good day to taunt me on the table in the train stopped when the e.u. and washington russell says it could cut us 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 networks. and they called it because new body china is building a brand new port city just off trail lanka's assures the country's leaders paint it as a great achievement but it's not everyone's going to. 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 us on 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 hugh. 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 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 anyways to add i was following this story for us from new york jose first off i suppose after the market roller coaster over trade which is characterize the past few months how traders reacting now to the news 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 move that easily pleased investors who also cheered the chinese proposal to close the trade 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 helena 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 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 use card targets to force europe's a hand there's these there would be an impact of for more than forty billion dollars european car experts to the u.s. but also guarantee immediate retaliation from brussels and a scenario we hope does not become too helena our financial correspondent has interests i thank you jose and happy with tentacles. 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'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 due to faulty bags 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 saying fay refuted claims of chinese government involvement take a listen. our company has never received no we received orders from

the government. knew we were refused any order from the government. the c.e.o. of qual way japanese carmakers nisson 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 it's 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. evolution 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. santiago's air pollution levels sky high and 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. daughter we're going to have in each area you can charge

seven buses and at the same time the. one that the 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. that we have a long term strategy of electro mobility which aims to make all public transport buses electric light twenty fifty when the scene embodied or even the changes we've implemented so far and all the government support we could well reach that goal at least a decade earlier. with such dedication sente ago 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 is an awful lot in fact the largest single foreign direct investment in sri lankan history at an estimated one point four billion dollars. the port city has been dubbed sri lanka's knew by your fictional name is the international financial city especially konami zone with its own business friendly tax regime and regulations. an estimated one hundred million cubic meters of sand we 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 lauded by the country's leaders as a great achievement. to decertify acknowledged again. and. one of them was picked. well if you look one project this could be illiteracy. 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 had to our website d w dot com slash business you can find us on facebook photos 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 soon behind.

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