e.u. will be the trading partner to be hit hardest by the new taxes. the e.u. as a whole all twenty eight countries would have six point five billion dollars worth of steel and aluminum exports affected by the new tariffs it's followed by china with an export volume of around three billion dollars germany would pay taxes on a total of one point seven billion dollars worth of such exports each year that makes it the country most affected from within the e.u. . some experts warn that the new tariffs might herald the beginning of a cascade of others which will spread across further sectors and countries and the european still industry fears that europe may soon be flooded with cheap steel imports it being an alternative cheaper dumping ground. and we can speak to a fab unit lin and now he joins me in this studio he's from the i and k. macro economic policy institute at the hands book foundation thank you for being with us i think you think that you could say that you know the european union is worried when it dashes over to d.c. as it has done now what are its cha

signs off on metal tyrants sparking fears of a tit for tat spat leading to an all out global trade war the e.u. says it should be exempt from the left. also coming up going it alone the u.s. may have pulled out of the trans pacific partnership but other countries have gone ahead and signed it anyway creating a massive new free trade center. this is your business update on how the humphrey glad you could join me well the u.s. president follow through on his threats pushing forward with tariffs on imports of steel and on a menu of between ten and twenty five percent trump says the penalties and needed to address what he calls unfair trade and to boost the u.s. economy u.s. business leaders and prominent members of his own republican party have warned his administration is courting economic disaster with the move with the stroke of a pen donald trump shook up international trade. the president signed the healthy new tariffs into law flanked by metal workers he said he was stopping what he called an assault on the u.s. . today i'm defending america's national security by placing cherubs on foreign

the european commission germany's economy minister paid to my had voiced similar hopes he and the e.u. trade commissioner had traveled to washington earlier in the week to make the case the e.u. still produces a white house has said that the terms will take effect on friday. so for more let's bring in do well out of the frankfurt stock exchange still some cautious optimism from the european union from the commission there are european investors buying it. it wouldn't seem that way now european indices all broadly in red territory today we also saw a key indicator of business confidence here in germany slipped by a slip to an eleven month low as a result of these trade tensions so i can imagine that they will they would derive some comfort from confirmation that the e.u. has managed to secure exceptions from steel and aluminum tariffs but maybe even that would just be measured comfort it wouldn't even be clear that european exporters would be out of the woods even then a trade war between important trading partners like the u.s. and china would of course affect the e.u. as well if it leads to

and the trade was already started the e.u. trade. commissioners put peanut butter orange juice and bourbon on it and he trumped tariff list it seems the exact scenario economic economists have warned about during white house economic adviser gary cohn he has now resigned becoming the latest high ranking official leaving the trump administration. x. writers about the how wall street journal called him an economic policy powerhouse gary cohn was a key architect of trump's tax cut it may have been framed as economic populism but to the former head of investment bank goldman sachs it was common sense but his boss ignored conehead advice on another key issue about our tax plan as well we will be imposing tariffs on steel imports in tariffs on aluminum imports and you can see a lot of good things happening and that was apparently too much for koen who reportedly spent weeks warning the president that protectionist policies would only harm u.s. interests and anger key allies. there is literally nothing to be guy and. in the united states at

e.u. summit that's taking place at the end of next week. it's very high this this issue of the trade war the looming trade war was donald trump and the united states a very high on the agenda because as it happens and that really is sheer coincidence and friday the summit will still be going on it's beginning thursday evening so this will be like the first things that heads of state and government talk about want to do how to react they are very unified at the moment because everybody understands that you have all everything to lose if you would sort of get divided up and play into trump you know sort of accepting maybe an exception here for somebody or an extension there for somebody else so we stay together say the europeans and we just really have to sort of link arms stay strong and the terrorists will be go the terrorists will go into will get into force in ninety days after the w t o has been know to find to notify the europeans say we are going to play according to the rules strictly correspondent barbara vessel and brussels thank you. it is not just the e.u. word but china as

trump a set a deadline of may the first to finalize a deal on trade and wants concessions. the e.u. is seeking to deescalate the crisis the last thing it wants is a trade war a lot is at stake especially for germany with its huge trade surpluses for example it sells a lot of cars in the united states. the european union says the deadline of may the first for a deal is unrealistic that's when the suspended tariffs are set to go into force the fight with trump is not over yet. and there was a fight against protectionism which actually means putting high tariffs on imports to make foreign products like chinese steel or german cars more expensive in the u.s. even produces at home a better chance to compete in the end they're the ones who create jobs and pay taxes there so what's so bad when politicians are trying to protect their country's businesses what is protectionism. protectionists want to shield their own country from foreign competition. so they establish barriers the domestic economy receives preferential treatment it's being protected. protectionists often subsidize domestic in

