Dip in the stock markets and the price of oil
OR China It announced 34% additional duties today to US products, in the most serious escalation of trade war with the US president Donald Trump which has fueled fears of recession and has caused serious shocks in the global financial markets.
The Chinese Treasury announced today that it will impose 34% additional tariffs on all US products from April 10. Beijing has also announced checks on exports of some categories of rare land in the US, with power today as well as adding several US entities to an export control list and that it characterizes others as “non -reliable”.
China also announced that has appealed to the World Trade Organization (WTO) Regarding the duties imposed by the US on its exports.
Beijing’s move came after Trump announced that it imposes a 34% duties on all imports of Chinese goods, in addition to the 20% horizontal contribution imposed by the US president this year, as well as the duties that had come into force on the first term of the first and first term of the first term of the Trump.
Relations between Washington and Beijing have worsened since Trump returned to the White House in January. An indication of the cold climate in the two countries’ relations is the fact that the US president has not yet spoken with his Chinese counterpart, although he has been more than two months after taking over his duties.
In the face of the commercial escalation of the world’s two largest economies, the reaction was immediate in the markets: at 13:35 Greek time, the Frankfurt Stock Exchange fell 4.46%, Paris 3.83%, London 3.48%, Milan 7.18%and Madrid 5.66%.
Oil prices, which had already been precipitated by Trump’s announcements on duties, declined more than 5% after China’s response.
