Nick Marsh

You need new markets to sell to.

You need to be able to sell to places like South America.

But then in return, that means cheap goods are going to be coming into Europe.

Historically, the EU has always wanted to support its farmers as much as possible, even though we're really talking about...

Two, three percent of European GDP depends on the country, of course.

But farmers historically have demanded this support because food is important.

Keeping prices stable is important.

But when you're spending so much on Ukraine, when you have tariff threats, you need to find new markets.

It's hard to find that right balance.

Hello, William.

Well, yes, it certainly is.

Their regular news conference, a foreign ministry spokesperson said that it welcomes the mutual cooperation between the United States and China, and that both sides would benefit from this move.

Well, it's not bad news for artificial intelligence in China, clearly.

Whether it's a game changer is hard to say, because there's an argument that the ban on high-end American chip technology being sold to China was actually the catalyst.

for the incredible strides that ai has made in china so the government realizes it can't rely on american tech so it goes for self-sufficiency you know it encourages chinese firms to find solutions and you know over the past what year two three years chinese ai really has come on leaps and bounds there is also the argument it has to be said and this is slightly more controversial but

There are reports that there are plenty of Chinese firms who are managing to get their hands on these chips, you know, these H200 chips, even in spite of the ban.

Now, that hasn't been verified independently.

All these things are quite murky, William.

But there are lots of reports that there are ways of getting around this ban, whether that's through third parties, or whether that's training artificial intelligence models outside of China, including in places like Southeast Asia.

So like I say, the Chinese authorities will be happy, Chinese firms will obviously be happy that they have access to this technology.