Financial markets around the world , and the U.S. stock market may be taking the worst of it. Little was spared as fear flared globally about the potentially higher inflation and weakening economic growth that tariffs can create. Prices fell for everything from crude oil to Big Tech stocks to small companies that invest only in U.S. real estate.
The U.S. Senate voted 51-48 to counter Trump鈥檚 tariffs on Canada by ending on fentanyl Trump used to justify them. The resolution has little chance of passing the Republican-controlled House but shows the limits of GOP support for Trump鈥檚 vision of remaking the U.S. economy by restricting free trade.
A new AP-NORC poll shows Trump鈥檚 dramatic changes to the federal government have yet to emerge as an obvious political winner or loser.
And while U.S. Secretary of State and the Trump administration鈥檚 new envoy to the current Supreme Allied Commander Europe tells senators that if the U.S. relinquishes this commander role, it could put large numbers of U.S. troops under non-U.S. command for the first time since the First World War.
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Here's the latest:
China鈥檚 economy would 鈥榗ollapse鈥 if US consumers turn them back, US ambassador pick says
Trump鈥檚 pick as ambassador to China told lawmakers on Thursday it鈥檚 time to 鈥渟tand up鈥 against unfair trade practices by the United States鈥 top trade rival.
David Perdue, a wealthy businessman and former U.S. senator from Georgia, spoke at his confirmation hearing before the Senate Foreign Relations Committee.
Economists warn of higher prices for American consumers as one result of Trump鈥檚 sweeping new tariffs, including a 34% levy on Chinese imports.
Perdue acknowledged that some sacrifices are needed, because 鈥渨hat we鈥檝e become seduced by are the cheap prices that we gave in to over the last 30 years coming out of China.鈥
鈥淚f the American public says enough鈥檚 enough, what will happen to their economy?鈥 Republican Sen. Rick Scott of Florida asked of China.
鈥淚t鈥檒l collapse,鈥 Perdue answered.
Republicans react to market plunge
Sen. Tommy Tuberville, R-Ala., brushed off the harsh reaction financial markets are having to Trump鈥檚 new tariffs.
鈥淭hey鈥檙e all emotional. I鈥檝e invested in the stock market for years. They go up and down on whether it rains or doesn鈥檛 rain,鈥 Tuberville said. 鈥淚t鈥檒l all turn around.鈥
Sen. Jim Justice, R-W.Va., said it鈥檚 ok to have concerns about the tariffs, but he has confidence in Trump, and 鈥渁s we move along, if we need to adjust, we adjust.鈥
Justice also said 鈥渨e got to give it some time鈥 in evaluating whether the tariffs are working. 鈥淚t is a major reset to what we鈥檙e doing in this country, and anything that is a major reset, the markets usually act pretty severely to it.鈥
Italian trade group predicts massive job losses without a solution to Trump鈥檚 tariffs
Federvini has denounced the new U.S. tariffs as a 鈥渟evere blow against free trade鈥 that will impact 2 billion euros($2.2 billion) in Italian exports of wine and spirits, 40,000 producers and 450,000 workers.
鈥淲e have been through this before, and we know the cost all too well: such measures in the past have led to a drop in exports to the United States of up to 50%,鈥欌 Federvini President Micaela Pallini said in a statement.
鈥淣ow we risk reliving that economic trauma, with devastating consequences.鈥欌 She warned of a looming production and employment crisis if a solution cannot be negotiated, underlining that U.S. companies that import and distribute wines will also be impacted.
France鈥檚 president urges French industries to suspend US investments
Emmanuel Macron said it鈥檚 important 鈥渢hat future investments be suspended for a while until we鈥檝e clarified things with the U.S. ... because what would be the message of having major European players investing billions of euros (dollars) in the American economy at a time when they鈥檙e hitting us?鈥
Macron met Thursday in Paris with representatives of wines and spirits, food, cosmetics, health, metals, aeronautics and other industries. He called Trump鈥檚 announcement 鈥渂rutal鈥 and 鈥渦nfounded because you can鈥檛 correct trade imbalances by imposing tariffs.鈥
The European Union needs to respond in 鈥渢he most effective way鈥 to send 鈥渁 very clear message that we鈥檙e determined 鈥 to defend and protect ourselves,鈥 Macron said, noting that American tech giants now profit from digital services in Europe.
Canada to match Trump鈥檚 25% tariffs by taxing US vehicles 鈥 but not auto parts
Prime Minister Mark Carney said Canada will match the U.S. president鈥檚 25% auto tariffs with a tariff on vehicles imported from the United States 鈥 but not on their parts, as Trump did with his previously announced that took effect Thursday.
The prime minister said he told Trump last week in a phone call that he would be retaliating.
鈥淲e take these measures reluctantly. And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada,鈥 Carney said. He said Canada won鈥檛 tariff the parts because Canadians know the benefits of the integrated auto sector, where parts can cross the border multiple times as vehicles are assembled in Ontario or Michigan.
