China hits back hard in global trade war with tariffs on US goods

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China on Friday announced 34 percent additional prices on US goods, the most serious increase in the trade war with President Donald Trump, which has raised recession and mobilized the global stock market route.

Standing among the world’s first two economies, Beijing also announced control over the export of some rare land and lodged a complaint with the World Trade Organization.

It added 11 companies to the list of “incredible institutions”, which allows Beijing to take sanctions against foreign entities, including firms linked to the sale of weapons to a democratically -ruled Taiwan, which China claims as part of its area.

Trump has prepared retaliation in a growing trade war in Canada to China, from Canada to China, after increasing the barriers to the US tariff over a century this week, which has reduced global financial markets.

Investment Bank JP Morgan said it is now seeing a 60 % possibility of the global economy, which enters the recession by the end of the year, which was more than 40 % before.

The US stock future fell sharply on Friday, indicating further losses on Wall Street, after which the Trump administration’s broom levies knocked $ 2.4 trillion from the US equity.

“China swings with aggressive reactions to Trump’s prices,” said Stephen Acolo, London, Market and Equity Strategist.

“This is important and it is unlikely to end, so the negative reaction of the market. Investors are afraid of ‘tight’ for the ‘tate’ trade war situation.”

Shares of large tech stocks fell into the premier trading, with companies like Apple and Navalia being exposed to China and Taiwan for producing their products.

In Japan, one of the top trade partners in the United States, Prime Minister Shigro Esba said that the prices created a “national crisis” as a bedside in banking shares on Friday, which established Tokyo’s stock market for its worst week in the years.

US Secretary of State Marco Rubio disagreed on any economic accident on Friday, and told reporters that the markets were reacting to the change and would be adjusted.

“Their economies are not being destroyed,” he said at a press conference in Brussels. His markets are reacting to dramatic changes in global trade in terms of trade. ” “Markets will be adjusted.”

Division and mixed signals

The European shares will be facing the biggest weekly loss in three years, with the European Union’s trade commissioner Maros Saifkoich talking to US counterparts.

“We will not shoot the hip on social media – we want to talk to every opportunity to find a fair deal in the interest of both sides,” he said on social media.

The European Union is divided on how to respond to Trump’s prices, including its use of ‘anti -screening tool’, which allows the block to retaliate against third countries that put economic pressure on EU members to change their policies.

Countries that are cautious about retaliation and thus increase stake in standing with the United States include Ireland, Italy, Poland and Scandinavian countries.

French President Emmanuel Macron on Thursday led the allegations demanding companies to freeze investment in the United States.

However, French Finance Minister Eric Lombard later warned against such retaliation on US taxes, and warned that it would also fall on European consumers.

“We are working on a reaction package that once again, to bring the dialogue table and reach a fair deal, once again,” Lomobard told Broadcaster BFMTV.

There were contradictory messages from the White House to whether the taxes wanted to be permanent or the privilege of receiving the privileges, Trump said, “He gives us a great power to talk.”

Everything from US prices to Bang to Apple’s iPhone can increase the cost of US buyers. Based on the Rosen Bluettirs estimates, Apple can cost about $ 2,300 on a high -end iPhone when costing costs to users.

Businesses have run to adjust. Automacker Stellats said it would temporarily leave US workers and nearby plants in Canada and Mexico, while General Motors said it would increase US production.

China is responding to Trump’s 54 % of Trump’s revenue on imports from the world’s No. 2 economy. The European Union faces 20 % duty.

“Others have probably learned their lessons (from the last of Trump),” said Eddie Kennedy, head of the Baspock Sabbathi Fund Management, London, Baspock.

“They’re fighting and saying that we can play a game like you and we are more in a position to communicate.”

Japan, South Korea, Mexico and other trade partners, including India, said they would stop any retaliation after they wanted privileges. The British Foreign Minister said he was working to work on an economic deal with the United States.

Trump says “mutual” taxes are a response to the barriers placed on US goods, while administration officials have said that the revenue will generate manufacturing jobs at home and open export markets abroad, though they have warned that the results will take time to see.