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Global Reactions to Trump’s Tariff Announcement

Italian Prime Minister Giorgia Meloni expressed her disapproval of the newly announced US tariffs on European Union imports, labeling them as “wrong.” This statement follows US President Donald Trump’s declaration of a 20% tariff on EU goods, part of a series of protectionist measures he referred to as a “liberation day” initiative.

Starting April 5, President Trump will implement a universal baseline tariff of 10% on all imports entering the US, with heightened tariffs slated for approximately 60 countries, including EU nations, beginning April 9. Some smaller countries, such as Lesotho, will face even steeper levies of up to 50%.

In making the announcement, Trump argued that these tariffs would “make America rich again” and claimed to have acted with considerable restraint in his approach. Meloni, despite being an ally of Trump, conveyed that the tariffs would ultimately be disadvantageous for both the EU and the US, and she expressed her intent to negotiate with American officials to avert a potential trade conflict.

In Spain, Prime Minister Pedro Sánchez emphasized his government’s commitment to safeguarding local businesses and workers, reiterating Spain’s dedication to an open international trade environment. Meanwhile, Irish Trade Minister Simon Harris advocated for negotiations with the US, believing it to be the most constructive path forward. Taoiseach Micheál Martin described Trump’s tariff decisions as “deeply regrettable,” stressing that they would provide no benefits.

Beyond Europe, Australian Prime Minister Anthony Albanese cautioned that American consumers would ultimately bear the brunt of what he termed “unjustified tariffs”. He clarified that Australia would refrain from retaliatory actions, stating, “We will not join a race to the bottom that leads to higher prices and slower growth.”

In Latin America, Brazil’s Congress took steps to counter the proposed 10% tariff with the approval of the Economic Reciprocity Law. While President Luiz Inácio Lula da Silva had not publicly responded to the latest developments, he previously indicated that Brazil could not remain passive in response to the tariffs.

Following Trump’s tariff announcement, US Treasury Secretary Scott Bessent warned other nations against retaliatory measures, urging them to “sit back and take it in.” He cautioned that retaliation could lead to further escalation in trade tensions.

Notably absent from Trump’s tariff announcements were mentions of Canada and Mexico, the US’s two largest trading partners. According to the White House, the administration will address both nations based on previous executive orders that included 25% tariffs primarily aimed at tackling issues related to fentanyl and border security.

Canadian Prime Minister Mark Carney noted that his country would still feel the impact of the tariffs despite this approach, highlighting that the new 25% automobile tariff set to take effect at midnight would “directly affect millions of Canadians.” He vowed to respond with countermeasures, asserting that these tariffs would significantly alter the global trading landscape.

Source
www.bbc.com