a trade dispute is brewing between the e.u. on the us the european union is reportedly preparing counter tariffs on american products from motorbikes to whiskey. the hard sell trying to join your arrives in india to sell luxury apartments while preaching foreign policy sounds like a conflict of interest and cash strapped venezuela launches of virtual currency the patio a stroke of genius or an act of pure desperation. time for business news i'm funny for charlie in berlin walk home authorities in the e.u. are getting ready to slap high tariffs on american products like whiskey orange juice and motorcycles if donald trump carries out these threats to its important steel the punitive measures us secretary of commerce wilbur ross has suggested a likelihood of putting a twenty four percent tariff on all steel imports or introducing a quota. emotions are running high in the steel sector it could be the next

flashpoint for trade between the e.u. and the us washington is considering imposing tariffs on foreign made metals imported into the country the u.s. made it clear it will take that kind of move lying down. we stand ready to react swiftly and appropriately in case our exporters are affected by restrictive trade measures from the united states that could hit iconic brands like harley davidson its motorcycles are reportedly on a retaliatory list the e.u. has drawn up to punish if steel quotas are introduced as well as american made bourbon whiskey those products were apparently chosen because they're made in the home states of influential legislators no one is talking about a trade war but there's little question that the pressure is mounting the e.u.'s also worried by the new u.s. decision to radically sink corporate taxes mission to avoid firms moving their

headquarters from europe to the u.s. and we'd like to avoid any slowdown of investment those are things we'll discuss that's important because what it comes down to is keeping jobs in europe. that's what. germany's acting finance minister said he hopes for support from people in the u.s. that continue to want a good relationship with brussels. for a time to cross over to sufficient correspondent on wall street. what are the reactions to the rush through accenture and around this possible trade war what are you hearing. what wall street does not like carrots or really any kind of trade barriers funny and the reason for this is investors here not only retaliate in a quid pro quo like situation the e.u. china canada or mexico you name it what impose perez on american employees to simply have some leverage and best of all from. we're terrorists because there are

some studies and also events in history that show the damaging effect terrorists can have on the domestic economy and economists i talked to are warning of these the measures of protectionism saying they hurt americans more than anyone else because when companies would have to pay more for imported materials this casts into their profits and they might see themselves even forced to at work to go and work as again would have less money to spend so this looks like a vicious circle here talking about the circle it's looks like a roller coaster actually when you look at the markets for this month of february a plummet followed by a winning streak for six days i know some sort of a stagnation what is going on behind you. that's a good question funny the six day winning streak is over for now after being able to catch the losses of the vix out of earlier that month and a half the dow fell three hundred thirty points in the trading session the biggest

loser and the dow was wal-mart and the company fell most eleven percent and that was the worst day for wal-mart since nine hundred eighty eight and wal-mart is a heavy white in the dow and for a company the size of wal-mart to jobs as the match as a did it shows how tough it is for a chance ditching the retailers to fend off amazon and at the same time volatility is making the markets bond yields are continuing to climb so there's a lot of things going on that just make investors feel insecure year so she must to thank you so much for your analysis from new york. the trump family's taking its famous name on a marketing blitz to india dollar trying journey or has arrived in delhi to flog luxury apartments and glad the wealthy indians who have already bought into our trump developments just outside the capital potential buyers are being lured in by a dinner in the u.s.

president eldest son if they sign a sales contract by thursday donald trump jr is meeting with indian real estate developers didn't escape the media's attention he's come here to find buyers for a development outside the capital delhi welcomed and surprisingly with open arms by his local business partners it's a great discussion doing it himself he wants to understand what is the minds of the buyers or the success of the dollar was so far in terms of his revenues when is the construction start things with a lot of intense discussion which is happening we're doing it himself the complex features one hundred eighty luxury apartments in true trump style with a golf course and shops attached but that's just one of several projects in india bearing the trump name other developments are currently under construction in kolkata and mumbai the latest projects come despite accusations that trumps president he could present a conflict of interest with critics accusing him of not sufficiently distancing

himself from his family's business interests. so is this trip only about business our correspondent in delhi where ports. well donald trump jr is here he says not on a political trip he's here strictly for business reasons he's here representing the trump organization which he and his brother are now at the helm of since his father became president last year or young last year and yes he's here doing that he's meeting business leaders while he's here he's going on a whirlwind trip around various cities across the country but he is also making a speech on friday which is further complicating the picture of whether there's conflict of interest here is giving a speech on friday at an event a business summit that prime minister narendra modi will also be attending and he'll be giving a speech today discussing the future of indo-pacific ties so he's here for business but but there's the speech as well you know. if you're crook off

a shell or the victim of a smear campaign and last months of itch to have a floppy a central bank project all actually is a chance of having received bribes from a bank so that it could stay in business. a day after he was released on bail the governor of central bank failed mars russia average dismissed all corruption allegations as your children beat on the target of an obvious and well coordinated campaign of some large and commercial banks aiming to discredit the lobby and state walls could. claims he became a target because of his effort to clean up corruption in the country's banking sector. despite his assertion of innocence was suspended from office shortly after his statement. the central bank governor of legibly demanded one hundred thousand euros a month in bribes from the owner of the large fin bank norvig bank gulf. oil

and gas having a way b.p. released its annual and a closely watched benchmark report forecasting developments in the sector and this year's edition is indicating an upcoming slowdown to what was once considered an all stoppable to mount thirst for liquid fuels. automotive companies all over the world are betting on the mass adoption of electric vehicles in the next decades and are not the only ones or oil and gas giant b.p. is anticipating to say it predicts a hundredfold growth in electric vehicles by twenty forty and a corresponding hit to the world's oil and gas sector b.p. forecasts continuing growth in global demand for oil and other make with fuel in the next two years but that demand is set to stop increasing after it hits one hundred ten million barrels a day in twenty thirty five it's the first time b.p. has forecast a peak in the world's appetite for oil it's not just about electric cars increased fuel efficiency in internal combustion engine vehicles is said to offset

consumption too but beyond the automotive sector other factors are said to cause demand just like tighter regulations restricting the use of plastic as well as an expected. greece in the share of renewal balls in the global energy mix to fourteen percent by twenty forty. and a swale us economic crisis is sparked an unusual government strategy it's launching a cryptic currency called the patch row that oil backed currency goes live today and there are doubts too of burke and there's opposition on legal grounds. if you can dispute just how badly venezuela needs a plan hyperinflation shortages and soaring debt have brought the country to its knees and its citizens to the streets. when venezuelan president nicolas maduro announced plans to launch a new crypto currency some view it as an imaginative way out of the crisis and as

a workaround for western sanctions that effectively keep venezuela from raising cash from bonds but if this is going to allow for advancements in international financing for the economic and social development of the country the new crypto currency will be backed by reserves of israel and while old oil gas and diamonds get from the front to the owners whalen allen says the creation of its crypto currency a big fan of the field the factoring problem. the idea is to link venezuela's oil reserves to the value of a petro with one hundred million petro tokens worth around six billion dollars being issued initially but not everyone is convinced venezuela's opposition controlled parliament considers the petrol a ruse to borrow money using the oil as collateral circumventing laws that demand legislative approval from go. and many observers are skeptical that the solution to be managed by authorities like the central bank whose policies helped create

venezuela's woes in the first place. and that's your business update thank you so much for watching. cut. cut cut cut cut cut. cut. cut cut cut cut cut cut cut. cut.

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