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solution its function is to promote free trade and establish a framework for its critics however say the w t o is a relic of the past and should be abolished. well it's picked up on the former president of the w t o is at the global solutions summit in berlin and he joins us now from there good to have you with us are certainly interesting times we're living in here and certainly for global trade how dangerous is washington stance on trade for the global economic system. well it is dangerous. it is dangerous because it's. the only country in this planet and not the smallest one that departs from a long standing commitment in the international system that opening trade is the thing to do however record. the winner loser equation stemming from that may not always be right but it's the first time since a fifty years ago that a major country. becomes another case of protectionism and that's very dangerous although so far so far it's been more bark than bite and the volume in the grocery world trade has not yet been affected is there anything the w t o o can do in order to support europe for exampl
solution its function is to promote free trade and establish a framework for its critics however say the w t o is a relic of the past and should be abolished. well it's picked up on the former president of the w t o is at the global solutions summit in berlin and he joins us now from there good to have you with us are certainly interesting times we're living in here and certainly for global trade how dangerous is washington stance on trade for the global economic system. well it is dangerous....
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on that of the on the w t o. the you is considering in part judy's on us products such as much as cycles bourbon cranberries and oranges mexico and canada are also contemplating countermeasures. on george and i by our washington correspondent claire richardson and from brussels our correspondent. to both of you good evening clearly we start with you how has the commerce secretary from the u.s. defended the american decision to slap its allies and its biggest trading partners with these terror. the u.s. commerce secretary wilbur ross really tried to turn this on its head saying that european negotiators failed to convince washington not to extend i exempt into these tariffs either another temporary one or a more permanent solution now this comes after months of anxiety about what the united states was going to do here we saw personal lobbying efforts by french president and manual micron and german chancellor angela merkel who came to d.c. to try and convince trump and not to impose these tariffs on the european u
on that of the on the w t o. the you is considering in part judy's on us products such as much as cycles bourbon cranberries and oranges mexico and canada are also contemplating countermeasures. on george and i by our washington correspondent claire richardson and from brussels our correspondent. to both of you good evening clearly we start with you how has the commerce secretary from the u.s. defended the american decision to slap its allies and its biggest trading partners with these terror....
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has long ignored w t o rules and even worse aircraft subsidies have cost american aerospace companies tens of billions of dollars in lost revenue. the e.u. says it will take swift action to ensure it's in line with w t o rules but pointed out that the vast majority of u.s. claims were rejected but the story doesn't end there the e.u. has brought its own case against the united states accusing is of illegally subsidizing boeing the outcome of that case won't be known until later this year the tit for tough battle to dominate the skies comes at a time of already soaring trade tensions between the united states and think european union most recently concerning the threat of u.s. tariffs on steel imports the upcoming ruling on alleged u.s. subsidized ation of boeing is likely to lead to further turbulence. and in new york standing by for us is our financial correspondent u.n. school to c.n.n. we have another fascinates in the global trade dispute brewing what response can we expect from washington at this point it seems pretty likely that the u.s. so will impose a mess of tariffs maybe al
has long ignored w t o rules and even worse aircraft subsidies have cost american aerospace companies tens of billions of dollars in lost revenue. the e.u. says it will take swift action to ensure it's in line with w t o rules but pointed out that the vast majority of u.s. claims were rejected but the story doesn't end there the e.u. has brought its own case against the united states accusing is of illegally subsidizing boeing the outcome of that case won't be known until later this year the...
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it is it takes twenty days because before hand the w g o has been notified so this is in accordance with the regulations of the w t o that this will now take place so they really stick to the rules here and they hope that the u.s. will understand that this is the channel on what basis they they want to resolve this conflict yes because they think that would stay with the w.t. oh this cannot spiral into a global trade war but from where you're sitting tonight that danger does it seem stronger than ever retaliate but not ask that is the policy of the european union but of course if you take a look at the bigger picture you do not only have the scenario of a tit for tat war at the spokes person off of the german chancellor said that there's a we were looking at potentially of cycle of of escalation here that the u.s. has has provoked and the bigger picture tells you we also have the situation of the iran nuclear deal that the u.s. has walked away from so if the e.u. continues to trade with iran this could have potential counterterrorist coming from the u.s. then there's also a data protection law that has been passed
it is it takes twenty days because before hand the w g o has been notified so this is in accordance with the regulations of the w t o that this will now take place so they really stick to the rules here and they hope that the u.s. will understand that this is the channel on what basis they they want to resolve this conflict yes because they think that would stay with the w.t. oh this cannot spiral into a global trade war but from where you're sitting tonight that danger does it seem stronger...
