Global markets in flux as trade war between China and US escalates

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• 00:03

  Hello and welcome to World Business Report from the BBC World Service.

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  I'm Roger Herring.

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  And on this edition, a final bump up for US share markets at the end of a week of turmoil over tariffs.

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  While the tariffs made trade between the US and China virtually impossible,

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  a former Trump adviser tells us it's part of the plan to put pressure on an economic enemy.

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  China is by far the worst trading partner in terms of countries out there where you see our small companies inventing products that then show up on Alibaba and then the small companies can't take any Chinese companies to court.

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  Also today, an agreement reached after almost 10 years to try to reduce polluting emissions from global shipping.

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  The UK Parliament is recalled to allow the government to control a Chinese owned company, British Steel.

• 00:55

  And as Gabon gets ready to elect a new president following a military coup,

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  can the Gabonese economy diversify away from oil?

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  But first,

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  the end of another week of strained faces and fast moves on Wall Street as investors struggle to keep up with the changing tariff policies from the White House.

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  Big falls at the start of the week, followed by record surges on Wednesday where most of the tariffs were suspended,

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  followed by red across the screens again on Thursday as the realisation of the economic damage set in.

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  So how was Friday?

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  Well, joining me now is Emily Peck, Markets Correspondent at Axios.

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  Emily, thanks for being with us today.

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  It was in the end, I think I'm right in saying a bit of a tick up.

• 01:39

  Yeah, great to be here, Roger.

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