Canada, Mexico and China have promised to retaliate after the prices on goods entering the United States of their country entered into force on Tuesday.
President Donald Trump imposed prices of 25% against Canada and Mexico, and 20% of prices against China.
In the United States, the United Kingdom and Asia, fell following the introduction of taxes in the midst of fears of the widening of the trade war.
Analysts have warned that prices could increase prices of American households and may also have an effect on consumers around the world, including the United Kingdom.
Trump has threatened to impose prices, which is a tax added to a product when it enters a country – in Canada, Mexico and China in response to what claims is the unacceptable flow of illegal drugs and illegal immigrants in the United States.
But Canadian Prime Minister Justin Trudeau said his country has been responsible for less than 1% of fentanyl in the United States and would retaliate with 25% of $ 150 billion in American products.
China quickly announced its own countermeasures, which include tariffs of 10 to 15% on certain American agricultural products, including wheat, corn, beef and soy. Mexico should announce its response later.
The three main stock market indices in the United States flowed following news, while the FTSE 100 of the largest companies listed on the UK on Tuesday and the stock markets in Asia were also down.
Andrew Wilson, from the International Chamber of Commerce, said: “What we have seen is the greatest effective increase in American prices since the 1940s – with serious economic risks attached to this.”
“The initial market movements are fully thought out that we are now entering a very risky scenario for world trade and the world economy,” he told BBC Radio 4
He said the University of Yale predicted that these measures could cost American households in the region of $ 2,000 this year only.
Ella Hoxha, responsible for fixed income securities at Newton Investment Management, told BBC: “In terms of consumers, you are more likely to look, certainly in the short term, increases prices as companies transmit some of these prices on the consumer.”
Chris Torrens, vice-president of the British Chamber of Commerce in China, added: “It is a huge challenge for British affairs due to the historical ties that the United Kingdom and the United States have. (We) see what resembles the dismantling of a transatlantic alliance between the United States and Europe.
“But there is a real feeling of hope for a stronger relationship in the United Kingdom.”