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well look this has been going on for about fourteen years with the w t o and back and forth between boeing and airbus and of course the e.u. and america standing behind their team now we hear that the w t o has made its decision siding with the united states saying that billions of dollars were dumped into subsidies were given to air bus now the us and boeing were claiming that about twenty two billion dollars were invested in a number of programs at air bus which gave them an unfair advantage over boeing and thus became a major competitor as it was not in the past with boeing actually growing the company and taking business away from boy with this unfair practice now that said well yes this is a twenty two might be a big big number might not be twenty two billion by be more like nine billion but they're going to be breaking it down year by year what the damage was done and that's something that they're going to be doing right away it's something it's a process that they're getting into right now now also when it comes to the w t o you have to think of all the the arguments against boeing
well look this has been going on for about fourteen years with the w t o and back and forth between boeing and airbus and of course the e.u. and america standing behind their team now we hear that the w t o has made its decision siding with the united states saying that billions of dollars were dumped into subsidies were given to air bus now the us and boeing were claiming that about twenty two billion dollars were invested in a number of programs at air bus which gave them an unfair advantage...
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where they are coming from europe or for that's where i think the european union must fight this the w t o by taking the us to the dispute in the w g o and by repeating with its own power if if mr trump does not back down yes this is a major issue europe has to act on strong for him or getting the us why why recognising that the us are not always wrong when they say that the rules of world trade today all not what they should be and they notably the whole song chinese behaviorism which are contrary to a level playing field worldwide so you lost side with china against the us and not siding with the us against china in trying to improve the rules of world trade through a multilateral negotiation and that's the european mission i mean you've already hinted quite strongly that a trade rules at changing times are moving faster and faster and there are some who say that they can't wait for example for the delhi to catch up and basically sorts things for them do you think that the w t o keeps up pace can keep up pace. i think that i mean hugh and by the way i don't see any other sort of action i
where they are coming from europe or for that's where i think the european union must fight this the w t o by taking the us to the dispute in the w g o and by repeating with its own power if if mr trump does not back down yes this is a major issue europe has to act on strong for him or getting the us why why recognising that the us are not always wrong when they say that the rules of world trade today all not what they should be and they notably the whole song chinese behaviorism which are...
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the former head of the w t o tells the w. these a dangerous times for global trade but that the playing field does need to be evened out. and the plastic epidemic regular strolls and cups have a very shaky future in europe. bulldozing through new legislation to save the planet. i mean physical and let's do business mother ella got out early and volatility italy's political stalemate is nearing three months it's driving financial markets mad they cheered on president said as he refused to appoint a euro skeptic the finance minister but he named an economist carlo caught early to lead the country until you were lections that could take a while there was relief among traders in milan when markets opened their leading italian share index left by one point eight percent the euro saw an upswing too after all a new government dominated by euro and germany skeptics could have seen italy step out of the euro zone but now what who will end up governing italy this uncertainty made indexes slide again over the course of the day. yeah wha
the former head of the w t o tells the w. these a dangerous times for global trade but that the playing field does need to be evened out. and the plastic epidemic regular strolls and cups have a very shaky future in europe. bulldozing through new legislation to save the planet. i mean physical and let's do business mother ella got out early and volatility italy's political stalemate is nearing three months it's driving financial markets mad they cheered on president said as he refused to...
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says it will take swift action to ensure it's in line with w t o rules but pointed out that the vast majority of u.s. claims were rejected. but the story doesn't end there the e.u. has brought its own case against the united states accusing it is of illegally subsidizing boeing the outcome of that case won't be known until later this year the tit for tough battle to dominate the skies comes at a time of a ready soaring trade tensions between the united states and the european union most recently concerning the threat of u.s. tariffs on e.u. steel imports the upcoming ruling on alleged u.s. subsidized ation of boeing is likely to lead to further turbulence and in new york standing by for us is our financial correspondent yes cool to see and we have another facets in the global trade dispute brewing what response can we expect from washington at this point it seems pretty likely that the u.s. will impose a mess of tariffs maybe already at the start of twenty nineteen and when i say mess if expectations are we are talking billions of dollars maybe up to nine billion dollars and those te
says it will take swift action to ensure it's in line with w t o rules but pointed out that the vast majority of u.s. claims were rejected. but the story doesn't end there the e.u. has brought its own case against the united states accusing it is of illegally subsidizing boeing the outcome of that case won't be known until later this year the tit for tough battle to dominate the skies comes at a time of a ready soaring trade tensions between the united states and the european union most...
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but at least at this point that's the likely scenario by the way there's also a case pending at the w t o regarding boeing that they also received subsidies from the u.s. side but this case is probably going to take years to be decided and of course we also have the chinese trade delegation on a return visit to the u.s. what do we know so far well we do not have that many details yet on the chinese delegates being here in the united states and also the general. told out of washington is the narrative is not necessarily consistent on one side we had the u.s. ambassador on china saying that the two sides are still well apart far apart over it it comes to the trade talks on the other side larry kudlow one of the economic advisors to the u.s. president in an interview he was talking about a bromance between the u.s. and the chinese president and this good relationship that the two are having eventually could lead to a successful trade talker but it's really a wide open if those two countries the two biggest economies on the planet will find some common ground all right for us in new york than
but at least at this point that's the likely scenario by the way there's also a case pending at the w t o regarding boeing that they also received subsidies from the u.s. side but this case is probably going to take years to be decided and of course we also have the chinese trade delegation on a return visit to the u.s. what do we know so far well we do not have that many details yet on the chinese delegates being here in the united states and also the general. told out of washington is the...
