Natixis - Peut-on comprendre la rÃ©action du marchÃ© des actions amÃ©ricaines aux annonces protectionnistes de TrumpÂ ?

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Natixis

Patrick Artus

Peut-on comprendre la rÃ©action du marchÃ© des actions amÃ©ricaines aux annonces protectionnistes de TrumpÂ ?

Chaque fois que D. Â Trump met en place des droits de douane sur les importations depuis la Chine, les cours boursier s reculent aux Ã‰tats-Unis (en septembre 2018, en mai 2019). Pourtant, pour les Ã‰tats-Unis, les droits de douane sur les importations depuis la Chine sont un jeu Ã somme nulleÂ : la hausse du prix des importations est exactement compensÃ©e par le reversement aux AmÃ©ricains du montant des droits de douane (qui sont une taxe redistribuÃ©e). Pour que les cours boursiers reculent, il faut donc que les investisseurs craignent les reprÃ©sailles de la Chine, reprÃ©sailles qu â€™ on voit d â€™ ailleurs Ã la chute des importations de la Chine depuis les Ã‰tats-Unis.

03/06/2019 4 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Patrick Artus

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Peut-on comprendre la rÃ©action du marchÃ© des actions amÃ©ricaines aux annonces protectionnistes de TrumpÂ ?

Section 899: A tool to increase revenue or to change foreign tax policy?

ECB Takes Summer Pause to Preserve Monetary Policy Flexibility

La BCE en pause estivale afin de garder « l’optionalité » de sa politique

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