Transcripts For DW Business - News 20180601 : vimarsana.com

DW Business - News June 1, 2018

Farming magazine. On d. W. Moving off to fighting potentates to be taken seriously in the world of work heres whats coming up womens talk. Superhero. Sports tours smart state religion break recently dangerous time for job for mom. At the. U. S. Tariffs on european metal are in place we ask can americas love affair for a highly engineered german cost survive washingtons new round of tariffs on imported steel also coming up u. S. Soybean pharmacist via a worsening in u. S. China trade relations but will their worries be heard in washington. Welcome to the business of so far we have u. S. Tariffs on european steel and alan many on but u. S. President donald trump could go even further and slap tariffs on german cars media reports suggest he may even want to ban german luxury car. Its because he says there are too many of them on the roads of america and too little u. S. Cars in germany but are you as motorists interested in switching from b. M. W. To fort. Richardson gauge the mood on the streets in the u. S. Capital. Luxury german cars are a common sight on the streets of washington d. C. And the idea of blocking their import isnt so popular. People want to buy german cars they should be able to buy german cars if not they want to buy american cars they should buy american cars and should buy whatever they want i think theyre good quality cars. A little more expensive maybe an american course but probably. Going to be better but maybe maybe a little bit because i think i may view of american cars that they fall apart pretty quickly and german cars dont they tend to be nicer than i because merican cars i think the engineering tends to be superior again impressions donald trump thinks there are too many of them in the u. S. Even though german carmakers also run Assembly Operations that all together provide tens of thousands of jobs for American Workers but the u. S. President still sees the business relationship as an unfair one way street in twenty seventeen german automakers exported more than six hundred fifty thousand cars to north america but many also have huge factories in the United States that employ more than one hundred thousand people in fact they build more than eight hundred thousand cars on u. S. Soil last year alone. That means a ban on imports not only would fuel the tensions driving trade policy between the u. S. And europe it would also have major consequences for american jobs frank spots and the president of the American Chamber of commerce in germany joins us now from cologne so very good to have you with us so first of all do you think that those tariffs are justified. Well the fact that these types of come is certainly not a surprise but it is very disappointing i. Dont think that between trading partners like the even the us tariffs of this type would ever be justified in the view of the American Chamber as well as the view of basically everyone in europe the terrorists are a violation of the w t o regulations and we see that in itself as a major issue so if theres a wide consensus that this should have been prevented by all those talks that took place until basically yesterday who dropped the ball. Its not so much a question of dropping the ball of a but of trying to gain an understanding of how we can help resolve the issues that are out there one can argue the President Trump is on to something when he says the trade agreements that are from the ninetys need to be looked at and monetize naftas from the ninetys the w t o agreements are from the ninetys i think it is right that we look at something that existed or was made at a time when there was no internet basically and at a time when people thought japan would be the Major Economic partner in asia thats all good and well but what we cant do is to start imposing tariffs instead of getting down to discussing what really are the issues theres an overcapacity of aluminum and steel in the market for the most part is caused by china i dont see how that could justify imposing tariffs on a what are the us as staunchest allies and in fact using the justification of National Security to do so thats very puzzling and disappointing so even in that point that trait needs to be looked at again and renewed there is consensus that the french president manuel mccaw for example in paris just two days ago pointed in exactly that direction so there must be Something Else to it what does the u. S. Want that the e. U. Is not a was not willing to give. Well a President Trump seems to to equate a trade in balance with the with the fact than that that means that something is unfair and unfairly tilted against the u. S. Interesting lee enough if you look at the actual trade statistics yes on goods the u. S. Does have a trade imbalance with with europe a trade deficit but if you look at services the u. S. Actually with Companies Like amazon Facebook Netflix and all of them actually has a large surplus and then when you account for the net income of Companies Like my company u. P. S. Working here in germany the total profits of those companies are well over one hundred billion dollars fine excess of what German Companies are in in the u. S. When you take that all into account there actually is substantially a very balanced picture here and if i can take another second to point out the promise not so much these tariffs the problem is the fact that Business Needs predictability and reliability and our recent american cheema Business Barometer many most German Companies most of our members were very very excited about the prospect of doing business in the u. S. And rated