u. S. Software and technology adding the announcement cuts off while weighs efforts to undermine u. S. Export controls under the amendment to the rule Foreign Companies that keep that use chip making equipment originating in the us will be required to obtain a license before providing the chips to walk away or any of their affiliates earlier this week the us president and donald trump extended an executive order originally signed in may of 2019 which stopped u. S. Companies from using Telecom Equipment made by companies that pose a National Security risk now this order is now extended until may of 2021 the order has been characterized as a move against Chinese Companies like way and z t e. And to me while china is risk directing imports from australia some believe the move is a retaliatory measure against the Australian Governments support of an International Probe into chinas role in the corona virus pandemic arctic correspondent alex smile of edge as the story. Australia has been hit by chinese trade suspensions and analysts say they know why all street is trying only to d use. Its d very its going to fall trying. To mult a states course so thats why now we just have to do something. Echoing the us australia is calling for an International Investigation into the origins of covert 19 questioning chinas transparency surrounding the outbreak of the virus some analysts believe china is striking back by banning australian imports both governments however deny the claim and say the beef is about something completely different. Chinese customs on that multiple badges that are only products exported to china by certain Australian Companies in violation of the election in quarantine requirements 2 of them were jointly determined by the competent authorities of both an order and we have a well this is obviously a. Difficult time as we do with one particular sit and try to issues that we like to do a dumping as well as the what is effectively the administration around a belief in exports to china whatever the reason behind the chinese trade barriers the land down under will likely feel the pain chinas australias largest trading partner over a 3rd of the countrys exports went to china in 2017 as for imports australia brings in more goods from china than anywhere else in fact australia is known to be one of the most china rely. Developed economies in the world at the center of the current trade battle is beef 80 percent of australias goes to china up barley is also on the hit list china confirmed it is ready to impose a devastating tariff of just over 80 percent on australias barley exports due to anti dumping allegations chinese restrictions could do a lot of harm to the industry since china buys nearly 50 percent of australias barley exports the Australian Government believes other agricultural sectors could be at risk including wine dairy and seafood in all 28 percent of all of australias Agricultural Products are exported to china however its not a one way street a 5th of chinas barley comes from australia in fact australias chinas if the biggest supplier and that includes goods that are critical to chinas energy and manufacturing sectors australias largest exports to china include cool iron ore and natural gas worth 80000000000. 00 a year. When it comes to iron ore chinese steel mills or engineer to take particular blends that are strictly a supplies that along with the reality that there are a limited number of competitors some of the resources unlikely china would shift away to other suppliers and while they keep pushing for a china investigation the ozzies are banking on that we draw a very clear lines about things that are very important to us as does the Chinese Government and we respect their loans as we expect allies to be respected australia continues to insist on a china related covert 19 investigation while at the same time calling for treetops with china so far china is not answering the phone and if the issues arent resolved australia might have to brace itself for a severe economic follows. And for more on these increased tensions with china were joined by boom bust cohost christine thanks for being with us as always i the 1st question when we look at all that data that weve just received from alex there how reliant is australia on trade with china. Mention the heavily heavily relied because china is by far australias it is export market and pretty much a 3rd of exports by value so as i just mentioned not only does this include Agricultural Products like the parly also 80000000000. 00 in iron ore and 20000000000. 00 in coal and natural gas exports so in 2823000000000. 00 in goods and services to china which is about 7 percent of g. D. P. So now these new trade barriers erected around specifically bar that are concerning for australian farmers who are now forced to kind of diversify and look to expand into other asian markets such as south korea and japan but obviously to the population the demand cannot be replaced from china that means like so a very interesting quote from the a c n p read that australians diplomacy might be a bit naive by playing hard with china the us gets the canned. So this entire dispute might actually paid the way for it to increase chinas beef and marley purchases from the us instead of australia in order to further help me its purchase obligations on the space on trade deal and it seems as if china when one door closes for china another door seems to always open we saw that with the us and sawyer i believe it was brazil who ended up sending quite a bit to sawyer after we had those issues so i want to mark your place like that. Thats all i want to do to bring up the 1st story we did today the u. S. Has escalated its bout battle against walk away