tv Business Deutsche Welle August 24, 2019 1:30am-1:46am CEST
still. to do you. subscribe to. documentary. a 12 punch practically designed to take off donald trump he's responded in kind after china hits the u.s. with a fresh round of tariffs on american goods and after the feds. didn't respond the way trump wanted into. some worries they can't drink away french dinners
are anxious over donald trump's threats to slap levies on their wine. a historic free trade deal between the e.u. and the bloc may go up in flames as pressure mounts on brazil over the wildfires raging in the amazon. this is the business i'm joined now in berlin welcome now this may surprise you but china's earlier unveiling of a new round of retaliatory tariffs on about 75000000000 dollars worth of u.s. goods triggered an angry response from president donald trump he's an entire tariffs on chinese goods starting in september that's after an earlier tweet storm accusing china of costing the u.s. trillions of dollars he also said u.s. companies were quote here by order to immediately start looking for an alternative to china just as a reminder the latest round of tariffs from beijing was a response to washington's last move to tax an additional $300000000000.00 worth of goods taking effect on some. tambour 1st and december 15th which has now been
increased to 15 percent from 10. yards carter joins us now from wall street younes when trump says that american companies should look for alternatives to china apart from shifting manufacturing back to the u.s. what does that even mean well i mean clearly the u.s. president can force the u.s. corporations to move their business away from china clearly marks escalation point in the trade relations between china and the u.s. and after the market closed here on wall street u.s. president donald trump announced that he is going to increase tariffs on chinese imports and investors on wall street clearly got to call it on the wrong foot and then specially shortly before the weekend nobody really wanted to have too much risk in the market before the weekend and we saw quite a sell off here on wall street at some point. by about 800 points by the end of the
day blue chips were off by a good 600 points and that marks the 4th consecutive week of the losses here on wall street. a fast moving story right before the weekend we can all relate but stick around because there's more to get through and to another target of trump's ayer us federal reserve chairman jerome powell has been under pressure from the president to slash the interest rate soon apollo has given little and the occasion of any change to interest rate policy in his speech to the u.s. central banks and all gathering in jackson hole wyoming here he is walking with outgoing bank of england governor mark carney after delivering his remarks the world's most powerful central banker said the u.s. economy continued to perform well but he did note the risks linked to its trade war with china and said monetary policy alone cannot fix all the potential economic fallout from it. and we're back with course to on wall street now again what is
wall street expecting now with regard to future rate cuts or jerome paul as expected stood not to mention that we are going to see another interest rate cut anytime soon he said that he's going to he and his fellow. members of the federal reserve are going to close the observe the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next fed meeting mid september and chances for another rate cut in october stand more than 70 percent so wall street is convinced the world see those rate cuts and that actually the market a little bit before we've got the storm from a u.s. president donald trump. card to there with us on wall street thank you very much.
