Global stock markets call the president’s trick

US President Donald Trump Punitive tariff rates have been slapped on 14 commercial partners – but global markets have so far ignored new policies.

President It was announced on Monday that he sent messages To the leaders of Japan, South Korea, Malaysia, Kazakhstan, South Africa, Lusa, Myanmar, Bosnia, Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia and Thailand. Each letter has placed a new tariff prices on the goods sent from the individual country to the United States.

New rates, which range from 25 % to 40 %, will enter into force on August 1.

The Asian and Pacific Markets-which are scheduled to be directly affected by the new definitions-were a silent response on Tuesday. Japan’s standard Nikki 225 Today, the index ended 0.3 %, while South Korea KosPI It gained 1.8 %.

European markets were also defeated in trade Apartment widely on Tuesday In the first trading session since Trump released his ads late Monday. General Europe Stoxx 600 The index was 0.09 % less shortly after midday in London, after moving between slight losses and gains during the morning.

In Wall Street, The stock futures were stocks Widely higher before the trading session on Tuesday, when it came out of a losing session on Monday.

It is a completely different reaction to the wild fluctuations seen in April, when Trump’s “mutual definitions” declared It sparked a global sale.

According to AJ Bell Investment Dansworth analyst, the markets are based on Trump to retreat from his introductory system.

“the ‘Taco (Trump is always chicken) trade He said in a memorandum on Tuesday morning, adding that the recent developments led to the recent developments that removed the “immediate edge of the abyss” at a tariff date on July 9: “He returned to the table, where the latest Trump administration ads about the tariffs presented some relief to the financial markets,” adding that the recent developments removed the “immediate edge of the abyss” on the deadline for the tariff on July 9.

However, the update also increases the uncertainty that governments, companies and consumers compete.

The fact that some of the main trading partners in the United States – including the European Union, India and Taiwan – have not received messages on Monday could mean that they are about to close the initial deals – or will get messages soon.

He said that without deals, the rate of effective tariffs on American imports will increase from 15.5 % to 17.3 %. Ultimately 2024, was 2.5 %.

“Given the silent impact of definitions on consumer prices in the United States until now, the tariff revenues are now recycled thanks Republican Megabill Congress has just passed, the repercussions must be managed. “

It was also It was widely mentioned On Monday, European Commission President Ursula von der Lin had a “good exchange” with Trump during the weekend.

Kiran Ganesh, a multi-asset strategic expert at the UBS Global Wealth Manegement, told CNBC on Tuesday morning that it is noticeable that the European Union did not receive a letter-perhaps because the deal is close, reassuring investors.

“In general, it seems that the market is generally comfortable with the idea that the customs tariff will probably settle near the current actual rate (15 %), albeit with a low tariff at the possible country level and more tariffs at the sector level (semi -medicines, medicines, minerals) next,” Ganesh said in an email.

“In general, nothing in the messages will not change the market’s point of view on the place where the definitions will end, or the path we reach (threats and negotiations).”

Investors had already priced it in the fact that many commercial deals will not be reached before the deadline in July, according to Tony Midoz, head of investment at BRI Wealth Management in London – but he suggested that some investors may be satisfied.

He told CNBC in an email: “One of the comprehensive commercial deal may take months, and even years, to negotiate, so that the market does not believe that 90 partial deals in 90 days were absolutely possible,” CNBC told CNBC in an email.

“At the present time, it seems that investors are comfortable in riding Trump’s road to determining policy, but mutual definitions are a tax on activity and it is too early to judge the actual impact on the economy. Perhaps things will change if you start seeing a direct link with economic numbers.”

He added that the American administration should not believe that investors will always be in this regard.

“The extension of the deadline does not give enough time to the appropriate negotiations and shortly after that we have the usual pantomim with regard to the American debt ceiling to confront it.”

– Ganesh Rao of CNBC contributed to this report.