They want to go to france, they want to go to germany, they want to go to these countries where they came from. That is their home. The u. S. Is not their home. It is not fair we are holding these people and that other countries are not taking them because we are bearing the cost. I think nato should be expanded and we should include the middle east, absolutely. We paper a big percent of nato. We pay for a big percent of nato. If you speak to the secretarygeneral, who is doing a terrific job, he will tell you i raised 130 billion more. It was going down from past administrations every single year. It was down to a low number. I came in and said you have to pay, we are protecting you, we are a part of this. We do not want to be the fools like we have been. We raised 130 million. We had a meeting with the countries. I said you have to pay. I can imagine they do not like me as much as obama and other people. More. E 130 billion my biggest fan in the world is secretarygeneral stoltenberg b
Latest on the scuffles between the u. S. And china over that phase one trade deal thursday china announced a new list of import tariff exemptions for 6 chemical oil products from the United States these exemptions will last for one year kicking off december 26th though Chinas Finance Ministry as not provided a value for the imports excluded from those tariffs what we do know is that the waivers will apply to 4 Chemical Products including Refined Oil Products that include white oreo and food grade petroleum well meanwhile there has been a lot of talk about how this phase one agreement will be such a big win for workers that is the narrative that we on this show have been challenging in fact on the day that the u. S. Seems see a agreement was announced every other business show was praising this as a huge win for the u. S. But heres what we told you. So what is significant about the labor part of the deal wall mung other things this agreement requires that 75 percent of automobile compon
But this is a boom box broadcasting around the globe uncovering the world of business and finance and the impact on us all ive been flung and im kristie im watching 10 parents what we have in store for us today for us and see it moving forward but the head of the biggest auto union in the nation is asking questions that this show raised a week ago well tell you what you say and why it matters so much less than the bank of england act that might provide traders with an unfair advantage thanks to an open audio feed and News Conference that one thing done to fix that problem weve got a live interview straight ahead and then later another huge hit for hoover as the company has now been banned in germany why this is the right here in company is just another example of how theyre coming under so much fire across europe this is the one show you cant afford to miss so lets get started. And we begin with the latest on the scuffles between the u. S. And china over that phase one trade deal thurs
Business live from berlin welcome and were starting with an interesting Monetary Policy decisions weve been central bank has raised its key Interest Rate by 25 basis points to 0 percent now this is significant because it makes it the 1st central bank in the world to have adopted negative Interest Rates and then ditch the controversial policy now only for Central Banks including the European Central bank and the bank of japan are Still Holding on to negative rates before lets cross over now to our Financial Markets correspondent in frankfurt and i hope he can hear me because i can see him and there is a comma why her sweetness and now you want to yeah good why why is sweden strikes bank changed its rate policy. Well monica the 1st reason reichs bank is naming in its report is that inflation is on target just like the European Central bank here in the euro area the mandate of the rykes bank in sweden is to provide price stability and that is defined at the inflation rate you know an incr
A large number these 8 percent are concentrated on the german Manufacturing Industry and this industry is in trouble at the moment it is basically in a recession for one and a half years now that is to say that production is shrinking that new incoming orders are shrinking so this part of the German Economy is not doing well at all is that all down to the to the trade war the insecurity about brags it all the other reasons as well. This is definitely one of the main reasons the breck city uncertainty surrounding the breaks and the uncertainty surrounding the trade war this has had an impact on the political industrial cycle and germany is a very important part of that industrial cycle but there are also difficulties currently in the german Automotive Industry which is you know transforming its production from the from the combustion engines to the electrical electric motors this is currently also. Having big problems at the German Economy on the other hand there seems to be some optimi