tv Business - News Deutsche Welle October 19, 2018 7:15pm-7:31pm CEST
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post he was a public critic of the saudi government. you're watching g.w. news still to come the european union welcomes asian leaders to talk about the so-called asia connectivity strategy where does that leave the united states we'll hear from the governor of the u.s. state of new jersey in business in just a moment. and europe teams up with asia to push for free trade but with a push the u.s. way that's what we'll find out there will be here with other much more. i'm not nothing but. sometimes i am but most end up in with. the deep into the german culture. new jersey ridiculous grammar you know it's all that.
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time right so join me for me to get funky to post. what's coming up for the book borders but you'll have plenty to talk about here on . the monitors legal every weekend here. in. europe teams up with asia to push for free trade but will it push the u.s. away i asked phil murphy who's on a trade mission here. and how the french port of kalai is already getting ready for brakes it. i've been physical and let's do business the united states says it's losing patience with the european union on trade talks at the same time the
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german chancellor has issued a rallying call for free trade is e.u. when the asian leaders meet transatlantic ties to talk sake but the u.s. in still key for europe. half of all german companies now in the u.s. plan to boost their investment even more planned to hire new staff that's according to a recent survey from the german chambers of commerce america remains the largest economy in the world business is booming which is leading to more investment and more consumer spending. as promised the trump administration has been business friendly trumps tax legislation slashed corporate rates from thirty five to twenty one percent and he's cut regulations. that's good news for businesses focused on the u.s. market but for those producing for third countries things are more complicated the turbulent negotiations around the north american free trade agreement only recently concluded left north american supply chains in doubt the ongoing trade dispute with
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china is also hitting foreign companies european automakers are already facing chinese import tariffs on cars coming off their u.s. assembly lines so where does the balance lie for european businesses in the us net positive or negative that may depend on the company itself. i got the chance to speak to the democrats phil murphy about transatlantic ties but i asked what a governor from new jersey is doing on a trade mission to europe. first of all thrilled to be here i'm a former u.s. ambassador to germany so it's a country i know and love there is already a strong bind economically between new jersey and germany about eight billion dollars of economic activity german companies employ twenty five thousand new jerseyans we think it could be a lot bigger and a lot more particularly in the innovation economy what's stopping it from becoming a lot more and a lot bigger what you've got to come over here go face to face and ask for the order which is why we're here this week we're in berlin homburg frankfurt darmstadt
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again a big emphasis on clean energy technology startup culture we think there's a lot of lot of growth opportunity but what do you have to come on your own why don't you have a government that's representing you backing you making investments for for america in general so we've got a got a delegation with me but i think folks companies want to talk to the boss they want to know what you're going to do particularly in a time of volatility in washington and people questioning the strength of the transatlantic bridge governors have never met or more so they want to see the governor eyeball to eyeball and say can you please give me comfort that your state's going to be the place for me to go is the boss trump. it will he is the big boss yes but i'm the new jersey boss. again there's a lot of volatility in washington the i'm a democrat i'm a proud democrat but i'm an american i think there's too much volatility right now how is that affecting business as you've been talking to i think folks are sort of questioning what's going on with cherubs and trade policy and sanctions and should
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i be rethinking my advice to them is no i'm an optimist this too will pass it may be frustrating now but it will pass but maybe more importantly try to connect yourself with governors and with states who understand the transatlantic bridge i kiddingly more than kitty was say to all of the german companies i'd be with there's no other governor in america who understands germany better than this one and so we're really. when the feedback has been outstanding isn't trump making trade fair i mean he's going about it in a very strange way many would say but isn't he at the end of the day trying to make a level playing field you know he's not all wrong and i'll take china as an example that's benefited enormously from playing on an unlevel playing field he's right about that he's not right in my humble opinion his approach there's a way to do that there's a way not to do that there's been a robust discussion on nato defense spending burden sharing for many years well
