if you thought the trade tensions were think again american national security is under threat from germany's car industry also says donald trump now he wants to throw up tariffs on imports also coming up anger management a bank shareholder meeting the new chief executive confirms that thousands of job cuts investors and stuff on the not. tough times for argentina's economy despite the president's reform plans is recent call for an i.m.f. loan to the little too late for the country's businesses. i'm daniel winter and this is your business update it seems every silver lining has a cloud after news of china lowering car import tariffs yesterday came the news that america wants to drastically increase its own duty it's the reason national

security merica claims the likes of german car makers the damage in the u.s. economy german cars remain popular in the united states that's a thorn in the side of u.s. president donald trump who maintains that foreign imports have eroded the domestic car industry over the past two decades car imports have risen by fifty percent well the number of workers an american car plants has been falling german factories in the u.s. have added thousands of new hires german ata makers account for one in six jobs in the u.s. car industry but now donald trump is reportedly mulling a plan to impose in part tariffs of up to twenty five percent on the. european carmakers at present pay about a tenth of. carmakers like mercedes b.m.w. and fox lagan which manufacture in the u.s. would be less badly hit than companies like albion porsche. last year almost half

a million german cars where exported to the u.s. not only german car associations but also do you are concerned about transplants if no. u.s. food unilaterally raise kateri strange does he do obviously against the deputy. however do you remains hopeful that his solution complying with international trade rules can be found. the opinion remains divided about whether in part terrorists would actually benefit the u.s. car industry some experts say the move is unlikely to create new jobs. well earlier we spoke to earlier note from the association of german chambers of commerce and industry asking him what the measures mean for the american market well the american market is extremely important for german problem in your figures and that's why they also have a lot of investments on the sector sorts of orbit. and underestimation of the

strains also of the german carmakers in the u.s. on the other end u.s. consumers seem to of german and japanese cars for terrorists are imposed and then first of all prices will rise over american customize to pay for that it's a question of who is making the better product and that's what i meant with competition you have to there's a competition in the car sector and the americans. try to sneak below that bar and say we impose tariffs and everything will get easier that will not be the case and i asked our wall street correspondent sophie szymanski how america justifies calling foreign car imports a national security threat. well daniel i think it's really important to understand here the way that will go wrong is actually defining national security and he refers back to the trade expands an act of nine hundred sixty two and that is

saying that basically national security military security is the same thing or has to include security on the economy up employment so whenever anything is present in the labor market or the economy then this is. anyone or anything with red military security and everything exactly how that justified that brand and it seems trumps on again off again relationship with kim jong un has shaken the markets out of the u.s. president called off a historic meeting with the north korean leader what reaction do you see all the reaction of the investors change during the day a person could really see a drop in stock prices especially of the stock prices or stocks listed in the dow jones two hundred sixty points in the negative territory but then it seemed like invest this way changing their assessment office situation and they came to the

conclusion that eventually it's not going to have fats a big impact on the market here on the economy so that's why stock prices came back a little bit during the day so they're monsters in a huge impact now but they're forcing to make decisions on geopolitics finally investors getting stuck in the service months q thank you very much the diesel scandal has officially reached dima germany's transport or as he says the comments were installed in legal defeat devices and must say these bans a veto delivery van will have to recall six thousand of them the agency says dima use the technology to switch off the exhaust cleaning systems during driving which would boost nitrogen oxide emissions dima will have to remove the prohibited software from its fans. germany's a leading lender a dollar each a bank is slashing over seven thousand jobs as part of an overhaul under new c.e.o. christian c.

ving his wife back in two thousand and twelve was the world's second largest investment bank but since then it slipped all the way down to number eight that's coming after the us banks credit suisse from switzerland and britain's barclays there's been a steep decline in revenue to fall in from over thirty three billion down to twenty six point four billion euros what i know wonder shareholders are up in arms many are directing their anger at supervisory board chief. he's been in the positions in twenty twelve and is accused of steering the bank in the wrong direction but christians even plan to cut jobs isn't saving the bank any money tortures share price for ling on wednesday to its lowest in seventeen months and it's not just the investors who are unhappy. they came to express their contempt for deutsche bank protesters who gathered outside the annual shareholders meeting in front foot to see germany's largest lender as an example of everything that's wrong with the

financial world the announcement of more than seven thousand job cuts just comes weeks after the bank appointed a new boss the uk to current results leave us no other choice we need to set in place the conditions in order to sustain long term profitability. seeing for us it's on shuffle one thing that most people can agree with is that something needs to change at deutsche bank as most bang for i need a bank that is competitive on both a national and international level and that's not the case now. the moment. calls are simply too high and they need to go down dortch a bank has lost its edge in recent here is an issue its c.e.o. is determined to address your mission is going to shift the balance in our business so that our results fluctuate less this is the only way we will be able to sustain

profitability and build on our strengths and what else i ignore cuffed. of bot. after three consecutive years of losses the new boss is intent on shaking things up he wants to focus on the german market coupling innovation with old fashioned banking. truck drivers in brazil blocking major highways around the country for the fourth consecutive day in protest against rising fuel costs the transport difficulties of lead to food shortages in some supermarkets with perishable goods likely to run out in a matter of days several petrol stations as well as brazilians international airport are running low on fuel the cost of diesel has risen twelve percent this month in brazil on wednesday congress had rushed through a bill to eliminate the tax on diesel but the strikers will not desist until it becomes law. just last year president maree show machree was hailed for his

vision for argentina's future but now the leader is grappling with a peso at rock bottom the snap reaction and interest rate hike to forty percent that's the highest in the world now he's seeking a credit line worth almost twenty billion dollars to fund the government through his last term of the business owners might already be too little too late. maria florencio humana opened tech clothing store in two thousand and sixteen but soon she'll be shuttering if for good after struggling to pay her mounting bells. there were a few but you know all of last year's tax and i own the alarm system since last year i haven't paid the rent on the shop since february and i only shop expenses going back to february i also three months of electricity bills which have been piling up and i owed on the loan that i took out to keep my shop going.

more and more buenos aires shops are going out of business argentina is soaring interest rates and a plunging currency have made it impossible for the owners to stay open. it's a stark contrast to president mauricio mccready's election in two thousand and fifteen he promised to boost caps to controls and strengthen the economy but the country fell into a rapid downward spiral earlier this year now it's holding out its hand to the international monetary fund once again. i don't intend to vote again what's more i don't believe politicians any of them i don't believe a word that they say anymore. the i.m.f. is still a dirty word to some argentinians who fear alone will mean crippling austerity and a devastating economic collapse similar to two thousand and one. that's it for your

business update if you want even more you can check us out online on social media just search for d w business in the usual places i'll be back with more tomorrow same time same place.

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