holly davidson is heading out on the highway to thailand the saying they're going to make more bikes abroad in response to the high cost of tariffs donald trump isn't happy also coming up crude tactics america is pressing for countries to stop buying uranium crude by november the price of oil soars on the news and public transfer transport transformation in china wants pole position in the emerging market for electric vehicles. i'm daniel winter and this business update. trump has hit back at harley davidson after the motor bike make a said it would send some of its production abroad to avoid levees that predicting an annual increase in costs of one hundred million dollars a year due to the e. use tariff countermeasures us president retorting that holly davidson was just using the terrorists as an excuse meanwhile e.u. trade commissioner cecilia giving her two cents telling trump the move by holly

goes to show there are consequences for not respecting global trade rules. the harley davidson an iconic american brand and now a symbol of u.s. president donald trump's protectionist trade policy. decision to impose tariffs on the motorcycles came after washington introduced levies on steel and aluminum imports. but instead of stepping on the america first bandwagon harley davidson responded by saying it would shift some production overseas. and surprisingly that didn't go down too well with the protection of president. fiery tweet he wrote harley must know that they won't be able to sell back into the united states without paying a big tax trump also claims that harley davidson has decided to move jobs from kansas city abroad before the e.u. introduced. the motorcycle maker denies this is the case. among

those criticizing trans trade dispute with the european union is the governor of wisconsin where harley davidson is based scott walker tweeted that a new tariff policy would be good for wisconsin money factories and farmers. but as the tit for tat trade spot continues there could well be more tariffs down the road . for the boys of oil is on the rise that's after the u.s. says it will push for oil consumers to stop buying iranian crude. it's just the latest move by america to economically isolate iran. if the united states has its way iran's oil industry will be crippled by the end of the year donald trump has called on all countries to stop importing iranian oil from november should u.s. allies comply if the effect would be dramatic oil is iran's most important revenue source at present it produces some three point eight million barrels

a day of that the country exports two and a half million barrels the majority goes to china india and turkey but other countries including japan south korea italy germany and russia are also in the top twelve export destinations. a u.s. delegation is reportedly planning to travel to the middle east next week to urge gulf producers to secure a global oil suppliers after u.s. sanctions are re-imposed. iran's government has promised its people that the country can withstand a fresh u.s. sanctions. that was kind of expected but nevertheless now it seems investors are anticipating. that. well china india korea and turkey are the biggest importance of iranian oil and

specially when it comes to china india and turkey it really remains to be seen if they will go along and really stop buying iranian oil when it comes to november having that said what also remains to be seen who could fill in the gap just recently iran exported about two and a half million barrels of oil a day that was about one to one and a half million barrels a day in comparison to twenty fifteen so we don't know where for example saudi arabia could fill the gap and we did see quite a move when it comes to the price of oil and that's increased by a good three percent and western texas intermediate that the oil that we trade here in new york crossed actually there seventy dollars mark per barrel and the u.s. will be having to sell some of that shale there too and general electric shares have shot up after it's announced it spinning off two of its businesses one and oil

tech business as well what's the thinking behind the move. well if you think it in a short term it brings more money to investors and it gives also more money to generate it to itself and they had quite some trouble in the past couple of years in the year two thousand to g.e. was worth almost six hundred billion dollars back then it was the most valuable u.s. corporation now as the valuation is down to about one hundred billion dollars so if it's a good decision in general especially to sell the or get rid of their health care business that was growing in the pos the in the recent pasta remains to be seen so long term questionable short term it's good for investors and that why the stock shot up by almost eight percent it was the best day for the g.e. stock in about jim's three years and by the way this was the first trading day for general electric in over a century that it's not a member of the dollar jones industrial average anymore it got replaced here on

tuesday by the company walkways so bit of positive news coming out of the eventually four g. eight against thank you very much for some more powder positive non-tariff news a german commission has recommended raising the minimum wage next year by four percent to nine euros nineteen an hour the idea is to boost private consumption of europe's biggest economy german government is widely expected to pose as which include a further hike before the end of this decade and ploys have been required to pay minimum wage in germany since twenty fifty. india's economy is growing rapidly but it could be expanding even faster if it weren't for the country's crumbling roads railways and utilities where in dire need of investment now the government is calling on the asian infrastructure investment bank to stump up some of the cash. in delhi getting from a to b. can be quite a challenge heavy traffic and poor signposting are

a headache for any commuter but for those in the delivery business subpar infrastructure takes an economic toll to. electricity access is also a major issue with millions of people in the country still without power. perhaps it's no surprise then that indian prime minister narendra modi has appealed for a ten fold increase in financing from the asian infrastructure investment bank from four to forty billion dollars by two thousand and twenty. i want my mommy or my mom . are wrong. about right. or wrong. and i've. only got. this in mind. my going to. come in. on them

all with my own hundred. with a growth rate of over seven percent india is an increasingly attractive destination for foreign investors but to maintain the trend the country will have to follow through on its pledge to improve basic infrastructure. and the other side of infrastructure now china is determined to become a world leader when it comes to electric mobility to get there at subsidizing car prices assuring producers with quotas among other rules including overhauling pollutant public transport now the city of lead in the way. of light hummer instead of the roar of a diesel engine in just three years all of change and sixteen thousand buses have gone electric. the city's bus drivers have been retrained and there are now five thousand charging points at bus depots. a fully charged bus can travel two hundred kilometers that's about

a day's driving. genting you is spearheading the changes woman on one song we can charge you a bus in the evening when services have stopped for the day well that's what all that's good because electricity costs less in the evening only you mean so the bus company saves money to hear the engines but electric buses cost about twice as much as diesel ones but because power is relatively cheap in china the city council says electric buses cost less in the long run it claims the local economy has benefited to. the buses are made by b.y.d. a car maker based in shenzhen b.y.d. is a global market leader when it comes to electric buses supplying cities like london and budapest you've actually yes this is just a stunt it's just a baby step of the one in the fish if we didn't already we did not only want to actually find those busses but also we want to thank you dr fallon texas

the trust that already had the. chinese government has an ambitious strategy plan when it comes to electric mobility and the administrative regions are doing their bit two thirds of shen gentz taxis have already gone electric. bill idea runs charging stations throughout the make a city which the taxi drivers use at the end of their shifts. it's peak period that not everyone however is happy. to look at it with. it's not worth it might have to charge my car for two hours every day that's a loss of ten or twenty years of business instead of earning money i set around to the games on my phone. and that gets boring after a while. but the city's government is having none of it and says the low power prices make up for any other losses and drivers have to make sure they take

regular breaks anyway. and that's all feel fully charged business update thank you very much for watching.

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