The main agreements promised by Donald Trump to end the commercial war take to take shape, while Europe warns that any commitment is “still far” and after China denied on Thursday, April 24, until the existence of discussions.
“We are not going to hide that we are still far from an agreement,” said Eric Lombard Minister of French Eric Lombard.
The US President continues to promise “agreements” with all the commercial partners of the United States.
“We are talking to China,” said the Republican on Thursday, who repeats that he wants a “fair” agreement with the second world power, which will result in a “substantial” fall in surcharges imposed on Chinese products.
Donald Trump did not specify who participated in these discussions, believing that “it was not importance.”
There are no commercial negotiations in progress according to China
Its commercial offensive led to 145% of additional customs duties in Chinese products that entered the United States, and 125% decided in retaliation for Beijing over goods of the United States.
“There are currently no current commercial negotiations between China and the United States,” said a spokesman for the Chinese Ministry of Commerce, He Yadong.
The existence of these discussions is “false information,” Guo Jiakun, spokesman for the Chinese Ministry of Foreign Affairs, also hit Thursday.
Outside China, Donald Trump had begun announcing very heavy global customs rights, before returning them to a 10% general rate to all countries, and setting the deadline for negotiating commercial treaties.
He also launched sectoral customs duties and leads a separate commercial offensive against Canada and Mexico, for the moment to a large extent suspended.
The White House ensures that it has been contacted by 90 countries and says that until now it has received 18 trade agreements written in commercial agreements.
The Minister of Finance, Scott Besent, said Thursday that a “Framework Agreement” could conclude from “next week” with South Korea, a country with which the United States is subject to a free trade agreement in force in 2012.
The American executive tries while waiting for the expected impact of certain customs taxes in the American industry, which imports raw materials and mass components.
A protectionist offensive
A White House official states that the Government sought, for example, to “rationalize” taxes on the automotive industry, confronted both with sectoral customs rights aimed at spare parts and customs tasks on steel and aluminum.
With respect to Beijing, the tone does not seem frankly relaxing.
The US president violently criticized China’s refusal to take the delivery of new American Boeing aircraft and denounced the entrance to fentanyl in the United States, so he returned to Beijing, and added: “He has to stop now.”
And in regards to the EU, the White House has described the strong fines inflicted by Brussels to the American Giants of Apple and Meta Tech as “extortion fines”.
The protectionist offensive launched by Donald Trump, who is supposed to restore the trade balance, to draw the budget deficit and reindustrialize the United States, gives cold sweats to entrepreneurs and consumers, worldwide.
Financial markets in uncertainty
The American giant of En-Cas and Pepsico drinks, for example, reduced his forecasts throughout the year on Thursday, due to the “uncertainties” caused by the commercial war.
Japanese manufacturers Toyota, Nissan and Honda saw their car sales fly in March in the United States, motorists rushed before customs tasks upload prices.
The Taiwanese government has announced a special budget of 410 billion Taiwanese dollars (11.1 billion euros) to stimulate the economy and protect the island from the effects of new US customs rights.
As for the stock market markets, which go from slides to rebounds according to the statements of the White House tenant, “they seem a bit lost,” said Kathleen Brooks, director of Research at XTB, commented Thursday, summarizing the general feeling.
Source: BFM TV
