the reality couldn't be any different chinese state media describes the trade talks as constructive today's meeting in shanghai only lasted a few hours then the americans said goodbye all they could basically agree upon was their next date in september in the us. a few pleasant smiles and exchange of niceties then u.s. trade representative robert light ties are in treasury secretary stephen menuhin got down to business with chinese vice premier her. there was little expectation of an agreement being reached before hand and the likelihood of that probably wasn't helped by the coinciding harsh criticism of china's economic policies by president trump one of his complaints that china makes promises but fails to follow through and beijing wasted no time in responding and what our new teams will mean i think it's meaningless for the u.s. to pursue these maximum pressure tactics when someone is ill it's useless to ask

someone else to take the medicine believe the us should show more sincerity in good faith when it comes to trade negotiations. the 2 sides positions appear to be hardening the white house has already impose tariffs on half of chinese imports and has threatened to go further china has hit back with its own tariffs the result levies on 300 $60000000000.00 into a trade hitting the economies of both parties. anyone who had hoped that the 2 sides who come together on wednesday was left disappointed when the doors were open data for hours a quick photo opportunity was all that was left to do the american delegation departed for the airport with nothing more to say. business consultant andrew day has been following the talks for us and the both sides are talking again we've got that and they're going to be talking again the month after next but really this

whole dispute is deadlocked it is it is deadlocked you know i think it with the benefit of hindsight we can see this was never going to be easy you know we almost you know the the 2 parties were sort of circular circling around a deal in may there was 150 page draft you know a lot of the american demands were met in this draft in the chinese walked away and now we're sort of back to square one and it just turns out when you have the 2 largest economies in the world one's a capitalist and one is a state run economy you're not going to have a large dramatic transformative deal cut in the span of 6 months does that mean we are facing a pretrial to trade wars many analysts have been saying just today and yesterday i think so i think. you know the americans have said look you know china entered into the world trade organization in 2000 and you know with that membership it is supposed to play by a certain set of rules it's proven that it hasn't in the whole world sort of a you know europe and united states on the same page here we all know that china

doesn't play by the same rules as the rest of the w.e.o. and now you know the united states has decided to play hardball in a new type of way you know before it was you know the obama strategy was to sort of encircled china through. with europe through free trade agreement with asia and sort of squeeze china and now trump is using a different strategy which is basically to you know you know just attack them directly and and that could mean that these tariffs that are in place will be that state how will that affect the global economy. you know it's going to it's going to be interesting i think until now a lot of companies have been asking that same question is is this temporary or is this a new normal really and a lot of them have been waiting to see should we restructure our supply chain. we move production out of china should we resource certain jobs the united states european companies like puma for example which announced its earnings today said that you know it expects the it's starting to stockpile goods in anticipation for

a protracted trade war so i think companies are now starting to realize this could really be a new normal what about american companies what's the talk among supporters of these types i mean is that support also politically also fama as well there is interesting interestingly senate minority leader charles schumer who's a democrat and hardly a political ally of president trump is really in lockstep with with the trumpet mr asian on this you know tariffs traditionally have been tools that the democrats have been very comfortable with and frankly the republican party has always been the party of free trade for the last generation and trump has really turned that on its ear so politically trump has quite a bit of support in terms of using tariffs as a means of leverage now interesting interesting that you bring up farmers though because farmers are really the sort of the victims in this trade are the ones who are hurting they're the ones who are hurting and ironically they're also among

trump's biggest political allies so what we could see happen is some sort of maybe interim deal or a mini deal to just get china buying agricultural products again in exchange for perhaps some loosening of these you know hallway export ban so there could be some sort of interim steps along the way but i really don't see a broad loosening of tariffs any time soon andrea to thank you very much for coming in thank you. allies are on the u.s. federal reserve today it's expected to lower interest rates by a quarter point to be the 1st rate cut since 2008 has been speculation about the probability of a conflict weak spurred on by federal reserve chairman jerome powers testimony before lawmakers image a line in which he hinted that a cut could be on the white sheet president donald trump has been critical of the fed for raising rates. is what he told reporters at the white house yesterday.

