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A sale on the world market has deepened while Donald Trump pushes his aggressive prices plan on the largest American business partners, even though he praises potential agreements with certain American allies.
Actions fell sharply a few hours before Trump hit a wide range of countries with new steep samples, tilting the world into a full -fledged trade war.
The managers of the White House, including the secretary of the Treasury Scott Bessent, sought to speak of possible commercial negotiations with South Korea, Japan and other countries – a message that gave hope to investors that Trump could soften his position after pressure from billionaire alliesTrade and Republican partners at Congress.
But any relief was short -lived because it has become clear that Trump advanced with his slap plan price on business partners.
During a fundraising event for the Republicans at the Congress on Tuesday evening, Trump took a provocative tone, saying that other countries “wanted to conclude an agreement with us”, but the United States did not “necessarily” need an agreement and were “happy with the way we are”. He added: “I know what I do.”
The new rates blitz will include additional samples from China, despite Beijing’s warning that he “Fight until the end” in a rapid development conflict.
The additional 50% price of the United States on China, the second world economy, “will come into force at 12:01 pm” time in the east, said the press secretary of the White House, Karoline Leavitt.
“Everyone continues to hope, continues to wait a break in the prices,” said Peter Tchir, head of the macro strategy at Academy Securities. “But we have just slapped the additional increased prices on China. We slowly lose this optimism that it is a negotiation tactic. This is why trading has been so volatile today.”
The S&P 500 reference index increased up to 4.1% earlier on Tuesday, but ended with a loss of 1.6% after Leavitt’s remarks – marking a fourth consecutive day of intense turbulence in the United States actions.
Apple, which is strongly exposed to China thanks to its supply chains, fell by more than 8% this week when investors are concerned about its margins. Asian actions dropped at the start of negotiations on Wednesday.
The 29TN US cash market has also become under growing sale Over the past two days, sending higher long -term borrowing costs.
“Market price action has been dramatic,” said Goldman Sachs in a note to customers. “Our estimates of” shocks “of market views using the joint movements of American shares and obligations are consistent with a great degradation of American growth views.”
Additional samples from China mean that its exports to the United States will be faced with rights of more than 104%, a level which will be considered a provocation of Beijing, which retaliated with its own 34% tax on American goods.
In addition to the new rights in China, the United States will also impose taxes with almost all other imports – the “reciprocal” prices that Trump announced during the “Liberation Day” last week – from Wednesday.
Since then, 6.2 TN of market value has been erased from the S&P 500 index, and analysts have warned against spiral inflation in the United States and a slowdown in the world economy.
The oil markets have also dropped on the expectations of a strong slowdown in world trade. The Brent Brut, the international index, dropped up to 4.1% in Asian trade on Wednesday at $ 60.26 per barrel, the lowest from the depths of the COVVI-19 pandemic at the beginning of 2021.
West Texas Intermediate, the American reference index, exchanged below $ 60, a level that said that the Foreurs said that Trump’s ambitions have thwarted the American crude crude.
The president’s determination to follow his ultra-protection rates attracted a fierce reaction from Wall Street, business leaders and certain republican legislators.
The imminent trade war and economic disruptions have also opened divisions in Trump’s own circle. While Bessent described its talks to Japan on Monday for a new trade agreement, TSAR Trump Peter Navarro on Monday Written in financial times that the post of the president was “not a negotiation”.
Elon Musk, the technology billionaire and Trump advisor on Tuesday Navarro attackedThe appellant a “moron” and a “stupid than a brick bag” after Navarro suggested that the opposition of the boss of Tesla at the prices was interested.
Additional reports from William Sandlund to Hong Kong
