tv Business Deutsche Welle May 31, 2019 11:15pm-11:31pm CEST
issues. thank you for watching to get your news please post on twitter our handle their act did a few news business with stephen beardsley is coming right up in just a few minutes don't go away. not everyone who loves books has to go in the same. t.w. literature list a 100 plus creeds. to put simply. wonderful people and stories. so special doing.
it. sure. to cost a lot. to do for. g.w. . the for. the u.s. threatens new tariffs against mexico in a bid to curb by gratian the result so far investors are frightened business groups are furious and a top u.s. economic priority a new nafta deal is now at risk. also in the show the u.s. china trade war threatens to retry all long established supply chains we'll show you why by looking at one of american business. we'll tell you why farmers helping to fuel china's extraordinary coffee are so happy. and qatar hastens to rebuild its
image after complaints about dismal and deadly working conditions in its new stadiums for the 2022 world cup. welcomes your business update i'm stephen beard thanks for joining us president donald trump says he will levy a 5 percent tariff on all mexican imports unless the country curbs migration across the u.s. southern border by june 10th a tariff could rise to 25 percent in october mexico's president andres manuel lopez obrador says he will respond with quote great prudence to trump's latest threat and that it won't stop his country from ratifying the new nafta agreement the u.s. chamber of commerce america's top business lobby as meanwhile said it is considering legal action to stop the move. and let's take a closer look at this with our financial correspondent yens quarter in new york. how are the markets responding to this news well quite allergic hardly anybody
here on wall street saw this coming and we saw a quite a sell of blue chips down by a good 350 points ending the week mostly on the lowest level on the day and just to put this into perspective we've traded lower for 6 consecutive weeks so that is actually the longest losing streak in about 8 years so certainly not a very good reception here on wall street so a punctuation mark on a bad month who is set to be hit the hardest were these tariffs to come into place . it's mostly common you affect tourists and suppliers to the car industry but then also we also see some trade for computer equipment for example from mexico to the u.s. but you could clearly see that comment your factor is probably will be hit hardest and we also saw that here with stock prices general motors losing about 4 and
a half percent just here on friday now yes there are reports coming out that trump's own trade advisor actually advised him against this move but what's behind that reasoning. yes certainly i mean we got actually the head of the treasury steve muchin and also one of the biggest trait in visors is they're both saying that they do not agree with the president on this measure on the other side we have the hard liner peter in the vero saying that he considers this move from u.s. president to donald trump a brilliant so obviously quite different opinions on that and besides that makes it cold now this weekend countermeasures from china actually will go into effect so we certainly opened up a couple of new fronts and then also people on wall street are asking what does it all mean for possible kateri of the european union so at this point everything
seems to be possible but as we've seen the shop reaction on wall street maybe u.s. president donald trump might reconsider and so that those terrorists mexico might be avoided at the end so the trade tangle getting even more complicated there korda for us in new york thank you. well the u.s. china trade war the end just mention that's intensifying new chinese counterterrorists on u.s. imports go into effect on saturday targeting $60000000000.00 worth of goods beijing also says is creating a blacklist of foreign individuals and companies to ban from supplying chinese firms a caught in this tit for tat are normal businesses here's a look at the difficult decisions they're being forced to make. pink for the girls and cars for the boys the family run furniture retailer delta children has its business model down pat but its supply chain that soap in the air the company's
products are imported from china and now subject to new u.s. tariffs wires retailers companies like myself don't know what to do we place orders or do we not place orders if we place orders in china. 25 percent do the rate. it's gets very expensive if we move the production and the duty rate cut come comes off what happens to the existence of horrors that we took so we were in the dilemma we don't know we are uncertain is the worst thing you could do for business and they aren't alone businesses around the world are suffering as a result of the trade war with global growth projections adjusted downwards in the us new terrace of forcing firms to choose among several bad options easing higher costs raising prices or overhauling long established supply chains most was tracing for delta children is that things are going so well with the chinese suppliers they've been trained and well to us and trained in creating safe baby products. and