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Chuck Schumer: Why penguins and not Putin?
鈥淒onald Trump is using tariffs in the dumbest way imaginable. Donald Trump slapped tariffs on penguins and not on Putin,鈥 the minority leader said on the Senate floor Thursday.
Schumer was referring to Trump鈥檚 10% sanctions on the Heard and McDonald Islands, an Australian territory in the remote Antarctic. They鈥檙e mostly barren, with active volcanoes.
Vladimir Putin鈥檚 Russia, meanwhile, was left off Trump鈥檚 list, which also includes Jan Mayen, a small Norwegian island in the Arctic that possibly has more polar bears than people.
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Senators introduce bipartisan bill to expand congressional authority over tariffs
The legislation pushed by Iowa Republican Chuck Grassley and Washington Democrat Maria Cantwell would require presidents to justify new tariffs and secure congressional approval within 60 days, otherwise they would expire.
Grassley said he was working on this long before Trump introduced sweeping global tariffs. Whether it gains traction in the Republican-controlled Congress remains to be seen.
Congress already technically has authority over tariffs, but over the last century it has given much of that power to the president. This has effectively removed most of its check on executive power. Lawmakers have some standing to counter tariffs, such as nullifying a presidential emergency declaration, but such resolutions need to pass both chambers and then either be signed by the president, or have the votes to override a veto.
The National Endowment for the Humanities is terminating grants, recipients say
The NEH distributes hundreds of millions of dollars each year to state humanities councils, along with museums, historical sites, educational institutions and independent researchers. Projects have included organizing George Washington鈥檚 papers and supporting 鈥淎merican Prometheus,鈥 the J. Robert Oppenheimer biography that led to an Oscar-winning film.
Now NEH grant recipients are getting termination notices, according to the American Federation of Government Employees Local 3403.
鈥淐utting NEH funding directly harms communities in every state and contributes to the destruction of our shared cultural heritage,鈥 reads a statement from the National Humanities Alliance, a nationwide coalition of humanities advocates.
An NEH spokesperson did not immediately respond Thursday to a request for comment. The Trump administration has been dismantling institutions over what it calls 鈥渨oke鈥 culture.
Brazil鈥檚 Congress unanimously gives its president power to retaliate against Trump鈥檚 tariffs
President Luiz In谩cio Lula da Silva says his administration will take all necessary actions, based on World Trade Organization principles and a new reciprocity bill approved by Congress on Wednesday, to protect Brazil鈥檚 companies and workers after the United States imposed a 10% extra tariff on all Brazilian exports.
鈥淲e stand for multilateralism and free trade, and we will respond to any attempt to impose protectionism, which no longer has a place in today鈥檚 world,鈥 Lula said during an official ceremony in Bras铆lia.
The U.S. is Brazil鈥檚 top trade partner after China, importing Brazilian crude oil, aircraft, coffee, cellulose and beef. America鈥檚 trade surplus reached $28.6 billion in goods and services last year.
Brazil has said it remains open to dialogue aimed at reversing the extra tariffs, while also considering taking the case to the WTO and imposing reciprocal tariffs. Lula has yet to sign the bill into law.
Trump has moved to fire some NSC officials after Laura Loomer presentation, sources say
The president took action involving several senior White House officials soon after he was urged by the far-right activist to purge staffers she deemed insufficiently committed to his Make America Great Again agenda, according to several people familiar with the matter Thursday.
Loomer presented her research to Trump in an Oval Office meeting, making her case for the firings, the people said, speaking on condition of anonymity to discuss sensitive personnel matters. Vice President JD Vance, chief of staff Susie Wiles, national security adviser Mike Waltz and Serio Gor, the director of the Presidential Personnel Office, took part in the meeting, the people said.
NSC spokesman Brian Hughes declined to comment on the meeting or the firings.
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Schools must sign certification against DEI to receive federal money, Trump administration says
The Trump administration is ordering schools nationwide to certify that they are following federal civil rights laws 鈥 and eliminating 鈥 as a condition for receiving federal money.
A notice sent Thursday by the Education Department gives the nation鈥檚 states and schools 10 days to sign and return the certification. It marks another escalation in the Trump administration鈥檚 attack on diversity, equity and inclusion policies, apparently giving the administration a new lever for terminating federal money. 鈥淔ederal financial assistance is a privilege, not a right,鈥 Craig Trainor, acting assistant secretary for civil rights, said in a statement.
The certification asks state and school leaders to acknowledge that their federal aid is conditioned on compliance with antidiscrimination laws. It says 鈥渢he use of certain DEI practices can violate federal law鈥 and result in a termination of funding.
It follows a declaring that any school policy that treats students or staff differently because of their race is illegal. It aimed to fight what the memo described as widespread discrimination in education, often against white and Asian American students.
