tv Business - News Deutsche Welle March 21, 2018 2:02am-2:16am CET
in the midst of trade war rhetoric china's premier minister says he wants to increase foreign investment and promises equal treatment for chinese and foreign companies. and harley davidson will have to deal with higher prices here in germany it's one of the first possible victims of the looming trade dispute. it's time for business on d.w.p. and how you got together welcome to the program the dispute over punitive tariffs on steel and aluminum that donald trump lancer introduce is at the top of the agenda this week the european union is trying to change the mind of the trump administration a look at the facts and figures shows that the tariffs that the e.u. imposes on u.s. products are on average higher than the wants the u.s. imposes to e.u. products if you take
a look at the numbers europe imposes levies of around five point two percent on u.s. imports while the u.s. imposes lower three point five percent tariffs on european imports that's according to the institute in munich now the e.u. slaps particularly heavy tolls and beef coming from the united states with around sixty eight percent while the united states levies with twenty two percent on trucks and other utility vehicles and forty nine percent on tobacco products now if we take a look at these numbers and if the e.u. fails to avoid the tariffs it's threatening to impose its very own tariffs on a variety of u.s. products including iconic brands like wisconsin based harley davidson. that sound is worth around thirty thousand euros and harley davidsons munich branch is busy the first rays of spring sunshine see customers flocking here the you is now threatening to levy import tariffs on highly davidson's. as
a response to new u.s. tariffs on e.u. steel an element approved by president trump e.u. penalties could amount to twenty percent on the famous american cycles twenty yeah twenty percent would be a real blow to the tour it would be a straight three to four thousand euro's more expensive. the munich ali davidson showroom is called the house of flames there is hardly a better known calling card for america than the iconic brands showroom here. freedom loving easy ride is find it almost unbelievable that protectionist measures could be implemented by the u.s. under donald trump. they're going to globalized world i don't believe that's a suitable method i think if we all want to head back to the middle ages ago trump just has to keep doing what he's been doing. thirty five years ago shop owner my god started repairing hollies in his backyard today he's the biggest harley dealer in germany he believes the brand urgently needs younger by its import tariffs will
make that even. the younger generation still has to work to earn money and when a bike like this cost structure one or two thousand euros even for smaller models that's not inconsiderable we're talking about one or two months income here. holly love as say the company has only been targeted because its headquarters is in wisconsin which is the home state of trump ally and speaker of the house paul ryan for them as a synonym for freedom and free trade. imposes tariffs we impose tariffs back and forth and in the end to win that. kind of. protective tariffs are unlikely to put highly out of business in germany but they could drive the prices out of the range of a new generation of bikers. of course the entire world of business is following
these negotiations closely as they might lead to a trade war and change the way countries exchange goods and services one thing is clear the u.s. is no longer the biggest advocate for free trade agreements instead there's an unexpected new voice leading the way china wants to send a clear message and remind us that it's open for business. life can be tough full foreign companies in china there's little security for intellectual property and technology transfers are regularly demanded of all who want to do business there those are the main complaints but they are having none of it at the end of the annual parliament session and during the current trade conflict china's premier spoke of his country's welcoming economic culture the war china will continue to safeguard free trade and the reform and open up policy which is our basic state policy if there were any change a tool to china's open door policy it would just be to open it wider china's
economy has been so integrated with the worlds that closing our door would block our own development. furthermore all companies in china should receive a fair chance and everyone foreign businesses included should work to the same rules china sees itself as a pioneer of free open trade but is that will just talk only recently the federation of german industry complained about the communist party's tightening grip on businesses in china exactly the opposite of beijing's stance or at least its official one let's cross over now to us caught at the new york stock exchange yes because the markets were nervous about these tariffs at the beginning of the week but it wasn't that much of a topic today. you know we're waiting for friday what's going to happen then right now we did see the market recover a little bit on tuesday after the dollar lost
a good three hundred points on monday and now on tuesday we recovered by one hundred points old so tomorrow the today a fed meeting comes to an end so that's also in the back of traders minds even if traders see one hundred percent chance that we will see a slight interest rate increase on wednesday's meeting but what keeps moving the stock prices is the facebook misuse of data what can we see today in the markets. what we hear is that the. federal trade commission is starting an investigation and theoretically then they can find facebook by as much as two trillion dollars even if that is highly unlikely because the f.t.c. is not going to find a face book out of business what we all saw here is that cambridge analytics suspended the c.e.o. after you cut brought a broadcaster secretly recorded him saying the company used bribes and sex workers
to and trip politicians so that obviously was too much for the stock of facebook by the way it was another down day after losing about seven percent on monday their stock dropped another two and a half percent on tuesday we'll keep following that case with you thank you very much in new york for the analysis. to venezuela now a country racked by hyper inflation the value of the you had has plummeted prices are doubling almost monthly and cash and soared supply in a search for solutions the country has raised wages and even turn to a digital currency now one town near the colombian border has come up with its own enterprising solution. looking for a currency more stable than the boulevard how about the lots and that's the new bill being printed by a venezuelan town of the same name city offices are selling it to coincide with a local festival that's drawing thousands of tourists with cash hard to come by the
lords offers another system for buying goods the notes can be purchased cashless with a bank transfer the city then lops off an eight percent commission the notes come in fifty thousand and one hundred thousand denominations some have a picture of local independence leader jose andres a lot so early reviews are positive. this is the perfect solution and you could just see how easy it was to get the notes and then come here and buy things easily. it's hardly a perfect solution many residents lack bank accounts and the reach of the lord is limited to its namesake city venezuela's poor economy is pervasive meanwhile the central bank has responded by printing more money something critics say is only boosting inflation. that means the celebration will be brief or a lord but a celebration nonetheless. south africa has declared its current drought
a national disaster water levels are so low people are only allowed minimal quantities especially in big cities this doesn't only affect the everyday lives but of course businesses south africa's wine industry one of the leading worldwide is among the hardest hit. if three year long drought in the western cape is caused the region's dams to reach critically low water levels prompting the government to declare a national disaster individuals are being limited to just fifty liters a day to prevent a shut off water restrictions have not just hit families but businesses too including the region's waldren down wine industry well there's just more to stop this because it's. it's really actually improves the quality this is an extent but it's not resistance because the smaller it was healed so you have a smaller house and when you have a small office yes it's more to sell in so that is how much that. wine
production has slumped by about twenty percent over the last twelve months forcing wine makers like mad lease to consider vines that require less water. obviously looking into getting caught it was consistent with the drought as far as coffee houses are. always telling off in the last dozen years or so i think this will be a general shaft but it's very difficult because the market doesn't really know where was this once. fruit growers are also feeling the brunt with industry bodies warning that thousands of jobs are on the line. situation like this is a very big focus on cutting costs as well. because you don't know what next year will. they will be a negative impact on the usage it seems the effets have paid off with the estimate
for the so-called days zero when taps run dry pushed back from next month to twenty nine thousand in the meantime so that's because wine industry can only hope for a little rain to make up the shortfall. that was the w. business that's watching we'll see you next time or whenever you like honey take care. of. the to cut. cut cut cut. cut cut cut. cut cut cut cut cut. cut. cut. cut
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