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economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
From China to Canada, how are countries going to tackle Trump's tariff war?
Here is what some governments said about what they would — and would not — do in response.
EUROPEAN UNION
European Commission President Ursula von der Leyen said the EU is finalising a package of measures in response to U.S. tariffs on steel and is «now preparing for further countermeasures to protect our interests and our businesses if negotiations fail». Trump targeted the EU with a 20% reciprocal tariff.
CHINA
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China's commerce ministry said Beijing «firmly opposes» the reciprocal tariffs and «will take countermeasures to safeguard its own rights and interests,» after Trump imposed a 34% reciprocal tariff on the country.
JAPAN
Japanese Trade Minister Yoji Muto called the reciprocal tariffs «extremely regrettable» and said Tokyo would urge the U.S. to exempt Japan from tariff measures.
Japan would consider its response, he said, in a «bold and speedy manner.» Tokyo faces a 24% reciprocal tariff.
GERMAN ECONOMY MINISTER ROBERT HABECK
«Donald Trump buckles under pressure, corrects his announcements under pressure, but the logical consequence is that he must also feel the pressure, and this pressure must now be exerted from Germany, from Europe.»
SOUTH KOREA
Acting President Han Duck-soo ordered emergency support measures for affected businesses, including automobiles, the industry ministry said, after Trump's tariff announcement included a 25% rate on South Korea.
CANADA
Prime Minister Mark Carney said Canada was «going to fight these tariffs with countermeasures» and would «act with purpose and with force.»
Goods from Canada and Mexico are not currently subject to reciprocal tariffs because Trump's prior 25% fentanyl-related duties remain in place on their goods, along with 10% for Canadian
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21.05 / 10:17
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
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21.05 / 10:17
markets
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
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21.05 / 09:47
markets
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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