Skip to main content

tv   Business - News  Deutsche Welle  March 23, 2018 6:15pm-6:30pm CET

6:15 pm
how well to the fastest lap time in melbourne the britain was or has his sights rather set on fifth drivers' title this season red bull pilot max was his closest challenger ahead of saturday's qualifying. good luck to all of them out there and with that you're up to date on your news after a short break helen humphrey has more. where i come from we have to fight for a free press i was born and raised in a military dictatorship with just one t.v. shadow and a few newspapers one official information as a journalist i have worked on the streets of many candidates and their problems are always the same fourteen source an inequality a lack of the freedom of the press. corruption who can afford to stay silent when
6:16 pm
it comes to the defense of the humans and see the right to fools who had decided to put their trust in us. my name is jane paris tonight part. of. this is your business update i'm helena humphrey in berlin good to have you with us a stay of execution for the european union but true to his word when it comes to china u.s. president donald trump announced yesterday plans to hike tariffs on china to the chain of sixty billion dollars a year that the e.u. was granted a temporary x. exemption all the same global markets have been sliding all day as fears of a global trade will grow with trump calling china america's economic anomie
6:17 pm
the tariffs will hit more than a thousand categories of chinese goods the identities of which are to come later according to president trump it was past time for china and other countries he believes have treated the us unfairly to be called out we're doing things for this country that should have been done for many many years we've had this abuse by many other countries. and groups of countries that were put together in order to take advantage of the united states and we don't want that to happen we're not going to let that happen yet while china's treatment of intellectual property has angered many critics say the focus on the trade balance and on reciprocity is misplaced trump's approach has also been scattershot the steel and aluminum tariffs set to take effect today were aimed at china but poised to hurt traditional allies like the e.u. even more trump seems ok with that indeed he says he's only just begun. we are just starting
6:18 pm
a negotiation with the european union because they really shut out our country to a large extent they have barriers that they can trade with us but we can trade with them they're very strong berries have very high tariffs we don't it's just not fair in other words more trade tensions in the days to come. full analysis i'm joined in the studio by michael but economist at the humboldt university great to have you with us as well as linda hall correspondent in singapore also on the line thank you very much to both of you firstly to you michael we're seeing this ratcheting up of tensions between the united states and china it's now official with making the announcement regarding those tariffs what can we expect the fallout to be because it seems that the european union is very much in the middle of all of this the u.s. and the first instance exempted from this action but by may first will be decided whether or not they have to face the same conditions and i think president trump
6:19 pm
trying to put pressure on the european union to maybe make a few concessions or make some move some gesture to improving the trade situation with the united states do you think the e.u. will be able to come up with something what do you think that it could potentially put on the table there's a lot of discussion whether some of the old teach of discussion should be your old tariff situation needs to be rectified both sides can complain i think there is some gain for discussion but not again from a trade war all right well over to singapore then talking about a trade war and the potential for take it for tat moves what can we expect to happen now with regards to china what do you think that they will now day. well china says yes plenty of measures to fight bag areas of. in pods so i've been through all the electronic chips and spies don't forget you know china is h.-u. the largest manufacturing base for some of the largest our u.s. electronics companies such as apple as well as intel and of the u.s.
6:20 pm
also has traits up last surprisingly in the small area of every culture and that's where china presence d.t.p. is actually are hitting at it's actually launch a probe into u.s. exports of soybeans saw them and is studying ways to restrict shipments also have been coming into the country and these are target and other crops that mr trump's support and some politically important farming states and china can quickly also throw out non-tariff obstacles to trade such as stepping up safety inspections and the people were essential for goods and to the country so these are some of the tit for tat things that china could do to the u.s. to get back all right linda was just talking them michael about some hot rhetoric from china towards the united states do you think that will work do you think that somehow there will now be the ability to close what is
6:21 pm
a sizable trade gap well there's a there are some complaints on both sides the united states complaining about the highly subsidized production of steel in the overcapacity which is lead trying to export to very low prices if the united states does this this is going to be a spillover effect on the european union and i think we should see concerns here as well i think both sides need to return to the gushing table and try to conceive on both sides otherwise for the consumers can be bad news that is certainly sounds like the sensible approach linda over to you then because we've just been talking about the fallout for the consumer as well it's not just about the united states the european union and china what about other countries in the region where you are how they affect it. that's right you see there's also announcements about steel and alum union imports as well and that affected japan as well the south korea and don't forget we were talking about tit for tat and now that the wools our largest
6:22 pm
economy is taking back in stance on free trade what else is going to happen next and then don't forget also we are also seeing a highly globalized global economy dependent on very complex global supply chains so that it's at in that self that actually affects small businesses in ways that the headlines current the don't really talk about much for now our correspondent linda hong for us in singapore and here in the studio with me michael but at the economist at the humble university here in berlin thank you very much see both your analysis. will tariffs on u.s. imports would not only hit foreign trade partners but could also backfire for u.s. companies take the firm we visited in detroit it relies heavily on overseas supplies so slapping them with levees would not only threaten the success of the business but also detroit's way out of a financial crisis. detroit the motor city known for its manufacturing and innovative spirit. tunisia hubbard works on the assembly line of
6:23 pm
the show and all the factory building watches. before this job she worked on another assembly line in the auto industry she thinks her job which i know is a step up from the old one she's grown and has more opportunities here the difference between. a and b. . and it's different but that's. the size of the parts that we used to time the catholic church in that we hear. a little bit more detail. but our shine on the watch is really made in america claiming that can be misleading considering that the company's parts are sourced from around the world. the movement components come from a swiss company with a factory in thailand shine all also outsources other components like cases hands dials and crystals from india china and taiwan they even buy their thread from
6:24 pm
a supplier in germany so technically their watches are not really made in america but china is management says it's more about the american jobs it creates the company started out with just six employees now it has a workforce of six hundred fifty with around two hundred fifty of them working on the assembly line the company invests heavily in its employees even flying in watchmakers from switzerland to train them. courtney whiting or assembles bicycles that china knows detroit showroom. he's convinced shine all the plays an important role in the city's economic revival. definitely been for years the story's been open and there was not much on the street three years ago no there is still popping up all the time it's just if we hold the resurgence. for it's still there. one thing is for sure the john channel the creates are made in america and they
6:25 pm
help detroit's economy one watch and one bicycle at a time. over eighty for its part has been temporarily exempted from the u.s. tariffs on steel president of the steel trade association hands young cow cough reacted saying the following the news put in right exemption from the u.s. tariffs on steel imports is of course essentially to be welcomed he said but it is too early yet to give the all clear large parts of the u.s. steel market will be shut off which could mean that steel produces will now divert their exports to the open e.u. market the e.u. needs to quickly implement measures to prevent an imminent diversion of trade. it's the early shift it to some krips steelworks and there's just one topic of conversation for those clocking in the preliminary agreement about the u.s. steel tariffs. that we keep going through we don't really believe it we know donald
6:26 pm
trump always goes back and forth with things it's not a problem settlement as donald trump has clearly had so much pressure from within his own country for trouble from the federal reserve banks and the u.s. economy for that matter garnishing your chaffed. exports around four billion euros worth of products to the u.s. every year industrial facilities machines and steel high quality high tech steel. the german state association has welcomed the agreement with the u.s. government but it says the e.u. is far from being in the clear the u.s. will still be sealed off for many of the state of the exporting nations from eastern europe and asia their exports may well end up on e.u. markets. we believe that that could mean around thirteen million tons being diverted to us. that's an import increase of fourteen percent which would completely swamp european steel markets and place considerable pressure on
6:27 pm
companies to adapt. that donald trump still dispute has changed the way many workers at towson crip see the u.s. and has done a lot of damage at least as far as trust is concerned. that's it you're up to date with the latest from the world of business havea get us takes over from a business desk thanks for watching and have a great weekend. dovid
6:28 pm
saying goodbye to press freedom. in poland the media face growing restrictions. say t.v. has already had to toe the government line journalists were fired and a new director was installed. now private broadcasters and newspapers critical of the government are also coming under massive pressure. germany. most colorful.
6:29 pm
the most traditional. find it all at any time. check in with a web special. take a tour of germany state by state. d. w. dot com. with different languages we fight for different things that's fine let me all stick up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters w. made for minds. we make up oh but we. what type of debt and. we are the seventy seven percent. want to keep the continent's future. youngsters as they share their stories their dreams. their challenge. the seven percent.
6:30 pm
platform. welcome to focus on europe i'm michelle henery thanks for joining us after defecting to the west a former russian double agent is found poisoned on a park bench in england this isn't the plot to aspire movie nor is it a tale from the cold war this is attack happened in modern day britain and the government is convinced that that the kremlin is behind it in the city.


info Stream Only

Uploaded by TV Archive on