China responds to the American rates with countermeasures. The Ministry of Finance announced on Friday in Beijing in Beijing on all American goods. This must apply from 10 April. The stock exchanges responded immediately, the ATX fell 6.71 percent to 3,732.36 points.
This threatens the highest daily loss since the start of the Russian offensive in Ukraine in February 2022. A large part of the current price wins of the current year has already been eliminated.
Bank shares especially press
The domestic stock market lost above the average due to the high weighting of the bank shares. In the European environment, the Euro Stoxx-50 recently lost 4.56 percent to 4,880.37 points. The German Dax gave up 4.83 percent to 20,668.64 points.
In particular, the Bank shares first group and Bawag, which are heavily weighed in the ATX, have the leading index with price losses of more than nine percent. Falling market rates are charged here, because market participants expect the central banks to have to prevent interest rate economics in a weakening world economy. This can put pressure on the interest rate margins.
As the Chinese ministry continued, China also filed a complaint with the World Trade Organization (WTO) against the mass import duties of the US for Chinese goods. However, the international organization of the international organization in Geneva has been blocked for years.
American customs costs against China 54 percent
Trump had imposed new rates against China on Wednesday evening in an amount of 34 percent and they should come into effect next Wednesday. Together with earlier import costs, customs have imposed allowances to China since the Trump office in January. China is the country with which the United States has the largest trade deficit.
Beijing had previously responded to the entry of the US and had imposed new rates of 10 and 15 percent for a number of agricultural products such as soybeans and millet, as well as energy products from the US.
Taiwan offers companies billions of help
In addition to China, Taiwan also announced measures. With 288 billion Taiwan -Dollar (8 billion euros), the government wants to help companies and branches of industries in Taipei, so that they can enter into the consequences of the new American trade policy.
200 billion Taiwan dollars must be made available as export loans and the rest must go directly to the groups that have been aimed by the rates.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
