Market Information Thursday 10 April 2025

China plans an 84% tariff on US imports from April 10, escalating a US-China trade dispute. This tariff follows President Trump’s high tariffs, which have caused global markets to slump, resulting in a drop of over 2% in US futures and 4% in European stocks. Chinese officials aim for strategic restraint by avoiding the full 104% match, demonstrating resilience amid economic risks.

On Wednesday, nearly all EU member states, except Hungary, approved retaliatory tariffs worth €22 billion on American products such as tobacco and orange juice, responding to U.S. steel and aluminum tariffs. These tariffs, ranging from 10% to 25%, will be implemented in three stages between April and December 2025. The European Commission emphasizes that these measures are crucial to mitigate economic damage while continuing to seek a solution with Washington.

US shares surged after President Trump announced a suspension of steep tariffs on goods from most countries, opting instead for a 10% import tax rate, although tariffs on Chinese goods are increased to at least 125%. This decision prompted the S&P 500 to rebound by 9.5% amid earlier fears of economic recession, but leading indexes remain lower year-to-date despite Wednesday’s gains. Trump’s move follows political pressure and aims to negotiate trade agreements, although challenges with China remain, especially given their significant import presence in the US.

The 6M Euribor decreased with 9 basis points to 2.19% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.59% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.