tv Business - News Deutsche Welle March 2, 2018 2:15pm-2:31pm CET
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so it just takes organization extreme winter conditions may continue through at least next week lacking sufficient funding and equipment for snow removal many local authorities can only hope that springtime weather is on its way. they're watching t.v. news sold to come as britain prepares to leave the e.u. many companies are worried one of the sectors that could be hardest hit is a pharmaceutical. monica jones we'll have that story coming right up and business. frank food to help watch international gateway to the best connection self arrowed and radio. located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. be our
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guest at frankfurt airport city managed by for. every journey begins with the first step and every language with the first word good can you cook. rico is in germany to learn german and why not learn it from a simple online on your mobile and free. to w z learning course because big german made easy. to. trade was good and easy to win says donald trump fast after the u.s. president's lap steel and on the minium imports with high tariffs u.s. allies are condemning the move and financial markets are heading south. also coming up italians go to the polls on sunday with many parties spiking promises that
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economists say are impossible to keep. and will break that stop the river off pharmaceuticals poor wring out of the u.k. we visit one company's remedy to that very question. and welcome to your business i want to get. well he finally did it despite fierce opposition even within the white house u.s. president's daughter trump has announced new tariffs against steel and imports the plan is to levy a twenty five percent levy on steel at ten percent a charge on many i'm the measure has sent stock markets plummeting i detest trade partners outraged china is the u.s. is main target with the tariffs for years the country has been overproducing steel and aluminum and selling it off and dumping prices donald trump has the moment this for some time blaming china for the loss of tens of thousands of jobs in his country but beijing is less than impressed with this response it's already
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threatening retaliate three measures officially though the tone remains diplomatic . wantons only for china urges the u.s. to show restraint in using protective trade measures and respect multinational trade rules. trump's meeting with the u.s. steel companies left open whether the tariffs would focus on just one country or on all steel and aluminum imports generally the result worldwide insecurity even among america's closest allies. this morning john we don't have a party from the administration about whether or not that exemption will be in place first rodeo and whether or not this will be a unilateral imposition of tariffs across the board the e.u. is threatening countermeasures if european steel production is affected by the terrorists it says it will retaliate with tariffs on u.s.
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products including motorcycles and whiskey we will not sit idly while our industry is hit with on for measures that were thousands of european jobs at risk the e.u. in reality firmly and commensurately to different our interests consumers will be the biggest loses of course in the us the tariffs will mean more expensive cars and elsewhere more expensive u.s. products. let's talk a bit more about the european reaction to those terrorists much as joins me now from brussels aka donald trump talks of unfair trade trade partners including the e.u. say that strums call for tariffs is unfair who is right. protective measures such as these are not necessarily unfair in fact they can be legitimate and in case of china most of the e.u. countries would agree that there is a need to tackle this overcapacity we've seen in the report about it is really the
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way donald trump has done that's the path he choose not following double cio procedures which are for seems for such instances but basically using a loophole in international trade rules which is a loophole in case of a serious national threat if you want to in case of a war that he has chosen and it's this unilateral action that is regarded as unfair now european commission president john closed your house call to those tariffs assess that they would put thousands of european jobs said risk by the e.u. countries are they at all affected we have to wait for the formal announcements here or take a very close look at what we can already say is that they're not there but among the top exporting nations that are hit such as brazil or south korea for instance but the big concern on the european part is the collateral damage that the steel that is intended for the u.s.
