The global markets plunged on Monday after the collapse of two days of last week at Wall Street, and President Donald Trump said that he would not back up his new prices, which disrupted world trade.
Countries rush to understand how to react to prices, with China and other retaliation quickly.
Trump Blitz’s price has kept a key campaign promise while it was acting without the congress to redraw the rules of the international trade system. It was a decades decision in the creation of Trump, which has long denounced foreign trade agreements as unfair to the United States
The higher rates should be collected from Wednesday, inaugurating a new era of clear -clear economic uncertainty in sight.
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China accuses us of unilateralism, protectionism and economic intimidation
China accused the United States on Monday of unionism, protectionism and economic intimidation with prices.
“Putting the United States on international rules is an act typical of unity, protectionism and economic intimidation,” said Foreign Affairs spokesperson Jian.
Lin said that new prices have harmed the world’s production and supply channels stability and have seriously had an impact on global economic recovery.
European actions plunge at the start of negotiations
European shares dropped at the start of negotiations, the German Dax dropped by 6.5% to 19,311.29. In Paris, the CAC 40 lost 5.7% to 6,861.27, while the FTSE 100 of Great Britain lost 4.5% to 7,694.00.
South Korea’s first sales negotiator will visit Washington
South Korea’s first sales negotiator will visit Washington this week to express Seoul’s concerns about the Trump administration’s increased tariffs and discuss the means to mitigate their negative impact on South Korean companies.
The Ministry of Trade, Industry and Energy of South Korea said on Monday that its Minister of Commerce, Inkyo Cheong, planned to meet various US officials, including US trade representative Jamieson Greer.
The ministry says that Cheong aims to collect detailed information on the Trump administration’s commercial policies and to engage in discussions to reduce prices by 25% placed on South Korean products.
Chinese officials meet commercial representatives of Tesla and other American companies
On Sunday, representatives of the Chinese government met with commercial representatives of Tesla, Ge Healthcare and other American companies. He called them to publish “reasonable” declarations and to take “concrete actions” to resolve the issue of prices.
“The United States in recent days has used all kinds of apologies to announce blind prices on all trade partners, including China, seriously harming the multilateral trade system based on rules,” said Ling Ji, Vice Minister of Commerce, during the meeting with 20 American companies.
“Chinese countermeasures are not only a way to protect the rights and interests of companies, including the United States, but are also to urge the United States to return to the right track of the multilateral trading system,” added Ling.
Ling has also promised that China would remain open to foreign investments, according to a reading of the meeting of the Ministry of Commerce.
Malaysia wants Southeast Asia to have a united response to prices
The Minister of Commerce of Malaysia, ZAFRUL Abdul Aziz, said that his country wanted to forge a united response from Southeast Asia to the American scanning prices.
Malaysia, which is the president of the Association of Southeast Asia Nations this year, will direct the special meeting of economic ministers of the regional block on April 10 in Kuala Lumpur to discuss the wider involvement of pricing measures on regional trade and investment, Zaprul said at a press conference on Monday.
“We examine the investment flow, macroeconomic stability and the coordinated response of the Anase to this price problem,” said ZAFRUL.
ASEAN leaders will also meet to discuss the strategies of the Member States and to alleviate the potential disturbances of the regional networks of the supply chain.
Pakistan will send a government delegation to Washington
Pakistan plans to send a government delegation to Washington this month to discuss how to avoid 29% prices imposed by the United States on imports from Pakistan, officials announced on Monday.
Development occurred two days after the Pakistani Prime Minister asked his Minister of Finance to send him recommendations to resolve the problem. The United States imports around $ 5 billion in textiles and other Pakistan products, which is based on loans from the International Monetary Fund and others.
The Pakistan Stock Exchange dropped quickly on Monday. The scholarship suspended the exchange for one hour after a 5% drop in its main KSE-30 index.
The Middle East markets follow the lower oil prices
The stock markets of the Middle East was plummeting while they were fighting with the double stroke of New American prices And a sharp drop in oil prices, pressing the energy producing countries based on these sales to fuel their economies and their public spending.
