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tv   Business  Deutsche Welle  April 10, 2019 3:02am-3:15am CEST

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time again for tariffs washington takes trade sanctions with the e.u. up a notch over a transatlantic over aviation subsidies. also on the show beijing makes big promises in brussels equal treatment of chinese and foreign companies back home but will china walk the talk. welcome to business i'm jenelle and in berlin good to have you with us president donald trump has lashed out at europe for subsidizing plane maker airbus saying that's made for unfair competition with the u.s. is boeing now trump wants to settle the score by launching a new round of tariffs on european products bringing together a decades long dispute and much more recent trade tensions. airbus isn't just an aerospace giant it's
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a pan-european collaboration supported in part by government subsidies a fact the united states says gives airbus in unfair advantage one that president trump wants to take action on via tweet he announced eleven billion dollars in new punitive tariffs on european products it's a conflict that has been brewing for fourteen years for their part their bosses european investors accuse the u.s. of propping boeing up with suspensions of its own both sides filed suit with the world trade organization and says both sides subsidies are on lawful. france's finance minister is calling on both parties to find common ground. to water situational no question when i see the situation in global growth as in i don't think we can afford to have a trade conflict even if only on the specific issues of the aircraft industry in the united states and europe. so i am pleading and in washington in a few hours for us to reach a friendly agreement between europeans and americans and. it will be
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but the trade relationship between the u.s. and e.u. has been anything but friendly in recent months. of terrorists on steel and aluminum imports from the e.u. has soured the relationship as has his repeated threat to increase the levy on european made cars. joining us now is our financial correspondent yes court on wall street welcome good to see you now is this threat enough to qualify as a further escalation of trade tensions between the u.s. and the e.u. and how damaging do you think it could be for the talks well i mean so far is not that substantial if you look at the exports from the european union to the u.s. in the past year we are talking about roughly four hundred ninety billion dollars now those new tariffs are for goods in the amount of eleven billion so it's minor in that sense but certainly there is some uneasiness if we might be seeing some tit
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for tat so now that the european union might answer and that could provoke u.s. president donald trump and his administration once again and that's where the danger lies so that those two sides will actually start a fight it was the each other and that could. potentially lead to some escalation but who knows maybe the u.s. administration is using this case as leverage show for some other trade talks and still open for example if the u.s. will impose tariffs in the near future. but yes this attack on air of us is also coming at a time where boeing could use a boost hardly a coincidence but it is well if we just look at the facts i mean this dispute dates back to the year two thousand and four as we've just heard earlier so it's fourteen fifteen years in the making and if we look at boeing in general yes
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the aerospace giant here in the united states has having some huge should troubles underlined here on tuesday when boeing actually published the newest delivery numbers for the first quarter and just the seven three seven types of machines saw a decrease in. deliveries in the amount of almost fifty percent sold the deliveries got almost cut in half of this type only those clearly. there is some trouble in the making for boeing once again by the way the stock was one of the bigger loser seer in the dow jones industrial average and then we also shouldn't forget that boeing is the you would should defense contractor and also as we have heard earlier the european union is also blaming boeing to receiving subsidies from washington so if that is a coincidence that well is in the eye of the beholder and scott
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on wall street there for us thank you very much. european council president donald tusk has called it a breakthrough the e.u. china leaders summit in brussels saw beijing make concessions on key trade issues like market access and intellectual property this at a time of growing european an ease over china's brand of economic ambition on the world states they you is betting big on dialogue as a way to keep china and check and minimize but neither side needs more of trade tensions that is. the choreography is still a bit shaky but when it comes to matters of trade at least the relationship is going in the right direction that's european union council president donald tusk take on the final communique for this year's brussels summit. negotiations have been difficult about that fruitful. three managed to agree
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a joint statement which said that the reaction out there should be based on the reciprocity china has compromised on several key questions international companies will no longer be pressured into disclosing their technological know how to their chinese partners beijing will also cut back on state subsidies and in future trade relations will be developed in accordance with united nations principles and world trade organization regulations. for the hearth going home we need to speed up negotiations on the china europe investment agreement with a view to making decisive progress by the end of the current year and then we can conclude a high quality china europe agreement before the end of next year it should be fair for institutional investors from both sides and ensure mutual openness. there are good reasons for the chinese compromises the complaints by european companies about unfair competitive practices in china have become increasingly bitter. the e.u.
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has also given a lot of ground chinese telecoms company huawei will likely not see its technology banned from use in any future. ultra high speed five g. mobile data network in europe its inclusion was a controversial matter because of the company's government tiny's and fears of digital espionage to you now both sides have to live up to their grand declarations something they've often fallen short of in the past. now the chief executive of one of germany's biggest industrial names the man says europe needs to play ball with china earlier this year joe qasr also took on the leadership of the asia pacific committee of durban business or a.p.a. it represents german business concerns in the region d.w. as kate ferguson caught up with him a short time ago. now you yourself have extensive experience of doing business in china what challenges did you encounter there and how in your new role as head of the a.p.a.
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do you propose to overcome them. first of all demons has been in china for more than one hundred sixty years so we have very well established we have about forty thousand people directly working for siemens about one hundred thousand indirectly so it's quite a new potent hope this leads of a second because contrary to the united states and think of the germany so you can see the order that here so we have it established brought a lot of technology to the contrary have also been not benefiting a lot from doing that so we have a very good window when partnership which we could establish because you could localize because you could transfer technology as a global multinational company so that is not always possible for small or medium enterprises which can just build another factory in china so they depend to present their goods and services into the market from germany or from europe and is
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actually requires that china opens up more than it has already been opening up they have to know a lot in the last forty years of opening up but they need to be. let's say more open to technology also being imported because they also export the lot and that's i think so it's something we need to encourage the trading partners to show more level playing field sort of approach is where do you personally draw the line between business and ethics i believe it's important to always try to balance between interest and values because values don't create jobs but interests too so we need to be very mindful about this is not about you know profit and this and that this is also about jobs so therefore i think it's important that companies like us which sharyn even for structure business energy management mobility health care. energy efficiency which is so close to society to the
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people in two economies that are getting gauged in the political discussion here so i did congratulate the president of the united states for his tax reform assuming it would create more jobs fact of the matter is unfortunately what all it did so far was actually that it raised the level of show that acts which is not exactly helpful for the ones who are looking for jobs rather than the went back to the rich where the rich are so you know it it always depends what it is. the president of the united states will do his thing and we need to deal with it and to be like let's say a one sided way of talking to and about other people of course we tell him but we need to deal with it because if you have interest you have sixty thousand people in the united states twenty four billion revenues so we have interests which we obviously need to go look into and we have cost of ours who want to buy from us and
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not from somebody else just because you know the government would like them to buy from somebody so there is always a balance to strike. and that's it for me and the business team here in berlin thank you so much for watching. the book.
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