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tv   Business - News  Deutsche Welle  March 23, 2018 12:15pm-12:31pm CET

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has his sights set on a fifth to drive this talk of the season red bull on the diplomats was his skills his challenge ahead of saturday's qualifying. you're watching news coming to you live from blood in crystal skull but it's sounding. on the tallis and the looming trade war between china and the united states to stay with us but that's if you're watching the news. cuts. like you're smart t.v. smarter with the g.w. bush wanted. what you want when you want it up to date extraordinary. you decide what's all fun no more that dot com smart t.v. . they make
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a commitment. they find. a stronger. africa. story about people making a difference shaping their nation. and their continent. multimedia series for africa. dot com africa on the most. of the. united states. long trade dispute with china the u.s. president says he is protecting american security and jobs of the markets all more convinced than he's ever starting. to do business on crystal president the. and who takes pride in soaring stocks is
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rattling the markets global shares plummet as the united states in ounce a hike in import tariffs for china a key supplier to its massive consumer oriented market fears are increasing the donald trump is rushing headlong into a trade war with the world's economic powerhouse in asia china has already threatened to retaliate if the united states does not back down. now after an election campaign where he pledged to address china's seventy three hundred seventy billion dollars trade surplus with the united states donald trump ordered an investigation of chinese business last year is survey among u.s. companies revealed four main gripes first they claim chinese firms require foreign companies to form partnerships in china then steal technology and close down the joint venture second chinese companies allegedly buying into u.s. companies are subsidized by beijing with the aim of having access to leading edge
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technology another frequent complaint chinese hacking of u.s. commercial networks to spy on key companies and finally companies with operations in china don't have the same rights as their chinese counterparts earlier i spoke to. the director of the evos center for international economics and i asked him if the trade war that many have been fearing is now here. well the trade war between the e.u. and the united states has not arrived of course but we see tensions between china and the us rising and europe finds itself in the middle of this struggle right and what does it mean to us i mean we have china and the u.s. the number two and the number one of the world economies going head to head here well that creates uncertainties uncertainties are bad for business we've seen that in the stock exchange reactions this morning already in asia so it's not good for business on top of that there is one hundred thirty other countries around the
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members of the delegates you know not china not the you not the united states and those are the victims probably of the arrangements in what sense in what sense well you see the e.u. has sent its its its trade commission that's a washington picked out while the chairman congressman is there was there the result is that the u.s. acceptance barked the tears that many feel are against the would you along those terms will be in place but they will be put in place against other the if it's your members japan for example and many small and poor countries that cannot defend themselves against that trade policy that trump makes what does a trade dispute between china and the united states you say we're sort of caught up in the middle here what does it mean to us as consumers well there's no immediate effect on. prices for example in europe or all of the variety of goods that we can import from china and then i states which will be of course banned for consumers workers businesses in europe is this increased uncertainty in two of the biggest
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economies in the world start fighting them each other in a trade war that will leave collateral damage and that will come back also in europe and damage the the growth perspective here now one of the reasons for these terrorists that the u.s. is slapping on trying to now is the three hundred fifty billion dollars trade deficit and let's take a look at that now that has been steadily increasing as your. imports from china soared with its membership to the world trade organization in two thousand and one but exports to china grew much much slower we see the chart right there where there are no attempts to stop this trend and if there were why did they fail so it's not easy to stop those trends because it is the of course millions of decisions of consumers of companies to buy or not buy goods from china that form the aggregate picture and so there's not much you can do and it's very open actually whether imposing terriers can change that because the underlying problem that causes this
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big deficit of the united states is the fact that the americans are consuming more than they produce and consumer based economy it's the consumer based economy and the big huge privilege that the americans have is that they can afford this type of behavior if another country take this role you know emerging markets summer ages that runs for forty years in trade deficit like the americans did you know they will probably face very stiff you consequences on financial markets the americans don't and in that sense they have the power and all of that privilege to a choice the fact that they consume that they can cause you more than the produce now but if we're seeing heated rhetoric on both sides now china saying they're ready for retaliate is there a way out of this well the way out of it would be negotiations because at the end we know very well from historical episodes that there will be losers on both sides america cannot really win this conflict and in that sense there is no substitute to
