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Factbox-Trump tariffs draw global promises of counter measures
Published by Global Banking & Finance Review®
Posted on April 3, 2025
3 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 3, 2025
3 min readLast updated: January 24, 2026
Countries worldwide are planning responses to Trump's new tariffs, with the EU, China, and others preparing countermeasures.
(Reuters) -Governments around the world pledged counter measures on the U.S. after President Donald Trump unveiled on Wednesday a new baseline 10% tariff on goods from all countries plus reciprocal tariffs on those that his administration says have high barriers to U.S. imports.
Here is what some governments said about what they would - and would not - do in response.
EUROPEAN UNION
European Commission President Ursula von der Leyen said the EU is finalising a package of measures in response to U.S. tariffs on steel and is "now preparing for further countermeasures to protect our interests and our businesses if negotiations fail". Trump targeted the EU with a 20% reciprocal tariff.
CHINA
China's commerce ministry said Beijing "firmly opposes" the reciprocal tariffs and "will take countermeasures to safeguard its own rights and interests," after Trump imposed a 34% reciprocal tariff on the country.
JAPAN
Japanese Trade Minister Yoji Muto called the reciprocal tariffs "extremely regrettable" and said Tokyo would urge the U.S. to exempt Japan from tariff measures. Tokyo faces a 24% reciprocal tariff.
SOUTH KOREA
Acting President Han Duck-soo ordered emergency support measures for affected businesses, including automobiles, the industry ministry said, after Trump's tariff announcement included a 25% rate on South Korea.
CANADA
Prime Minister Mark Carney said Canada was "going to fight these tariffs with countermeasures" and would "act with purpose and with force."
Goods from Canada and Mexico are not currently subject to reciprocal tariffs because Trump's prior 25% fentanyl-related duties remain in place on their goods, along with 10% for Canadian energy and potash. A tariff exemption for goods compliant with the U.S.-Mexico-Canada Agreement on trade will continue indefinitely.
MEXICO
President Claudia Sheinbaum said on Wednesday that Mexico would not pursue a "tit-for-tat on tariffs" but would rather announce a "comprehensive program" on Thursday.
UNITED KINGDOM
Prime minister Keir Starmer said Britain would continue to work on a trade deal with the U.S. and that a trade war was "not in our national interest."
He added, however, that he would only strike a deal if it was the right one and that "nothing is off the table" for Britain's response.
Britain faces the lowest levy rate on imports of 10%.
AUSTRALIA
Prime Minister Anthony Albanese said Australia would seek to negotiate with the U.S. to remove the tariffs without resorting to a dispute resolution mechanism in the two countries' Free Trade Agreement.
He said his government would not impose reciprocal tariffs as this would increase prices for Australian households.
"We will not join a race to the bottom that leads to higher prices and slower growth," Albanese said.
BRAZIL
The government of Latin America's largest economy Brazil, which Trump slapped with a 10% tariff, said it was "evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organization."
Earlier in the day, Brazil's Congress approved a bill that establishes a legal framework for Brazil to respond to potential unilateral trade measures targeting its goods and services, including countermeasures such as tariffs.
(Reporting by Reuters Newsroom; Writing by Brendan O'Boyle; Editing by Sonali Paul and Toby Chopra)
The main topic is the global response to Trump's newly announced tariffs on international goods.
The EU is finalizing a package of countermeasures to protect its interests if negotiations with the US fail.
China firmly opposes the tariffs and plans to take countermeasures to safeguard its interests.
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