Stock exchanges, Financial Markets, Manufacturing Activities, Trump’s duties sink Europe – Import duties on raw materials, Germany’s major concern

A cold shower sales figures in February (-10.8%)

Milan, 02 Mar –

The protectionist announcement of Trump that frightened Wall Street yesterday (-2%) today weighs on Tokyo (-2.5%) and on Europe at the start of the session.

The US president announced that next week he will approve duties to protect the American steel industry and has indicated that they should be 25% on steel and 10% on aluminum.

All the details on application and possible exemptions are still missing, but a lot has been enough to bury the stock, with Wall Street negatively affecting the budget from the beginning of the year.

At the start of the day, Paris is 1.10%, London 0.6% and Frankfurt 1.4%. In Milan the Ftse Mib leaves 0.9% on the ground.

The auto sector is suffering from the risk of an increase in raw raw material costs.

Thousands of jobs in Europe at risk

– Rome, 02 March – German Foreign Minister Sigmar Gabriel calls for a “firm” reaction from Europe to the decision of US President Donald Trump to impose heavy import duties on steel and aluminum.

“The EU must react firmly to the punitive US duties that pose a threat to thousands of workers in Europe,” the minister wrote in a statement, expressing Germany’s “great concern”.

03/18/02

Source Il Sole 24 Ore Radiocor Plus