- Financial markets have been rattled by the tariffs, with major indices such as the S&P 500 and STOXX Europe 600 seeing significant losses
WASHINGTON (Agencies): U.S. President Donald Trump’s newly imposed tariffs have sent shockwaves through the global economy, triggering widespread dismay, threats of retaliation, and urgent calls for negotiations. The tariffs, which range from 10% to 49%, target goods from dozens of nations, including key U.S. trading partners such as China, the European Union, and Japan.
China: The Chinese government has accused the U.S. of “bullying” and has announced retaliatory measures that could increase prices for American consumers. Officials warned that these tariffs would hurt U.S. consumers and businesses, further straining economic ties.
European Union: French President Emmanuel Macron urged European businesses to suspend investments in the U.S. until the trade conflict is resolved. European Commission President Ursula von der Leyen called the tariffs a “major blow to the world economy,” stressing the negative impacts on global trade and economic stability.
Japan: Japan has indicated that it will analyze the impact of the tariffs before taking any immediate retaliatory steps. However, concerns about the long-term effects on the global market remain high.
Financial markets have been rattled by the tariffs, with major indices such as the S&P 500 and STOXX Europe 600 seeing significant losses. Additionally, oil prices have dropped, reflecting uncertainty in global trade dynamics. Analysts are warning that if the tariffs continue, they could lead to recessions in multiple countries, further destabilizing the global economy.
Affected Countries and Tariff Rates
The tariffs, which include a baseline 10% tax on imports, come with additional reciprocal rates based on existing trade barriers:
List of reciprocal tariffs by country –
- China: 34%
- European Union: 20%
- Vietnam: 46%
- Taiwan: 32%
- Japan: 24%
- India: 26%
- South Korea: 25%
- Thailand: 36%
- Switzerland: 31%
- Indonesia: 32%
- Malaysia: 24%
- Cambodia: 49%
- United Kingdom: 10%
- South Africa: 30%
- Brazil: 10%
- Bangladesh: 37%
- Singapore: 10%
- Israel: 17%
- Philippines: 17%
- Chile: 10%
- Australia: 10%
- Pakistan: 29%
- Turkey: 10%
- Sri Lanka: 44%
- Colombia: 10%
- Peru: 10%
- Nicaragua: 18%
- Norway: 15%
- Costa Rica: 10%
- Jordan: 20%
- Dominican Republic: 10%
- United Arab Emirates: 10%
- New Zealand: 10%
- Argentina: 10%
- Ecuador: 10%
- Guatemala: 10%
- Honduras: 10%
- Madagascar: 47%
- Myanmar (Burma): 44%
- Tunisia: 28%
- Kazakhstan: 27%
- Serbia: 37%
- Egypt: 10%
- Saudi Arabia: 10%
- El Salvador: 10%
- Côte d’Ivoire: 21%
- Laos: 48%
- Botswana: 37%
- Trinidad and Tobago: 10%
- Morocco: 10%
President Trump defended the tariffs, calling them a necessary measure to protect American industries and jobs. He stated, “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore,” positioning the tariffs as a step toward reducing the U.S. trade deficit and reshaping the global economic order in favor of American interests.
As nations call for negotiations to prevent further escalation, others are preparing strong countermeasures. The situation remains fluid, with the potential for significant shifts in global trade relations in the coming months. The outcome of this global standoff could have far-reaching consequences for international trade, global markets, and economic stability worldwide.