The trade war between Beijing and Washington is hitting US supplies and oil

Future contracts have dropped and oil prices have fallen after China responded to the new US rates, indicating the resumption of the trade war between the two largest economies in the world. The future contracts of the “S&B 500” index fell 0.2%, while the peer “Nasdaq 100” fell 0.3%to reduce some of its sharp losses after the mutual customs announced by China were relatively targeted. At the same time, the prices of Western Texas fell 1.9%by 1.9%, and the yuan fell 0.3%outside China, while the dollar continued its profits against all its peers from the top ten group. The postponement of Canada and Mexico on the other hand, on Monday, President Donald Trump decided to postpone the imposition of customs tariffs at Canada and Mexico, which led to the rise in Asian stocks and US future contracts during early Asian trade, on Tuesday, against the background of expectations to make an agreement with China. “After postponing definitions on the import of Canada and Mexico, the possibility that the United States would also postpone definitions about imports from China, which helped the stock markets rise this morning. China’s revenge on Trump and China announced the opening of an investigation against “Google” and imposed new fees on a group of US products, in a move that apparently took revenge, moments after implementing the US definitions of 10%. According to the analysis of “Bloomberg Economics”, China’s response to raising US customs duties was selective, citing Beijing’s attempt to avoid the acute escalation of the trade war with Washington, as the procedures include the purposeful customs fees on the US oil, liquid natural gas and agricultural machine. Extensive list of ban. However, these measures remain less comprehensive than the US definitions affecting all Chinese imports. Read more: China responds to Trump with fees on US products and investigates ‘Google’ and Trump’s decision to postpone the imposition of definitions about Mexico and Canada to calm the state of reluctance for the risk that the markets controlled on Monday. The postponement of customs laid North America also strengthened the opinion that Trump was using rates as a negotiation tool, but it is still reluctant to the Americans. Trump’s movement to impose a state of emergency and laying up customs duties on the two countries, and China is the biggest measure to protect the economy for almost a century for a US president. The drums of the trade war, one of the biggest doubt, are how the steadfast US economy handles the effects of a trade war if it occurs. This anxiety was clear in the bond market, as short -term relationships rose while long -term returns moved in the opposite direction. “We believe that customs definitions are mainly a negotiation tool for President Trump, it is difficult to determine whether it will remain temporary, or there is a scenario in which an agreement is reached that reduces the definitions,” Yong-Yo said, not of “BM or Wealth Management”. He added: “Patience must be made and opportunities seized; there is a good time to take daring steps, but it’s not time yet.” While Austan Golsby, head of the Federal Reserve in Chicago, said that the central bank should carefully reduce borrowing costs amid the increasing state of uncertainty raised by the Trump administration. Others will speak later today like Raphael Bustic, Mary Dali and Philip Jefferson.