Trump latest: Tariffs a ‘major blow to world economy’, EU warns, as markets fall in Asia | US News

2 months ago


As we’ve been reporting this morning, Donald Trump has introduced a raft of global tariffs that will have an impact across the world.

Here, we take a look at what the reaction has been so far…

European Commission president Ursula von der Leyen

“President Trump’s announcement of universal tariffs on the whole world, including the EU, is a major blow to the world economy.

“Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe.

“We are already finalising a first package of countermeasures in response to tariffs on steel. And we are now preparing for further countermeasures, to protect our interests and our businesses if negotiations fail.”

Canadian Prime Minister Mark Carney 

“(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 aluminium.

“We are going to fight these tariffs with countermeasures, we are going to protect our workers, and we are going to build the strongest economy in the G7.”

Australian Prime Minister Anthony Albanese 

“The (Trump) administration’s tariffs have no basis in logic and they go against the basis of our two nations’ partnership. 

“This is not the act of a friend. Today’s decision will add to uncertainty in the global economy and it will push up costs for American households.”

China’s commerce ministry

“China firmly opposes this and will take countermeasures to safeguard its own rights and interests.

Keep exploring EU Venture Capital:  India's Pre-Pandemic Business Travel Expenditure Predicted to Recover by 2025: FCM-GBTA Summit Insights

“There are no winners in trade wars, and there is no way out for protectionism. China urges the US to immediately lift unilateral tariffs and properly resolve differences with its trading partners through dialogue on an equal footing.”

Japanese Prime Minister Shigeru Ishiba

“Japan is a country that is making the largest amount of investment to the United States, so we wonder if it makes sense for (Washington) to apply uniform tariffs to all countries.” 

“We need to consider what’s best for Japan’s national interest. We’re putting all options on the table in considering the most effective response.”

Brazilian foreign ministry 

“The Brazilian government regrets the decision made by the North American government today to impose additional tariffs of no more than 10% on all Brazilian exports to that country.

“The Brazilian government is evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organisation, in defence of legitimate national interests.”

Swedish Prime Minister Ulf Kristersson

“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.”

Spanish Prime Minister Pedro Sanchez

“Spain will protect its companies and workers and will
continue to be committed to an open world.” 

You can watch our correspondents break down the world’s response to the new tariffs here…



Source link

EU Venture Capital

EU Venture Capital is a premier platform providing in-depth insights, funding opportunities, and market analysis for the European startup ecosystem. Wholly owned by EU Startup News, it connects entrepreneurs, investors, and industry professionals with the latest trends, expert resources, and exclusive reports in venture capital.

Don't Miss

GBTA Asia Pacific Conference 2025 Reflects the Dynamic Role of the Region in Shaping the Future of Business Travel

GBTA Asia Pacific Conference 2025 Reflects the Dynamic Role of the Region

Trump tariffs blocked: What the US court ruling means for Indian market and global trade

In a landmark verdict, the U.S. Court of International Trade ruled that