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tv   Business - News  Deutsche Welle  March 14, 2018 12:02am-12:16am CET

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how much world breck's it cost and who will foot the bill german industry leaders are urging berlin to ensure that the business board bear the brunt of britain leaving the e.u. we talked to one of germany's top economists about the impact of brecht's it and how to soften the blow and from dealmaker to deal breaker as donald trump blocks the takeover of u.s. chip maker qualcomm national security really have been hampered by the one hundred twenty billion dollar deal. this is a business i'm crystal coble welcome at a european parliament debate on tuesday e.u. officials urged the u.k. government to speed up. with just one year to go until britain is set to exit the block prime minister theresa may has mainly been repeating the red lines that have been known for years official say and german main industry association is urging
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politicians in berlin to make their voices heard in brussels and avoid any heartbreaks it which could cost german businesses billions. bricks it will change aspects of germany's export trade it will not be more complicated but also cost up to nine billion year a small per year according to xpect estimates the extra costs will be due to terrorists registration procedures and waiting times at borders and german industry representatives can still be reached between the e.u. and great britain. we're calling on both sides to reach an agreement and on british leaders to support the transition of things. but it's but that would give companies until twenty twenty before they have to adjust their business models with. business and of the cialis what was inside. the car industry will be hardest hit according to a study the industry will have to shoulder at least three billion euros in extra
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costs cars are among germany's most important export products. last year germany's exports to britain totaled around eighty four point four billion euros that made britain germany's fifth largest export market and german imports from britain came to around thirty seven point one billion euros. brics it will be especially hard on smaller german companies up until now many have had very little experience with trade outside the e.u. but just how complicated the post brics it trade groups will become is not yet clear if that's still being negotiated. for more on the waging breck's of debate hans venison joined us earlier he is one of germany's leading economists and the former president of the e four institute for economic research and my colleague monika jones asked him how bad the impact of brecht's it
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would be on germany. yeah very bad until recently that this was the third biggest export market no no longer we just heard declined a little bit but it is important for jorgen industry to be able to sell in britain but this is only one much more important i think is the political aspect the equilibrium in europe in the you will be distorted britain stood for an open e.u. . trying to have good trade links to the whole world no and germany under the umbrella of british protection in the sense. of for protection had been able to sell its goods to the whole world and be an export champion in the sense even that is threatened by the brics it because the political powers in europe will change and i'm a little bit afraid that europe will become more protectionist in the biggest loser
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of that would probably be germany which right now is export champion if you say that a great britain was sort of in favor of an open europe i mean the reason may last year in her florence speech said that britain probably never was really at home in europe and britain also got a very special deal the famous rebate so europe was seem to always be aware that britain needed something special and in this current negotiation we have a very similar scenario britain demands a special relationship the e.u. stands. do you see a way out of this mug ahead situation. i'm very disappointed by the negotiations because they use their country cherry picking that sounds very good but it isn't very good what they mean is if britain has decided to leave because they don't like the free migration of people then there can be free trade in goods
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and services. this is a logic which i as an economist do not endorse because. migration and trade are economic substitutes and if one is not possible you need the other if you're right if my left hand is handicapped and i cannot use it i should be free to use my right tend to substitute for something some of the things my left hand has done it is not good for symmetry reasons to tie it to my body and that is what the cherry picking story ultimately implies it is economic nonsense to be to see it say a month i mean other non evil men who are still close to the e.u. like no way which is has access to the single market part of the customs union because it accepts those free freedom of movement that seems to be
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a very solid pillar of the european union which it is not too willing to give up should it in your mind not should not give it up i mean free movement is essential but unfortunately the brits have now decided to leave because of this so it is a pity the question is what follows from if doesn't follow that there can be free trade either and that part of the logic is wrong actually i have to some extent the the impression that someone in brussel one spots those ones to punish the brits even if it hurts ourselves we want to punish them in order to make sure that no one else would leave the u. but isn't that a little bit strange is the e.u. an institution where you have to punish those who want to exit. that was economist hans van as in speaking to de w's monica jones and conditions for free global trade seem to only get harder now the u.s. government is seeking to impose tariffs on up to sixty billion dollars of imports
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from china that's according to the news agency reuters according to a source the terrorists will target the technology and telecommunications sectors a government official said the move could cover more than one hundred products. now to a one hundred twenty billion dollars deal that suddenly off the table after imposing terrorist steel and aluminum u.s. president donald trump has stopped the proposed mega acquisition of u.s. chip maker qualcomm by singapore based broadcom again citing national security concerns trumps order came despite broad comes assurances that it would move to the united states by april worries about china's potential influence and rising u.s. protectionist sentiment hung over the take over from the start. now for more on this let's bring in paul michael viola's he's having viola's group international security company in new york paul welcome to the program how viable
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are the national security concerns that president trump aside here what not only are they realistic but they're probable and we need to understand that at the very core at the very base of national security any national security plan regardless of the country united states germany will never technology sits at the very base of that so whoever gets whatever country gets in advance of that serves them a significant advantage with respect to the expediency that they can communicate to how quickly their missile defense system will operate so technology is key and this clearly is a national security issue. the juiciest acid of this deal is said to be qualcomm's ultrafast five g. network technology which broadcom had signaled it wasn't interested in couldn't that give other rivals the upper hand. oh it it's certainly could but then again we have to look at the totality of that particular position and we know that that broadcom has a reputation of of acquiring companies cutting and selling and pasting them back
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together again for whatever it feels is going to best price and i do believe and i will say this is my opinion only i do believe that broadcom is position as it relates to not being interested in the five g. chip i think is disingenuous at the very least they're clearly interested in that and that's i would have to venture to say that that's the impetus behind you know their goals in acquiring qualcomm so and if they if they were to push back from that then we also know that this company here in place that would that would create a lot of leverage on on the side of the chinese for this particular technology michael violence of violence group international thank you and let's get the market's view on this with our man on wall street corner against president trump is rushing in to protect the market shares of a u.s. tech company is that good news for technology stocks not necessarily it might be understandable to a certain degree that you do not want to sell
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a key to acknowledge e to asia but on the other side a lot of the u.s. corporations also depend on foreign investment that we have seen quite a lot of foreign investment from china for instance in the past couple of years so there is a certain question mark what this announcement now decision might mean for the broader technology sector we did by the way see technology shares among the biggest losers here in the tuesday session if that's because of the quad called dear it's hard to say but it's not necessarily good news for us tech companies u.s. court in new york thank you. well two years of investigations into the days ahead scandal apparently didn't do much to hurt false flag and bottom line the german auto giant presented record sales figures for twenty seven t. the group's core v.w. brand posted sharply increased profits of three point three billion euros the
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company plans to finance its investment in vehicles on the back of the results which also pushed the old nothing as mowers last year salary to over ten million euros. that's our show if you want more to follow us on social media i'll be back here tomorrow see that.
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what does russia hope for colors freedom of expression fearing. all of you don't report or do you really travels through russia before the election. he makes the poor and the rich those who support the president and those who oppose him and investigative journalists. showboats our series this week on w news. the. the mortality has begun playing leading neuroscientists are researching ways to replicate the human brain and enjoying sport taking over physical labor place human brain is deciphered the new enjoys for the artificial
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