you're watching the news coming up ahead china's prime minister. looks to boost ties with in the face of u.s. is coming up in business news. and business news is that standing by for you right here. on freedom and the whole. world i come from the region is rich in history. poor in education opportunity and freedom this makes it especially difficult for independent drugs i see many of the younger promising journalists who are now making names for themselves all over the world. song live along the way some might follow some with continue. their experience of freedom in

a sense is like that few minutes. you'll care visits but your call come back call. my name and your three hundred one i work. as the u.s. continues to alienate its form of trade china and europe to run into each other's arms the leaders of china and germany meeting now to talk business also coming up trumps plans cantars on the new impulse looks set to backfire his push to sell u.s. made vehicles abroad could end up going if it's in european manufacturing. and on a winter and this is a business update. china has declared itself the defacto leader of global free

trade since donald trump started pushing his america first policies as a potential for a trade war between the two countries looms china is looking for friends elsewhere so cost close economic ties are on the agenda as china's premier meets germany's chancellor today but the friendship comes with a healthy dose of skepticism. all eyes are on china along with premier league pitching came news of the construction of a new factory for battery cells in germany china's c a.t.l. wants to supply car makers b.m.w. and dialer from the german plant investments worth millions collaboration and high tech are the positive aspects of economic relations and both sides now depend on good relations more than ever since the u.s. imposed punitive tariffs on chinese products here in china is growing of an economic downturn china is also becoming more important for europe which is affected by the tariffs both directly and indirectly. china is using the situation

to offer itself as champion of free trade including during this visit to europe or that china will continue to open wider and this includes widening market access to foreign investors and including foreign products just as long as chinese consumers like them need them and they're in good demand then we will continue to open up and step by step we will lower the overall import tariffs. maybe a positive message but german companies are somewhat skeptical of their new ally that's because many foreign firms still face competitive restrictions compared to their rivals in china trade associations say those the pediment are increasing rather than decreasing. can europe expect trades to pivot away from the u.s. and towards china unlikely says horseflesh will economist at the frankfurt school

of fine it's. true some parts but not overall i seeing because it is a specific export of imports between the united states and germany and disk n.b. not compensated by china especially with regards to machinery but also to digital services and so forth and the force we have a different trading floor flow between chairman e. and china so only partly donald trump wants europe to buy more american made cars and that's why he wants the ten percent tariff for importing passenger vehicles into the european union to be scrapped the thing is dropping the purchase price alone is probably not enough to get europeans buying there are a whole lot of hidden hurdles before you can get yourself in the driving seat of an american cause. these cars have just arrived from the us but before they

can clear customs and bring them their brake fluid needs to be removed it's considered toxic waste in the e.u. taking the liquid out costs two hundred euros per car and it's not the only expense when importing u.s. vehicles. of it as it once you've got the maritime transport with all its costs packing unpacking handling customs clearance then you have a ten percent levy on the purchase price and the maritime transport and then nineteen percent value added tax on that total price plus the retrofitting. friederich count often lived in the u.s. for years and has close connections to car dealers his company doesn't only handle new cars but also classic models for enthusiastic if the paperwork is ok importing them is no problem. just some years we have forty percent new cars sometimes sixty percent the rest is from ex-pats or used cars. the small firm imports about one

thousand cars per year the vehicles have to be retrofitted to comply with the regulations so they can pass technical inspection. the us cars often lack fond lamps and separate yellow turn lights moreover there can be no yellow blue or red lights in the front of the car. i feel good these stripes still had yellow lights this morning i had to take them out it's not allowed in germany parking lights always have to be white. the retrofit can be tricky the company even developed its own switching relating to make american and european technology more compatible most u.s. carmakers don't have the european market in mind in germany the best selling american car is the ford mustang which is still a nice product. orders for them today a german car with a vs motor at least one hundred thousand euros my guess is that the v.

eight ford mustang costs about forty five thousand euros that's a huge difference. and believes neither the one thousand euro retrofit nor the ten percent duty really prevent customers from buying american cars the vehicle simply don't cater to european tastes. and joining me now our correspondent in frankfurt and andrea hang in singapore and brad like to start with you we heard just a few moments ago about the facts actually for batteries sells at c a t l wants to build in germany how big a deal is this decision and is it business as usual from china or a sign of something big. but it's a little bit of both danielle and it's they're both happening at the same time china has been very active in the end easy or a new energy vehicle sector domestically and difficulty that alone has accounted for more than house of the global and evie ownership as of twenty seventeen so this deal probably signals their increasing foray into the end even market all the seeds

ok let's get the european you now from laws china's been criticized in the recent past for shopping for german firms with valuable intellectual property so how is this latest move to buddy up with europe going down and. well mostly daniel i think it's really still seen as a positive most german companies are interested of course in a stronger partnership and even an investment from the chinese and i think most of them all of them want to also be optimistic about it but of course at the same time everybody knows that's trade cannot be a one way street and that china has to create a level playing field everybody is aware of those restrictions that we've talked about a lot in the past when it comes to investment when it comes to partnering up with a chinese company german companies having their problems there and it is of course one thing for china to present itself as free trade champion but is an entirely

different story daniel those who actually put that in place and become one so an overall positive you say but as the u.s. china trade tiff cooks up a new survey shows some big investors turning away from stocks laws where do investors run for cover in this kind of trade war looming trade war if we haven't got there yet. very interesting in a very difficult story here we're talking in this particular survey that you mention about the sovereign investors those are central bank managers and those are investors that deal with government money so we're talking really really big money here seventeen trillion dollars worth just in that group that participated in the survey and yes they are getting out of equities they don't really see much wiggle room here in bonds because of the low interest environment that we're currently in a lot of them try to put their money into alternative investments as like real

estate or infrastructure of course that is very tricky so let's join the dots here and drea what concrete steps is china taking to open itself up to greater forward ties it's announced plenty of reforms before but foreign businesses have still felt shutout. exactly i think leaving all around about china is inability to open up in a lot of this comes to just being empty promises but it seems that with whatever is going on in the trade a sphere is forcing china to open up and keep its promise after all and we're already seeing some of these efforts in the blue chip share market and it looks like china may deliver on this renewed pledge particularly with the e.u. but that does not however mean that china and the e.u. are going to form a coalition or partnership of sorts against the u.s. with the treat war happening between or three of them so we have to see whether the words translate into actions andrea hang in singapore and last how to in frankfurt

thank you very much for that. another car maker says it's cheated on emissions tests shares in down nearly five percent after the carmaker admitted it had manipulated data on exhaust emissions and fuel economy the japanese company did not say how many cars were affected the cheating was uncovered during a voluntary probe into production the revelations come as a blow to miss ann's efforts to recover from a scandal last year over substandard inspections the company is promising a full investigation into its latest fake data scandal. to my favorite topic now breaks it markets have been jittery following the resignation of britain's bricks and secretary the pound starting lost around a third of the u.s. cent on the news before bouncing back to its highest level since mid june this is analysts expect the departure of david davis could boost market sentiment on

a long time when euro skeptic was a critic of plans to allow the free trade of goods with the e.u. but he shrugged off suggestions that his resignation threatens the survival of the british government. now it's time for us to quit too that's all feel business update don't forget you can also catch us on social media i'll be back in the next hour with even more of your business news so until then keep it on . the to. the to.

the to. the to. the to be. found the to. the least at full speed. china. korea. but always on the move. mostly today and in the future. try again next week for. mobile for.

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