A nation Trump said 鈥榥obody has ever heard of鈥 now faces 50% tariffs on exports to US
Lesotho is one of the smallest countries in Africa with a population of 2.2 million people, yet exports $237.3 million worth of goods to the U.S. 鈥 mostly textiles and diamonds 鈥 sectors which create most of its jobs.
鈥淭here is no country immune from those tariff hikes he made. That means countries will have to renegotiate their positions with the USA and see how they will manage to trade in,鈥 said government spokesman Thabo Sekonyela.
The U.S. is Lesotho鈥檚 second biggest trade partner after South Africa. This a second blow for Lesotho after Trump withdrew foreign aid.
Top US general in Europe says giving up US role as NATO Supreme Commander could affect nukes
Gen. Christopher Cavoli, commander of United States European Command and Supreme Allied Commander Europe, told lawmakers Thursday that a potential Trump administration plan to relinquish U.S. control over the role of Supreme Allied Commander Europe as part of its downsizing efforts could create issues for control over U.S. nuclear weapons based there as well as the tens of thousands of troops deployed there.
The position oversees all NATO decisions in Europe, where the U.S. is often the largest troop contributor to NATO operations.
鈥淚 think that would bring some challenges in terms of nuclear command and control. It would put us in a position where, in an Article Five situation, we could have for the first time since the First World War large numbers of American troops under non-U.S. command. So I think those are things that would have to be considered carefully,鈥 Cavoli told members of the Senate Armed Services Committee.
Democrats warn that Trump鈥檚 tariffs could result in a recession
Democrats are blaming Trump for plunging financial markets and calling on him to rescind his tariffs.
Sen. Chuck Schumer, the Senate Democratic leader, said the tariffs amount to the biggest tax hike on families since World War II.
Schumer spoke on the Senate floor as financial markets tanked, saying 鈥淒onald Trump has singlehandedly created a financial forest fire.鈥
鈥淧resident Trump should reverse course on his disastrous tariffs immediately,鈥 Schumer said. 鈥淥r else, he risks plunging America into recession.鈥
US prices for some furniture could nearly double, trade association says
The Home Furnishings Association, which represents more than 13,000 U.S. furniture stores, predicted that the tariffs will increase prices between 10% and 46%. Vietnam and China are the top furniture exporter to the U.S.
The association said manufacturers in Asia are offsetting some of the costs by discounting their products and lowering ocean freight rates. But it still expects U.S. furniture prices to rise. Even domestically made furniture often relies on imported components, the association said.
鈥淲hile many in the industry support the long-term goal of reshoring manufacturing, the reality is that it will take at least a decade to scale domestic production,鈥 Home Furnishings Association CEO Shannon Williams said in a statement. 鈥淧ermitting, training a skilled workforce and managing the higher costs of U.S. manufacturing are significant hurdles. Applying steep tariffs during this transition period only hurts the American consumer.鈥
Senate Armed Services chair chides 鈥榤id-level鈥 Pentagon leaders for plan to pull US troops from Europe
鈥淭here are some who believe now is the time to reduce drastically our military footprint in Europe,鈥 Republican Sen. Roger Wicker said at Thursday鈥檚 hearing with U.S. military commanders for Europe and Africa.
鈥淚鈥檓 troubled at those deeply misguided and dangerous views held by some mid-level bureaucrats within the Defense Department. They鈥檝e been working to pursue a U.S. retreat from Europe and they鈥檝e often been doing do without coordinating with the Secretary of Defense,鈥 Wicker said.
It was not immediately clear what 鈥渕id-level bureaucrats鈥 Wicker was talking about. U.S. troops in Europe increased by about 20,000 to a total of roughly 100,000 in response to Russia鈥檚 invasion of Ukraine, to assist with training and logistics and to reassure NATO allies that the U.S. would defend them.
El Salvador鈥檚 president heads to Washington
Nayib Bukele is scheduled to visit with Trump on April 14.
Bukele posted on social media a signed letter from Trump inviting him to a meeting and thanking him for help fighting illegal immigration.
The Trump administration is paying Bukele鈥檚 government to house deportees, particularly people it accuses of being Venezuelan gang members, at one of his notorious prisons.
A White House official confirmed the date of the visit. The official was not authorized to speak publicly.
AP-NORC poll: Trump鈥檚 government changes aren鈥檛 a clear political winner or loser -- yet
President dramatic changes to the federal government haven鈥檛 emerged as an obvious political winner or loser, according to a new poll that indicates some Americans may be giving him the benefit of the doubt for now on his Department of Government Efficiency.
poll found that about 4 in 10 U.S. adults 鈥渟omewhat鈥 or 鈥渟trongly鈥 approve of Trump鈥檚 handling of Social Security and a similar share approve of the way he鈥檚 managing the federal government.
Those numbers are almost identical to Trump鈥檚 overall presidential approval, suggesting that his Republican administration鈥檚 moves to , , and haven鈥檛 yet created a significant independent backlash 鈥 or spurred independent support.
