A trade war can be fought without tariffs

Trade barriers can take many forms. The prices are just one. The requirements for granting expensive licenses, export restrictions and fines on shipping are other obstacles.

NVIDIA said on Tuesday that it would take fees of $ 5.5 billion linked to chip exports canceled to China due to the new US government license rules. Beijing has repaled Trump’s prices by implementing export restrictions on rare land elements and increasing antitrust control of American companies. The administration of Donald Trump floated the idea of ​​imposing samples on Chinese manufacturing containers calling for American ports.

Given these developments, the World Trade Organization warned on Wednesday that the prospects for global trade have “deteriorated sharply” and predict a decrease of 0.2% in 2025. It is not a simple scary: shipping ships from China already cancel their trips.

Conditions on the stock market have also worsened. American actions dropped on Wednesday while export restrictions on NVIDIA maintained nervous investors. The trade – in all contexts – is hammered by the assault on the prices of American president Donald Trump.

American markets shaken by renewed business tremors
American actions fell on Wednesday, hitting the lower session after the speech of the president of the American federal reserve Jerome Powell on inflation and prices. THE S&P 500 lost 2.24% and the Industrial average Dow Jones dropped by 1.73%. THE Nasdaq Composite flowing 3.07%, weighed down by a sharp drop in flea stocks in the midst of new American license requirements for Nvidia exports. The actions of the flea manufacturer flowed 6.9%.

Asian markets break up with Wall Street
The markets in Asia-Pacific were mainly in green Thursday. In South Korea Kospit Adding about 1%, the country’s central bank provided for its reference interest rate at 2.75%. Japanese Nikkei 225 climbed approximately 1.2% while the country reported An increase of 3.9% of its exports in March, lacking estimates and led to the leap of 11.4% in February.

Double mandate tension
Powell expressed the concern on Wednesday that the central bank “could find us in the difficult scenario in which our double mandate objectives are in tension.” The Fed aims to guarantee stable and full employment prices. Economists, including those of the Fed, see the threats of the two tariffs of Trump prices, which “are likely to move away from our goals,” Powell said in a session of questions and answers.

The WTO warns against the disorganization of world trade
“The prospects for global trade have deteriorated sharply due to an increase in prices and the uncertainty of trade policies,” warned the World Trade Organization in its latest “global trade and statistical prospects” on Wednesday. On the basis of the prices currently in place and including a suspension of 90 days of “reciprocal prices”, the volume of the global trade in goods should now decrease by 0.2% in 2025.

Freight ships from Chinese cancel travel
American importers are informed of an increase in navigations canceled by ships of goods outside China: a total of 80, or canceled, the navigations of China were recorded by the freight company HLS Group. The impact of the decrease in freight container traffic to North America will be significant for many links in the economy and the supply chain, including ports and logistics companies that move freight.

TSMC gains are expecting expectations
Taiwan Semiconductor Manufacturing Company published profits from the first quarter that beat analysts’ expectations. The net profit of the flea manufacturing company increased 60.3% compared to a year ago to 361.56 billion dollars NT ($ 11.1 billion), while net turnover in the March quarter increased by 41.6% to 839.25 billion dollars compared to the same period last year. The demand for artificial intelligence chips has increased TSMC’s fortune, but Trump prices are a threat to his future income.

[PRO] Always confident on dollar: Piper Sandler
The dollar index, which measures the greenback against a basket of large currencies, dropped last week at its lowest since April 2022 in the middle of an increased uncertainty of Trump prices. More alarming, the US dollar is generally considered as an asset on a package during volatility, so its weakening has raised concerns. Piper Sandler, however, is always confident on the currency – here is why.

China targets American services and other areas because it decrees the “meaning” pricing increases on goods

China last week announced that it was rippling against the prices of American president Donald Trump, saying that more increase in the United States would be a “joke”, and that Beijing would “ignore”.

Instead of continuing to focus on pricing goods, China has chosen to use other measures, including measures targeting the American services sector. Beijing has deployed a series of non -tariff restrictive measures, such as exporting export controls for rare land minerals and the opening of antitrust probes in American societies.

In addition, China is considered by some who seek to expand the trade war to encompass the trade in services – which covers travel, legal and financial services – where the United States has organized a significant surplus with China for years.