until june first and there were hopes that deadline would be extended but for midnight tonight e.u. metal exports to the u.s. will most likely become uncompetitive under the new tariffs the block has drawn up a list of u.s. products like harley davidson motorbikes levi's jeans and bourbon whiskey which is set to face penalty tariffs here. so fisherman ski joins us now from wall street to give us the reaction as i mentioned this is already hurting u.s. companies what about if we take a look at the stocks what are some of the hardest hit there so if it. i mean one of the factor that have been repeatedly benefiting from all of these cameras from the announce announcements that have been made in the past is the field producer sectors so they are benefiting here right now you can see that in the stock price but a bit more that you can really see that the broader market is reacting a little bit because investors of course fear the possibility of the chance of a serious trade war not only with the european union but also with canada with mexico with china because secretary of commerce wilbur ros

once it's a president who speaks english but how has his strategy actually got him because the e.u. metals tariffs dispute is still going on. now absolutely you know what it's like with these meetings you never know what's really happening behind those closed doors but you could argue that trump has pushed back the deadline by a man by one month or so maybe that's also down to microns diplomatic efforts they said that was their first in paris thanks for covering the events. congratulations go out today to the people of greece the organization for economic cooperation and development says there are enormous reform effort is bearing fruit still the o.e.c.d. stephens to continue with reforms after its third bailout expires in august alexis tsipras says greece doesn't need more austerity but rather early. greek prime minister alexis de press has good reason to smile he's received high praise from o.e.c.d. secretary general and head greer for his country's impressive progress and reforms even though they were not voluntary and sometimes against the will of his people resist reform efforts are p

union until june first and there were hopes that deadline would be extended for midnight tonight e.u. metal exports to the u.s. will most likely become uncompetitive under the new tariffs the e.u. is drawing up a list of u.s. products like how the davidson motorbikes levi's jeans and bourbon whiskey which is set to face a penalty tariff here and just at a time that i heard levi's were coming back into fashion let's talk to claire richardson about well not about that but at these tariffs in general she's standing by for us in washington clear so the u.s. pushing ahead with these tariffs obviously washington didn't get what it wanted. you know this has been a moment that everybody has been watching with great anticipation to see whether the united states would extend these exemptions for some of its key allies and really this comes back to protecting american industries in steel and aluminum and in many ways it would be a political win for donald trump at home among his supporters in these states where those are major industries now of course this has escalated into worries about a trade war

e.u. is very very busy these days brian top german and european officials are pressing the u.s. for a permanent extension to its threats of high import tariffs for metals imported from europe which are expected to go into effect this friday trade commission. and german economy minister peter my are expected to meet this week with wilbur ross the u.s. commerce secretary e.u. trade representatives failed to to win a permanent exception to the u.s. tariffs at the start of this month policymakers say they. will introduce countermeasures that could damage economies on both sides of the atlantic if they do not get a permanent exception the german chancellor angela merkel said on monday that she is willing to continue negotiations and that she hopes there won't be a need for retaliatory measures. johnson there using the opportunities of globalization for that to same time reducing the risks is something we can best achieve together but instead of that we see that multilateral initiatives are being questioned international agreements and institutions are being weakened solutions that have already been found i'm not finding support and unilateral approach is no

metals washington says talks with brussels could reduce trade tensions. as the old saying goes plenty more fish in the sea except when there's not the e.u. says it's time for a strict new quarter so. i'm helena humphrey in berlin good to have you with us and germany is losing patience with washington's trade brinkmanship the german economy minister saying raising tariffs is the wrong way of going about things that would hurt jobs in germany europe and the u.s. says delaying the decision as trump did just hours before the midnight deadline is also a big problem especially as businesses have no way of planning for the future. that's die of relief for the european steel industry at least for now the next four weeks the e.u. can continue to sell steel and aluminum to the u.s. with that additional tariffs. back in march donald trump signed off on plans to impose tariffs of twenty five percent on steel imports and ten percent on r.u. many m two weeks later he granted the e.u. and several countries a temporary waiver that exemption ended on may first washington accuses the e.u. of unfair trade practices trump says if no deal is reached within t

is slapping new metal tariffs on imports from canada mexico and the e.u. the president of the european commission says the e.u. will be heading back in some way take a listen this is a better day for the world twenty european union cannot. react to that we've got any kind of reaction so really immediately introduce a set of a dispute. on the on the w t o eleven and through the knowledge in this coming or was called the balance in measures of what they can do we are able to do exactly. the same it's totally unacceptable that it countries impose unilateral measures when it comes to its. credit. but the u.s. commerce secretary wilbur ross says e.u. counter measures would likely have a minimal impact on the american economy well even if the those retailers and even of some others do it still will remain unlikely to be as much as one percent own or counting me remember just because they put terror of snow on some of our products doesn't mean those sales will go to zero in the case of server group culture they may very well find other markets that are just as go

