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World leaders criticised Trump's move, with some vowing retaliation while others, like Australia, refrained from imposing countermeasures to avoid escalating trade tensions.
New Delhi,UPDATED: Apr 3, 2025 07:38 IST
United States President Donald Trump's reciprocal tariffs, announced on Wednesday, triggering broader trade wars and threatened to upend the global economy.
The tariffs, which Trump called "kind reciprocal", also target India, which the US President has called the country the 'king of tariffs' in the past and has now charged India 26 per cent of its imports.
China will face a 34% tariff, while the European Union and Japan will be subject to rates of 20% and 24%, respectively. India’s import duty will be set at 26%.
Shortly after the tariffs were announced, global leaders reacted strongly and vowed to fight back.
Here’s how much each country would be charged on imports.
CHINA
China is one of the countries deemed the "worst offenders" by Trump, with a 54% tax rate added to its goods.
A commentary piece in China's state-run news agency Xinhua said Washington's "rampage" amounted to "self-defeating bullying" and an "oversimplistic tit-for-tat game".
AUSTRALIA
Australia PM Anthony Albanese said Americans would end up paying the biggest price for what he called "unjustified tariffs". However, he also said his government would not impose reciprocal measures.
"It is the American people who will pay the biggest price for these unjustified tariffs. This is why our government will not be seeking to impose reciprocal tariffs. We will not join a race to the bottom that leads to higher prices and slower growth," he said.
SOUTH KOREA
South Korea's acting President Han Duck-soo has ordered emergency support measures for businesses that will be impacted by the imposition of US tariffs, including automobiles, reported by Reuters.
ITALY
Meloni, a Trump ally, said the EU tariffs would "not suit either party" - referring to the EU and the US - but that she would work towards a deal with the US to "prevent a trade war".
SPAIN
Spain's Pedro Snchez said Spain would protect its companies and workers and "continue to be committed to an open world."
IRELAND
Irish trade minister Simon Harris said he was ready to negotiate with the US, calling it the "best way forward", while Taoiseach Michel Martin said Trump's decision was "deeply regrettable" and benefitted "no-one".
UK
UK Prime Minister Keir Starmer, who made intense comments, said a "trade war is in nobody's interests."
"We have prepared for all eventualities -- and we will rule nothing out," he told parliament.
SWEDEN
Sweden Prime Minister Ulf Kristersson noted that his nation doesn't want growing trade barriers. "We don't want a trade war ... We want to find our way back to a path of trade and cooperation together with the US, so that people in our countries can enjoy a better life," he said.
Published By:
Priya Pareek
Published On:
Apr 3, 2025
