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tv   Business - News  Deutsche Welle  July 20, 2018 3:02am-3:16am CEST

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the u.s. car industry stands up to trump's tariffs in washington. workers from america's biggest carmaker has come out in force to protest the multibillion dollar judy's saying their jobs could be on the line also coming up italy's new government is taking a tough stance on migration but we meet small business owners with migrant backgrounds who are thriving. i'm daniel winter and this is your business update there were protests in washington as the u.s. commerce department launched hearings into import duties as import duties on cars and here's why trump's tariffs don't just affect imported cars but vehicles made in the usa too because his measures put a levy on parts as well let's look at two cars honda civic an n l d q five the
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compact car today costs just over seventeen thousand dollars but see what happens when we slap on trump's judi's the price shoots up by almost one thousand seven hundred dollars the luxury s.u.v. comes off even worse a price increase of almost nine thousand either the consumer all the company will have to eat that cost of higher costs means cutbacks from the u.s. tariffs alone that could mean as much as one hundred ninety five thousand jobs lost factor in retaliation by foreign countries on an equal basis as many as six hundred twenty four thousand u.s. jobs could be slashed and today workers in the industry have made their anger clear . inevitably everyone arrived but auto pick up trucks made in the u.s. even japan's toyota belongs to the u.s. automakers alliance along with names like general motors ford and folks. all of
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them produce in the u.s. and they all oppose trump's plans if we put very very high taxes on cars in the united states and keep in mind since it's both auto imports and auto parts imports every single car or truck sold in america would face price increases higher taxes higher taxes will lead to fewer sales fewer sales will lead to less production less productions will risk american jobs in the hundreds of thousands of job say the protesters who also claim auto prices would rise by an average five thousand dollars we're very concerned about the security of our jobs and the fact that these vehicles are claim that there are calls on national security issues here that refers to trump's claim that national security is at risk if tariffs on to impose donnel tows on components. this is not good business this is not good for our economy this is not good for the very workers who in fact voted for him so far
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there's been no word on when washington actually intends to put the threatened tariffs into effect. for more on this i spoke to our correspondent alex wonderful naaman in washington against culture in new york i started off by asking if the u.s. department of commerce could have some troubles finding someone who actually supported the. yes you're right. old but one of forty five witnesses scheduled to testify today are expected to testify against plan to impose tariffs on imported cars and car plants only one representative on a labor union of fifty united automobile workers expressed today a sort of measure and supports saying that decades of disinvestment and all showering of you as jobs by multi-nation oil companies has weakened you and economic security as a nation but old al gore witnesses i was listening to were quite sure they once did
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the consequences of such terrorists would be on the floor scene and this stressed that the you ask car industry is thriving so there is no case here no threat to u.s. national security ok so let's cross over to new york now yes we heard about consumers and employees already but what will be the effect on companies themselves well quite simply the margins in the u.s. car industry are actually that's true for the car industry globally are not very high so meaning if costs increase of it might lead to price increases and therefore eventually lead to fewer sales so take the toyota camry for example that it's built here in the united states about a third of the auto parts are coming from overseas so those would become more expensive then we might see originally and tory measures from other countries so that could hurt them exports of for the you. build cars and so you would could
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see lower sales some higher costs and it's not just we're talking about those auto tariffs so we also see a tariffs already on the medium and on steel so that also makes production here in the u.s. more expensive ok looking at the macro perspective how seriously should we take this just how critical all call make is to the u.s. economy. the u.s. car industry is quite crucial to the u.s. economy if you just take the direct effect to a good three and a half percent actually of overall gross domestic product comes from the u.s. car industry the industry employs about one point seven million people here in the united states so this is just the direct effect but then take a b.m.w. for example the biggest exporter of cars outside of the united states exported more cars than general motors for instance and they have their big factories and spartanburg in south carolina and the port authority from south carolina they're
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already warning that if those terra tariffs should come in place that could certainly also hurt the business of those ports all of the impacts will be far fetched ok let's briefly quote cross back to washington alexandra what is the likelihood that the trumpet ministration could heed the warnings from the column makers from the e.u. and back down. the u.s. secretary of commerce said today that no decision has been made yet and as we said there is a growing opposition to trump's plans and there are more and more republican lawmakers threatening that they are going to block such cherif space on security on national security grounds and there is there are some hoping that the european union will come up with a compromise but for the moment we have to say that the president is determined to impose these tariffs tracking that story for us alexandra phenomena in washington
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thank you very much. to another kind of transport malaysian budget airline asia has ordered passenger jets was a thirty eight billion dollars from european manufacturer air bus the first delivery of the one hundred eighty three thirty media long haul play expected to arrive towards the end of next year asia wants to use some of the act craft to break into the european market the fleet will allow the airline to take on longer nonstop into the continent it's likely to kick off with the service still on. the first of new striking beluga x l f freighters took to the skies from toulouse on those de blas employees chose the special livery which makes it look like take friendly the new way of the aircraft and carry payloads of up to fifty one tons equal to more than five london double decker buses the blue the fleet carries the sections of cross from production sites final assembly lines in europe.
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italy's new government has promised to be tough on illegal and uncontrolled immigration but some legal and well integrated immigrants are watching closely to see if that sentiment spills over to reach even them the city about kimo is a stronghold of the north be the party known for its anti immigration policies but that too we found some small business owners with migrant backgrounds who all thriving. francesco wu is meeting a client who's looking to market his equipment in asia. he needs help. was born in china his family moved to milan when he was eight years old but that doesn't stop people from making assumptions about him. so no doubt i mean engineer i studied in milan i've spoken to talian for more than twenty years but when i meet people they always perceive me first as chinese then as an engineer like. northern italy which has
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a robust economy is also home to the far right party called the league there's oenophile but party has a large presence in the area smaller towns francesco wu is all too aware of their views who is also a restauranteur when he moved to a milan suburb his looks became an issue. in the beginning italian customers would come in and see my italian staff but when they realized the management was chinese i think that made it really hard at first that it took him four years to overcome the doubts and develop a devoted clientele. it's a similar story in bag imo a popular tourist destination and another league stronghold and have take runs the only african restaurant here that makes them rather exotic although he and his wife haven't had to deal with open discrimination things aren't exactly ideal for them.
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if the situation here is indeed easy in the quest that i'd most likely have more than one restaurant in other cities that are but when customers show up i can see they're suspicious that the people from this region are skeptical unlike guests from rome or on who are more used to the african cuisine still and i met his wife have also developed a regular clientele and feel more or less at home and back imo although wary about the new populist government he tries to remain optimistic but i found quite a lot and thought it better it's just too early to judge the new government. because i've got it but it's clear there's a real risk of things getting more difficult says in all areas. into the city. on the streets of baghdad many italians support the government's tough stance on immigration now they want to see the same approach with the economy. and that wraps
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up your business update for today don't forget to check us out on social media facebook and twitter just such for d.w. business i'll be back with even more tomorrow same time same place i hope to see the. plague.
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