just over vanished really is something that we should accept in this being. right agrees nascent your mother was on that effective plan a plane of thank you so much for sharing your thoughts with us on the it was good to talk to you thank you. i hear what you can do wus business news coming up shortly due to new. book fourteen for the white house. rounded straight you know but the trouble is your favorite scene. in the gym is battling to bring them out shortly and you'll be told that the entire country champion free and clear and for the last sixty years. for mines. earth. worth

saving google into those two stories of creative people and innovative projects around the world on dinos to protect the climate and boost green energy solutions and global warming to use the influence you use of global three thousand on t.w. and online. to get. the clock is ticking for the e.u. to strike a deal with washington aimed at accepting the block from u.s. tariffs on steel and alan many of the deadline is just days away we talk to a trade expert about the various options and also in the show germany's refugee workforce is growing more and more finding jobs as skilled workers even though many lack of qualifications on paper. on the political turmoil in italy weighs down on the euro and the stock markets alike our financial correspondents tells us why

the lower euro is not boosting shares. but have to do w. business top german and european officials are pressing the u.s. for a permanent extension to its threat of high in. terrorists for metals imported from europe which are expected to go into effect this friday eve trade commissioner cecilia amounts to german economy minister peter altmire i expected to meet this week with wilbur ross of the u.s. commerce secretary new trade representatives failed to win a permanent exception to the u.s. terrorists at the start of this month he'll policymakers say they will introduce counter measures that could damage economies on both sides of the atlantic if they do not get a permanent exception german chancellor angela merkel said on monday that she is willing to continue negotiations and hopes that there won't be a need for retaliatory measures. chance in their group using the opportunities of

globalization well that the same time reducing the risks is something we can best achieve together but instead of that we see that multilateral initiatives are being questioned international agreements and institutions are being weakened solutions that have already been found i'm not finding support and you know lecture of the approaches are being launched this is worrying. so the chancellor is worried and for more i am now joined by the economist to the macro economic policy institute at the house but the foundation a think tank that works closely with the confidence of german trade unions good to have you with us so washington is definitely shaking up global trade to put america first the e.u. is now looking to avoid tariffs what kind of deal could there be i think a president is the man big photos that means that we don't get any terrorism now exports but we say ourselves that we only export

a certain amount of steel and aluminum to the united states this has happened in two thousand and two as well and it didn't really hurt so much so i think that was a. story that would be something that you could offer to the united states why isn't he asking for quotas riser way rather than threatening terrorism twenty five percent on steel and ten percent on all the many other as far as we know he is exactly demanding photos he has demanded from other countries as well for instance a south korea with which he could already a deal they accepted quotas and i think that there's something that we can of done a drum to piece the situation a little bit without hurting our exports too much when you just mentioned that something similar happened in two thousand and two and the george w. bush was actually imposing terrorists on foreign steel and he had to basically take all of that back because of complaints of his own industry. if there isn't

a deal by friday could we see trump being forced into basically making the same mistake i absolutely think so first of we have to see this is nothing new he is and is the only one who demonstrates the international trade system george bush already did that this is also something that we have to you know it's not that of selling everything and doing something completely new and the other question is really yes of course it's only two hundred thousand people it's working in student aluminum but a lot of industry construction manufacturing is dependent on steel it's twelve point three million people work in those sectors they will be hurt by the terrorist by the higher prices and we've already seen that also playing out in two thousand to two hundred thousand jobs were lost because of the increase in prices and then a lot of pressure came to president bush and that he had to withdraw from the whole terror thing so i think that will play out similarly or is very likely to play out

the same way in the united states well given that scenario that you were just describing there why do you think the u.s. agreed to extend europe's exception from tariffs in the first place plan months i'm not quite sure because this is a quite apart process we don't know a lot about this and we know that donald trump is really a little bit flip flopping here and there and perhaps he doesn't have really a strong hand he knows that there's opposition domestically so he also tries to get a deal. and this is why you spectra king so much so i'm not quite sure whether he is as firm as we feel right thank you so much phil filling us in on all this fog in the economist at the macro economic policy institute of the hans but the foundation thank you so much. more and more of germany's refugee community are finding jobs that's according to germany's official employment office it claims some two hundred sixteen thousand refugees are now in jobs making social security payments and

