WTO gives green light for US duties on European goods. Asian stocks collapse

The main Asian markets lose about 2% of their value. Yesterday, the top 100 stocks listed on the London Stock Exchange lost over 3%. Fears of another trade war - in addition to the one with Beijing - hold back investors. The subsidies granted by the European Union to Airbus are at the base of the new tariffs, which should start from 18 October.


Tokyo (AsiaNews / Agencies) - This morning, all the major Asian stock market registered heavy losses due to rampant concerns on international markets. The drop seen across stock markets in Asia is due to the go ahead for the new US tariffs on European exports, authorized yesterday by the World Trade Organization (WTO), which has thrown investors into chaos due to fears of a new wave of trade sanctions , in addition to those that already pitting Washington and Beijing against each other.

At the opening of trading on the Tokyo market, the Nikkei 225 index lost 2.2% of its value; the Australian ASX 200 2.1%; yesterday the Ftse 100 (which brings together the 100 most capitalized companies listed on the London market), closed with a loss of 3.2% of the value.

According to Margaret Yan, an analyst at the CMC Market, the collapse in securities is due "to some cracks that are forming in various parts of the US economy and also to investor confidence". The latter shows "growing fears of a global recession and the increase in market risk [losses due to unfavorable price movements, ed]".

For the analysts, the fears are accentuated by the news coming from the United States, where the American president Donald Trump has obtained the authorization to impose duties to the European Union on goods for an annual value of 7.5 billion dollars (about 6 , 8 billion euros), as a penalty for the subsidies received from Airbus, the largest European manufacturer of airplanes.

The dispute over aid granted to Airbus has lasted at least 15 years and has been the subject of much controversy since the beginning of President Trump's term. According to a Washington official, quoted by the Wall Street Journal, the United States will apply the new tariffs starting from October 18: 10% on large commercial aircraft and 25% on agricultural and industrial products.

Italy, which exports agri-food products for 42 billion euros, is also at risk. The new trade war could damage, or even reset, the exports of some of the most famous "Made in Italy" products abroad: Parmigiano Reggiano, extra virgin olive oil, DOP buffalo mozzarella and wine.