terry nationals are scrambling to protect their bottom line tesla is the first u.s. car maker to high prices in china and also says it's opening a new factory in shanghai it all to escape donald trump swore off tariffs. and a call for a complete. trade talk to the mound behind a petition saying no more loopholes. and this is your business update it's only a week since the latest tit for tat tariffs from china and the united states but. already scrambling to readjust supply chains to the goods belt for the u.s. do not pass through china and the first american carmakers are raising their prices on the chinese market to make up for the high. test is the first american company announcing that it's raising prices in china the move

comes in response to beijing's decision to impose tariffs on a range of u.s. products. china is the world's biggest car market tesla cannot afford to be priced out years plans are already underway to build a factory in shanghai which would enable the company to avoid tariffs in the future . germany's b.m.w. is also planning to introduce price hikes in china that's because customers there buy s.u.v.s produced at b.m.w. plants in the united states. the company manufactures its x. series at its plant in north carolina each year around a hundred times and s.u.v.s produced their go to china b.m.w. is also ramping up production in china in response to its new tariffs on u.s. imports. all right let's turn to financial correspondent stan score to new york yes so as it just is building a factory in china but at the same time it's analysing high oil prices in china so

does that mean they are likely to go around the u.s. to produce even cheaper in china and china made it official on tuesday that they will start a new factoring their cars in china probably in about two years and i'm quite sure that those plans have been in the making a way before this trade war if i may call it has. already started to china is the second biggest market for tesla behind the u.s. saw in that respect it makes sense to make sure you produce cars within china and the stock of tesla traded to the upside by a good percent and what makes the steel especially important is for the very first time a foreign car maker is allowed to manufacture cars in china without a chinese partner. and yes why is it then the markets seem to be so far at least unaffected by the on going terrorist battle. well investors on wall street

seem to be tired was all those trade talks and actually not that much is happening at this point at least not that much news so investors on wall street are rather focusing on the upcoming earnings season that will really kick off on friday when the first big u.s. of banks will come out with their earnings reports and overall wall street is a very there this earning season will be brilliant partly because of the tax cuts of the u.s. president donald trump partly because commodity and oil prices have been increasing and so especially in the commodity in the energy sector investors are pretty sure that profits more than doubled in comparison to last year's or quarter overall wall street expects their profits will increase on average by a good twenty percent it was that it would be the second best earnings growth that we've seen in the past eight years and therefore stocks are up by the way for seven

stay in the past age trading days very optimistic wall street in new york thank you so much for your update. in london for a summit aimed at boosting economic and security cooperation the balkan states also hope to join the european union the summit brought together at present tense of six pressed the balkans nations. kosovo less to do any of montenegro and syria as well as seventy year nations including germany it's part of a diplomatic initiative that began in twenty fourteen just promise to make plans to increase funding to fight organized crime drug trafficking and terrorism in the region. one rhinos killed every seven else in africa an elephant every thirty minutes and what's to blame well the greed for ivory predominantly in asia for example china pool the emergency brakes last year

and put a strict ban on the legal ivory. but european regulations are fool fuel polls with these asterisk consequences as our next report shows. these two elephant cubs may soon end up like this more elephants a killed by purchase every year than on form despite various trade embargoes ivory is in high demand while white. various countries in europe have become hubs of the international i free trade in germany alone thirty's confiscated one point two tons of illegal ivory in twenty sixteen the trade embargoes in europe and full of loopholes the resale of riflery that was purchased before one thousand nine hundred eighty nine is legal if the ivory comes from animals that died of natural causes they can also be sold legally but these loopholes are exploited by traders to smuggle illegal ivory and by the illegal trade a study by the international fund for animal welfare the i f a w has shown that

various ivory products are traded online without certificate. animal rights activists and now handed a petition to the german in thirty two countries that appeal to the e.u. to finally shut down the ivory market. or as if you thought illegal ivory trade is a thing of the past this report definitely brought up to speed because it's not and there's a whole lot more more to this so let's bring in class and animal rights activists for wildlife in hamburg thank you so much for joining us now along with the funny fellow that there is already a tight restriction to prevent illegal ivory trade what's the problem here. yes. the main problem is what just was said that still now more than twenty thousand elephants are killed each year they are parched because of the ivory ivory trait so and this is possible because we have legal loopholes in the legislation in

europe but also in germany that means that under us circumstances if some preconditions are met the ivory trade can be legal for example if it's on t.v. so i every is. really quiet to be fought nineteen seventy and forty seven then it's possible to treat this legally additionally and that is the problem you have the illegal trade and for the enforcement authorities it's quiets challenging even impossible to disk tin wish if this all the legal illegal so the leap loophole is existing in the current legislation we have to close and to have to shut down the very markets in europe and also in germany right but if this loopholes are known why is brussels for example not tougher on on regulations. that is

a good question we have to say that there is still a decision making process ongoing but we are waiting waiting for that gesture from the commission to suggest the member states what will be the next steps but we have also to say that the e.u. commission is depending on support to support from member states european member states such as germany and that this are reason why i for is also the german government take on the responsibility to save the remaining an offense shut down the still existing i remark and i reach eight in germany and that's what you expect from your petition that was handed in today robert class thank you so much for your insights. a jury in california will have to decide whether my son to a sweet killer round up is to blame for the cancer of a forty six year old groundskeeper it's the first trial in which round up is said to have caused cancer

a claim repeatedly denied by the chemicals company and this spewed it by a number of independent scientific studies now if successful the legal challenge could open floodgates of and against monsanto which was recently acquired by the gym and chemicals heavy weight why are more details. we're not doing johnson used roundup and range of pros regularly for two years in his work as a groundskeeper his lawyer told the court that the herbicides active ingredient glide for sight in combination with other chemicals gave johnson cancer. monsanto's legal team disputed his account citing scientific studies supporting life sites safety claims persons went down by independent scientists by university scientists by government scientists it's been evaluated. round up is one of the most commonly used have asides in the world it's been suspected of

causing cancer for years in november last year the e.u. renewed approval for glyphosate for five more years after a long period of debate and strong public opposition critics suspect financial motives behind the decision life aside containing herbicides are very lucrative for companies like monsanto and bio. and the agricultural industry isn't prepared to stop using the weed killer as the court decision will be closely watched not least by hundreds of other can't supply since it also launched lawsuits by or will be on the edge of its seat to just up to finally completing its sixty three billion dollar acquisition of monsanto last month. today for the latest from the world of business for more hatto upside that's. thanks for watching.

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