canada is getting tough on trade fighting back against the us slapping billions in tariffs on its neighbor also coming up live for us central banker faces prosecution for bribery corruption plagues the country's financial system. the global trade dispute is hotting up canada joining the fray stopping almost thirteen the billion us dollars worth of tariffs on goods from their southern neighbor the move is in retaliation to washington's levies on canadian steel in alimony i'm match the dollar for dollar flanked by the workers whose jobs she's value to protect canada's foreign minister outlined her country's response to u.s. tariffs on steel and aluminum these counter measures will only apply to goods originating from the united states they will take effect on july first and will remain in place until the united states eliminates its trade restrictive measures

against canada described as canada's biggest trade auction since world war two the retaliatory measures are worth well over twelve billion u.s. dollars as well as imposing additional levies on american steel they also target every inch of u.s. consumer goods meeting canadian shoppers like sheila malloy will notice the effects she's already pledged to buy canadian wherever possible right now i'm looking for imported and then the product so if it was a product of the u.s. i would probably go and look for another option now a worthy goal perhaps but when it comes to life's most essential items it can be a challenge to. love the cartmell. made in the u.s. a moral qualms about toilet paper if you didn't know the trade spot was serious before now you do. and yes coulter is on wall street yes is this an act of economic

self harm on kind of this part or is it the tough stance as necessary to make trump reconsider. at least canada picked an interesting date because canada is celebrating their independence day on july first then well that is the big question how do you answer to u.s. president donald trump is that the only language that he understands meaning to play hardball or not but one thing is for certain canada to a certain degree or some companies are already if eeling the pain they are already a tariffs on the canadian dollar to murder and lumber that is getting exported to the united states not steel and alum in your own soul yet that you know is on and we will see if that changes any with think that to me what is a certain surprise is why it on a drum is playing it hard with canada because those two countries of the u.s. and canada they have an almost even trade balance and that is not true if you look at the european union or countries like china so it's hard to understand why the

relation got really sort tense between the u.s. the two neighbors here ok and staying on the m similar lines general motors has released a statement saying u.s. imports tariffs on cons would be bad for american jobs why is g.m. so worried about import tariffs. well for once costs are going to increase general motors estimates that on average the cars that they manufacture might increase in cost by goods six thousand dollars on average that is true because materials get more expensive but also because they have to import a lot of technology from asian companies for instance and general motors is saying that they're going to have been a disadvantage to the competitors abroad and the stock of general motors last year on wall street to almost about two and a half percent on friday and we heard that story that terrorists might be hurting

a couple of times this week i think back what holiday vincent said that they're thinking about putting some of their production outside of the united states or also at toyota who produce the toyota camry here in the united states also said that costs are going to increase quite a bit so we will see if the administration the u.s. administration is listening to those complaints and in the end might not impose those tariffs on cars in the amount of about twenty five percent seemingly not what trump intended to have a great weekend thank you very much latvia has acted as a money laundering hub with banks shuffling assets and dodgy transactions out of the likes of russia and north korea well now latvia's public prosecutor is charged central bank chief l. mas room should bench when accepting the offer of a hot million euro bribe it paves the way for the trial of one of europe's most influential economic policy makers a makeshift shrine marks the spot in riga where

a lawyer working on the winding down of a bank was shot dead he was killed while driving his car. inspecting the crime scene today r younis veda and antonio krekar who work for an anti corruption agency. the murderers cast an ominous shadow over lockerbie as financial sector the killer and their paymasters have yet to be identified by the state these in ohio and in turn me mr said that there will be an assistant other counties to search for that murderers and should not place again their next stop is the main offices of the bank which manages accounts belonging to citizens of the former soviet union the bank launder dirty money for years illicit funds were transferred to other e.u. banks or to offshore accounts. he flopped and banks did not properly check forward

bills money was coming from other banks in the european union or being the international system would accept those money with all of. them unknowingly in one case in twenty sixteen one point three billion euros disappeared without a trace from banks in moldova hundreds of thousands of people lost their money triggering massive protests in the capital case shino. bank was named as the culprit. they just send it into the bank. for maybe a couple hours maybe a day and then the sand if there are more of it spreads around the world the one point three billion euros has yet to be tracked down the line government is now amending its legislation in an effort to challenge money laundering among the country's banks and the new generation of bankers also seems eager to end the criminal practice of the banks. thirty thousand

customers in the span of one and a half year which for a total customer base of their own two million two point two million is a lot a.b.l. the bank has since been banned from trading in the euro or dollars owns not for years banking regulator recently approved its liquidation. corruption is also on the agenda as leaders of the african union member states meet in mauritania this weekend but that's not the only big issue as countries around the world scrap it out over free trade africa is wondering if it will be caught in the middle. more trade is urgently needed in africa fifty five nations only conduct about sixteen percent of their business with each other the smallest amount of interest regional trade compared to latin america asia or europe but change is coming we talked he made. forty african states have signed the agreement to create

a continental free trade area but we expect this to have a positive impact on africa as it will contribute to the strengthening of trade and the free movement of people and goods for the benefit of african citizens. it took two years to negotiate the african continental free trade area but it left a few countries out including economic heavyweights south africa and nigeria once they signed on the agreement will cover one point two billion people with a cumulative g.d.p. of two trillion euros it will be a boost for the entire continent but africa faces other problems too like corruption. among africa loses at least fifty billion dollars a year to illicit cash flows it is clear that retaining these resources on the continent would greatly help finance its development we must go beyond words to demonstrate fact in china but says more homegrown companies appear on the market

and trade ties between the two countries come under strain those days appear to be numbered. tea with foam made of cream cheese just one of the specialty drinks customers in shanghai have been lining up for this some aren't . haiti eat the company behind the popular beverage it's a chinese chain with and that's all over the country. it's just one example of a homegrown company giving us competitors like starbucks a run for their money. while american brands have long enjoyed an elevation stations in china research suggests their dominance is now beginning to play in. the local roads have been. this is becoming a very big concern. because it's. just that you have to do with the way they operate. the way. they will be put into the city which is

what the market with boards and there are a lot of companies. u.s. tech companies like apple are also coming under pressure from domestic firms i phones are kind for only ten percent of the chinese smartphone market it's local companies like quad way offering lower prices and gaining ever more crimes as a result with the in your of american brands appearing to fade u.s. companies may soon find themselves playing catch up. and now you've caught up with your business for this week for me and the business team thank you very much for watching.

this is the government has come to learn from but it does go right to our correspondent he is in central istanbul and we have our political correspondent for him studio more on those stories in just a minute but first this news just to get some of the perspective closer to. a good. time for an upgrade. how about funded sure that grows on buying. a house with no loot.

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