i want to cut those relationships is not just delta children hoping for the trade war to be put to bed businesses around the world and their suppliers and watching and waiting for the break. over to latin america where the humble potato might not seem like a vegetable worthy of much celebration but improve it's taking a star turn the 10th annual potato festival in lima is displaying many of the country's 3 and a half 1000 varieties of the tuber the world's largest selection of people come from across the country to celebrate different flavors colors and forms the potatoes. and china has a reputation of being the land of tea but coffee is becoming increasingly popular china in fact now produces more beans than coffee powerhouses like costa rica and kenya combines growers are cashing in. they've arrived in every major city international coffee chains are popping up all over china with
a caffeine fueled enthusiasm starbucks opens a cafe here every 15 hours and suddenly everyone has their favorite coffee down to trim a flak no sugar for. a latte but as well as serving domestic demand china is increasingly helping the rest of the world get its coffee kick in recent years many farmers have converted to the crop some of them doubling their income to around $10.00 a day something with singing about. well far before i grew corn and potatoes but i made much less money than i do now with coffee. because. once famous for tea is now china's coffee capital the 1st plants were reportedly brought here by french missionaries some years later china is now the 13th biggest producer in the world which you are to have plantation is located near the tropic of cancer it's a very favorable area for coffee cultivation there's altitude climate and 1900
millimeters of precipitation pay a year it's ideal. going from being to cup china is embracing coffee whatever form it takes. there's still about 3 and a half years until the next world cup kicks off in qatar and criticism about how one of the world's richest countries is trying to prepare itself for the mega event as it let up now the qatari government is trying to change its public image. labor city the model for the future of could turn its workforce clean stero surrounded by high walls on the southwestern outskirts of doha 40000 workers live here mostly from southeast asia. we're not allowed to speak to those who leave here after criticism of workplace deaths starvation wages and squalid accommodation qatar's government is now trying to improve its image. of artists that
i think thanks to reform strategies and new labor laws we've made qatar an attractive destination for qualified workers from all over the world that was our goal. and sally. qatar wants to shine and set a new benchmark for the 2022 feet for world cup 7 brand new stadiums are planned one is already completed fascinating designs in the desert sand high tech features and smart cooling systems. this one at a cost of 600000000 euros the social gap however remains dizzying in the richest state in the world workers at the stadium putting up to 10 hours a day 6 days a week. the medical care is free they say also food and internet but is that enough we're allowed to speak to selected workers in
the interpreter is also their boss the answers are hardly expansive how would you describe the working conditions that many people come from based on the condition they say. i'm going to go are they good ok. so much more pertinent. he says about $340.00 euro that's a fair price and he hesitates and says yes. we asked this worker how many hours a day he worked and the. human rights watch says salaries are often paid late or not at all. so withheld unions are banned exploitation according to human rights watch. have been some minor promises some partial reforms realized
but still they don't include all of the workers they don't apply to everyone and they're not enforced for a while you know obstruction to justice people's access to justice is so difficult . as preparations for the 2022 world cup intensified there's still a huge gap between claim and reality in qatar thank you and that's a for me in the business you can find out more about these and other stories online and dot com slash business i'm souvenirs and. thanks for watching.
secrets lie behind the small. find out in an immersive experience and explore a fascinating blood cultural heritage sites of the a. d w world heritage for 60 getting. older clearly on you to a good. deal we've done to. include . syria both live in both my home. to sleep. in the peace gargoyle is a cool place to call. old clothes old. to the polls because of the coldest night and little.
this is the free speech the couple to find for real hookers who was looking for things to include walking the river but. this is the news africa coming up in the next 15 minutes mozambique's a bid to rebuild the devastated city of beirut is hosting a u.n. back to meet. raise billions of dollars needed to repair the damages caused by cycling is die and can it costs some people have not even received any. and beyond space and use of above that's all about life the so-called museum doubles as an experiment on environmental sustainability people experience an alternative way to living in any.