April 3 – China urged the United States to correct its wrongful imposition of “reciprocal tariffs,” and address economic and trade differences with China and other countries through equal, respectful, and mutually-beneficial negotiations, Chinese foreign ministry spokesperson Guo Jiakun said on Thursday.
Guo made the remarks at a regular press briefing in response to a query about Washington’s announcement of “reciprocal tariffs” on major trading partners.
Under the pretext of “reciprocity,” the United States has imposed additional tariffs on exports from China and other countries, which seriously violates World Trade Organization regulations and severely undermines the rules-based multilateral trading system, noted Guo.
“The Chinese side firmly opposes this and will take necessary measures to resolutely safeguard its legitimate rights and interests,” said the spokesperson, reiterating that there is no winner in a trade or tariff war, and that protectionism offers no solution.(Xinhua)
‘U.S. announcement of reciprocal tariffs causes worldwide backlash’
President Donald Trump’s announcement of new reciprocal tariffs on imports from all trading partners has drawn backlash from countries around the world, with countermeasures already pledged by some.
The universal tariffs imposed by the United States — a 10-percent “minimum baseline tariff” to be imposed on all imports — will take effect on April 5, and the “individualized reciprocal higher tariff” on the countries and regions with which the United States “has the largest trade deficits” will take effect on April 9, according to a White House document.
“RESENTMENT DAY”
On social media platform X, Czech Minister of Industry and Trade Lukas Vlcek called Trump’s new tariffs a “mistake.” Also, Manfred Weber, the leader of the European People’s Party and a member of the European Parliament, called April 2 — the new tariff announcement day dubbed by Trump as “liberation day” for the United States — as “resentment day.”
“Donald Trump’s tariffs don’t defend fair trade: They attack it out of fear and hurt both sides of the Atlantic,” he said.
European Commission President Ursula von der Leyen on Wednesday expressed deep regret over the U.S. move in a statement, calling it “a major blow to the world economy,” and warned against a devastating impact. “The global economy will massively suffer,” she said. “Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe.”
Spanish Economy Minister Carlos Cuerpo on Thursday said the United States’ new tariffs are “unfair and unjustified” in an interview with radio station RNE, adding that the Spanish government will take action to protect companies and consumers from the effects of the tariffs.
Speaking to local media on Thursday morning, British Business and Trade Secretary Jonathan Reynolds said he is “disappointed” by the additional tariffs imposed on Britain, noting the 10-percent tariff is not a “fair reflection of how we currently trade.”
In Asia, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi on Thursday expressed “serious concern” about the U.S. decision to impose reciprocal tariffs, saying the new tariffs could have a “big negative impact” on the global economy and the multilateral trade system.
South Korean Prime Minister Han Duck-soo, who is serving as acting president following the impeachment of President Yoon Suk-yeol, told an emergency meeting on economic security in Seoul: “As the global tariff war is coming to a reality, the government should pour out all of its capabilities to overcome a trade crisis.”
The German Institute for Economic Research in a statement issued on Wednesday ahead of Trump’s new tariffs announcement warned that the United States has made a significant departure from multilateralism in its trade policy. The introduction of new, extensive tariffs poses a serious threat to global supply chains.
GRAVE CONCERNS AMONG BUSINESSES
Business leaders in Britain voiced concerns on Wednesday that the new tariffs on their exports, even at 10 percent, could weigh heavily on British industries. Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), said: “There are no winners in a trade war. Today’s announcements are deeply troubling for businesses and will have significant ramifications around the world.”
The Federation of Small Businesses (FSB) believed small exporters in the country would be hard hit, as 59 percent of them trade with the United States. “Tariffs will cause untold damage to small businesses trying to trade their way into profit,” said Tina McKenzie, the FSB’s policy chair.
The Manufacturers Association of Israel (MAI) said in a statement Thursday that the United States imposing a 17-percent tariff on imports from Israel is worrying. “The decision of the U.S. President to apply the tariff policy to Israel could harm Israel’s economic stability, deter foreign investment in the economy, and weaken the competitiveness of Israeli companies in the U.S. market,” it said in a statement.
On Tuesday, Israel announced the lifting of all tariffs imposed on imports from the United States, but the move failed to avert the new tariffs imposed by the United States.
COUNTERMEASURES PLEDGED
In Paris, French government spokesperson Sophie Primas said on Thursday the European Union (EU) is ready for a trade war, with retaliatory tariffs to be imposed on all goods and service products from the United States by the end of April.
The initial levies in retaliation to the U.S. tariffs on EU steel and aluminum products would be put in place around mid-April, and the tariffs targeting all American imports are expected to be ready probably by the end of April, she said when speaking to the broadcaster RTL on Wednesday.
In response to the U.S. tariffs, Britain’s Prime Minister Keir Starmer told business leaders gathering at 10 Downing Street on Thursday morning that the close ally of the United States is “prepared.” “Decisions we take in the coming days and weeks will be guided only by our national interest. In the interest of our economy,” Starmer said.
On Wednesday before Trump’s announcement of the new tariffs, Italian Prime Minister Giorgia Meloni reiterated her call for negotiations to avoid a trade war with the United States, while signaling a shift away from her previous opposition to European retaliatory tariffs.
“We must work in every way to avert a trade war,” she said during a cultural event. “But this obviously does not rule out considering appropriate responses to defend our industries if necessary.”
In Brazil, the National Congress passed legislation allowing the South American country to impose reciprocal trade and environmental measures in response to foreign restrictions, on Wednesday just hours after Trump’s announcement of the sweeping tariffs.
