The president of the United States, Donald Trump, Great increase in rates has activated a Increasing commercial war and global sent The markets collapse.
The sANDP 500 fell 6% on Friday, the Dow Jones Industrial Avenge fell 5.5% and the Nasdaq compound fell 5.8%.
Porcelain announced on Friday that it will impose a 34% tax on all imports from the USA next week, part of a series of retaliation measures to the new Trump rates.
Trump has doubled his commitment to tariffs, maintaining that his new levies will bring billions of investment to the United States and at the same time criticize the reprisal measures of other countries.
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Italian Economy Minister Giancarlo Giorgetti warned that imposing retaliation tariffs in the United States would be harmful to both Italy and Europe.
Speaking in a business forum in Cernobbio, near Milan, Giorgetti said on Saturday that Italy is working for a “decallation” with the United States after Trump’s announcement of a 20% general tariff in the countries of the European Union.
“We should avoid launching a counter-tariff policy that could be harmful to all and especially for us,” Giorgetti said. “Our message is that we must avoid pressing the panic button … we are following a pragmatic and rational approach.”
Giorgetti proposed that the EU allow member states to increase spending relaxing the fiscal rules of the block.
Italy has a very limited budget maneuver margin, since the government predicted its giant debt that increases to 2026 to almost 138% of GDP.
“Italian public debt means a reduced budget room for our country, a restriction that must be taken into account in any decision we make,” said Giorgetti, also referring to EU’s plans to increase defense spending.
Taiwan says it will provide a fund of $ 2.65 billion to help the industries most affected by US tariffs.
Taiwan has a commercial surplus with the United States, but much of it comes from Taiwanese industries that try to meet the US demand for Taiwan information technology products. The authorities say that Taiwan plans to negotiate with the US.
Prime Minister Cho Jung-Tai has been accused of working closely with the affected industries and communicating the public about their plans to stabilize the economy. Cho said Friday that electronics and information technology, steel and metal, machinery, car parts, construction materials and appliances will feel “significant impacts.”
In the agricultural field, the orchids of the moth, the edamame and the fish such as tilapia, common dolphins and bass will be the most affected, he said.
