tv Business - News Deutsche Welle August 29, 2018 3:02am-3:16am CEST
biased. now it's up to canada as the u.s. and mexico agree to revised trade arrangements the other partner in the trade pact formerly known
as nafta remains tight lipped about whether it will now. also coming up plastic bags a terrible for the environment and now kenya has taken the world's toughest stance against them but up to four years prison time for using one. this is your business update on how to have free glad you could join me the u.s. says is still hopes to find common ground on trade with canada after reaching an initial agreement with mexico on to a new look now after the u.s. president is pressing canada to accept new terms for the way car imports attacks if not the president says he'd happily leave also out but that comes at
a cost mutual trade between the three nations totals more than a trillion dollars annually canadian prime minister justin trudeau said he would only sign a revamped north
american free trade agreement that is good for his country. he pledged to defend canada's dairy farmers and said progress had been made on terms for the automotive sector his negotiating team is back in washington to hammer out a deal. we are in the process of renegotiating near future with our southern neighbors and we're pushing hard to conclude an agreement that is win win with a modern and progressive agreement that is in line with our values and our ambitions and that will benefit not only canadian businesses but all canadians u.s. treasury secretary steven minutia and believes washington could strike a trade deal with our word this week was everybody said their markets are very intertwined so it's important to reach an agreement in it this is
a complicated big rayment there's lots of things in here or whole new i would think again it would be very much on board with stronger intellectual property and stronger protections modernizing the agreement so i'm hopeful that the open issues with canada can be resolved in the context without a deal u.s. president donald trump has threatened to impose tariffs on canadian made vehicles but that could weigh on the automotive sector on both sides of the border because the neighbors rely heavily on each other's components if talks with canada are not wrapped up by the end of this week trump only plans to seek approval from congress for the bilateral deal with mexico. let's get the latest from a financial correspondent stateside un school is on the story from new york and ends with her from the u.s. on this story what about canada in all of this can we expect them to acquiesce so easily. well trade representative say at least in
washington believe that canada is far more dependent on the u.s. than advise worser and to a certain degree there is some truth to that about seventy five percent of all experts from canada go south the border meaning to the united states of the trade balance between the two countries is almost even but as canada are is as small as the far smaller economy they do depend more on the u.s. and then the other way around if that will actually lead to an agreement as we've seen it with mexico on monday remains to be seen. talking trade unions the u.s. trade balance numbers are out and i don't think they like he's made the president specially happy all they. know donald trump won't be happy when he sees the figures or on the other side he might find another argument for his tougher trade
negotiations so the trade balance actually increased the deficit increased by a good six percent and reached the highest level since february but to a certain degree there is a good reason why america why the u.s. is importing much more than they're exporting because the u.s. economy is really strong at this point are we just on tuesday got new figures on consumer confidence sitting the highest mark in about eighteen years there was the strong u.s. economy it was stronger consumers was an unemployment rate at almost a fifty year old people by more consumer more so it's also the strengths of the united states so why people. buy more and import more so there is in that sense a positive reason why the deficit increased by so much financial correspondent yens kota thanks very much. adding to his criticism of the press u.s. president donald trump on tuesday said his eyes on and you enemy the internet and
social media in a series of tweets the president complained that google search results for trump news would only show the reporting of fake news media wondering if that might be illegal child went on to quote he had a very serious situation that will be addressed later trump singled out google facebook and twitter during a presentation at the white house very important yeah i think google is really taking advantage of a lot of people and i think it's a very serious thing and it's a very serious job i think what google and what others are doing if you look at what's going on at twitter. if you look at what's going on in facebook they better be careful because you're you can't do that people can't do it we have committees we have literally thousands and thousands of complaints coming in and you just can't do that so i think that google and quitter and facebook they're really
treading on very very tribal territory and they have to be careful it's not fair to large portions of the population ok. when it's on k. what steps or what kind of regulation trump is considering against social media companies now jim a foreign minister says propose an alternative international money transfer system to help circum navigate u.s. sanctions against companies doing business with iran he believes the u.s. controlled swift banking system could pose problems for companies trading with iran against u.s. wishes after nine eleven the u.s. gained access to the swift database income want to all those transactions in the past weeks many large german companies like diana and deutsche of bonn have either stopped doing business in iran or have friends sticky cheese states. and had of brakes it british prime minister teresa mayes only hunt for new markets outside of the european union including in africa on her first official visit to
the continent and in between showing her dog's moves aid to cape town they said she wanted britain to become the g. seven biggest invest in africa overtaking the us pledging around four and a half billion euros by twenty twenty two may also said britain would work with african nations to tackle insecurity and migration by creating jobs from south africa may heads to nigeria and kenya. like oh that plastic cup you sit your coffee from this morning and like a threw in the garbage it could take option four hundred years to decompose the amount of plastic waste particularly in our oceans is a growing problem many countries have taken a stance against the use of plastic bags for example but few have been as rigorous as kenya that so much as using a plastic back could see you handed prison time. the country market in western ny robie is a popular shopping venue it offers nearly everything but no plastic bags which were
banned a year ago shoppers can buy colorful reusable bags at each stand instead but they're ten times as expensive about twenty cents each that's why many people bring their own bags along they've adapted to the change but not everybody agrees with the band including martin in dinner who sells. me any effect. even though the plan is to help the environment it's bad for my business. i used to sell my yams in plastic bags so they would stay fresh longer. now they dry out quickly like you know what i get back to but jason don't think it's day and yet that. nearby there are piles of discarded plastic bags. people have simply toss them here illegally. nevertheless officials from kenya's environmental
authorities say that back ban has been a great success if your bags are being discarded in public places and fewer ending up in fisherman's nets. at the beginning it was a talent available to continue to pack things but we were able to demonstrate over time know over the months that it is possible to carry on your own business and activities without it and therefore change of behavior that really. that just means people have had to do. that has been positive. violators face a fine of thirty two thousand euros or up to four years in prison so far nobody has been jailed but around a hundred people have been fined. one of the most vocal critics of the ban is the kenya association of manufacturers chairman one hundred good guys the head of a company that makes product labels for the african market he says one hundred seventy companies producing plastic have shut down triggering the loss of sixty
thousand jobs the time frame given for those of six months while still short to make investment decisions and for people to reallocate resources and you're not given time to. investors face uncertainty and this causes tremendous aftershocks for all manufacturers when we're in a very short time span is given. despite the criticism then vironment management authority hopes that kenya sets an example for its neighbors as well as countries beyond africa. or the italian pilots union n.p.a. c has approved a collective labor agreement with ryanair off the back of an earlier deal with irish pilots last week a large majority of the more than three hundred ryanair pilots in italy approve the agreement after eight months of negotiations it ensures better job security and pay conditions strikes by ryanair pilots across europe hope that the cancellation of
hundreds of flights in the past teach us. that you're up to date with the latest from the world of business for more find us on facebook follow us on twitter at d.w. business there as well hello to see how free is like i'll be back tomorrow same time same place see it end. cut cut cut cut cut cut cut. cut cut.
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