Donald Trump has introduced duties against the main trade partners of USA – Canada, Mexico and China.
Raising roles against the three biggest trade partners in the United States has led to a collapse in the security market. It was written by the Financial Times on Tuesday, March 4.
In Europe, the Index of the Stoxx Europe 600, considering the shares of the largest companies, fell 0.9%, and the German Index Dax, which is essential for exports, reduced by 1.5%.
Vehicle manufacturers were also injured: Volkswagen shares fell 2.2%, and stellantis – by 4%.
The Hong Kong Hang Seng Index and the main Chinese CSI 300 index fell 2% and 0.8%, respectively. The Japanese export -oriented Nikkei 225 decreased by 1.2%, and the Australian S&P/ASX 200 – by 0.6%.
The decline follows a sharp fall on Wall Street, where the S&P 500 closes almost 2% lower, and the NASDAQ composite fell 2.6%.
In foreign exchange markets, the dollar fell 0.2% with respect to the money basket, including the euro, yen and pounds.
Remember, on March 4, Trump’s new 25-percent duties for goods from Mexico and Canada entered strength, and duties for Chinese goods up to 20%doubled. In response, China and Canada introduced duties to American goods. Mexico also prepares its steps.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.