as the u.s. and the e.u. move forward in tit for tat tariffs analysts say the e.u. needs reforms if it wants to survive the trade war. also on the show good news for chinese tech giant. the u.s. government will let the company do business with the u.s. again but only for a month. and a russian reform economists may like but older russians may not get ready to work a little longer. it's time for business on the w. ho you don't hear us welcome german media are reporting the u.s. ambassador to germany has offered to german car makers a solution to the ongoing tariff dispute it would imply both the us and the e.u. completely eliminating import tariffs for vehicles making it happen would require significant changes to existing policies but it's an unusual option earlier today german chancellor angela merkel expressed her concern about possible tariffs for

the country's crucial auto industry. get it right now we're witnessing something felt which we've always considered a constant namely the role of multilateral organizations we now have tariffs on a limb in yemen steel and we have a far more serious issue to levees be raised on cars imported to the u.s. . involved with and ladies and gentlemen this has the traits of a trade conflict i'm not ready to call it anything else just yet. but it is worth putting all our efforts into trying to defuse this conflict before it does become a war that of course both sides have to be involved and that's really why is it. and of course europe as a whole is involved two of the continent is struggling to find a joint response to the current tariff dispute european commission president will

go to washington later this month for trade talks but analysts warn that standing together will not be enough for the block reform is necessary to win big battles. so is the e.u. ineffectual and bogged down a visit to athens might suggest otherwise after years of financial crisis greece with the e.u.'s help has turned a corner or so says the european commission a pm must give each. received notice on two feet within. europe. the euro. those european partners now have three other economic headaches to deal with first italy which is sitting on a mountain of debt some two point three trillion euros worth saving italy might prove an even tougher job than greece could this mean and atallah exit.

then there's brics it britain is waving goodbye to the e.u. but what this will ultimately mean is anything but clear how much of a handle does brussels have on the situation and its costs. and last but not least donald trump he's threatening tariffs and the e.u. use valen to strike back with levies on some two hundred fifty billion euros worth of u.s. exports joining forces against trump for the e.u. that could be a show of solidarity and strength. well let's see what the other side is doing the u.s. department of commerce has temporarily lifted part of the sales ban on chinese tech giant. the ban almost shut down the company in april when washington accused it of continuing to violate sanctions against iran and north korea now restrictions have been lifted at least for the meantime. the temporary reprieve is only on to lead end of july and conditions under which that t.-e.

will be allowed to resume business as strict the chinese tech giant will be able to maintain existing telecom networks and mobile phones in the usa and to carry out security patches to continue operating the company must pay a one billion dollar fine replace its executive team and hire u.s. compliance officers it was only in april that the company suspended most operations after the commerce department imposed a seven year ban from buying u.s. components and technology said he relies on u.s. companies for nearly one part in every four that go into its networking hardware and smartphones said t e pleaded guilty in march twenty seventeen to having shipped equipment to iran and north korea in violation of u.s. sanctions after they were slapped with a fine the company promised to discipline employees involved in the scheme but the commerce department said this week that those employees were paid bonuses instead.

well we talked about the transatlantic trade dispute earlier but don't forget china u.s. tensions are at play here too like we just saw a fresh round of import tariffs are going into effect between china and the u.s. on friday experts say we can then really talk about a full blown trade war while one side punishes the other the consequences could chip away at both economies and at the paychecks of chinese and american consumers . these car enthusiasts in beijing regularly meet up to take their jeeps for a spin the vehicles were imported from the united states. paid a rant seventy five thousand u.s. dollars for his that's around thirty thousand dollars more than it would cost in the u.s. but the price tag could rise further when the next set of u.s. tariffs comes into effect. this year tensional buyers may change their mind due to the price hike.

this restaurant in beijing will also feel the effect of fresh tyrants it serves pork ribs imported from the us they're especially popular among americans living in the chinese capital. manager charles a pilot fears that higher prices could drive customers away of course he could start buying ports from chinese farmers but for now that appears to be ashes the question domestic calls it just doesn't taste. really civil but the american feel better. as fears of a full out trade war grow china's foreign ministry striking a defiant tone. for. china has a regulator preparations. as long as the united states issues a so-called tariff list china will take necessary measures to firmly protect its legitimate interests. we. already are.

those who have already owned jeeps in china will probably be doing their best to keep their vehicles in top shape to spare parts will also be taxed tire from friday . to another company struggling with the taxes us president donald trump says his government is encouraging motorcycle companies to move to the united states that's after he slammed harley davidson for deciding to move some assembly from the european market before the european market from the u.s. to factories in china and brazil it blamed the decision on tariffs imposed by the european union to retaliate for tariffs trump imposed on a host of new products of course some of the other big companies trump is referring to include those from europe and asia the likes of germany on the b.m.w. and got the regions the president is looking to penalize in order to trade or in the ongoing trade tensions now you know how politicians are notorious for saving

disappointment announcements for busy news day well the world cup is perfect for that during the event the russian government said it's pushing up the official retirement age world cup or not the reform is facing resistance to w.c. sort each reports. it's been a long day and olga played minge of a needs a cup of tea after thirty years of working as a hospital doctor she was planning to retire next spring and just a bit on the side but now the fifty four year old feels there's little chance of that the russian government wants to gradually raise the age of retirement from sixty to sixty five for men from fifty five to sixty three for women. russia has an aging population and too few people paying into its pension pot the retirement system needs an overhaul. the government wants to modernize the country but needs to invest more in health and education as communication choices can seem

a little in that doctor to announce the retirement reform at the start of the world cup hoping perhaps that the football tournament would distract people from its intentions that these two really. the kremlin has otherwise kept quiet on the issue president putin appears keen to distance himself from the reform. roger be anything but trade unions and opposition politicians believe he's the one behind it all you know they've organized demonstrations and collected millions of signatures in protest of the what's more there you. ordered the pension reform as a way of stealing our money or money zelig new design called reform is making citizens poorer the most we will do everything to prevent these measures from being implemented on the most which is the means. parliament has to give its approval before the reform can go ahead and not all members are in favor independent

analysts also skeptical. reformist speaking as an economist such reforms are only necessary when you have strong economic growth youth or not enough workers. neither of which is the key. russia's economy is sluggish and the country has a huge workforce and few businesses. older people. having to welcome few more use of. everything my generation has seen but hold out much hope. and if the reform is implemented that. trust in the russian government which. thank you very much for watching remember you can stay up to date on everything business on our website. or you can also see these and other shows thank you very

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