tv Business - News Deutsche Welle June 3, 2021 8:15am-8:30am CEST
community and we don't know right around the fact that we did it sounds almost the end. yeah. jemila. hussein joining us from sri lanka, capital colombo, thank you so much for bringing us up to date. and with that now you are up to date here on the w news. i'm sarah kelly in berlin. thank you so much for watching. the news. the news screwed me to 2 species. an expedition into disease or the secret language of whales exciting part of the underwater listening. if you're getting your window into their,
their life member, you will never see your company, your research team to the pacific to the language of wales, june 4th. on dw me, the global taxation rises to the top of the agenda for friday. g 7 meeting can the us push its allies to come up with a plan that gives big international companies less hiding room from taxation without focusing too much on big tech and us angering washington. also in the show, china singles out multiple western clothing brands for what it called hazardous products. they just happen to be the same brands involved in a spat over force, labor and change young province and what to do with old car batteries. they still have some juice in the startup, in berlin is giving them
a 2nd life hello. welcome to the show. i'm seeing beardsley in berlin. the u. s. is upping the pressure on its allies days before the start of discussions on global taxation. with the focus on the thorny issue of taxing big tech firms of the us trade representative on wednesday imposed tariffs of 25 percent on imports from 6 countries that have introduced digital taxes that hit those firms including the u . k. india and italy. but immediately suspending that for 6 months attack station will be a big topic of the g 7 discussions. beginning friday us is pushing for a minimum corporate tax. it has warned against countries singling out mostly us tech firms are going to ashtosh panda in frankfurt for more, i should touch, why is the u. s. what's going on here was the u. s. threatening its own allies with 25 percent tariffs? it's pretty whopping well, you want to see it in 2 steps. first in position and then the suspension now in
position is because there was a deadline on wednesday after that the statutory authority to do so would have lapsed. so that's one of the thing. the other thing is to keep the pressure on these countries so that they eventually agreed to a minimum tax bill. but framework contacts ation. the other thing, the suspension actually implies that the, the us is actually hopeful of a deal of pretty soon. we know that we see the talk and digital tax and other international taxation issues on the home stretch. you and d looks imminent, probably as early as the next half of the and, and that's because the biden administration has actually put support behind a minimum of corporate tax i. she does, why has taxation becomes such a burning issue for the global community of the past few years? well, if you live, look that the global efficient, who haven't really been amended the palm preemptively over the past few decades.
and they don't really reflect the realities of more than the cross border trade. and especially with the rise of these big funds. and now government feel a big tech forms are able to use many of the new pours to actually it out. some of the profits to low tax jurisdictions. i should touch panda and frank for thank you . are shifting gears. chinese government has formerly accused an array of western fashion brands of selling substandard children's clothing, the post potential health hazards. now, among the companies that names are swedish brand h n. m. american sports, where maker nike and spanish label zarbara tried his cousin's agents. he lives at 81 batches of important children's clothing, products for quality and safety risks involving dresses and shorts. but also shoes, toys, tooth brushes, and baby bottles even many sided for harmful dies or other substances. now interest, interestingly, those brands, among others, have already been under intense pressure from chinese consumer boycotts following
their pledges not to use cotton from china's western sheen john province. due to legit human rights violations against the weaker population living there. and western brands are walking a thin line of dispute. china is a major market for them. consumption they're expected to reach more than 10 trillion euros by 2030. that according to morgan stanley. but of course, the same firm's face intense criticism back home if they continue to source cotton from machines, young province. clifford coon and are trying to expert here for the business is going to help me sort this out. quivered good morning. first of all, what? what evidence we have that this is linked to this broader dispute? can we really say that with certainty, that is the singling out of these companies recently? well, i think what we're seeing here is a pattern, and that's where most of the evidence is. we've seen how there's been growing pressure on western brands. there's incredible irritation in china over the accusations of 4th labor and she's young. she's young as is where 20 percent of the world cotton comes from. so this is one area where they can use a political,
they can make a political point using the leverage that they have, which is the huge chinese economy. so what we're seeing is they're, they're putting this pressure here. and it's in some way similar to what we've seen in australia. it came through the customs officials. so there they said, you know, there was a problem with the lobster, which they left sitting on the runway for several hours. you know, that may to be, might, in contamination. there. i'm here they're talking about dies in the, in the close, it's kind of a sort of picking various areas that they can really put the pressure. how to companies navigate this tricky area. they need china, but they also need approval back home. you know, it's, this is a big problem and it's going to be a growing problem with china, i think because the market is becoming so important. at the same time, china's growing assertiveness mean stop. there's going to be, these are systemic challenges here between the west and china now. so you have to meet in some ways. firms have got to make a decision, how they're going to deal with this. whether, you know, if you've got human rights abuses and she's young, but it's the source of your cotton and also this huge market as,
