tv Business - News Deutsche Welle June 15, 2018 7:15pm-7:31pm CEST
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but despite the challenges he continues he says the harder live becomes for his people the harder he will work for change. your washington news we solve a lot more to tell you about here's what's coming up a bleak day for world trade us president doll trump slaps the billions in tariffs on china and beijing promises to retaliate it's. been presumed we'll have that and a whole lot more coming right up and i'll see you at the top of the hour. climate change. waste. pollution. isn't it time for good news eco africa people and projects that are changing our lives are meant for the better it's up to us to make a difference let's explain each other. a good
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environment magazine. long d.w. . i'm not proud of and they will not succeed in dividing us about not succeed in taking the people off the streets because we're tired of this dictatorship. taking the stand global news that matters. made for mines. at the. german translation and you frontin the trade route with the united states beijing also promises to immediately hit back as the us president announces billions of dollars more in tax. and drowning in dance how to save a caribbean island from sinking just go christine. i bid for one let's do
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business the trade route just moved up a few notches donald trump hitting china beijing saying it will retaliate with equal strength and berlin adding fuel to the fire the heat coming from washington today with trump announcing twenty five percent tariffs on over a thousand chinese products many for next month they include high tech taking aim at beijing's ambitions to transition to a tech economy and they add up to a total of fifty billion dollars in punitive tariffs for what trump calls unfair trade practices the european union is hitting back against the previous u.s. judi's on steel and alum in your by imposing their views on american goods worth about three point three billion dollars everything including blue jeans whiskey how they davidson motorcycles we you may be united on that matter but on other issues of trade cracks beginning to show italy's government threatening not to ratify the e.u. straight deal with canada the italians say that the agreement doesn't protect regional
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products like power johnno and pursuit oh and other medical is threatening a tougher stance as we'll hear in a moment we're on the brink of a trade war. hey south with tariffs on we'll take you back that was china's response to the latest twist in a dispute pitting the world's two biggest economy if it gets each other or your phone tied to them if the united states imposes unilateral protectionist measures that harm china's interests we'll react quickly and take the necessary steps to resolutely say all guards are fair. right. of arguing. a clear statement of intent just a day after u.s. secretary of state mike pompei you met his chinese counterpart in beijing but those diplomatic efforts didn't stop the united states from imposing twenty five percent tariffs on fifty billion dollars worth of chinese goods. meanwhile on the other side of the world another country is vowing to fight back against trump's
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protectionist measures speaking at an event in berlin chancellor angela merkel had this to say. as well as addressing the issue of tariffs on steel and dahlia many m b e use retaliatory measures the economy minister will also tackle the question of the strategic importance of the car industry for u.s. security. starting from the munich all this must. leave we should consider the strategic significance of the car industry for the european union in the same way so that we can prepare for an exchange with the united states . for. an exchange is one way to put this but as the war of words heats up it's becoming clear that the white house is aggressive stance on trade it's leaving the united states increasingly isolated from its allies. is collating international trade dispute making itself felt on the
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markets this friday the looming trade war between the u.s. and china and europe is making investors nervous markets are under pressure the dow jones lurching into negative territory bill the boeing was among the heaviest loses trade is reacting to the belief that it crossed an agricultural produce would be on the list of retaliatory chinese sanctions. declare richardson a washington correspondent clear where here it shorts flood for mole sidespin that was a real boom out of washington today what in your opinion has changed in this trade dispute. and well we're seeing a major escalation in what is slowly moving toward a trade war between of the world's two biggest economies and we heard donald trump say that if china tried to retaliate to these tariffs that he would hit back with even more tariffs and of course we've just seen china has done just that announcing
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it will promising that it will impose its own set of tariffs now in some ways this is not surprising at all it's long been part of donald trump's a philosophy that the united states is getting a bad end of the deal on all sorts of international agreements particularly related to trade and he sees himself as a master dealmaker that could be able to unpick these and negotiate something better than his predecessors have done so not a surprising move based on the way things have been going over the past few months and the fear among american allies and global economists over the way things are shaping up but certainly this is another move in that direction toward a trade war and let me just say that from promises that he's following through on those that's that's one thing you've got to give him but is his strategy working. that is the question i mean some economists hope that this is just part of his negotiating strategy that he's trying to extract concessions to renegotiate a better deal but if this is a means to an end in and of itself we could be looking at americans paying much