again whats going on here. Well the german ministration announced new export restrictions friday to further cut all Telecom Giant huawei from the overseas suppliers so it seems like now that this mass panic over the coronavirus has died down the u. S. Wasted no time in picking up exactly where things left off which threatens to ignite a whole new round of u. S. China tensions so this new restrictions stopped shore and semi manufacturers whose operation used u. S. Software and technology from shipping products to while away without 1st getting a license from u. S. Officials so this is actually gives the u. S. Commerce department a veto over the kinds of technology the hallway can use which is again just like what we said on thursday that u. S. Courts are having distribution of telegrams globally it sets a very dangerous precedent for the u. S. To flex its powers to control what can or cannot be distributed outside of the u. S. So now under these new rules the department can essentially block the sale of semi is manufactured by taiwans i mean Manufacturing Company located in taiwan as it uses cern u. S. Chip making technology so now think about it if youre you if youre a Company Based in say india and you want to use American Technology to manufacture a small portion of the full stack and of course are also paying for the right to use that technology but now because that one tiny portion that now makes you subject to the u. S. For who you can or cannot sell to even though youre not even a u. S. Based company so at that point it doesnt really make sense and the u. S. Is now flexing its muscles globally in order to have in order to control detect technology to china you know kristie quickly we got about 30 seconds left of the segment but how is china actually expected to retaliate to the situation. Well as weve seen from what happened last year any move against law which is the crown jewel of beijing being mistreated will result and challenge for the action which could include things like another bout of the care for but also china could also activate the unreliable entities and the huge target right now in china could suspend the purchase of boeing planes the only another major blow to the already struggling company so all 4 names are down massively this morning because of it and really boeing can take another hit as well after all the issues that theyve had not only with the pandemic but obviously the 737 max crisis who must cohost kristie i thank you for breaking that all down for us. Global markets are all down on the weak as oil surge 3 percent its highest level in more than a month still Market Sentiment is low after the latest flare up between the u. S. And china over the trump administrations move to block Semiconductor Shipments to while away technologies are at lets start in russia where the ex is in the red for the week a trend you will see in every market coronavirus cases are still rising in the ruble and russian Treasury Bonds hit record highs on friday as oil prices surged but it still wasnt enough to push markets into the green in russia for the week moving over to asian markets all 3 in the red as we talked about the shanghai composite is just slightly in the red however with very little change the week data released on friday showed chinas industrial output is bouncing back and rose 3. 9 percent year over year for the month of april in hong kong the hang seng also down in the week and the with us russia u. S. China tensions rather on the rise and potential tariffs on the table hong kong is watching ages financial hubs a 1st quarter g. D. P. Drop of 8. 9 percent in advance reading this week the worst on record theres also concern that what the virus subsides protests may return now in japan the nikkei is following similar trends with this 1st weekly loss in 3 weeks Investor Sentiment took a hit again on deteriorating relationships between the u. S. And china and the possibility of another trade war lets move to india where the sensex is also down on the week down 17 percent for the last 3 months now although Telecom Major air tell saw the biggest gains on friday up nearly 3 percent not a good week in india shares in australia are also down for the week the a. S. X. Tumbled and saw its biggest drop since may 1st concerns about the u. S. Economy and april 600. 1000 jobs were wiped from australias economy and on friday the index did see some gains with major minor b. H. P. Shares jumping more than 3 percent moving to south africa the j. S. C. All share is following the same trend down for the week now lets take a walk over to the other side of the studio and take a look at europe and the americas now its more of the same in europe with the 3 major indices down for the week were to star in france with the cac it was up all 100 friday but it still wasnt enough to make up for the losses now the german dax also down but saw some gains early friday of 11 percent on signs of a recovery in china which helped boost sentiment now that didnt last as the index remained volatile throughout the day europes largest economy saw its sharpest quarterly decline german g. D. P. Shrank by 2. 2 percent in the 1st quarter compared to the final 3 months of 2019 now in the u. K. The footsie 100 is on trend down for the week as the index saw gains on friday as a quad back some of thursdays major losses miners jump between 2. 0 and 3. 4 percent on friday alone lets cross the atlantic to brazil for the best is also in the red this week now Brazil Central Bank said g. D. P. For march fell by 5. 9 percent the government now expects the economy to shrink by 4. 