that's a jump of about sixty percent over last year researchers say that the data suggests that fears of massive unemployment among refugees are unfounded the need for skilled workers is so great here in fact that some employers are cutting corners to give experienced refugees a job even without official training certificates. he's only twenty four years old but already a well rounded craftsman use of asa han he worked as a carpenter in syria for six years he also sewed in his father's tailor shop there he made everything from curtains to upholstery and even fabric auto interiors. and hutton ghosts which we had a big workshop with a lot of space you'd have been wise so things there were a lot of businesses would bring us work and we sewed and taylor that workshop is how my father made a living. and in the condition of my fun things were going to. use of alcohol and

he has been recognised as a war refugee and has been working for this small on a maker for two years the start up stitches ultraviolet resistant on ngs and mounts them for customers even this young company in a niche market worries about finding enough skilled workers there are hardly any more good stories in germany its owners say. no no it isn't wasn't on and we have contact with other on makers and we see that skilled staff are in high demand those who have learned the trade are then turned off of it because of the heavy working load and it's very difficult always looking for new people in for. the manufacturer already has two permanent employees and a steady stream of in turns including at the moment marlon mostafa. he has from aleppo which was a textile hub before the war there the thirty nine year old employed twenty five people in his workshop. which. i have experience as a tailor of men's and women's fashion i could even open

a tailor shop after washing maybe even a large workshop were a lot of people could common work for me i can employ fifty people perhaps even one hundred s. in a shop a long time to ship from sea to i she me to. most office current managers are giving him a good start towards his goal they're banking on both syrians textiles experience even if the workers have no qualification. on paper. of all the name on this it's down to the company not to insist too much on certificates or exam results that's a typical german obsession i think that these are the only things that matter when it comes to employment criteria. german language ability is still a must for angle and colts even if their employees skills are top notch they don't want misunderstandings and improperly cut fabric so they insist their staff take german language courses the need for such language skills is self-evident to use of fossil honey after all he says he does now live in germany france has been the

euro reached a seven month low against the us dollar in trading today this us markets react to the turmoil in italy where new elections are looking more and more likely it's already been a rocky year for the euro so far off the gaining at the beginning of the year on the back of a strong global economy the euro fell against inflation concerns and a stronger u.s. economy they fought back through march before being hit by a string of challenges declining exports due to the currency strength fears of u.s. tariffs and worries that economic growth in the euro zone was speaking the election of a populist government in italy on the possibility of it wanting to leave the euro have only further to that slump earlier we spoke to our man at the frankfurt stock exchange and i asked him how the markets are handling all this turmoil. the very very worried decline of the euro has been strong on the bond market the market for government bonds there's been a sell off in italian government bonds these sell off means that the average

yield the interest rate on italian government bonds has risen steeply it's above three percent for the first time in four years at the same time the guild on the german ten year government bond has fallen quite significantly it has fallen below zero point three percent this spread the difference between the yields on italian and german government bonds and the widening of the spread indicates how what what kind of potential for disruption investors are seeing right now in the euro zone we're talking of disruption night i know that the euro is is down but shares and do into well i mean which ones are the hardest hit. well the banks bank and commands bank book both shares are down around about five percent at the moment. for the first time in a long time below ten euros again and on the stock market we're not even seeing this reflex we often hear or see when the currency is down not even exports

as can profit it's not even the shares of companies that can benefit from the weaker currency are in demand the dax the whole index more or less is down today and right conrad who's in there reporting for us from the frankfurt stock exchange thank you so much. and that's your business update at this hour here in t w four more you can always follow us on twitter and facebook check it out i'll be back with the latest within the next hour of c.n.n. .

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