Open the newsletter to watch the White House for free
Your guide to what the American elections mean 2024 for Washington and the world
Donald Trump shook global investors again on Tuesday as he was progressing in his plan to obtain an aggressive tariff for the largest commercial partners in America even when he was telling possible deals with some American allies.
The stock markets decreased sharply with Trump’s failure to calm the nerves of merchants just hours before he was appointed to countries from the European Union to China with new, high -ended new fees, which tends the world to a full trade war.
White House officials, including Treasury Secretary, Scott Payette, sought on Tuesday to speak Billionaire Allies and commercial partners and Republicans In Congress.
But any relief in which there was no relief as it became clear that Trump was pushing forward in his plan to empty arsenal of definitions against commercial partners, which led to a new era of global trade conflict.
The new attack from Trump’s tariff from Wednesday will include additional fees for China, although Beijing warns that it will “fight to the end” in a rapidly developed commercial conflict.
The 50 percent additional tariff for China, the second largest economy in the world, “will enter into force at 12.01 am” East time on Wednesday, according to White House press secretary Caroline Levitte.
“Everyone continues to hope, and it continues to wait for the definitions,” said Peter Chore, head of the total strategy at the Securities Academy. “But we have just slapped the increasing definitions of China. We slowly lose this optimism that this is a negotiation tactic. That is why trading was very volatile today.”
The S&P 500 Standard Index rose to 4.1 percent early in the trading session, but ended with a 1.6 percent loss after Levit’s comments – on the occasion of a fourth consecutive day of severe disturbance in Wall Street shares. Apple, which is severely exposed to China through its supply chains, has decreased by more than 8 percent this week alone with investor concerns about its margins.
The US Treasury Market has been exposed to 29 trails under the high pressure pressure in the past two days, as it has sent the long -term borrowing costs jumping with fluctuations that pay the hedge boxes to sharply expand the risk.
“Our” shocks “estimates to” shocks “to marketing views using the joint movements of American stocks and links are consistent with a significant reduction in the United States.
Additional fees in China means that its exports to the United States will face duties of more than 104 percent – a level that will be considered provocative by Beijing, which has already averages its 34 percent tax on American imports and moves to reduce the value of its currency.
In addition to the duties of the new China, the United States will also impose taxes on almost all other imports from Wednesday – the “mutual” tariffs announced by Trump during “Tahrir Day” last week.
This announcement has referred to financial markets since then, as it has eliminated the market value of $ 6.2 trillion of S&P and setting warnings of escalating inflation in the United States and slowly in the global economy.
Oil markets also fell in a reaction to expectations to obtain a sharp slowdown in global trade, where the American standard is trading in trading to less than $ 60 on Tuesday – a level drilling for drilling They said Trump’s ambitions will be frustrated to increase US crude supplies.
The US President’s design on follow -up through the highly protected tariff policies led to a violent reaction from Wall Street, business leaders and some Republican lawmakers.
The trade war that waved on the horizon also opened divisions within the Trump Special Circle. While Bessent described Monday his plan to launch talks with Japan on a new trade deal, Caesar Peter Navaro wrote in Trump in Financial times The president’s position was “not negotiations.”
On Tuesday, Elon Musk, Technology Adviser and Trump Adviser, attacked Navarro as a “fool” and “stupid from a brick bag” after Navarro suggested that the opposition of Tesla, the definitions, was self -interested.
https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F457120a3-9c80-4a6a-bd9c-c8b40e30485e.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1
Source link