transatlantic trade tensions raptures hopper's rule twenty eight a huge country is very you know honestly to impose retaliates return trips on selective american goods also coming up. lower interest rate isn't going anyway but it will wrap up its controversial not to mention costly bond buying program on the end of the year. and german businesses are busy behind the world cup despite those e.u. sanctions. this is your business update i'm having a humphrey in berlin glad you could join me when old twenty eight countries in the european union have now agreed they want to hit back at u.s. tariffs on steel and other many and by slapping tariffs off the road on selected u.s. products to the tune of two point eight billion euros the measures still need to be adopted by the european commission next week and the terrace would then come into

force by late june or early july and we can bring in our financial correspondent yens koch is standing by for us at the new york stock exchange gens house the news gone down in the u.s. . well it is going to hurt certain industries but overall we're talking about an economy the size of about what eighteen trillion dollars and now we're talking for tariffs of about two point eight billion euros but still if you look at companies like harley davidson or levis both of those companies they achieve about a fifth of their revenue in europe or so that is going to hurt but the big question for sure is how will the u.s. report respond on those tariffs so will they actually beef up the terror of someone other could take over is as well so that's probably going to be the big question looking ahead and we understand attention now the shot in the trade war about to be

fired off on friday night tell us more about that. well it's pretty likely that u.s. president donald trump will announce a new tariffs on chinese imports the talk is that about eight hundred to nine hundred different products out of china could be affected we do not have a dollar value and actually those eight nine hundred products could be a good news because originally there was talk that there could be tariffs out of china of four in the amount of about one thousand three hundred products but to a certain degree also when we talk about the the you know clear is ation of north korea the u.s. probably it would need the support to china so that actually could help to kind of smooth isn't there a trade war between china and the u.s. but as i said on friday we probably will see

a new chair of send then we're again curious to see what we hear out of beijing so the trade war in full swing and in that respect it is surprising that the market overall the stock market is not really reacting in a big way the dow jones industrial average only was a small decrease on thursday the nest that composite sold the heavyweight index and actually achieved a new all time high while we wait nevertheless with bated breath the ends quarter for us almost three thank you and just when he thought it was one done deal the free trade agreement between the e.u. and canada rosita is facing a fresh stumbling block a sneeze new agricultural minister says his country doesn't want to ratify it and the deal could be the biggest trade deal in use ever sign that the new attorney government says this sita does not ensure patient protection for the country speciality foods like wine on ifs and cheese. interest

rates in europe are going anywhere at least not for now the european central bank and else on thursday they would remain at historic lows the bank is ending its controversial and costly bond buying program. the last several years have been expensive for the eurozone since march twenty fifth team the e.c.b. has acquired government and corporate bonds with a total value of around two point four trillion euros that poured lots of low interest capital into the euro countries the bonds were intended to fuel inflation at present the u.c.b. is pumping thirty billion euros per month into the market we anticipate that after september two thousand and eighteen subject to being coming day to go further mean our medium term inflation outlook we will reduce the monthly piece of the net loss of purchases to fifteen billion euros until the end of

december two thousand and eighteen and then and net purchases. but the central bankers have left a back door open if conditions change they might reconsider their decision there was still no good news for savers in the euro zone key interest rates are expected to remain at their historical low levels until at least summer twenty nineteen. the german parliament has voted to allow class action lawsuits against big corporations the historic vote is a direct result of the mission's cheating scandal is see as a win for consumers they could seek damages without having to go it alone against those big corporations something not previously allowed here in germany now class action lawsuits a common practice in the u.s. where the german car making giant b.w. has been forced to pay out billions in dollars in compensation to customers. french president a man who has taken

a number of risks in his bid to reform the country's labor law but what at least now seems to have paid off is controversial rail overhaul has been adopted despite fierce resistance from the unions it appears one of michael's key projects is still on track. for weeks workers and friends have been walking off the job to oppose plans to restructure state rail operator s.n.c.f. but their preference have been in vain in a victory for french president manuel mccaughan the reforms are going ahead as he sees that things need to change s.n.c.f. is after all fifty billion euros in debt up from twenty twenty french railways will open up to competition on top of that real workers will no longer enjoy the same privileges as before for example new hires won't be guaranteed early retirement at fifty eight marconi has succeeded in something that once cost a predecessor his job. and his government has even more plans major airports are

also set to be privatized earning billions for state coffers it probably won't be long before trade unions make their voices heard again. official team is a fan favorite especially during the world cup and as football fans and parents will probably know it's expensive now four years ago in brazil added us sold more than three million german national team jerseys but why does all that cash with a german team jersey cost just under ninety euros let's break it down for you will first the german government takes its share in the form of value added tax the eighty the biggest cut actually goes to the retailer nearly twice as much actually as the sports web brand itself is added to us now just five euros and fifty cents goes to the german football association some of that put to good use passed on to sponsoring football programs in schools and it amateur level only eight euros and

sixty cents ends up in the manufacturer's pockets and that is less than ten percent over what you actually pay for it in the shop but of course not just much and ice that is turning a profit when it comes to the world cup there is a lot going on behind the scenes a football stadium for example is a complex operation and russia stadiums rely heavily on german tech to make sure they are world cup ready now in the midst of tensions between russia and the european union the world cup could account for a rather staggering fifteen percent rise in exports to russia from germany this year. these blades for up to twenty centimeters deep into the football pitch allowing air and water to penetrate more easily but it got me look hell fast they move and these older blades are worn down so they're about half the length of new ones. this machine is being used on football fields where the teams are training. the early stuff but yeah although they're being serviced in moscow these machines

are built by beaten mon a german company they're being used in seven of russia's eleven world cup stadiums . the tournament itself will cost nearly eleven billion euros making it the most expensive tournaments in the world cup history from stadium construction to technical installations and lawns german companies are profiting from these investments. the german national team is coming to russia as defending champs the german economy also has a title to defend we are still the leading foreign economic presence here with five thousand companies and that number includes re how much has installed pipes under the pitches and almost every world cup stadium in russia. has lots of experience playing turf heaters drains and runoff systems and stadium sink looting in europe in munich and in doesn't offer equally important as our service without

which it would be impossible to provide for the russian market. on site service gives german firm bosch an important competitive advantage it operates a facility on the edge of moscow with its security climate and heating technology is integrated in all of russia's world cup stadiums most of its machinery is imported. everyone here trusts technology from germany and german engineering. but it's put together here in russia according to standards. it apply here in russia german exports to russian twenty seventeen rose by twenty percent approval thanks to the world cup this year could see another fifteen percent increase. and that's with the latest from the wild of business for more than was head to our website last business or head over to facebook or twitter on the school business.

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