Additional customs duties applied to Chinese products by the United States have reached the level of 145%, as stated in a White House decree published on Thursday outlining the conditions for the new offensive against Beijing announced by Donald Trump on Wednesday.
To the 125% increase in customs duties imposed on China announced by Donald Trump on Wednesday, an additional 20% is now added to the ones that were applied at the beginning of March, in the fight against fentanyl trafficking, a powerful opioid causing a serious health crisis in the United States.
Therefore, all new tariffs imposed on China are added to those that already existed upon Donald Trump's return to the White House.
The document confirms the temporary suspension of applying certain tariffs to other countries, reports AFP.
All major sectors rise on European stock exchanges
European stock exchanges recorded the best session in the last three years on Thursday, following the temporary pause in the increase of U.S. tariffs.
European stock exchanges ended Thursday with strong gains after U.S. President Donald Trump announced a temporary suspension of new tariffs imposed on most U.S. trading partners, despite persistent uncertainties on Wall Street, CNBC reports.
The pan-European Stoxx 600 index closed up by 3.7%, marking the best session in the last three years.
All major sectors posted gains, led by banks (+5.15%), industry (+4.9%), and technology (+4.5%).
The German DAX index rose by 4.67%, with Germany being one of the most vulnerable European economies to new U.S. tariffs due to its high volume of exports. France's CAC 40 increased by 3.8%, while the UK's FTSE 100 advanced by 3.04%.
This rebound comes after a challenging previous session, during which the Stoxx 600 lost 3.5%, reaching its lowest closing level since January 2024.
In the Asia-Pacific region, stock markets also performed positively on Thursday, with Japanese markets leading the gains.
US Stock Exchanges Reenter the Red
On Wednesday evening, Trump announced a 90-day reduction in tariffs to 10% for most of the U.S. trading partners, a change from previous statements where he insisted he would not yield to external pressures.
Following the announcement, American stock exchanges had an explosive reaction: the S&P 500 rose by over 9%, marking the third-largest daily gain since World War II.
However, on Thursday, U.S. markets returned to the red, amid renewed fears of economic slowdown.
In the currency market, the U.S. dollar weakened against the euro, with the euro rising by 2.16% to $1.119 per unit, the highest level in the last seven months. U.S. bond yields stabilized, offering a slight respite to U.S. assets.
Gold Hits a Historic Peak
On the other hand, gold, considered a safe haven in the trade war initiated by Donald Trump, rose to a new historic peak of $3,171 per ounce on Thursday, immediately after the opening of American markets.
By 3:35 GMT (18:35, Romania time), gold had risen by 2.83% to $3,170.25 per ounce.
T.D.