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more for products in stores we could be looking at weaker profits slower growth worldwide the steel and aluminum industry of course are very happy about this as you mentioned trump made it part of his key campaign promise that he was going to use trade policy to protect american manufacturing so they will be happy to see this carried out but this tariff setting streak is really how much this is going to hurt is really going to depend on how these other countries reaction and what sort of retaliatory measures they take and how effective those can be and damaging the united states in return exactly what do you think about the strategy from your side of the atlantic as far as the europeans and chinese are retaliating i mean is this strategy working because the u.s. economy is a very strong one and trying to hit them with a little tariffs here or there might really do anything. the u.s. economy is strong and that's what republicans are banking on this november's
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elections to maintain control of the congress of the house and the senate and look at the european union has said that it's going to target products that are kind of symbolic of america all-american to things like whiskey blue jeans harley davidsons and they're politically targeted at states with republicans often who are seeking re-election we're going to need a happy voter base that isn't suffering from these retaliatory tariffs from the european union in order to seek office again so it's a targeted strike it could be effective in that sense and the other thing to keep in mind is that part of this is going to be playing out through the w t o the european union has said that not only is it going to impose these tariffs on as it sees it as a necessary response to enforce a you know the existing world order but they're also going to challenge it. clear which is an emotion to thank you. the caribbean island nation of barbados is drowning in debt it has the world full of highs that to g.d.p.
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ratio behind japan greece and sudan now the i.m.f. stepping in to get barbados back on track the new prime minister be a monthly recently announced the country had undisclosed liabilities raising its overall debt from one hundred thirty seven percent of g.d.p. to over one hundred seventy five mostly have no choice but to contact the i m f well the fund is acknowledged would assist the ailing economy with an emergency debt restructuring plan abate us then suspended payments to external creditors to regroup the island owes two thirds of its debt to local investors a bank some tough debt restructuring measures is required without endangering its domestic financial system motley says her government wants to protect its most vulnerable citizens as well as business sector is crucial to growth officials used to consider barbados one of the better fiscally run countries of the caribbean a mine is a journalist from the region i asked him how did it got so high to be fair you know
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prime minister mali was voted in just last month and i think that the issues that we're seeing in barbados now point to gross inadequacy from the previous government the previous leaders party and you know she's taking on a lot of burden both socially economically politically culturally even and you know like you said a lot of people do think that barbados is champagne it's beaches it's beach front property as you know but regular people are impacted as well as how's this local restructuring going to affect local banks and the financial sector and is a go to work. to be fair it's up in the air right now. prime minister motley is looking at you know brazing the taxes on water bills for commercial entities to fifty percent by fifty percent now how's that going to impact local residents that have local businesses. question. what's going to happen to the residence that that was my first idea i mean we're talking about. the richen and all these
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financial problems but what about regular people in barbados why i think that the economy is definitely a vulnerable state right now and that vulnerability is taken on by the people and you know you see the same thing happening in jamaica which is second for g.d.p. to debt ratio in the caribbean at a distant second but still second place you see it in the british virgin islands you see it in bermuda the cayman islands you know so that instability has become a part of the political and social landscape and i think that people are doing the best they can to cope you know prime minister motley rallied people they said you know our grandfathers and our forefathers went through worse and we're going to pull together to get through this but talking about the rich i thought the panama of papers was trying to help clarify the situation and get things back on track i believe that the panama papers brought the issue to the world stage you know to shine to close relied on the financial institutions based in caribbean countries but what you have to understand is that business will go on as usual as per usual
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you know so while barbadoes may be under closer scrutiny by the e.u. by the u.s. by international bodies it still has to conduct business as it did and it's a problem that's also affecting other islands in the region both of course bermuda for example you know has been falling in and out of favor with the european union because of the panama papers and businesses not being openly listed british virgin islands cayman islands as well so it is a kind of a shared burden that all of these islands do face and i think moving forward and have to face them together they might as thank you very much for coming in to clarify the situation it's sad you're from but butte and you know this region going through all these problems it's for must be nice fully which must be nice. nice doing business with the c.e.o. getting very soon here on the dot we have.
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