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w t o the o.e.c.d. are not perfect but the answer to that to the current problems is not to destroy everything now we need to improve these organizations we need to find new ways of working together that is very important because if we go back to protectionism and to everybody being on its own it's going to get a lot worse and also we need multilateralism to fight or to work together in the fight against terrorism that's what im on michael said so far. is that going to help this or prevent this trade war from happening well you know he's trying for the time being none of the two sides seeming to give in though we know that talks are going on behind the scenes at this very moment the economics ministers of france and of germany and the e.u. trade commissioner talking to each other and a little later they will meet wilbur ross the u.s. commerce secretary and obviously everybody's hoping that they will find a solution but for the dime being there has no there is no compromise that has been found so far exa
w t o the o.e.c.d. are not perfect but the answer to that to the current problems is not to destroy everything now we need to improve these organizations we need to find new ways of working together that is very important because if we go back to protectionism and to everybody being on its own it's going to get a lot worse and also we need multilateralism to fight or to work together in the fight against terrorism that's what im on michael said so far. is that going to help this or prevent this...
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that we're not willing to just submit to the us wish on the other hand it is quite doubtful from a w t o more perspective whether this approach would actually in itself be legal. if you're based in brussels there said great deal of unity and how to deal with this issue or do people have different approaches. well i might like to think for the time being i'm rather optimistic so far yes there is quite a bit of unity here and both the major players if i may say so in the politics also of france and germany are acting quite unanimously here both have had their elections last year so maybe need to show strength in a particular way i hope this continues you mentioned earlier in your show the bracks of negotiations these are things where if the budget gets turmel her toilette there it certainly is more doubtful whether that unity will stand also when it comes to tariffs which then and again may impact the national economies. very briefly if you can what are you hearing from your clients what do they expect will happen. well they would like something to happen namely that is to get clarity as s
that we're not willing to just submit to the us wish on the other hand it is quite doubtful from a w t o more perspective whether this approach would actually in itself be legal. if you're based in brussels there said great deal of unity and how to deal with this issue or do people have different approaches. well i might like to think for the time being i'm rather optimistic so far yes there is quite a bit of unity here and both the major players if i may say so in the politics also of france...
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on the on the w t o love of country knowledge and it is covering all those. measures do you consider is in part to tease on u.s. products such as motorcycles whiskey cranberries and oranges mexico is also contemplating countermeasures. are everybody's trying to digest what this all means let's bring washington correspondent claire richardson and correspondent derek motus to help us make sense of all this clare want to start off with you if i may how is the commerce secretary the senate the american decision to slap its allies and biggest trading partners with these terrorists. well when the trump administration first announced these tariffs back in march they said that the tariffs were essential for national security reasons that having strong u.s. domestic production of steel and aluminum was important for national defense now of course key allies see them as unfair trade practices and trump really has a lot of political support in some of the states that are some of the biggest steel and aluminum manufacturers in the united states so he's perhaps looking to
on the on the w t o love of country knowledge and it is covering all those. measures do you consider is in part to tease on u.s. products such as motorcycles whiskey cranberries and oranges mexico is also contemplating countermeasures. are everybody's trying to digest what this all means let's bring washington correspondent claire richardson and correspondent derek motus to help us make sense of all this clare want to start off with you if i may how is the commerce secretary the senate the...
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you can you can raise terrorist and then we can go to w t o and sue can just settlement procedures in w t o to handle terry feed into his does agreeable maybe to a retaliation and that's what people call trade wars what the west you with trumpets and styled you know it's like if you're nonces like you in the steven show in sr reality it's a new way of doing diplomacy if i may say so no real issue i mean it's unpleasant it's difficult but it can be have all. the central issues that worries me. the most in recent years in the u.s. approach. to international relations in general not just to trade is that they have begun to use the mystic legislation as a way to coerce. their economic advantages mr lewis you know you've been making that point. for quite some time and i think many in europe see triumph as the only problem whereas you have specifically pointed out that the united states have been in applying its laws extra territorially for over forty years why do you think has it taken so long for the europeans to wake up to this practice because they're only starting to noticing it now wh
you can you can raise terrorist and then we can go to w t o and sue can just settlement procedures in w t o to handle terry feed into his does agreeable maybe to a retaliation and that's what people call trade wars what the west you with trumpets and styled you know it's like if you're nonces like you in the steven show in sr reality it's a new way of doing diplomacy if i may say so no real issue i mean it's unpleasant it's difficult but it can be have all. the central issues that worries me....
