here it's a last ditch attempt to dodge us terrorists ahead of washington's imminent decision but at its paris conference the o.e.c.d. fires a warning shot saying any escalation of trade tensions would hate global growth. and an exclusive interview with g w at the conference german economy minister paid to admire says there's been no winners in a trade war. coming up new developments in italy could stave off a fresh election global markets like that will speak to our new york correspondent . and prosperity returns to court. makes a robust comeback. this is your business update on how it all free in berlin

a glad you could join me well it is their last chance european officials are trying to hold back the u.s. from hiking terrace and o.e.c.d. ministerial meeting in paris both sides have their lists of targeted goods already drawn up while the organization for economic co-operation and development repeating its warning against import duties at the same time as cutting this year's growth for cost a warning in itself. under mounting pressure the e.u. met with u.s. delegates for talks on the sidelines of the o.e.c.d. summit in paris the europeans want to convince the u.s. to cancel planned terms on steel and aluminum due to kick in on friday u.s. commerce secretary wilbur ross remained unfazed by the european haste. and can be negotiations with or without tariffs and place good news there are plenty of tariffs the has in place on us and so it's not that you can't talk to us because

the terms. e.u. trade commissioner cecilia mao strome rejected that approach she warned of retaliatory measures including a trade by the united states and the injury does to our industry and that could mean tariffs on many u.s. products including cranberries peanut butter orange juice motorcycles and whiskey the ongoing trade disputes with its uncertain outcome has tainted the atmosphere and is likely to affect the german economy to the o.e.c.d. has downgraded germany's economic growth prognosis from two point four percent to two point one percent. and it is a w exclusive all paris correspondent lisa newest caught up with germany's economy minister pays out live at the conference. mr what is the you offering the u.s. in these negotiations we have thirty tables a concrete offer. last week and so if you haven't the heads of states and

governments we're meeting and this includes reciprocal arrangements for better access to the markets for industrial products including cars it includes a form of w t o in order to make it more efficient and to to improve the efficiency of the epilog body it includes an offer to talk on better access for l.n.g. gas to europe and as an important issues because we believe it would be better to cut try to. instead of increasing them we believe that we need more free trade on a global scale and not less and therefore we have we have tabled as proposal the american president will take his decision tonight we do not know the results and according to the decision to be taken of course europe will decide on its reaction and europe is united europe is firm so i'm very confident that the

message from from the european commission and from germany will be in parallel if the talks do fail how badly will that the german and the european economies. first of all we should not speculate second. the european and the german economy are very robust so i do not believe in immediate effects but what we should try to avoid and this was repeated by the french president as well in his speech today is a commercial for a commercial board that would. would go on for months and for years would of course undermine trust in. european and american markets it would make. products more expensive for the consumers and therefore does is what we want to avoid it's not in the first place about short term effects it has got to long

term developments other markets available to take up the slack if exports of steel and aluminum to the u.s. go down well we have. according to the decision that will be announced by the president we have some homework to do it is prepared to first of all we have to avoid it steel who was not anymore coming tonight it states being deviated to europe this would be an undesired consequence second we have to see how we can. how we can serve the interests of our steel and aluminum industries and companies we are in talks with them and that this will be carefully considered and is cited as soon as we know what exactly will happen thank you very much. german economy minister there in

a d w exclusive well italy is still in political limbo but financial markets one says hysterical about the situation on wednesday the market is factoring in less of a chance of new elections the losses on choose day you may well remember they were huge analysts now putting that down to an over reaction the yield on ten year government bonds edged away from those four year highs european central bank officials are reported as saying the e.c.b. sees no reason to intervene for now with no signs of into bank stress among lenders the e.c.b. we're susie's italy's crisis primarily as a political one. a financial correspondent so fishermans he is in new york sophie how is all of this playing out on u.s. markets. yeah well it could not come as a surprise has a number to wall street is back on the green correct we could see a turnaround in stock prices on wednesday and yet there was this moment of shock as

opposed reaction something that we have observed many times people when there are political news that are not directly impacting american investors like the breakfast for example and then we see the markets recover other quickly you must not forget then that it is you a sense like these investors simply create their own buying opportunity by letting stocks drop and then they go back and participate in the rally or outward trends a quickly an exit in italy from the e.u. it's probably the worst case scenario but if and when this might happen is not bothering investors on wall street too much of these at the moment all right let's move on then look at some other news it seems the amazons invading the last bastion of brick and mortar stores. yeah for that is pretty exciting this development for amazon and for consumers a scary one for competitors amazon have been trying to get into the market for

rover it on different ways perth with their delivery service amazon pressed then with buying the whole foods market chain and now with the opening their own amazon gold story consumers walk in put everything they need into their back and leave no need to check out instead they are being charged online in their amazon and that is the paying to a secret new ai technology that is able to identify people and track their movements amazon is planning on opening at least six more stores than this year alone and the exciting question is are these simply stores for branding making the stock of amazon more interesting to investors or is amazon planning to actually implement. this new technology in their whole foods market food for thought safety szymanski own of wall street good to talk to you as a. fortune has managed to switch from austerity to prosperity now following the financial crisis the socialist government returned to power raising the minimum

wage boosting welfare and reversing a tax cuts on the rich the markets were at the time they screamed in panic but these days fortunately has been growing every quarter since late twenty fifty the new policies are also combined with a couple of nice little earnest for the sun the country tourism and white. business is good for evo. he produces portuguese wine on his vineyard outside lisbon he has thirty employees and is looking to expand in the beginning there were only this part and then you have to upgrade it to increase the capacity then we. will double the capacity we. just. because we are in the maximum capacity of production and we have more demand than with what can you produce since twenty fifteen portugal's g.d.p. has been growing again last year by two point seven percent tourism has been the

main driver more than twenty million people spent their holidays in the country in two thousand and seventeen the government has bolstered the sector by reducing be eighty for hotels and restaurants. the country's ruling leftists also put an end to most austerity measures they lowered income taxes and increased the minimum wage. we have done some increases especially for the most. people for the pensions but we have done this in the correct way by the gross of the spending we did of the g.d.p. economists however warned that a collapse and tourism could spell trouble for the portuguese economy they point to the fact that the national debt is still around one hundred thirty percent of economic output. evil al gore's however is benefiting from the government's strategy the winery he says has never been as profitable as it's been over the last two years. you're up to date with the latest from the world of business i'll be

back tomorrow same time same place the effects. of. such. a. move. to move.

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