e.u. summit that's taking place at the end of next week. it's very high this this issue of the trade war the looming trade war with the donald trump and the united states a very high on the agenda because as it happens and that really is sheer coincidence and friday the summit will still be going on it's beginning thursday evening so this will be like the first things that heads of state and government talk about want to do how to react they are very unified at the moment because everybody understands that you have all everything to lose if you would sort of get divided up and play into trump you know sort of accepting maybe an exception here for somebody or an extension there for somebody else so we stay together say the europeans and we just really have to sort of link arms stay strong and the terrorists will be go the terrorists will go into will get into force ninety days after the w t o has been know to find to notify the european say we are going to play according to the rules strictly correspondent barbara vessel in brussels thank you know here in germany you see them says rai

germany's new economics minister pay to it maya is traveling to washington on sunday followed by e.u. trade commissioner cecilia mines through both hope they can convince u.s. officials to exempt european products from trump's terrace. earlier i asked our brussels correspondent bob or over his all about the likelihood of success for the last minute efforts to avert these terms not very likely kristof because there has been a paper circulated by the european commission is secret paper but of course most papers here get leaked one way or the other where it's where it says that everybody who's flying to washington these days led to go off all hope more or less so i don't really believe that you can change things to friday but get ready to sort of get into the action and start thinking about the content measures and that's why we now have the concrete list off the table just across the board of american production and produce bought it targeted of course because if one looks at it more closely some states where there are republican governors and senators in place but there's a strong republican

e.u. trading partners. as you say we've just heard now that they're likely to have a temporary exemption at least while further negotiations take place and that's going to be a huge relief for them but it's not going to actually hit at the problem that he was originally trying to address which is of course china and unfair trading practices so it's going to be interesting where he goes from here to see what china's response is and to see whether the european union can maintain its exemption from the tariffs introduced earlier this month and stephen i'd like to ask you because another claim that the u.s. president made in his speech today he said that nations are calling the united states that they are calling because they want to engage in negotiations on better trade deals is that true. they're calling in this case because they definitely didn't want to be hit by steel and aluminum tariffs i think what's interesting here is that these tariffs were widely seen as misguided as claire said they were aimed at

germany's new economics minister pay to it maya is traveling to washington on sunday followed by e.u. trade commissioner cecilia mines through both hope they can convince u.s. officials to exempt european products from trump's terrace and my colleagues in frankfurt is keeping a very close eye on that list any surprises there though. well first of all there are two lists part a part b. five pages each a very small attacks and part a has everything from corn crown berry peanut butter and votes and every conceivable iteration of right. various length with ratios specified and there's also part b. which has things like sun beds and playing cards so these lists monaco are almost comically specific but it goes to show how much effort is devoted to making sure that it's hard to make exceptions because of course exceptions would water down the impact of retaliatory measures and the point of retaliatory measures of course is that they're supposed to hurt. so what are the chances that people can do anything about trade. well investors here aren't really banking on the rosiest even though they are hop

trade war. and surely announce that my colleague max hoffman spoke to band along at the chairman of the e.u.'s trade commission who provided some background on the stance in the face of protective tariffs from the u.s. . so like it wouldn't it be counterproductive now to retaliate to the measures that the u.s. will probably install on steel and aluminum i'm talking about the tariffs of course you know we should to make it clear you opinion statement against this. announced by the united states because it's not related to dumping or subsidies cases is really to close a market of the united states and this is another man's ruling of a double kyoto and therefore we need to reaction from the of insight but isn't that looking at how trump has governed how you react isn't that the spark that really would start a trade war i would not say to a dog but stick to the real sticking to the rule of. also in our countermeasures. i think the united states have to learn that this is an international would based system and they should stick to this as well but do you think this is going to work because trump

from the e.u. trade committee that now you've got to be a great investor to jump on the volatile bitcoin bandwagon central banks commercial banks and politicians have always peatling warned that the crypto currency comes with considerable risk but apparently some teenagers in australia are not heeding that warning they have grown up with tech and see bitcoin and other digital currencies added as an opportunity rather than it's fresh. for dean ashton enteron it all started when he bought his first bitcoin at age fifteen so. i basically didn't really spend much money in high school. i saved it all and. my plan was to you know put it all interior investment for years on the university student in australia has a diverse crypto portfolio and helps others to invest although analysts around the world dissuade people and especially youngsters from trading in crypto currency he's followed by most banks in australia are even banning their customers from buying big coin with credit cards. we've grown up with tech w

