up next a w business update with steve from the business in the you know be on going to speak to the united states on the china don't forget you can get over latest on all of our stores on the website we don't we don't come out of the day. where i come from we have to fight for a free press and was born and raised to me telling the painter she could just want to be shot now and if your newspapers when official information as attorneys i have walked off the streets of many can trust and they have problems are almost the same point to the social inequality a lack of the freedom of the press and corruption weak on the 4th to stay silent

when it comes to the fans of the humans on the scene or microphones who have decided to put their trust in us. my name is jenny paris and i weren't. beijing retaliates in a trade dispute with us the markets tumble on fears that things are spiraling out of control so is there still time for a deal between the 2 nations i'll give you the latest. also coming up attacks on 2 saudi tankers in the persian gulf was the real target the price of a barrel of oil. and counterfeit in 4 quality drugs are threatening hundreds of thousands of patients on the african continent we'll tell you what's going on.

globally welcomes a v.w. business some see the bears in berlin good to have you with us. the u.s. china trade row has taken another turn with beijing announcing it will increase tariffs on $60000000000.00 of u.s. goods from the 1st of june this comes just 3 days after washington more than double duties on a raft of chinese exports the economic saber rattling is hitting businesses and consumers on both sides of this beaut. china's response to washington's lightest tariffs was as swift as it was predictable beijing says it will impose additional tariffs of 20 to 25 percent on $60000000000.00 worth of u.s. imports. raising tariffs will not solve any problems but china will never surrender to external pressure we have the determination and the ability to safeguard our legitimate rights and interests. more than $5000.00 u.s. products including american airplane parts and liquefied natural gas are among

exports to be hit by the new tariffs from the beginning of next month washington sanctions announced on friday activated a new 25 percent duty on nearly $6000.00 categories of products from china. after announcing his new tariffs president donald trump took to twitter to assure his people that china would foot the bill for them saying we will be taking in tens of billions of dollars in tariffs from china but on us t.v. one of trump's chief economic advisors was forced to admit that u.s. citizens were going to be splitting the bill with chinese consumers despite beijing's bluster by setting the june 1 date rather than making the retaliate 3 measures immediate china at least appears to believe that the 2 economic powers can find a resolution. and for more on this let's go now to our financial correspondent new york ends quarter yes it's been quite a day on wall street what's the latest. well i mean investors seem to be

losing faith that trade deal can be reached anytime soon and we have to specially companies to either produce in china or import from china or export to china. among the biggest losers boeing will cater piller all losing more than 4 percent in the value of some of the big tech names actually are off more than 20 percent from their recent highs the dow jones industrial average losing more than $600.00 points about 2 and a half percent nastar comp was it down by even almost 3 and a half percent oil prices losing so all over the place we saw the color red so meaning that. shares and also commodity prices under quite some pressure so now taking this trade dispute a very bad day on wall street what does this mean for the u.s. economy in altogether of course has been running on full steam

you know if we look at the status quo so what happened so far all the tariffs in place all ready the u.s. economy could get hurt so that's what economists expect by about a quarter percentage point so that is not too bad yet we might also see was the terrorism plays higher costs we already heard that for u.s. households about $800.00 a year the real problem would start if the trade dispute escalates if u.s. president donald trump would impose tariffs on more imports in the amount of goods $320000000000.00 that could actually shave off about an additional one percent of gross here in the united states so the big hope right now is not that we reach a deal soon but that the trade dispute does not even escalate further or a quarter there for us in new york thank you yes.

the u.s. is also continuing trade talks with the european union where economic signs are pointing back up after a brief slowdown earlier asked paul thompson of the international monetary fund how trade tensions could hit european capitals and what makes him so sure that european economies such as germany's are in fact improving i do see think that we are. seeing. a turnaround i do think that we in germany and in the euro area more broadly will see a steady recovery in 20192020 with growth reaching. potential around $1.00 by next year still looking at the numbers. and. it's. what what was going on i think was was primarily. a temporary weakening in external demand

