President donald trump implies his country wont introduce new tariffs on chinese goods this sunday but is the u. S. China trade dispute any nearer to being resolved to talk to our financial correspondent in france and. I want to get in this is a business live from berlin welcome. So far as john says conservatives have won a crushing majority of seats in the u. K. General election paving the way for the country to leave the European Union on january the 31st in an Election Campaign that was dominated by the brics a question johnsons vow to leave the e. U. Under the terms of the withdrawal bill already negotiated with the e. U. Struck a chord with. The conservatives are expected to finish with a house of commons majority of more than 70 seats after the labor party suffered huge losses across the country. And the british pound has dramatically surged in value overnight. With investors clearly she is by the clear Election Results after an exit poll released on thursday night projected a clear conservative win was coming the currency climbed almost 3 percent to one u. S. Dollar 35 cents its highest level since may 2800. 00 pound also reached its highest rate against the euro in 3 years hitting one euro and 20 since many investors have said it a tory win removes uncertainty over the dates of the u. K. s brics it makes it all exit date. For some of alison what the u. K. Election results means for investors im joined now by customs esky chief economist at i n g germany good morning to you so weve seen that the british pound has surged does this reflect the mood among european investors and business to. Europe investors are a bit more cautious to be honest i think yes the pound has served for this more because there is clarity and investors like clarity but on the other hand i think if investors take a bit more of a longer term view then they will also realize that actually not nothing is really clear there it might be clear that we will get the the breeder the brakes a treaty approved by British Parliament but then the u. K. Would still and to the transition period and would still have to negotiate the future trade agreement with the e. U. And we know from experience that the negotiating a new trade trade agreement will last sometimes years sometimes even decades so this im certain it will clearly come back yeah exactly the trip transition period right now as it stands would be 11 months from the moment britain leaves the European Union on the 31st of january 11 months is a very short time but of course its in the interest of both the e. U. And the u. K. To reach a proper deal. Yes it is in the interest of both of the question is how the u. K. And now with a with a Strong Majority for Boris Johnson will actually play these negotiations so i would expect that these negotiations will be even tougher than the negotiations on the brics a trade deal that the brother breaks a treaty and remember this all or already took 2 years to really get to a deal which was not really its a embraced by all from both sides on the e. U. And the u. K. On a trade deal also dont forget that the trade deal will have to be passed by all National European parliament in the end so i think really end of 2020 is completely unrealistic the e. U. Has already offered it might be extended to 2022 even this is still a very its a very ambitious deadline to really get this trade deal done so what are the main sticking points then to be covered in those 11 months. For 1st of all really how will the future look afterward so how do we deal with the european standards how will the u. K. Actually deal with agriculture what will the Financial Services do because its obvious that the u. K. Government will probably push towards a very special position of the city of off london in with Financial Services or industrial goods Automotive Industry so how will we how will they find the tariff agreements there will so these are all open questions and you know just just look at how long it took actually for the e. U. And canada to agree on a under Free Trade Agreement how long did it take the e. U. And japan to agree on the on these trade agreements so this will really take a long while so will close the 2 bricks its but we dont really know what happens after thats gas jet ski their chief economist at germany thank you so much for your time. Of the british industry will keep a particularly close eye on developments in the coming months with 80 percent of britains exports currently going to the e. U. A lot depends on what kind of post breaks its trade deal the u. K. And e. U. Can hammer out during that transition period so for many it is time to look for a plan b. To keep the business going. When it comes to the topic of breakfast Gregory Mcdonald tends not to see eye to eye with his employees. Hes the managing director of car parts supplier good fish most of the workers in the group conoco plant around an hours drive outside of birmingham voted to leave the European Union. The company employs some 130 people in 3 plants the plastic parts they produce are sold to german japanese and american car makers. For many the ongoing uncertainty surrounding breakfast is an increasing source of concern. All business depends on what they decide will happen as a result of drugs and they dont know themselves yet but of course weve seen some japanese like decided to close down there lots of all the polls and the what i know about the closing or drinking a 3rd of what the company produces goes to the e. U. And its in the block mcdonald sees the companys future now there are fears one of the companys 3 plants in britain may have to shut down. One man keeping a close eye on developments is paul mauer huff hes from the society of motion manufacturers and traders a Car Lobby Group he says bracks it could cause the british Automotive Industry to fall behind in terms of technology weve seen investment in the car industry plummet in the 1st 6 months of fish here to about 90000000 from an annual run right about 2 and a half 