if you thought the trade tensions will think again american national security is under threat from germany's car industry 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 thousands of job cuts investors and stuff. and tough times for argentina's economy despite the president's reform plan is his 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 duties 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 in american car plants has been falling german factories in the u.s. have added thousands of new hires german automakers account for one in six jobs in the u.s. car industry but now donald trump is reportedly mulling a plan to impose impart 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 then companies like algae and 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. kateri strange does he do obviously he begins to deplete. however the e.u. remains hopeful that a solution complying with international trade rules can be found. opinion remains divided about whether imported 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 calming effect. and that's why they also have a lot of investments on the sector all sorts of a bit. and underestimation of the strengths also of the german carmakers in the u.s. on the other end u.s. consumers seem to of german and japanese cars the terrorists are imposed and then

first of all prices will rise so american customer has to pay for that is the 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 the 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 expense and 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 threats and we're military security and everything exactly how that justified that brand was seems trumps on again off again relationship with kim jong un has shaken the markets out of the us president called of 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 investors was changing their assessment office situation and they came to the conclusion that eventually it's not going to have such a big impact on the market here on the economy so that's why prices came back

a little bit during the day so they're not sensing a huge impact there but that's 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 thora he says the comments are 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 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 the leading lender deitch a bank is slashing over seven thousand jobs as part of an overhaul under new c.e.o. christian saving 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 falling from over thirty three billion down to twenty six point four billion euros what i can no wonder shareholders are up in arms many are directing their anger at supervisory board chief. he's been in the positions and twenty twelve and is accused of steering the bank in the wrong direction bought christians even this plan to cut jobs isn't saving the bank any money torture's 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 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 octu. current results leave us no other choice we need to set in place the conditions in order to sustain long term profitability. cricinfo sits 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. my phone calls are simply too high 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 muscles and 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 know cuffed. 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 and wednesday congress had rushed through a bill to eliminate the tax on diesel the strikers will not desist until it becomes law. just last year president maree c.e.o. 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 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 shutting it for good after struggling to pay her mounting bells. there were a few but you know all of last year's tax and. on the alarm system since last year i haven't paid the rent on the shops. and i only shop expenses going back to february i also three months of electricity bills which have been piling up on the loan that i took out to keep my shop going. going to the local. 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'm gutted i don't intend to vote again once more i don't believe politicians in 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 place and i'll be back with more tomorrow

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