there. but regardless of the result a hero's welcome from los celeste de weather after this round the next even the final. is a certainty. you're watching dude i mean is live from berlin up next is the business news with ben physical one china is warning there can be no winners so what will be the effects of this tit for tat terror battle broken out between beijing and washington. state by state. the most colorful. a lively or. the most traditional. find it all any time. check in with a web special. take a tour of germany state by state. w dot com wouldn't have been

fighting for the case to be taken seriously in the world of work here's what's come out. in stark on t w they do the female superhero on a mission smart women smart talks smart station a legend please and by no means miss out on it we're increasingly dangerous times still made for mines. the trade war begins trumps tariffs on china kick in beijing accuses washington of launching the largest trade war in history. china hits back matching the levies targeting u.s. goods like cars soybeans and boxes and the u.s. president threatens to slap judi's on everything chinese. i've been fizzling

let's do business the u.s. went ahead and did what it said it put introducing its levies on chinese imports that china says it's already responded with retaliatory measures on american goods the u.s. levies affect hundreds of chinese products cars planes and hard drives to the tune of thirty four billion dollars another sixteen billion worth coming in the next couple weeks and that amounts to fifty billion but while china matches those tariffs u.s. president or trump now says he may really turn up the heat increasing those tariffs from fifty billion to five hundred billion dollars worth of chinese imports as roughly the total amount of u.s. imports from china last year. we effect would be devastating that's police in adolescent amrita now they've got to talk about this. let's start with the effect of today's tariffs i guess any effect the marginal correct me if i'm wrong yes that is correct it is their estimates are that if this if charis continue along

these lines then. we expect about zero point two percent of g.d.p. to be hit in china i'm going to build that center in the united states and how will it hit the fear is that it sorry the fear is that it will not stop there exactly and those very threats are coming from the u.s. president today what about consumers at the moment they're being spared a lot of these costs because companies that are absorbing the profits but for how much longer absolutely so this whole this whole discourse has been framed in terms of putting america first and trying to help some of the poorest consumer as in the united states and it's true right now there is some attempt to shield the consumers but in fact this is not going to last very long at all because for example you think about. steel industry in the u.s.

steel mills me create some jobs and this would be good for both for some producers and consumers but on the other hand those great many industries that actually benefited in the u.s. from the cheap steel in the cheap aluminum will begin to lose their productivity and this is going to really actually affect u.s. consumers too so this is not a win win situation for anyone certainly not american consumers what happens if trump slaps tariffs on all chinese imports what happens that i mean is that the end of the world. so it's not the end of the world but the consequences will be really dire because it's not only it's going to be very bad for the u.s. and china but really important to me it's not only about these two massive economies in the well right and that is reason enough to be concerned but there are also inherent defects in this so for example the e.u.

right now has started talking about doing something about having something like a limit on steel imports because almost all of the steel overcapacity that is in my from the chinese i will then depress the global crisis of steel and the fear is that this steel will then european markets so the europeans are looking towards some higher levels of protectionism and also we should always remember at the end production to be is really integrated by at global value chains and so for example you have other third party asian countries that produce certain goods that are then sold to china which become partners in chinese goods that were intended for the u.s. market so those great many other economies are also going to get affected so all that this is why their applications will be really add but if other countries

trying time together and do something about it we may still be able to handle it and just briefly emerita this is all coming as china starts opening its economy bit by bit how much of a shame would it be if china starts becoming protectionist again or regionalism takes hold because at the moment china's been taking the high road and selling itself as a champion of of globalism. and i think i mean you're absolutely right china has been trying to open up its my kids gradually and it's been it's been talking the talk of globalization and globalism but it's not yet been walking the walk we've seen some moves in this direction because we're in response to trump's threats we did see some moves coming from china saying that would make investment conditions easier for the united states and so great so we're seeing. two things one we have to remember that the chinese economy was in fact not very

open in the past when we began to see some positive moves slow but positive moves it would be terrible if we see a reversal of these moves and further going back and that would be a great loss to all the world i read an article thank you very much for joining us here on the w. thank you very much knighted to be there thanks chinese state media have slammed trump's trade policies like in his administrations where gang of hoodlums a beijing isn't holding back from matching in kind of on the u.s. imports facing chinese tariffs cars and agricultural products like soybeans and lobster lovers could find themselves in hope or. 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. carmakers 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 steel 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 hundred twenty eight u.s. products tensions increased dramatically between the two countries until finally talks began europe also tried to win trump round but in vain on the first of june the us introduced tariffs on european steel and many m 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 u.s. have also failed to reach an agreement from today around eight hundred chinese goods are subject to twenty five percent levies by the u.s. beijing has issued immediate countermeasures then it's the u.s. is turned then probably more from beijing and so on for the first time in decades global free trade looks like it's under serious threat. to global financial market reaction joins us from frankfurt. as i see it traders are reacting quite calmly or is it the case that it's caution. the trading is very cautious here in frankfurt today the german share index dax

you're right is only trading slightly lower compared to yesterday but hey this event today the imposition of this all those tariffs was really a well flagged it when event markets really had a lot of time to get prepared for it and the pricing in of this has happened over the course of the last three weeks three weeks ago the german share index dax traded about five percent higher than right now. at some stage both two big colonies china in the u.s. are going to run out of measures run out of tariffs when will this trade war turn into a consigliere. you're right it's something that people are thinking about but as far as i can tell and talking to traders here it's mostly something at the moment discussed by economists and other experts for trump it wouldn't be easy to simply manipulate the currency he would need the federal reserve for it and so far

the know the new fed chief. powell has not made himself a reputation of being donald trump's puppet and the chinese if they really want to continue to play the good guy in this game you know the guy for the side abiding to the rules of the w to go they better not return to the old days when they you know manipulated their currency ok or good for us in frankfurt. and while the u.s. and china are bringing in free trade the african country of djibouti is bent on doing the opposite as of this week the whole 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. that ships will dock in djibouti enabling the country and the entire continent to play a bigger role in world tracked. it's the first phase of what's to become africa's biggest free trade zone the two hundred forty test 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 president was joined by several chinese business representatives a reflection of the two countries close economic ties. that. let's. international free zone is a flagship project that culminates a significant number of infrastructure projects that have seen the light of day in recent years. that are helping to strengthen djibouti is place in international trade. and keep you up to date on the latest international trade troubles. doing business with you.

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