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that is strange to eat but the w t o is far from perfect and yet there are no intractable problems within the w t o to discard it and not create anything in return means to destruct the balance and then the trade disputes would not have any plain tapes not any defendants on the force for decide who is right naturally we're not talking about freezing the existing order. to make dogmatic something that is practically lifeless the world is changing and thus to institutions and rules true change as well one thing is clear this rule should be transparent and common for everyone and they should be observed by all the participants of international economic relationships what is also important is that we need to develop and implement a legitimate change mechanism within the framework to which the international community will be able to discard the outdated and inefficient and archaic norms but at the same time. i'm keeping the best. instruments in creating new instruments which are on par with more than requirements in this vein for global trade agenda especially relevant are the areas where the
that is strange to eat but the w t o is far from perfect and yet there are no intractable problems within the w t o to discard it and not create anything in return means to destruct the balance and then the trade disputes would not have any plain tapes not any defendants on the force for decide who is right naturally we're not talking about freezing the existing order. to make dogmatic something that is practically lifeless the world is changing and thus to institutions and rules true change as...
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well the french president has said i understand multi-lateralism that our organizations the w t o w t o the o.e.c.d. are not perfect but the answer to that to the current problems is not to destroy everything now we need to improve these organizations we need to find new ways of working together that is very important because if we go back to protectionism and to everybody being on its own it's going to get a lot worse and also we need multilateralism to fight it to work together in the fight against terrorism that's what in monaco said so far. is that going to help this or prevent this trade war from happening. well you know he's trying for the time being none of the two sides seeming to give in though we know that talks are going on behind the scenes at this very moment the economics ministers of france and of germany and the e.u. trade commissioner talking to each other and a little later they will meet wilbur ross the u.s. commerce secretary and obviously everybody's hoping that they will find a solution but for the dime being there has no there is no compromise that has been foun
well the french president has said i understand multi-lateralism that our organizations the w t o w t o the o.e.c.d. are not perfect but the answer to that to the current problems is not to destroy everything now we need to improve these organizations we need to find new ways of working together that is very important because if we go back to protectionism and to everybody being on its own it's going to get a lot worse and also we need multilateralism to fight it to work together in the fight...
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May 24, 2018
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astkee policein datn he man17eal g mital ap h>>pening t ourr.dehena catholic pr hasdear'sve m thicer cthry's o a rare to a potentially deadlyrodurect for wcainet says t o embuome. s r child nt. hetng ss try theiro chal on ys vi ilee. ng a dian read them spforndy y afrs yelou gearvaable right.po slte.seroad.c's arels oneou m 6 tuck.rab sots5 omeight king tpeopl me.e.ar ythe?rreou o tr,kee'ka gng to r.ay $250tus j>> aow.iglet the.ks ale. wereff nico0' andftetls xc d aicen td over f70 per dceei eowereoo. s p did tk sosaytrels le $0. g p did tk sosaytrels le $0. g howattthth♪om my tsi't for thfa in. and a bank that hei'lps yollue care of businem froywhean li e u.ke my tsi't for thfa in. calling ston' sur sweniof t couitisovrse, woulds,r todayes, if it has anymaetpactr ofoursend a featurepd tonafun iple swe sos,dkaauony,e mcttalin dona breakfast cinatg erpleaed e groups rtoram ad erhethe s yg,nein run t go mcdonald's and plea n iev,s onl where infseow f >>lo rep ter:locaellons and it's delivery that comes threagh uber kaou.or sro butightw,you. y. oka hthat time dig n. t osigu t tha seekend w o a lo, arightgsscreaming ]u hmming. h pi sock i'm
astkee policein datn he man17eal g mital ap h>>pening t ourr.dehena catholic pr hasdear'sve m thicer cthry's o a rare to a potentially deadlyrodurect for wcainet says t o embuome. s r child nt. hetng ss try theiro chal on ys vi ilee. ng a dian read them spforndy y afrs yelou gearvaable right.po slte.seroad.c's arels oneou m 6 tuck.rab sots5 omeight king tpeopl me.e.ar ythe?rreou o tr,kee'ka gng to r.ay $250tus j>> aow.iglet the.ks ale. wereff nico0' andftetls xc d aicen td over f70...
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terry if it is a different story terri is named to w t o and procedure the beauty you wasn't going to be able to read you staring and you believe that we are trying to respect that procedure. you can you can raise terrorist and then we can go to w t o and sue can just settle in the procedure the cio to handle terrorist his injuries does agreeable maybe to retaliation and that's what people call trade wars what the west you with a trump is a style you know it's like if he announces like you the it's t.v. show is senior reality it's a new way of doing diplomacy if i may say so no the real issue i mean it's unpleasant it's difficult but it can be handled as a central issue that worries me. the most in recent years in the u.s. approach. to international relations in general not just to trade is that they have begun to use the mystic legislation as a way to coerce of the conflict and their economic advantages mr lewis you know you've been making that point. for quite some time and i think many in europe see triumph as the only problem whereas you have specifically pointed out that the unit
terry if it is a different story terri is named to w t o and procedure the beauty you wasn't going to be able to read you staring and you believe that we are trying to respect that procedure. you can you can raise terrorist and then we can go to w t o and sue can just settle in the procedure the cio to handle terrorist his injuries does agreeable maybe to retaliation and that's what people call trade wars what the west you with a trump is a style you know it's like if he announces like you the...
