the g. seven summit is underway in canada amid massive trade tension between the u.s. and its partners the summit looks increasingly like the last attempts to prevent a full blown trade war. also on the show top apple supplier foxconn says the u.s. china dispute is not about trade it's about technology. and an idea that could save the oceans will take a look at a project aimed at ridding the pacific of half its plastic trash within five years . it's time for business on the w i'm here to get us welcome to start where all eyes are at this week in the g. seven summit in quebec a special summit because of donald trump's combative mood he set the tone even before his departure from washington on friday list right now we are not going to live with the deals the way they are european union reaches very

unfairly canada very unfairly mexico very unfairly with that being said i think we'll probably very easily make if you. striking deals like that might be easier said than done though the summit has traditionally been about seeking common ground but u.s. tariffs on steel and aluminum have set trump and the u.s. on one side of the trade debate and leaders of the other six nations on the other a situation that has let the media to dump the event the g six plus one the official group photo of the leaders at the event looked for mona said nothing but behind the scenes the acrimonious debate on protectionist policy appears to have made for a tough day of talks. are her spondon phenomena is in quebec and as the summit was getting underway on friday we asked her what to what extent trade issues will dominate the meeting. this topic is of course just on top of the agenda here and this is

a particular important topic for the europeans here they match on the sidelines of the summit and seem to have agreed to have a joint stretch and see how to deal with the president and his protectionist trade policies they want apparently to push for references to free trade truly in the dream and that could be signed here to morrow and it shows that are apparently not believing anymore that it would be possible to convince donald trump here at this g. seven summit to change his trade policies and we know talking to the you asked a geisha that. is determined to continue his aggressive trade policies. and adding fuel to the fire as the g. seven summit is yours up in canada it emerged that china's trade surplus with the united states jumped by almost twelve percent in maine for the first time five

months of the year china's but rather for the first five months of the year china's surplus with the u.s. was more than one hundred billion dollars that figure may reinforce washington's decision to move forward with new tariffs and tens of billions of dollars in chinese imports as early as next week beijing has warned those tariffs would void agreements made between the world's two largest economies over months of trading. and our financial correspondent at the new york stock exchange so fishermans q. standing by for us sophie what are the reactions where you are to this could it strengthen trump's hand in trade disputes. well there is the perception here i mean it gives him a way to justify his strict and some might even call it stubborn way of bargaining and he needs to bolster his view because he has many opponents even within his own party is obsessed with anything that concerns the trade balance trade deficit for

him because most of all evil and all problems so he is a protectionist and they always complain about the united states trade deficit for good but forget about the surplus of foreign investment capital or trade the trade surplus and services trade is not a one way street where one country loses and the other one wins and so economists for once pretty much agree that these terrorists are going to hurt american businesses and consumers and bet again to harm the economy and the v.p. growth as well and that would be definitely a problem where you are now it's the end of the week so see how that the markets close and what's coming up next week. well this week it was all about trade and at the same time it was and it can be pretty confusing what the markets are making out of potentially consequential use investors have simply simply have been good in creating their own buying opportunities they act concern the one day and then they simply jump back into the

market the next day at lower prices of course one economist i talked to said right now markets are simply not a good indicator for the u.s. economy a trader told me investors have money that they want to invest and they do it now while the markets are so op and this is exactly what's going on right now and the focus next week is probably going to be on the meeting off the f. o. and c. and they're really likely to raise rates and other times so fishermans key for us in new york thank you very much and have a good weekend. corporate news now and apple might be scaling back i phone production a memo in which apple alerted suppliers that it was liable to be ordering twenty percent fewer components in the next production cycle is sparking rumors it's a particular problem for taiwan based foxconn one of apple's top suppliers foxconn has major factories in china and has to deal with the fallout from the china u.s. trade dispute but the company is

a mistake and says the dispute is not about trade but technology. fox conn's founder sees his company as caught between the world's top two economies and he believes there is opportunity there. were people who. i believe this is a critical turning point for a company especially because of the recent ongoing trade friction between china and the united states i believe this is not a trade conflict brother a competition and a comparison of technology. china lags behind the us goes says and that's why he wants foxconn to become a pioneer of china's smart manufacturing which leans on artificial intelligence and five g. telecommunications he has reason to look forward the smart phone the move creates jobs in the u.s. and gives the company access to american technology. to nigeria now where entrepreneurs are turning waste into money with

a population of about what twenty one million the city of lagos generates up to ten million kilograms of trash per day or authorities try to tackle the problem a company called pearl recycling transforms things like car tires magazines stross plastics and wood into household items and it's also transforming how people think about waste. where other people only see old tires only media ynys spots potential beauty she goes around to businesses in lagos collecting tires that are no longer fit for vehicles only midi is a computer engineering graduate but she has found her calling making decorative furniture. filled to make use of tires you see the tires are safe to be used. i use the tires broken we can't use that. back in her studio the creative work begins step by step and old tire becomes

a beautiful ottoman and the environment is being protected too. in nigeria. is quite new and the good thing is the. chances as well people. see the we. will elect. everyone nice to be an environmental advocates only miti sells her pieces for as much as twenty thousand that's about fifty five us dollars she even has orders from europe but are there any concerns about health issues. cottle thai asked me to lead to different areas of. making so high as you are also miles along any point to you. sometimes people bring their old tires to her and get

a thirty to fifty percent discount off her products. he still has. the color calls to people. on the way to talk about the facts. see even old motorcycle tie is good a beautiful wrap recently media has started training other people who are concerned about the impact of taiwan faced on the environment. products and now showcased in some of the major furniture stores in lagos. oceans cover seventy percent of our planet it's hard to undermine its importance and yet they have increasingly come under threat mostly due to plastic pollution eight million tons of plastic are washed into the sea every year solutions are scarce but new technologies could offer answers. five gigantic marine plastic garbage islands float around the world's ocean currents. the great pacific garbage patch drift between hawaii and

california it's four times larger than germany. happily the floating quagmire could get something of a purge this summer. the ocean cleanup is the brainchild of churchmen boy and slant it's a boom which drifts more slowly than the plastic which collects along behind it to be recovered for recycling the clean up system will automatically gravitate to those places where most plastic it's that now cause the efficiency to be a lot higher because there's just more plastic in front of the system and therefore we can now clean up fifty percent of the patch in just five years. collected over thirty million dollars in donations to develop the ocean clean up going off it's already been tested in the north sea. if it's successful in the pacific it will be employed against the garbage cupping of their oceans as well. that's all for business thank you for watching good wax the to.

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