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trade talks and both sides that fate barriers and both sides would win if they would sit down and try to tackle those various and very briefly if you can the european union and several other countries are being exempted from french tears on metals china is not just do you see the european market now being flooded with cheap chinese steel well that is of course if you are of many steel produces in. europe we will see how that builds up the fact is that china is not in major exporter of steel these days tonight states only three percent of you are still consumption constant china so i don't expect mass effect but i have to watch the situation director of the evil center for international economics thank you for your insight thanks for having. let's get the latest now with our correspondent linda hong in singapore linda china says it will fight to the end if u.s. president donald trump follows through on his terror threat what does that mean
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well time actually has plenty of measures as well to fight back against the u.s. such as in the areas of automobile automobile imports. as well as chips and don't forget now china is actually the manufacturing base for major u.s. companies like apple as well as intel and one area that u.s. has streets of boston and that in agriculture and the presidency thinking from china can has already launched a probe into a u.s. exports of some of the hurting so i have been those target an odd across could hurt mr trump's support in some politically important farming areas and i'm tired can also have other weapons as well to such as non-tariff obstacles like safety inspection stealing cable essential goods to enter the country and it's also an under way to approach often used to advance their geopolitical goals in asia. so the reals are certainly in motion there and other white house has instituted a waiting period on implementation of these terrorists how likely is it that there
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can be a way out of a deal after all. well we've actually seen one of the major complaints about the traits of class is actually the u.n. being very law and so one of the ways that perhaps you can be a way out is the u.n. strengthening and one of these ways could be when the new china central government bank central bank governor comes in and takes over and he's actually been in charge of the twenty fifteen devaluation of the u.n. so maybe he might be able to have some policies in order to change and turn the way around that christopher's linda briefly what's been the word among the business leaders in china on all of this. well with actually looking at you know patriotic and as well as china has always been that they have been playing fair and they are actually waiting and look and see and they have also many tools to fight
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back that also other countries to work with for instance one belt one row initiative so china has many other countries that once do business with and u.s. is not the only one and perhaps if the u.s. doesn't want to do business with them they can always go into business with some other countries. singapore thank you. now the european union has among other countries been temporarily exempted from new year as terrorism levels but still makers of the workers still have pressing concerns our reporter went to one of the german steel giants to some clubs for better sides to gauge the mood. it's the early shift it to some krips steel works and there's just one topic of conversation for those clocking in the preliminary agreement about the u.s. steel tariffs. what we call we don't really believe it we know donald trump always goes back and forth with things. it's not
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a real agreement because the largest steel producers have been excluded and of course it's only valid until the beginning of may so nothing such as stone is on for size is becoming one of those kind of if she gets not a problem settlement is donald trump has clearly had so much pressure from within his own country for trouble from the federal reserve banks and the u.s. economy but a commission here chaffed. exports around four billion euros worth of products to the u.s. every year industrial facilities machines and steel high quality high tech steel. the german state association has welcomed to the agreement with the u.s. government but it says the e.u. is far from being in the clear the u.s. will still be sealed off for many of the steel exporting nations from eastern europe and asia their exports may well end up on e.u. markets. we believe that that could mean around thirteen million tons is being diverted to a. form that's an import increase of fourteen percent which would completely swamp
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european steel markets some place considerable pressure on companies to adapt. that donald trump still dispute has changed the way many workers at towson crip see the us and has done a lot of damage at least as far as trust is concerned. for the. whole for more including the latest developments in global trade do check out our social media feeds our website that's d.w. dot com slash business for me and the entire team here in berlin thanks for watching on the back of a fresh update here. try
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