Skip next section Taiwan calls new US tariffs ‘highly unreasonable’
04/03/2025April 3, 2025
Taiwan calls new US tariffs ‘highly unreasonable’
The executive branch of ‘s government, the Cabinet, has called the 32% tariff imposed on its exports to the US “highly unreasonable” and “unfair” and said it would engage in stern negotiations with Washington.
“The tariff rate does not accurately reflect the actual Taiwan-US trade situation and is unfair to Taiwan,” Cabinet spokeswoman Michelle Lee said in a statement.
She said Premier Cho Jung-tai had instructed the Office of Trade Negotiations to ask for an explanation from the US trade representative.
Taiwan, the US’s seventh-largest trading partner, imposes a 64% tariff on US imports.
Lee said the tariffs imposed by Trump ignored the complementary nature of Taiwan-US trade, adding that a recent surge in exports from Taiwan to the US resulted from rising US demand for and AI products.
In 2024, Taiwanese exports to the US rose by 32.5%.
https://p.dw.com/p/4scTu
Skip next section German economy minister calls for EU unity in the face of tariffs
04/03/2025April 3, 2025
German economy minister calls for EU unity in the face of tariffs
German Economy Minister said on Thursday that it was crucial for the to give a unified response to the trade tariffs imposed by the US.
“Europe’s strength is our strength. We have the largest single market in the world. We must utilize this strength,” Habeck said in a statement.
Habeck criticized the tariffs, saying they could cause huge economic damage across the world.
“The US obsession with tariffs could put a spiral in motion that can tear countries into recession and cause massive damage worldwide,” he said, adding that this will have “dire consequences for many people.”
Habeck insisted that the EU had “always urged negotiations rather than confrontation” but that if the US did not want a negotiated resolution, the bloc would “give a balanced, clear and resolute response.”
He also questioned Trump’s use of the term “Liberation Day” in connection with the new tariffs, saying that “for the consumers in the US, the day will not be Liberation Day, but Inflation Day.”
https://p.dw.com/p/4scNr
Skip next section List of Trump’s ‘reciprocal tariffs’
04/03/2025April 3, 2025
List of Trump’s ‘reciprocal tariffs’
While announcing the new, sweeping tariffs on what he called “Liberation Day,” Trump held up boards showing the levies to be imposed on imports from various countries.
Based on the information on the charts, the US is imposing a tariff rate of around half of what most countries charged. In some cases, the US will be charging the exact rates charged by the countries affected.
Here is the list of tariffs Trump displayed, as given by Reuters news agency: Algeria 30%Oman 10%Uruguay 10%Bahamas 10%Lesotho 50%Ukraine 10%Bahrain 10%Qatar 10%Mauritius 40%Fiji 32%Iceland 10%Kenya 10%Liechtenstein 37%Guyana 38%Haiti 10%Bosnia and Herzegovina 35%Nigeria 14%Namibia 21% Brunei 24% Bolivia 10% Panama 10% Venezuela 15% North Macedonia 33% Ethiopia 10% Ghana 10% 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 44% Tunisia 28% Kazakhstan 27% Serbia 37% Egypt 10% Saudi Arabia 10% El Salvador 10% Cote d’Ivoire 21% Laos 48% Botswana 37% Trinidad and Tobago 10% Morocco 10%
https://p.dw.com/p/4scLJ
04/03/2025April 3, 2025
Tariffs should spur free trade with other partners besides US: EU Council president
Europe should strive for free trade agreements with other global partners in view of the trade tariffs now imposed by Washington, European Council President Antonio Costa said.
“We will engage with all our partners and continue to strengthen and expand our trade network. Now is the time to ratify the agreements with Mexico and decisively advance in the negotiations with India and other key partners,” Costa said in a post on X, formerly Twitter.
Just ahead of Trump’s inauguration in January, the EU announced an agreement with Mexico to strengthen trade relations in view of the likelihood of new US tariffs under the incoming president.
The EU but the deal still needs to be ratified by at least 15 of the European Union’s 27 member nations representing a minimum of 65% of the EU population.
particularly from and Poland, who say it will mean an undermining of European agricultural standards.
https://p.dw.com/p/4scKo
Skip next section EU’s von der Leyen says Trump tariffs ‘major blow’ to global economy
04/03/2025April 3, 2025
EU’s von der Leyen says Trump tariffs ‘major blow’ to global economy
European Commission President has warned that the tariffs announced by Trump are likely to cause great harm to the global economy and people’s livelihoods.
“President Trump’s announcement of universal tariffs on the whole world, including the EU, is a major blow to the world economy,” she said.
“Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe,” she added.
Von der Leyen said that the EU was already preparing moves to counteract the tariffs if negotiations did not succeed in resolving the trade conflict with the US.
“We are already finalizing a first package of countermeasures in response to tariffs on steel. And we are nowpreparing for further countermeasures, to protect our interests and our businesses if negotiations fail,” she said.
Trump has imposed new tariffs of 20% on imports from the EU after previously as well as cars and auto parts from the bloc.
https://p.dw.com/p/4scJy
Skip next section Welcome to our coverage04/03/2025April 3, 2025
Welcome to our coverage
Countries around the world are considering how best to respond after US President on Wednesday claiming that his country has long been the victim of unfair trade practices.
Many economic experts are sounding the alarm, warning of major damage to the global economy and people’s livelihoods, while financial markets have already reacted negatively.
You can read more here about the fallout from Trump’s dramatic decision as he pursues his “America First” strategy.
https://p.dw.com/p/4scJe
The post Germany urges EU unity after Trump unveils sweeping tariffs appeared first on Deutsche Welle.
