The trade war began, and China hit Donald Trump with retaliatory tariffs, the EU, Vietnam, Taiwan, Japan, and retaliatory tariffs slapped us…
Despite China’s announcement of retaliatory tariffs of 34%, Vietnam, Singapore, the EU, a 27-member country group, Japan is preparing to return soon.
US President Donald Trump
Many fight back by imposing retaliatory tariffs on the United States after U.S. President Donald Trump announced reciprocal tariffs on more than 180 countries. Despite China’s announcement of retaliatory tariffs of 34%, Vietnam, Singapore, the EU, a 27-member country group, Japan is preparing to return soon.
China imposes 34% retaliatory tariffs
China responded to the U.S. imports of all U.S. products starting April 10, and the U.S. tariffs on 34% of U.S. imports to China.
In contrast to earlier U.S. trade penalties, Beijing fought back with targeted actions, and its general tariffs on all U.S. products.
Beijing’s commerce ministry said it will impose more export controls on rare earths, materials used in high-tech products such as computer chips and electric vehicle batteries.
The list includes the Samaritan Islands and its compounds used in the aerospace manufacturing industry and defense sectors.
China Customs Administration said it has suspended imports of chickens from two U.S. suppliers, Mountel Farm in Delaware and coastal processing. It said that Chinese customs have been found several times in the transportation of these companies in China forbidden use of the drug Furazolidone.
In addition, the Chinese government said it has added 27 companies to the list of companies subject to trade sanctions or export control measures.
China filed a lawsuit in WTO
For good measures, China also filed a lawsuit with the World Trade Organization, saying that U.S. tariffs are “typical unilateral bullying that endangers the stability of the global economic and trade order.”
Taiwan
Taiwan’s president promises to support Trump’s orders to be the most vulnerable to 32% tariffs in the announcement of “Liberation Day” mutual tariffs.
Taiwan President Lai Ching-te said he would provide “the greatest support” to industries that are most affected by the new tariffs. Taiwan’s trade surplus with the United States is relatively high, partly because the island is a major source of computer chips and other advanced technologies.
“We think this is unreasonable and are also concerned about the impact these measures may have on the global economy,” Lai said in a statement on his Facebook page. Lai said he directed Prime Minister Cho Jung-tai to work closely with the affected industries and communicate with the public about its plans to stabilize the economy.
Vietnam
Vietnam said its deputy prime minister would visit the United States for talks on trade. Some, such as the head of the European Commission of the European Union, vowed to fight back while pledging to improve the free trade rules. Others said they hope to provide relief with the Trump administration.
Vietnamese Foreign Ministry spokesman Pham Thu Hang said Hanoi will continue to talk to the United States to “find a practical solution” as 46% of U.S. tariffs threaten to reduce exports of footwear, electronics, textiles and seafood.
Hang said in a comment cited by state-owned media: “If enforced, it will have a negative impact on bilateral economic and trade relations and on the interests of enterprises and peoples of both countries.
Japan: We need to talk
Most U.S. trading partners stressed that they hope that negotiations could help resolve trade frictions with Washington. Japanese Prime Minister Shigeru Ishiba said he was preparing to fly to Washington in a final effort to stop Trump from ordering 24% tariffs exported from Asia’s largest U.S. allies.
Japan’s leader Ishiba and other governments also said they are preparing countermeasures to support the industry’s response.
European Union
“The global trade system has serious flaws,” EU European Commission President Ursula von der Leyen said on Thursday during a visit to Uzbekistan.
Similarly, Von der Leyen said the EU is consulting with steel and automakers, pharmaceutical companies and other industries to give them how to give them more “breathing space”.
But she laughed at Trump, saying: “It is not possible to solve the tariffs as your first and last tool. That’s why we’ve been preparing to negotiate with the United States.”
EC President Von der Leyen said Europe will work hard to build more bridges, and as a regional economic group larger than the United States, it also has its own huge market.
Italy
In Italy, Prime Minister Giorgia Meloni told state television that she believes the 20% U.S. tariffs on European exports are wrong, but “some people make it a reality is not a disaster.”
Her administration plans to meet with representatives from affected departments next week to develop plans. “We need to have an honest discussion about issues with Americans, at least from my point of view, the goal is to eliminate tariffs, not multiply them,” Meloney said.
(Input with PTI)
