travers across world markets i made u.s. china trade talks deep intention but for many chinese companies the affects of the trade war have been felt for months. also on the show iran the main source of income is now firmly in washington's crosshairs the middle sector we check out what's at stake. and how do you know that an australian fifty dollar note is not a forgery answer if it's got three spelling mistakes will tell you what to look for . this is the w. business i'm joined on in berlin welcome to the show donald trump is speaking loudly and carrying a big stick a threat to ramp up existing tariffs and add new ones to chinese imports ad midnight washington time hangs over us china trade relations but the trade conflict

has been going on for more than a year and chinese businesses have been struggling with it for some time now. fabrics or toys at the international wholesale market in you you'll find just about anything you need for your home. shows textiles the town of conflict with the u.s. is ruining your business. trade tensions between china and the united states have affected me a lot we don't have any more orders from the united states most of our clients are from the middle east but they're also under u.s. sanctions we're getting less and less orders. and she's not the only one who in eastern china is an important center for trade in household items they were exported across the globe when the trade dispute isn't raging that is the world's most famous mouse which used to be a big sales item has become a real shelf warmer here things aren't any better in chen you making ceramic shop.

i hope china and the united states can go back to the times fairly and reach an agreement that if the trade talks blow up it will be difficult for us to do business in the future it affects the whole world not just our un market or china made affects everywhere. it's a the says you know how you got the trade school he's closing up for the day maybe things will look better tomorrow but china's exports to the u.s. shrunk by thirteen percent in april much worse than expected now as we've been saying the prospect of escalating trade tensions a way to heavily on markets today so let's bring in our financial correspondent yan's quarter for more hello yes it's good to see you now trump hasn't ruled out achieving a deal this week has not provided any relief at all where you are. well italia little bit because at some point during the trading session blue chips lost almost

four hundred fifty points in value of there but then by the end of the day the loss was only about one hundred and forty points of us president donald trump was talking about a beautiful letter that he received from his chinese counterpart that she sold maybe there is still some hope but overall the stakes are high everything seems possible but that also means a high degree of uncertainty and uncertainty is barely good for the stock market and that's why over old so far we are experiencing the worst trading week of the year. curious as to what constitutes a beautiful letter but can you tell us ians whether there are any winners and losers in any of this well i mean overall if we look maybe on the bright side first the specially small and mid-cap stocks that do not depend so much on foreign trade are doing a bit better than the broader market and then companies who produce in china who

deal a lot with china who sell a lot of items to china like apple for instance boeing caterpillar those are some of the stocks that being hit is hardest still far but we also see some companies and stocks that do not have direct dealings with china will get under pressure because if the chinese economy should get heard was higher tariff said good old sore heard other exporters to china companies from europe for example who could be affected actually the effects could be acquired abroad so let's wait and see what happens. loser is all around from the looks of it yes quarter there on wall street for us thank you. after hitting iranian banking on oil the latest u.s. sanctions against the country are aimed at crippling the country's of metals industry metals were one of the country's last sources of foreign currency the trump administration announced the fresh sanctions after iran's threat to enrich

its uranium stockpile if world powers fail to negotiate new terms of the new twenty fifteen nuclear deal the sanctions come as part of trump's maximalist policy targeting iran after he pulled out of the nuclear deal a year ago. the steelyards of iran the lightest place where u.s. sanctions are being felt the new measures target tehran's revenues from steel and copper exports around two million iranians are employed in metal related industries that's about ten percent of the country's workforce. i mean everyone's worried about the sanctions we're just praying it all comes to a good end because everybody's being good depending on this situation. trump announced the metal sector sanctions after iran said it would restart your own human richmond if europe china and russia failed to deliver sanctions relief blames

the u.s. for leaving the twenty fifteen nuclear deal and re imposing sanctions but while the previous u.s. sanctions seem to target iran's leadership these latest measures strike ever closer to the country's eighty million people. even before the latest sanctions previous ones already impacted our daily lives and they've been effective if we say they had no effect we'd be deceiving ourselves. of the twenty five million tons of steel products iran produces over thirty percent are sent abroad as the new sanctions go into effect president rouhani will have a tough time convincing hardliners to stick to the nuclear deal. america has been warning its allies around the world against using chinese tax a firewall way and building a next generation of five g. mobile services the u.s.

says while ways hardware is likely to be open to spying or sabotage by the chinese security services but the signs are that washington is fighting a losing battle more and more allies are ignoring the u.s. and refusing to exclude while a. canada has been in hot water since it detained mung one joe chief financial officer of china's huawei on a us arrest warrant in december all washington's allies are caught in the middle of the us china trade war where once they followed us loyally now they are less happy to take america's side canada feel shortchanged by donald trump and wants more u.s. support to settle the mung affair with china britain keen to build relations with the us for a post breakfast world the struggling national security advisor mark sedwill met china's state councilor yang jet she in beijing the u.k. is likely to award a non core five g. contracts we apply our new zealand prime minister just in the arjun is making

upbeat pro china comments to boost trade and wellington may rollback a decision to stop huawei taking part in its five g. network germany has overruled its intelligence service and says it is happy for huawei to supply gear. increasingly frustrated secretary of state might pump a zero travel to london to repeat the us message that it considers weiwei an espionage threat. as a matter of chinese law the chinese government can rightfully demand access to data flowing through the way and c.d.'s systems. why would anyone grant such power to regime that is already question the better way to cyberspace its official security would be the united states sure sort of information would trust the networks this is exactly what china wants they want to defy the western alliance is through bits and bytes not bullets and bombs. huawei says we are not spies we simply make the

most advanced and the cheapest equipment america's partners say this is not about espionage this is about innovation a flying car and forty four car brands are on display at the international motor show in barcelona it opens to the public this weekend this year the show will focus on the future of driving flights of i feel it shows off its first take at the electrical at the electric vehicle market rather with the l. born with a range of up to four hundred twenty kilometers but for many the real highlight of the show is the new ferrari at eight tribute show a conventional seven hundred ten horsepower combustion engine which costs four hundred thousand euros. and to us spellings in australia its central bank has confirmed that its latest batch of fifty dollar notes has a typo on the one word is misspelled three times across the bank note millions of

notes have been printed but the bank says it will only correct the error in the next print run. it just goes to show sometimes you have to read the fine print australia's high tech poem or banknotes are extremely hard to counterfeit thanks to their highly detailed printing but evidently that technology doesn't include a spell checker the word responsibility is misspelled three times on the new us notes missing the last day but australians seem willing to overlook the error. well i guess with us instinct is that he uses cash anymore and sir quite a lot of people the note was printed forty six million times and that's one hundred thirty eight million missing eyes but yet you'd expect somebody to check and make sure that it's all correct before they suddenly pointed his gun out to that made by both and i signed but you expect it to be wrought australia's central bank says it will fix the error on the next series of notes later this year meaning that

sometimes you just have to take responsibility however you write it. god taught those and that's it for me on the business team and berlin for more business news and features you can always visit slash business thank you for watching.

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