World leaders have reacted with dismay, threats of countermeasures, and calls for negotiations in response to sweeping new tariffs announced by U.S. President Donald Trump.
The import taxes, ranging from 10% to 49%, aim to bring factories and jobs back to the U.S. but have rattled global markets. Asian stocks fell sharply, and U.S. futures tumbled, signaling a volatile trading day ahead.
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Global Reactions
Norway: Foreign Minister Espen Barth Eide said the tariffs might violate NATO’s Article 2, which promotes economic cooperation among allies. He plans to raise the issue with U.S. Secretary of State Marco Rubio.
Poland: Prime Minister Donald Tusk warned that Poland’s GDP could shrink by 0.4% but vowed that Polish-U.S. ties would endure.
Spain: Prime Minister Pedro Sánchez announced a €14.1 billion spending package to counter the tariffs' effects, calling the move "19th-century protectionism."
Australia: Prime Minister Anthony Albanese criticized tariffs on remote Australian territories that do not export to the U.S., stressing Australia’s free trade policy.
Hong Kong: Strongly opposed the tariffs and urged the U.S. to withdraw them, arguing that Hong Kong maintains a free trade policy.
India: The Trade Ministry is expediting negotiations with the U.S. for a trade agreement to offset the impact of tariffs. The U.S. is India’s largest trading partner, with trade valued at $129 billion in 2024.
Vietnam: The stock market plunged while gold prices hit a record high. Vietnam’s Prime Minister Pham Minh Chinh remained hopeful for 8% growth despite the heavy 46% tariffs.
Ukraine: Economy Minister Yuliia Svyrydenko said Ukraine is negotiating for better tariff conditions, stressing its low tariffs on U.S. goods.
Japan: Prime Minister Shigeru Ishiba expressed deep regret over the 25% auto tariff, saying Japanese firms have been major investors in the U.S.
Germany: Chancellor Olaf Scholz called the tariffs an “attack” on global trade and warned of economic losses worldwide. Vice Chancellor Robert Habeck labeled the move "Inflation Day," predicting it would trigger recessions.
Fiji: Deputy Prime Minister Biman Prasad called the 32% tariffs on Fijian exports “disproportionate” and “unfair,” particularly since the U.S. is a major trading partner.
China: The Foreign Ministry condemned the tariffs as "unilateral bullying actions" and a violation of WTO rules.
United Kingdom: Prime Minister Keir Starmer pledged a "cool and calm" response and said negotiations for an economic prosperity deal would continue.
Thailand: Prime Minister Paetongtarn Shinawatra said Thailand is ready to negotiate and urged exporters to diversify markets.
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Industry and Business Impact
Automakers: Stellantis will shut its Windsor, Canada, assembly plant for two weeks due to market uncertainty caused by the tariffs. Honda CEO Toshihiro Mibe said the company needs time to assess the situation.
Southeast Asia: Some of the highest tariffs hit Vietnam (46%), Cambodia (49%), Bangladesh (37%), and Sri Lanka (44%). These measures could disrupt supply chains as multinational companies have shifted production to these countries to avoid earlier trade tensions.
European Union: The European Commission called the tariffs a “major blow” to the global economy. Germany’s industry federation BDI urged the EU to coordinate a response with other major trading partners.
Trump’s tariffs have triggered immediate global pushback, with nations considering countermeasures and negotiations. The economic fallout remains uncertain, but experts warn of rising costs and potential recessions worldwide. As affected countries prepare responses, global markets brace for continued volatility.