A ray of hope rises with great caution among the Asian markets tormented by Trump's tariff impositions: it is the Japan leading the rally with a +6% on expectations that it will take precedence in trade talks with the United States, while the China was supported by institutional aid. Treasuries are also rising after Monday's sharp sell-off, along with futures contracts on Wall Street, which closed last night near parity. The Petroleum he earned while their rises for the first time in four days. The dollar slipped against its major peers. Futures also point to a rebound for European stocks.
The magic word now is “negotiations”
There is still a lot of confusion on the crucial issue of tariffs, but the most recurring word is “negotiations”. US President Donald Trump said that in some cases they could be permanent and in others they could be negotiated and he even doubled down on the stakes with China, threatening additional duties of 50% that would bring the overall total well above 100%. Later in the evening, the Treasury Secretary Scott Bessent he provided some clarifications during the usual interview with Fox News. Customs tariffs, it is hoped, could come down with the start of wide-ranging negotiations with trading partners. For countries that do not retaliate, the one announced last week is to be considered the maximum tariff level. The Treasury Secretary said that perhaps nearly 70 countries have approached the United States, “so it will be an intense April”, May, maybe until June”.
Even Elon Musk, the founder of Tesla and a top White House adviser, has appealed directly to President Trump to reduce the severity of his trade tariffs. According to the Washington Post, Musk made his case to Trump personally, but ultimately failed to change the president’s mind. Although Tesla manufactures all of its cars sold in the United States on American soil, it still imports many components from China and other countries that are subject to U.S. tariffs.
But not everyone is optimistic. TheCEO of JP Morgan, Jamie Dimon, warned of inflation and a slowdown in the US economy, while BlackRock's CEO, Larry Fink, said that stock markets could suffer a further 20% decline, as steep U.S. tariffs lead some investors to believe the U.S. economy may already be contracting.
Wall Street recovers in the final and closes near parity
Wall Street didn't exactly have a stellar day, although an overall flat close was a welcome respite from a 10% plunge in the previous two sessions. The most notable part of Monday's trading was the volatility, with the VIX (.VIX), the fear gauge, rising above 60 for only the second time since the pandemic. The Dow Jones closed down 0,91%, continuing a streak of three straight losses that began last Thursday. The S&P-500 lost 0,23%, closing at 5.062 points. The Nasdaq 100 (+0,19%) and the S&P 100 (-0,06%) were flat.
Japan leads Asia rally with +6%
The settling on Wall Street yesterday opened the way to the Asia Pacific stocks reboundThe reference indicators to Tokyo rose more than 6%: Japan looks set to take priority in US tariff talks, moving ahead of a slew of countries seeking to reduce tariffs ahead of their implementation. Actions by Nippon Steel up 11%, after President Donald Trump launched a new review of the plan to acquire U.S. rival U.S. Steel, which was blocked by former U.S. President Joe Biden. yen weakened again to 147,2 against the dollar, from a six-month high hit yesterday. “I expect Japan to get priority among trading partners because it has come forward very quickly,” he said. Besent during an interview. Bessent will be joined in the negotiations by Jamieson Greer. In Tokyo, Japanese Prime Minister Shigeru Ishiba has called a full cabinet meeting for today: the summit should name the head of the delegation charged with carrying forward the negotiations in Washington. "Any truce from tariffs would significantly change the trajectory of Japan's growth and political outlook," writes Taro Kimura, an economist at Bloomberg intelligence – but Trump remains deeply concerned about the US trade deficit with Japan, particularly in the auto sector.”
China warns Trump that it will not bend. Institutions intervene to support the market
La China Instead, it does not bend, but instead buys shares: stocks have risen as state-linked funds have bought up assets and the central bank has promised loans to help stabilize the market. Hong Kong's Hang Seng bounces +1,5%. CSI 300 of the price lists Shanghai and Shenzhen +1%. Instead, the Taiex index falls again Taipei, -4,5%. The Yuan loses ground, at 732 to the dollar: the Chinese currency hits its lowest since 2023. A group of government-linked investment funds Chinese are planning to buy shares in an attempt to support the market. China Reform Holdings has earmarked 80 billion yuan ($10,9 billion) to increase stakes in state-owned enterprises and technology firms, as well as to buy exchange-traded funds. Earlier on Tuesday, sovereign wealth funds Central Huijin Investment and China Chengtong Holdings Group announced similar plans. “Buying directly in the market is one way China can immediately address the impact of U.S. tariffs and stabilize sentiment a bit,” said Steven Leung, executive director of UOB Kay Hian in Hong Kong. “But they will also need to do more stimulus,” including rate cuts and fiscal spending. A basket of eight exchange-traded funds saw a record net inflow of 42 billion yuan on Tuesday.
