European and Asian scholarships fly away after Donald Trump’s turnaround on customs surcharges – Liberation
After Massive losses in recent daysmarket places breathe again. European scholarships took off at the opening this Thursday, April 10, euphoric after Donald Trump’s spectacular reversal on customs duties imposed on the rest of the world, with the exception of China.
In the first exchanges at 9 am, the CAC 40 Paris flew by 6.43 %, the Dax of Frankfurt by 7.81 %, the London Footsie by 5.99 %, the Milan Stock Exchange by 7.81 %and the Swiss that of 7.47 %.
A little earlier, the Asian scholarships closed up sharply, also relieved by the break on massive American customs increases and betting on a lull in the trade war Despite the uncertainties always weighing on China. In Tokyo, the Nikkei star index ended with a 9.12 %leap, when in Seoul, the Kospi index gained 6.6 %. The Sydney Stock Exchange, it ended up 4.5 % and that of Taipei flew by 9.25 %. In Southeast Asia, even euphoria. The Thailand Stock Exchange jumped 4.92 %, Jakarta by 4.85 %, and the Vietnamese scholarship by 6.62 %.
After their strong loss of the day before, the Asian markets follow the plunge to the spectacular flip-flop of Wall Street where the Nasdaq index flambé on Wednesday 12.16 % in the wake of the unexpected turnaround of Donald Trump. The Dow Jones has soared 7.87 % and the enlarged S&P 500 index of 9.52 %.
The American president has decided to “break” his customs duties for 90 days on the rest of the world by provisionally bringing the prices imposed on most countries temporarily to 10 %, if the latter have not retaliated. With the notable exception of China which is now taxed up to 125 % on the export of its goods in the United States.
In response, Beijing called this Thursday morning in compromise to try to stop the tariff climbing between the two countries. « The door is open for negotiations, but this dialogue must be carried out on an equal footing and based on mutual respect », announced to the press a spokesperson for the Chinese trade ministry. She also assured that her country was going « Fighting to the end » Faced with American customs duties, now the position of China since the start of this crisis.
There are also other protectionist measures of Trump in force, such as sectoral surcharge (steel, aluminum, automobile, pending the pharmaceutical sector) as well as sanctions administered in Canada and Mexico for fentanyl traffic at the borders.
Update : At 10:57 am, with the addition of Beijing declarations.
