The war of duties began and sinking Wall Street: Trump's maxi rates against Canada, Mexico and China (and Fenanyl) start)

If the duties on European products are still a threatening promise («We made the decision, and we will announce it shortly: they will be 25%« , Donald Trump said at the end of February, on the occasion of the first council of his government's ministers), those against Canada, Mexico and China They are a reality from 4 March today. The commercial war therefore began and financial markets have already gone haywire. Yesterday's announcement to tax a market of goods with a total value of 1,500 billion dollars In fact, he triggered a collapse of global actions and pushed down the bond returns, while both Mexican weight and the Canadian dollar dropped.

Bags deep red, Wall Street burns

Since this morning, All the main European bags are in red (Among the most affected securities those of the automotive sector: Stellantis collapses at -10% and Iveco at -8%). Also Wall Street He has just opened negative, with the S&P 500 burning the earnings accumulated by the presidential election of November 5, sending a total of 3,400 billion dollars. The Dow Jones loses 0.63% to 42,925.87 points and the Nasdaq leaves 0.96% to 18,168.79 points on the ground.

EU: « From new duties uses risk for global trade »

Meanwhile, the EU has emphasized that Trump's decision is likely to interrupt global trade, creating « unnecessary uncertainties at a time when international cooperation is more crucial than ever ». But the negative effects could manifest themselves in short even within the United States. According to American economists, The duties on Canada and Mexico, who alone cover a value of over 900 billion dollars of annual imports to the United States, will represent a serious setback for the whole North American economywhich is highly integrated. For many commentators, Trump's decision will cost American families thousands of dollars in food stores, service stations and pharmacies.

Trudeau: « Dice of 25% out of 107 billion US goods »

Even for the new duties on goods imported by Canada and Mexico in the United States it is 25%, while for Canadian energy resources the tax is 10%. The Prime Minister Justin Trudeau He reiterated that « nothing justifies these American measures » and that « to a war that will not see winners and that will hurt the US families, Canada will respond starting from midnight » applying duties of 25% out of 107 billion dollars of US goods. The new Canadian rates will come into force for 20 billion dollars of goods simultaneously with the US ones, while the duties on the remaining 87 billion will be applied in 21 days. « Our rates remain in force until the commercial action of the United States is withdrawn, » said Trudeau in a press release. And also the premier of the Ontario Doug Ford He told the NBC that « we will reply to the duties as they have never seen before », adding that Michigan's car systems will probably close within a week and that the Ontario will stop the shipments of Nichel and the cross -border transmission of electricity to the United States.

China increases duties on chicken, wheat and cotton made in the USA

Also last night, Trump said that even for China now « there is no more space » for an agreement that avoids duties by limiting the flows of Fenanyl In the United States: for this reason the tax on Chinese products today doubles (passing from 10 to 20%) as a punishment against Beijing for « not having taken adequate measures » to stop the shipments of the synthetic opium in America. Meanwhile, the Chinese Ministry of Commerce has promised countermeasures with an unexpected between 10 and 15% of the duties according to the goods imported from America (The most tartalized will be chicken, wheat, corn and cotton), while it has already filed an appeal to the World Trade Organization (WTO). According to China, the last increase in the rates of the White House the rules of the WTO seriously violates And it undermines the foundations for the economic and commercial cooperation between China and the United States. In truth, already in February Beijing had contested the previous move to WTO to add a 10% rate on Chinese goods. However, the WTO mechanism for the resolution of commercial disputes is actually inoperative since the first term of President Trump.

Sheinbaum: « If rates enter into force, we have a reserve plan »

What about Mexico? After avoiding the first round of Trump duties thanks to a last minute agreement for sending thousands of troops to the northern border, the country has intensified anti-drum efforts and has mentioned new measures on imported Chinese goods. Apparently, however, it was not enough for Trump. At the moment the administration led by President Claudia Sheinbaum is at the window waiting to see what will happen: «We have reserve plans. Whatever the United States decided, Mexico is ready ».