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before donald trump was president that's an unknown discussion there's a way to handle that there's a way not to handle it i want to come over with an outreach to arm and hand and say new jersey is open for business we are the innovation state if you've got a technology life sciences cyber clean energy company big or small we want you to be in new jersey it'll be worthwhile so would you say your president is more of a liability or a leader as it relates to the discussions that i'm having this week and we're headed to israel by the way tomorrow for a similar mission it's added volatility added so i'd like to see that tamp down a little bit i think the midterm elections are going to be very instructive if our party takes back one or both chambers and congress wins a bunch more governors i think the checks and balances system gets back into balance and we need that and you mentioned you've been meeting with startups what
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have they given to you that you could take away with you new joe's in full and as as far as the ranks go with investment and best is how can you get that back on track yes so we we in new jersey is i said have a warning innovation heritage but we've got big company focused at the expense of startups and incubators and so we're now driving directly in that we want the big companies to stay and more to come but we need to birth more companies. rolls are willing to folk out seven billions to get amazon's second headquarters fifty thousand jobs five billion dollars of investment that's a once in a century opportunity but the discussions that we have more often than not are with small startups and i think the answer is this is a great week because we're signing memoranda of understanding we're convincing companies to open up offices and one of the big wind players offshore wind players is going to open up in new jersey and we're listening as well as speaking about our story so we're learning we're seeing similarities and we're also here to say new
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jersey is a place you've got to consider going from germany's mistakes i mean this has been a very rough shifts to bring you a bull's a very pricey one and it's going to take a long time to get the energy vendor is a long time coming i know it hasn't been a smooth line but my my focus this week in the clean energy space has been exclusively an offshore wind germany's done that well new jersey's poised to be the premier offshore wind center in america we've got a plan for thirty five hundred megawatts that a media company rush rushing after this to talk about they're coming in and actually making some components in new jersey so the offshore wind space huge opportunity for us and just one more quick question as far as attracting startups go a lot of that requies venture capital of the question you want the state to act as a venture capitalist what experience does the state actually have of the state will
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pick stocks that we've got to what i think is a dynamite idea to have an evergreen venture capital fund where we sell off tax credits to big companies and use the proceeds to invest side by side with professional venture capital firms the pros pick the investments the only criteria is that the investment has to be in new jersey we think that's a great opportunity you add to that a deeper engagement of higher education with princeton rutgers and others. we think is the cocktail for success but you're talking about tax credits that is in effect money that would otherwise go to taxpayers or at least benefit tax every state uses tax incentives in one form or another with would have a very risky business as well but listen up we have used them to dole out to big companies and what we've got back over the past decade wage growth job growth and poverty we rank forty second forty seventh the forty ninth in america with with
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better cities big companies are doing about startups and in with startups ninety percent fail you but again you're talking about a win win win here ninety percent fail but the notion that that program is in place will attract an overwhelming amount of interest an overwhelming amount of young people otherwise might not stay in our state again you drop in academia in a in an aggressive way i promise you what they were not going to finish forty ninth based on that plan governor thank you very much for coming in today nice to see that all the brig's it uncertainty is giving french customs officials a headache trucks are still able to travel in and out of the u.k. without hindrance but will that change. most companies to cross the channel by ferry it's cheaper than using the tunnel each day up to fifteen ferries make their way from dover to cali carrying british goods to mainland europe two million a race used to be last year but checks are only carried out randomly this trucks
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heading to the netherlands. we checked to see if he was carrying more than ten thousand euros because if so he should have declared it sometimes drives to carrying as much as two hundred thousand and then they need to explain the source of the money it may come from alms trafficking. and will customs have more work post grex it will stricter controls increase congestion. there won't be more controls but there will be more customs formalities seven hundred additional customs officers will be employed over the next three years to process the flow this month french customs are working to raise companies awareness about the clearing process through customs we tell them it's a piece of cake and to get ready to. get ready fair enough but what for exactly this haulage company organizes sixteen thousand shipments to britain annually.
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but i'm not afraid of the changes in the customs process i'm concerned about my customers not being able to export anymore or that they could face difficulties in the export process or i'd lose some of my contracts. there are plans to expand the port of cali adding new debt and passenger terminals should we end up with a disorderly breck's it things around here are set to become a good deal more complicated. i start a business i think. tara
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