if you thought the trade tensions what 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 i'm good 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 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 while the number of workers an 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 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 were 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 strangers you don't usually begins to deplete. however d.-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 so it's

a little bit. stimulation of the strings also of the german carmakers in the u.s. on the other end u.s. consumers seem to a lot of german and japanese cars for terrorists are imposed and then first of all prices will rise over american customers to pay for it 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 a little bit 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 of the economy off employment so whenever anything is present in the labor market or the economy then this is. anyone or anything with threats and here military security and that we think that way how they justify that brand and assumes trumps on again off again relationship with kim. has shaken the markets off the u.s. president called off a historic meeting with the north korean leader what reaction the you see. all the reaction of the investor has changed during the day a person who 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 were a 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 markets here on the economy so that's why stock prices came back a little bit during the day so the losses in a huge impact there but that's forcing to make decisions on geopolitics finally investors getting stuck in the service months thank you very much. the diesel scandal has officially reached dima germany's transport thora he says the calm maker installed illegal defeat devices this must say these bends a veto delivery van will have to recall six thousand of them the agency says a dime lee 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 dams. germany's that leading lender of 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 u.s. 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 euro's 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 savings plan to cut jobs isn't saving the bank any money torture's share price fall in 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 dortch of 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 up to. current results leave us no other choice we need to set in place the conditions in order to sustain long term profitability. lundquist even 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 informed 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 georgia 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 i ignore cuffed couple 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 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 shiro 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 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 i only 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 and i owed 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 controls and strengthen the economy but the country fell into a rapid downward spiral earlier this year now it's holding out his hand to the international monetary fund once again. i don't intend to vote again what's 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 places i'll be back with more tomorrow same time same place. such. cut. cut cut. cut cut cut cut cut cut cut. cut. cut cut cut cut cut cut cut cut cut cut. cut.

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