La trade war between United States and China she returned to intensify with restrictions and tariffs. The decision to Beijing to impose restrictions in the sector of Rare landsWashington responded last night by promising new tariffs on with Chinese. The announcement yesterday caused a turnaround Wall Street in sharp decline, while investors returned to find refuge in the .
Last night Trump announced the introduction of additional taxes of 100% on Chinese exports to the United States of “any critical software" by November 1st, nine days before the current tariff relief expires. Trump also questioned the prospect of a meeting previously announced for the late October with the Chinese president Xi Jinping in South Korea, stating on Truth Social that "there doesn't seem to be any reason to do it now." "I haven't canceled it," Trump later told reporters at the White House. "I imagine we could do it." Beijing had never confirmed that meeting. However, Trump He left a crack open at the door of negotiations by saying that he might retire from its massive tariff escalation if the Chinese were to march Trump backtracked on threats of restrictions on rare earths and said he still had a chance to meet with Xi before the end of the month. "That's why I put the date on November 1st," Trump said. "We'll see what happens."
I new duties announced by Trump would bring the rates on imports of many Chinese products 130% starting next month, just below the 145% imposed earlier this year, before both countries agreed to cut taxes, initiating a kind of truce.
China's move on rare earths
The new measures were Trump's reaction to the fact that this week the China, just returned from the Golden Week holidays, has announced new restrictions on export rules Rare lands and related technologies. A decision defined by Trump as "shocking" and after all China produces over 90% of the Rare lands work and some magnets of the world: many of them are essential materials for technological production, from electric vehicles to aircraft engines and military radar.
What had seemed like a truce in relations between Beijing and Washington over the past six months has thus abruptly ended. Analysts say the restrictions on software shipments from the United States to China could represent a hard blow for the US technology industry, including cloud computing and artificial intelligence. Trump has also threatened new export controls on aircraft and aircraft parts, and it's possible the administration is exploring other potential targets.
"Trump's post could mark the beginning of the end of the tariff truce," says Craig Singleton, China expert at the Foundation for Defense of Democracies, adding that Washington views China's export control measures as a betrayal. Calling China's moves a "hostile order," Trump said he was forced "to counter their move financially."
“For every element they have managed to monopolize, we have two,” Trump said.
Le tensions had already increased in recent daysOn Thursday, the Trump administration proposed banning airline companies Chinese to overfly Russia on routes to and from the United States. Yesterday, the U.S. Federal Communications Commission announced that major U.S. online retail websites have removed millions of Chinese electronics listings.
Market Reactions: Wall Street Down, While Gold Returns to Safe Haven
Trump's unexpected broadside has shaken global financial markets, causing the benchmark index to collapse S & P 500 with a drop of more than 2%, the largest single-day decline since April, when Trump's barrage of tariffs began. The Nasdaq 100 index fell 3,5%.
The S&P 500 Technology Index closed down 4% el'semiconductor index' down 6,3%. Even the Chinese stocks listed in the United States have suffered a decline: the e-commerce company Alibaba Group Holding closed at -8,4% and JD.com Inc. lost 6,2%. Wall Street technology stocks continued to decline. even in after-hours trading after Trump detailed the tariff and export control measures.
Investors have found refuge in the safe harbor of the , which has risen above $4.000 an ounce, and U.S. Treasury securities, while the dollar The US dollar weakened against a basket of foreign currencies. Prices of the Petroleum fell more than $2 a barrel, as trade concerns cast a shadow over the demand outlook.
