good aged tong speedy on the table in the trade spat between the e.u. and washington russell says it could cut us can't import tariffs is part of a trade pact we'll find out how it straight is almost street are reacting. also on the program coming from all directions now while weighs on the fire an american criminal probe into the chinese tech giant and germany considers barring it from five g. networks. and they call it sri lanka's need to buy china is building a brand new port city just off sri lanka's shores the country's leaders hail it as a great achievement but not everyone is convinced. this is your business update i'm going to home free glad you could join me there appears

to be some movement in the trade dispute between the u.s. and the european union now brussels says it's prepared to get rid of industrial tariffs and tariffs on u.s. made cars the proposals are seen as the e.u. taking a step toward u.s. president donald trump's demands the office would benefit the u.s. in particular. american industrial firms that export products to the european union will be the big winners of import duties are abolished as proposed by the hue. u.s. firms currently pay a five point two percent tariff to sell their goods in the block in the other direction european firms pay a three point five percent import tariff to american tax authorities brussels plan would also see the end of june teas on cars and car parts an area in which american firms are disadvantaged they pay ten percent in tariffs while it is only a mere two point five percent on similar european goods we are prepared to put our

vehicle tariffs on the negotiating table this as part of a broader agreement if the us agreed to work together towards zero tears for all industrial goods. the new proposals come as brussels faces considerable pressure u.s. president trump has threatened to drastically raise tariffs on imports of european vehicles the e.u. commission has even pulled back on one demand that discussions over a new deal only take place once the u.s. government removes its tariffs on steel and aluminum. and our financial correspondent who is interested out i was following this story for us from new york has a first off i suppose after the market rollercoaster over trade which is characterized the past few months how trade is reacting now to the news where you are. now it's not only provided by trade from coming from europe but also from china made traders quite happy especially since global stock markets closed its best week

you know five months when it comes to brussels the opening bid for trade negotiations goes beyond what was expected initially in july u.s. automakers like general motors or ford were after europe put together a plan that aims it was on industrial goods including cars but also cost and red tape on areas including testing inspection and certification i move that immediately please the investors who also cheered the chinese proposal to close the trade gov with the u.s. by two thousand and twenty four but not all of these proposals are set in the stone so there is a still room for improvement or disappointment or so the billion something dollar question then will it be enough to the us and when i say the us i specifically mean the person who said trade was all good. and i wonder who would be held in the caves over negotiations between brussels and washington to fact that

agriculture is of the table could pose some trouble even if there are some exceptions as we see with the u.s. so even sexperts through europe safety and of food quality of standards seem to be a key area of friction that's why there is a still the possibility that the white house may again use to force europe's a hand there's these there would be an impact of more than forty billion dollars european car experts to the u.s. but also guarantee immediate retaliation from brussels and this scenario we hope does not become to helena our financial correspondent. i thank you jose and happy with tentacles. well electric car maker test says it's set to slash its full time workforce by seven percent and at the same time ramp up production of its model three sedan in a letter c e o you know musk told employees at tesla had increased hiring in twenty eighteen to meet those production goals the company's under pressure to trim costs

and retain profitability tesla also announced on friday that it will recall more than fourteen thousand of its model s. downs in china she just faulty airbags from the now defunct japanese producer to carter. well the german government says it may block or ways involvement in its future high speed five g. network citing national security concerns in response the federation of industry says until evidence is found no vendors should be excluded from the network the united states and other countries are keeping the chinese away from day five g. networks because of data security they say that the companies link to the government in beijing increases the likelihood of cyber espionage the u.s. is carrying out a criminal probe into the tech giant. the c.e.o. of huawei wrenching fe refuted claims of chinese government involvement take a listen to. our company has never received no well received orders from

the government. we will refuse any order from the government with. the c.e.o. there off while way japanese carmakers nyssa and mitsubishi say for missy o'connor schoolin improperly received close to nine million dollars from a jointly owned entity the company say they only recently discovered the payment gone who remains c.e.o. if they know is given credit for helping nissen make a turnaround after creating a strategic partnership between the japanese carmaker and if they know the payments are not part of the current criminal charges before minnesota c.e.o. faces in japan where he has been detained since november japanese authorities have charged him with financial misconduct. air pollution in large cities is on the rise and that's a driving factor is seeing more and more urban centers shift to electric forms of transport including a chili's capital santiago it wants to improve its air quality and there are now

one hundred such buses on the road the aim is to banish these all buses entirely. santiago de chile is chock a block with buses most of which run on diesel the toxic fumes they emit damage the environment and put people's health at risk but things are changing in the form of these buses they run on electricity making them quiet and emission free but the download lot more their talk meaner than other buses and that's great for our air quality here. santiago's air pollution levels sky high every day around two point four million vehicles battle their way through the capital. the new e.p. says can travel around two hundred fifty kilometers per charge up. and to make sure they never run out of power the city has implemented a detailed charging shojo. daughter we're going in each area you can charge

seven buses and at the same time. one bus is finished charging automatically starts up in the next waiting bus. right now santiago has around one hundred electric buses in february and the other one hundred are set to join them over the coming decades the city aims to completely replace its fleet of six and a half thousand diesel buses in immigrant that the whole lot of what we have a long term strategy of electro mobility which aims to make all public transport buses electric light twenty fifty when the scene imbedded will emerge even the changes we've implemented so far and all the government support we could well reach that goal at least a decade earlier. the same. with such dedication santiago could soon lead the way inspiring other urban centers to put toxic air firmly in

the past. mark turning to sri lanka now and land reclamation for the new port city has been completed there the cash for the ambitious project came from china it's an awful lot in fact the largest single foreign direct investment in sri lankan history at an estimated one point four billion dollars it's part of beijing's belton road initiative a modern day silk road linking asia europe and the middle east but not everyone in sri lanka is convinced about the project. the port city has been doubt sri lanka's new dubai the official name is the colombo international financial city especially comic zone with its own business friendly tax regime and regulations. an estimated one hundred million cubic meters of sand when needed before building construction could even start thousands of tons of sand when moved from sri lanka's coastline for the new port city it's being loaded

by the country's leaders as a great achievement. of the peace or equality game model and we don't know one of the more i think people if you look one project this country will never see. and it comes at a hefty price for sri lanka local fishermen say it's destroying marine life and their livelihoods. they environmental damage is changing the region's ecosystem some environmentalists say the excavated stand alone is worth more than double the project's anti a budget of one point four billion dollars so while many are celebrating a milestone some sri lankans are concerned the project's potential economic and ecological damage is just beginning. that's a europe today with the latest from the world of business for more of course head to our web site d w dot com slash business you can find us on facebook follow us on twitter at d w underscore business on there as well at head of the see how free is

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sure. what's coming up for the local industry you have plenty to talk about you want the job you. want to sleep every weekend here. where you sit. with your family gathered. with the institute of music to move because we're turning back to the roots of government money. show. large family from somalia where the runaway. don't want to go to urgent assistance their. global family starts january twenty third on d.w.

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