European Stocks Fell in Early Trading
The US-China relationship has seen a turning point. The US government announced that the new tariffs originally imposed on China’s surplus goods in September will be extended to mid-December. Asian stock markets generally rose on Wednesday, European stock markets also opened high, but the United States will still implement some of the original tariff increase plans next month, the market bullish atmosphere cooled, European stocks fell in early trading.
The Dow Jones European Stoxx 600 index fell 0.46 points or 0.12% to 371.94 points. At the same time, the Frankfurt DAX index fell 0.18%; the French CAC40 index fell 0.25%.
The United States has changed its plan to impose a 10% tariff on the remaining US exports from September 1st, delaying the time to impose tariffs on mobile phones, notebook computers and other consumer goods. US President Trump said the move was to ease the impact of new tariffs on consumers during the Christmas season in the United States.
In recent weeks, the market has been suppressed by US President Trump’s tough stance on Sino-US trade wars. The US move has raised the market’s expectation of possible progress in trade negotiations between the two countries.
In addition, a statement issued by the Chinese Ministry of Commerce on Tuesday said that Chinese Vice Premier Liu He had a telephone conversation with US representative Wright Heze and Finance Minister Nuchin on the evening of the 13th. The two sides are scheduled to call again within two weeks.