Donald Trump has announced last week he will sign a decree creating a 25% tax on steel imports and a 10% one on aluminum imports. He hopes, in doing so, that the American production will rebound in these two sectors which he believes they are strategic, regarding the sovereignty of the country. This has triggered several passionate declarations from European leaders and some more cautious ones from China. They threat to replicate with retaliatory measures. According to his habits, the American president has passed a new step in the verbal escalation in mentioning the prospect of a trade war he ...

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Financial markets have always been influenced by the innovations which affected the survival of some companies or which generated the success of the others which had been at their launch. Excessive reactions spiraling out of controls even generated major crisis as at the beginning of the years 2000 with the Internet bubble. Its blow-out had consequences by far more important than the fall of some stocks and affected growth of the American economy. Lessons have not been learnt because we see again a craze for stocks which represents the “new economy” as Alphabet, Google parent company, or Amazon. They reach ...

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The recent evolution of the parity between the two major international currencies, the dollar and the euro, is full of lessons and will not be without consequences on the French economy. The euro remained stable against the dollar during almost two years, if we exclude a short period of doubt in November 2015. It fluctuated between 1.10 and 1.15. American elections approaching and the narrowing of the gap between the democrat candidate and Donald Trump generated a rise of the dollar. It reached 1.05$ against the euro, its highest level for 20 years, shortly after the election ...

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