Trump's trade war: hryvnia strengthened and oil prices began to fall

Changes have taken place against the backdrop of the new US economic policy. On the eve of April 2, Donald Trump announced the introduction of customs duties for import. Its decree also provides for a state of emergency due to the country's trade deficit. According to the new customs rules, the basic tariff for all imported goods in the United States will be 10%. However, for countries with the largest trade deficit, this figure can reach 50%.

In particular, EU countries will receive 20%duties, Ukraine - 10%, UK - 10%, and China - 34%. The introduction of a basic duty is scheduled for April 5, and increased tariffs for individual countries will take effect from April 9. The financial markets responded instantly: the US stock market lost more than $ 2 trillion, the NASDAQ 100 index decreased by 2%and the S&P 500 by 1. 5%. The fall has also affected cryptocurrencies - in the last month the bitcoin course has fallen by almost 20%.

The situation has caused concern among businesses and investors who started withdrawing from risky assets. The Minister of Economy of Ukraine Yulia Sviridenko commented on the US decision, noting that although new duties are creating some difficulties, their influence on the Ukrainian economy is not critical. "Ukraine will have 10%duties, while 20%for the EU have been set for Moldova 31%.

In 2024, we exported $ 874 million to the United States, of which 363 million were cast iron and another 112 million for pipes. 10% by car, 0% for oil and coal), we have the opportunity to agree on the best conditions, "she said. Ukraine exports more than 600 different product categories to the United States, 65 of which bring more than $ 1 million income. Therefore, the government is working to provide more favorable trade conditions for the country.

Trump's statement immediately affected the world markets. The dollar is somewhat weakened about other currencies: the euro went up by 0. 38%, the British pound by 0. 54%, and Japanese Ena - by 0. 17%. At the same time, oil prices decreased: WTI brand lost 0. 27%and Brent - 0. 59%. Analysts explain this with fears of possible economic slowdown through a new US tariff policy, - Reuters writes.

The US stock market before Trump's announcement showed positive dynamics as it was expected that new solutions would support US manufacturers. However, after the announcement of large -scale duties, the investors responded negatively, which led to the fall of the main stock exchange indices. Gold, traditionally considered a safe asset during periods of economic uncertainty, began to rise in price from the moment of Trump's return to the White House.

If on January 20, its value was $ 2,700 per ounce, it exceeded $ 3,000 by the end of March. Following the recent statements of the US President, the gold price rose by another 1%, reaching $ 3146 for an ounce. Apple's market capitalization has fallen by more than $ 240 billion, as its shares fell 7% during OTC trading. NVIDIA market capitalization decreased by 5. 6% or $ 153 billion.

The profitability of 10-year Treasury bonds of the United States has decreased by more than 15 base points to a five-month minimum in 4. 04% experts urge to wait for the response of the US trading partners. Fitch estimates that the average import in the US imports from 2. 5% to 22% - the level that was last recorded in 1910. "It changes not only the US economy but the whole world market.

Many countries can be in recession if these duties remain for a long time," said Fitch's economist Olla Sonol in a comment to Reuters. Recall that Trump did not establish "mutual duties" for the Russian Federation, Belarus, Cuba and North Korea, as they are under US sanction restrictions, which makes it impossible to trade with these countries. Focus also wrote that the Chairman of the European Commission Ursula von Der Lien reacted to new US President Donald Trump's duties.