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from and that's important wording from favored nations the favored nation the term is a term from the w t o from the world trade organization and it basically means that if you want to want to be treated fairly within the framework of the w two zero you have to treat the other nations fairly as well this is a message by the chinese to the americans to play by the rules and if not the chinese at least might not consider the americans a favored nation anymore. and thanks for your analysis from frankfurt and gail in brussels for us back to amrita with news from the russian foreign minister's visit to north korea that's right thank you very much man. russia's foreign minister sergei lavrov has extended an invitation to north korean leader kim jong un to visit russia the announcement came as love rove made a trip to pyongyang where he met kim moscow said the aim of love rob's visit was to discuss bilateral relations as well as international and regional issues the trip comes less than two weeks before a planned historic summit between u.s. president donald trump and north korean leader kim jong
from and that's important wording from favored nations the favored nation the term is a term from the w t o from the world trade organization and it basically means that if you want to want to be treated fairly within the framework of the w two zero you have to treat the other nations fairly as well this is a message by the chinese to the americans to play by the rules and if not the chinese at least might not consider the americans a favored nation anymore. and thanks for your analysis from...
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arrangements for better access to the markets for industrial products including cars that includes a form of w t o in order to make it more efficient and to to improve the efficiency of the ethernet body it includes an offer to talk on better access for l.n.g. gas to europe and as an important issues because we believe it would be better to cut try to. instead of increasing them we believe that we need more free trade on a global scale and not less and therefore we have we have tabled as proposal the american president will take his decision tonight we do not know the results and according to the decision to be taken of course europe will decide on its reaction and europe is united europe is firm so i am very confident that the message from from the european commission and from germany will be unparalleled in the talks do fail how badly well that the german and the european economies. first of all we should not speculate second. the european and the german economy are very robust so i do not believe in immediate effects but what the should try to avoid. and this was repeated by the french presiden
arrangements for better access to the markets for industrial products including cars that includes a form of w t o in order to make it more efficient and to to improve the efficiency of the ethernet body it includes an offer to talk on better access for l.n.g. gas to europe and as an important issues because we believe it would be better to cut try to. instead of increasing them we believe that we need more free trade on a global scale and not less and therefore we have we have tabled as...
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rival boeing the w t o ruling upholds a claim by the united states that the european union has been illegally subsidizing two kinds of aircraft made by airbus the a three eighty super jumbo and the a three fifty twin aisle jess. that says the trade body has led to lost sales for boeing the decision enables the united states to seek the right to impose sanctions against the e.u. u.s. trade representative robert litan hisor had this to say in response. this report confirms once and for all that the e.u. has long ignored rules and even worse aircraft subsidies have cost american aerospace companies tens of billions of dollars in lost revenue. the e.u. says it will take swift action to ensure it's in line with the rules but pointed out that the vast majority of u.s. claims were rejected but the story doesn't end there the e.u. has bought its own case against the united states accusing is of illegally subsidizing boeing the outcome of that case won't be known until later this year the tit for tough battle to dominate the skies comes at a time of already soaring trade tensions between the united st
rival boeing the w t o ruling upholds a claim by the united states that the european union has been illegally subsidizing two kinds of aircraft made by airbus the a three eighty super jumbo and the a three fifty twin aisle jess. that says the trade body has led to lost sales for boeing the decision enables the united states to seek the right to impose sanctions against the e.u. u.s. trade representative robert litan hisor had this to say in response. this report confirms once and for all that...
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terry if it is a different story terry is linked to w t o and the procedure and the beauty you with an organization built to reduce terror and you believe that we are trying to respect that procedure. you can raise terrorist and then we can go to w t o and sue can set them a procedure the cio to handle terrorists he's enjoying his disagreeable maybe to retaliation and that's what people call trade wars what's you with a trump is a style you know it's like he announces like you it's t.v. show is senior reality it's a new way of doing diplomacy if i may say so no the real issue i mean it's unpleasant it's difficult but it can be have all. the central issues that worries me. the most in recent years in the u.s. approach. to international relations in general not just to trade. they have begun to use the mystic legislation as a way to poor urse of the conflict and their economic advantages mr lewis you know you've been making that point. for quite some time and i think many in your see as the only problem whereas you have specifically pointed out that the united states have been in applyin
terry if it is a different story terry is linked to w t o and the procedure and the beauty you with an organization built to reduce terror and you believe that we are trying to respect that procedure. you can raise terrorist and then we can go to w t o and sue can set them a procedure the cio to handle terrorists he's enjoying his disagreeable maybe to retaliation and that's what people call trade wars what's you with a trump is a style you know it's like he announces like you it's t.v. show is...