far far. from lot of work. that's going to. go to your i would like. you are. like me to. want to. watch. i think was a big thank. you so much for the independence of the fed let's get the market reaction from our correspondents in frankfurt and singapore ashutosh starting with you is a cop actually warranted the u.s. economy is going gangbusters. well exactly and that's why it's the most debated but have some was debated topic in the past few weeks. because there are those who favor the point towards sluggish inflation in the u.s.

despite good job numbers and also the need for an insurance policy what if it can on explode on globally worsens and that's where the needed insurance policy goes against it they argue that well it's not all that bad the u.s. economy is indeed going gangbusters growing at 2 point one percent consumer spending which constitutes 70 percent of the g.d.p. that's actually solid so clearly this argument continues even to the date exactly it's the global economy people are more worried about right now indra how's asia preparing for this so ben in the days and even weeks leading up to this announcement by the fed asian central banks have already begun taking their own actions in indonesia in thailand indonesia and the philippines they will be easing some of those tightening the measures that the introduced last year in thailand and south korea and this say that they will expect one rate cut each

through the through $320.00 days. from singapore the expected to keep things status quo and keep supporting that weakening economies the bank of japan has kept things city and even trimmed inflation and we will expect to see china and south in taiwan do the same as well keeping things status quo so all in all it does seem like it's going to have these a less aggressive easing and more of a soft landing instead it just briefly i found it interesting to hear trump and his his bullying of power basically there in that sound bite actually just he's also bullying druggy. exactly yes in fact he lashed out at mario d. as he referred to him in a tweet here for actually suggesting that he was open to moderate cuts if the economy wasn't and if the need is there so he says that he is in a way devaluing the euro which in no way is propping up the trade surplus worse is

the u.s. the eurozone trade surplus i mean thanks for the analysis from ashutosh pandey in frankfurt and in singapore. now to some of the other business stories making news this hour hong kong's antigovernment protesters are hurting the economy growth six-pack the 2 have picked up slightly in the last quarter but the outlook is grim demonstrations of hidden tourism trade and hong kong's reputation as a financial hub. samsung has posted a drop in net profits of more than 50 percent for the 2nd quarter to almost 4 and a half $1000000000.00. john ford has slumped down to global factors such as that trade war and officials have charged desperate times call for desperate measures and a costly one in this case the parched city of chennai in india is so desperate for water that officials are holding it in by train. what should go

the train carrying truly precious cargo 50 wagons full of water starting a daily 216 kilometer journey to the dr hitz indian city of chennai. the water comes from the mets were dam on the cover a river one of india's largest water reservoirs here a jar path it is piped onto the train the cargo is expected to ensure a minimum supply to a city of 10000000 until the monsoon rains come. up but no this is not a permanent solution but it's a timely way to help and that's all. this is not a permanent solution. the emergency water supply will cost nearly $100000000.00 that's the price of drugs in an ever expanding population. and once in chennai the water is deep counted into tankers. and you put it with people get excited once they see your lorries earlier we used to go home by 8 now it takes till 12 am to go

home and sleep there's no time to even eat meat. the drivers have been putting in extra shifts for weeks chennai is home to more than 4000000 people. thousands stand in line for a few connoisseurs of water for hours so this water is just a drop in the ocean. and this could be only the beginning more indian cities could suffer water shortages if drug continues in the future. i'll have to leave it there nice doing business with you i'll see you again very soon they'll.

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the bad play. play. this is the deadly news live from berlin germany take has its laws on migration and asylum in an effort to speed up deportations of asylum seekers who haven't been granted the right to stay all those with pending applications now fear that time might be running out for them and that they will soon be forced to leave the country also coming up the scientific breakthrough or the stuff of nightmares while a job new scientist has been given the green light to start experiments creating human animal embryos.