e.u. to apply it on trade policy for goods intended for the e.u. market. visitor private means that both sides in trust of the system. option two would be a highly streamlined customs arrangement where he was agreed to minimize frictions to trade together with increasing provisions into northern ireland. we would make sure moving goods across borders is as easy as possible. we should allow gunsmithing between the u.k. and the rest of the world to travel through the e.u. without paying e.u. duties and vice versa. second measures to reduce the risk of delays at airports. other'szing each trading schemes and drying on the most advanced -- drawing on it solutionsnced is so they do not have to stop at the border. nd maximizing the use of automation. and recognizing the unique circumstances and northern ireland and our shared commitment to avoiding a hard order, we should consider further specific measures. 80% of northbound trade are carried out by micro and medium-sized businesses so for trotter -for smaller traders- --for smaller traders whose economic role is

threatened to impose germany's economy economy minister is currently in washington for talks and the e.u. trade commissioner will follow on tuesday the clock is ticking do u.s. import tariffs on steel and aluminum could be imposed as early as friday the planned u.s. tariffs would hit europe's steel industry particularly hard germany's new economy minister says a trade war must be avoided at all costs so he's off to washington for emergency talks and says he's willing to make concessions does the problem with the current situation is that there is a risk that we will get into a spiral of uni lateral actions that runs counter to the idea of global free trade and it would mean turning away from what we have been doing worldwide for the last sixty years we have to talk to one another not criticize each other publicly we have to try to find compromises germany's pro-business f.t.p. party says trump may have a point it's calling on europe to reduce its own tariffs but i think he has legitimate positions but we contact set that he's addressing european protectionism by introducing protectionism of his

e.u. will be the trading partner to be hit hardest by the new taxes. the e.u. as a whole all twenty eight countries would have six point five billion dollars worth of steel and aluminum exports affected by the new tariffs it's followed by china with an export volume of around three billion dollars germany would pay taxes on a total of one point seven billion dollars worth of such exports each year that makes it the country most affected from within the e.u. . some experts warn that the new tariffs might herald the beginning of a cascade of others which will spread across further sectors and countries and the european still industry fears that europe may soon be flooded with cheap steel imports it being an alternative cheaper dumping ground. now arguably correspondent alexandre phenomenon is in washington following the statements by the german economy minister hi it's good to see you alexandra now as you saw the minister how optimistic was he is there a real possibility to avoid these tariffs. well i ask peter all over here is confidence that a solution can be f

e.u. heads of states about what has happened yes it seems that a major trade confrontation between the e.u. and the united states has been averted at least for now but there's still going to be lingering concern that we came close to one in the first place the e.u. and the united states obviously historically have extremely close economic and political ties did you look at donald to the european council presents opening remarks he said that this for us the e.u. was concerned the united states was a great friend that trade brings peace it brings friendship and reading between the lines there is a disquiet that the trump administration and perhaps the president himself really has a tendency to see trade too much as a zero sum game in which one country inevitably comes out as the winner the other the loser and he doesn't quite appreciate the degree to which it can be mutually beneficial i think that's what european leaders who will be saying money to another issue now the nerve agent poisoning issue in the u.k. how much unity is there within europe. had to deal with russia on this. i think th

e.u. and the european trade commission and cecilia monstre has also reacted to the u.s. tariffs on steel and other mini i'm taking to twitter she said on tonight's and nonsense the e.u. is a close ally of the us and we continue to be of the view that the e.u. should be excluded from these measures it will seek more clarity on the issue in the days to come i'm looking forward to meeting the u.s. trade representative lighters in brussels on saturday to discuss and while trump touts his unilateral imp unilateral import tariffs his neighbors canada and mexico and nine other pacific rim nations are lowering trade barriers they're opening their markets with a revamped multilateral free trade agreement which trump rejected after taking office representatives of the eleven countries met in the chilean capital of santiago did in to sign the comprehensive and progressive trans-pacific partnership complicated word c p t p p the deal sees tire of slowing or eliminated on a wide range of goods the eleven signatories have a combined population of half a billion people that's a big mark

e.u. does not seek a trade war but if the e.u. would be dragged into a trade war it would respond without weakness and the reason you hear such strong words coming from e.u. leaders is that there is a serious concern that the tariffs are only a first wave in what could be. a bigger or a much bigger and much more intense assault on the architecture of global trade and the u.s. has also i mean for talking about a new deal here they've set a deadline of may first to get a more permanent solution on the table in terms of you know these these tariffs on steel and aluminum imports what does brussels make of that deadline. the head of the european council head of the european commission which got very clear words in that case to india and he said the deadline to find a deal is just unrealistic it's not enough time to meet and ends here and basically whether we see a permanent exemption here whether permanent exemption in these talks can be achieved depends on what donald trump intense with these terrorists. if he uses them as a bargaining

