The president of the United States, Donald Trump, threatened on Monday to new tariffs of 50 percent in China, increasing a commercial war even when a dramatic victim in global markets accumulated the rhythm.
Trump changed the world economy last week with radical tariffs that have generated fears of an international recession and caused criticism even since their own Republican party.
In response to Trump’s tariffs, Beijing, Washington’s main economic rival, released his own 34pc duties over US assets to enter into force on Thursday.
The president of the United States punished China on Monday for not paying attention to “my warning to abuse countries not to retaliate.” He said on social networks that if China did not immediately retreated “the United States will impose additional 50 percent tariffs, as of April 9.”
With the incoming rate of 34pc and the new 50PC threat, total additional tariffs this year could reach 104 %, said the White House. AFP.
Trump also called Beijing “the greatest abuser of all” in rates.
The Minister of Vice Chinese Commerce, Ling Ji, said that the Tit-For-Tat duties “are aimed at bringing to the United States again to the right path of the multilateral commercial system.”
“The root cause of the tariff problem lies in the United States,” Ling told representatives of US companies on Sunday.
Today early, the actions in New York joined the fall, with the three main indexes of the United States. Falling more than 3 percent in early trade.
The European actions were deep in red, but Asia was worse, with the Hang Kong Hang Seng index, which crashed 13.2pc, its greatest fall from the 1997 Asian financial crisis and Nikkei 225 of Tokyo that falls 7.8pc.
A “baseline” rate of 10 percent in imports around the world entered into force on Saturday, but a series of countries will be affected by higher tasks as of Wednesday, with 34pc levies for Chinese and 20pc products for EU products.
Minutes before the markets were opened in New York, Trump published that their tariff reforms were “an opportunity to do something that should have been done decades ago.”
“Don’t be weak! Don’t be stupid! … Be strong, brave and patient, and greatness will be the result!” He urged.
The EU trade ministers met Monday in Luxembourg to discuss the response of the block, with Germany and France to have advocated a tax addressed to US technological giants.
“We should not exclude any goods option, on services,” said French Commerce Minister Laurent Saint-Martin.
‘Aggressive’ options
The 27 nations block should “open the European toolbox, which is very complete and can also be extremely aggressive,” he said.
German Economy Minister Robert Habeck said that Europe should be prepared to use its commercial “bazuca”, a new anti-coercion mechanism that allows you to punish any country using economic threats to exert pressure on the EU.
But the signs of divergence arose from Ireland, whose low corporate tax rate has attracted US pharmaceutical and technological companies.
Orientation services “would be an extraordinary escalation,” said Irish Commerce Minister Simon Harris.
Trump on Sunday had doubled, saying: “Sometimes you have to take medications to fix something.” He told reporters aboard Air Force One that world leaders were “dying to make an agreement.”
Billions of dollars have been eliminated from shares worldwide since Trump announced tariffs last week, and losses deepened on Monday.
The JPMorgan Chase CEO, Jamie Dimon, warned that tariffs “will probably increase inflation,” in a letter to the shareholders on Monday. “If the tariff menu causes a recession remains in doubt, but will reduce growth,” he said.
Taipei registered its greatest registered loss, since 9.7pc was sank.
The Stoxx Europe 600 index dropped 5 percent in the afternoon agreements, with more than € 1.5tr of market capitalization in smoke for just a few days. The main oil contract in the United States fell below $ 60 per barrel for the first time since April 2021 about the concerns of a global recession.
Global demand ‘missing’
“The market says in simple language: global demand is disappearing, and a global recession is on the cards and is quickly approaching,” said Stephen Innes of Spi Asset Management.
American officials said more than 50 countries have communicated with Trump to negotiate.
Japan Prime Minister Shigeru Ihiba said Monday that he had made a call with Trump in which they agreed more conversations about the rates.
Benjamin Netanyahu, Prime Minister of Israel, beaten with the 17 PC tariffs, despite being one of Washington’s closest allies, was due on Monday to become the first leader to meet Trump since the announcement of last week.
Vietnam, a manufacturing power with a large commercial surplus with the United States, already contacted and requested a delay of at least 45 days to 46pc tariffs.