Views of Trump and his adviser are still largely intertwined, despite Democrats鈥 recent focus on Musk. The two men when the conservative candidate they had endorsed for the Wisconsin Supreme Court . Musk and the groups he backed spent more than $21 million in the race, the first major test of .
Marco Rubio seeks to reassure wary NATO allies of US commitment
The U.S. secretary of state and U.S. ambassador to NATO Matt Whitaker are in Brussels for a meeting of alliance foreign ministers.
Many hope Rubio will clarify Trump鈥檚 intentions amid persistent signals from Washington that NATO as it has existed for 75 years may no longer be relevant.
鈥淭he United States is as active in NATO as it has ever been,鈥 Rubio told reporters as he greeted NATO chief Mark Rutte. 鈥淎nd some of this hysteria and hyperbole that I see in the global media and some domestic media in the United States about NATO is unwarranted.鈥
鈥淧resident Trump鈥檚 made clear he supports NATO,鈥 Rubio said. 鈥淲e鈥檙e going to remain in NATO.鈥
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JD Vance urges Americans to be patien
t as markets slide
The vice president appeared on Fox & Friends, saying it will take some time for Trump鈥檚 tariffs, spending cuts and support for U.S. industries to help everyday Americans. 鈥淲e are not going to fix things overnight,鈥 Vance said.
鈥淔rankly, a lot of people have gotten rich from American jobs moving overseas,鈥 Vance said. 鈥淏ut American workers have not gotten rich. And frankly, American companies have not gotten wealthy from the increasing growth of foreign competitors manufacturing overseas.鈥
鈥淲e know people are struggling. We鈥檙e fighting as quickly as we can to fix what was left to us, but it鈥檚 not going to happen immediately. But we really do believe that if we pursue the right deregulation, we pursue those energy cost reducing policies 鈥 Yes, people are going to see it in their pocketbook. They鈥檙e also going to benefit from the fact that foreign countries can鈥檛 take advantage of us anymore.鈥
Americans eat fresh fruit year-round thanks to imports from the Global South
The sweeping tariffs declared by Trump could increase prices for Americans who depend on citrus from 1400 producers across southern Africa, according to Boitshoko Ntshabele, chief executive of the Citrus Growers Association in Johannesburg.
鈥淪outh Africa does not compete with the citrus producers of the US,鈥 Ntshabele said. 鈥淚n fact, quite the opposite 鈥 we sustain customers鈥 interest when their local citrus is out of season, benefitting US citrus growers in the end.鈥
South African President Cyril Ramaphosa said Trump鈥檚 30% tariffs on U.S. imports of South African products shows the urgent need for a new bilateral trade deal.
Canned peaches in the US more likely came from Greece. Trump鈥檚 tariffs could reverse that
Greece鈥檚 exports of canned peaches to the United States in 2020 were worth 32 million euros ($35.3 million) and soared to 95 million euros ($105 million) in 2024. The new 20% tariff, on top of existing duties, could reverse those gains, according to Christos Giannakakis, vice president of Venus, one Greece鈥檚 largest peach canning cooperatives.
鈥淭his creates a huge problem,鈥 Giannakakis told the Associated Press. 鈥淚t means reduced exports, lower revenue and shrinking production.鈥
Trump said his decision to impose sweeping import tariffs will boost American industries.
Norway鈥檚 foreign minister says tariffs hurt NATO allies
Norway鈥檚 Foreign Minister Espen Barth Eide said the new U.S. tariffs may violate NATO鈥檚 Article 2, which stresses the importance of economic cooperation among allies to avoid conflict.
鈥淚f you want a strong NATO, you should ensure that there is as much economic growth as possible in the NATO countries. That was the insight of those who established NATO, that economic cooperation would be good for the entire alliance,鈥 Eide said during a visit to Brussels for a NATO meeting, according to the NRK broadcaster.
Eide told NRK that he will raise the tariff war with U.S. Secretary of State Marco Rubio during the meeting.
Polish prime minister says tariffs may shave off 0.4% of GDP
Polish Prime Minister Donald Tusk said the new U.S. tariffs many reduce Poland鈥檚 GDP by 0.4%.
He said it was 鈥渁 severe and unpleasant blow, because it comes from the closest ally, but we will survive it.鈥 The Polish-U.S. friendship, he added, 鈥渕ust also survive this test.鈥
Spanish PM announces measures to mitigate US tariffs
Spanish Prime Minister Pedro S谩nchez said Thursday that his government will implement a $15.6 billion (14.1 billion euro) spending package to mitigate the effects of U.S. tariffs on the eurozone鈥檚 fourth-largest economy.
The Spanish leader called the tariffs 鈥19th-century protectionism,鈥 against which the European Union and Spain had to act proactively and diversify their economic ties with the rest of the world.