and returning to the topic of tariffs at this time from the us on french wine wine is francaise 2nd biggest export the us is by far its biggest market and last year it important it 3600000000 dollars worth of the stuff washington has threatened to flop flop he would levy thought it a move which would play serious pressure on vintner's across france. at the end of the summer trimming the vines of their excess leaves is one of the last tasks wine makers face. after that it's wait for the harvest this year vindu pierre thomas thinks his bordeaux could turn out fairly well. so far the year is gone smoothly. it's only august the wine harvest is in early october so we have a bit of time before we know for sure. so i'm. less
predictable is what will happen to sales especially to the united states after president trump said he would slap a huge import tax on french wines a thread pierre's brother in law is taking seriously the family has worked to vineyards here for 3 generations and he says every penny counts. i think he wants to show his authority that's his character. but i hope he is not serious. if he really doubles the customs duties on french wines and really i don't know if we will be able to make any money on the wines we exported to the united states. maybe in some time in young some 2400000 cases of wine are produced every year wine making here goes back to roman times the region was even declared a unesco world heritage site. the finest vintages always find
a buyer but wine merchant maxine peake says meat market producers will suffer. or die points they might survive it and new markets we've gone i mean if it's done they're going to us they will go to another place is when you're de best in something you would already have them and so that's i my opinion not a big problem for the main production it's going to be a huge issue yes and that means wine makers like pierre and his family for them politics add another layer of uncertainty to a laborious production process a process that is already being threatened by stream whether that most scientists put down to climate change and i should leave for hector's of our vines froze this year and it can hail any time before the harvest there are many weather patterns we just can't predict it. pierre and his family are confident the french president
will stand up for them at the g. 7 summit whether or not he wins the political battle could affect wine lovers all around the world. french president hollande has promised that this year's summit of g 7 leaders and bar it's full focus on the fight against inequality it's a tall order given that the g. 7 been talking about this issue for years now with little to show for it at least that's what she 7 critics say. ahead of the summit the organization set out 7 key issues it says the g 7 was act upon. for years oxfam activists have shown up at g 7 summits to protest against social inequality. this time around and berets is no exception. the g 7 countries oxfam says have to get that act together. the protesters demands include increased climate protection more funding for education and health fair tax systems and gender equality. because we need to show that there
is a difference between the acts of all the press and prisons here in the air it's the reality of the there is a lot of very interesting all the warts there but the act not and we need to tell them that is time to be brave time to be brave and to act against inequalities time to act against poverty. some of these points like the one concerning gender equality came up in talks on friday between among the president of g 7 host country france and you representatives but several protests calling for an end to empty promises still slated to take place on the sidelines of the so much. the free trade deal between the e.u. and south american bloc marcus or took 20 years to negotiate was finalized in june but now it's on shaky ground france and ireland say brazil has were nega on environmental commitments in the deal and they will block it as
a result that's amid an international outcry over wildfires raging in the amazon. the amazon fires may be an environmental disaster but they are being found by the country's crippling recession. populus president and arrow is using his country's economic plight as an excuse to allow corporate interests free rein in the wilderness under both the narrow deforestation has accelerated white swathes of the rain forest have been cut down for temblor or even worse burns down to make room for cattle for soybeans or to be developed by mining companies there are rich reserves of copper in the area a treasure trove for a populous president many experts say the dire economic situation and much of the country has enabled balls and arrow to implement his agenda. by evening
we have a country an economic recession and this kind of thing is happening so dizzy the fires under the tree are saying it's illegally done by people invading areas that shouldn't be ok pyatt. boats a narrow clamp on wednesday that environmental groups are responsible for the fires without evidence when pressed for evidence he said it was simply his feeling the fires are strongly suspect to result from the recent intensification of deforestation in the amazon brazil has seen an 84 percent increase in forest fires this year more than half in the amazon region. that's it for me and the business team here in berlin for more business news and features check out d.w. dot com slash business are follow us on social media i'm john el-gamal on thanks for watching and how have a happy weekend. s.o.s.
do they stand a chance. to stand up for european values and contribute to something important coming up see a. future of europe start september 2nd on. climate change. environmental projects we give globalisation the face biodiversity species are insufficient exploitation. human rights displacement. the global and local action. 3000. life from the g.
7 meeting. some of the action and a global inequality the crisis with iran and international trade. donald trump spent with his host french president much of the trade war with china came to rail everything. british prime minister might use the occasion 5 great press. reporting from the g 7 meeting in p.r. its life for d.w.i. news. the crystalline surety of the voice of soprano and her eyes she will be my guest just a few minutes. and welcome to news from the world of arts and culture also
coming up on the show. in our case no series on european visit red square in moscow. bus we begin in paris and a brand new museum that will open to the public next week the music. of policy the museum of the liberation of paris is dedicated to the 2nd world war more specifically to the resistance of the french people to the nazis it opens this weekend in conjunction with the 75th anniversary of the liberation of paris and 944 which is that list that just cut a great header she is now free and get a free pass. 25th of august 944 a day the french will never forget after 4 years of planning and 20000000 euro a new museum in the heart of paris is finally ready to open its doors to the public . private $7000.00