The United States imposed a new wave of rates against dozens of commercial partners, with President Donald Trump who mainly targeted China. The new ones ‘mutual duties’ they are customized against about 60 economies and replace the basic ones that entered into force on Saturday. The new levels They vary from 11 to 50%, with the directed retaliation against Beijing that will bring the rate to the surprising roof 104%.
The Asian share markets reacted largely with strong drops to the entry into force of the new US duties that fueled the fears of a commercial war by imposing a withdrawal of over 100% on Chinese goods. The Japanese Nikkei stock index dropped by 4.86% Shortly after the entry into force, while its currency, the Yen, gained 1.1% compared to the US dollar. In Taiwan, the Taiex index lost 5.8% in afternoon exchanges and the Hong Kong stock exchange sold 1.6%. The Shanghai bag, on the other hand, climbed by 0.2%.
The global markets have been in turmoil since last week, the president of the United States Donald Trump announced a wave of duties on the exports of almost all countries. Initially Trump had announced additional duties of 34% on Chinese goods. Beijing said he would take revenge with rates of 34% on US imports, so Trump responded with an increase of 50% of the duties, bringing the rate to 104% on Chinese imports.