Adelmo Gabbi said he expects a "complicated day" for the exchange of Trump's announcement on China

Stock Market Chairman Adelmo Gabbi said today they are expecting a "busy day" at the local market because of the new threats from the US president.

Donald Trump,

who announced
an increase in tariffs on Chinese products from Friday.

"Today 's day should be complicated because of the fact that

United States

increased tariffs to China, part of this bargaining that seemed to have a good way, but it got complicated last night, "Gabbi said during a dialogue with
Radio network

According to Gabbi, in today 's day, more attention will have to be paid, "so that no variables are out of control".

The main Chinese stock indexes fell more than 5%, after the tweet of Trump. After sinking in the morning, the Shanghai Stock Exchange continued to lose ground in the afternoon, falling 5.6% to 2,905.55 points, while the Shenzen Stock Exchange, the second largest financial market in mainland China, lost 6.41%, to 1,531.32 points.

On the Hong Kong Stock Exchange, the Hang Seng Index fell 3.12% to 29 142.32 units.

Asset Announcement

Trump yesterday announced an increase in customs duties of $ 200 billion on Chinese imports from 10% to 25%, a measure apparently intended to pressure Beijing to
a trade agreement with the United States.

But the decision overshadows the prospects for the second round of negotiations scheduled this week in Washington, and Bloomberg News and The Wall Street Journal reported that China was now considering postponing talks in response to the Trump threat.

The Chinese currency, the yuan, also suffered and lost 1.3% at one point – its worst fall in three years – before recovering slightly this afternoon and standing at 6.7957 against the dollar, a reversal of 0 90%

Risk and panic

Trump has revived "risk aversion and panic" in the markets, said Qian Qimin, an badyst at Shenwan Hongyuan Securities in Shanghai.

Qian said Chinese equities may fall again in the coming days but should "stabilize soon".

"The additional fees, if they are applied, should not have much short-term impact, because the government can use policies to compensate for this," he said.