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China has announced 34% rights on all American imports in retaliation for Donald Trump prices, approaching the world of a full -fledged trade war when the American president has never backwards.
The world’s stock markets extended their losses on Friday after the Beijing Declaration, the S&P 500 down 2.4% open and the Stoxx across Europe 600 4% lower.
“China has played badly, they panicked – the only thing they can’t afford to do!” Trump posted on his Truth social network just before Wall Street started to negotiate for the day.
The new Chinese price corresponds to the latest increase in the American president of tasks on Beijing and is presented at the top of a previous tour this year.
The country Ministry of Commerce said on Friday that it would be imposed on all imported American goods from April 10, one day after the entry into force of the “reciprocal” samples of America.
The Beijing movement was accompanied by a multitude of other measures, including restrictions on rare earth exports and a probe from the Chinese subsidiary of Dupont, the American giant of chemicals.
Trump said he would persist with his policy, who would take Washington price At their highest level for more than a century, despite the Wall Street falls and other scholarships from around the world.
“For the many investors who enter the United States and invest in massive money, my policies will never change,” he published. “This is the ideal moment to become rich, richer than ever!”
The announcement of the American president this week of the 34% rate on Chinese imports to the United States will take American average prices on Chinese products at 76%, according to the analysis of the Peterson Institute of International Economics.
This figure is much higher than 60% threatened by Trump in last year’s election campaign.
Beijing, who had previously considered such a level of prices as a worst scenario, denounced the new American tasks as “a typical decision of unilateral intimidation”.
He added that the round of American prices of this week “does not respect the rules of international trade and seriously damages the legitimate rights and interests of China”.
Leah Fahy, Chinese economist in Capital Economics, said in a research note that the new right of reprisals in Beijing at 34% had pushed the country’s average price on American imports at around 50% and marked a “significant escalation”.
The latest measures are likely to have the most impact on American agricultural exports, including soy, wheat and corn. China is also an important importer of pharmaceuticals, crude oil, petroleum gas and liquefied natural gas from the United States.
The trade war arrives at a sensitive moment for the Chinese president Xi Jinping, who relied on exports to direct the second world economy thanks to a crisis and a deflation of the real estate sector.
Alicia GarcÃa-Herrero, chief economist of Asia-Pacific at Natixis, said that the latest prices cycle in Beijing suggested that he was trying to position himself to be the first line for high-level negotiations with Washington.
Trump’s decision to impose steep prices on American trade partners around the world has convulsed the markets. Thursday, around 2.5 billion dollars in market value Erased Wall Street actions And all the dollar post-electoral gains have been destroyed.
While the falls continued on Friday, the FTSE 100 dropped by 3.5% and Germany Dax lost 3.8%.
Investors swept away treasury billsPushing the yield at 10 years down 0.13 percentage points during the day at 3.93%.
Beijing is among the largest targets of “reciprocal” prices Unveiled by TrumpWho had already imposed a distinct 20% obligation on Chinese products earlier this year.
Andrew Gilholm, head of China’s analysis at Consultancy Control Risks, said Beijing could undergo “major auto-inflicted damage” of US prices, given the China’s trade surplus with the United States and the prices it has already in place.
On Friday, China announced export prohibitions on seven types of rare land, while American technological companies, including manufacturers of Skydio and Brinc Drones drones, were added to its “unreliable entity” list, which prohibits Chinese suppliers from selling components.
