Early bird: US stocks have returned to a decline, European markets have significantly strengthened. China is still refusing to negotiate with the United States at the top level

American securities are now being written off

American stocks fell again after Wednesday's sharp surge. On Thursday, the White House confirmed that the total tariff on imports from China is 145 percent. The stocks then deepened their early trading losses, reported the server Ceskenoviny.cz.

"The trade war is now turning into a direct confrontation between the U.S. and China,"

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analysts from Rabobank stated.

On the other hand, European stock markets strengthened significantly on Thursday following Wednesday's decline. For instance, the pan-European index STOXX Europe 600 rose by 3.7 percent and closed at 487.28 points.

China insists on mutual respect and equality

Despite the fact that due to tariffs, Donald Trump's administration is in contact with dozens of countries regarding the conclusion of agreements, high-level dialogue between the American and Chinese leadership has not yet taken place. Unofficial channels have proven to be unproductive, CNN reported.

"The door to talks is open, but the dialogue must be conducted on the basis of mutual respect and equality,"

said on Thursday the spokesman for the Chinese Ministry of Commerce and added:

"If the USA decides to confront, China will respond the same. Pressure, threats and blackmail are not the right way to deal with China."

Apple does not want to move production to the USA despite the trade war

President Donald Trump's administration predicts that tariffs imposed on China will force Apple to produce the iPhone in the United States for the first time. American tariffs now stand at 145 percent on all products made in China. This is where Apple currently manufactures most of its iPhones. However, hurdles discouraging this brand from shifting production to the domestic market include a complex supply chain that started to build up in China during the 90s. Establishing new factories in the USA would take several years and cost billions of dollars. The result could be three times the current price of the iPhone, according to AP.

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Versace is now part of the Prada brand

Prada announced that it has purchased the Italian fashion brand Versace from the American luxury group Capri Holdings. The transaction was valued at 1.25 billion euros, which is more than 31 billion crowns. Prada mentioned in that regard that Versace represents an important addition to its portfolio, which includes the Prada and Miu Miu brands. Versace reportedly offers a "significant untapped growth potential". The Versace brand, which was established in 1978, has belonged to Capri Holdings since 2018, according to the agency AP. It still owns the brands Michael Kors and Jimmy Choo.

Sources: Ceskenoviny.cz, CNN, AP