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Customs war escalates: Trump's threats are shaking stock markets worldwide!
US President Trump increases tariffs on China and initiates a 90-day tariff pause for over 75 countries. International markets react negatively.
Customs war escalates: Trump's threats are shaking stock markets worldwide!
US President Donald Trump recently announced a comprehensive realignment of American customs policy. Central to these changes is the increase in tariffs on imports from China. At the same time, Trump announced a 90-day tariff “pause” for more than 75 international trading partners, while the US government plans to negotiate numerous trade agreements within this period.
Over 75 countries have already contacted the US government, and more than 15 countries have made concrete offers. Trump's advisory staff has also reportedly been restructured: his top customs advisers have been demoted, while Treasury Secretary Scott Bessent has been highlighted as a more level-headed adviser.
In response to Trump's actions, the Chinese government increased counter tariffs on US goods from 84 to 125 percent. EU Commission President Ursula von der Leyen has also announced that the EU will suspend counter tariffs on US products for the next 90 days. Trump called this move “very smart.” The EU also plans to suspend its retaliatory measures on steel and aluminum imports for 90 days.
Reactions and further developments
Despite the temporary tariff break, Trump remains tough in his tariff policy. He rejects an agreement offered by the EU that was intended to avert impending tariffs of 20 percent on exports to the USA. Instead, Trump is calling on the EU to increase its energy imports from the US to offset the trade deficit. He also criticizes the EU for unfair trade practices and a lack of purchases of US products.
In addition, Trump is threatening China with further tariffs of up to 50 percent on Chinese goods, which would raise the total tariffs to 104 percent. The Chinese Ministry of Commerce has already reacted and is calling on the USA to lift unilateral tariff measures and resolve differences through dialogue.
The reactions of the financial markets to the tariff policy are anything but positive: stock exchanges around the world are worried, with dramatic price falls, especially in Hong Kong and Germany. The DAX experienced its third trading day in a row with heavy losses, while the Nikkei index in Japan fell by around seven percent. Trump's announcement affects almost every country in the world and leads to massive turbulence on the stock markets.