Over 50 Countries Throw in the Towel to Trump's Tariffs, China, EU and Canad...

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AsianFin -- Over 50 countries and territories have contacted Washington to initiate trade discussions since Trump announced a new round of tariffs on April 3, while major economies including China, EU, and Canada have retaliated.

China

China announced on Friday that it will impose a 34% tariff on all imports from the United States starting April 10, delivering on its promise to retaliate after US President Donald Trump escalated the ongoing global trade dispute.

China, Japan and South Korea agreed to jointly respond to U.S. tariffs, an assertion Seoul called "somewhat exaggerated", while Tokyo said there was no such discussion

European Union

European Commission President Ursula von der Leyen criticized Trump’s sweeping tariffs, calling them a significant blow to the global economy. She warned that the European Union is ready to act if negotiations with Washington do not yield progress.

Von der Leyen said that the EU is in the final stages of preparing an initial package of retaliatory tariffs targeting up to €26 billion ($28.4 billion) worth of US goods. The move is in direct response to the US steel and aluminum tariffs that came into effect on March 12, with the EU’s measures expected to be implemented by mid-April.

On Saturday, Elon Musk advocated for a "zero tariff situation" between the U.S. and Europe, as concerns over Trump's new, large-scale tariff regime weighed on the stock market.

Canada

Canadian Prime Minister Mark Carney has pledged a firm and deliberate response to the latest round of tariffs announced by US President Donald Trump, declaring Canada will act "with purpose and with force."

Carney temporarily suspended his federal election campaign for the second time in two weeks to address Trump’s new trade measures, unveiled on Wednesday.

The newly introduced universal 10% tariff on US imports will apply globally, though Canada has been exempted—having already been hit by separate tariffs imposed by the Trump administration.

Japan

Japan is weighing a prompt but carefully considered response after being unexpectedly included in the list of countries targeted by new US tariffs, which imposed a steep 24% rate on Japanese exports.

“This requires a careful, yet bold and speedy approach,” said Trade Minister Yoji Muto in response to the announcement. “It is crucial that we make a calm and rational judgment on this matter.”

While retaliation remains on the table, Muto emphasized that the government is still evaluating its options and will proceed with a measured strategy.

South Korea

South Korea’s Finance Minister Choi Sang-mok announced Monday that the government is preparing targeted support for industries most vulnerable to the upcoming 25% US tariff, set to take effect later this week.

"The minister emphasized the importance of assessing the broader macroeconomic impact and prioritizing assistance for sectors with urgent needs," the finance ministry said in a statement.

Singapore

Singapore’s Trade Minister Gan Kim Yong voiced disappointment on Thursday over the United States’ decision to impose a 10% tariff on Singaporean exports, despite the two countries having a free-trade agreement and Singapore running a trade deficit with the US.

Speaking at a press conference, Gan noted that while Singapore has the option to take countermeasures under the terms of the free-trade agreement in place since 2004, it has opted not to retaliate at this time.

Malaysia

Malaysia will take the lead in coordinating a regional response to US President Donald Trump’s newly imposed tariffs, Prime Minister Anwar Ibrahim announced.

“As ASEAN chair, Malaysia will spearhead efforts to present a united regional front, maintain open and resilient supply chains, and ensure ASEAN’s collective voice is heard clearly and firmly on the international stage,” Anwar said in a video address shared on his social media platforms late Sunday.

Anwar also revealed in a separate post that he spoke with Vietnamese Prime Minister Pham Minh Chinh regarding a coordinated regional strategy. Additionally, he discussed the tariff issue with Indonesian President Prabowo Subianto, who arrived in Malaysia on Sunday evening.

Countries within the Association of Southeast Asian Nations (ASEAN) — a bloc of ten nations — have been among the most severely impacted by the US tariffs. Vietnam and Cambodia face steep rates of 46% and 49% respectively, while Malaysia has been hit with a 24% tariff under the Trump administration’s trade measures.

Australia

Australian Prime Minister Anthony Albanese on Thursday criticized US President Donald Trump’s decision to impose a 10% tariff on Australian goods, calling it “not the act of a friend.” Despite the strong words, Albanese confirmed that Australia would not respond with reciprocal tariffs.

Taiwai region

Taiwan authority has proposed zero tariffs as a foundation for talks with the US. He also indicated that Taiwan is preparing to expand its purchases of American goods, including agricultural products, industrial supplies, and defense equipment.

Indonesia

Indonesia will not retaliate against Trump's 32% trade tariff on Southeast Asia's largest economy, its senior economic minister said on Sunday in the government's first response to the levy.

India

India has signaled it will refrain from imposing retaliatory tariffs. Instead, it is reportedly open to reducing duties on more than half of US imports in a bid to protect its own export interests, government officials told Reuters last week. During his announcement, Trump referred to Indian Prime Minister Narendra Modi as a “great friend,” though he criticized India for “not treating [the US] right.”

Vietnam

Vietnam's Communist Party leader To Lam was among the first to initiate contact with Trump after the tariff rollout. He reportedly urged the US to delay the tariffs while both sides work toward an agreement. With the US as Vietnam's largest export market, the country faces one of the steepest penalties—a 46% tariff rate.

Israel

Israeli Prime Minister Benjamin Netanyahu is scheduled to visit Washington on Monday to discuss the tariffs, among other matters. Netanyahu stated he would be "the first international leader" to meet with Trump following the trade measures.

Other countries

More than 50 countries and territories have reached out to Washington for trade talks since Trump announced a new round of tariffs on April 3, according to US officials.

U.S. President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish.

Some countries will only face the base rate of 10%. These include:

• United Kingdom
• Singapore
• Brazil
• Australia
• New Zealand
• Turkey
• Colombia
• Argentina
• El Salvador
• United Arab Emirates
• Saudi Arabia

The key trading partners subject to these customised tariff rates include:

• European Union: 20%
• China: 54% (which includes earlier tariffs)
• Vietnam: 46%
• Thailand: 36%
• Japan: 24%
• Cambodia: 49%
• South Africa: 30%
• Taiwan region: 32%