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markets could end up in europe. you've mentioned already that it when it comes to chinese steel that europe should actually applaud to donald trump's measures and the e.u. itself slapped terris on chinese steel just a year ago so why does outcry now others a fine difference here the e.u. slap tariffs on individual steel products and followed w t o procedures and that's the key issue in the whole debate only in december japan the u.s. and. in the e.u. all agreed to a new chile to collectively tackle the problem of chinese over production and transaction has now put this alliance at least in doubt all right to get matches there from brussels thank you so much for this. and of course we wanted to know how the stock markets react because shares certainly have headed south in the united states in asia and also here in europe and my colleague daniel is standing
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by for us at the front food stock exchange daniel as the german steel industry taking the news well not positive at all monica the big two still companies to sin and good to have released statements so that they will have to wait for more details in order to really know how all of this is going to affect them but yeah many experts fear that steel exports to the united states could go down by more than fifty percent and many are fearing we just heard this from garrick as well then a possible trade war could happen investors don't like this at all because of this the reaction here at the franc for a stock exchange has been even worse then expect that the blue chip index dax lost more than two hundred sixty eight points this is also happening because even in the united states many question if with this protectionism of the other sectors such as the car industry could be hit very hard as well dow futures also indicate big
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losses there for the start in the new trading day so yeah lots of question marks lots of concern people and big losses here at the stock market morning so those terrorists are really creating and causing ripples all over in frankfurt thank you so much. turning to italy now which is holding a general election on sunday the economy is on the road to recovery but a big challenges remain a national debt level of one hundred seventy percent of g.d.p. and then the europe's largest number of people living in poverty what to do italia and expect take a look. yes but i don't expect much i hope whoever wins will do more. special because i think something could change but it depends on which coalition wins i'm not sure if there will be a clear winner most likely they'll have to compromise and reach a broader agreement. will there be a clear winner could it take months for a new government to come together the italians are watching their smartphones the
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election is mostly being fought online all parties are promising more money some even proposing a universal basic income but even the unions balk at that. frank i mean i honestly find the idea to introduce a universal basic income exaggerated this would allow any italian citizen to have an income but it would be too expensive. italy is still feeling some of the effects of the global recession banks are still struggling with mountains of bad debt and whilst luxury apartments of the rich tower ostentation over milan eight million italians live in poverty some one and a half million mainly young and highly qualified people have left the country since the recession yet a ten percent unemployment here is still above the e.u. average some observers warn that a far greater problem is lurking in the background poll say that eighty percent of
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the electorate simply don't trust the state. the deepest possible free trade deal that's what britain is hoping for with the e.u. after brics it but that is by no means given one sector that's feeling particularly an easy about the fallout from brics it is the highly integrated pharmaceutical industry. these pills can help prevent seizures in adults and children who suffer from epileptic attacks the drug offender is manufactured in britain but can be sold across the e.u. how will all this work after breck's it europe without borders means that we have products which move present their components for use that phrase their ingredients will move seamlessly across europe many times to produce the final medicine this is our number one worry is a complex supply chain sudden disruption means you can have medicines medicines for critical conditions not available for patients in germany in france and spain i say
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a japanese giant with its european headquarters near london is preparing for the worst its european boss david jeffries does travel back and forth to brussels and the hope of hammering out common procedures after bracks it but i say also increasing their presence in germany to be able to duplicate their testing and approval process we will put in place all the measures we're spending a lot of money doing this we're having to prepare for the heartbreaks it so i think most of us are doing this we may have to stockpile medicines to make sure our patients aren't damaged pharmaceuticals are one of the most important industries in the u.k. they benefit from access to word leading universities like oxford and cambridge but bricks it has been shaking up the whole scientific community at the moment many of the u.k.'s top universities receive a large proportion of their funding through the e.u. and they are benefiting from freedom of movement for its scientists there is
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a question about the funding for all the programs as we understand it's guaranteed by the u.k. government to twenty twenty what happens there ofter if you care isn't involved there will be less money what happens there for all programs in europe the european met since agency has so far been in london but it's in the process of moving to amsterdam. the u.k.'s pharmaceutical companies hope that they will stay closely aligned with all the decisions the agency will make in the future for the sake of their industries first and also for the benefit of patients. as a business update here on the w. you can always find out more on our website or on our social media excuse you want . to. try to.
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a. scare for europe our series your romance. d.w. . moving in fighting for the place taken seriously in the war of oh boy here's what's come out women strong. superhero team. the smart tax smart state funded jim frank recently dangerous touch told a former. european stocks during performances such. luck. pretty lucky to have concerts every weekend cut good in concert. to. play live to. a news analyst live she's not seen the one
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single. call to change does not include his time since two whose side by. play people have put big dreams on the big screen play mother movie magazine on the w. oh. hello there and a warm welcome to our latest edition of your romantics where we are never lacking for a wealth of culture and lifestyle topics and today is no exception. also hope.
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