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Donald Trump imposed a group of prices in Canada, Mexico and China, arousing immediate Beijing reprisals and sending lower stock markets as fears are going on a trade war.
In the most Radical trade measures Since his return to the White House in January, the American president has succeeded in imports from Canada and Mexico with a 25% rate that came into force on Tuesday.
The White House also imposed an additional 10% price on Chinese imports in addition to a 10% tax imposed last month.
Trump accused the three countries of not tackling the traffic of fatal fentanyl opioid while also demanding that Mexico and Canada tighten their borders.
The movements made an instantaneous response from Beijing, which indicated that it would preserve a tariff of 10 to 15% on American agricultural products, ranging from soybeans and corn and wheat beef from March 10. Canada Reprisals deemed previous With a price against $ 30 billion in American imports.
THE price Against the three largest trade partners in the United States, has increased its duties to some of the highest levels in decades, and came after Trump last month in Canada and Mexico a 30-day measure of measures.
Mitul Kotecha, responsible for emerging markets and FX strategy at Barclays, said that risk assets “take a little blows” while investors have run to assess the risks of a series of reprisals.
The Hong Kong Hang Seng index and the CSI 300 reference in continental China dropped up to 2% and 0.8% respectively before recovering their losses flat. Nikkei 225, heavy with the Japan exporter, slipped 1.2%, while the S&P / P / ASX 200 in Australia fell 0.6%.
In Europe, the Benchmark Stoxx Europe 600 fell 0.6% at the start of negotiation on Tuesday.
The decreases follow the steep Wall Street falls, where the S&P 500 closed almost 2% less and the composite of the Nasdaq dropped 2.6 after Trump confirmed late Monday that the prices would come into effect.
“Actions take a leaf from American movements overnight,” said Kotecha. “We have had fairly clear movements in American stocks, so I think it’s a reaction to that. If the United States slows down, it is obviously not good for the rest of the world. »»
In the exchange markets, the dollar dropped 0.2% compared to a basket of currencies, including the euro, the yen and the book, after a drop of 0.8% on Monday.
Mexico Peso weakened 0.3% compared to the US dollar at 20.8 while the Canadian dollar dropped 0.3% to $ 1.45 CA against the American currency before recovering.
The samples against Ottawa are set at 25% except Canadian oil and energy products, which face a tariff of 10%. Canada represents around 60% of American raw imports.
In its response, China has also targeted American companies, placing 10 companies on a black national security list and striking export controls on 15 others.
He also prohibited the American biotechnology company Illumina from exporting his sequencing equipment to genes to China. Beijing had Addition Illumina to his “Unreliable entities” list Last month in response to the initial Trump prices dam.
The Chinese Ministry of Commerce previously retaliated to the American justification for the prices on fentanyl flows, affirming that the claim “does not take into account the facts, the rules of international trade and the votes of all the parties, and is an act typical of non-acaderalism and intimidation”.
The Chinese Ministry of Foreign Affairs has also threatened to withdraw cooperation with the United States on drug control, which resumed under the administration of Joe Biden.
“If the United States continues to use the fentanyl problem to put pressure, make you sing, coerce and threaten China, it will only be counterproductive and will not bring dialogue and cooperation between China and the United States in the field of drug control,” the ministry said.
