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tv   Business - News  Deutsche Welle  June 1, 2018 7:15pm-7:31pm CEST

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i don and the record. this is d w news live from baghdad still to tell us import tariffs on e.u. steel and alan when you went into effect earlier on friday i guess elvis will be going to bring you up to date with the latest actions and reactions and the response. now back at the top of the hour himself a good day. you can tell a lot about a society by its garbage. the future worthless for the rich but for many poor people it offers their only chance of survival. and i can relaunch for today just like. reporters travel to nairobi and york to meet people who know the true value of garbage. eaters created a thriving parallel economy. book pretty soon this means economic inequality
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around the world you guys are starting class warfare the response to that statement should be yes we are starting to as we want you. to reach the truth an exclusive report starting to look for on t w. look. at the. european union goes on the offensive against u.s. tariffs. to the transatlantic relations and it also increases the risk of severe turbulence is in the markets globally being used trade chief says the bloc will challenge u.s. tires to the world trade organization is this now really the beginning of the tribe or. there are rumblings of u.s. tariffs on german cars as well come america's long. with beatles being as an marks
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and. also on the show as some go up others come down china alloys tariffs on some imported consumer goods. there's a state of your business life from berlin i'm as well come legally unacceptable politically unfair and risking the economic distress stabilize ation of the planet that's what the french finance minister bouillon there had to say about the trade tariffs the u.s. has slapped on the you canada and mexico the european union is saying it will challenge the measures at the world trade organization you commission is either months from also accuse the us of protectionism is an overview of events so fond of what many fear is the beginning salvo of a global trade war. they began this morning at six am central european time twenty five percent import tariffs on steel ten percent on aluminum the european reaction is clear. it is unfortunate because this is further weakening the transatlantic
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relations and it also increases the risk of severe turbulence is in the markets globally protectionism can never be a solution and this will hurt jobs here in the opinion but also in the u.s. the e.u. has launched an official complaint at the world trade organization. they want to introduce countermeasures like tariffs on u.s. products for example bourbon whiskey motorcycles and jeans worth some two point eight billion euros e.u. member states are meeting next week to decide on the exact list many economists agree with the measure europe has a very big economy and a very important market for u.s. products has a lot of influence that's why it's right to show the u.s. that they can't just do whatever they want the e.u. must use countermeasures to steer the process in the right direction. but
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it's those who are affected most who are speaking out against new e.u. tariffs on u.s. products or taking other measures the german steel association fears that it could lead to even more trade barriers and further economic damage. i'm not joined by our correspondents terry shoals and brussels tara let me start with a quote europeans will gain nothing through weakness the american president will never respect europeans weakness that's what the french finance minister has. told reporters i found monstro quite conciliatory than they're little by. the e.u. angry at all. well of course you've got to remember that the syrian moms from speaks for twenty eight countries it's not as easy as speaking for your one single government but i was at this briefing with cecilia mom sherman i didn't get the sense that she was being complacent at all she said unequivocally that the u.s. will not get its wish to have negotiations treatment though she actions on other
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sectors as long as these import tariffs remain in place and this morning federico mo greeny said you know the e.u. is a project of peace and that includes in trade but at the same time the e.u. must defend its interests nobody here in brussels is talking about lying down and taking this silently the gap between what's happening today which is filing this w t o case against the u.s. tariffs accusing it of not being sincere about this being taken in national security interests and when the import tariffs will be placed on u.s. products is simply because there's a series of steps that need to be taken you know with all the e.u. bureaucracy and member states will get the chance to help decide which products will get either a twenty five percent or a fifty percent tariff so there's going to be a little bit of a gap before you see the retaliatory tariffs take place but we're certainly not hearing anything about not putting them on. what about trump's threats and slapping
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tariffs on european cars now is that to discourage the new from retaliating against this. yes that apparently is why he made that threat which of course does strike a dagger of fear into europe and especially germany he said that if the e.u. goes ahead with raising prices on u.s. imports to europe that he will take a look at placing additional duties on european car imports now this is something that's under investigation in the u.s. they're looking at whether in the u.s. as words this also is a threat to u.s. national security interests and if at the end of that investigation donald trump feels that yes the u.s. defense sector is at threat because of this he may well go ahead with these tariffs now this is something where if you had seen all of your monstrous press conference you would have you would have noticed this tone and she said this is causing us a lot of anxiety this threat she said that it's very very worrying that donald