S谩nchez also called for a negotiated solution with the U.S. 鈥淲e鈥檙e once again asking President Trump to reconsider, to sit down at the negotiating table with the European Union and also with the rest of the world.鈥
Australia puzzled by tariffs on remote islands
The local government leader of Christmas Island, one of several Australian external island territories that like Australia have been assigned a 10% U.S. tariff, said his Indian Ocean atoll exported nothing to the United States.
The Australian outpost of fewer than 2,000 people 360 kilometers (225 miles) south of the Indonesian capital Jakarta has used U.S. heavy machinery to mine phosphate for decades, Christmas Island Shire President Gordon Thomson said.
The uninhabited Heard and McDonald Islands in the remote Antarctic are another Australian territory included in the 10% tariff. The mostly barren islands include two active volcanoes and can only be reached by sea.
Australian Prime Minister Anthony Albanese said Australia imposes no tariffs on U.S. imports. The U.S. and Australia have a free trade agreement.
Hong Kong urges US to withdraw tariffs
Hong Kong strongly opposed the extra tariffs announced by Trump and urged the U.S. to withdraw them. It said Hong Kong, as a free port, always practices free trade and doesn鈥檛 impose tariffs on imported goods, including those from the U.S.
It said the U.S. had a trade surplus of $271.5 billion with the semiautonomous Chinese territory over the past decade, the highest among its global trading partners.
鈥淭he U.S. imposing tariffs on Hong Kong products as so-called reciprocal tariffs defies logic,鈥 Hong Kong鈥檚 government said in a statement, adding that it would take measures including filing complaints with the WTO.
Hong Kong, a former British colony returned to China in 1997, has a different economic and political system from mainland China that allows it to set its own policies most of the time.
India wants to expedite trade talks with US
India鈥檚 Trade Ministry is assessing the latest U.S. tariffs announced by President Donald Trump. It said the Indian government strives to expedite the negotiations for a trade agreement with the U.S. to potentially garner some concessions and offset the impact of higher import taxes.
The agreement, first tranche of which is expected to be in place by the fall, would focus on enabling both nations to boost trade, investments and technology transfers in addition to deepening supply chain integrations, it said.
鈥淲e remain in touch with the Trump administration and expect to take them forward in the coming days,鈥 it said.
The U.S was New Delhi鈥檚 biggest trading partner in 2024 with trade estimated at $129 billion. The countries have now set an ambitious target of more than doubling their bilateral trade to $500 billion by 2030.
Stock market in Vietnam plunges and people rush to buy gold
Vietnam鈥檚 stock market plunged Thursday while gold prices reached a record high after U.S. President Donald Trump slapped 46% tariffs on Vietnam鈥檚 exports. Meanwhile people lined up to buy gold in Hanoi despite the high prices.
鈥淚nvesting in gold would be at lower risk because the economy is very uncertain at the moment,鈥 said Nguyen Trung, a buyer.
Vietnam has long realized that it was too reliant on the U.S. and has been diversifying its trade relations by signing free trade agreements with over a dozen countries, said Dan Martin, international business adviser of Dezan Shira & Associates.
鈥淭he lesson is clear now, the reliance that Vietnam had as a U.S. export market, it鈥檚 not safe,鈥 he said.
Especially hard-hit will be the garments and sportswear section, including household names like Adidas and Nike. Nike made of its shoes and about a third of its clothes in Vietnam last year, while factories in Vietnam made 39% of Adidas鈥檚 shoes and 18% of its clothes.
US tariffs on goods from Vietnam among the highest on any country
Vietnam鈥檚 Prime Minister Pham Minh Chinh said that the country still hoped to reach its economic growth target of at least 8% despite the Trump administration imposing 46% tariffs on its exports.
Chinh chaired a Cabinet meeting Thursday to assess the impact of the tariffs, among the highest imposed on any country, and said that Vietnam hoped that U.S. policy would be 鈥渃onsistent with the good relations between the two countries.鈥 He added that Vietnam was still overcoming the consequences of the long war between the two nations.
The tariffs will deal a severe blow to Vietnam since the U.S. is its largest export market. Exports to the U.S., valued at $142 billion, in 2021 made up a third of the country鈥檚 GDP.
Ukrainian minister says her country can get better tariff conditions from US
Ukraine is working to get better tariff conditions from the United States, Ukrainian Economy Minister Yuliia Svyrydenko wrote on her X account.
Svyrydenko says Ukrainian tariffs on U.S. goods are 鈥渜uite low鈥 and that Ukraine imported more goods from the U.S. in 2024 than exported to the country.
She said the 10% tariff Trump imposed on Ukrainian goods will mainly impact small producers. 鈥淯kraine has something to offer the United States as a reliable ally and partner. Both our countries will benefit from fair tariffs,鈥 she wrote.
Japan PM regrets US tariffs and says ready to negotiate with Trump
Japanese Prime Minister Shigeru Ishiba said it was 鈥渆xtremely regrettable鈥 that the United States slapped the 25% auto tariff on Japan despite its huge contribution to the U.S. economy.
