The US is imposing sweeping tariffs on its allies, including Canada and Mexico, in a move that has sparked widespread criticism from countries such as the UK and EU nations. The tariffs, which are expected to significantly impact trade with these nations, will effectively reverse decades of trade liberalization efforts aimed at promoting global economic cooperation.
https://www.tbsnews.net/world/global-economy/trump-unveils-10-global-tariff-many-nations-face-higher-rate-1106856US imposes tariffs on various countries, including China, European Union, Vietnam, and others, with rates ranging from 10% to 49%. The US has imposed reciprocal tariffs in response to what it claims are unfair trade practices by these countries. The list includes countries such as Algeria, Oman, Uruguay, Bahamas, and Lesotho, which face tariffs of 30%, 10%, 10%, 10%, and 50% respectively.
https://www.ndtv.com/world-news/trump-unveils-reciprocal-tariffs-on-countries-see-full-list-liberation-day-tariffs-donald-trump-8073189The US has imposed tariffs of up to 50% on all imports from certain countries, including Japan and South Korea, while others like China and Great Britain face individualized tariffs ranging from 10-34%.
https://www.dailymail.co.uk/news/article-14560861/Trump-tariffs-list-countries.htmlThe new US tariff policy is sparking criticism from key trading partners like Canada, Mexico, India, China, and the EU, who are pushing back against the unilateral imposition of tariffs without justification. Economists argue that regional economic integration is crucial for promoting trade, as seen in the importance of mechanisms such as NAFTA and the EU's single market.
https://www.geo.tv/latest/598157-international-trade-on-the-lineThe new tariff policy in the US is expected to negatively affect Bangladesh's exports due to a decline in demand in the US economy, according to Zahid Hussain, former lead economist at the World Bank's Dhaka Office. He anticipates that the tariffs will lead to an economic downturn in the US, which may indirectly impact Bangladesh's exports.
https://www.tbsnews.net/economy/tariffs-may-cut-exports-us-market-bangladesh-should-go-negotiation-right-away-zahid-1106991China, the world's No 2 economy, is facing 54% tariffs on its exports to the US and has vowed countermeasures. The European Union, a close ally of the US, will also retaliate with tariffs of up to 32% on certain goods from Taiwan. Other countries targeted include Japan (24%), South Korea (25%), and even some uninhabited islands in Antarctica (20%). EU chief Ursula von der Leyen warned that the measures could have dire consequences for millions worldwide. US Treasury Chief Scott Bessent cautioned that retaliatory moves would only lead to escalation, while Australian Prime Minister Anthony Albanese described the tariffs as "illogical" and a breach of their partnership.
https://channelnewsasia.com/world/trump-tariffs-china-asia-us-trade-partners-global-trade-war-5040856Singapore Deputy Prime Minister Gan Kim Yong has expressed concerns about the potential escalation of tit-for-tat tariffs, warning that this could lead to a global trade war. He stated that Singapore is navigating uncertain waters and may need to adjust its economic growth forecast for the year due to the impact of tariffs imposed by other countries.
https://channelnewsasia.com/watch/singapore-will-not-impose-retaliatory-tariffs-us-dpm-gan-5042871Indonesia's Wijayanto advises the government to hold a press conference with key institutions to address economic concerns, suggesting a spokesperson who understands economics and can provide transparent answers to avoid undermining credibility. This comes as the US has imposed reciprocal tariffs on imported goods, including a 32% tariff on Indonesian imports, following President Donald Trump's announcement of minimum basic tariffs.
https://en.tempo.co/read/1993167/indonesian-govt-delays-press-conference-on-trumps-tariffs-economist-urges-strategic-anticipationFrench President Emmanuel Macron has urged businesses in the EU to stop investing in the US due to punitive tariffs imposed by US President Donald Trump on the European Union. Macron stated that this would be counterproductive and contradictory to the message of having big European players invest billions in the American economy.
https://news.bloomberglaw.com/capital-markets/macron-issues-a-corporate-call-to-arms-eu-stop-investing-in-us