The new tariffs announced by US President Donald Trump on Wednesday prompted cautious responses from key trading partners, signaling a reluctance to escalate trade tensions.
The tariffs, which took effect on April 5, include steep levies on imports from India (26%), the European Union (20%), Vietnam (46%), Japan (24%), and China (34%).
Donald Trump's 'reciprocal tariffs,' the new import taxes range from 10% to 49%. "Taxpayers have been taken advantage of for over 50 years, but that ends now," the U.S. President stated.
Trump pledged the tariffs would bring jobs back, calling them vital for national security. Markets reacted sharply, with U.S. stock futures down 3%, Tokyo leading losses, oil falling $2, and Bitcoin dropping 4.4%. The announcement has sparked reactions from leaders around the world.
“A mixed bag and not a setback”
The move taken President is receiving global reactions. Trump has put 26 per cent tariff while calling India as “very, very tough.”
According to the news agency PTI, a senior government official has quoted, "“The ministry is analyzing the impact of the announced tariffs.” “It is a mixed bag and not a setback for India,” the official further added.
China vows retaliation against US tariffs
Beijing said it "firmly opposes" the new tariffs on its exports, and vowed "countermeasures to safeguard its own rights and interests".
US tariffs "do not comply with international trade rules and seriously harm the legitimate rights and interests of the relevant parties", the Commerce Ministry said.
EU pushes for talks amid tariffs
EU chief Ursula von der Leyen called U.S. President Donald Trump’s reciprocal tariffs a “major blow to the world economy” and warned that Brussels is “prepared to respond.” She emphasized the EU’s readiness for countermeasures if talks fail, stating, “We are now preparing for further countermeasures, to protect our interests and our businesses if negotiations fail.”
Trump’s ‘Liberation Day’ tariffs impose steep duties on imports from key European trading partners. While acknowledging the gravity of the situation, von der Leyen remained hopeful for diplomacy, adding, “It is not too late to address concerns through negotiations.”
Canada pushes back against US tariffs
“Trump has preserved a number of important elements of our relationship, the commercial relationship between Canada and the United States. But the fentanyl tariffs still remain in place, as do the tariffs for steel and aluminum,” Canadian PM Mark Carney said.
He added they will battle the tariffs with countermeasures in a bid to safeguard its workers, further creating “the strongest economy in the G7”.
Australia criticizes US tariffs but rules out retaliation
Australian Prime Minister Anthony Albanese voiced strong disappointment over U.S. President Donald Trump's sweeping tariff announcement. During his "Make America Wealthy Again" press conference in the White House Rose Garden, Trump declared a 10% reciprocal tariff on Australian imports.
Albanese criticized the move as unjustified but ruled out retaliation. “President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10 per cent,” he stated. Under the U.S.-Australia free trade agreement, the U.S. maintains a 2-to-1 trade surplus with Australia.
Taiwan calls US tariffs as ‘highly unreasonable,’ seeks negotiations
US President Donald Trump's tariffs were "highly unreasonable" and the government planned "serious negotiations" with Washington, Taipei said Thursday.
"The Executive Yuan found the decision highly unreasonable and deeply regretted it, and will initiate serious negotiations with the United States," cabinet spokeswoman Michelle Lee said, after Trump announced sweeping tariffs that included a 32 percent levy in Taiwan.
Italy seeks trade agreement to avert conflict
Italian PM Giorgia Meloni said Italy will all things possible to work towards an “agreement” with the United States, with an aim to prevent trade war that would unavoidably “weaken the West in favour of other global players”.
Brazil considers WTO action against US tariffs
Brazil is “evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organisation, in defense of legitimate national interests. The Brazilian government regrets the decision made by the North American government today, April 2, to impose additional tariffs of no more than 10% on all Brazilian exports to that country.”
Sweden calls for trade cooperation over conflict
“We don't want growing trade barriers. We don't want a trade war... We want to find our way back to a path of trade and cooperation together with the US, so that people in our countries can enjoy a better life,” Swedish Prime Minister Ulf Kristersson said.
South Korea braces for escalating trade war
The South Korean Acting President Han Duck-Soo said “the global trade war has become a reality”and the government should utilise all its resources to beat the “trade crisis”.
Irish believes tariffs ‘benefit no one’
'The decision by the US tonight to impose 20% tariffs on imports from across the European Union is deeply regrettable. I strongly believe that tariffs benefit no one. My priority, and that of the government, is to protect Irish jobs and the Irish economy," Irish PM Micheal Martin said.
New Zealand advocates for free trade amid tariffs
New Zealand Trade Minister said, "New Zealand's interests are best served in a world where trade flows freely ... New Zealand's bilateral relationship with the US remains strong. We will be talking with the administration to get more information, and our exporters to better understand the impact this announcement will have."
Thailand plans to negotiate tariff reduction
Prime Minister Paetongtarn Shinawatra said the government had a "strong plan" to handle a 36 percent levy and hopes to negotiate a reduction, saying the government would take steps to mitigate the impact.
Germany
The German Automotive Industry Association (VDA) said the tariffs would "only create losers".
"The EU is now called upon to act together and with necessary force, while continuing to signal its willingness to negotiate," the VDA said.
The German chemical industry, which counts the United States as its largest export market, urged the EU to "keep a cool head", stressing "an escalation would only worsen the damage".
Japan condemns US tariffs, cites WTO concerns
Japan's trade minister, Yoji Muto, voiced strong opposition to the 24% U.S. levy on Japanese exports, calling the move "extremely regrettable" and urging Washington to reconsider. Chief Cabinet Secretary Yoshimasa Hayashi also raised concerns, stating the tariffs could violate WTO rules and the nations' trade agreement.
Denmark warns tariffs threaten global prosperity
Danish Foreign Minister Lars Lokke Rasmussen warned that the new tariffs pose a risk to global prosperity. He emphasized the benefits of global trade, stating, "Global trade brought us to a better place: in a generation the world has become richer, extreme poverty has been reduced, child mortality has declined, and we all live longer." Rasmussen expressed concern over the potential consequences, adding, "Saddened to see all that jeopardised due to an — for Europe — unwanted trade war."
Colombia prioritizes protecting national industry
Colombian Foreign Minister Laura Sarabia stated they are focussing on measures, more than in order to safeguard national industry and its exporters.
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