st see. the first big show of the year is about to kick off in geneva. for the show announces tax cuts at the national people's congress in a bid to bolster the country's cooling economy. this is business. in. washington and the preferential trade status of india and turkey as president ramps up his battle against what he views as unfair foreign trade practices the so-called generalized system of preferences program of favorable treatment of imports from both countries for a range of goods such as automotive parts tires and appliance trade representative . office said that india had failed to show washington that it would allow require market access and instead erected trade barriers is more. when a range remotely last visited donald trump the pair boasted of their truth

friendship now those bonds could be tested as trump turned his anger over trade towards the south asian powerhouse. the us president has said he will end preferential treatment for imports from india the arrangement allows for duty free entry for up to six billion dollars worth of indian goods initially designed to give poor countries a leg up the u.s. says india hasn't lived up to date of the bargain namely offering us access to it booming economy and retard. india's comments chief played down the impact to put things in. perspective that. we've been if it's worth. one hundred ninety million dollars. or five point six billion dollars with the benefits in an absolute sense. the percentage of the real in war. very very minimal and modern

turkey too is a nest trade fight trump says the old tire of privileges have outlived their use the istanbul skyline a testament to its rapid economic growth progress may come at a price of crum carries through on his plan. from there from our end. how big of a hit well that before india's economy will get out you heard the commerce secretary he said that it's going to have a minimal impact as far as digit numbers are concerned begging the numbers at around one ninety billion dollars but what he missed out was the fact that the kind of like billion dollars worth of goods in goods that a five point six billion dollars worth of goods are going to lose that competitive edge in the u.s. basically goods from countries like mexico with which the u.s. united states has a featured agreement so that's a point that they've missed and that's considerable so i spoke to the head of the

exporters body in india and mr jessup so high he told me that good textile goods a few engineering goods and moving goods are likely to be affected because of this move but he interestingly he did mention the fact that it's also the u.s. the american downstream companies which actually import a lot of semi finished goods from india who are going to suffer because of this and they're buying goods on the cheap from india and now the prices are going to go up he didn't mention that it's going to be a marginal impact with one to three percent that it's been now put on all these goods but definitely is going to have suddenly a considerable impact when you see the kind of competitive competition in indian from going to use in the u.s. will that hurt narendra modi in the upcoming election. well the opposition is not going to leave any opportunity to embarrass prime minister modi now his he's all he's almost he's always boasted about his personal equation with world leaders

including president donald trump and how he too underlined the foreign policy gains made by india not the then the now the opposition is definitely going to ask him questions as to how a policy which has been which had been in place since the seventy's has been removed of a drawn under his watch now that's going to have an impact but how much of an impact is it going to have on the voters how much is it good to sway them is your guess is as good as mine very briefly planes with the recent decision regarding amazon and wal-mart by india play a role. i mean there is not certainty about that but that was definitely and it didn't in recent past the fact that the indian government came out with the rules that actually was limited to limiting the business of companies like amazon and the and walmart on flipkart the rule says that these companies cannot set good on line

through the affiliated companies not a huge chunk of the goods this would actually was from the affiliated companies so it was a huge setback for these companies and but they have been it isn't of indecent boss and donald trump has been actually calling out india for its height that of india forced to companies like visa and my mastercard to actually store data that of transactions which are made in india locally in india the fact that india and india has restricted dairy imports from the u.s. citing religious reasons so all these had been it isn't as far as the u.s. indian trade relations of late have been concerned. thank you very much. all eyes on beijing these days as the annual national people's congress gets underway where the government unveils huge tax cuts amid a slowing growth shanghai close nearly a percent up and hong kong stocks headed into the break tuesday barely moved as investors held their breath for signs that might point to