Benchmark Brent Brude is down almost 15% in the last five days of negotiation, with a barrel of oil costing just over $ 63. It is down almost 30% compared to a year ago, when a barrel cost more than $ 90.
This cost per barrel is much lower than the price of the estimated profitability threshold for producers. This is associated with the new prices, which saw the States of the Cooperation Council of the Gulf of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates have reached 10%tariffs. Other Middle East nations face higher prices, such as Iraq at 39% and Syria at 41%.
The exchange of the Dubai financial market fell 5% when it opened for the week. The Abu Dhabi Securities scholarship fell 4%.
The markets that opened on Sunday have also seen losses. The Saudi Arabia Tadawul Stock Exchange has dropped more than 6% in the trade. The Giant of the Stock Exchange, the State Company of Saudi Arabia, Aramco, fell by more than 5%, by wiping billions of market capitalization for the sixth most valid company in the world.
China projects confidence, saying “the sky will not fall”
Beijing struck a note of trust on Monday even as the markets of Hong Kong and Shanghai tumbled.
“The sky will not fall. Faced with the blind blows of American taxes, we know what we do and we have tools at our disposal,” wrote the people’s Daily, the official oral tip of the Communist Party.
Friday evening, China announced a series of countermeasures for Trump prices, including its own 34% tariffs on all goods in the United States to come into force on Wednesday.
The Australian dollar falls at levels last time at the start of the pandemic
The Australian dollar fell below 60 cents on Monday for the first time since the first months of the COVVI-19 pandemic.
The decline reflected concerns about the Chinese economy and market expectations for four interest rate reductions in Australia this calendar year, said Australian treasurer Jim Chalmers.
“What our modeling shows is that we expect it to be great success for American growth and Chinese growth and an increase in American inflation,” said Chalmers.
“We expect more manageable impacts on the Australian economy, but we always expect the Australian GDP to take a hit and we expect that there is also an impact on prices here,” he added.
The Trump administration has allocated Australia the minimum tariff of 10% on imports in the United States. The United States has benefited from a trade surplus with Australia for decades.
Indian actions fall while the sales pressure is intensifying
Indian actions fell sharply on Monday, seeing their greatest drop by one percentage day since March 2020 in the middle of the pandemic.
The BSE BSE Sensex benchmark and the NIFTY 50 index both fell by about 5% after the trading opened, but then recovered slightly. Both were later down approximately 4%.
Trump says he does not back up on the prices, calls them “medication” while the markets relay
President Donald Trump said on Sunday that he would not back up on his radical prices on imports of most of the world unless countries even become their business with the United States, by digging his plans to implement the taxes that sent Financial markets in shockraised fears of a recession and has turned the World Trade System.
Addressing journalists on the Air Force One, Trump said that he did not want the world markets to fall either, but that he was not concerned about massive sale, adding: “Sometimes you have to take medication to repair something.”
His comments came while the global financial markets appeared on the right track to continue net reductions once trading resumes on Monday, and after Trump aid sought to appease market concerns by saying that more than 50 countries had contacted the launch of negotiations to raise prices.
“I spoke to many leaders, Europeans, Asian, around the world,” said Trump. “They die of wanting to conclude an agreement. And I said, we are not going to have deficits with your country. We are not going to do it, because for me a deficit is a loss. We will have surpluses or at worst, we are going to break.”
Asian markets plunge as the price repercussions intensifies
Asian markets Plunged on Monday After the collapse of two days last week on Wall Street, and American President Donald Trump said that he would not back up his radical prices on imports of most of the world unless countries even become their trade with the United States
Tokyo’s Nikkei 225 index lost almost 8% shortly after the market opened on Monday. At noon, it was down 6%. The Hang Seng of Hong Kong fell 9.4%, while the Shanghai composite index fell 6.2%and Kospi in South Korea lost 4.1%.
Future Americans also reported a new weakness.
Market observers expect investors to face more wild oscillations in the days and weeks to come, with a short -term resolution for the trade war that is unlikely.
