NEW YORK / FRANKFURT / WASHINGTON / BEIJING (dpa-AFX) – Further escalation in the US-China trade dispute frightened investors on Friday. Safe investments like government bonds and gold were in demand, riskier asset classes like stocks suffered losses. China previously decided on new retaliatory tariffs on U.S. imports after the U.S. announced similar measures in early August.
Most European stock exchanges Slightly in the red, and the US futures markets showed price losses early in the stock market. Systems perceived as safe were in demand, however. Investors turned to European and US government bonds. The price of gold has also increased.
In the commodity markets, oil prices notably fell. But other raw materials, including soy, have also come under pressure. China had announced that it would impose punitive tariffs on US imports of oil and soybeans from September 1.
In total, US $ 75 billion worth of US goods must be subject to punitive tariffs of 5 to 10 percent. The rates are to come into effect partly on September 1 and partly on December 15. Car prices of 25 percent are expected to resume on December 15. In early August, the United States announced new punitive tariffs of 10% on Chinese imports valued at around $ 300 billion.
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