as you pointed out there, how do you balance that? so at the moment they're really, really struggling. i think to deal with this, they're being attacked on social media, which is a great, a great, you know, a lot of pressure coming there. so it's a real issue for the chinese company. i've sorry for the instant western companies . does the advantage really lie with china in this case? i mean, i would imagine they're actually a lot of chinese consumers would very much like to have products from nike from czar from h and m. well, this is going to be the test. i mean, what we saw after when, when these things start is rolling out a few months ago, there were things like getting rid of people would appear on tv without their audio logos or without their human logos. there's these are very, very popular products in china, and even though there's a lot of nationalism been linked to this and stoked up on this on social media, these are also still hugely popular products. and it's a question about the chinese consumers are going to go for domestic brands versus the brands that everyone else in the world has. and as we know from consumers, everyone likes to be part of the gang. right? so it's kind of nice nike is there a chinese already does. exactly. i mean,
you do have the name, you know, which is one of the domestic brands. but it still doesn't really have the, quite the same ways. and as the western brands, what are western governments able to do about this? if anything, i mean, you mentioned australia earlier, i imagine we've seen some back and forth there. yeah, i mean, again, this is another big challenge. how do you, how do you weigh this? i mean, ultimately this is going to be kind of like a question of who, who blanks for. i think you know, who's going to be the one to say, you know, will there be concessions on the human rights? things will be some talks to, to take this forward or will ultimately, the power of commerce take over. all right, if it's always a pleasure with current d, w business. now we're going to go to some other business stories, making headlines, britain and the you have reached an agreement in principle on cash limits for shared fish docs. you agreement establishes total allowable catches for $75.00 shared fish docs for this year, as well. several deeps. these docs for 21 in 2022 u
. k. has received a boost to its efforts to expand trade links outside of europe. the 11 member nations of the trans pacific trade deal, the c p. t p. p. have agreed to allow britain to start the process of joining the pact most brags that the biggest radio so far has been with japan. well, lecture cars are on the rise and they could dominate roadways in the decades to come if everything goes according to plan. so what happens when they're eventually chunks of the batteries that we still have plenty of juice and them now start out of berlin is giving them 2nd life berlin bay start out. batteries has found a solution for electric vehicle batteries. right now, her name and his team are giving them a 2nd life. so gotten the bow and so this is how we received the batteries. they still have about 70 percent of the original storage capacity. first we disassemble these 48 modules, check them, and then use them to produce our new better package. the better packs are compact,
35 killer storage batteries. they provide energy and our environmentally friendly time to load up this start talking a 2nd life for former car batteries is practical in africa and asia providing clean mobility for all situations. her name was previously a rolls royce executive now he's motivated by green technology. but for that he needs industrial partners the idea which was born in berlin will be implemented on a large scale and parents were the 1st factory for automobile recycling is being built to get batteries a 2nd life. this is an example of how it could look for containers full of 50 for electric vehicle batteries and 6 columns,
many power plants connected to the local electric grid that could act as a buffer to offset any energy fluctuations. busy for containers can supply an hour of electricity to nearly 9000 households on the banks of the river, san, and paris, the car, batteries get a 2nd life and the port boat owner, d d. a spot also relies on the new technology. ah, so be sure this is the future of everything that has to deal with transportation. and of course it applies to both to, to, especially since they're being criticize for polluting the environment and so on. the ultimate yield to pollution, i spade wants to retrofit all of his boats with 2nd life batteries. he already uses them in a small ones. his plan is for his hopefully to be entirely electric by the
2024 summer olympics in paris. the and finally, the famed las vegas strip is back open for business. starting on monday, the city's most prominent stretch has reopened the 1st time and more than a year. businesses are now allowed to be open to full capacity or masks, or social distancing required us vaccine rollout has provided a much needed economic shot in the arm for a city that largely depends, of course, on tourism. the jobless rate in las vegas search to 34 percent last spring is one of the worst rates in the country. now, hotels are at 80 percent occupancy least on the weekends right, is reminder of our top story, this our head of the g 7 summit, the u. s. is putting pressure on its allies, those tariffs of 25 percent on imports from 6 countries that have introduced
digital taxes, which are hurting some u. s. companies. tariffs are suspend it for now. for the business team here in berlin. as always, you can find, find out more about these and other business stories online, d, w dot com slash business. we're also on facebook. thank you so much for watching. we'll see in a few hours with the news news
love banding thing away, but i'm not going to my own call everyone with later holes and everything. good. and are you ready to meet the gym and then join me. rachel? do it on the w i the i me, i'm this close to buying a new desk for my flats. maybe something like this, know maybe something a bit bigger. but i don't know if i really need one. i hate the idea of being chained to a desk.