Increasing a global trade war, US President Donald Trump removed a barrage of mutual tariff to match the duties levied by other countries. The US Commander-in-Chief said that it would impose 10 percent baseline tariffs on all imports in the United States and perform high duties on some of the country’s largest trading partners.
“This is our declaration of freedom,” Trump said at a program at the White House Rose Garden. “We will install a minimum baseline tariff of 10 percent.”
China’s rates will be determined at 34 percent, while the European Union and Japan will face 20 percent and 24 percent respectively. An import duty of 26 percent will be charged from India.
The US Trading Partners reacted to development and vowed fast vengeance, while trying to convince Trump to reach deals to avoid tariffs in the first place.
Also read: Donald Trump announced 26% “concessional mutual tariff” on India
Australian Prime Minister Anthony Albanis said that Trump reacted to Trump’s strict obstacles, saying that Americans would pay a big price for unfair steps.
He said, “These are American people who will pay the biggest price for these unfair tariffs. That is why our government will not demand the implementation of mutual tariffs. We will not join the race below that leads to high prices and slow rise,” he said.
Canadian Prime Minister Mark Carney vowed to “fight” against Trump’s broad tariff, which he said “would fundamentally change the global trade system.”
The impact of Trump’s latest tariff declaration to Canada was limited compared to other major American trading partners, but Carney said that the American levy on steel, aluminum and automobiles “would directly affect the millions of Canadians.”
“We are going to fight these tariffs with counter measures,” Carney said in Ottawa.
The British Prime Minister Kir Stmper, who made deep remarks, said that “Trade war is not in anyone’s interest.”
“We have prepared for all events – and we will rule if we do nothing,” he told Parliament.
Germany warned that the trade war “hurts both sides.”
Also read: Trump unveils mutual tariffs on countries. See full list
Spanish Prime Minister Pedro Sanchez said that his country “will protect its companies and workers and will be committed to an open world.”
Sweden Prime Minister Ulf Christson said that his country does not want to increase the obstacles of trade. “We don’t want a business war … We want to find our way on the path of business and cooperation with America, so that people in our countries can enjoy better life,” he said.
Irish Trade Minister Simon Harris said Ireland and the European Union (EU) were ready to find a conversation solution with the US. Harris said, “Interactions and dialogues are always the best way.”
Italian Prime Minister Giorgia Meloni also vowed to work with President Trump that “a compromise to avoid business war that will essentially weaken the West”
“We can work to work with the United States to work towards an agreement with the United States, with the goal of avoiding a business war, which would compulsorily weaken the West in favor of other global players,” he said.
A French government spokesperson said the European Union would “react to the new Trump tariff” before the end of April.
The 27-Nation block will compete with American works on the early Salvo steel and aluminum, followed by sector-by-field measures.
