the trade war ramps up china hits back at trump tower of speccing bruised two scenes on u.s. food imports that will hit american farm states many of which voted for it don't want to trump also coming up against reform fraudsters railway workers don't a two day strike against french president to money went back on the efforts to make labor laws more flexible. and changing course a successful economic reform up portugal set sail for a brighter future everything from all-stars to prosperity. this is your business update on helen on free thanks for joining me it's a faceoff between the globe's two top economist says market tension over a trade war between the united states and china beijing's take the tariffs on u.s.

imports have kicked it the government says the mood the move is to safeguard china's interests and balance losses for new american terrorists. these american avocados are destined for the chinese market but they might not so so well anymore now that china has imposed tariffs on fruit one steel pipes and scores of other imports from the usa the rate of fifteen percent on one hundred twenty items and twenty five percent on eight others. the chinese government says that people support its move though some in china regret the ensuing rise in prices. it's definitely going to have an impact many fruits that kids love only grow in foreign countries we don't have them in china that is a direct impact. it's absolutely right to impose tariffs because i've seen the news about the us crapping trade deals with us it's right to fight back in. the new turn if the china's initial response to the u.s.

move to slap tariffs on steel and alimony m imports the u.s. is also threatening to impose further terrace on sixty billion dollars worth of other chinese imports a year over what it terms the theft of intellectual property china by contrast is raising tariffs on about three billion dollars worth of u.s. imports. beijing says it will never submit if the u.s. launches a trade war and says that tariff increases are in line with world trade organization rules to protect its interests still the scale of china's new tariffs is modest the move looks more like a warning shot than a major counterattack the u.s. is china's largest single market a full blown trade war is the last thing china would want. says and i was in seoul shelby on monday all three u.s. president trump renewed his attack on its relationship with the united states postal striking the dow down almost three percent claims u.s.p.s.

is losing money on delivering amazon and taxpayers a financing the law says analysts point out that the online retailing giant payments actually supports the postal service is all the money losing businesses and its massive pension obligations they say almas is helping the u.s.p.s. float but estimates say amazon pays the u.s.p.s. roughly half of what rival pulsatile services would be charging. it affronts what could be three months of rolling rail strikes on the way in the cessna series of walkouts suspecting sectors from energy to garbage collection is in opposition to french president to money when michael's labor market reform agenda. rail workers are especially angry with the government plans to do way with train drivers rights to retire at fifty two the administration also wants to make cuts to their current holiday entitlement to fifty days per year those kind of

privileges cost a lot of money and state owned railway s.n.c.f. has accumulated a debt burden of forty five billion euro as the disruption to france's regional and long distance rail services is expected to last for three months before unions involved will strike for two days and then work for three preprogrammed chaos. workers in other sectors will also be striking. electricity and gas sector workers will be joining in the dispute there is a sting plans to privatized their industry and want to remain a state employees trash collectors are also going on indefinite strike they want workers who have to deal with hazardous chemicals to be able to retire earlier and air france employees are battling for a six percent wage hike. the unions have coordinated their own snot skillfully attacking the government from several sides at once that's because many voters chose him on his platform of making labor law more flexible and ending privileges

in some industries but analysts warn that if public life in france is paralyzed for more than two weeks or so the government would face increasing pressure to back down. portugal is a country which knows something about picking itself up a dusting itself off the financial crisis certainly hurt austerity even more first the country pull through and start spending again well before everything looked rosy annual growth is now at two point seven percent so we took a trip to a warmer and brighter looking part of europe business is going pretty well for even all grist his co-operative has been making wine since nineteen fifty seven but sales haven't been this good for years. in the beginning there were only this part and then have to upgrade it to increase the capacity then we buy those we will double the capacity we. just side by

side because we are in the maximum capacity of production and we have more demand and with what can you produce around thirty people work in the couple where a co-operative. working conditions have improved for most portuguese in the past two years thanks to a raft of reforms including a higher minimum wage instead of starting economic growth it's accelerated it at least that's how the portuguese finance minister sees it we have done some increases especially for the most. people for the pensions but we have done this in the. correct way by complaining the growth of the spending with the growth of the g.d.p. portugal has also tried to stimulate the tourism industry. regulations have been eased for hotels and restaurants and as well as cutting spending the government has also cut taxes and the gamble is paid off millions of tourists are now visiting

portugal especially lisbon to izmir the important thing back to the recovering of always cities but now is having an important impact on the developing rural areas the couple where a cooperative is sixty kilometers from lisbon but the one produced here bears the name of the capital it simply sells better to the increase of tourism in porto reasons really trendy the labels are really important nowadays but not everyone is profiting from the new wave of tourism rising property values are changing neighborhoods low income locals are being forced out like fernando tex era he grew up in port on the banks of the river he can only afford to keep his studio as the new bars and restaurants drive up the prices. got a new one. there are no portuguese people that can afford to pay rent in this area not one i was born here and i was thrown out so a hotel could be built and i have to move way back. if we prolly

even all those things the government should make sure everyone benefits from the economic upswing but he remains optimistic that portugal can find prosperity without the need for staring. this month kicks off frankincense season in oman and the middle east now the residents harvest it this time of year to create an aroma that many of us associate with christmas the trade has five centuries but modern life is taking its toll. frankincense is using essential oils in french perkins and that has partly helped drive global demand you know school declared part of the door for region it's not a no man's land of frankincense a weld heritage site. but if you go. frankincense is still considered a precious well the trees are rare in order to protect them we collected trees from

many places in the door for problems we protect them at this reserve for natural frankincense trees. you need to look. you've got the. efforts here could help protect the bulls will your trees that produce the resin for frankincense for trade in the future demand is so high that the trees here do not have enough time to regenerate. but there's more to that you know school site here this area was also an important stop on the ancient silk road which runs all the way to china in those days frankincense was traded in exchange for spices textiles and silk. well the gulf nation of the trade has discovered its biggest oil fields since nineteen thirty two it's located off the country's west coast and will dwarf this week the best trade is a major oil producer is already ranked fifty seventh in production pumping out around forty five thousand barrels of oil

a day. now with new technology you usually expect a few teething problems and drones are no different russia's postal service has been taking them for a spin to deliver apostles but things didn't go quite as planned during the day. a russian drone was supposed to deliver its first partial from one remote village to a neighboring one. the postal service wanted to celebrate the occasion. i'm very happy that we're launching this project here today which should on the dotted lead be successful. however the drone didn't get far. it crashed after just a few seconds in the air. nobody was injured. but the dream won't be flying again any time soon. that's it you're up to date with the latest from the wild old business on how the homefront thanks for your company and

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