China's tariff measures against Canada
China strikes back! The Middle Kingdom has reacted with a bang to the punitive tariffs imposed by Canada on Chinese electric cars, including the popular models from BYD $BYD (+2,39%). From March 20, things will get serious: tariffs of a whopping 100 percent on Canadian rapeseed oil and peas are on the cards. Fishery products and pork will also face 25 percent tariffs. These measures are not just a move, but a direct response to Canada's decision in October to introduce punitive tariffs on Chinese electric vehicles, steel and aluminum. Beijing believes that Canada's actions violate its foreign trade law, which makes the introduction of tariffs appear justified.
The Canadian government argued that Chinese companies are keeping their prices artificially low through state subsidies. The USA and the EU have already taken similar steps against Chinese exports. In Hong Kong trading, BYD shares fell by 1 percent to HKD 49.45, showing that the markets are keeping a close eye on the situation.
Robinhood shares under pressure
The Robinhood $HOOD (+5,09%)-shares are struggling. Regulatory problems and a weak stock market environment are weighing heavily on the US online broker. A dispute with the US securities regulator FINRA is costing Robinhood almost 30 million US dollars. The regulator has identified numerous violations at Robinhood Securities and Robinhood Financial, many of which date back years. At issue are anti-money laundering deficiencies and inadequate disclosure. Although Robinhood agrees to pay 29.75 million US dollars without admitting the allegations, the pressure is reflected in the share price, which temporarily fell by 14.38 percent to 38.03 US dollars. In addition, the weak Bitcoin price is putting further pressure on the share price, as Robinhood is also active in the cryptocurrency market.
TRATON with a gloomy business outlook
The TRATON $TRA-share has taken a knock. Following a gloomy forecast from the company, which points to a weaker global economy, the share price plummeted. Despite impressive margin growth last year, TRATON has gloomy premonitions for the future. The share plummeted by almost eight percent after the start of trading and settled at 36.30 euros at midday, a drop of 5 percent. TRATON expects a turnover development of between minus 5 and plus 5 percent and an operating margin of 7.5 to 8.5 percent in the new year. Analysts remain cautious, as market expectations are at the upper end of the forecast range. Even the positive development in the fourth quarter cannot compensate for the uncertainty surrounding future demand.
Sources: