tv Business - News Deutsche Welle March 5, 2019 3:45pm-4:01pm CET
car industry ceo's as europe's big first big show of the year is about to kick off in geneva. also on the shoulder aging and answers tax cuts at the national people's congress in a bid to bolster the country's cooling economy. this is business as. in the berlin wall come to washington will and the preferential trade status of india and turkey as president ramps up his battle against what he views as unfair foreign trade practices the so-called generalized system of preferences program grants and favorable treatment of imports from both countries for a range of goods such as automotive parts tires and appliance trade representative for his office said that india failed to show washington that it would allow require market access and instead erected trade barriers is more. when no random o.t. last visited donald trump the pair boasted of their truth friendship now those
bonds could be tested as trump turns his anger over trade towards the south asian powerhouse. the us president has said he will end preferential treatment for imports from india the arrangement allows for duty free entry for up to six billion dollars worth of andean goods initially designed to give poor countries a leg up the u.s. says india hasn't lived up to its side of the bargain namely offering us access to it booming economy and retard. india's comments chief played down the impact to put things in. the exact perspective that. we've been if it's worth. to the tune of one hundred ninety million dollars on a little flow point six billion dollars for the benefits was in an absolute sense another percentage of the real in war. are very very minimal and more.
turkey too is in this trade fight trump says the old tower of privileges have outlived their use the istanbul skyline a testament to its rapid economic growth progress that may come at a price if trump carries through on his plan. joined by pandey from india desk asked us how big of a hit will that be for india's economy. well you get out you heard the commerce secretary he said that it's going to have a minimal impact as far as that numbers are concerned begging the numbers at around one ninety billion dollars but what he missed out was the fact that the kind of like billion dollars worth of goods indian goods that a five point six billion dollars worth of goods are going to lose the competitive edge in the u.s. basically goods from countries like mexico with which the u.s. united states has a free trade agreement so that's a point that they've missed and that's considerable so i spoke to the head of the
exporters body in india and mr jessup so high he told me that good textile goods a few engineering goods and marine goods are likely to be affected because of this move but he interestingly he did mention the fact that it's also the u.s. the american downstream companies which actually import a lot of semi finished goods from india who are going to suffer because of this and they're buying goods on the cheap from india and now the prices are going to go up he didn't mention that it's going to be a marginal impact with one two three percent that has been now put on all these goods but their facility is going to have suddenly a considerable impact when you see the kind of competitive competition edge the indian front is going to lose in the u.s. will that narendra modi in the upcoming election. well the opposition is not going to leave any opportunity to embattled prime minister modi now his he's all he's almost he's always boasted about his personal equation with world leaders including
president donald trump about and how he to underline the foreign policy gains made by india not the then the opposition is definitely going to ask him questions as to how a policy which has been which had been in place since the seventy's has been removed drawn under his watch now that's going to have an impact but how much of an impact is it going to have on the voters how much is it good to sway them is your guess is as good as mine very briefly planes with the recent decision regarding amazon and wal-mart by india play a role. i mean there is not certainty about that but that was definitely and it didn't in recent past the fact that the indian government came out with the rules that actually was limited to limiting the business of companies like amazon and the and walmart on flipkart the rule says that these companies cannot sell goods online
through the affiliated companies not a huge chunk of the goods this would actually watch from their fleet of companies so it was a huge setback for these companies and but they have been it is of late in recent parts and donald trump has been actually calling out india for its high tide of india for two companies like visa on my mastercard to actually store data that of transactions which are made in india locally in india the fact that india and india has restricted dairy imports from the u.s. citing religious reasons so all these had been a didn't as far as the u.s. indian trade relations of late have been concerned. thank you very much. all eyes on beijing these days as the annual national people's congress gets underway where the government unveils huge tax cuts amid a slowing growth shanghai close nearly a percent up and hong kong stocks headed into the break tuesday barely moved as