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May 31, 2018
05/18
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ALJAZ
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on that of the on the w t o level and through the knowledge in the next coming called the balance in measures of what they can do we are able to do exactly . the same it's totally obvious at the bit that it can't we use impose unilateral measures when it comes to its. credit. let's go live now to our white house correspondent can really help get it to me is this it then or is there still some room for maneuver. well according to the commerce secretary wilbur ross who held a call with reporters and making this announcement he was in paris when he made that. this is not the end what this is in the eyes of the united states is something that can still be ongoing in terms of discussions now does that mean that the united states is not expecting retaliatory measures it certainly is and it says that it is already particularly when it comes to farmers another big port part of donald trump's support base not just the manufacturing sectors of steel and aluminum but certainly there are some steps have been put in place to mitigate this but the feeling of the united states in the words of the c
on that of the on the w t o level and through the knowledge in the next coming called the balance in measures of what they can do we are able to do exactly . the same it's totally obvious at the bit that it can't we use impose unilateral measures when it comes to its. credit. let's go live now to our white house correspondent can really help get it to me is this it then or is there still some room for maneuver. well according to the commerce secretary wilbur ross who held a call with reporters...
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not want it to get worse the normal procedure when there's a hand a trade dispute is to go to the w t o. but forcing america to be outside and not inside is probably the right strategy right retaliation escalation at the moment from the european union when clear from the j.f.k. instead of three instead of the free university of berlin or is great to have your analysis. deutsche bank shares were down at a historic low on thursday after a downgrading by u.s. federal institutions came to light according to the wall street journal the downgrading actually took place a year ago first the federal reserve labeled the banks u.s. businesses troubled this in turn causing the u.s. federal deposit insurance corporation to watch a bank on its list of problem banks those with weaknesses in danger during their financial viability the revelation comes amidst the bank's restructuring efforts. a corruption scandal is rocking kenya twenty four of the country's highest officials are accused of misappropriating funds with seventy million euros and this court proceedings unfold more and don't details are com
not want it to get worse the normal procedure when there's a hand a trade dispute is to go to the w t o. but forcing america to be outside and not inside is probably the right strategy right retaliation escalation at the moment from the european union when clear from the j.f.k. instead of three instead of the free university of berlin or is great to have your analysis. deutsche bank shares were down at a historic low on thursday after a downgrading by u.s. federal institutions came to light...
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solution its function is to promote free trade and establish a framework for its critics however say the w t o is a relic of the past and should be abolished. well the former president of the world trade organization let me just happens to be at the forum so we asked him is there something the w.t. opan do to support countries doing the right thing. of course of course the world trade organization has rules. that forbid the sort of action from initiated in the us a notably this terrorist on a still another medium where they are coming from europe or from elsewhere and i think the european union must fight this the w.h.o. by taking the us to the dispute in the w g o and by retaliating with its own dire if if mr trump does not back down yes this is a major issue europe has to tungsten for him again the us why why recognising that the us are not always wrong when they say that the rules the world trade today all not what they should be and they notably. song chinese behaviorism which are contrary to a level playing field worldwide so you must side with china against the u.s. and not side with the
solution its function is to promote free trade and establish a framework for its critics however say the w t o is a relic of the past and should be abolished. well the former president of the world trade organization let me just happens to be at the forum so we asked him is there something the w.t. opan do to support countries doing the right thing. of course of course the world trade organization has rules. that forbid the sort of action from initiated in the us a notably this terrorist on a...
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no, the bases on what he is doing, is national security to get around the w t o is doing, is nationalw t 0 rule. is doing, is national security to get around the w t 0 rule. that's an interesting line thejustin trudeau in canada has taken real offence and called it an affront to canadians who served alongside americans and it's actually that he came out quite strongly tonight on the issue. it's all part of the way he did get it through in terms of legislation and the white house using it as a measure, but actually language has offended lots of people.
no, the bases on what he is doing, is national security to get around the w t o is doing, is nationalw t 0 rule. is doing, is national security to get around the w t 0 rule. that's an interesting line thejustin trudeau in canada has taken real offence and called it an affront to canadians who served alongside americans and it's actually that he came out quite strongly tonight on the issue. it's all part of the way he did get it through in terms of legislation and the white house using it as a...
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the pope have is i believe the question once asked by stalin there is important who controls the w c o. t o is one of those multilateral institutions that will only be as strong as the voluntary consent of those who are there now having said that i think it's important for you are up and other important trading partners to make sure that the united states is done by itself outside of this. dispute resolution system of course always welcome to come back but the irony that we're seeing here is that you've got this particularly the european union trying to stay within the parameters of this of the deputy of this multilateral agreement that the united states helped to create better two years ago hundred sixty four members and in fact. it's the european union's way of saying look at us behaving this is the way that global diplomacy should be conducted by taking a complaint for example to the world trade organization which you have to members well it is a compass an organization can take years can say the decision to come for a decision to come later is not particularly agile whether it would r
the pope have is i believe the question once asked by stalin there is important who controls the w c o. t o is one of those multilateral institutions that will only be as strong as the voluntary consent of those who are there now having said that i think it's important for you are up and other important trading partners to make sure that the united states is done by itself outside of this. dispute resolution system of course always welcome to come back but the irony that we're seeing here is...
