a big day for chinese trade relations the country's striking back at u.s. tariffs plus the e.u. stop bods meet with their chinese counterparts demanding more access from european businesses also coming up next it has the u.k. successful aerospace industry fearing for the future and larger bank defies expectations with some healthy earnings but the firm isn't out of the weeds just yet. i'm daniel winter and this is your business update china has filed an official complaint with the world trade organization against the united states it says the u.s. has broken the rules by imposing two hundred billion dollars of tariffs on chinese goods meanwhile the summit in beijing president of the european commission join claudio encourage china's top politicians to open up the economy to foreigners chinese premier league painted his country as a defender of free trade routes you say june china and the e.u. are willing to talk about reforming and improving the w.t.

on the basis that it maintains its core principles and continues to operate based on rules that foster free trade mostly so on the one hand you've got china saying it wants to enforce global free trade on the other hand the e.u. has long complained saying china's intense bureaucracy strict rules and subsidies make it extremely tough for foreigners to access their market so could trade tensions soon have an effect on the country with the latest stats today show the country's growth as we go to the end slowing slightly as you can see and china thinks that this figure at the end could go down further for the year now much of that is the result of china trying to offload a bunch of debts but with a booming trade war the economy could be lacking the firepower it needs to push forward what's clear from this is is that we're seeing headwinds for china's economy well it's not just china that's complained about the u.s. to the w t u t oh yes cultures fall and back and forth for us from wall street so

we heard that the u.s. has officially complained launch complaints with the w t o against china and others it was actually mean for the countries involved. yeah well that's what the u.s. is doing on the other side especially when it comes to the steel and aluminum. tariffs that the u.s. is imposing the u.s. is saying those are justified to because national security is at stake but on the other side the retaliatory measures from the european union from china from mexico or from canada are not justify and that's why the u.s. is filing its own complaint with the world trade organization for the short term that doesn't really mean much because it will take time at least by the end of twenty nine to get any kind of decision of the world trade organization there is no immediate effect here so we heard

a little already about china's slowing growth how is all of this trade conflict affecting the prospects for economic growth. well we had a new report on monday from the international monetary fund and they're actually saying their global economic growth has told that the greatest risk especially our . trade. the trade problems and they have floored the i.m.f. has lowered the growth perspective for the european union for japan for the u.k. and so far they leave the outlook for the u.s. stable but to trade. it is especially one of the greatest risk right now but we have to wait and see will the u.s. for example really impose those tariffs on goods in the amount of two hundred billion dollars by fall or not there is still a slight chance that this might actually not happen and that's why we often see

those forecasts revised but will it be revised up or revised down the court will just have to see what happens thank you very much. as all the drama over towers rattles on donald trump's trade policy is quite simple making america great again of course pushing that policy requires flags welts of flags that show he provides a boost for the american flag makers you might think well think again. the how flag company and china's on the province is busy despite the trade war between their country in the us it's all about supply and demand and business is booming here even with all the buy american rhetoric at home the trump campaign has their reelection flags made right here in this factory how produces around ten thousand trump twenty twenty flags per month factory workers here hope the new tariffs won't affect production. and tariffs ordinary people

like us won't have any profit margin. it will be taken by the state. of course we hope it doesn't happen if they add more tariffs sales will gradually decrease a little the sales will drop on some flags if they get too expensive so we hope that doesn't happen. but for now business is still booming with republicans in the us gearing up for donald trump's reelection campaign by churning out thousands of american flags and reelection banners the trump family has been criticized for having their company's products produced in china despite trump's insistence that americans buy american made products. now if you're anything like me you love a good show the latest and greatest models are all that well one such show when found brought in the south of england prime minister theresa may have her shiny new bracks up plan on display the problem is no one knows if it's hooked plan that will

take off when businesses still fear a bumpy landing. aircraft makers have been flying high for almost a decade now pushed up by rising demand now they're showcasing their new a shining it's informed. but a change in political landscape could spell turbulence ahead the sector depends heavily on cross border trade in plane parts so a break that related disruption in the movement of goods and services would be costly. british prime minister to resign me sought to sue the industry fears that the airshow she offered more than four hundred fifty million dollars in new funding for the industry and she announced plans to build a new fighter jet doubt the tempus place the eurofighter that speculation for exit could upset cooperation in this field too i want to ensure that the u.k. remains one of the best places in the world for aerospace companies to do business to continue as world leaders in innovation to make the most of the huge

opportunities that exist. because this is an incredibly exciting time for aerospace not only is the huge growth potential but many of the developments taking place have the potential to transform the way we fly airbus for one has announced seventeen billion dollars worth of deals so far at the farm bureau airshow just last month it said it could quit the u.k. overprice it but since the release of may's proposal to try and keep the free trade area between the e.u. and the u.k. airbus has said it's cautiously optimistic. the u.k.'s main aviation industry group echoes the sentiment but insists much is still up in the air. now for a change some good news from deutsche bank germany's biggest lender says it will make a second quarter profit of four hundred million euros far exceeding expectations that impressed markets and sent its share prices soaring the new c.e.o. christians even is restructuring the bank cutting thousands of jobs from shrinking

its investment activities that's led to lower costs and spending on legacy litigation is also down savings says the higher profit shows his reforms are working concurred a huge full year loss last year. but there's still a lot of ground to cover for dodge a bank and its new c.e.o. before the share price can recover properly as our financial correspondent ali bots reports. both are banking on two it's causing about seventy percent higher than on friday but also a close above the level of euro's for the first since the month of may. there by two investors are who wait for the door for bank on the market down there can climb again one more it's an important signal coming from the second quarter results but who a parable years the bank in the position of improving its. builder it predicts.

you know when it's not coming. for example. or benefits from selling a business unit. other nice strategy by the news. may not bring. quickly enough down in earnings. in order to affect the whole turnaround. reporting from frankfurt that. is a not been transparent with its pricing say the european commission the convenience of holiday rental service at b. and b. has been a hit with customers and in the firm almost one hundred million dollars in profit last year but the e.u. says it must be clear about extra fees and charges on top of the rental price. at first glance a b. and b. can look like a real bargain that is until additional charges are added at the end of the booking

process charges for services like cleaning and b. and b.'s agency fee the european commission says the procedure misleads consumers welcome to the coming together. on air b.n. b. to align and conditions with. and be transparent on the presentation of prices. does not fully comply. the commission also wants a b. and b. to show clearly if the accommodation on offer is private commercial there's different consumer protection regulations apply. has long been a thorn in the side of hotel operators as well they say a b. and b. unlawfully sidesteps the vast range of regulations they are forced to adhere to. the sheep. and that wraps up business news for today don't forget if you want more check us out on social media. business on facebook and twitter i'll be back with

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