it's the biggest wave of punitive tariffs yet u.s. president trumps new duties have made two hundred billion dollars worth of chinese imports more expensive china it's straight back. also on the show as brics it's talks enter the final stretch irish horse breeders look ahead to see if they're on track to lose lots of money. and backtalk authorities are you victims streetside food and other vendors in what they claim is a push for more hygiene and order. it's time for business on the w m how you know you're welcome to the program we start with a never ending story u.s. president donald trump has announced yet another set of tariffs on chinese products this time it will hit things like copy machines memory chips and many consumer goods the new duty essentially said at ten percent will affect two hundred billion dollars worth of imports as expected the chinese didn't just sit there and watch.

a matter of hours after a u.s. president donald trump slapped his biggest tariffs yet on china china fired straight back from beijing tariffs on sixty billion dollars worth of u.s. goods casting doubt on any willingness to make a deal in the near future uncertainty is now growing as to whether the two economic superpowers will hold trade talks as expected later this month on the book you saw groove on we keep stressing that the dialogue and consultation based on quality good faith and mutual respect is the only right way out of the trade dispute. but what the u.s. is doing now shows no sincerity and goodwill for found out soon that china's counter attack comes in response to washington's move to slap two hundred billion dollars worth of tariffs on chinese goods overnight on monday those duties are set

to come into effect on the twenty fourth of september starting at a rate of ten percent rising to twenty five percent at the end of the year and targeting mainly consumer products ahead of beijing's retaliation president trump appear to think the move was enough to force china to the negotiating table so china is now paying us billions of dollars in tariffs and hopefully we'll be able to work something out with i think they want to make a deal they don't want to make a deal but i can tell you they want to make a deal. but from our standpoint it has to be fair it has to take care of our workers but both a condom e.e.'s could now be losing room to maneuver aside from tariffs already implemented or imminent trump has also threatened further punitive taxes on two hundred sixty seven billion dollars worth of goods in other words tariffs on almost every single product china sells to the united states. definitely time now to check in with our new york financial correspondent yes call it a high end cisco to see you again now we see most indices in the green yens why is

the market so calm in all of this. it's not just that most amusing green but actually the s. and p. five hundred and the dow jones industrial average are almost at a record level and serbia saw a very strong session here on wall street to one reason might be that the terrorists so far are considered to be moderate at least when you talk to investors over here and some experts fear that we might have even seen tariffs on those two hundred billion dollars in goods not all of ten but twenty five percent but u.s. president donald trump is probably well aware that the holiday season is coming and he doesn't want to hurt u.s. consumers too much and then also we have for the midterm elections coming up and then there is still a lot we do not know what's going to continue when we talk about the trade

dispute but what investors do know is that the u.s. economy so far looks pretty solid corporate profits are looking strong and then also u.s. corporations are buying back their own stock at record levels and all of that support of the stock market at this point and he and his folk about moderate measure so far now let's take a look at the other side because with china importing far less from the u.s. than the other way around its ability to respond with tariffs on u.s. products is limited we know that but what other options to china have. well there are a couple of measures that china could take before one for example they could to devalue their own currency and there was that at least make up a little bit of the higher tariff so the prices of chinese goods won't be gets too high in the u.s. then there is another possibility that china could block certain

exports of some crucial components for the u.s. industry so they could hinder the supply chain that could also block exports of some crucial raw materials even if that doesn't seem to be too popular with the chinese government either and then finally china could also stop buying u.s. treasuries china is the biggest foreign debtor of the united states sold that could also be an option but all of these measures i just mentioned also could backfire to a certain degree to chinese to the chinese economy so you have to be seen thank you very much in new york for your analysis to corporate news now and a man in trouble or at least so it seems tesla confirmed on tuesday that it is being investigated by the u.s. justice department prosecutors opened a fraud investigation after c.e.o. elon musk tweeted last month that he wanted to take tesla private and had funding secured for the deal that caused the stock price to jump but musk then backed off

talk of going private normally taking a huge company private would be explained in detail before hand to regulators the carmaker is also facing an investigation by the securities and exchange commission and lawsuits from investors tesla's value has fallen by almost a third since last initial tweets. and as the countdown to britain's exit from the e.u. continues more and more sectors in and out of europe are preparing for a worst case no deal departure and that includes industries that probably don't immediately come to mind take ireland for example which is considered an equestrian country horses and everything around them is a billion euro business there but eighty percent of irish thoroughbreds are sold in the u.k. now the industry fears much of their business could be harmed by tariffs. there's

always room for a bit of glamour. here at the leopardstown race course in dublin the horses are warming up. and the bookies are doing stellar business. horseracing is deeply ingrained in irish culture and the industry is worth a lot of money. with an annual turnover of around one point eight billion euros it's an important economic sector for the country but there are fears that briggs it could slow the industry from a gallop to a canter the worst case scenario is that barriers are put up on horses are not allowed to move freely across the border as they are at the moment they have to be subject to veterinary checks or perhaps there is a tariff for a charge for horses to move into the country those twenty five thousand movements of horses every year between britain are in france. race horses are often

transported internationally by plane or ship. traditionally there have been close links between the horseracing industries in ireland and in the united kingdom. the overwhelming number of horses that you would find running on the race meeting in england are actually are each bred bloodline so the import and export between art and great britain is absolutely vital to the huge industry that it is and the. worldwide ireland ranks number three for thoroughbred horses. a full sired by this stallion called invincible spirit will set you back one hundred twenty thousand euros readers around the world bring their mayors to ireland for an encounter. breaks it is a huge risk for an irish star brad industry a because obviously where detached from mainland europe for a horse for example like invincible spirits a lot of the mayors will use the u.k. as a land bridge so if they have to take

a lot longer to get to where they need to go to there becomes a risk naturally breeders will decides not to travel and will decide to use the stallions at home. every year brit spend two hundred fifty million euro zone thoroughbreds from their irish neighbors no wonder then that when it comes to freedom of movement many irish are concerned about their horses as well as themselves. it's hard to imagine bangkok the thai capital without street vendors but the local authorities want to tidy up the street and are now shifting away street vendors to less attractive locations the vendors claim their livelihoods are being threatened well some say the plan could strip the city of its charm. life has become harder for digital and its business has been struggling since bangkok city authorities banned street vendors from parts of the city areas that are high traffic and frequented by tourists now he only makes around fifteen dollars a day. don't worry i tell you how full the income is gone. why

don't the authorities manage the areas like they did before. of course they should make sure that the streets aren't messy but they shouldn't have picked this. up and have put it like. banknotes authorities want to clean up the city they have moved more than twenty thousand street vendors from several locations since twenty sixteen and they have identified more locations where vendors will be evicted but their plans to. do more than just disrupt the livelihood of the city's street vendors critics say they are redefining bangkok's landscape yes i agree that you need good management but then no i don't agree because i would like to keep bangkok as it is you know available exotic good for it for the public so i didn't see some middle ground i think i had to manage davos straightforward clearing out everything . that's all torn and other street vendors want

a plan that will allow them to stay and maintain their livelihoods. that's all for business thanks for watching i'll see you next time to caring to buy. a.

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