china's mining industry has a poor safety record but in this case questions are also being asked about why the incident was not reported until one day after it took place authorities have launched an investigation but the 1st priority is to try to save the lives of the miners. stick around our business news is up next with stephen variously and i'll see you again at the top of the hour with the world news headlines. i'm secure that volume or that's hard and in the end this for me you are not allowed to stay here and more we will send you back. are you familiar with this. with the smugglers were alliances of the what's your story ready. i mean when i was a women especially in

a victims of violence. take part and send us your story your train or with understand this new culture. you are not a visitor nothing yet you want to become a citizen. in 4 migrants your platform for reliable information. the stage is set for a change of power in america seen from washington where they're counting down the hours until joe biden this warning is president what will the new administration bring for business and for trade relations we'll hear from one of germany's best known c.e.o.'s coming up. walking to the show i'm seriously in berlin it's good to have you with us well here in europe hopes are high the u.s. president joe biden will scrap the red. tariffs donald trump imposed on goods made

in the e.u. and joe biden has so far been quiet on the topic or porridge and looks at what comes next for the u.s. after america 1st. as early as his 1st election campaign in 2016 donald trump has called the e.u. unfair citing the trade deficit at the start of his presidency the amount of goods the e.u. sold to the us was worth about $147000000000.00 more than the goods the us sold to the e.u. to punish the e.u. for perceived trade abuses washington slapped the block with steel and aluminum tariffs in 2018 and here's a related occupation that the high share of exports destroys american jobs trump singled out german carmakers in particular that's even though german automakers have long since stopped exporting their cars from europe and instead produce them locally employing thousands of american workers despite repeated threats car tariffs never did materialize but the tariffs did didn't accomplish much.

i think there will be a lot more. you know mending relationships with previous allies such as figure in union but also multilateral approaches for common problems at the w t o level the world trade organization so overall a much more consistent a more predictable presidency in terms of trade and engagement ok so at the very least the tone is going to change under biden which is a start but it's also important to realize that transatlantic trade tensions did not start with donald trump in fact the e.u. and the u.s. have the longest running trade dispute in the world the boeing air bus aviation subsidies dispute has been going on for 16 years the european union and the united states claim that each other's airplane manufacturer isn't. fairly subsidized by

the government therefore skewing competition in fact the 1st big move in trade policy after biden's election when it was announced was a further escalation of this conflict on november 9th the e.u. moved to start imposing tariffs on u.s. imports worth $4000000000.00. the target list includes airplane spirit frozen fish tractors and produce from onions to cherry so for now it looks like america 1st will be followed by america 1st for now but it's all eyes have come knocking already anyway hoping at the very least for america and friends sooner rather than later all right the report by our reporter john l. do allow now when joe biden is sworn in as the 46th u.s. president on wednesday he'll inherit multiple crises an economy battered by covert 19 and a climate emergency among them but what will president biden mean for global business well that's a question our next guest has also been wrestling with and showcase there is the

c.e.o. of siemens a german industrial active around the globe he said to leave the top post next month after 7 years at the helm career has taken him all over the world including to california where he worked for several years and despite the global downturn due to the pandemic he's optimistic that by and spending plan to kick start a u.s. recovery speaking at a digital form earlier this month he said in the u.s. they're holding all the cards and if they put that money to work in a wise way there's going to be a very very strong 2nd half of 2021 and especially 2022. all right and to speak more about this is the man himself joe kayser c.e.o. of siemens joins me in studio is a case is great to have you actually here in studio even while you're still c.e.o. i should add. we want to start with this quote we just saw what is it that makes you so optimistic about the u.s. recovery that $1.00 trillion dollar package that's being proposed i'm guessing that

is at the heart of it well it depends on what you spend the money for right where you spend the money for stuff for the past or for the future and if you look at the united states today 1st of all they're the biggest economy in the world secondly the key technologies field which will basically determine the future it's about microelectronics think about all the chips and semiconductors is about softer machine learning artificial intelligence they've got a 350000000 people so it's scalable enough. in their own economies so they're holding all the call to do something else to america and its people and this is about you know if you're down on your knees you stand up and try again and that's an attitude i believe which can if it can be remembered you know you're holding all the courts at the same time many elements of this package would speak more to helping those people once they're down on the knees such as

a minimum wage provision or expanded parental leave how would you as an employer in the u.s. look at those issues is that the right way to spend money i think it if the package is well balanced in terms of opening up of communities for growth and employment i really feel well as a wise tool so you look at the employees and the society who's at the end of the day through look at all the stakeholders shareholders the employees the customers there is a 4th line and that's in the society and you know company to license to operate for that's why i believe you ought to go along. the package folke rove and prosperity and then integrating the societal divides which we over to see all over the world now another thing that we could see arrive with by the ministration it could be slim and difficult to get through congress but is a rise in corporate taxes among other taxes you are an advocate for the tax cuts

