(BFM Stock Exchange) – The Parisian index is back up strongly to mid -session of this Wednesday, April 9, fears of the market not calming war. China has decided to raise the customs surcharge to 84% that it will apply to American products. On the values, Sanofi drops more particularly, Donald Trump having announced next customs duties on pharmaceutical products.

Barely CAC 40 had resumed a little ground (+2.5% Tuesday) that it falls as dry. The flagship index of the Paris Stock Exchange abandons 3.8% at mid-session of this Wednesday, April 9, falling to 6,833.79 points.

All of the customs surcharge applied by the United States to its business partners entered into force this Wednesday, with in particular a rate of 20% for European products.

For China, the Trump administration has further increased pressure, by increasing the overall rate of customs duties at 104%.

China quickly retaliated. The country had already announced, last week, 34%customs surcharge. Beijing this Wednesday noted this rate at 84%, according to the Ministry of Finance quoted by Reuters.

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“We are on unknown fields”

On the European Union side, Marc Ferracci, the French minister responsible for industry and energy, said that “all the options (were) on the table”.

“The drama of the trade war continues to agitate the markets, and it is probably not over,” sums up Xavier Chapard, LBPAM strategist.

“If customs duties remain generally close to today’s levels, we believe that this will push the American economy to the recession from the middle of the year, and will weigh significantly on the rest of the world. In this case, a rebound in sustainable markets seems difficult to envisage in the short term. Of course they would rebound significantly in the event of a strong reduction in customs duties, but not completely given the level of uncertainty that would persist.

“With a trade war between the two largest economies in the world (China and the United States, note)-which could still lead to other countries which have not yet reacted to the unilateral taxation of taxes by the United States-it is difficult to envisage a positive resolution or predict possible results”, judge Ricardo Evangelista d’Activetrades.

“We are in unknown terrain, and the operators will be quick to act if the headlines continue to influence the feeling (on the market, editor’s note),” he adds.

Sanofi in hard

On the values ​​side, almost all of the CAC 40 is in the red. Sanofi accuses the greatest drop with a decline of 6% while Donald Trump announced that the next sectoral customs duties would concern pharmaceutical products, so far excluded from the salvo of surcharge. About half of the company’s sales are made in the United States.

To note that Hermès resists (+0.04%). In a sectoral note published this Wednesday, Deutsche Bank noted his opinion on the purchase on the company. The bank judges that the group is best placed among luxury players to sail in the current storm, with ultra-resistant demand. “As with a quality handbag, we have it for her money,” sums up Deutsche Bank.

On the other markets, the dollar is still plunging against the euro. The European motto thus takes 0.8% against the greenback, at $ 1.104. Some analysts fear that a crisis of confidence strikes the dollar.

The oil continues its dive, undermined by fears of recession. The May contract on the Brent de Mer du Nord loses 3.6% at 60.56 dollars per barrel, and even briefly broke the bar of 60 dollars a barrel. The contract of the same deadline on the WTI listed in New York gives 3.7% to 57.39 dollars a barrel.