he watching the news a lot more to tell you about here's what's coming up. china's prime minister looks to boost ties with for a landing in the face off with the u.s. tariffs that's coming up for daniel in the winter right after this break and i'll see you again at the top of the hour with an update of the have minds. they make a commitment. they find solutions. instructor. africa on the move. stories for both people making a difference shaping their nation. and their continent. d.w.

multimedia series for an hour for a cup of tea w. dot com now for going on the move. things around beethoven. his work in that god is for tonight. the munchies and fever. just gone to enjoy. it i think as the u.s. continues to alienate its former trade allies china and cheer up a force to run into each other's arms the leaders of china and germany meeting today to talk business also coming up forget trump's tower of tirades we look at all of the hurdles apart from the purchase price which put europeans off american

auto. and done the winter of this your business up that. china has declared itself the de facto 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 large china's looking for friends elsewhere so of course close economic ties are on the agenda as china's premier meets germany's chancellor today but the friendship comes with some 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 science now depend on good relations more than ever since the u.s.

imposed punitive tariffs on chinese products fear 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. 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. that may be 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 association say those impediments are increasing rather

than decreasing. and we spoke to a whole slush will economist at the frankfurt school of finance asking him if europe can pivot its trade focus or way from the u.s. and towards china. through some parts but not overall because there's a specific export of imports between the united states and the disk n.b. not compensated by china especially with regards to machinery but also to digital services and so forth and so forth we have a different trading floor flow between truman and china so only partly 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 fact factory for a battery that 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 that. puts a little bit of both danielle and it's 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 half of the global and evie ownership as of twenty seventeen so this deal probably signals increasing foray into the end even market over the seeds ok let's get the european view 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 in germany last. 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 there 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 tift cooks up a new survey shows some big investors turning away from stops laws where do investors run for cover and this kind of trades wall looming trade war if we haven't got there yet. also very interesting in a very difficult of 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 and they've been complaining all around about china's inability to open up and 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 already

seeing some of these efforts in the blue chip market and it looks like china may deliver on this for a new pledge particularly with the e.u. but that does not however mean that china and the e.u. are going to follow me coalition on the ship of sorts against the u.s. with the treat will happen in between or three of them so we have to see whether the words translate into actions andrea hang in singapore and laws how to in frankfurt thank you very much for that. the brics a dream is dying the words of u.k. foreign secretary boris johnson shortly after quitting a few hours ago now his resignation has sent the pound citing more than half a percentage point against the euro stock market reaction has however remained muted british firms welcomed the industry friendly plans for bracks said may that's prime minister threesome i had outlined of last week's check is meeting the prospect of a softer exit with the u.k. maintaining close trading ties with the e.u. seem to meet the demands for more clarity from business among them have been about

whether those plans seeking to inflict minimal economic down the damage can stay on the table has now become an open question. donald trump wants europe to buy more american made cars and that's why he wants ten percent tariff for importing passenger vehicles into the european union to be scrapped the thing is dropping the patches 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 car. these cars have just arrived from the us but before they can clear customs and bring them there 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. other than the trucks 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 one thousand percent value added tax on that total price plus the retrofitting. friedrich count often lived in the us 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. but 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 forgot 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 relay 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 v eight motor costs at least one hundred thousand euros i guess if the v. eight ford mustang costs about forty five thousand euros that's a huge difference. friedrich uncle friend believes neither the one thousand euro retrofit nor the ten percent duty really prevent customers from buying american cars the vehicles simply don't cater to european tastes. and starting with cars another car maker says it's cheated on emissions tests shares in this and

a down eighty five percent of the carmaker admitted it have manipulated data on exhaust emissions and fuel economy the japanese company did not say how many cars reflected the cheating was uncovered during a voluntary probe into production the revelations come as a blow to this and efforts to recover from a scandal last year over substandard inspections the company is promising a full investigation into its latest fake data scandal. and now like so many u.k. cabinet ministers it's time for us to quit that's it for this edition of your business news but don't forget you can find much more all of us on social media just such from new business will be taking over the old business news for the next few hours so keep it here.

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