1000000000 sorry to syria. And so on top of our Company Spending at least half a 1000000000 pounds on no deal continuously measures and this is money that we got to spend on the Start Development and innovating electrician the good fish group has seen sales pull 25 percent this year. After a 15 percent decline in 2018 the boss says brant that is not the only reason his plans for the future still involve the e. U. But were planning to open a plant in slovakia and. We have looked at several sites and interviewed a team of people whod like to work with us. As soon as we know what we need to make or what our customers would like us to make for them outside of briggs that will open up in slovakia and stop person from buttons hes also looking for more clients outside of the automotive sector for him the priority is to make sure the british plants have enough business to keep them going for years to come. And stocks soared all over asia this morning in tokyo the nikkei index jumped more than 2. 4 percent while in hong kong a hung saying index surged on reports that china and the u. S. Have reached a trade agreement boarding to media reports the u. S. Will cancel new terrorists at the weekend and roll back previous measures china will ramp up its purchases of u. S. Goods. As interesting as bring in our financial correspondent chelsea dear lady in frankfurt for more chelsea again a tweet by donald trump moves the markets is the optimism justified this time. Well in addition to the tweet there have also been several as you mentioned media reports confirming the story but there are a lot of reasons to remain skeptical at this point in the past weve seen this happen several times where the u. S. Has announced that theyre getting very close to a deal only for it to fall apart quite quickly theres also still no text of this deal u. S. And china officials have not confirmed it so theres really nothing on paper and i think after all of this back and forth investors and traders watchers are going to want to see. Some words on paper to confirm that this is actually happening theres also a lot of uncertainty over some of the details of this report such as chinas commitment to buy 50000000000. 00 worth of agricultural goods china has really pushed back on that in the past and its not clear if they can even do that so i think theres still a lot of uncertainty over this deal even though the dues appear to be getting close to canceling some of the tariffs is set to go into effect on sunday with all those uncertainty that you just mentioned why we why even reading this kind of optimism. The u. S. Has been under a lot of pressure to strike this deal at china as well the tariffs that are such a go into effect on sunday we are supposed to really hit a broad range of American Goods and things Like Computers and toys so it would really have a big impact both on china and the u. S. Weve already seen a pretty. Difficult Economic Impact of this and for President Trump hes heading into an Election Year so he really wants to have a trade deal that he can sort of tout on on the campaign trail next year Chelsea Delaney there reporting from trying to thank you so much. And as you some of the other Global Business stories making news. E. U. Member states have given the green light to a new climate a deal to make the e. U. Call been neutral by 2050 states voting in favor with the exception of poland which has until june to decide holden still relies heavily on coal as an energy source. E. U. Leaders have agreed to extend sanctions against russia for its role in ukraine the sanctions were 1st adopted in july 24th teen following russias annexation of ukraines Crimean Peninsula and its support for pro moscow separatists in the east of the country the sanctions are reviewed every 6 months. Vodafone germany says excluding she away from its 5 g. Network could delay the rollout of the next generation take up to 5 years the message comes amid continued debate about what role the Chinese Companies should play in the country and wednesday Spains Telefonica stated it wanted to work with both nokia im sure way to build up a 5 g. In germany move would require the approval of the German Government which has not yet finalized its position on showing. And as a Business Update here and at this hour for me in the team thanks for giving us company. What secrets lie behind will. Discover new adventures in 360. And explore fascinating World Heritage sites. W. World heritage 360 get nap now. Was the speech of his life perhaps his best certainly his most difficult chancellor and much cooler addresses the people of east germany shortly after the fall of the wall. The crowd clamors for germany unity journalist peter lim borg was at the scene. 30 years later he looks back on the tightrope president. Starts december 19th. W. The from. A low im welcome to culture news the film my cohost same for safety is my guest in the studio to talk about his wonderful film tomorrow we all 3 also coming up. Iconic photographs rendered in childrens play dough is a british artist speciality. And has an Italian Garden a clearing some ivy found a good stuff klim masterpiece hidden in a war of the gallery from where it was stolen over 20 years ago will have more on the hands. But its we begin with the film tomorrow we are free which is a love story set around the time of the iranian revolution and 979. 00 its also the story of a clash of cultures a german woman married to an iranian man and a young daughter in the middle of it all the man is driven by the desire to create a free and equal society after the fall of the shah but of course its not that simple. This film is a labor of love the story behind it has much to do with the filmmakers own life. Same process a few took 10 years to make his movie tomorrow we are free it says feature film debut as a director and he also wrote the story of the film is set in 1979 and tells the story of the married couple beata and shes a camera
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