In April, former U.S. President Donald Trump’s aggressive tariff policy sparked fierce backlash worldwide, with major economies threatening retaliation and experts warning of a potential global trade war. Here’s how key nations responded:
### **🇨🇳 China: Retaliatory Tariffs Imposed**
- **Response:** Strongly opposed the **34% tariffs**, calling them a violation of trade rules.
- **Action:** Slapped **34% tariffs on U.S. goods**, targeting agriculture.
### **🇯🇵 Japan: A "National Crisis"**
- **Impact:** **24–25% tariffs on cars & parts** could cripple Japan’s auto industry.
- **Criticism:** Trade Minister accused the U.S. of breaking **WTO rules**.
### **🇪🇺 EU: "Massive Blow to Global Economy"**
- **Response:** European Commission President **Ursula von der Leyen** warned of retaliation.
- **Germany’s Auto Industry:** Pushing for urgent negotiations.
### **🇻🇳 Vietnam: Emergency Meetings Held**
- **Fear:** **46% tariffs** may derail its **8% GDP growth target** for 2025.
- **Strategy:** Diversifying exports & strengthening domestic markets.
### **🇨🇦 Canada & 🇦🇺 Australia: Allies Turned Foes?**
- **Canada:** PM **Mark Carney** vowed to protect workers.
- **Australia:** PM **Anthony Albanese** called the **10% tariffs** "illogical."
### **Exempted Nations: 🇷🇺 Russia, 🇰🇵 North Korea, 🇨🇺 Cuba, 🇧🇾 Belarus**
- No additional tariffs due to **existing sanctions**.
### **Global Economic Shockwaves**
- **Stocks:** Nasdaq **↓5.3%**, Dow Jones **↓3.3%**.
- **Currencies:** Yen & Ringgit **↑**, Peso & Yuan **↓**.
- **Stagflation Risk:** Rising prices + falling demand = economic trouble ahead.
### **Other Key Players**
- **🇮🇳 India:** Sees opportunity to **replace China & Vietnam** in exports.
- **🇸🇬 Singapore:** PM **Lawrence Wong** warns of **global trade war risks**.
- **🇰🇭 Cambodia:** Plans negotiations despite "limited impact."
### **Conclusion**
Trump’s tariffs have **rattled markets**, **angered allies**, and **risked a full-blown trade war**. Will negotiations prevail, or will retaliatory measures escalate?
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