The European Union's top official, Ursula von der Leyen, warned the US that it has "many cards" to play when dealing with new tariffs imposed by the Trump administration. The US president, Donald Trump, has promised to impose reciprocal tariffs on imported goods to equal those charged by other countries on American products. Von der Leyen stated that Europe does not want to retaliate but has a solid plan in place if necessary.
https://apnews.com/article/ue-europa-eeuu-trump-aranceles-guerra-comercial-398f2f0909dec9ea3b834bdff3d2be35Japan's economy may face a big crisis due to tariffs imposed by US President Donald Trump, particularly in the automotive sector. Itsunori Onodera, Japan's Liberal Democratic Party policy chief, warned that the 25% auto levy will have a significant impact on all regions across Japan, given the breadth of the supply chain of the auto industry.
https://www.japantimes.co.jp/business/2025/04/01/economy/trump-tariffs-japan-crisis/The National Unity Government (NUG) of Myanmar has urged the international community to deliver humanitarian aid directly to earthquake victims, warning that any attempts by the military junta to divert or obstruct assistance would have devastating consequences. The NUG's statement comes after the country initially refused foreign rescue teams and emergency supplies following Cyclone Nargis in 2008, which resulted in over 100,000 deaths. In contrast, officials stated on the day of the earthquake that they would accept outside help. Human rights monitor Tom Andrews has called for an end to military attacks to facilitate aid, emphasizing the need to prioritize saving lives over other considerations.
https://nypost.com/2025/04/01/world-news/rescue-missions-ongoing-in-myanmar-as-earthquake-deathtoll-hits-2700/NATO diplomats express nervousness about the influence of US President Donald Trump on the alliance, particularly regarding his stance on Ukraine, Russia, and China. The upcoming ministerial meeting aims to ramp up defense spending among European allies, with NATO Secretary-General Mark Rutte pushing for a 3.7% GDP commitment. However, some EU diplomats are hesitant due to economic struggles and budget deficits. Tensions also arise from the US's reluctance to engage with the EU on defense matters, exemplified by Rubio's snub of EU foreign policy chief Kaja Kallas. The meeting will also touch on a proposed 150 billion euro loan for EU member states to buy arms, which the US is wary of. Additionally, the US is set to impose a 25% tariff on European vehicle imports, further straining relations with Germany and other EU countries.
https://www.rferl.org/a/eu-russia-sanctions-debate-rubio-nato-meeting-ukraine-wider-europe/33364600.htmlBritish Prime Minister Keir Starmer had "productive negotiations" with former US President Donald Trump about a UK-US trade deal. German Chancellor Olaf Scholz stated that the EU would respond firmly to any new tariffs, but remains open to compromise. A former US Trade Representative official, Greta Peisch, suggested it's possible for fresh tariffs to be reduced or put on hold quickly.
https://www.hurriyetdailynews.com/trump-says-will-be-kind-with-tariffs-as-deadline-looms-207545Asian markets rose on Tuesday, partly due to Vietnam's decision to slash duties on various goods including cars, liquefied gas, and agricultural products. The move came as investors awaited US President Donald Trump's announcement of sweeping tariffs, which he warned would be imposed on "all countries" for years of ripping off Americans. Despite the uncertainty, gold hit a record high at $3,138.26, while Tokyo and Hong Kong edged up along with Shanghai, Seoul, and Taipei. However, Singapore and Wellington dipped, and the rebound was fragile, similar to New York's S&P 500, which rose but closed its worst quarter since 2022.
https://www.malaymail.com/news/money/2025/04/01/asian-markets-edge-back-but-trump-tariff-fears-dampen-mood-gold-hits-new-record/171532US President Donald Trump's administration is proposing tariffs of around 20% on most US imports, targeting countries that have treated Americans unfairly. The plan, set to be unveiled tomorrow, would reciprocate existing tariffs imposed by other nations. The White House is considering using the expected $trillions in new import revenue for a tax dividend or refund. Trump has already imposed tariffs on aluminum, steel, autos, and all goods from China.
https://www.malaymail.com/news/money/2025/04/01/trump-aides-float-20pc-tariff-on-most-imports-washington-post-says/171592US President Donald Trump is set to announce new tariffs on America's trading partners, including friends and foes, as part of a "Liberation Day" initiative. The move is expected to have significant economic implications, with potential impacts on global trade and markets.
https://www.smh.com.au/world/north-america/as-liberation-day-nears-the-white-house-liberates-itself-from-reality-20250401-p5lo2a.htmlUS President Trump's tariff policy may undermine the US economy due to its significant reliance on foreign trade and investment. The country, with only 5% of the world's population, accounts for 24% of global production, yet it has a massive annual deficit of $1.85 trillion and a trade deficit of $918 billion. This suggests that other countries are essentially lending dollars to the US by parking them in their central banks as a global reserve currency, indicating a vulnerability in the American economy.
https://www.deccanchronicle.com/opinion/dc-comment/dc-edit-will-trumps-tariff-policy-undermine-us-economy-1870313