combined with some some disruptions including in the kind of story in in germany so i yes we have a recovery but i do not think we are going to get back to the security was the hide you had in 2017 or where we had gross of about 2 and a half percent of g.d.p. we are going to be well below that does that mean this was a temporary blip and it's not structural that's correct there was clearly a weakening in demand. external demand again. this week we had that the fact that there was a weakening is not is not surprising since since we have actually had growth in a number of countries above potential for a prolonged period so we did expect gross to come down but what we saw last year was more than the usual sort of mid cycle cooling it was much too stephen too fast

to be that but more recently we have seen demand starting to recovery in the united states in in asia and that suggests also that we are going to be renewed buoyancy in exports out of germany and out of the euro zone. you know there's a lot of global uncertainty of course both in the economic arena and politically so one of the biggest threats the e.u.'s economic path the 2 big ones the risk of an escalation of of. of trade tension and a hot breck's it on trade tensions what we are concerned about is not the direct impact of of of of tariffs on ports but particularly if there's an escalation. tufted for terrorists relation that could that could have a more more more profound or negative impact and on bret's it would be of course concerned about is. said we need to go to w t o rules and we of

course concerned about most of them happening at the same time that we spent trouble she said alba for the e.u. then is cautiously optimistic but with uncertainty i think that's exactly right yes . and that was paul thompson speaking to us from unit he's european director of the i.m.f. folks wagon says it will go into battery cell production with a partner firm in northern germany the auto giant supervisory board approved close to a 1000000000 euros for the venture on monday help with the funding could come from the public listing a b w truck division traits on which combines brands of man. and is scheduled to take place before summer b. w. could pocket about 6000000000 euros from the sale of up to one quarter of trade on . the united arab emirates has launched an investigation into attacks on oil tankers near its waters saudi arabia says the ships were significantly damaged and claims it was an attempt to undermine the global security of crude supplies.

officials from the u.a.e. said full tank cars were damaged in the attacks but it wasn't until monday that any independent information came to light. that there are 4 vessels that we already know of 2 a saudi one is under the flag of the united arab emirates and one norwegian but it's still not clear what actually happened bull who is behind the suspected attacks the only certainty is that the incidents have fuel tensions in the region. fujairah poll which is an important oil trading hub close to the strait of hormuz the narrow channel is one of the world's most strategically important trading routes. oil from kuwait qatar bahrain iraq the u.a.e. iran and much of saudi arabia passes along the route. with about a 5th of the oil traded worldwide flowing through this narrow strait.

boat stopping in fujairah port kerry different flags and know the geographic importance of this location that's why the incident that happened must have been caused by people following specific goals. thank god these goals have failed the investigations are underway to find out who these people are and to prevent something like this from happening in future. there are several conflicts and sources of tension in the region and following the sunday attacks the price of oil and global markets spiked 2 percent a times reflecting the inherent threat to supplies and gulf states stock exchanges also took a hit falling by 4 percent in monday trading. on to something a little lighter now and a special festival that really takes the cake it was held on sunday in hong kong to coincide with the birthday of the buddha as part of the festivities contestants

climb a 20 meter tower covered in sweet buns and the aim is to snatch as many of the traditional desserts as possible higher up the better the men's race was won by reigning champion quad coming getting his just desserts for the 3rd time at the real winners are hong kong's bakers who sell thousands of buns of the 1st week. and that's it from me and. you can find more of these stories on dot com plus business i'm stephen visibility thanks for watching.

still needs the. journey across 4 member states. critics and tickets of the speak out. what are people expecting. how is the e.u. do. and as the european election approaches. 60 minutes on g.w.

. for small consumer big changes. people making it possible for eco africa. fantastic right trying that as they set out to safety environment. to learn from one another. and work together for the future. i think in south. africa w. we're not here to judge you but to eliminate prejudices. we're not here to change your opinion. but to open some space for different points of view we're not here to speak on behalf of anybody but to let everybody speak for themselves. we're not here to give the right answers but to ask the right questions. we're not here to

indoctrinate but to listen. close 90 connect to an unbiased agenda subscribe now on you tube. this is state of the news after that coming up in the next 15 minutes fresh talks between process as an army rule is kicked off incidentally date this as thousands of demonstrators are still camped outside the military headquarters demanding a civilian government. and honoring the women lets out of sandy is his people talking to the founders of the park cars and museums that's recognizing the role sandy and put it plays in pre-colonial times.