tv Business - News Deutsche Welle July 6, 2018 1:15pm-1:31pm CEST
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or you'll get access to the latest news from around the world and be sure to sign up for a push out of occasions so you don't miss any breaking news the person. you're watching d.w. news still to come china warns it's a war that no one can win so what will the effect of this tit for tat tariff battle be that's broken out between beijing and washington that's coming up. and sarah harman stay with us. being on beethoven. is worse than the goddess for to know. the munchies and three. children twenty two.
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years old having me go to a pretty. sure link to lose from africa and the world. your link to it simply means stories of discussions in the un will come student news after coming program tonight from born in germany from the news of these each hour i would say d w two it comes to much effort come join us on three split d.w. africa. to become a good. tip for tat on the world stage china hits back at us tariffs with levees all that its own and accusing the u.s. of launching the largest trade war in history. plus flying the flag for free trade the sold out. the nation on the coast of one of the
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world's busiest trade routes the comes home to the largest free trade zone in africa. they say is your business of daytime having a home free in berlin glad you could join me well the u.s. went ahead and did what it said it would introduce it is threatened levies on chinese imports now china says it's already responded with retaliate retaliate tree measures on u.s. goods u.s. levies affect some eight hundred chinese products we're talking calls blades and hard drives to the chewed of thirty four billion dollars meanwhile china's tariffs are likely to target u.s. agricultural products such as soybeans and pork in the conflict could escalate further u.s. president donald trump said he has terrorist plans on over five hundred billion dollars worth of chinese imports meanwhile the u.s. chamber of commerce in china was that further escalation would have devastating effect as it's calling for talks to avoid
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a full blown trade tool. let's bring in a fan here gonzalez it is that captive director of the international trade center the joint development agency of the united nations and the world trade organization geneva thank you very much for joining us on the program now the latest that we've heard from china is that this move from the united states represents the overtures to the biggest trade war in history is that rhetoric or fact in your opinion. well i think we are facing the largest trade conflict since the second world war but more importantly is that this conflict is already having an impact on the ground it's already affecting workers that are being laid off as a result of decisions especially in america to move out of the country and produce elsewhere given that their eaves is having an impact on businesses that are not making capital investment decisions because of the uncertainty of the situation but let's not forget our taxes taxes that the consumer will have to pay it will make
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it is making already american consumers. pay more for the goods they buy and it's making american companies less competitive because the the inputs the import in their manufacturing chains will be more expensive so frankly who wins from this conflict is a big question mark today but the impact is clear as you've just pointed out often consumers paying the price as a former chief of staff for the world trade organization with that experience i wonder do you think that the w.c. i will be able to help calm these masses. well you see the wu is all these countries the dough you deo is one hundred sixty four countries sit deep there on the day will though you do is what these countries want it to be and i do hope that after some initial moves i hope these moves are aimed at going
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back at the negotiating table sitting around a global table simply because you need a lateral measures do not solve problems that have to do with in international trade cross border trade cross border i'm not theirs by definition cannot be solved with unilateral decisions indeed but i'm wondering if there's the appetite for that for that w t o involvement right now because we've seen germany of talk see the u.s. talking about lifting tariffs on cars for example i mean could we now be seeing a move to by pass a global trade body and if so what could the consequences be well first of all is not germany would have to be europe because germany does not have authority over trade policy is europe that has authority over trade policy and two if it is a deal on cars it will have to involve all the major exporters of cars not just the u.s. and europe but also mexico canada japan korea china and if they do that it would be
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good news because they would have found a way to solve these problem you know cooperative manner but it has to be with all of them around the table not just germany and the u.s. . well as america first goes up against made in china concerns are growing that this conflict will strike at the heart of the world trading system among the u.s. imports likely to face chinese tariffs we've got calls and agricultural products things like soybeans and lobster office could find themselves in hot water. were a lot of lobster from the u.s. weighing around two and a half kilograms costs approximately five hundred yuan or seventy five dollars at seafood markets in beijing american lobsters have long had a reputation in china for the size and the high quality of their meat but chinese customers who enjoy this delicacy are about to feel a need because the chinese government has threatened to slap an additional twenty five percent import duty on this luxury menu item chinese wholesalers who import
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these cross stations will have to work out how to live with the high tariffs it was a good year. for you don't know what there's nothing much we can do if there's a trade war or we can do is adjust their supply chain here depending on the size of price increases. if the chinese government follows through with its threat the u.s. lobster industry could feel the pinch losing its edge over rivals such as canada and australia that will hurt the americans last year china imported about one hundred twenty eight million dollars worth of live lobsters from the u.s. accounting for fifteen to twenty percent of total u.s. lobster exports. sadly gets here what china calls the precipice of a global trade war well when donald trump became president he promised his country that he would put america first and when it comes to global trade his mantra has long remain that the u.s. has drawn the short straw it seems as if his latest moves on effort to redress the
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balance and change that. tariffs have long been one of donald trump's favorite topics even before entering the white house last january he promised to slap levies on u.s. come a cause with plants in mexico initially he seemed content just to hand out threats . twelve months later however the situation was more serious on the twenty second of january two thousand and eighteen the us introduced tariffs on solar panels and washing machines the focus cheap imports particularly those from china then on march first trump's attention shifted to steal and he announced plans to slap duties on them too including imports from the e.u. trade wars are good and easy to win he tweeted that same day mexico canada and the e.u. were granted a period of grace on the second of april china announced punitive tariffs on one
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hundred twenty eight u.s. products tensions increased dramatically between the two countries until finally talks began. europe also tried to wind trump around but invain on the first of june the us introduced tariffs on european steel and aluminum twenty five and ten percent respectively but brussels wasn't prepared to take that lying down on the twenty second of june it put levies on jeans peanut butter and motorcycles. in response trump threatened to tax european cars. china and the us of also failed to reach an agreement from today over a thousand chinese goods are subject to twenty five percent levies by the u.s. beijing has issued immediate countermeasures and it's the u.s. is turned and probably more from beijing and so on for the first time in decades
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global free trade looks like it's under serious threat. so while we have the united states and china reining in free trade the african country djibouti is bent on doing the opposite as of this week the small nation is home to the largest free trade zone in africa leveraging its location at the coast of one of the world's busiest trade routes where asian and arabic vessels make their way towards the suez canal else artie's hope that the ships will dock in the country on the entire continent to play a bigger role in wild trait. it's the first phase of what's to become africa's biggest free trade zone a two hundred forty hectare site that's the size of about three hundred fifty football pitches is intended to encourage foreign companies to set up manufacturing plants. at the opening ceremony djibouti as president was joined by several chinese business representatives a reflection of the two countries close economic ties. international
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free zone is a flagship project it culminates a significant number of infrastructure projects that have seen the light of day in recent years that are helping to strengthen the place in international trade and commerce. the free trade zone won't just boost to beauty's economy but that of east africa as a whole neighboring landlocked ethiopia for instance would benefit from accessing the port within the zone china has also invested billions in rail and road networks within the region. the project is an important part of china's belgian road initiative its global infrastructure project that's also been dubbed the maritime silk road chinese companies in particular are likely to make use of the chance to manufacture and export product. government will be the free trade zones majority
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shareholder with three chinese companies owning the rest since ninety percent of djibouti is land is made up of desert raw materials are in short supply that's one reason for the country's high unemployment rate. the government hopes the free trade zone will create new york city's help lift people out of poverty. and our minds are now all story we're seeing tit for tat tariffs on the world stage that china hits back at the united states with levies of its own and accusing the united states of on the law and just trade will history thirty four billion dollars apiece. i have.
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