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tv   Business - News  Deutsche Welle  July 3, 2018 3:02am-3:16am CEST

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can the e.u. and the u.s. work out their trade differences u.s. president donald trump has announced an upcoming meeting meant to do just that but investors have reason to be skeptical. also on the show to. steal confirmed their european merger to fight the steel crisis but will antitrust authorities let them cut thousands of jobs. and india is in the middle of a heat wave and ice makers are having a day. for business on the w m how you know it's good to have you with us donald trump has announced a meeting between u.s. officials and their e.u. counterparts to discuss the ongoing trade tariff spat saying the european union wanted to quote work something out that's after the e.u. renewed its a vow to fight back against the u.s. president's threat to impose a twenty percent tariff on car imports in a letter sent to washington the european commission also claimed the move could
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cost the united states up to fourteen billion dollars in gross domestic product the u.s. currently imposes a two point five percent tariff on passenger car imports from the e.u. automakers in both europe and the united states have warned that higher levies could harm business or it let's discuss this with our financial correspondent at the new york stock exchange and it's good to see you so far the markets have been quite cool about this ongoing tariff dispute but we know that if this goes on to cars it could be a full on trade war what will actually witness here so is that a turning point potentially for investors. the car industry certainly would be the big one more than four million. people are employed in the broader car industry and that would certainly hurt the labor market in old saw some of those companies involved and make chili
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a lot of people already start talking about that it's that the trade war has started we will have a crucial moment on friday when china actually might impose import tariff especially aiming at u.s. car imports in the amount of twenty five percent so yes the trade war seems to be already here but well we still have hope that maybe the car industry can be avoided now let's talk about the companies that are being hit with these terrorists we've seen everything from catch up into motorbikes how are companies dealing with these tariffs. basically you have two options you can either higher costs up or you can try and increase prices or maybe a third option might be to do something in the middle but we already heard from some companies from the beer producers for example that there are likely to increase prices we've seen something similar from campbell's soup with the higher
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tariffs on steel and now if you also look at catch up and other goods for example they don't have to necessarily high margins so it is pretty likely that consumer prices will increase not just in the u.s. but probably all over the world as still for a surprise us thank you very much scott at the new york stock exchange. they're calling it mexico's first electoral landslide sunday's election was a historic one and will give president elect and his men well unprecedented power to make sweeping anomic changes but like his u.s. counterpart donald trump his political agenda can change wildly from one speech to another so we are taking a look at what could be ahead for mexico. the economy was at the core of an dress manual lopez obrador as campaign his strategy from mexico follows three main strands. mexico is one of the largest producers of oil in the
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world the black stuff accounts for about a third of government income obrador has long criticize the opening up of oil production to private investors but he's pledged to continue the sell off if there's no corruption present in the deals he also says he'll freeze energy and petrol prices. the president elect also pledged to tackle corruption he says he'll stand up for the average hard working mexican who is being robbed by corruption robert all will hand out more benefits while keeping taxes where they are he says a fighting graft will help pay for these handouts anticorruption drives could help add a coyote uncertainty for international investors. keeping trade relations with the united states stable is crucial to the mexican economy the u.s. board well over three hundred billion dollars of mexican goods and services last year but an ongoing spat over the north american free trade agreement has put back
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relationship at risk another challenge for the president elect so far donald trump has been welcoming but whether the two plain speaking leaders can maintain a positive relationship remains to be seen. despite his left wing populist rhetoric obrador has been keen throughout the election campaign to show that mexico will remain open for business. a potential new metals giant is trying to fend of a crisis in the steel sector germany citizen corp and india's tata are merging their european steelmaking operations after two years of talks that's of course of at the top of forty's approve of the deal which will lead to job cuts. the joint venture comes in response to the problem of overcapacity on the global steel market as the new firm which will be known as to some crap tata steel will become europe's second largest steelmaker. if this is really the key issue to move successfully for the global exist up as if he had also cost tremendous
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additional imports into europe imports into your about an all time high level which if you're decently increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. this was not a merger but almost too big names in european retail are teaming up britain's tesco and francis ford will work together to boost competitiveness and offer customers lower prices it's a move to deal with increasing pressure from competitors. they're calling it a long term strategic alliance european food retailing giant tesco and car for are
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hoping that teaming up will help increase their profit margins one of their main objectives is to get better deals from suppliers and they bring them to offer customers lower prices and move unless they believe smaller chains and a further disadvantage. if the major players are finding it difficult there and they're all moving into alliances or mergers and diversification just to russia trying to stay afloat is going to tells you how bad things are going to be for the smaller. supermarket chains here in the u.k. . the european alliance comes as retailers face increasing competition from online chains like amazon. discount supermarkets like germany's legal are also putting pressure on rivals to lower prices. to australia know the country that has introduced a plastic band in four states during this weekend well nature should be happy some
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customers aren't angry and even violent scenes unfolded as customers refuse to pay for their backs but luckily not everyone is suffering from the so called bank which . for years the strains have taken them for granted now shoppers in sydney and elsewhere are facing a choice pay for a plastic bag or get your hands on an environmentally friendly cloth carrier for some it's been a pain free switch. so i've been using them for a while and i'm quite happy to see others are less enthusiastic. it seems like this the ban on plastic carriers is intended to address cleanup workers recency collected eight hundred kilograms of plastic waste in a single day this speech on the astray in territory of christmas island in the weeks leading up to the ban coming into effect environmentalist expressed hope that the policy would increase awareness among consumers. so i think that people need to
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really understand that and. so much time in the environment and when they see an image of an animal that suggested debris or plastic so. it really connects. every day with far reaching impacts in environment with reports of furious astray and customers dominating the headlines self-serving till's like these might prove a relief to stuff given an appropriate amount of time the reason may even win over the hearts and minds of shoppers too. india is in the grip of a heat wave the government takes the threat seriously as many people die from heat related illnesses it suggests taking quote common sense precautions using outdoor posters as well as social media platforms and some companies offer a vital service with their cool and i see businesses like this one. keeping people cool and delis baking heat is hard work just ask one of the b.p.
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workers outside the city rushing to meet increasing demand from the markets restaurants and small shops serving twenty million inhabitants. a lot of good in ok some will buy fifty blocks there to get some more by ten or twenty five. when they go everywhere and they're sold in different quantities we sell them to the distributors and they sell them. at their table that got the order given about it. the process is anything but high tech the workers fill up large containers with filtered water once sealed the boxes are placed into large tanks covered with salt water for twenty four hours the brian has a lower freezing point than ordinary water chilled with ammonia. each ice block weighs around fifty five kilograms and costs one hundred thirty rupees or almost two dollars refrigerated trucks take tons of ice each day from here to delhi where
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the ice gets crushed and sold in banks and then scooped into the drinks of thirsty indians. that's all for business.
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