Ready to 'Fight Till the End' | Calamatta Cuschieri

Markets roundup, China ready for action and Trump insisting on Amazon

China reserves the right to defend its legitimate interests
China reserves the right to defend its legitimate interests

Markets in Europe closed lower on Tuesday, the first day of trading following the Easter holiday, amid continued fears of a possible trade war between the United States and China. Earlier, China vowed to match any new trade tariffs by the US with reciprocal measures. "We will certainly take countermeasures of the same proportion and of the same scale, same intensity," Chinese ambassador in Washington, Cui Tiankai, said in an interview today.

The DAX closed 0.76% lower as Infineon Technologies slumped over 2%. The CAC 40 lost 0.19% at the end of the session with management services company Sodexo as the worst performer tumbled 4.74%. The FTSE 100 declined 0.37%; Mediclinic International was 4.59% in the red.

China ready for action

Chinese Foreign Ministry spokesman Geng Shuang said at a press briefing on Tuesday that Beijing wishes to resolve trade disputes with Washington through negotiations, however, the country reserves the right to defend its legitimate interests.

"If someone insists on starting a trade war, we will fight till the end," Shuang stressed.

Mr. Shuang called on the United States to engage in dialogue with China, taking into account the interests of people and consumers, while rejecting unilateralism and trade protectionism.

"We hope the dialogue and consultation will be in accordance with international law and trade rules and based on mutual respect and equality," the spokesman added.

On Sunday, Chinese media reported that the country's Customs Tariff Commission of the country's State Council decided to suspend tariff reduction obligations on 128 products originating from the United States, raising them to 15% for 120 products and 25% for the remaining eight products. The measure comes as a response to the United States President Donald Trump's trade barriers on metal and other goods imported from China.

Trump insists on Amazon

United States President Donald Trump continued to criticize Amazon via Twitter, slamming the e-commerce giant for its use of the US Postal Service once more.

"I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy. Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. Many billions of dollars. P.O. leaders don’t have a clue (or do they?)!" he wrote.

President Trump took to Twitter multiple times over the past week to slam Amazon for its tax treatment and use of the US Postal Service, driving the company’s shares lower.

Disclaimer: This article was issued by Rodrick Duca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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