According to the American house, the first signs of the influence of US duties are beginning to appear in international trade, he says, with US imports rising sharply in January.
The impact on US duties increases is beginning to appear on macroeconomic elements, Fitch Ratings said.
According to the US House, the first signs of the influence of US duties are beginning to appear in international trade, he says, with US imports rising sharply in January, as businesses tried to increase missions in view of the imposition.
He notes that demand is guided by the increase in industrial supplies and consumer goods.
The value of Canada’s exports to the US has also increased rapidly in January, according to Fitch, with the driving force industrial machinery and equipment, motor vehicles and metals.
He says Canada’s exports, of which more than 90% are for the US, increased by 17% compared to the previous month, with passenger cars and light trucks reaching the highest level of almost six years.
It notes that the value of Japan exports also increased significantly in January, including the sharp increase in exports to Mexico.
The US house says Korea’s exports continued to decline, with semiconductor exports to China declining in February. “This was partly the result of the restrictions imposed by the US government on the sale of high -range chips in China last December,” he adds.
Fitch reports that his chart package also shows the sharp decline in US shares prices in March, when financial markets began to reflect concerns about the impact of duties on US economic growth.
Source: KYPE