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tv   Business  Deutsche Welle  August 2, 2019 5:02am-5:16am CEST

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that left the city almost completely destroyed. president shrub what else is 18 other rounds of tariffs against china and it could be the most painful yet for american businesses and consumers getting retail electronics especially hard. also on the show farmers in argentina see opportunity and risk in their country's landmark trade deal with the e.u. . and guess which european country has so few young people that are still paying them to stick around and start their careers at home. this is your business report i'm sitting there is invalid thanks for joining us president donald trump says the u.s. will add a 4th round of tariffs on chinese goods beginning september 1st as trade talks between the 2 sides continue it would be a 10 percent levy on $300000000000.00 worth of goods and unlike previous rounds it
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would take a heavy toll on retailers and popular consumer electronics like cell phones and computers. the u.s. president on a trump a cigarette shooting up the trade war with china and not just a notch still he tweeted on september 1st the u.s. will put an additional tariff of 10 percent on the remaining 3 $100000000000.00 of goods and products coming from china and the u.s. has already slipped tariffs on $250000000000.00 worth of chinese imports from september 1st the total will be $550000000000.00 so far china has retaliated with duties on $110000000000.00 worth of american goods. president trump also criticized china for not honoring promises to buy more u.s. agricultural products china however insists. millions of tonnes of american
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soybeans have been shipped to china in the last 2 weeks and many companies have made autos of american cotton and pork the trade war between the world's 2 largest economies has strict on for more than a year now health now talks and china earlier this week ended without any progress the white house said the negotiations would continue next month in washington but that was before the latest round of tariffs was announced. and let's talk now to our financial correspondent in new york jose luis de haro jose markets are always sensitive to any announcements on the trade talks between the 2 sides how are they reacting so far. well stephen a d.n.r. has been up to new targets feet seem to d.m. certainty of when eve to walk we mean that day us in china will be resolved and precisely tar examine their impact world wide i want of the main factors that are taking the toll on global growth that so far the u.s.
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consumer seems to be hardly will decide to asian but by posing duties on every chinese product i will enter the us up there september 1st consumption can end up feeling price pressures this is also. in a way into the monetary policy announcement as part. of the right cuts increase with the investors looking forward to at least 2 more cuts before the year end that said. also increasing place in defending a very delegate and awkward position even. times increase in the next month's rent is interesting that this announcement came a day after the fed announces interest rate cut. businesses on both sides of course knowing that this could be coming it's been in the works for a while does that make them any more ready for when it goes into effect. some more than all those stephen but if we take a look at the reaction from retail stocks for example what targets collation ease
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always wore reason since i'm wrong 42 percent of all part of the sold here in the u.s. from china even in company you say can apply for exceptions that trumpet ministration is a playing hardball with some of them a. case they are filmmaker and all there is like h.p. or dell or nintendo are moving their money factoring operations from china to be. a lengthy process a tool and at some point the cost of from running a production outside china or directly dealing with the tirades will either take a toll on profit margins and operation or be passed to consumers say who play. a role at least in the us economy so it seems a died out with the old these situation everybody loses so far stephen and of course we'll be following this as it develops jose luis the heart of their force in new york thank you. american manufacturing activity has slowed for the 4th straight month hitting its lowest level in nearly 3 years that's according to the july
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survey from the institute for supply management the biggest supply chain industry association in the world now con of us had expected an uptick in new factory orders once again contracted with exports also down on weak will demand especially hard hit where metals electrical components and transportation sectors the news is a blow for president donald trump who has promised to revive american manufacturing . that's been touted as a win win agreement a massive deal slashing tariffs on products between the e.u. and the americas or bloc of major south american economies but farmers in particular are wondering what the deal means for them in argentina some see opportunity while others are concerned take a look. at the buenos aires rural exhibition draws in over a 1000000 visitors every year. this year's event comes shortly after the e.u. mercosur free trade deal was agreed and the president of argentina's agricultural
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society juan jose could get on our own is thrilled at the prospects the deal opens up he sees it as a chance for all the agricultural and livestock products a country like argentina can offer not only meats and cereals but also products that face strong e.u. competition like olives and cheese. like every agreement it's about ensuring a win win situation where all sides benefit the negotiations went well on all food products maybe we didn't reach all of our goals but in negotiations it's also important to let go in order to win. by putting out. so the e.u. won't be opening up its meat production sector as french farmers had feared but it has granted america a generous cut of its market at a very low tariff. 65 kilometers south of the rural exhibition among the vegetable and fruit farmers of the le plaza communities foamers here are unsettled about what the e.u. ministers are agreement will mean for them organic farmers are especially worried
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about pesticide use. but it does feel the import export business involving products like fertilizers herbicides or other pesticides are definitely made with companies like bio in mind. and body sickle like the e.u. macassar pact won't go into effect until all e.u. member parliaments give the go ahead a process that's expected to take at least 2 years. luxury car maker b m w's net profit fell 29 percent during the 2nd quarter of the year to $1480000000.00 euros and that's due in part to greater spending on technology for electric vehicles nevertheless the company is sticking to its annual forecast for this year thanks to healthy car sales like other german car makers b.m.w. has struggled to overcome the fallout from the diesel emissions scandal and the shift to new technologies. german industrial giant siemens has reported a 6 percent drop in net profit saying trading conditions are getting harder net
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profit is down to 1140000000 euros for the last quarter but is despite a significantly weaker environment in key markets the company is confirming its outlook for the year siemens is one of europe's biggest industrial firms makes a range of products from trains to wind turbines. now. nope there we are for young people in poland the benefits of moving abroad are often pretty self-evident they're more jobs and they pay better well warsaw has a plan to keep more workers at home and it too is aimed at their pocketbooks. no more income tax for poles under $26.00 sounds good ideally a new law will convince young people to look for work at home instead of a process the polish government. with taxes at 0 percent for these young people they will receive a higher salary into their bank accounts and that makes establishing
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a family easier and faster of course the important issue is also that we would like to associate the professional careers of young polish people with our country. currently between 2 and 3000000 poles work abroad britain germany and the scandinavian countries particularly popular once established there they usually don't go back. meanwhile at home the polish economy is steadily growing and workers are desperately needed was 0 tax proposal stop the drain 19 year old journalist polina that would sit. i don't think it would stop me and my peers from leaving it seems to me that we will still want to leave and why because there are better prospects of broth than in poland. budget's works in p.r. he also has his doubts about the new law. kind of exception as only
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a small factor it's the whole social political environment here that is the decisive factor for why young people make such decisions why they're going west. for many poles high all wages abroad are only one reason to leave a sense of adventure is another but who will take their place at home for now more than a 1000000 ukrainians who have come to escape their own economic crisis poland also tries to attract workers from the philippines. and if you have the feeling that nostalgia is making a comeback is more evidence you're right 40. years after the sony walkman hit the scene sales of compact cars set tapes at a record high at least in the u.k. some $36000.00 cassettes have sold so far this year there's surprise hit with younger music lovers looking to get their friends with music looking for something more affordable than vinyl records and it's also newer acts that are boosting sales american singer billy eilish has sold the most cassettes so far this year in the
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u.k. . and that's it from me in the business team here in berlin going to horse find out more of these and other stories online at the dot com slash business and souvenirs like this watch. the.
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