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tv   Business - News  Deutsche Welle  March 6, 2018 2:02am-2:16am CET

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time is running out to renegotiate nafta the north american free trade agreement but trumps tariff threats or got allies on the back foot is a negotiating tactic or should americans trade partners be worried. and the new levies on steel are casting a shadow on the geneva motor show and if that weren't enough now donald trump says he would increase tariffs on imports of european cars we have the reaction from switzerland. also coming up one hundred eighty people have died in the last year in south africa part of the biggest ever of the syria outbreak now one company is forced to defend itself. welcome to your business update with me daniel winter donald trump's threat to enforce tariffs on steel and on a minimum imports this week has rocked the corporate world perhaps the only company celebrating our u.s. steelmakers every consumer goods company that uses the metal knows production will become more expensive which will trim profits but perhaps worst of all the tariffs
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would hurt america's biggest allies something that's already undermining trade talks with its neighbors. you will have protection all trump says he's not backing down on his push to impose tariffs directing his attention to neighboring countries mexico and canada in particular tweezing tariffs on steel and aluminum will only come off if a new and fair enough to agreement is signed also canada must treat our farmers much better but some officials in canada maintain imposing tariffs will ultimately her thing us it's self. it's the american market that will absorb the turrets impose tariffs on our construction company and does a result the price of houses went up in the united states they impose tariffs on metals so as a result the price of anything made from metal will go up in the us american consumers and industries will be the ones to pay for this type of policy which is
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never very successful this approach never works very well. so the question french president among your might call has called for collective action on the european level. unilateral measures that are against international trade principles carries with it the risk of nationalism in search of short term solutions which in my eyes is never good i believe it's important for the european union to react quickly within the framework of the w t o and in a proportionate manner if. you don't look at it with. the flaws but trump is adamant that the united states has got the wrong end of trade deals american companies continue to lose out. on those metals tariffs could be a double blow for european carmakers not only will the factories they own in america have to pay more for the steel to make the calls but now trumpets also threaten big levies on car imports from europe it's
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a topic on everyone's lips as the biggest brands gather in geneva. as carmakers prepared to showcase their newest shiny ist models at the geneva motor show donald trump's threat to impose tariffs on vehicles made in the european union cast a shadow over proceedings some experts maintained the move would backfire. tums threat doesn't appear to be very well thought through if he really wants to impose import tariffs across the board that would affect over six million cars over all that would amount to a minor revolution in america because it would anger both car makers and consumers leading to a recession in the u.s. car market that's the opposite of what he wants. is trump makes good on his threats the german car industry in particular could be badly hurt us folks like b.m.w. and mercedes have their own plans in the united states however v.w.
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subsidiaries audi and porsche don't and would be hit hard by tariffs the united states is the second biggest export destination for german cars after china last year alone german automakers exported almost half a million vehicles to the u.s. now they're feeling uneasy about what could be to come. here the sidelines of the geneva motor show carmakers are wondering what kind of tariffs will mean for them especially diamond carmakers have production operations in the u.s. and american manufacturers manufacture vigorously abroad as well so perhaps import tariffs will only apply to direct imports from europe but that would be a blur to the industry as well the u.s. is the world's second largest automotive market and the most important buyer for bigger and more expensive german cars tariffs or not in geneva the show goes on with a pan european panel crowning sweetens volatile x e four c. car of the year. but no awards can distract from the widely held belief that the
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trade war threatened by trump is unlikely to produce any winners in this european car industry. let's get more with quarter on wall street markets and corporations have the weekend to process all of this what do americans make of trump's tower. outside of the u.s. steel and aluminum industry that does not seem to be a lot of support for those tariffs that donald trump was talking about last week and by the way we are still waiting for the details to come probably within this week but even it was in the republican party there is not a lot of support from house speaker paul ryan here on monday as they're saying that he hopes to convince the u.s. president to actually think about those terrorists once again and possibly even taking those back so that was also seen a bit as
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a relief here on wall street that maybe it won't be that easy to really impose those tariffs and we had quite a rally here on wall street because there is some doubt that those tariffs really will go along in the next couple of weeks all right nancy i'd like to bring you in on this next story as well the u.s. government has asked should make a call come to postpone its annual shall. as meeting for thirty days that's apparently over national security concerns the move casts doubt over a proposed takeover by singapore based hardware giant broadcom qualcomm has already rejected previous offers on the basis that they devalue the company still one hundred seventeen billion dollars it would be the largest ever merger of its kind. so yes this seems to be unprecedented that the u.s. government would intervene at this stage why exactly are they so concerned. well it certainly highly unusual but the thing is that broadcom is trying to do
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a hostile takeover of qualcomm and obviously some people with a quad com called now for the government to step in and look if if there might be some concerns here regarding national security as far as i know broadcom is even thinking about relocating its headquarters from singapore to the u.s. to actually have no issues with national security and that a big i do you call peroration like was called would be sold to an overseas corporation so really a long fight going on here if the deal would go through it would be the biggest id takeover in history but right now there seem to be some question marks that what we do see is the politics and also what's going on was the economy especially with corporations highly intertwined was this administration all right looks like qualcomm investors won't be cashing in their chips just yet gets caught it thanks for that. it's the world's biggest ever outbreak of listeria one hundred eighty
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people confirmed dead in south africa and the government there is pointing to produces but south africa's biggest consumer foods make a tiger brand says there is no direct link between their company and the deaths i spoke to our south africa correspondent allison gallagher asking her why tiger brands is being singled out. well they're saying there's no proof of a link and they have actually said that two weeks ago when they did their own checks that they did find no levels of this bacteria listeria but they say that they've been checking regularly and that they can be responsible because the amount of that's you know you mentioned is because of the book terry has been going around already for year and the ministry minister of health has now said that they found a source because a group of three school kids got sick in the township of soweto and near johannesburg after eating polo only it's this kind of sausage that can be made of pork or chicken and because they got sick
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a lot of these preschoolers got tests that they found this this bacteria that avian flu poisoning and they could pinpoint it down in a set to this pallone from enterprise from tiger brands that's that they ate so the minister says if we are clear now this is where it comes from ok so how is the region reacting to all of this after all it's not just south africa effect no definitely not snow because this company also exports a lot to two neighboring countries so as so far we've seen now they countries around us in panic mode as well. as botswana mozambique malawi they've all said that they're going to stop imports now and it also removed all the products that they did have from their shelves and it looks like patients experience high temperature flu symptoms vomiting diarrhea some even die as we've heard our consumers panic. yes no definitely and of course it's main deformable right it's
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old people it's caves that have been mainly affected by this people definitely opened up freaks today just to check what is in my fridge what kind of process meat do i have because a whole new set now that we shouldn't just look at is put only this one sausage but basically a lot of cold cuts and other process meats that said that the specter has made that we've also seen people actually showing up with chocolate backs full of this meat going to to factories in the minding our refunds as well so people are scared supermarkets have been responding quick publishing lists of products that you should check for if you have it in your fridge or not and pulling it off the shelves so all the kind of big supermarket chains here shop rides pick and pay woolworths they've now said ok we definitely don't want this in our stores anymore so yeah this is a is it's very it's a very very big crisis and people are in panic and of course very bad for this company and that this has happened now a nightmare scenario for consumers that in south africa i must thank you very much
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for that. for the business update thank you very much for watching. the to prevent. the to. the to grieve. the to reveal. the to.
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