europe's last ditch attempt to dodge u.s. tourists said 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 pay to admire says there's been no winners in a trade war. coming up new developments in italy 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 it glad you could join me well it is their last chance european officials are trying to hold back the u.s. from hiking tariffs at an obesity 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 forecast 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 tariffs on steel and aluminum due to kick in on friday u.s. commerce secretary wilbur ross remained unfazed by the european haste. can be negotiations with or without. good news there are plenty of terms. of police who knows who it's not that you can't talk to because the terms. e.u. trade commissioner cecilia mao strome rejected that approach she warned of retaliatory measures including a trade war if negotiations fail with

a future course of action would depend on the nature and the severity of measures imposed on our exports by the united states and the injury it does to our industry and that could mean tariffs on many u.s. products including cranberries peanut butter orange juice motorcycles and whisky the ongoing trade disputes with its uncertain outcome has tainted the atmosphere and it's 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 has exclusive all paris correspondent lisa newest caught up with germany's economy minister paid to outline at the conference . mr what is the e.u. 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 that includes a form of w t o in order to make it more efficient and to to improve the efficiency of the applet 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 am very confident that the

message from from the european commission and from germany will be in peril 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 this is what we want to avoid it's not in the first place about short term effects. regard to long

term developments and other markets available to take up the slack if it's both self steel and aluminum to the u.s. go down while we have. according to the decision that will be announced by the president we have some homework to do it is prepared first of all we have to avoid that steele who is not anymore coming to is not that 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 thank you. 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 markets affecting 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. will susie's italy's crisis primarily as a political one. off financial correspondent sophie szymanski 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 to learn about a 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 to reaction something that we have observed many times people when their political news that are not directly impacting american investors like the breakfast for example and then we see the markets recover out of quickly you must not forget then that it situations 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 trend 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 that carry one for competitors amazon have been trying to get into the market for

a rope or it on different ways perth with their delivery service amazon fresh and then with buying the whole foods market chain and now with opening their own amazon gold doors consumers walk in put everything they need into their back and leave no need to check out instead they're being charged on line in their amazon app and that is the thing 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 that this year alone and the exciting question is are these simply stored 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 all of wall street good to talk to you as a. portugal 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 well at the time they screamed in panic but these days portugal has been growing every quarter since late twenty fifty the new policies are also combined with a couple of nice little earnest for the sunny country tourism and one. business is good for evil al gore sht he produces portuguese wine on his vineyard outside lisbon he has thirty employees and is looking to expand in the beginning there. and then have to upgrade it to increase the capacity then we. we will double the capacity. because we are in the maximum capacity of production and we have more demand and 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 p a t for hotels and restaurants. a 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 these in the. correct way by painting the gross of the spending we did of the g.d.p. economists however warned that a collapse in two or ism 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. 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 for you that. the amount. to a. substantial amount. of. the amount. of. the

lead close to the white childless ground is shaking nobody else such a problem is your favorite celebrity. legislator the link between the muslim church and your college against the entire country champion of free insurance for the last sixty years. before minds. what does a football loving country need to reach its goals and i will tell you our german soccer made it back to the top players in our web special. football made in germany. during you can tell a lot about to some place garbage the and it's useless for the

rich galen. for many poor people it offers their chance of survival. and i could be lunch for today just like that's. our reporters travel to nairobi and look into the people who know the true value of courage. it has created a thriving parallel economy. what does all this mean for economic inequality around the world you guys are starting place was the response to that statement should be yes we are starting plans won't be because retire because it's actually destructive he could play bridge. the trip to support starting june eleventh on t.w. .