investors how their breasts for signs that might point to a breakthrough in china u.s. trade talks but the focus of the opening session was china's start treaty commie beijing cuts growth forecast to six point six percent this year a thirty year low and announced carts worth several hundred billion dollars. told to delegates the country faced a quote tough struggle. to europe now. big motor show gets underway tomorrow it's an industry he said by the problems that is gathering there in geneva switzerland to day legacy carmakers have struggled to make progress on electric unsolved driving cars chased by newcomers like tesla or google while echoes of the diesel gates scandal still reverberate through the halls trumps china policy trade policies china's slowdown and brags it to the mix and you can see it's not really what i'd call a party atmosphere there in geneva. if you need them most your show is an opportunity for carmakers to to their own horn industry mama fly quality stock and
have been known to rise to the occasion last year v.w. c.e.o. him back to use used his appearance to herald a new era of electric mobility but this time the political landscape in particular the continuing uncertainty over britain's departure from the e.u. is pushing a damper on proceedings. we would hope that it would only be for several months and afterwards we would find agreement and recover. but it's very hard to predict i would say. brics it wouldn't suit the company but it would be. another major source of concern for many here. as the prospect that the united states could impose tariffs on european car imports such a move would cost v.w. dimer and b.m.w. together a total of six billion euros a year. we are clearly in favor of free trade so our business model and all the
investment we have shown in the united states is based on free trade and i believe this is shown everywhere in the world that free trade creates wealth this year no amount of glitz can disguise carmakers concerns over their industry's future whether it's the prospect of a disorderly praxis or a punishing tyrants now more than ever the stakes are high. now the man is standing by in geneva for us to know the motor show is already open for the press today what's the mood really like. no the mood here is pretty layered on the one hand carmakers have to stand out from one another by showcasing their brightest and us on the other hand that they have to speak with a reasonably unified voice as to how vulnerable they all are in the face of threats to preach trade like bragg's it or us import tariffs at the end of the day though even though reality and the real world catches up with this is still
a glamour showcase it's still one of the few public auto shows left in the world where wealthy buyers actually come to look at the cars and then buy them and makes a difference in the atmosphere when you hear that a nineteen million dollar car was displayed here that someone actually bought it so the prevailing attitude seems to be that the car makers are saying look we spent years developing these cars all before free they're worth these threats to free trade we want to be able to show them the thing that we have here can immunize us anyway from the shifting political landscape and as such it's very hard for them to deviate from that attitude that this car show should be about the cars if you look at asian. geneva do they have the same concerns as the europeans or the americans or all the. different topics on their minds. well in particular nissan made headlines today because of that news about carlos ghosn potentially growing getting out on bail now this news actually came out
a particularly awkward time of course for the fox partner renault that was happening as they were unveiling their nuclear their new super their new maybe super car that was supposed to be a pivotal moment for them here at the car show now neither nissan nor renault wanted to comment on this news about carlos going but particularly renault has been pretty consistent in saying that this is an alliance that they want to keep that they've been working hard on restoring trust of this partnership especially nissan's trust and this partnership that most analysts i and most analysts i've talked to are pretty much in agreement that they need this alliance that it doesn't help any of the three car makers to become smaller at a time when the challenges for the auto industry are getting bigger. now. at the show for us thank you. and now to some of the other stories making news around the world britain's central bank is warning that europe's financial system is facing
risks to stability after a no deal brags that the bank of england extended its weekly lending facilities to include euro the euros it also said households and businesses across the european union not just britain were vulnerable but miss had to leave the new in twenty four days. b.m.w. is planning to shift some of its engine production from the u.k. to austria in the event of such an ordeal breaks it that's important to pay the shots involved ahead of b.m.w. as many brands a final decision from becoming the factories inspected in the coming weeks as the u.k. will officially leave the you on the twenty ninth. that's it from me in the business a much more business news on background stories on our web site to go. so-called business.
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