US government claims to be open to negotiations and willing to reach ‘tailored’ agreements with countries affected by rates
New of the against almost 60 countries, including a 104% surcharge to products from came into force on Wednesday (9) and caused the fear of a new day of significant fall in the bags. The rates came into force at 0:00 am of Washington (1h00 Brasília) and affect, among others, the 27 members of the European Union (EU), in this case, at a rate of 20%. For China, the main economic rival of the United States, the White House has announced new rates that, added to the existing ones, total 104%, as the Asian country has stated that it will fight “until the end.”
“We will continue to adopt firm and blunt measures to safeguard our legitimate rights and interests,” China’s Ministry of Foreign Ministry reiterated on Wednesday. Parallel, Beijing does not rule out negotiating with the United States “through the dialogue on an equal foot and with mutually beneficial cooperation,” according to an official document published by the Chinese press.
After a slight recovery on Tuesday, the scholarships re-plummered on Wednesday in the fear of the consequences of the trade war for consumption and economic growth. In Japan, the Nikkei index ended the fall day of 3.93%, while yen, Japanese currency considered a refuge value, recorded appreciation of 0.7% over the dollar. Other Asia markets also closed in free fall, such as Taipe (-5.8%) and Seoul (-1.73%).
In Europe, the scholarships began Wednesday in significant fall. In the first minutes of operations, Paris lost 2.84%, Frankfurt 2.37%, London 2.31%, Madrid 2.79%and Milan 2.78%. In a demonstration of panic in international markets, oil records the lowest quotes in four years, about $ 60 the barrel. The Association of Southeast Asian Nations (Asean), which has 10 members, including Vietnam, affected by a 46%tariff, asked on Wednesday that countries “act with courage” to respond to the risk of a trade war.
– tailored agreements
Faced with Panic, Washington claims to be open to negotiations and Trump has stated that he is willing to reach “tailored” agreements with countries affected by tariffs. During a dinner with representatives of the Republican Party, the president celebrated that dozens of countries – including China, according to him – “being doing everything possible” to seek an agreement. In Europe, the president of the European Commission, Ursula von der Leyen, defended actions to “avoid climbing” during a telephone conversation with Chinese Prime Minister, Li Qiang.
According to a European spokesman, the bloc could present his answer “early next week.” The EU studies applying 25% rates to a series of American products. The block has decided, however, to exclude Bourbon to avoid reprisals against European wines and liqueurs, according to a list to which AFP had access. “The goal is to reach a situation in which President Trump reverses his decision,” French President Emmanuel Macron said on Tuesday.
Analysts and economists fear that the trade war started by Trump to harm the world economy, with risks of inflation, unemployment and drop in growth. UN Secretary-General Antonio Guterres said he was “particularly concerned about the most vulnerable developing countries,” where the impacts will be “devastating.”
* With information from AFP
Posted by Victor Oliveira