Japanese companies have been the world鈥檚 biggest investors in the U.S. since 2019, especially automakers, creating jobs for millions of Americans, Ishiba said.
Ishiba said Japan will continue to strongly request the United States to reconsider its tariffs measures and that he will directly negotiate with Trump, whenever it is considered appropriate. 鈥淚 will do so at a most appropriate time and method without hesitation.鈥
Germany鈥檚 Scholz says tariffs are an 鈥榓ttack鈥 on global trade
German Chancellor Olaf Scholz says the tariffs are an 鈥渁ttack鈥 on a trading system that brought global prosperity and that America itself helped design.
Scholz said Thursday 鈥渢he whole global economy will suffer from these decisions that haven鈥檛 been thought through.鈥 He added that 鈥渢he U.S. administration is setting off on a road at the end of which there will only be losers.鈥
Scholz said in Berlin that 鈥渢his is an attack on a trading order that has created prosperity across the globe 鈥 a trading order that is also to a very significant extent the result of American efforts.鈥
Fiji criticizes tariffs as 'disproportionate鈥 and 鈥榰nfair鈥
Among the small island nations of the South Pacific Ocean, a few were singled out for higher tariff rates than the 10% baseline. Fiji鈥檚 Deputy Prime Minister Biman Prasad on Thursday criticized as 鈥渄isproportionate鈥 and 鈥渦nfair鈥 the 32% tariffs announced on Fiji鈥檚 exports to the U.S.
The U.S. is a major trading partner for the nation of 924,000 people, accounting for 10% of total imports and exports, Prasad said Thursday on social media. Fiji鈥檚 biggest export to the U.S. is bottled water, with its most famous brand 鈥 Fiji Water 鈥 owned by a U.S. conglomerate.
The U.S. administration justified Fiji鈥檚 higher tariffs with a claim that the Pacific nation imposes 63% tariffs on American goods arriving on its shores. Prasad rejected that figure, telling reporters that Fiji does not impose such tariff rates on any country.
鈥楾here are no winners in trade wars,鈥 China鈥檚 Foreign Ministry says
A Chinese Foreign Ministry spokesperson says 鈥渢here are no winners in trade wars and tariff wars, and protectionism is not a way out. What the U.S. should do is to correct its wrong practices and resolve trade disputes with all countries, including China, through consultations based on equality, mutual respect and mutual benefit.鈥
Guo Jiakun added that the tariffs violate WTO rules, 鈥渉arm the common interests of people of all countries, and do not help solve the problems of the U.S. itself. It is clear to everyone that more and more countries are opposing the U.S.鈥檚 unilateral bullying actions, such as imposing tariffs.鈥
Israeli finance minister says his office is 鈥榓nalyzing鈥 tariff implications
Israeli Finance Minister Bezalel Smotrich says his office is studying Trump鈥檚 tariff order and 鈥渁nalyzing its implications for the economy,鈥 in the country鈥檚 first reaction to Trump鈥檚 announcement of a 17% tariff on imports from Israel.
On Wednesday, ahead of Trump鈥檚 announcement, Israel cancelled all remaining tariffs on imports from the U.S. The Prime Minister鈥檚 Office said in a statement the move would go into effect after final approval by the economy minister and the parliament鈥檚 finance committee.
Smotrich said in a statement on X he was talking with industry leaders about Trump鈥檚 new order and would meet Thursday with the Finance Ministry leadership to decide on 鈥渃ourses of action鈥 in response to it.
Spain's economy minister says negotiations with US essential
Spain鈥檚 Economy Minister Carlos Cuerpo said a negotiated solution with the United States was essential for the eurozone鈥檚 fourth-largest economy, but that Spain was prepared to take steps to protect its companies and industries.
鈥淲e have a lot at stake. We have to protect the very important trade and economic relationship we have between the planet鈥檚 two biggest partners,鈥 Cuerpo said in an interview Thursday with the RNE radio station after the U.S. announced 20% tariffs against the European Union.
German economy minister says this day will become US Inflation Day
鈥淭his day is not going to become Liberation Day for consumers in the U.S., but Inflation Day,鈥 said Germany鈥檚 vice chancellor and economy minister, Robert Habeck. 鈥淭he U.S. mania for tariffs could set off a spiral that could also pull countries into recession and cause massive damage worldwide.鈥
鈥淲e have always pushed for negotiations, not confrontation. That remains right,鈥 Habeck said. 鈥淪o it is good that the European Commission still aims for a negotiated solution with the U.S. There is still some time for that. But if the U.S. doesn鈥檛 want a negotiated solution, the EU will give a balanced, clear and determined answer. We have prepared for this.鈥
Germany's main industry federation calls for a coordinated reaction to tariffs
Germany鈥檚 main industry lobby group, the Federation of German Industries, said that 鈥渢he EU must now strengthen its alliances with other major trading partners and should coordinate its reaction with them. A coordinated reaction is also necessary to counter diversionary effects in international trade.鈥
The group, known by its German acronym BDI, said that the tariffs are 鈥渁n unprecedented attack on the international trade system, free trade and global supply chains. The reasoning for this protectionist escalation is incomprehensible.鈥
The United States was Germany鈥檚 biggest single trading partner last year for the first time since 2015, displacing China.
