In the middle of the escalating trade dispute announced by the U.S. President to Meet with his Chinese colleagues. Whether he will impose further duties on Chinese imported goods, is second to Donald Trump.
New Meeting is in the planning stage: Xi Jinping (l) and Donald Trump (archive photo)
US President, Donald Trump has decided not according to his own representation, whether it will occupy the entire imports from China with special duties. “A decision has not been made,” said Trump in Washington. He’ll try to pick a Meeting with the Chinese head of state Xi Jinping at the G20 summit at the end of next month in Japan, said Trump. He will assume that the conversation “will be very profitable”. “We trade with them. We have a very good relationship.”
The negotiations with China regarding the settlement of the customs dispute were at an impasse. “We were 95 percent through,” said the US President. Then it was explained to Beijing traveled among traders, that it should go back to things that had already been fully discussed.
Trumps Minister of Finance, Mnuchin and his trade representative Lighthizer at the beginning of may in Beijing
China’s retribution
Trumps government increased on Friday the special duties on Chinese Goods to the value of 200 billion dollars from ten to 25 per cent. China’s Ministry of Finance announced on Monday, to rise from June, additional duties on US products in the amount of 60 billion dollars.
With a view to the retaliation of the people’s Republic of Trump announced that his government intended to pay a financial compensation to US farmers. The Farmer does not suffer from marketing difficulties, if China decreases in the current extent of agricultural products from the United States.
Financial markets in turmoil
From the pages of the U.S. Central Bank (Fed) was the name of it, you have all the necessary instruments to react adequately to the consequences of the customs dispute with China. This also includes reductions in interest rates were, should it come to an economic slowdown, said the Fed-Banker Eric Rosengren. He but not necessarily that such a step was necessary.
The Dow went up on Monday in 25.324 points from the trade – a good 600 meter lower than on Friday
The fear of a trade war had drawn to Wall Street for the week of kick-off in the depth. The Dow Jones Index closed 2.4 per cent lower – the highest daily loss since the beginning of January. The Index of technology exchange Nasdaq lost as much as 3.4 percent. On the Frankfurt stock exchange, the Dax plunged on Monday 1.5 percent. After these losses the previous day, the Nikkei-225 Index slumped on Tuesday in Japan, in the first 15 minutes of trading, up 1.8 percent. In Hong Kong the Hang Seng fell by around two percent. Also, the stock markets in China were clearly in the Minus. The Kospi-benchmark index in Seoul fell on Monday to its lowest level since January, also went down, but then made up for lost ground.
The uncertainties due to the trade disputes with the United States to put a damper on the global economy. The Federal government and leading economic researchers lowered their forecast for German economic growth this year. The pressure on the export strength of the German economy. Also, the dispute between the US and the EU is not more enclosed.
wa/hk (afp, rtr, dpa)