7 percent this year this would be the largest drop since 1900 when it became began recording that data lets move north to mexico the b. M. V. Is also down on the week as the country sees its peak of coronavirus cases the country plans to reopen its auto construction mining and mining sectors by monday despite record deaths and then going into the u. S. All 3 major indices in the dow s. And p. And nasdaq are down on the week as u. S. Retail sales tank 16 percent in april alone the dow saw the dow actually had its worst week since late. Arch apple qualcomm and boeing all saw declining prices this week and lets finish it out in canada the t. S. A. Finished in the red despite seeing some gains in the Energy Sector which climbed 1. 4 percent while u. S. Crude prices jumped 4. 2 percent a barrel as data continues to come in showing the Economic Impact of the pandemic were going to keep an eye on the volatility within World Markets which is what we are seeing and that is your Global Market walk. And time now for a quick break but hang here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and its a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close. You cannot be both with the yet you. Chose seemed wrong. When old rules just dont hold. The world to get to shape out just because to educate and in detroit because betrayal. When so many find themselves worlds apart we choose to look for common ground. Good food descriptions sound up to tell using even for the owners so how to choose the pet Food Industry is telling us what to feed our pets really more based on what they want to sell us than was necessarily good for the pet turns out pet food may not be as healthy as people believe and we have animals that have you know diabetes and arthritis and they have auto immune disorders theyve got allergies we are actually creating these problems its a huge epidemic of problems all of them i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets streets the larger corporations are not very interested in proving or disproving the value of their food because theyre already making a 1000000000. 00 on it and theres no reason to do that research. And welcome back the coronavirus continues to sweep across the globe at some nations are beginning to reopen their economies following a walk down measures for a closer look on where the globe stands on infections we turn things over to our to correspondent side to average or. Brand lockdown around the country have been lifted in almost every state and businesses are almost universally reopening under restrictions such as allowing fewer customers or crime workers and customers to wear a mask and enforcing a social this today this than saying so right now a handful of states remain on lockdown with state home orders in places and most businesses still closed but lets take a look so illinois and delaware all still have stay at home orders in effect until may 31st and those are the red states now michigan on the other hand will open on may 28th then we have new jersey whos going to open up a little bit later on june 5th while d. C. Right here is set to open the latest on june 8th then we have the states that are opening soon which are the states in blue by made between may 18 and 20 of now its not yet clear whether dos states will extend their stay at home orders which will all depend looking at new cases and deaths next week the same time the restrictions are to be lifted then we have seats that are reopening in some areas and those are the ones in orange do you see right here which means governors are allowing counties or regions that meet criteria for slowing the outbreak to open ahead of others meanwhile the hardest hit areas in those states are to remain under Strict Lockdown that a great example of that is new york which has been hit the heart is so red areas like new york city are likely to open to much later then we have states that are just a reopening you see all the ones in green which means businesses are almost universally reopening but there are restrictions allowing fewer customers requiring workers and customers to wear masks and enforcing social distance and now the states that are reopening for the most part are said to be open. By me 18th adelaide is and brand all of these reopening is right here have come even as the c. D. C. Is warning that reopening too soon might trigger and nother uncontrollable outbreak but moving over to europe. Where countries are determined to put. Back on a map for the summer so if so while heres a list of countries that have already ease restrictions for their citizens and which the restaurants museums and retail open but a europe is different that the u. S. And different in the u. S. Because the e. U. Is really dependent on tourism between the countries for example germany represents 30 percent of the annual tarus in our history so the turn of germans marks an Important Role to recovery for austria so while this long list of countries are no longer on their Strict Lockdown they are still working on opening our borders between the e. U. As to 9 europeans with the e. U. Travel ban on foreigners now extend it until june 15th very few airlines are flying and travel advisories worldwide is warning against all International Travel now the chance of visiting the euro before fall is iffy now also looking at industry thats been hit really hard so far few industries have been hard as badly as tourism now this is the impact of the pandemic on the airline then this represents just the airlines now for example if you look in europe they have lost an estimated 76000000000. 00 on Airlines Latin America has lost about 15000000000. 00 middle easts 19 a just pacific 88000000000. 00 africa 4000000000. 00 and north america 50000000000. 00 so brant taking a snapshot of the tourism losses in. Its really difficult because the data changes as quickly as it spreads but at the