By Admin 
The trade tension of America and China has been increasing continuously since Trump’s tariff announcement. Its effect is very bad on the global market. The global market seems to be a stream. Dow Jones has declined by about 2000 points, while on the other hand Nasdaq has also come down 2.5%.
Here, the tension between the US and China has increased so much that the White House has even said to collect 107 per cent of additional tariffs on goods imported from China from 9 April. The US announced to take such a tough step at a time when China has refused to remove the 34 percent counter -duty on US goods.
The Asian stock market saw a huge decline on Monday after US President Donald Trump’s tariff was imposed. From Shanghai to Tokyo and Sydney to Hong Kong, the shares of the Asia-Pacific region declined on Monday as it was not seen in the last several decades.
Tariff increased tension
China’s Shanghai Composite Index recorded more than 8 %, Hong Kong’s Hong Seng recorded more than 13 percent and Japan’s Nikkei index recorded a decline of more than 7.8 percent. When the red color started deepening in the stock market, an analyst called it ‘bloodbath’.
European markets also led to a decline in early trade. This decline was the highest in defense and bank shares. This uproar in the stock market is no less than a shock for the manufacturing sector of Asia because America is a big market for them. Exports from clothes to cars made here are the highest in America.
Countries like Japan and South Korea are also involved in Trump’s tariff, on which 26 percent tariffs have been imposed. Vikasshiral like Trump Vietnam is also preparing to impose 46 percent tariffs on the country. Apart from this, Cambodia has been imposed on 49 percent, Thailand 36 percent on Thailand and 54 percent on China. Many other countries like Singapore, New Zealand and Australia have also started baseline tariffs.
The threat of recession is harassing
Speaking to BBC, Chief Economist Kian Wang, Chief of Asia-Pacific of Investment firm Wangard, said, “Asia is suffering the brunt of Tariff Hike of America. There is scope for conversation, but this new phase of high tariffs can remain. ”It is being told that Trump’s tariff policy is likely to bring a slowdown in America. Asian countries are very nervous due to this because this will cause great damage to their export in America.
Julia Lee, head of client coverage at London Stock Exchange Group’s subsidiary company FTSE Russell, said, “Tariff has further increased the expectations of inflation and recession.” Goldman Sachs has now estimated that in the next 12 months, there is 45 percent probability of recession in the US, which is more than the previous estimate of the country, as this Investment Bank has its own economic growth for its economic growth. Has reduced the forecast.
Also read: America had to show eye to China! Trump put 104 percent tariff