Trump's Tariffs Spark Global Trade Tensions and Retaliation Threats

U.S. President Donald Trump's new tariffs on imports have triggered international reactions, including threats of retaliation and calls for negotiation. China accused the U.S. of "bullying," while the EU expressed readiness for "robust" countermeasures, potentially targeting U.S. tech giants with taxes. Other nations, like the UK and Japan, hope for a deal with the U.S. Trump stated the tariffs, ranging from 10% to 49%, aim to bring factories and jobs back to the U.S., asserting that "Taxpayers have been ripped off for more than 50 years." The U.S. imposed tariffs of 34% on Chinese goods, 20% on EU goods, 24% on Japanese goods, and 25% on South Korean goods. China has announced retaliatory measures, and Foreign Ministry spokesperson Guo Jiakun stated, "There are no winners in trade wars and tariff wars." French President Emmanuel Macron urged businesses to suspend U.S. investments. European Commission President Ursula von der Leyen called the levies a "major blow to the world economy." The EU is considering taxing U.S. digital giants like Google, Apple, Meta, Amazon, and Microsoft. Outgoing German Chancellor Olaf Scholz emphasized the need for the EU to show strength while aiming for an agreement. British Prime Minister Kier Starmer hopes for a trade deal to rescind the tariffs. Japan plans to assess the tariffs' impact. The tariffs jolted financial markets, causing declines in the U.S., Europe, and Asia. The head of the World Trade Organization warned of "substantial implications," predicting a drop in global trade volumes. A 29% tariff on Norfolk Island, a remote South Pacific territory governed by Australia, caused confusion, as the island does not export to the U.S. Other sparsely populated territories also face tariffs, while Russia was excluded from the list.