China raises customs to 125 percent against the United States
The Japanese Tokyo stock exchange collapsed on Friday morning in response to the United States on Thursday raising customs against China to 145 percent. Over the past week, the countries have been taking turns raising the import duties, after the United States Wednesday, April 2, with customs against the world – and primarily not China.
US President Donald Trump backed down Thereafter and introduced a 90 day break in the highest customs levels for all countries except China, which consistently responded to US customs with their own. It made the markets rush again, and take back a large part of the declines. But on Thursday evening Swedish time, it turned down again, and both shares and US bonds lose value.
On Thursday, the latest increase took place on the part of the United States, to 145 percent against China. Thus, on Friday morning, the country responds by 125 percent, says the Ministry of Finance. The new level, an increase from 84 percent, is valid from April 12.
Even in Europe, the stock exchanges fall on Friday after the escalated customs war, overall with up to about 2 percent. The Stockholm Stock Exchange’s leading index was just over 2 percent minus at 11 o’clock.
In the past, China has assumed that one does not intend to give in to Trump, but will « fight to the end ». But now there will be no more increases on the part of China, according to the statement, but continued increases from the United States will be ignored.
The reason is according to Beijing That « there is no longer any market acceptance for US goods exported to China under current customs levels, » TT writes.
China’s President XI Jinping believes that the EU and China must make common to the US customs war and « resist unilateral bullying forms ». The statement takes place in connection with a visit from Spain’s Minister of Agriculture.
US Finance Minister Scott Bessent warns Spain, and other countries that intend to approach Beijing, that it is to « shoot themselves in the foot ». According to Bessent, China will want to dump goods that cannot be sold to the United States in other countries.
China has also re -submitted a formal notification against US customs to the World Trade Organization, WTO.
A survey As CNN refers to states that Trump’s customs policy will cost an ordinary middle -class family in the United States equivalent to SEK 35,000 extra per year.
