that's that's it for now more at the top of the hour could always that check out figure out the website for us t w dot com about zero and we'll have your business update additional. earth. home which is of species. a home worth saving. yes those are big changes and most start with small steps little indias tell stories of creative people and innovative projects around the world. like music literature least green solutions and reforestation. interactive content to change the next generation of both want

to touch actual. music channels available to inspire people to take action and more determined to bring something new to the next generation gloomily it's the environment series of global three thousand on t.w. and online. the corporate fallout from trump's trade war starts to become clear the friction threatens to inspan major chinese companies u.s. firms are also caught in the crossfire. caught trouble european auto giants price themselves for the u.s. levies china is said to retaliate and could dent american auto manufacturers too. and banking consolidation how the french just making their way into the german financial market. i've been for all unless your business china says. it's fully

prepared for. hopes of a breakthrough in tensions with the u.s. a fading asian stocks say more wall street washington. slap each other with thirty four billion dollars in tabs on friday trade for a company with china. to encounter obstacles in the u.s. seven years that's how long the united states has been mulling over whether to allow china mobile to enter its marcus finally a decision is near and the answer most likely is no response from the chinese foreign ministry fiery by its standards at least. two areas the united states to abandon cold war thinking zero sum games and act of data concepts and to view the relevant issue correctly to stop guessing and posing an unreasonable pressure on chinese companies here and instead to provide a good and fair and mire meant for them to operate to do more to increase mutual

trust and cooperation between china and the us this would be good for both countries people. because the u.s. commerce department maintains that china mobile which has around nine hundred million customers worldwide poses a national security threat it's applied the same term to other chinese telecoms firms including. which is accused of doing business with north korea and iran after already having violated sanctions. while way which the united states accuses of trying to spy on american people the backdrop to all of this at tit for tat terrorist spot between the united states and china that's showing no signs of letting up a far cry from the relationship of the world's top to connally's heart when china mobile first applied to operate in the united states back in twenty eleven. of the wall street where trading early ahead of the fourth of july celebrations tomorrow friday is going to be an even bigger day. before the storm before those tariffs

from both sides the for the u.s. and china hit the trade certainly remains all the rage here on wall street and it looked like the calm before the storm but then actually we saw reports that chip maker mike went to good knowledge has been blocked to sell certain memory chips in china and after that report the stock of micron dropped like a rock and also took some other sunni conductor makers there with them but then when we were looking at friday one of the big open questions if if china actually will impose tariffs to imports for us cars in the amount of twenty five percent we got some pretty decent sales numbers for the u.s. car manufacturers for the month of june here on tuesday but still the stocks went under quite some pressure because for the u.s. and the global car industry a lot is at stake here when it comes to those tariffs on friday as you mentioned we're already seeing the corporate cash and the european analysts reckon that this

trade war is going to hit american companies really hard how hard do you think. well we also have analysts on this side of the atlantic and some u.s. analysts are actually saying that europe was specially china actually might get too targeted and the u.s. economy well it really depends what sector you're looking at so i mentioned the car industry so that could be a big one more than four million people are employed to you in the u.s. in the broader car industry but we also have companies like campbell soup for example so they reiterated that for example their canadian business really got to hard terrors from canada this past sunday so it really depends on the industry but overall the u.s. is far less dependent on exports than the european union or also than china but well at the end of the day we all knew those trade wards are not helping any economy at all you heard it from quarter on wall street the

white house says the car industry is just one area in which the e.u. is clearly taking advantage of the u.s. does the trumpet ministration have a point the u.s. studio car imports from the e.u. is just two and a half percent the other way around the european union levies ten percent on imports from the u.s. so quite a difference there but those figures only tell half the story when it comes to s.u.v.s and pickup trucks the u.s. auto industries main source of income european cars a subject to twenty five percent tariffs the u.s. two hundred ten percent now that twenty five percent taf dates all the way back to nine hundred sixty three it was known as the chicken tax a response to tariffs that france west germany imposed on imports of american chicken just goes to show trade tensions and nothing new but the damage they could inflict could be exponentially larger considering the global supply chains of today

that are so interconnected and bible for just in time deliveries of parts we asked analyst and ellen horst how the road ahead would look with tariffs from washington . well it it it would be very very damaging specially for the german export industry especially with the net for the auto industry germany shipping six hundred thousand cars. every year and then these profit margins are pretty slim if you suddenly at ten fifteen percent of incremental tariffs every consulate from germany to the states will be sold at a loss and comics would need to seriously consider that a venue change that would cost a lot of money so the worries in germany right now are rightly so pretty high on all that said you'd think the comic is would be feeling a little under the weather right now a storm is brewing of america's punitive tariffs diesel gay continues the cost its clout at the german lobby group v.a.

is being clear skies ahead. the sunny bolin weather is putting a shine on the capital's cars german carmakers worldwide production is set to climb to sixteen point seven million vehicles this year the industry's top lobbyist down hard matters believes the companies are in good shape despite the diesel scandal but the trade dispute with the u.s. and the threat of tariffs could dampen the optimistic outlook. and very much concerned because tariffs and trade barriers are nothing that is really good for global trade we need open markets common standards and low tariffs and that's the. this is the fact of success that we with the automotive industry in germany had so far german car makers would struggle to compensate for losses in the u.s. which is not just an important export partner but

a key production base eight hundred thousand german cars are made in the usa containing parts imported from the e.u. firms like diamonds send us manufactured cars to china they'd be hit twice over if the us put up barriers on trade with china to. we try to submit all our facts and to participate in conversations about this and as long as the decision has not been made we will fight for free trade trade bodies and manufacturers are hoping for an amicable settlement with the u.s. after all the last thing they need is yet another bump in the road. prices for u.s. crude have jumped to over seventy five dollars a barrel for the first time since twenty fourteen that's after iran's president hassan rouhani suggested or oil shipments from neighboring countries could be disrupted if washington forces all of its allies by iranian oil saudi arabia pledge to fire up its production capacity and coordinate deliveries with other producers

to balance the market opec and non opec producers a great last month to boost output after reducing production last year to ease a global glut. societe generale is buying the equity markets and commodities business of germany's. acquisition still needs regulatory approval and would enable the french institution to expand its operations in europe's largest economy the news comes after speculation germany's biggest the most trouble linda dodge a bank had been considering a merger with comments. let's talk about this with the red bulls in our financial correspondent in frankfurt conrad is this becoming a trend we have seen it with deutsche bank now comments dropping riskier parts of its business yes fan you know after the financial crisis the regulators introduced stricter rules stricter regulations stricter capital

requirements for the banking sector in order to reduce systemic risk and for some bags especially the weaker ones in terms of capital this means that they simply cannot continue certain risky trading activities this is the case to some extent for bank and in the case of course that's bank here this is one of the reason why it is selling this pretty lucrative part of its trading business to cities in there and if you look at it from the french perspective is that a win for the e.u.'s push towards a proper banking union. while yes it is obviously a sign that some parts of the national banking sectors in the european union especially in the euro zone are becoming a bit less national and a bit more european strong bags like sources shit isn't a valid has followed for a while now

a strategy of growth by takeovers we haven't seen large cross border takeovers in the euro area but smaller takeovers like this one of course indicate a stronger integration of the financial sector in the european union and especially so in the countries of the euro can reduce version frank thank you very much. and i still business with you i get running javier again is about to take over from a killed incident just.

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