Commercial conflict: High noon for China – Trump gives Beijing until noon

In the global trade conflict started by US President Donald Trump, the clock is now ticking for China. Trump gave the Chinese leadership at an appointment in the White House until Tuesday 12:00 p.m. (6 p.m. CEST) time to withdraw the counter tariffs announced by Beijing in the amount of 34 percent. But the answer from Beijing immediately followed: if the USA continues to exist in this way, “China will definitely accompany it to the end,” said the Beijing Ministry of Commerce.

Trump had threatened to reception for the Israeli head of government Benjamin Netanyahu that he would take China with additional tariffs of another 50 percent if Beijing should not give in. The new tariffs for China would be imposed on Wednesday, Trump warned – on this day the second part of the huge American customs package should come into force. According to the 10 percent basic tariffs already applicable, it is planned to be significantly higher tariffs for countries with which the United States have a particularly large trade deficit from the government’s point of view. This also includes the EU.

China is unimpressed

If the United States continues to escalate its customs measures, “China will take countermeasures to protect its own rights and interests,” said the Chinese Ministry of Commerce.

For China, the new penalty measures of 50 percent would already mean additional tariffs of more than 100 percent that have been imposed by Trump since Trump took office. The United States had initially occupied 20 percent tariffs from China since January. The new worldwide tariffs provide another 34 percent for China. Trump had previously written that China had imposed his “retaliation tariffs” of 34 percent despite his warning that he would collect further tariffs if a country should take such countermeasures.

Trump rejects dust for tariffs

Trump rejected a suspension of the tariffs at the meeting with Netanyahu. “Well, we don’t intend to do that,” said Trump to a question. Previously, representatives of the White House had already described corresponding speculations about the exposure of the tariffs as fake news. There are many countries who wanted to negotiate with the United States, Trump said at a reception for the Israeli head of government Benjamin Netanyahu. He called the Japanese Prime Minister Shigeru Ishiba with whom he spoke in the morning.

At the meeting with Netanyahu, the American president also showed that accommodation is not necessarily useful. The Israeli head of government had announced that Israel would reduce the already low tariffs and trade barriers to the United States. When asked whether the USA would also reduce the planned additional tariffs of 17 percent to Israeli products, Trump said: “Maybe, maybe not” and added: “Don’t forget that we help Israel a lot.” The United States would support Israel every year with $ four billion. With a smile he turned to Netanyahu and said: “Congratulations, by the way.”

EU strives for negotiations

Meanwhile, the European Union continues to try de -escalation: it offers the United States an agreement to mutual cancellation of all tariffs on industrial goods. Despite Trump’s pay decisions, the European Union is ready to negotiate, said EU Commission President Ursula von der Leyen in Brussels. However, it also made it clear that the EU continued to prepare possible countermeasures in the event of a failure of negotiations. The United States wants to take imports from the European Union countries on Wednesday with an additional 20 percent inch.

The German economy threatens considerable export losses to the United States if Trump stays with the tariffs imposed. “That would have a very significant impact, you shouldn’t be naive,” said the executive finance minister Jörg Kukies in ZDF- “Today Journal”. According to Kukies, German exports to the United States would decrease by around 15 percent, according to Kukies.

After a descent, lower losses on the stock exchanges

The descent at the New York stock market was recently slowed down. After massive initial fluctuations, the Dow Jones Industrial settled at a lower level and closed 0.91 percent at 37,965.60 points. The S&P 500 market width fell by 0.23 percent to 5,062.25 points. Nasdaq 100, dominated by the large technology stocks, initially fluctuated significantly and ultimately rose by 0.19 percent to 17,430.68 points.

Trump wants to correct alleged trade weights with tariffs and move production to the USA. At the same time, customs revenues should serve to at least partially counter its expensive election promise of large tax cuts.