📢 Worldwide Reactions as U.S. Slaps New Tariffs
Countries around the globe are raising their voices against the U.S.'s latest move to impose hefty tariffs on imports from Mexico, Canada, and China. 🌍✨
South Korea Vows to Respond
In the Republic of Korea, Trade Minister Cheong In-kyo announced on Monday that the government and private sector would unite to \"efficiently and effectively respond\" to the U.S.'s protectionist policies. \"Under the 'America First' policy, swift executive orders and active tariffs from the new U.S. administration could impact our exports and companies,\" Cheong said, as reported by the Korea Times. 🇰🇷
The Korean trade community is buzzing with concerns over President Trump's tariffs on Canada, Mexico, and China. 💭
European Union Criticizes Tariff Decision
The European Commission didn't hold back, criticizing the U.S.'s tariff imposition on the three countries. \"Tariffs create unnecessary economic disruption and drive inflation. They are hurtful to all sides,\" an EU spokesperson stated. 🇪🇺
German Vice Chancellor and Minister of Economics Robert Habeck warned that the U.S.'s move is \"a very bad alternative,\" signaling that Europe is prepared to retaliate. 🇩🇪
Mexico Plans Countermeasures
Mexican President Claudia Sheinbaum isn't staying silent either. On Saturday, she instructed the Secretariat of Economy to implement tariff and non-tariff measures to defend Mexico's interests. 🇲🇽
\"Problems aren't resolved by imposing tariffs, but by talking and dialoguing,\" Sheinbaum emphasized on social media. She rejected any allegations from the White House about alliances with criminal organizations, stressing the importance of sovereignty: \"Which is not negotiable.\"
Canada Hits Back
Canada announced its own set of retaliatory tariffs on U.S. imports. Prime Minister Justin Trudeau declared that Canada will levy 25-percent tariffs on 30 billion Canadian dollars ($21 billion) worth of American goods starting Tuesday. 🍁
\"More non-tariff trade actions are still to be decided,\" Trudeau added, hinting at potential restrictions on exporting critical minerals and energy products to the U.S. and blocking American companies from bidding on government contracts.
China Warns of No Winners in Trade Wars
China firmly opposed the U.S. decision to impose a 10-percent additional tariff on imports from China. A Chinese foreign ministry spokesperson stated, \"There is no winner in trade and tariff wars,\" emphasizing that such moves violate WTO rules and harm all parties involved. 🇨🇳
He added that China is one of the world's toughest countries on counternarcotics and has supported the U.S. in tackling the fentanyl issue \"in the spirit of humanity and goodwill.\"
Expert Insights
Professor Ji Wenhua from China's University of International Business and Economics commented, \"Unilateral trade coercion violates WTO rules and disciplines, thus constituting the incorrect way to solve the problem.\" He warned that higher tariffs could backfire, increasing burdens on American consumers and undermining U.S. companies' competitiveness globally. 🎓
Ji stressed that the key to solving issues like fentanyl lies in stronger multilateral cooperation. 🤝
(With input from agencies)
Reference(s):
cgtn.com