In the meantime, Beijing warns Washington it will not bend to the threat of new tariffs by Donald Trump. “We have stressed more than once that pressuring or threatening China is not the right way to interact with us. China will firmly safeguard its legitimate rights and interests,” Liu Pengyu, spokesman for Beijing’s embassy in the United States, told AFP. China will never accept the “blackmailing nature” of the United States and considers the latest tariff threats made by US President Donald Trump “one mistake after another mistake“. This was stated by a spokesperson for the Chinese Ministry of Commerce tonight. However, the US President also promised additional duties of 50% on Chinese imports if Beijing maintains its retaliatory duties, dampening optimism.
La Mumbai Stock Exchange rises, BSE Sensex index +1%. The Indian government has so far not officially responded to the 26% tariff on imports imposed by US President Donald Trump. The Ansa writes that the country will not react, while information about talks between the Indian government and Washington is filtering out. Asian Emerging Markets were punished with one of Trump's highest tariffs, with no let-up in the rush for stocks. The benchmark of the Thailand fell to a five-year low and Indonesia returned after a week-long hiatus with a 9% plunge in the stock market and a record low for the rupee. Vietnam will buy more American goods, including defense and security products
European Union has a list of countermeasures ready
THE XNUMX-XNUMX business days last night drew up a list of US products on which it plans to apply 25% tariffs as a countermeasure to Trump's decision last month to impose import duties on aluminium and steel. Instead, it ruled out a planned 50% tariff on American whiskey, as requested by opposing member states in a bid to spare European wine and champagne producers the 200% tariffs Trump has threatened in retaliation.
The European Commission, the Union's executive body, shared a document listing dozens of product categories of various kinds, including diamonds, motorcycles, pleasure boats, household appliances, safety glass, playing cards, tobacco, poultry and other agricultural products. Most of them are subject to a 25% tariff, but some would be hit with a 10% rate.
EU member states aim to approve the plan by the end of the week and it would take effect on April 15, although most of the duties would not be levied until mid-May. Tariffs on soybeans and several types of nuts would take effect on December 1.
European stock markets attempt to rebound. At Piazza Affari, eyes on Banco Bpm and Mediobanca
European investors, still reeling from a three-day plunge of nearly 12% in their regional stock benchmark, are waking up to a futures market pointing to a 2,4% gain.
Snam: buys 24,99% of Open Grid Europe for 920 million. Oge, explains a note, is the largest independent gas transport operator in Germany, which manages a network of about 12.000 kilometers, with about 21 billion cubic meters of redelivered volumes per year and over 400 end customers.
Stellantis has asked McKinsey for assessments of Alfa Romeo and Maserati in light of recent US tariffs, a spokesperson for the two brands said, as they work on their development plans under the head of Santo Ficili. Bloomberg had initially reported that Stellantis has asked McKinsey for strategic advice on Maserati and Alfa, including options for the future of the two brands.
Eni is evaluating further possible divestments of upstream activities following the recent agreement with Vitol in Africa.
Bper, which launched an all-share purchase offer on Popolare di Sondrio, purchased 0,34% at 8,8365 euros per share.
Fincantieri and Carnival Corporation have signed an agreement for the construction of two new cruise ships for Aida Cruises, the leading company in the German-speaking cruise market. The value of the agreement has been defined as “very significant”. For the first time, Fincantieri will build cruise ships for Aida Cruises, thus strengthening its strategic partnership with Carnival Corporation. The two ships will be delivered, respectively, at the beginning of 2030 and at the end of 2031.
Banco BPM, which holds 5% of the capital of the Sienese bank, would be ready to support the takeover bid launched by MPS on Mediobanca, a move that could pave the way for a three-way marriage. It is written The print
Enel. HSBC raises target price.
Italgas. After the support of Cdp Reti, the largest shareholder with 26%, Lazard, a partner with 9,7%, will also subscribe to the capital increase at the meeting on April 10, which will serve to acquire 2i Rete Gas, according to what Mf reports
Pirelli. In an interview with the Republic, Vice President Marco Tronchetti Provera said that in some US states there have been reservations about the presence of Chinese shareholder Sinochem. With Sinochem “we are working constructively, we have proposed market-friendly solutions,” Tronchetti explained. “We will find a way, in the interest of Pirelli, to comply with American laws. It is too important a market not to be able to play on equal terms with our competitors,” he said.
Prysmian . Goldman Sachs cuts target price.