that happened under the trump years. how would you see a tax rise now. in the 1st of all when president trump was going out to lower taxes i think everybody thought you know if that is aimed at creating jobs because you know manufacturing would come back to see all those better conditions it's a good thing you know if you lower taxes and give more employment and create more jobs you get the money back lower tax rate but more taxes because obviously there's more permanent unfortunately as it turned out that most of the companies have been using the money they've been saving for shop x. they've been buying back their own stocks and if you do that there's the other tax you know there is the wrong constituency which is making let's say the richer ones even richer and creating jobs for employment manufacturing which i believe it's relevant to an integrated society so ideality tax rise would be justified in your

eyes i believe if if if the money you know. complicated you know is being used for training for preparing the workforce for the next generation of work i think can be money well spent always depends on what you use the money for this goes both ways you know if you lower taxes you use that money for stimulating the economy creating jobs it's a good thing if you're raise taxes take the money and help people come along by training education and help the poor you know to survive. you know him in human dignity it's a good thing if it always depends a lot of whole package looks like it's just an isolated thing texas hides that it takes a close good i don't think it's the right way to look at it through a complicated then you know trying to do to build that into the 50 characters of a small visage well then let's take

a broader look at the trump air we mentioned those tax cuts that was something that benefited business also slashing of regulations during the era benefited many businesses. at the end of the trump era we've seen an incredibly divided us society which of course poses problems problems structurally for the business world as well as for normal society what is your assessment of the last 4 years the business get what it wanted well i mean. the world does not really only consist of business it consists of people you know prisons these are made of people and not just some artificial and the prizes i believe that president started out well in the beginning he said they're going to tear down the red tape the bureaucracy which is always complicated in terms of speed. he was you know saying i'm going to cut down taxes so that the treatment jobs that companies will you know bring back the manufacturing from other places his spirit that i like the

most he was bringing business people into his cabinet rex tillerson for example whom i've known really been able to form a c.e.o. of exxon has seen the world who knows how things work and how to execute character and stephen each and. so that was actually a good thing unfortunately you know that those business people didn't last long and that was the 1st sign. you know what are actually the actions that they that helping the people of the united states and the people in america that maybe some individual preferences he might have had. i believe. certainly a big challenge for people who will be writing the memoirs about the president do you think that businesses should have done something earlier should they have reacted earlier should they have drawn

a line earlier. well you know easier to discuss that after the fact for tyneside to earlier i mean i've been congratulating him through the tax cuts opus leaper those is that the year of well it concerned about seeing the most powerful. off is you know at the face of the most powerful office in the world to be associated with france is. so. complicated 4 years. you know a lot of things happening but certainly the quantity as primo divided in india and and in the beginning the conversation we could continue for a while we've got to leave it there joe kayser c.e.o. siemens thank you very much for your time. all right now we take a look at some of the other business stories making news. sales of new cars across europe saw what's being called an unprecedented fall last year due to the corona virus and to make the industry association says the market for private cars

declined by nearly 24 percent. the good news for german manufacturers who received more orders in november 2020 than they did in february last year before the pandemic hit government statistics say the value was more than 3 percent higher he said the industry now even has a backlog of orders. the u.s. is planning to sanction one of the russian ships involved in laying the nord stream to gas pipeline from russia to germany it will be the 1st us government sanctions on the pipeline which washington says will make germany too reliant on russia. and before we go the e.u. flight safety regulator says it's approving boeing's 737 max jet to fly again next week and this comes nearly 2 years after the airliner was grounded on safety fears following 2 fatal crashes investigators found that those crashes were caused by

a faulty computer system brazil canada and the u.s. have all recertify the plane. and that's it from me and the business team here in berlin as always you can find out more about these and other business stories online at the dot com slash business to check us out on facebook and twitter as well as always thanks for joining us to focus on in next time. maybe i'm david and this is climate change. happiness in 3 books. the books are you. smarter for free. or you 2. 160. because i want to be a gemini with

a name the last few years have been quite. a marriage of the time but when it comes to. perhaps the biggest the new 900 on the average i'd love to be in the news that i report isn't there a pun but when you feel the giving. another way of living are you ready for me to have and then joining me right. this is did a good use a show coming up today the fear and mistrust threatening pakistan's coronavirus fight. historical distrust of vaccines could derail pakistan's covert 19 even as usual drive we look at what's being done to counter it plus. an historic win a depleted indian cricket team beat all street.