vote in a critical midterm election we visit parts of the south still waiting for the economic boom to hit other regions. and with that you're up to date after a short break gary hart all first will join you don't go away susan. led. to the.

lead. sanctions against iran are not just about oil the country's financial sector is hit hard too and it's not just about iran either many of its western trading partners are suffering but some just ignore the sanctions and keep on trading. as china holds a huge import trade fair there's a lot of rhetoric about opening a good opening its economy further but president xi jinping remains fuzzy on details. of the day ahead of mid-term elections in the u.s.

as trump and nor makes actually worked we go to virginia where drums tax cons have achieved very little. this is the the view business i'm going out of as well. as we've heard in the news fresh u.s. sanctions against iran will come into force today these sanctions will only hit iran's oil exports banks energy and shipping counters companies from other countries currently doing business there also affected time to for example the p.s.a. group who make sit around the persian and many others have already suspended their activities in iraq most european all companies including totality also winding down operations iranian oil shipments to europe have already fallen by fifty percent over the past year the u.s. wants the e.u. to drive down its a rainier oil imports to zero they also want iran to be cut off from the international financial swished system that's a global cross border payment work. have

a look at how real companies are affected by the sanctions let's bring in michael talk us he's the head of the german iranian chambre of commerce and hamburg michael this sirens are in place what are you hearing from german companies how are they affected and are they all affected equally. well good morning the situation is quite clear farce because the sanctions which are put in practice are well known for us since months the situation is divided they become phonies especially the stock exchange companies here in germany they stopped their trade and investment relation with iran the backbone of our economy small and medium sized companies they will continue to do trade with iran and weak specked every month between two hundred to two hundred fifty million euro with experts from germany to iran even in the future well the e.u.

has said it is trying to find ways round the sanctions as they you've been successful that. well that is the real disappointing part and the disappointing news of this day a lot of regions and countries so looking at china looking at russia they've managed to get waivers for their major trading productive and they can continue to trade especially oil with iran the e.u. gave a lot of strong political statements they were talking about blocking sanctions they were toy king about a special vehicle for financial transactions we were on and nothing came at least up to today i can tell you none of our member companies has one practical step forward one practical support from the e.u. we're from our ministries in in berlin that you showed was practically nothing to support the iran deal of talk not enough action the president rouhani of iran

said that his country will break the sanctions can that. will these sanctions again they are not totally new for us we had the time between two thousand and twelve and two thousand and sixteen where we had these kind of u.s. sanctions additionally e.u. sanctions and united nations sanctions and never it was possible to stop this country and neither from trading in machinery or from exporting their their oil the iranians have a lot of experience with these kinds of sanctions and this time they are not standing alone the russians are with them the chinese are with them and a lot at least of european companies are with them michael talk to us from their german iranian chamber of commerce and i thank you very much for your thoughts thank you very much. china has promised to further open its markets despite the

trade war with the us president xi jinping has pledged to boost imports and remove further trade barriers as far as details go he's keeping his cards close to his chest president spoke at the opening of an import export fair in shanghai where about three thousand companies from one hundred thirty countries exhibit goods and services this week the u.s. has placed extra tariffs on around half of u.s. imports from china and has threatened to intensify the trade spat with even more tariffs. spoke to our financial correspondent susan and frankfurt and i asked him for an update on how the u.s. china trade dispute is impacting companies in europe. well there are a few companies who believe that they can even benefit from the situation deutsche bank for example the boss of asia pacific unit just told the newspaper hundreds plot here in germany that he thinks his bank can position itself in china as an alternative to american banks but of course this is an exception most of the

companies here in germany are not happy about the trade spat or about the terrorists we see a huge amount of profit warnings during the last few weeks and months and now with the earnings season underway here in germany of course many investors are nervous calmer just oh let's have a look at the markets around germany and europe how did the week's dollars. not bad i would say given that the german share index dax gained around about three percent last week i think it's already positive news that the dax the markets here can't keep those gains today what's positive is that the banks in the european union all have passed the stress test of course there are a couple of problems of course in italy some of the banks in germany really super stable in terms of capital but they all. and this is positive news that sort of is

good for sentiment here. in frankfurt for us thank you. this tuesday voters in the u.s. go to the polls to elect a new congress of the poll called the mid-term elections because they are held rise in the middle of a president's term in office republicans praise president donald trump's economic policies since taking office he's lowered corporate taxes imposed import tariffs on steel of the minium and many other goods abrogated free trade treaties and last year exited the climate agreement. meanwhile america's economy is growing along nicely and showing strong growth when trump took office in twenty sixteen u.s. g.d.p. clocked in at six eighteen point six trillion dollars this year it'll probably more than twenty trillion unemployment also continues to fall but it is a downward trend that has started in obama's first term in office and continued

despite strong moved into the white house going from four point nine percent in twenty sixteen to now three point nine percent. so for many americans the booming economy is just not strong slating into real life improvements as fast as many had hoped for. richmond virginia a success story of the booming u.s. economy and to trump long gone are the days that big tobacco was synonymous for richmond economic progress the economic strength of the state's capital is in banking finance and biotechnology now that richmond success is in stark contrast to other parts of virginia this is reno southwest of richmond in the blue ridge mountains of the appalachian region the old railroad town and transportation hub is home to three hundred thousand residents. see is editorial page editor at the times and reports on the region's economic woes the number one industry in wrong now is

health care. the big employer years ago used to be the way our gallic the hospital chain the further west you go out of roanoke in the more rural areas. the less fortunate the economy will be welcome to burst still virginia the birthplace of country music literally seventeen thousand residents live on the virginia side of town twenty six thousand more in the part that is in tennessee the state line goes right through town in the middle of persistence stage street city manager randall eats just about a year in the job is taking us on a city tour and his golf cart bristol has a property rate of twenty three point six percent the town just lost another major employer a total of four hundred seventy people will soon be out of a job what was once the local go to shopping mall is no more that's reality in bristol despite trump anomic record job growth and tax reform economies are more

complex than just one korea being in control or one president being in control people will say that. mr trump is the one who has made the economy boom right now or others will say that it was because of president obama i don't think either one can necessarily take credit there is hope a chinese company bought american merchant to mostar textile production impersonal city and that's a few hundred new jobs desperately needed a local private investor group plans to invest they want to build a casino resort that is thinking big and outside the box as city manager randy and that is a must for press still in this positive economic climate because you know worst case scenario is we have a situation where the national economy takes a dip and we go into a recession or depression. bristol will feel the brunt of that at some point and when that happens if we continue to lose businesses if people are able to spring and then bristol will have a true had

a car and despite the current strong national economy people here need more investors and businesses betting on personal. to bounce off that eight fold jump in profit during the last quarter to seven point four. billion dollar c.e.o. masayoshi song has been criticized for his close ties to saudi arabia the money comes from that song condemned the killing of journalists. by saudi forces today but will continue to do business with the saudi king. that's all your business thank you very much for watching. the to . move.

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