Last Tuesday the bags lived a very heavy day, with Piazzaffari who closed with a less 3.41%after he had come to lose over four percentage points. All this after the week had opened up in great dusting for the financial markets, which evidently did not expect that Donald Trump He had respected his electoral promise relating to the Sesquizia Idiozia of a commercial war. So much so that he triggered the storm was the decision of the current US administration of double the duties on Chinese goods and to introduce them to very heavy to the detriment of Mexico and Canada whose export of many goods to the USA will undergo a tax of 25%.
Now, as Federico Fubini on La7 has effectively explained, it is full -time A real tafazzist strategy. Something that one of our proverbials recalls us according to which a certain gentleman, in order to spite his wife, decides to take place in white to cut the so -called.
In detail, Fubini explained to viewers the reason why these measures will be counterproductive both for American companies and for the related consumers, who will also pay more assets produced by US companies, with the aggravation of an inevitable increase in inflation. Inflation that Tycoon himself has committed himself to keeping absolutely under control.
The problem, which in a nutshell concerns all advanced countries, being the latter inserted in an integrated economic system within a myriad of global chains of value, the Florentine journalist described it with a rather understandable example: “Investors – Fubini made his debut, referring to the distrust that meanders on the overseas financial markets – have understood that the Trump policies are bad in the United States. They hurt all economies, but they hurt Americans very much. This is very simply because – we imagine the duties at 25% on Mexico – it means that all the components of the manufacture of cars in the US become more expensive; A car becomes more expensive even if produced in the United States since we are talking about assemblies. That is, a car built in the United States is actually made up of pieces that continue to go from one side of the border 10 times before leaving the factory gates. “
A similar reasoning Fubini then expressed it towards the American pharmaceutical companies operating in some European countries with a convenient labor costs and that often market drugs produced in the country in development in the States. They too will find themselves burdened with the heavy burden imposed by the current tenant of the White House. On the other hand, such a reasoning served at the time to dismantle the theorists of the return to our liretta, who imagined to relaunch exports with the much praised competitive devaluations. All this without considering that overall the value of the products of Italian companies contains about the 70% of semi -finished products bought abroadand having to pay them in precious currency their cost would on the contrary suffer the effects of the same competitive pseudo devaluation.
We like it or not, These are the strengths and defects of globalizationwhich allows you to buy every good of God at comparable prices compared to a few decades ago, but at the same time it cannot be separated from the launch of commercial agreements based on free trade, Mister President.
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