a deal for the u.s. to export more beef to the e.u. so does it help american farmers caught in the u.s. trade dispute with china and could it ease trump's animus toward brussels. also on the show an escalation in the trade row between japan and south korea we'll tell you why seoul is fuming. and what can a 2000000 euro real estate investment in cyprus to buy you other than some nice digs tell you. this is your business report i'm stephen bears in berlin thanks for joining us u.s. president donald trump has signed an agreement with the e.u. to increase american beef exports into the bloc it's a rare bit of positive trade news from a president who hopes to extract even wider concessions from europeans later this year and it comes one day after the president announced new tariffs on china a move expected to hit american consumers hard and prolong the trade dispute that

has been especially painful for american farmers. after german cars and french wine u.s. president donald trump's most recent beef with the european union was with well beef the u.s. had long found it hard to export its meat across the atlantic after long negotiations trump's announcement on friday sounded like a triumph to the farmers and ranchers listening in the white house. opening markets for our farmers is about more than just an industry it's about a way of life generations of hard work passion and dedication of gone into making america the largest producer of high quality beef anywhere in the world by far we're proud of our farmers and ranchers we love our farmers and ranchers and with this announcement we take one more step and giving them the level playing field that they have looking dave really been looking forward to this for many many years you folks know that they want

a level playing field that's all they want on the subject of level playing fields u.s. farmers and ranchers will also have to change their ways the agreements doesn't mean the e.u. is easing its ban on hormone fed beef at all for u.s. farmers higher exports to the e.u. will make up for market share lost in china that country slapped import tariffs on u.s. meat in retaliation for trump's tariffs on chinese products. and let's go now to our financial correspondent in new york jose luis de haro who is it will this deal in fact help the u.s. farmers most affected by the u.s. china trade war. notice the praises of stephen especially since he had to tone inches involved are relatively small on denmark's in one of the quote i will represent in beat over 2 percent of total us be the experts last year but indeed seemed to be the bright spot of american agriculture

and last year approaches a record of $8400000000.00 when we put that number into perspective they help given so far on 2 units to 8 farmers heard by tensions between washington and begin the usa government has rolled out 2 rounds of trade aid for farmers that's picked it to total around $28000000000.00 and the trade at war has hurt sales of wide range of cultural products including fresh fruit and grains and china is that the top market for many of the usa biggest crops and big gene those crops with as a rich relation to trump so far and of course was as we know soybeans also hit especially hard among those listed i want to ask you about something else trump said during today's press conference take a listen and we were we were greeted with a 25 percent rule mercedes-benz is b.m.w. who's coming into our nation so we appreciate that i'm only kidding. they they

started to get a little bit worried. so they a joke about car tariffs there that maybe wasn't too amusing for european ears. no doubt old stevenson's. predictability it's a more than proven and the threat of implement in charge of sober european carmakers is a still very alive defied that they believe agreement was signed that does not mean both the parts and will i hear a limited trade agreement to reduce or eliminate the industrial products that washington is pressuring currently the e.u. to include a agriculture a red line so far for brussels aside from the we are still waiting for the resolution from that world trade organization related to airbus and a common one on buoying and on top of the. threatening france that with. the

french government approving digital tax on big tech companies so the result long list of issues to be resolved and non of them sound like a joke at least to me and so maybe those warm relations between the u.s. and the e.u. at least that we see today not to last much longer or at home as they lose the heart of their force in new york thank you as always now to some of the other business stories making news in the u.s. employers added 164000 jobs in july according to the labor department the figure continues a record hiring streak however the average workweek fell to its lowest level in nearly 2 years as manufacturers reduced hours for workers a sign that economic growth is slowing. the european union has nominated crystal to lead the international monetary fund ending weeks of impossible in the 20 countries. is from bulgaria and is the current chief executive of the world bank

i.m.f. member countries can make nominations until september 6th traditionally the i.m.f. is led by european contrasts the u.s. gets to appoint the president of the world bank. amazon boss jeff bezos has sold $1800000000.00 worth of his shares and that company sale took place over 3 transactions at the end of july media reports say baselessly use the money to fund his space venture the origin over to asia now where south korea is the 1st country to be dropped from japan's white list of favored trading nations a move that could slow exports of a wide range of goods and with seoul threatening to respond relations in the region could get even more difficult both export driven economy face lighting demand from china and both are key u.s. allies in keeping regional peace. no sooner had the news of fresh japanese trade

restrictions reached south korea the protests kicked off again just like here outside the japanese embassy in seoul. that we are here to express our deep anger against japan 2nd economic retaliation we've been boycotting japanese products since japan's export curbs were introduced last month. south korean president moon j in described japan as a selfish nuisance and warned of consequences. my own equivocally warned that the japanese government will be held entirely accountable for what will unfold going forward japan attempts to harm our economy the korean government also has countermeasures with which to respond. to the. earlier in tokyo the japanese government announced that it would cancel south korea from its white list of preferred economic partners this could complicate the imports of defense equipment and materials used in the chip industry. deal. this move was

approved to revise japan's export controls appropriately and was not intended to hurt japan south korea relations or to craft countermeasures. south koreans no longer consider japan a friendly nation one official warned seoul says japan is retaliating against south korean court rulings last year. these ordered japanese companies to compensate korean plaintiffs for their wartime labor during japan's brutal colonise ation of the korean peninsula between 101-1905. japan points to an erosion of trust since the south korea rulings and claims the export controls are for national security purposes. one thing that all citizens have in common is a past or much like this one it's getting easier for wealthy foreign investors mainly but not only russians to buy themselves a new citizenship in the form of a so-called golden passport and a place to do that is cyprus. cyprus is booming again

and it's 2013 financial crisis seems all but forgotten. the island's real estate market is thriving with the rows of expensive new high rises in the port town of limits so. many russians are buying them today they make up about a quarter of a limb of souls total population. but why is that. where all because investing at least 2000000 euros in cypriot real estate will get you cypriot citizenship. business consultant irina churchill town there's one of those who makes it happen for her wealthy clients it's really simple. quiet the boss or don't have to feel. that cyprus this year's golden passports to wealthy russians and arabs has been severely criticized by the e.u. but the island's finance minister who oversees this investment scheme says so far only 500 people have actually acquired

a cypriot passport and these ones may be. 4th off the. details in depth scrutiny and the background checks while the influx of rich russians has changed a life none want to speak to us on camera about their new cypriot passports though the arena churchill turn says most interested in making a profit he calls his or terminal 5 percent of you. so. a very sweet deal that cypriot investment bankers are keen to promote after all where else can you acquire an e.u. passport in just 3 months. so a good idea there for those $2000000.00 euros just lying around and that's it for me. you can find out more about these and other stories online.

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