Were looking for brakes for European leaders US Taxes After the United States President on Monday Donald Trump Mexico, Canada and China have been imposed on imposed taxes that will affect billions of dollars of trade, revolving global markets and currencies.
Trump said the taxes against three major US trade partners, which are implemented on Tuesday, could cause some short -term discomfort to the Americans, but “long -term, the United States has been bursting with every country in the world. “
On Monday, global stock markets and currencies emphasized that prices would start an economically harmful trade war. In the morning trade, the Pan European Stokes 600 Index declined by 1.3 %, which is set for its largest one -day slide this year and decreased by 1.4 % in the future of Wall Street's S&P 500.
Addressing his Mar-A-Logo State in Florida on Sunday, Trump indicated that 27 countries would be in the European Union firing, but did not say when.
“They do not take our cars, they do not take our farm products. They told reporters that they take almost nothing and we take everything from them.
European Union leaders met at an informal summit in Brussels on Monday that if the United States imposed revenue, Europe would be ready to fight back, but it also demanded reason and dialogue.
Reaching talks, French President Emmanuel Macron said that if the European Union was attacked in its trade interests, it would have to “respect itself and react.” He added that recent announcements from the United States are forcing Europe to be stronger and more united.
The European Union's largest economy, Germany's Chancellor, Olaf Schools, which relies heavily on exports, also said that if he could respond blocking his own taxes against the United States, he emphasized that for both of them. It is better to make trade agreements.
Luxembourg Prime Minister Lok Freden said: “I think the revenue is always bad. The revenue is bad for trade. The revenue for the United States is bad.
Trump indicated that Britain, which left the European Union in 2020, could be exempted saying: “I think it can be worked out.”
The United States is the European Union's largest trade and investment partner and has imported more goods than exporting the block. According to Eurostat data, the trade deficit of US goods was 155.8 billion euros ($ 161.6 billion) in 2023.
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However, in the services, the United States has more exports than imports with the European Union of 104 billion euros.
“There is no winner in the trade war,” he said, “If anyone spreads between Europe and the United States,” then there is a laughing China. “
Revenue in Canada, Mexico and China, which is described in three executive orders, has an impact on ET at 12:01 am on Tuesday.
Trump said he would talk to Canada and Mexico leaders on Monday, who both announced their own retaliation, but rejected expectations that they would change their mind.
“They have a lot of money, and I'm sure they are going to pay,” Trump told reporters.
Economists said the Republican president's plan to impose 25 % tax on Canada and Mexico will reduce global growth globally and prices for Americans will increase.
Trump says he needs to stop immigration and drug trafficking and encourage domestic industries.
The financial market reaction reflects on the results of the results from the trade war on Monday. Shares in Tokyo ended the day's about three percent and the Australian benchmark – which often decreased a proxy trade for Chinese markets – 1.8 percent. The mainland China's market was closed for the New Year's holidays.
Chinese yuan, Canada dollars and Mexican pace all fell against a growing dollar. High sources of US crude oil imports with Canada and Mexico, US oil prices jumped by more than 1 percent, while petrol futures RBC1 increased by about three percent.
ING analysts wrote that Trump's prices will cover about half of US imports and that the United States will need to double its manufacturing output to meet this gap.
Other analysts said prices could throw Canada and Mexico into recession and “stagnation” – more inflation, stable growth and high unemployment – at home.
In Europe, Deutsche Bank economists said they are currently factoring at 0.5 % hit for overall domestic products (GDP) that Trump should impose ten percent tax on the block.
A White House fact sheet did not give any details about what to do to win the recovery of Canada, Mexico and China.
Trump pledged to maintain them as long as he described the national emergency about the end of the Fantinel, a deadly opium, and illegal immigration in the United States.
China termed Fentenial America's problem and said it would challenge the World Trade Organization's taxes and take other response measures, but left the door open for dialogue.
Mexican President Claudia Shenbam vowed to flexibility, saying she would provide more details about retaliation on Monday, which she ordered at the end of the week. Canada will take legal action under relevant international organizations to challenge prices, Canada said.
Automatic makers will be particularly severely affected, with new prices on vehicles built in Canada and Mexico, a wide regional supply chain is burdened where sections can cross the border several times before the final assembly.
In European Trade on Monday, Volkswagen Vogue_PD, BMW BMW GDD, Porsche P 911_PD, Stellasts Stelum Dot Mi, and Truckmaker Damler Truck DTGG in Shares of DTGG about six to six The percentage has decreased.
Investment Bank Staffele analysts estimated that VW revenue will have an impact of eight billion euros from revenue and 16 billion euros.
The shares in the US major tech stock were less than the US Open, with Microsoft, alphabet, Amazon and Apple to less than 1.5 percent to two percent.
Trump imposed only ten percent duty on energy products.