parliament the minister said china does not want a trade war and won't initiate one meanwhile the e.u. trade officials are calling for exemptions on u.s. import tariffs plan includes a twenty five percent tower on steel and ten percent on alimony and imports writes those are the headlines on al-jazeera produce stay with us people in power is coming up next thank you for watching. facing realities growing up when did you realize that you were living in a special place a so-called secret city getting to the heart of the matter why is activists to live in jail just because she expressed herself hear their story on talk to al-jazeera at this time. provoking one of the largest corruption investigations in south american history the car wash scandal has left its mark on countries from brazil to her. business leaders multinational corporations and politicians have been caught up in allegations ranging from bribery and money laundering to distorting the democratic process how do the case unfold we sent reporter gustavo courage to find out. the biggest corruption scandal in brazil and latin america b

especially hard on smaller german companies up until now many have had very little experience with trade outside the e.u. but just how complicated the post brics it trade groups will become is not yet clear that's still being negotiated. of a more on the brics impact on germany and europe as well as lessons learned from that development i'm joined by hans andersen one of germany's leading economists and also former president of the institute for economic research good to have you with us so this reports we just heard a little bit already about the possible impact that breaks it could have on german industry from your own research how bad to do you think that impact could be. yeah very bad until recently that this was the third biggest export market no no longer we just heard declined a little bit but it is important for jorgen industry to be able to sell in britain but this is only one aspect much more important i think is the political aspect the equilibrium in europe in the you will be distorted britain stood for an open e.u. . trying to have good trade links to the whole world no and germany under th

e.u. is trade commissioner had to travel to washington earlier in the week to make the case for e.u. steel producers the white house has said the terrorists will take effect beginning friday. and it's not just u.s. allies in europe that are on the edge of their seats over the threat a few are just arabs the united states is expected to announce hefty penalty charges against chinese goods as punishment for allegedly stealing intellectual property of u.s. companies all told the tariffs could affect up to sixty billion dollars of chinese exports every year beijing is bracing for an announcement from u.s. president donald trump on thursday slapping more tariffs on chinese imports chinese premier the key chain used the national people's congress this week to appeal to common sense in a verdict in impending trade war. i hope that we can act rationally rather than being led by emotions in order to avoid this trade war. but donald trump remains adamant that the u.s. is at an unfair disadvantage when exporting american products abroad and insists on changing that and i keep telling these coun

trade representative like ties or will meet with the e.u. trade commissioner cecilia mimes term they will sit down and talk and negotiate and that's the imperative thing that we talk and i think that the next fifteen days will be used for that will be used for talks for negotiations and hopefully also others will raise their voices like industry but do you think the these negotiations are likely to be pleading for an exemption does whatever the ok if you do that you're playing the game should they be going for an exemption or should they be telling mr trump to. abandon this policy. well it's certainly difficult to tell president trump to abandon his policy we've seen that he's a negotiator that he needs a deal and i think the tariffs are a political measure he's taking for domestic reasons so he's catering to his voter base so he needs to take something home to show with those who only got minor gains from the tax reform for instance that he's is on their side putting more on their table so i think it will have to be negotiations he won't abandon

germany's new economics minister paid to it maya is traveling to washington on sunday followed by e.u. trade commissioner cecilia mines through both hope they can convince u.s. officials to exempt european products from trump's terrace. and it's not just the e.u. which is worried now the most influential business lobbying group in the united states has warned donald trump against imposing terrace on chinese goods chamber of commerce president thomas donohue says such measures could eventually heard u.s. consumers and the economy is remarks after reports that trump is considering slapping terrorists on up to sixty billion dollars worth of chinese imports. shares of snap tumbled for a second day on friday that after singer rianna told her fans to delete snap chat the company's social media app spoke out after snapchat ran an ad for a smartphone game which poked fun at the violence you have endured in an abusive relationship she denounced snap chat to her sixty one million followers on rival platform instagram snapchat apologized and to down the ad but brianna few refused to accept the apology.

front to allies trump imposed the levies despite warnings of a global trade war saying he needed to preserve american jobs the e.u. and south korea say they may file a complaint with the world trade organization. the kenyan president uhuru kenyatta and the main opposition leader run the dingo promising to work out their differences and to unify the country they've been meeting in nairobi for the first time since the disputed elections last august the opposition went on to boycott a vote that sparked widespread violence across kenya those are your headlines up next it's the stream i will see you very soon. facing the realities growing up when did you realize that you were living in a special place the so-called secret city getting to the heart of the matter why is activist in jail just because she expressed herself hear their story on and talk to al-jazeera at this time. when i return the favor and then i am in the game. i am for me ok on this international women's day we're looking at female journalists on the front lines of journalism stay with us you're live in the stream i know you chad.