a breakthrough in china u.s. trade talks but the focus of the opening session was china's economy beijing cut growth forecast to six point six percent this year a thirteen year low and announced concert worth several hundred billion dollars premier league told delegates the country faced a quote tough struggle. to europe now. big motor show gets underway tomorrow it's an industry he said by the problems that is gathering there in geneva switzerland today legacy carmakers struggle to make progress on electric and solve driving cars shows by newcomers like tesla or google while echoes of the diesel gates still reverberate through the holes china policy trade policies china slowdown and brags it to the makes and you can see it's not really what i'd call a party atmosphere there in geneva. if you need them most your show is an opportunity for carmakers to toot their own horn industry mama fly quality stock

and have been known to rise to the occasion last year v.w. c.e.o. him back to use used his appearance to herald in a new era of electric mobility but this time the political landscape in particular the continuing uncertainty over britain's departure from the e.u. is pushing a damper on proceedings. we were told that it would only be for several months and afterwards we would find agreements and riccardo. but it's very hard to predict i would say. brics it wouldn't suit the company but it would be. another major source of concern for many here. as the prospect that the united states could impose tariffs on european car imports such a move would cost v.w. dimer and b.m.w. together a total of six billion euros a year. we are clearly in favor of free trade so our business model and all the

investment we have shown in the united states is based on free trade and i believe this is shown everywhere in the world that free trade creates wealth this year no amount of glitz can disguise carmakers concerns over their industry's future whether it's the prospect of a disorderly praxis or of punishing tyrants now more than ever the stakes are high . is standing by in geneva for us to know the motor show is already open for the press today what's the mood really like. no the mood here is pretty layered on the one hand carmakers have to stand out from one another by showcasing their brightest and us on the other hand that they have to speak with a reasonably unified voice as to how vulnerable they all are in the face of threats to preach trade like bragg's it or us import tariffs at the end of the day though even though reality and the real world catches up with this is still

a glamour showcase it's still one of the few public auto shows left in the world where wealthy buyers actually come to look out the cars and then buy them it makes a difference in the atmosphere when you hear that a nineteen million dollar car was displayed here that someone actually bought it so the prevailing attitude seems to be that the car makers are saying look we spent years developing these cars all before free they're worth these threats to free trade we want to be able to show them nothing that we have here can immunize us anyway from the shifting political landscape and as such it's very hard for them to deviate from that attitude that this car show should be about the cars if you look at asian. geneva do they have the same concerns as the europeans or the americans or all the. different topics on their minds. well in particular nissan made headlines today because of that news about carlos ghosn potentially going getting out on bail now this news actually came out

a particularly awkward time before a frenzy fronts partner renault that was happening as they were unveiling their nuclear their new super their new maybe super car that was supposed to be a pivotal moment for them here at the car show now neither nissan nor renault wanted to comment on this news about carla's going but particularly renault has been pretty consistent in saying that this is an alliance that they want to keep that they've been working hard on restoring trust of this partnership especially nissan's trust in this partnership and most analysts and most analysts i talked to are pretty much in agreement that they believe this alliance that it doesn't help any of the three car makers to become smaller at a time when the challenges for the auto industry are getting bigger. now. at the show for us thank you. and now to some of the other stories making news around the world britain's central bank is warning that europe's financial system is facing

risks to stability after a no deal brags that the bank of england extended its weekly lending facilities to include euro the euros it also said households and businesses across the european union not just britain vulnerable britain is set to leave the euro in twenty four days. b.m.w. is planning to shift some of its engine production from the u.k. to austria in the event of such a no deal breaks it that's important to people shots involve the head of b.m.w. as many brand final decision from becoming a factor is expected in the coming weeks as the u.k. will officially be you on the twenty ninth. that's it from me in the business a team that much more business news on background stories on the website to do. so called business.

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global news that matters. made for mines. this is it every news live from berlin china warns of a tough struggle as its economy slows down at the opening of the country's legislative assembly in beijing the prime minister says china is facing many challenges including a profound change in its external environment will look at what that means it's also coming up france's president might or might call makes an impassioned plea to

voters ahead of crucial elections in may he says that to defeat nationalism europe needs to make big changes.