UK's Starmer vows to act with 鈥榗ool and calm heads鈥 to Trump鈥檚 tariffs
Prime Minister Keir Starmer said the U.K. government would react with 鈥渃ool and calm heads鈥 to Trump鈥檚 announcement of a 10% tariff on imports from Britain.
Starmer told business leaders gathered in 10 Downing St. that 鈥渃learly there will be an economic impact,鈥 but that he still hoped to get tariffs lifted through a trade deal with Washington.
鈥淣egotiations on an economic prosperity deal 鈥 one that strengthens our existing trading relationship 鈥 they continue and we will fight for the best deal for Britain,鈥 Starmer said.
鈥淣obody wins in a trade war. That is not in our national interest,鈥 he added.
Honda CEO says company will take some time to determine how to respond to tariffs
Honda Chief Executive Toshihiro Mibe says the Japanese automaker will take some time to look at the market situation and other factors to determine the right way to respond to Trump鈥檚 tariffs.
鈥淪udden changes like this are tough as it鈥檚 hard to respond speedily,鈥 he told reporters on Thursday.
Taiwan calls US tariffs 鈥榮trongly unreasonable鈥
Taiwan responded to the imposition of a 32% tariff on its high-tech economy by calling it 鈥渟trongly unreasonable and highly regrettable,鈥 adding it would 鈥渓odge solemn representations with the United States.鈥
鈥淭he proposed tax rate does not reflect the actual economic and trade situation between Taiwan and the United States (and) is unfair to Taiwan,鈥 Cabinet spokesperson Lee Hui-chih said in an official news release.
Lee said the tariff calculation method was unscientific and unclear and 鈥渃annot reflect the high degree of complementarity in the trade structure between Taiwan and the U.S. and the actual trade relationship.鈥
Taiwan鈥檚 exports to the U.S. and corresponding trade surplus have risen significantly in recent years, mainly reflecting the surge in demand from U.S. customers for semiconductors and related products, especially AI products, Lee said.
British officials say they will push to secure a free trade deal with US
The British government says it will push to secure a free trade deal with the United States rather than retaliate after Trump slapped a 10% tariff on U.K. goods.
Labelling the announcement a 鈥渄isappointment,鈥 Business Secretary Jonathan Reynolds said 鈥淚鈥檓 pleased the U.K. is in a better position than other countries, but I鈥檓 not satisfied.鈥
Reynolds told Sky News that the message he was hearing from businesses was 鈥渞emain at the table, don鈥檛 overreact.鈥
Britain argues that it has a broadly balanced trade relationship with the U.S., and has been negotiating with Washington on a trade deal in hope of escaping import taxes.
Japan鈥檚 prime minister says tariffs will have a 鈥榞reat impact鈥 on U.S.-Japan relations
Japanese Prime Minister Shigeru Ishiba says the tariffs are a matter of great concern and stressed that Japan鈥檚 contributions to the American economy are significant both in terms of investment and jobs.
He said he repeatedly made his case with the Trump administration not to move ahead with the tariffs.
鈥淭hey will have a great impact not only on U.S.-Japanese economic relations but also on the global economy and various trade relations overall,鈥 Ishiba told reporters Thursday.
鈥淲e as the government will work as one to decisively protect people鈥檚 lives, jobs and industries,鈥 he added.
Thailand says it is ready to negotiate with US over trade balance
The Thai prime minister says her country is ready to negotiate with the U.S. to find a fair trade balance for both sides, after Trump announced 36% tariffs on Thailand.
Paetongtarn Shinawatra said Thursday that Thailand is committed to working with the U.S. to achieve sustainable economic growth.
She added that Thai exporters should also look for additional markets for their products to reduce their risk of relying on one main market.
Indian analysts see opportunity in supply chain realignments
Indian exporters and analysts say Trump鈥檚 new tariffs are a mixed bag for the country.
Trump announced a reciprocal tariff of 26% for India, as compared to 34% for China, 46% for Vietnam, 37% for Bangladesh and 36% for Thailand.
Observers said Thursday the move will likely impact Indian industry and pressure jobs, but that there is room for new business to come in since India is in a lower band than its Asian peers.
鈥淭hese tariffs do present challenges, but India鈥檚 position remains comparatively favorable,鈥 said S.C Ralhan, president of the Federation of Indian Exports Organisations.