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recent weeks we talked about about it at the beginning of this week this is in the framework of the w t o. the americans are still playing by the rules so as long as this is the case of course there's hope for a solution to be found there because you can paint an optimistic picture by calling all of this just putting it all down to squabbling but the trade tensions have been hitting global equities the question is when it's going to hurt global trade and the o.e.c.d. is already come out today with a and adjusted forecast putting global growth down a notch. absolutely i mean the effect is there not only you know companies that have to deal with those terrorists directly got to feel it the protests in america are quite loud car makers can makers got to feel those terrorists and you know the immediate cost is only one thing of course this has weighed significantly on sentiment if you are an entrepreneur if you are a business person that wants to start a business you want to be sure about the framework that you're operating in if you don't know what this framework is you won't invest exactly
recent weeks we talked about about it at the beginning of this week this is in the framework of the w t o. the americans are still playing by the rules so as long as this is the case of course there's hope for a solution to be found there because you can paint an optimistic picture by calling all of this just putting it all down to squabbling but the trade tensions have been hitting global equities the question is when it's going to hurt global trade and the o.e.c.d. is already come out today...
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not escalate that is sort of the objective of the european union now and so they will start to the w t o a dispute settlement case say rather symbolic step because this drags on for years but they remain within the framework of the w t o and so they have already handed in a list that has been agreed by e.u. leaders a temp agency of products that tariffs can be slapped on a punitive measures if you want this list now can take effect from the twenty eighth of june onward at the w t o but only if member states within the next couple of days or weeks give again their sums up for these balancing measures to take effect and then technically if the. really regards the tariffs taken by the us is illegal then the second wave of broad arcs could be slapped on top of the one that we expect to take effect from the twentieth of june on goods and clear garrick i want to put the same question to you both i'd like you to start to clear is this what the beginning of a trade war looks like briefly it's certainly an escalation in a trade conflict and again it's going to depend a little bit how the european
not escalate that is sort of the objective of the european union now and so they will start to the w t o a dispute settlement case say rather symbolic step because this drags on for years but they remain within the framework of the w t o and so they have already handed in a list that has been agreed by e.u. leaders a temp agency of products that tariffs can be slapped on a punitive measures if you want this list now can take effect from the twenty eighth of june onward at the w t o but only if...
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cause great confusion to the global economy have a negative impact on multilateral trade under the w t o system that would be very regrettable. opinion remains divided about whether import tariffs would actually benefit the u.s. car industry some experts say the move is unlikely to create new jobs. water has been scarce in south africa's cape town for many months years of drought mean the city's water reservoirs haven't been replenished by rain earlier this year day zero the day when the city would run out of water entirely well slated for organist has changed how businesses operate but also created opportunities for small business has picked up among the d.z. clowney he cleans cars without water i don't think it is a. different place than ever and you find out that a good idea would be seven out of four days to go in and people in cape town have been fined for washing cars with water as a result of the disease business has been attracting customers. gave you may tell me what it was like well we're hoping you know that. cape town has reduced its water consumption by fifty percent in thre
cause great confusion to the global economy have a negative impact on multilateral trade under the w t o system that would be very regrettable. opinion remains divided about whether import tariffs would actually benefit the u.s. car industry some experts say the move is unlikely to create new jobs. water has been scarce in south africa's cape town for many months years of drought mean the city's water reservoirs haven't been replenished by rain earlier this year day zero the day when the city...
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cause great confusion to the global economy have a negative impact on multilateral trade under the w t o system that would be very regrettable. opinion remains divided about whether import tariffs would actually benefit the u.s. car industry some experts say the move is unlikely to create new jobs. well you know now the joins us now from the association of german chambers of commerce and industry and you're good to see you i've been talking to lots of analysts about this for weeks now and they are saying a word saying that this would be the big one the metals tariffs both china and you the u.s. were just testing the waters but what it would if it came to cut tariffs is going to really start a trade war well it's a very difficult situation at the moment and even the the reasoning for the new attempt to impose tariffs is a little bit constructed so we're heading into a very difficult situation on world trade and especially because one of the major german branches with the car sector is targeted a little bit constructed national security i mean where is the reasoning in that what's what's w
cause great confusion to the global economy have a negative impact on multilateral trade under the w t o system that would be very regrettable. opinion remains divided about whether import tariffs would actually benefit the u.s. car industry some experts say the move is unlikely to create new jobs. well you know now the joins us now from the association of german chambers of commerce and industry and you're good to see you i've been talking to lots of analysts about this for weeks now and they...
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drum himself what the real agenda is some even suspect that the actual target of all of this is the w t o is the whole architecture of international trade that is on the table here when it comes to the to the terrorists themselves there was some hope that maybe a trade off can be reached that some concessions could be made on the european side that would then allow for for avoiding these tariffs and then there is still i would say now some hope that maybe soft tariffs rather than hearts tariffs can be agreed to so that there would be a limits and so a soft quote or basically if you would go above that quota that only then the punitive tariffs would come into action but we'll have to see what actually will happen that conrad whether or not they saw thought what are the tariff going to mean for european still making. well an increase of twenty five percent that's what people in steel factories here in europe are getting prepared for which would mean a twenty five percent increase of prices of european products on the american steel markets and this would mean that a large chunk of those pro
drum himself what the real agenda is some even suspect that the actual target of all of this is the w t o is the whole architecture of international trade that is on the table here when it comes to the to the terrorists themselves there was some hope that maybe a trade off can be reached that some concessions could be made on the european side that would then allow for for avoiding these tariffs and then there is still i would say now some hope that maybe soft tariffs rather than hearts tariffs...