the u. S. Highly on almost every element to that were of concern were exactly those two elements this uncertainty is not good for anyone and just very very briefly on a personal level as the president of the American Chamber of commerce here in germany do you still enjoy your job right now wow what a question quite honestly i took on this job one month ago basically i think two days before we have the first sword hanging over our head of the tariffs its been an exciting time i guess yes i relish the challenge and ive certainly got a big one here all right well best of luck certainly and thank you so much for joining us and d. W. Franks part to larry president of the American Chamber of commerce here in germany thank you for having me. Meanwhile china is trying to negotiate its way out of the threat of higher terrorist for a wide range of Products Holding out the threat of counter tariffs on products from the United States including soybeans but American Farmers say their business with china is simply too big to fail so the comes out of the the sea and puts on the lateral. Roots first fred davis is proud of the soybeans he crows on his farm in ohio its been a Good Business a high demand has made so ive been small profitable then other crops so the soybean is raised for the protein side and then when its crushed is what they call it when its manufactured. It has. The. Oil that comes out of it which we can use for it mcdonalds for frying french fries or we actually run our tractors on it because we use biodiesel. Soybeans corn wheat threats davis manages his farm together with his stepson and like many farmers here he relies on foreign markets for his business china buys roughly sixty percent of all u. S. Soybean exports therefore davis says hes worried about the trade dispute with china. And thats what hurts is the American Farmer because weve developed the. Trade with china that its taking the three twenty years to build because actually twenty years ago they exported soybeans and now theyre our largest customer the import soybeans they import about fourteen billion dollars worth of floyd beans a year. Falling prices eroding market share is sometimes a rumor its enough says gray today that he wants president s trump to negotiate with china to protect u. S. Intellectual property and manufacturing interests but more than anything he wants to keep his farm its already affected farmers around here theres a lot of smaller farmers that you know work in town but yet farmed on the side that its got to the point where they cant make a living on it and theyve got all the sixpence parade putting that crop out and theyre not getting their return on the dollar so theres been a lot of small farm sales already. Many farmers here in rural midwest voted for trump in twenty sixteen he thinks outside of the box perhaps david sounds just like us now they hope he will really reach a deal with china knowing that the consequences of a trade war would be devastating Ratings Agency standard and poors downgraded the credit status of Deutsche Bank this after the federal Deposit Insurance Corporation a u. S. Agency charged with maintaining stability in the Banking System has named to the banks u. S. Business trouble it is another blow to germanys biggest lender whose new c. E. O. Just announced restructuring plans to put back on track. The news had Deutsche Bank shares plummeting to an historic low on thursday with the wall street journal reporting that u. S. Institutions had lost trust in the bank about a year ago the Federal Reserve labeled the banks u. S. Business as troubled thats now led the United States deposit insurer f. D. I. C to add Deutsche Bank to its list of problem banks the list specifies those institutions with weaknesses that endangered their financial viability. The new bloke comes in the middle of restructuring efforts Deutsche Banks new c. E. O. Christianes evening wants to bring it safely back into the black again after three consecutive years with losses and thats no small undertaking Deutsche Bank shares have tumbled by more than forty percent since the start of this year. And that brings you up to date on all the latest business here on d w you can always find out more if you follow us on twitter or check out our website i see you soon. We were out all fired. Take football personally. Or you know whether. Im not the addition of all you smoke our preview this week a group. Will jimmy have reason and the way to get a. New team is eager to win the title for germany once again but first they have to get past these guys. More intriguing. The International Talk show for journalists to discuss the topic of the week twenty five years ago a racist on some attack on the house of a turkish family in the german city of zola a gun left two women and three girls dead and fourteen others injured the question is does germany change since then find out shortly on poetry. Quadriga in sixty minutes on. Entered the conflict zone confronting the powerful lobby challenging those in power asking tough questions demanding answers. As complex intensify ill be meeting with key players on the ground in the senses of our cousins through the rhetoric holding the possible results of the conflict. Conflicts on confronting the powerful on t. W. What does a football loving country need to reach its goals. Well tell you how to german soccer made it back to the top. In our web special on the dot com. Football made in germany. Theres a lot to get through im going to be a. German fans who come to. The swedish suppose its. All mexicans. Who live here in russia and todays kick off world cup come down

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