American customs duties package strikes the German stock market

The German News Agency reported that, as it often happens in times of uncertainty, investors resorted to safe havens such as government bonds and gold.

The official agency reported that the main “DAX” of the German Stock Exchange in Frankfurt has decreased to its lowest level since the beginning of last February, as it was closed at a decrease of 3.01% at 21.717.39 points.

The M. DAX has also lost medium -sized companies, 2.25% to 26.874.62 points.

It is noteworthy that, as of Saturday, April 5, the United States will impose 10% customs duties on all imports from different countries.

In addition, the US administration announced a complex mechanism for mutual customs duties, which will lead to greater increases in the fees imposed on many countries.

As for the European Union, this means that the exports of its member state to the United States will be subject from next week to customs duties by 20%.

Yan Vigig, the chief investment strategy of the Audi BHF investment bank, described the customs duties imposed by Trump as harmful and risky, noting that the United States abandons the multilateral trade system.

Yan Vipig added that Trump risks a trade war with the most important trade partners for the United States, and he saw that this constitutes a threat to the global economy given the size of the fees imposed.

Earlier, US President Donald Trump announced the imposition of “mutual” customs duties on imports from other countries, stressing that Washington will impose new customs duties on several countries around the world, led by China, the European Union and India.