begin enforcing high imports tears for metals imported from europe on friday announced a permanent exemption to the tariffs which took effect for china already in march e.u. trade representatives were sent back to the drawing table after they failed to negotiate a permanent extension to the u.s. terms at the start of this month the pressure is on because if europe fails to come to an agreement again with the u.s. policymakers say they will be forced to introduce counter measures which many fear could hurt both the united states and europe by german chancellor angela merkel said on monday that she's willing to continue negotiations and that she hopes there won't be any need for retaliatory measures. the chance in their group using the opportunities of globalization for that to same time reducing the risks is something we can best achieve together but instead of that we see that multilateral initiatives are being questioned international agreements and institutions are being weakened solutions that have already been found i'm not finding support and unilateral approaches are being launched this is worrying. so the chancellor is worried and for more i am no

e.u. trade representative during last minute meetings where he wanted to keep the exemptions in place so what does this mean for the european union you may aswell the freshly introduced metal tariffs the report these threaten six point four billion euros worth of european exports to the u.s. that's an awful lot of money and those affected are potentially automobile makers in particular germany could be set to see the hardest hit because they are a powerhouse for managed manufacturing automobiles and if we take a look at the u.k. government's reaction again very negative pure disappointment now the e.u. is understandably outrage and the head of the european commission john claude juncker he has slammed the decision pour near. truth on except that it can't push you look at measures when it comes to. credit. ok with all of the. trouble on the line there with both of our correspondents but many thanks the dirichlet in london and american in washington d.c. will try again i think next i'm sure a much better with with the technical issues now. spain's prime minister is facing the prospect of losing his job as parliament debates a motion to remove the under-fire leader motion no

e.u. with tariffs cast a cli described president donald trump one month reprieve on juvies for european metals generous but if no deal is reached the terrace will be back on the table analysts say now is the time for the european union to take decisive action the german government says it's julie noted the extension it expects exemption to become permanent four years his watch had to say a short while ago. so we've taken note of the decision but i'd like to reiterate here the appeal for the exemption to be unconditional and permanent. we believe that the measures taken by the us can't be justified based on national security interest on that this should not happen between allies so we're calling plainly and simply for their withdrawal we shall continue our negotiations with the united states but we refused to negotiate under threats. of the negotiation. let's pull in tito portman executive director of the v.d.m. a germany's mechanical and engineering association picking up on that point of national security you are calling the u.s. so called allies he does have a point they is is that the legal

e.u. with tariffs your sarcastic you describe president donald trump's one month delay on juvies for european metals as j. interests but if no deal is reached the terrace where we back on the table analysts say now is the time for the european union to take decisive action german government says it's judy noted the extension expects the exemption to become permanent take a listen to what you had to say a short time ago if you move on to this we've taken note of the decision but i'd like to reiterate here the appeal for that exemption to be unconditional and permanent. we believe that the measures taken by the u.s. can't be justified based on national security interests and that this should not happen between allies so we're calling plainly and simply for their withdrawal we shall continue our negotiations with the united states but we refused to negotiate under threat. than it was usually. the words of the president of the european commission that now the meeting movement is taking center stage in spain and later has more on that absolutely a lot of women are riled up by a very controversial court d

majority wants the chancellor and the metal to show greater enthusiasm for the european project so why not shrink and why germans against president obama's proposals for an e.u. budget and a eurozone finance minister. you know as i mentioned before germany we don't have too many ideals one ideal is over well being well being of always selves eighty percent of the german population say my own financial situation is good and everything that could threaten this well being good life in germany is not really except it and the bracks it after the break said when we are so are you afraid of the brics it what shocks you what are you afraid of the only think people in germany be fraid of not that the union might be weakened though that germany would have to pay more for the union that they have been paying up to now so for me it's not survive no surprise when it comes to money germans say no we want to say we want to have things as they are i say it's all about the money germans wanted chancellor merkel to show more passion and dedication on the e.u. front all they objecting to his style or her actions. what if you could to say you know we had quite a long period whe

metals washington says talks with brussels could reduce trade tensions. as the old saying goes plenty more fish in the sea except when it's not the e.u. says it's time for a strict new quarter so. i'm having a humphrey in berlin good to have you with us germany is losing patience with washington's trade brinkmanship the german economy minister saying raising tariffs is the wrong way of going about things that would hurt jobs in germany europe and the u.s. says delaying the decision as trump did just hours before the midnight deadline is also a big problem especially as businesses have no way of planning for the future. messiah of relief for the year.