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trump would come back with these tariffs on top of the ones he's already placed on steel and aluminum so this is something that you know when the e.u. says it is not going to be a trade war it's doing everything not to escalate it still seems very hard to understand how these retaliatory tariffs from the e.u. and the the ongoing threat of yet more coming from the united states is not a trade war turtles in washington thank you very much not in washington in brussels of course thank you very much. in a further escalation us president donald trump now may slap tariffs on the german calls too he says there are too many of them on the roads of america and too little u.s. cars in germany but do american drivers really want to switch from b.m.w. to cadillac. richards and gauge the mood on the streets in washington. luxury german cars are a common sight on the streets of washington d.c. and the idea of blocking their import isn't so popular. people want to buy german
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cars they should be able to buy german cars if not they want to buy american cars they should buy american cars and should buy whatever they want i think they're good quality cars. a little more expensive maybe american cars but probably. going to be better but maybe maybe a little better i think guys may view of american cars that they fall apart pretty quickly and german cars down they tend to be nicer than i think american cars i think the engineering tends to be superior again impressions donald trump thinks there are too many of them in the u.s. even though german carmakers also run assembly operations that altogether provide tens of thousands of jobs for american workers but the u.s. president still sees the business relationship as an unfair one way street in twenty seventeen german automakers exported more than six hundred fifty thousand cars to north america but many also have huge factories in the united states that employ more than one hundred thousand people in fact they built more than eight
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hundred thousand cars on u.s. soil last year alone. that means a ban on imports not only would fuel the tensions driving trade policy between the u.s. and europe it would also have major consequences for american jobs. and pause to pressure from washington chinese consumers will likely pay lower prices on certain products from july all modes the country has announced it is cutting tariffs on almost one and a half thousand imported consumer products. european wines and american cosmetic products chinese consumers can choose from a wide range of imported goods but up until now they've paid a premium for the privilege tariffs on consumer goods have average fourteen enough percent a good bit higher than the country's general import duties fare of sun consumer goods but now dropped to an average of six point nine percent. following
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pressure from the u.s. another trade partners china has pledged to increase imports and this move is part of the effort. on how we often the market adapt to the world economy and push forward economically organization. but china's not acting entirely voluntarily president trump put pressure on the world's second largest economy this week by slapping additional tariffs on fifty billion dollars worth of chinese imports china's reductions could have the two nations reach a consensus on their own going trade negotiations u.s. commerce secretary will go ross is due to arrive in beijing on saturday for the next round of talks. consumers in australia have been able to shop from the us page of the online retailer amazon ordering goods from around the world without paying v.a. t. but from july first that will no longer be possible be australian government is set
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on closing the tax loophole which encourage so-called worldwide shopping from now on orders from abroad will be subject to a value added tax of ten percent. from the first of july anyone in australia trying to access amazon dot com will be automatically retire at two to the retailers australian site there they'll find around sixty million products on offer just a fraction of the total available on the us site. many australians were big fans of the wipes election particularly as goods are tax free now the ten percent online tax means those days are over consumer groups are up in arms but the government says it won't be swayed. why should i large multinational company the second largest in the world in the case of amazon. i'm by the world's richest person not by g.s.t.
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on what they sell in the struggle when if you go to want to strive even digital online retailer. gets in robertson or something like that and you do have to pay just i mean it's a pretty simple proposition that a stroke and companies should not be put a disadvantage to large multinational companies. the australian government also hopes it will benefit the measures may boost tax revenues by around two hundred million euros per year. and that's it from the business team and me here in berlin have a home for a while have an update for you in the next office watching. every
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protection. using all channels available to inspire people to take action and more determined to build something here for the next generation global india's future bayamon series of global three thousand on t.w. and on line. a low and welcome to focus on europe coming to you from our studios in bonn my name's brian thomas and we begin this week in spain where police on the country's southern maritime border say they're stretched to the limit in their escalating battle with drug traffickers now outfitted with high speed cartel smugglers race across the mediterranean.


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