The trade war between the United States and China is heating up, despite last week's announcements that an interim solution had been found. According to the Wall Street Journal, China supposedly tries to bring other countries against the US. China is looking for supposedly commercial allies in Europe and Asia in exchange for more open access to its markets.
China's alleged actions came in direct response to the White House announcement on Tuesday that it would submit a final tariff list by June 15. The list will include 50,000 million dollars in imports that will be subject to a tariff of 25 percent. The White House is also expected to release new investment restrictions on Chinese acquisitions of US technology in early July.
Earlier Thursday, the Chinese Ministry of Commerce announced that the US measures are against the rules of the World Trade Organization (WTO) and that it reserves the right to respond appropriately if necessary.
Despite the uncertainty in gestation, the world stock markets rose, being driven by the calm in Italy after the 2 anti-system parties renewed their efforts to form a coalition. Asian stocks recovered from 2-month lows and most indexes rose on Thursday. Japan's Nikkei 225 rose 0.73 percent at 1:29 pm HK / SIN and Hong Kong's Hang Seng index rose 0.76 percent. The ASX and the Kospi rose a little more than 0.040 percent. The Shanghai Composite was the clear winner early in the afternoon, rising by 1.28 percent.
The euro continued to strengthen on Thursday, although it took a break from Wednesday's rally, after rising 1 percent. The common currency traded at 1.1672 in the early afternoon in Asia. Tuesday reached a 10-month low of 1.1510.