e.u. dampened britain's dreams of frictionless trade post prexy. e.u. council president donald tusk said britain needed to present a realistic solution for the future of the irish border and other questions once the u.k. leaves the block is he rebuffed several demands by british prime minister theresa may including special treatment for british banks and. mint chocolate is more popular than ever. swiss confectionery linton lonely soul revenues climbed to a record three point four billion euros in twenty seventeen profits also rose which the company attributed to bigger harvest of cocoa and sugar. the i t v berlin opened its stores this week in the german capital the world's biggest tourism trade fair showcases ten thousand tourists and travel businesses from one hundred eighty six countries and regions chancellor angela merkel kicked off the show at a gallon tuesday for the first time the i t b s official partner region is a german state mecklenburg for partner and in the north east of the country. the baltic beaches of the i.t.v. partner region are thr

parliament the minister said china does not want a trade war and won't initiate one meanwhile the e.u. tradeofficials are calling for exemptions on u.s. import tariffs plan includes a twenty five percent tax on steel and ten percent on alimony and imports writes those are the headlines on al-jazeera but do stay with us people in power is coming up next thank you for watching. facing realities growing up when did you realize that you were living in a special place a so-called secret city getting to the heart of the matter why is activists to live in jail just because she expressed herself hear their story on talk to al-jazeera at this time. provoking one of the largest corruption investigations in south american history the car wash scandal has left its mark on countries from brazil. business leaders multinational corporations and politicians have been caught up in allocations ranging from bribery and money laundering to distort.

imported steel and many and after the resignation of his top economic adviser who oppose the plan the e.u. trade commissioner says it's prepared to take the case to the world trade organization you have today those are your headlines stay with al-jazeera inside story is next. what is triggering violence. in say they're being systematically targeted by the sinhalese buddhists majority governments declared a state of emergency but what will it take to end the recurrent alleges for long term this isn't.

parliament the minister said china does not want a trade war and will not initiate one meanwhile e.u. trade officials are also calling for exemptions on the u.s. imports you see is key u.s. trading partners have warned that trumps tariffs which come into force in two weeks could massively backfire trump's plan will see a twenty five percent levy on steel and ten percent on our many i'm imports paul brennan has moved from brussels. this is a meeting that had been put in the diary several weeks ago to talk about the root cause of the industries the steel industries where as and that is overcapacity but president trumps announcements on tariffs have put new impetus into that part of the discussions that have been taking place here in brussels and the opportunity for the european union trade commission and the japanese trade minister to have face to face time with robert light hisor the u. s. trade envoy is very valuable at the start of this two week period before president trump's tariffs actually start to be imposed there are going to be intense negotiations over this next two weeks to decide

the president spoke about his tariff proposals and he talked about the e.u. trade policy. threatened to tax car imports coming from the e.u. he also spent a silg amount of -- a significant amount of time attacking the media. president trump: sleepy eyed chuck todd. cnn so fake, fake news. msnbc third rate. nbc which is horrible. the newscast is not doing well. gave them good ratings when they were dying, and -- nbc is perhaps worse than cnn. reporter: to some of the president's most of ardent supporters this speech was gold. this is the first campaign rally since he announced his plans to run for reelection. he hinted at a campaign slogan. but for some other people the president crossed more than one line from attacking the media to bringing up the idea of the death penalty for drug dealers. he says someone should challenge trump in 2020. >> do you think he should be challenged? >> i do. it would be a tough go in the republican party. the republican party is the trump party right now, but that's not to say it will stay that way. reporter: some of the policies the white hou

trading like mind. for years the u.s. and the e.u. have been trading goods with relatively little discussion taking place about the fairness of the rules governing the relationship that change with the arrival of donald trump and his decision to impose hefty tariffs on steel and aluminum imports claiming that existing trade agreements were unfairly stacked against the u.s. so does he have a case let's take a look at the numbers about a quarter of the goods the u.s. exports to the e.u. are tax free but it's a different story in the other direction with almost half of the e.u. products sent to the u.s. tax free. on average the e.u. levies just over five percent on american goods the u.s. on the other hand levies just three point five percent he were fishel say they accept trump's concerns but say the focus must remain on dialogue and the president . of. tirades between the e.u. and the us. i can understand. that is the reason why if you go we started trade negotiations this is we should go these talks not. make trade that's the president