could a to taunt be on the table in the trade spat between the e.u. and washington russell says it could cut u.s. call import tariffs is part of a trade pact we'll find out how traders on wall street are reacting. also on the program coming from all directions now while weighs under 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 new body china is building a brand new poll just off sri lanka's assures the country's leaders hailed it as a great achievement but it's not everyone's going to. this is your business update on how to humphrey a 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 would 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 in 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 syria tariffs for all

industrial goods the new proposals commas 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 encouraged to add 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 traders reacting now to the knees where you are. now it's not only provided by news on the 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 moved that easily pleased investors who also cheered the chinese proposal to close the trade got 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 dollars question then will it be enough to the u.s. and when i say the u.s. i specifically mean the person who said trade was all good. and i wonder who would be in the caves over negotiations between brussels and washington to fact that agriculture is. a good pose some trouble even if there are some exceptions as we see with the u.s. so even sexperts to europe safety and food quality ascenders seem to be

a key area of friction that's why there is a still the possibility that the white house may again used to force europe's a hand there's these are 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 too helena our financial correspondent who is entering data i thank you jose and happy retentive calls. well electric car maker tester 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 that tesla had increased hiring in twenty eighteen to meet those production goals the company is 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 de five g. networks because of data security they say that the company's 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 red fe refuted claims of chinese government involvement take a listen. to. our company has never received no well received orders from the government. knew we were refused any order from the government with.

the c.e.o. of qual way japanese carmakers nisson mitsubishi say former c.e.o. conor 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 make a turnaround after creating a strategic partnership between the japanese carmaker and they know the payments are not part of the current criminal charges the foreman is 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 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 and get on the lot more they're far cleaner than other buses and that's great for our air quality here at. santiago's air pollution levels sky high every day around two point four million vehicles battle their way through the capital. the new each buses 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 shed. graphic thought we were going to have in each area you can charge seven buses and at the same time. one bus has finished charging

automatically starts up in the next waiting bus but you know. right now santiago has around one hundred electric buses in february another 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 then immigrant that the whole lot of we have a long term strategy of electro mobility which aims to make all public transport buses electric light twenty fifty so when the scene embedded will emerge even the changes we've implemented so far and all the government support we could well reach that goal of at least a decade earlier. with such dedication santiago could soon lead the way inspiring other urban centers to put toxic air firmly in the past. are 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 is 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 so groden linking asia europe and the middle east but not everyone in sri lanka is convinced about the project. the port city has been dubbed sri lanka's knew by your fishel name as 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. to be set equality grandma and we don't know one of the malls sick people if you look one project is pumping live a c.

. 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 sand 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 he damage is just beginning. that's a europe today with the latest from the world of business for more of course head to our website w dot com slash business you can find us on facebook followers on twitter at the w underscore business on there as well as head of the see how free is my handle i'll see you very see the height.

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