The U.S. "Tariff War": Multiple Parties Pledge Countermeasures

U.S. President Donald Trump signed two executive orders on the afternoon of April 2 local time, announcing that the United States will impose a 10% "minimum base tariff" on its trading partners and higher tariffs on certain trading partners. The European Union and several U.S. trading partners have expressed regret over this move and plan to take countermeasures.

Trump claimed that April 2, the day when tariffs on trading partners began to be levied, was the "Liberation Day" for the United States.

1. Manfred Weber, the chairman of the European People's Party, the largest political group in the European Parliament, said on the evening of April 2: "For our American friends, today is not 'Liberation Day' but 'Resentment Day'. Trump's tariff policy is not about defending fair trade; it is an attack on fair trade out of fear."
2. Robert Habeck, Germany's Deputy Chancellor and Minister of Economic Affairs, also criticized on April 3 that for American consumers, April 2 will not be "Liberation Day" but "Inflation Day". The United States' "tariff frenzy" will not only push up inflation and hurt domestic consumers but may also drag some countries into economic recession, bringing serious consequences to many people. The EU has always advocated negotiation rather than confrontation, but if the U.S. side does not want to reach a solution through negotiation, the EU will respond in a "balanced, clear and firm" manner.
3. Maros Sefcovic, the European Commission Commissioner responsible for trade and economic security, said that unreasonable tariffs will ultimately backfire, and the EU will respond in a calm, step-by-step and united manner. It is reported that Sefcovic will hold talks with U.S. officials on April 4, hoping to avoid the U.S. initiating a new round of tariff measures through negotiation.
4. French President Emmanuel Macron described Trump's tariff policy as "barbaric" and "unfounded", and urged French companies to suspend investment in the United States. Sophie Primas, a spokeswoman for the French government, said that the EU's second round of countermeasures against the new U.S. tariff policy may be ready before the end of April, mainly imposing broad tariffs on U.S. products and services.
5. Spanish Prime Minister Pedro Sanchez said on April 3 that the new U.S. tariff policy is "19th-century protectionism". The EU and Spain must take active and proactive actions and achieve diversified economic ties with other countries. Sanchez said that the Spanish government will implement a spending plan of 14.1 billion euros to mitigate the impact of the new U.S. tariff policy. Sanchez also called for resolving issues with the United States through negotiation.
6. Norwegian Foreign Minister Ine Eriksen Soreide said that the new U.S. tariff policy may harm the interests of NATO allies. If NATO is to be strong, it should "ensure that NATO countries achieve the highest possible economic growth". Polish Prime Minister Mateusz Morawiecki also said that the new U.S. tariff policy will reduce Poland's GDP by 0.4%.
7. The British government announced on April 3 that it will launch a one-month consultation process on imposing retaliatory tariffs on the United States in response to the U.S. trade restrictions on British exports in recent days. This consultation aims to give British companies the opportunity to express their opinions and participate in formulating necessary countermeasures.
8. Dmitry Medvedev, Deputy Chairman of the Security Council of the Russian Federation, said on April 3 that the United States has imposed tariffs on almost the whole world, "seriously damaging" the global trade system. The impact of the U.S. move is global, and other countries will also impose retaliatory tariffs on U.S. goods.
9. Australian Prime Minister Anthony Albanese said that the U.S. "equivalent tariff" policy has no logical basis and is "not the behavior of a friend". Australia will not seek to impose equivalent tariffs on U.S. products and will not join a race to the bottom that leads to price increases and slower growth.
10. New Zealand Prime Minister Chris Luxon said that tariffs and trade wars are not the solutions to problems. The increased tariffs will be passed on to U.S. consumers, and the United States will face rising prices, increased inflation and slower economic growth, thus putting pressure on the whole world.
11. The Thai government said in a statement that the new U.S. tariff policy will "inevitably" affect all trading partners and will seriously impact the purchasing power of U.S. consumers, who may not be able to afford the rapid price hikes. The Thai government encourages its exporters to seek new potential markets to reduce dependence on a single market. The statement said that Thailand has formulated "mitigation measures" to support those exporters particularly affected.
12. Although Canada is not included in the scope of the "equivalent tariff", the U.S. policy of imposing a 25% tariff on Canadian goods such as automobiles came into effect on April 3. Canadian Prime Minister Justin Trudeau announced on the same day that Canada will impose a 25% retaliatory tariff on imported U.S. automobiles, and said that Trump's actions will have an impact on Canada and the world. These actions are "unreasonable, unfounded" and "wrong in our view".
13. Singapore Deputy Prime Minister Heng Swee Keat said that the new tariff measures may lead to a "lose-lose situation".
14. Nguyen Hong Dien, Minister of Industry and Trade of Vietnam, asked the United States to suspend tariffs on Vietnam.
15. A spokesman for the Cambodian Ministry of Commerce said that the tariffs imposed by the United States on Cambodia are "unreasonable".