the tit for tat tariffs your right if taking america announces two hundred billion dollars of counter tariffs to counter china counter terrorist which it imposed on american tariffs quite a few used to break it all down for you. cubans can apply for business licenses are counted out of the state lives a moratorium but is this practice just increasing inequality. this is your business update can we call it a trade war yet tensions between the us and china have gone up in all as america also says yes i'm not around of tariffs on chinese imports on the most recent list products as diverse as life human ahead dog. toilet paper it does sound funny but it adds up to two hundred billion dollars of products mattias already putting china off buying american made products there is more containers

apply ling up in shanghai and now to you mistakes apparently from the us that no move because they're too expensive since last week chinese customs so far as he's have been searching for meat and so imports from the us and slapping them with terms of twenty five percent customers in supermarkets of feeling the effects and the food industry is already looking for other supply is outside the us but washington insists on trying to changing its unfair trade practices opening its economy that's why the trumpet ministration is its trade for on friday america raised its duties on chinese imports china retaliated with similar tariffs on u.s. imports and now trumpets ordered the u.s. trade representative robot to place tariffs on a further two hundred billion u.s. dollars worth of chinese goods including food and agricultural products the chinese government has called the plans unacceptable. honestly the

u.s. is being a typical bully on trade china will take necessary action to protect our legal rights i also want to this is a fight between you need a truism multi-lateralism protectionism and free trade and power and rules china plans to hit back and has filed a complaint with the world trade organization. now all this turmoil means it's a very busy time for chinese castanets officials explaining what billions of dollars in tariffs could mean for the company's money factually a fact of products takes takes time and trouble china is encouraging companies to push towards all very expert markets and it's ambitious belt and drilled initiative even the project itself i've seen some setbacks. as its trade war with the u.s. rages on china is anxious to show it can withstand the pressure the commerce ministry has taken pains to show customs representatives helping firms come to grips with

the terrorists like whose rice wine is on the latest proposed list of products to be taxed but officials told chinese state television that duties imposed earlier are hitting its manufacturing sector the most of the whole year in our city there are three categories of enterprises and fall on the bearing industry on machine manufacturing and electronic products and we visited more than twenty companies. officials and frozen in southern china say their strategy is to push towards other markets especially those with an china's ambitious belt and road project that's the name of the initiative to boost trade and investment along the former silk trade routes from asia to europe to africa. and they will continue to expand economic and trade cooperation with countries along the belgian road and in the first quarter of this year export to these countries accounted for thirty five percent of total about the size of. the

economic cooperation with other countries within delton road has taken a few hits to corruption scandals political challenges and ballooning debt and the partner countries have kept the projects momentum in check the belt and road initiative may well have its limits as a counterweight to the effects of a trade war. it's time to cross so what's funny oh let's bring in financial correspondent hello. so china is looking to expand into new acts footlocker the previously what other possible to studies have to call to us tariffs. you have to put tariffs on u.s. goods are limited because the u.s. only exports goods in the amount of around one hundred thirty billion dollars to china but china does have a whole lot of other options for example they could start not buying so many u.s. treasuries anymore then american companies who produce and shiners it was not

considered to be imports there could be a stricter regulations there could be texas or there could be all kinds of possibilities for china to make their life for u.s. corporations not that easy in the future and staying on this story don trans hardline stance is having an effect on the pharmaceutical industry can you tell us more on that well on july first pfizer one of the biggest pharmaceutical companies in the country increased prices for valves and dozens of drugs and on monday u.s. president donald trump criticize those steps sharply and now on tuesday there was a meeting between the c.e.o. . and donald trump and now on wednesday five are decided at least for now to pull back those surprise increases not immediately but as soon as possible but if you look at the long term and what plans the u.s.

government has with the pharmaceutical and health care industry it's not that likely that pharmaceutical companies will have to lower their own prices it's more that middleman they probably will see quite some cuts and that's why the stock of pfizer didn't actually suffer that much and on a drum on the other side he celebrated this step by pfizer as a big victory for his own policy yes thank you so much for your analysis. cuba now or are self small businesses thinking about walking the country authorization of private enterprise after your own phrase but can expect tighter controls than before the communist nation worries that crazy or all of the private sector has fueled inequality may have a cost tax evasion and illegal employment are widespread small private enterprises such as beauty salons have tuned in cuba since two thousand and ten when former president roll castro launched reforms to modernize the economy. but

many entrepreneurs haven't been watching the rules closely enough tax evasion undeclared staff and failing to pay employer contributions have become common that's why the government stopped issuing new licenses for some business segments last year now they're all the rising businesses again but with stricter rules. it helps those perfecto work and to some extent it will end illegal practices in terms of fewer regulations and other things. although running a small business has transformed the life of many cubans for the better the regime fears successful business owners could threaten its grip on power so to keep individual emissions at bay when you rule states that business licenses will be restricted to one person despite stricter regulation hubert badly needs the private

sector to revive its crumbling soviet era economy. this month's marks the pink golf salsa dance hall or see the period between the depletion of food stocks and the next harvest seven years into its independence it's a humanitarian crisis leaving half of the country's population starving. heavy rain can come any moment during south sudan so-called lean season and distributing food becomes even more of a challenge but it's the ongoing violence that poses the biggest risk to food security unfortunately the conflict continues people continue to suffer and people in some places conflict still. desperate situation the war has killed tens of thousands of people and displaced another four million the country's instability is also hurting its economy which is

in ruins south sudan's currency has fallen steeply since the conflict broke out five years ago causing prices for goods and services to become extremely expensive and now more than half the population faces hunger. at the w f p food assistance is the only means of food for the whole family i live with my mother and i have no brothers i am the one taking care of the entire family when times are hard i walk to faraway places in search of food. last year's lean season left about six million south sudanese without enough food and without any prospect of sustained peace international aid organizations fear a repeat of the widespread hunger this month. ireland's budget airline ryan air is set to council a town percent of its irish flights on thursday as it prepares for a twenty hour strike by pilots the will call it will be the first in

a series of planned industrial action stuff in spain portugal and italy will carry out their own strikes later in the month ryan air is known for his no cost fares but critics say they come at the expense of good working conditions and fair salaries. britain stay to regulators find facebook fourth failing to protect teams of data it imposed the highest possible policy and that's five hundred thousand pounds that is less than what facebook earns in ten minutes this after the social media giant allowed inappropriate access to personal data of almost eighty seven million users to the consultancy cabarets consultants a from carriage analytical to british firm denies the accusations and says filed for bankruptcy. and that you are business frappe my colleague daniel winter is here tomorrow same time same place thanks for watching.

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