All of Trump's duties are coming into effect, and the tariff for China has increased to 104%. What the media is writing
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- All of Trump's duties are coming into effect, and the tariff for China has increased to 104%. What the media is writing
Shortly before the planned April 9 entry into force of all tariffs, which were previously announced by US President Donald Trump, duties for China increased to a total of 104%. The White House claims that about 70 countries are seeking a deal to reduce fees, while Beijing has been denied negotiations. What the media write about the escalation of the trade war is in the Izvestia digest.
CBS News: tariffs for China to rise to 104%
US tariffs on Chinese goods will rise to 104% from April 9. This was announced a day earlier by White House press Secretary Caroline Leavitt. On April 7, Trump threatened to impose an additional 50 percent tariff on imports from China after the country said it would impose a retaliatory 34 percent duty on American goods. The president also said that the United States will stop all negotiations with China, but will continue trade negotiations with other countries.
CBS News
"To countries around the world: send us your best suggestions, and he'll listen to you," Leavitt said of Trump. "Deals will only be made if they benefit American workers." She added that 70 countries have already applied to the White House with a proposal to start negotiations and, presumably, reduce their tariff rates in exchange for concessions that Trump considers beneficial for the United States.
According to Leavitt, China made a mistake by deciding to take retaliatory measures. She also stressed that Trump is firmly committed to bringing production back to the United States. He shares the belief that America cannot depend on foreign countries for food, medicine, and essential minerals.
Associated Press: stock markets are falling due to the entry into force of new tariffs
Asian and European stocks are declining on April 9, when all the tariffs announced by Trump take effect. Japan's Nikkei 225 index closed down almost 4%, Germany's DAX lost 2.1%, Paris's CAC 40 fell 2.1%, and Britain's FTSE 100 lost 2%. At the same time, Chinese markets rose after regulators intervened, urging state-owned companies to buy shares.
Associated Press
Analysts warn that further fluctuations in the markets should be expected, given the uncertainty about how long Trump will maintain tough import duties, which will raise prices for buyers in the United States and slow down the economy. If they last long, economists and investors expect them to cause a recession. If Trump reduces them through negotiations relatively quickly, the worst-case scenario can be avoided.
There is still hope on Wall Street that negotiations are possible. According to chief U.S. trade negotiator Jamison Greer, Trump has made it clear that he does not intend to introduce any exceptions.
Reuters: China to hold high-level meeting in response to US duties
China's top leadership plans to hold a meeting on April 9 to discuss measures to stimulate the economy and stabilize capital markets amid the escalating trade war with the United States. The meeting is expected to be attended by senior officials from the State Council, a number of government and regulatory agencies, including the People's Bank of China and the Ministry of Finance.
Reuters
Although Beijing announced retaliatory tariffs on the United States last week and promised to fight what it considers blackmail, analysts say it feels cornered by Trump's tariff attack on China and any country that buys or collects Chinese goods.
Some measures to stimulate the world's second largest economy may be implemented in the coming weeks. The escalation of the trade war between China and the United States is taking place against the background of the fact that the Chinese economy is under pressure from the protracted crisis in the real estate market and the high level of debt of local authorities, which undermines the confidence of both businesses and consumers.
CNN: Trump has stated the desire of other countries to make deals with the United States
The White House is working to ensure that as many countries as possible conclude a deal with the United States in exchange for easing tariff policy towards them. Many of them receive advice from American diplomats urging them to think creatively and go beyond trade in preparation for negotiations with Trump.
CNN
CNN"These countries are calling us. They're dying to make a deal," Trump told a group of Republicans on Tuesday evening, hours before the tariffs were due to take effect. He described foreign leaders who, in fact, groveled to avoid new duties.: "Please, please, sir, make a deal. I'll do everything, sir."
The ideas discussed include possible actions to ensure the freedom of Americans detained abroad, commitments to cooperate with American companies engaged in artificial intelligence, the purchase of more American energy resources, or the fight against the global drug trade. Trump's advisers hope to receive results soon that will demonstrate the success of his tariff plan.
Financial Times: Trump's tariffs hinder the opening of new factories in the United States
Companies such as Apple, Diageo and Johnson & Johnson rushed to announce investments of $1.9 trillion in the United States after Trump's election, including to increase production capacity. But the search for real estate, the design and construction of factories, as well as obtaining permits and ordering production equipment will take years, and many factories are unlikely to be built before the end of Trump's second term. Company executives warn that due to tariff uncertainty, it will be too risky to invest billions of dollars in building new plants.
Financial Times
In most cases, it will take three to 10 years to build a new manufacturing facility in the United States," said Erin McLaughlin, an economist at the Conference Board with expertise in design and construction. "Everything takes time before you can see a congressman with a shovel in his hands," she added. Companies seeking to protect their supply chains may resort to internal acquisitions instead of starting construction from scratch, she said. "It might be faster to buy a company than to build a new factory."
Even for a small factory, reaching production capacity can be a slow and expensive process. Volvo Cars has invested about $1.35 billion in its South Carolina plant since it opened in 2015. The plant began production three years later and currently has a total annual production capacity of 150,000 vehicles, which is the minimum required for the construction of a new plant in the United States to be economically feasible.
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