Ajay Srivastava, a former Indian trade official and founder of the New Delhi-based think tank Global Trade Research Initiative, said the protectionist tariff regime could be a catalyst for India to gain from global supply chain realignments.
South and Southeast Asia are targeted with some of the highest tariff rates
Vietnam, Sri Lanka and other countries across South and Southeast Asia are the targets of some of the highest tariff rates.
Trump imposed 46% 鈥渞eciprocal鈥 duties on goods from Vietnam, 49% on products from Cambodia, 37% on Bangladesh and 44% on Sri Lanka.
The duties will affect domestic exporters to the U.S. but also Chinese, Japanese and South Korean companies that have over the past few years shifted production to Southeast Asian nations to escape the trade frictions during Trump鈥檚 first term in office.
Automaker Stellantis will shut down its assembly plant in Windsor, Canada, for 2 weeks
Automaker Stellantis will shut down its assembly plant in Windsor, Canada, for two weeks from April 7, the local union said late Wednesday.
The president of Unifor Local 444, James Stewart, said more scheduling changes were expected in coming weeks.
鈥淭he company said there are multiple factors at play, with the primary driver behind the final decision being this afternoon鈥檚 announcement from U.S. President Donald Trump of the U.S. tariffs,鈥 Stewart said. 鈥淭his has and continues to create uncertainty across the entire auto industry. This is not just affecting our plant鈥攊t鈥檚 impacting facilities in the U.S. and Mexico as well.鈥
EU leader says tariffs are a major blow to the world economy
European Commission President Ursula von der Leyen says the tariffs are a 鈥渕ajor blow to the world economy.鈥
鈥淭he consequences will be dire for millions of people around the globe,鈥 von der Leyen said. Groceries, transport and medicines will cost more, she said, 鈥淎nd this is hurting, in particular, the most vulnerable citizens.鈥
Von der Leyen acknowledged that the world trading system has 鈥渟erious deficiencies鈥 and said the EU was ready to negotiate with the U.S.
Japan鈥檚 chief cabinet secretary calls tariffs 鈥榚xtremely regrettable鈥
Japan鈥檚 chief cabinet secretary has called the tariffs 鈥渆xtremely regrettable,鈥 saying officials thought the country deserved an exemption, after Trump slapped 24% additional tariffs on Japan.
Yoshimasa Hayashi on Thursday also questioned whether the tariffs are compatible with Japan-U.S. bilateral trade agreements and said the move would likely impact their economic ties, as well as the global economy and multilateral trade system.
He said Japanese officials are continuing to negotiate with Washington seeking an exemption. Asked if Japan would consider retaliatory tariffs or file complaints with the World Trade Organization, Hayashi declined to comment.
Asian markets tumble following Trump鈥檚 tariff announcement
Tokyo鈥檚 Nikkei 225 index dipped more than 3.4%, while the Kospi in South Korea dropped 1.8%. In Australia, the S&P/ASX 200 also sank 1.8%.
U.S. stocks whipped through another dizzying day before Trump鈥檚 unveiled the tariffs Wednesday. The S&P 500 rose 0.7%, and the Dow gained 0.6%. The Nasdaq composite surged 0.9%.
Tesla swung from a sharp loss in the morning to a gain later in the day to help pull the market higher. Treasury yields also veered from lower to higher following a better-than-expected report on the job market.
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House majority whip praises Trump鈥檚 actions, including tariffs, during town hall
House Majority Whip Tom Emmer fielded mostly friendly questions during an hourlong telephone town hall with constituents in Minnesota.
House Speaker Mike Johnson has encouraged Republican lawmakers to avoid holding in-person town halls where they鈥檇 run the risk of hostile questioning and protesters.
Emmer extensively praised the actions that Trump has been taking in his first months back in office, including the tariffs he announced earlier Wednesday.
鈥淗ow about we give this guy some grace while he tried to actually do what he鈥檚 been campaigning on for years and his mission to protect American companies and workers?鈥 Emmer said. 鈥淭here鈥檚 still going to be some choppy waters, but when we come out the other side, it鈥檚 going to be much better than it was beforehand, and certainly much better than it was the last four years.鈥
South Korea prime minister calls for emergency measures to support industries affected by tariffs
South Korea鈥檚 acting leader called for swift emergency measures to support the auto industry and other businesses potentially affected by the Trump administration鈥檚 new tariffs, pledging full government efforts to address what he described as a looming 鈥済lobal tariff war.鈥
During an emergency government meeting, Prime Minister Han Duck-soo also instructed officials to work with business groups to analyze the impact of the U.S. tariff increases and actively engage in negotiations with Washington to 鈥渕inimize damage鈥 to South Korea鈥檚 economy, the trade ministry said.
Han, serving as South Korea鈥檚 acting leader while President Yoon Suk Yeol remains impeached over his December imposition of martial law, convened the meeting with trade and foreign policy officials after Trump announced a 25% tariff on South Korea.
The Associated Press
