The United States refused the European proposal of zero duties on industry and cars. Meanwhile, Beijing renounces Boeing. Trump reiterates: “It is China who has to make an agreement with us”.
The first interviews on the duties between the Tuesday 15 April between the Commissioner of the European Union for Commerce did not produce results, Maros sefčovičand the American administration.
To bring it back is Bloombergciting some sources, according to which American officials have made it known that most of the duties on the EU will not be removed immediately. Europe’s proposal concerned the removal of all existing rates on industrial assets, including cars. However, this proposal was considered unreachable by the American counterparty.
To explain the content of the interviews, which took place yesterday, was also one of the spokespersons of the European Commission Olof Gill. The European proposal aimed to “work to obtain mutual rates zero for zero for all industrial goods, including cars”.
In addition to this, there was also “of the theme of global surcharge in the steel and aluminum sectors, the resilience of our supply chains in semiconductors and pharmaceutical products”. Despite the inconclusiveness of the first round of interviews, the EU “will continue to face these interviews in a constructive way. It is clear that significant joint efforts will be needed »to get to an agreement with Washington.
As known, the United States announced a 90 -day break on the rates imposed on the whole world on April 9 (keeping a “mini” duty of 10%). According to the EU spokesperson, the union is “doing its part. Now it is necessary that the United States call their position. As in any negotiation, this must be a double sense road, a double sense commitment, with both sides that bring something to the table ».
Even the European retaliation duties have been suspended, and they will be until July 14, the date by which we hope to find a solution to the commercial war that brought unprecedented volatility in the financial markets of the whole world, as well as having made the interests of the interests of the American Treasury rang and have made the dollar weaken.
Over 400 American products identified for the European retaliation on duties, from Harley Davidson to cigars, even if the hope is to be able to avoid a fracture so heavy between the two banks of the Atlantic. The investigations on Apple and Meta also concluded, where the Big Tech fines seem imminent: the decision is expected “shortly” is accompanied by the hypothesis of a web tax feared by von der leyen herself.
And precisely on the subject of volatility, the only news of Bloomberg about the inconclusiveness of the first rounds of interviews was enough to make the American stock exchange indices lose several points, which they had opened up.
China renounces Boeing
In the morning another move of the war of duties between the United States and China took place. In fact, Beijing has ordered his airlines not to accept the Jet deliveries of the American Boeing further. Also in this case, Bloomberg reported the news, citing sources close to the dossier. At the moment the United States impose duties of 145% on the products imported from China, while the dragon applies a rate of 125%.
With the new monstrous duties, the costs for planes and the relative Boeing components “have significantly increased”, making the new deliveries “no longer sustainable” from a financial point of view. Here, therefore, that Beijing asked his airlines to “suspend any purchase of aeronautical equipment and components from US companies” and to obtain a preventive approval for already planned deliveries.
Although some Boeing 737 Max models already intended for Chinese companies can still receive approval (with a case -by -case basis), the situation remains complex. The duties war combines with the reliability problems that are plaguing the aircraft of the American company. A hard blow to Boeing, whose exports to China until some time ago represented almost a quarter of its global deliveries.
The response of the American President Donald Trump It was not long in coming, and arrived in a post on his social network, Truth. “It is interesting to note that they have just denied a great agreement by saying that they will not take possession of aircraft on which they are completely committed.” Specifying in the afternoon, by means of the spokesperson Karoline LeavittThat “The ball is in the hands of China, they are the ones who have to make an agreement with us, not the opposite». The United States are waiting.
Today the visit of XI Jinping in Vietnam, during which the president the Premier Vietnamita Pham Minh Chinh He invited the president of Comac (the Chinese company that produces aircraft), he dongfeng, to invest in maintenance, repair and assistance for planes in Vietnam, thus opening the Vietnamese market to the Chinese aeronautical industry. The premier also expressed interest in future collaborations on the purchase and leasing of aircraft. For Boeing, the reaction of the markets did not expect, with the shares of the American giant that immediately opened downwards, losing 2.13%.
The war of duties is only at the beginning, in short, and also volatility and uncertainty are here to stay.
