shifting powers the topic in focus at the global media forum 2019 the laboratory with the digital age. we finally do we trust debate and shape the future as the global media for 25 the place me for my. teaching retaliates in its trade dispute with us and markets tumble on fears that things are spiraling out of control there's still time for a deal between the 2 nations we'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 poor quality drugs are threatening hundreds of thousands of patients on the african continent we'll tell you what's going on.

below it welcome to business i'm stephen bears in berlin good to have you with us u.s. china trade row has taken another turn with beijing announcing it will increase tariffs on 60000000000 dollars 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 the. china's response to washington's like just 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 us 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 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 any time soon and we have to specially companies to either produce in china or import from china or export to china. among the biggest losers of boeing apple caterpillar 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 nasdaq composite 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 an uptick in this trade dispute a very bad day on wall street what does this mean for the u.s. economy and. altogether of course it's been running on full steam

you know if we look at the status quo so what happened so far all the terrorists 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 you as president donald trump would impose tariffs on more imports in the amount of goods $320000000000.00 that could actually shave off about 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 as going to add further or a quarter of there for us in new york thank you yes.

now the u.s. is also continuing trade talks with the european union where economic signs are pointing back up after a brief slowdown there 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 are more broadly will see a steady recovery in 20192020 with a growth of reaching. potential around $1.00 by next year they're 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're going to get back to the securities you heidi had in 2017 or where we had gross of about 2 and a half percent of g.d.p. we're 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 recover 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 where 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 sports but particularly if there's an escalation. tufted for task relation that could that could have a more more more profound or negative impact and on bracks it would be of course concerned about is. that we need to go to w t o rules and we of

course concerned about most of them happening at the same time that will spell trouble she said alba for the e.u. that 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 trait on which combines brands and 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 . 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 or who is behind the suspected attacks the only certainty is that the incidents have field tensions in the region. or a pole 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 week. and that's it from me and the business human berlin you can find more of these stories on dot com business. thanks for watching.

some time in the 26. my great granddaughter. time in around. you were to be around 2 degrees moment. evidently sea levels rise by at least one. referring to climate impacts matric greater than you see on t.v.

. it's really frightening. why aren't people more concerned. to 1st d.w. . concentrated cold up our. solar. and then you'll see just like in a coal fired power plant to generate electricity. the energy efficiency can be improved also for the. p.t.o. . function of higher temperatures because. people are much bigger to get. taller power and feel

more expensive about fossil fuels what with technology. the price will be brought down. welcome to news from the world. and in a minute we'll have a preview of the world's biggest live music event the euro vision song called test also coming up. stars of the opera will join forces in germany for a dollar to raise money for a star it seems. ill fated love story that begins in a library that's the subject of agnes by peter. and it's one of the w's $100.00 german

must read. but fuss contestants have been arriving in tel aviv in israel for this year's your vision song called test and although the final is on saturday rehearsals have started and the knockout stages begin on tuesday 41 countries have entered now the 26 get to the finals and here is net positive by last year's winner of driving greats she knows how to put on a show. and i'm joined by my colleague adrian cannon and the agent is all it is for most have arrived and their households have gotten we can have a sneak preview i think we're going to have a look at the french contribution 1st i thought is one of the favorites the shia his song.