(BFM Stock Exchange) – The Parisian index evolves clearly in the Paris Stock Exchange, this Thursday, May 29, after a US court blocked the reciprocal customs duties of the American president.
For a public holiday, the CAC 40 is currently experiencing a fairly beautiful session. The Parisian index wins 1% to 7,867.47 points at the start of the session, this Thursday, May 29.
The Parisian market reacts positively to the camouflet inflicted by American justice on Donald Trump. The United States International Commercial Court has blocked so-called “reciprocal” customs duties imposed since early April on all products entering the United States.
The judges of this court considered that the boarder of the White House had exceeded his powers by establishing these surcharges by decree when such measures should have been taken by the US Congress.
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A “blow”
“Recall that this decision covers the basic customs duties of 10%, the customs duties of 25% on Canadian and Mexican products, additional customs duties of 20% on China, as well as all reciprocal customs duties that have been suspended until July 9, but that there are some exceptions not covered by the decision, including customs duties on steel, aluminum and cars” Deutsche Bank.
“It should be noted at the outset that it is not the end of history, because the Trump administration appealed this decision. But already, the markets have recorded a substantial increase in response to the judicial decision”.
Stephen Innes, from SPI Am evokes a “blow” for Trump’s economic policy which has the effect “of a demolition ball in a porcelain store”. “The excess of power of the executive may have finally found its ceiling. And with it, a new dose of macroeconomic stability, at least until the next big press title,” he concludes.
As for values, cyclical actions sign the strongest increases, Stmicroelectronics takes 3.8%, Stellantis, very affected by customs duties in Canada and Mexico, takes 3.5%.
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