the countdown to trump's trade tariffs has begun signing off the new levies on friday the e.u. should be examined and is ready to retaliate also coming up we take you on a brief world tour and join the crowds at. the world's largest travel trade exhibition and some chinese migrants are heading back to their roots bringing slick city skills with them now china wants them to boost growth in the countryside. and on your winter and this is your business update donald trump has made good on his threat signing off on import tariffs twenty five percent on steel ten percent on olive minium he blames other countries for america's massive trade deficit still only accounts for two percent of world trade and yet the tit for tat tariffs and penalties are dangerous the ripple effects could escalate into a full on trade war. this is the moment donald trump made as official surrounded by

the people whose job he claims to be securing the u.s. president signed off on plans to impose hefty tariffs on steel and on a million man point. the reaction was swift the world's largest trading bloc the european union says it acknowledges some of the president's concerns but it rebuffed claims that the protectionist measures u.s. national security. we have been in talks with the american friends for quite some time to explain to them that whereas we share the concern of capacity in the steel sector this is not the right way to deal with it and it is certainly not the right way to excuse to include europe in that because we are friends we are allies we work together we cannot possibly be a threat to national security meanwhile the w.t. you know whose job it is to manage global trade relationships appear to signal that the tyrants weren't yet set in stone there's always still time to say as i

understand it this measure doesn't apply for another fifteen days and there's a process as well for those members seeking exceptions exemptions to do so so there is still time certainly is still time to discuss this but on the grounds the potential threat of a trade war is a ready being felt in some on usual ways take for instance the e.u. threat to retaliate by taxing u.s. products like harley davidson motorcycles this dealership in frankfurt germany has actually experienced a temporary surge in business. what we're noticing is that because buying a harley davidson is an emotional thing people who've already decided to buy one this season are coming to us from the dealership and saying i want to order my harley now before anything happens so that i have that deal in the bag at least before the. deals on motorcycles are one thing deals on steel are another with just two weeks to go before the tire of come into

effect from international trade partners will have to act fast if they're to secure exemptions. and germany is a major supplier of steel to the u.s. now chancellor merkel has weighed in on but tariffs here's what she had to say to german business leaders on friday. because in our so we're also concerned about the imposition of tariffs on session products as a government we have a clear commitment to multilateralism we support the european commission as it seeks talks with the well trade organization and the us but also with countries where there could be a knock on effects like china but i believe that channel of communication should be kept a pencil and the commissioner has also made that clear. because the field is going to go in the sun let's head over the pond on wall street for us quarter yes now the tariffs have been signed off but the markets seem to have taken it in their stride

. so it's really surprising hold well wall street has been dealing always we've long was the situation of for the week wood chips are up by about eight hundred points or seoul just a day of the dollar jones industrial average again a good four hundred points my sense at this point is that most investors believe that a trade war can be avoided so we will see it in pretty much two weeks if that feeling is right because that's when theoretically officially those tariffs seville kick in and then on top of it we've got hot but not too hard labor report here on friday three hundred thirteen thousand new jobs around nine hundred thousand jobs more than expected the biggest job growth in one and a half years but the good news in this job reports at least for wall street was a bed where wages haven't really increased that much saw we see robert robust growth here in the u.s.

but no clear sign of huge inflation and that's also added to the good atmosphere here on wall street at the end of the week ok well that's going to forget all about the tariff talk for one week at least moving on to the notorious pharmaceutical boss martin shrilly he's been sentenced on fraud charges what's the story. well hollywood couldn't have come up with a better script then this two years ago martin really got in famous for buying the rights for a life. supporting drug and after he bought those rights and he actually increased the price for that drug by five thousand percent and he really got in famous for that but what caught him at the end was the security fraud and that's what he got sentenced for here on friday seven years in prison and prosecutors said look for at least fifteen years and his lawyer thought that twelve to eighteen months would be

sufficient so now it's seven years for security fraud he is thirty five years old he can hope to get out of prison when he turns forty one so really of pretty dramatic ending to this and the tire case bitter pill to swallow you could say yes call to have a right we can like you very much. where you can see the whole world in one place where is that to explore different cultures trying new foods exchange ideas well the world comes to bubblin the i.t.v. is the biggest travel trade show on earth and it's on now one hundred eighty nations competing for your cash. lounging on the beach in turkey is how many russians and germans have traditionally spent the summer holidays but political unrest in the last few years has kept many people away now turkey is hoping to attract a new set of visitors. turn to open the doors of the east

asian countries including china india japan south korea and there is in malaysia east asia in particular has a growing middle class and it's not only turkey that wants to attract tourists from that region a recent report predicted international travel to rise another five percent this year. and a growing global economy more and more people can afford to travel and good news for exhibit a see here they also do muslim millennial for example i one of the fastest growing travel of markets but the increasing number of tourists also causes problems. popular destinations like barcelona are struggling with too much tourism the city can cope with the millions of visitors who crowded speeches in streets every year much to the anger of residents who complain about housing shortages and noise officials want to find solutions that keep both sides happy we

take to manage a city with good reason not a city deficit but a league with me and to the ship but only when it will involve a degree in the same system all will be easy but so not being resident or being visitor one thing is clear tourism is on the up that's good news for the industry but host countries will have to find ways to manage the influx of visitors. i'm going to continue our journey over to asia now over the last twenty years millions of poor chinese have migrated from their villages to the big cities in fact they've been the engine of china's phenomenal rise to become a global player and now the government wants them to move back home again and to recreate the chinese dream online. the small village of being low in rural china is home to some twelve hundred people for many years those who lived here worked primarily in agriculture many were extremely poor. but

technology has enabled some farmers to branch out into other sectors french and shunk used to work in agriculture now he's using the online trading platform tile bio to sell costumes. when you're a farmer you work the fields from generation to generation we never thought about working on a computer we always thought that something for people in the city to do. this sign reads online commerce is your way to happiness. just five years ago this was an unpaved village street the online business boom has brought increasing prosperity to the area. benching show now employs fifty people on the internet has opened up a huge market for his products clear eyed about the only. commerce ally's local resources to be used efficiently you can sell products from your region and still have all the local advantages. your father knew the.

french in show now makes over a million euros a year in sales he's even had some orders from south korea and the united states. friends costumes are packaged and sorted in a recent new stop this new just eccentric one day the former farmer would like the constant term his village to be born and sold all over the world. the european union is reportedly preparing to add three countries to its tax haven blacklist st kitts and nevis the bahamas and the u.s. virgin islands will be the latest additions as an amendment to a list that was first drawn up back in december after details of widespread tax evasion were revealed in documents known as the panama papers the three island states were originally spared from inclusion after being hit by hurricanes last year. and that wraps up another busy week of business if you want more check us out

on the social media for me and the d.w. business team here in berlin have a great weekend. enter

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