Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Factbox-How top US trading partners have reacted to Trump tariffs
    Headlines

    Factbox-How top US trading partners have reacted to Trump tariffs

    Factbox-How top US trading partners have reacted to Trump tariffs

    Published by Global Banking and Finance Review

    Posted on April 8, 2025

    Featured image for article about Headlines

    (Reuters) - Donald Trump's sweeping new tariffs on U.S. imports have targeted countries across the world in the most serious blow to the global trading system in decades.

    They have prompted both retaliatory measures and efforts to negotiate a de-escalation. Here is how the United States' top 15 trading partners have reacted so far:

    EUROPEAN UNION - The 27-country bloc is rolling out its first set of countermeasures in April against the U.S. tariffs on steel and aluminium. It watered down initial proposals, removing for example U.S. bourbon from that list, and has also offered a "zero-for-zero" tariff deal to Washington.

    CHINA - Beijing struck back with matching 34% blanket tariffs on U.S. imports, export curbs on some rare earths, and by adding another 11 U.S. bodies to a list of "unreliable entities", which allows Beijing to sanction them. It vows to "fight to the end" on tariffs.

    MEXICO - Mexico was left off Trump's global tariffs list but still has plenty of headwinds to navigate: U.S. levies up to 25% are still imposed on automobiles, steel, and aluminium, as well as on goods that do not comply with the USMCA trade pact among the North American countries.

    CANADA - Canada imposed 25% tariffs on C$30 billion ($21 billion) in goods imported annually from the U.S. on March 6 in response to Trump's initial duties, plus 25% tariffs on a further C$29.8 billion worth of products imported from the U.S. in response to U.S. steel and aluminium tariffs. New auto tariffs announced on April 3 apply to car imports worth C$35.6 billion.

    GERMANY - Berlin argues the EU's market of 450 million consumers gives it leverage to negotiate with Trump and avert a trade war. Government officials have also called on the EU to nurture trade deals with other countries such as Mexico, Canada and India.

    JAPAN - Tokyo plans no slap counter-measures and instead will send a team to negotiate concessions from the United States. Prime Minister Shigeru Ishiba appointed his economy minister, Ryosei Akazawa, as negotiator, who will work with U.S. Treasury Secretary Scott Bessent in bilateral trade talks. Ishiba said he was considering a new U.S. visit to meet Trump.

    SOUTH KOREA - There has been no retaliation from Seoul thus far but acting President Han Duck-soo ordered emergency support measures for affected businesses, including automobiles, and dispatched a senior official to Washington to try to negotiate.

    TAIWAN - Taiwan President Lai Ching-te has proposed a zero tariff regime with the United States and said Taiwan will not levy reciprocal tariffs. Instead it will seek to boost imports from the United States and remove non-tariff barriers. 

    VIETNAM - Vietnam's top leader To Lam offered to remove duties on U.S. goods in a call with Trump the day after the tariff announcement. It has made a slew of concessions, including pledging to import more U.S. goods and granting a licence to Elon Musk's Starlink under favourable conditions. The Trump Organization is also investing in golf facilities in Vietnam.

    BRITAIN - Prime Minister Keir Starmer's government is in talks with the U.S. over a deal that could reduce its 10% tariffs. It is consulting with businesses on the need for retaliatory tariffs and measures to prevent dumping by other countries. It has said it wants to deepen trade ties with key partners.

    INDIA - India has not planned retaliatory measures against the U.S. and aims to negotiate a bilateral trade deal with the U.S. It has also signalled its willingness to bring down tariffs on more than half of U.S. imports into the country. Alongside, it is also talking to Britain and the EU on trade tie-ups.

    NETHERLANDS - The Netherlands, one of the world's largest agricultural exporters and home to Europe's largest sea port, has stressed the need for a calm and proportionate response to the U.S. tariffs, warning against escalation.

    IRELAND - With a local economy highly dependent on a cluster of major U.S. pharmaceutical and technology firms, Dublin has called for a "calm, measured" response and has warned Brussels against the use of its powerful Anti-Coercion Instrument law.

    ITALY - Rome has warned against retaliatory tariffs. To offset the economic hit from the U.S. moves, it has urged the EU to allow member states to raise spending without breaching the bloc's fiscal rules.

    FRANCE - President Emmanuel Macron has called for a firm response from the European Union, possibly including U.S. digital services. He also urged French companies to put their U.S. investment plans on hold until the situation is clarified.

    BRAZIL - Brazil's Congress reacted to Trump's tariffs by passing a law enabling trade retaliation. President Luiz Inacio Lula da Silva said any countermeasures would be based on that law. Vice President Geraldo Alckmin said the country prefers dialogue and will not trigger provisions in the new law for now.

    (Reporting by Reuters bureaus around the world; Compiled by Mark John; Editing by Susan Fenton)

    Related Posts
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    China says it is granting new, streamlined rare earth export licences
    China says it is granting new, streamlined rare earth export licences
    Romania to raise minimum wage by 6.8% from July
    Romania to raise minimum wage by 6.8% from July
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    EU must reform or risk irrelevance, Blair and Dimon say
    EU must reform or risk irrelevance, Blair and Dimon say
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Europe's auto industry future may be electric even after EU climbdown
    Europe's auto industry future may be electric even after EU climbdown
    Factbox-Can Ukraine survive without the EU's 'reparation loan'?
    Factbox-Can Ukraine survive without the EU's 'reparation loan'?
    EU leaders face crunch decision on using frozen Russian assets for Ukraine
    EU leaders face crunch decision on using frozen Russian assets for Ukraine
    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback
    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback
    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations
    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostAny attempt to break up Bosnia is unacceptable, EU's Kallas warns
    Next Headlines PostCroatia to increase defence spending to 3% of GDP by 2030

    More from Headlines

    Explore more articles in the Headlines category

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    UN, aid groups warn Gaza operations at risk from Israel impediments

    UN, aid groups warn Gaza operations at risk from Israel impediments

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    US, Russia to hold talks in Miami this weekend, Politico reports

    US, Russia to hold talks in Miami this weekend, Politico reports

    EU reaches initial agreement on tighter EU-Mercosur safeguards

    EU reaches initial agreement on tighter EU-Mercosur safeguards

    Britain to overhaul benchmark rules to cut industry burden

    Britain to overhaul benchmark rules to cut industry burden

    Novartis, Roche near US drug price deal, Bloomberg News reports

    Novartis, Roche near US drug price deal, Bloomberg News reports

    View All Headlines Posts