Posted: Saturday, April 5, 2025. 8:23 am CST.
By Zoila Palma: The global response to U.S. President Donald Trump’s new tariffs has begun, despite warnings from the White House urging countries not to retaliate.
Many of the U.S.’s major trading partners are preparing countermeasures, raising concerns of a potential trade war, Politico reports.
European Commission President Ursula von der Leyen announced Thursday that the EU was finalizing its first package of countermeasures in response to U.S. tariffs on steel, with more actions planned if negotiations fail. Starting April 9, the EU will face a 20% tariff, along with higher rates for other countries, including 34% on China, 26% on India, 25% on South Korea, and 24% on Japan.
China, while vague on specifics, pledged to defend its interests, with Foreign Ministry spokesperson Guo Jiakun condemning the tariffs as a violation of WTO rules. Similarly, Vietnam, hit with a 46% tariff, is forming a “rapid response team” to determine its strategy.
Despite the escalating tension, some countries, like the UK and Japan, have opted not to retaliate immediately. The UK, facing a 10% tariff, is focused on ongoing negotiations with the U.S. for an economic partnership, while Japan is seeking an exemption.
Mexico and Canada were largely spared, though Canada has objected to existing tariffs and announced new 25% tariffs on U.S. automobiles.
The world now faces the risk of a full-scale trade war, with the potential to severely impact the global economy.
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The post International News: World braces for escalation as countries begin to respond to Trump Tariffs appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Saturday, April 5, 2025. 8:23 am CST. By Zoila Palma: The global response to U.S. President Donald Trump’s new tariffs has begun, despite warnings from
The post International News: World braces for escalation as countries begin to respond to Trump Tariffs appeared first on Belize News and Opinion on www.breakingbelizenews.com.
