Global Officials Seek to Ensure Trump Tariff Reprieve Sticks

Key Points

  • US President Donald Trump's 90-day pause on higher tariffs for dozens of trade partners elicited varied responses from relief to mockery in Asia and Europe.
  • Countries like Vietnam and Japan are pushing for permanent tariff relief, while South Korea and Thailand see the pause as an opportunity to negotiate and adjust trade balances.
  • The EU has also delayed its counter tariffs against the US, aiming to give negotiations a chance.
  • China criticized the US tariffs, advocating for "win-win" trade relations, while Trump increased tariffs on Chinese imports to 125%.
  • Australia's Prime Minister Anthony Albanese criticized the US tariff regime as self-harm, and India plans to use the 90-day window to negotiate a trade pact.

Summary

US President Donald Trump's decision to pause higher tariffs for 90 days on dozens of trade partners has sparked a range of reactions across Asia and Europe. Countries like Vietnam and Japan, previously facing significant levies, are now seeking to make this reprieve permanent. South Korea and Thailand view the pause as a chance to minimize disruptions and balance trade with the US. Meanwhile, China has called for the US to cancel its unilateral tariffs, emphasizing the benefits of cooperative trade relations. In response to Trump's tariff hikes, China plans to impose an 84% duty on American goods. The EU has also delayed its counter tariffs, hoping to foster negotiations. Amidst these developments, Australia's Prime Minister Anthony Albanese has criticized the US tariff strategy as self-damaging, while India aims to leverage the pause for trade negotiations. The pause has provided a temporary relief from market turmoil and recession fears, allowing for potential trade talks and adjustments.

yahoo
April 10, 2025
Stocks
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