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beijing's importance in such testing time is she not shown that in germany except the rules of the w t o nevertheless we'll discuss reciprocal trade issues that exist questions of intellectual property and we want to strengthen multilateralism. german industry is almost as worried about chinese efforts to acquire the technical know how as it is about trade barriers but only almost we are already in a trade conflict we don't want this conflict is escalating one good thing is that it brings us together china and germany china and the european union that we speak together about how can we progress free trade germany hopes that china will use its economic clout to stop the u.s. from further undermining the very free trade it used to stand for it there are no illusions in berlin that beijing can ever become the kind of ally washington will always be. but you know when we talk about china we are aware that we face a partner whose values a political model from what we perceive to be right civil society is unable to articulate itself as it can in north america and europe so talks are totally dif
beijing's importance in such testing time is she not shown that in germany except the rules of the w t o nevertheless we'll discuss reciprocal trade issues that exist questions of intellectual property and we want to strengthen multilateralism. german industry is almost as worried about chinese efforts to acquire the technical know how as it is about trade barriers but only almost we are already in a trade conflict we don't want this conflict is escalating one good thing is that it brings us...
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protectionism from the european side and this of course would not be according to the rules of the w t o the world trade organization conrad thank you. hamburg is heaping pressure on the german government to force carmakers to retrofit dirty diesels otherwise city officials say a driving ban on all the diesel vehicles will stay in place the port city is the first here to make the controversial move in the wake of the emissions cheating scandal but not everyone's convinced of its merits in reducing air pollution. starting today it's the law plays a mansion are say is one of hamburg's busiest roads and from now on only diesels meeting the strict euro six exhaust emissions standards are allowed here. but so far little has changed even older diesel trucks are still out and about it's not an easy band to implement with no windscreen badges police can't readily see if a vehicle meets the required standards or not. meanwhile at a press conference in hamburg environmentalist's local shop owners and residents and their anger. but for some the band doesn't go far enough for others it's half baked.
protectionism from the european side and this of course would not be according to the rules of the w t o the world trade organization conrad thank you. hamburg is heaping pressure on the german government to force carmakers to retrofit dirty diesels otherwise city officials say a driving ban on all the diesel vehicles will stay in place the port city is the first here to make the controversial move in the wake of the emissions cheating scandal but not everyone's convinced of its merits in...
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to calm things down the concern really is that this is potentially targeting the w t o it's targeting the entire architecture of international trade and for the european union this is the big concern younger went on for instance to say that at the moment yes the feeling that u.s. friends turn their back to everything that sounds like multilateralism and so that you will see efforts on the part of the european union to work against this targeting multi-lateralism to reach out to the u.s. but at the same time you will also see them play hardball they're playing hardball clare you get the last word what's the end game here well that's the thing that's very unclear it certainly appears that the trump administration has been burning bridges with key american allies it's going to remain to be seen exactly what kind of retaliatory tariffs take place how strongly europe and other allies react to this we already know that mexico has said it's going to penalize imports of apples grapes cheese and of course there's the famous list of retaliatory tariffs from the european union that could go into
to calm things down the concern really is that this is potentially targeting the w t o it's targeting the entire architecture of international trade and for the european union this is the big concern younger went on for instance to say that at the moment yes the feeling that u.s. friends turn their back to everything that sounds like multilateralism and so that you will see efforts on the part of the european union to work against this targeting multi-lateralism to reach out to the u.s. but at...
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of the measures she made very clear will be proportionate and they will be within the deed of the w t o trade regulations there are some expectations i just talked to a lawmaker from the european parliament who said that. while if you want to call them punitive tariffs will only be hof of what the e.u. could actually do at least that is what the european parliament has recommended so there is this list of tariffs and then there are the e.u. will also trigger a dispute settlement case at the w g o this will rather be a symbolic act to emphasize again that the e.u. would like to see a multilateral solution to this crisis all right cleansers i want to put the same question to you but you've got twenty seconds each claire want to start with you is this what the beginning of a trade war looks like it's a little bit too soon to say that's definitely the major concern that this is going to escalate tensions with the united states key allies and create a major trade conflict but it's going to remain to be seen how the e.u. actually does indeed go ahead whether it puts in retaliatory tariffs tha
of the measures she made very clear will be proportionate and they will be within the deed of the w t o trade regulations there are some expectations i just talked to a lawmaker from the european parliament who said that. while if you want to call them punitive tariffs will only be hof of what the e.u. could actually do at least that is what the european parliament has recommended so there is this list of tariffs and then there are the e.u. will also trigger a dispute settlement case at the w g...