beijing calls its tariff turning china accuses the united states of starting the largest trade war in economic history this after washington slaps a new round of terrorism chinese goods from had banks to rights and with threats to ban the diesel vehicles from german city centers we don't see how makers of vans and trucks are increasingly looking towards electric power. i'm christopher kober welcome to the program market jitters around the globe investors are increasingly bracing for a prolonged terror of war stocks in asia europe and the united states slid on monday washington's latest import duties have kicked in for two hundred billion dollars worth of chinese products beijing a striking back targeting sixty billion dollars of u.s. goods with extra. workers in a chinese factory making flags and banners for donald trump's reelection campaign in twenty twenty if you want an idea of the irony and complexity of the trade

dispute between the world's two biggest economies here it is in a nutshell the dispute has escalated dramatically since this meeting between the american president and his chinese counterpart xi jinping almost a year ago so what's happened since then and what it meant for both economies let's take a look at last year the u.s. imported just over five hundred billion dollars worth of goods from china back in june trump impose tariffs on fifty billion dollars worth of them as of today further duties of come into effect on another two hundred billion dollars worth of products. on the other side china its imports from the u.s. last year totaled one hundred twenty nine billion dollars only about a quarter of the value of u.s. bound exports in the summer china responded to u.s. tariffs by imposing judi's on some fifty billion dollars worth of u.s. goods and now it's retaliated again by adding duties to

a further sixty billion dollars of u.s. goods but if the u.s. ups the ante again china doesn't have much room to move. meanwhile the war of words has also escalated here's what u.s. secretary of state mike pump aoe had to say about the trade war when he appeared on u.s. television on sunday. we know this much the trade war. against the united states has been going on for years. here's what's different this administration. determined to win it china for its part accuses the united states of bullying with no sign of a let up in the tit for tat dispute economists say the real losers in this trade battle are likely to be consumers in both. on trees. now for more let's cross over to new york and our financial correspondent and according yes as u.s. china terroristic end markets in europe and asia have posted losses on monday our

investors on wall street asked pessimistic finally the trade tensions also hit the u.s. market for the first time since u.s. president donald trump announced a new round of terrorists last a week ago we did trade to the downside was the dollar jones industrial average the loss was not dramatic but it was a downturn of almost two hundred points with blue chips there is a lobbying group called terrorists hurt the heartland and this group against more and more popularity hundreds of companies have already joined the cause and so to speak and a lot of companies varying from the toy sector from the chemical industries some from the car industry some tech companies specially the retailers the fashion industry they're all concerned that prices their costs are going to increase and therefore that will also lead to higher prices for consumers and how big the impact

will be remains to be seen donald trump all reason for now started with terrorists of only ten percent but that could change in the next couple of weeks or months thanks so now answer or come back to you in a moment. all prices have hit a four year high and the spike comes a day after members of opec the cartel of oil producing nations ruled out increasing output that decision to fire as calls from the united states with fears that the sanctions every imposed on oil rich iran will put pressure on global supply a barrel of brant crude now costs more than eighty one dollars and some analysts believe the cost could rise to over one hundred dollars as iranian sanctions take hold. now back to you and scored in new york against the u.s. president is pushing for lower oil prices but thanks to the fracking technology the united states has become the world's number two all producer and meaning higher prices would also mean higher revenue right now well and oil prices already have

been on an elevated basis for quite some time and yes that has led to an increase of production when you comes to fracking as you mention oil prices here in new york also gaining a good two percent on monday and this year it is pretty likely that the u.s. actually will become the biggest producer on earth just to give you a rough idea of u.s. oil production all about doubled in the past decades why output from saudi arabia or russia pretty much remained the same and we also saw that oil companies that actually traded quite to the upside here on monday it was all those oil stocks and the losses here on wall street would have been even higher against go to new york thank you now here in germany a chance at heads of car makers on sunday to discuss additional measures to avoid large scale diesel vehicle bans in german cities these so-called diesel summit

ended in conclusively there will be more talks later this week meanwhile some parts of the autumn and lot of industry are taking the initiative the buy and all commercial vehicle show in hanover for example is a highly charged. this van could be something out of a science fiction novel the urban attic will be able to master the road without a human driver. trade's been run for dusky likes that that's despite the fact that he's looking for something a little bit less futuristic. that's another two keys are just futuristic concepts we obviously need practical models and affordable vehicles right now i think the industry understands there's a huge demand if. chinese car makers are here to avoid he rented them access e.-v. eighty from psych half a year ago and he's happy with it it's not luxuriously equipped but it has other advantages most importantly fast charging technology. benefit and

effect this vehicle has a range of almost two hundred kilometers it can carry a load of one ton i can load a drawer system in there and it has a huge loading area and all that for a relatively interesting price i'm still waiting for the germans to make something like that. and. john there is presenting the evasions of its classic sprinter and vito models and void of he could be one of the first customers he's preordered an electric veto for forty three thousand euro's but he still has one concern the full battery only has a one hundred kilometer range. a solution would be a standard installation of fast loading technology which would enable drivers to recharge quickly but the main german car makers are dragging their feet could be customers don't need more range. hey i was out and it's we aim for one hundred

kilometers under all conditions also in winter and with heating and that's according to what customers said is the norm when it comes to their needs they drive sixty to eighty kilometers a day six times a week they can charge at night that should be sufficient. ski once to get a real feel and takes the vehicle first span from the outside the ito is very similar to its diesel engine cousin. already has ten diesel vetoes in his fleet so his workers would hardly have to adjust. steamer do. if these models were available now i'd be ready to say i don't have to settle for vans from nissan or the chinese ones because i'd also be taking repairs and service in the long term into consideration long as it's nevada from small transporters to heavy trucks with electric engines there's no more time for present and future prototypes buyers the production ready evy it goes now. advocates of

a cleaner and greener fashion industry say a shift in the way designers do business the pants on demand in other words it's on us to make the sector more sustainable others argue fashion houses are sitting on mountains of cash which could be used to change consumer habits here's what's trending at milan fashion week. the beauty may rule the catwalk but as soon as the lights go out fashions ugly underbelly is plain to see. clothing produced in sweat shops animals tortured for their for fast fashion that ends up in the trash as quickly as it's purchased wasting valuable resources for fashion industry is striving for a better image during milan's fashion week stars like cindy crawford or keep blanchett are presenting the second to green carpet awards honoring sustainable production and business practices in fashion. no one industry can tackle climate change. and the sustainability issues by itself but it's

a very pointy public industry and so that's when the for the fashion strays making such a strong statement businesses are increasingly attempting to shift to more sustainable production models including in the fashion industry however they still represent a small minority in the corporate world and that's unlikely to change until consumers change their habits. and staying with the industry u.s. fashion course seems to be pushing further into the high end luxury michael kors is reported to close to deal. italian fashion. a deal said to be worth over two billion dollars now for years the family owned italian fashion label has been considering listing on the stock market but the sales of the colorful designs by the company. declined those brands were put on are expected to announce on tuesday what the future holds for the iconic course just last year acquired british luxury label jim riches. and that's all the glitz and glamour we have for you with thanks

for watching see you back here tomorrow. we feel. the fast pace of life.

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