around the world were reeling Thursday following President Donald Trump鈥檚 latest and most severe , 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 and Big Tech stocks to small companies that invest only in U.S. real estate.
Here's the latest:
Sanders loses fight to block bomb sales to Israel
Sen. Bernie Sanders led a group of senators Thursday in a failed fight to block a new multibillionaire bomb sale to Israel. Two different attempts received only 15 votes in support, with more than 80 senators opposed.
As Israel鈥檚 main source of military aid, 鈥淲e are deeply complicit,鈥� Sanders told lawmakers from the Senate floor.
In February, Trump bypassed normal congressional review to approve a nearly $3 billion sale to Israel with more 2,000- and 500-pound (900- and 230-kilogram) bombs and other warheads.
Sen. Chris Van Hollen, a Maryland Democrat, pointed to what he called the 鈥渢wisted vision鈥� of Trump and Prime Minister Benjamin Netanyahu to move Gaza鈥檚 more than 2 million Palestinians out of the territory.
鈥淲hat happened to the man who pledged to bring peace to the Middle East?鈥� Van Hollen asked.
Dow drops nearly 1,680 in biggest wipeout since 2020
The S&P 500 fell 4.8% Thursday, more than other major stock markets. The Dow Jones Industrial Average dropped 1,679 points, and the Nasdaq composite sank 6%.
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US supply chain leader says Trump should exempt some products from tariffs
The Consumer Brands Association, which represents big food companies like Coca-Cola, General Mills, Nestle, Tyson and Del Monte as well as consumer product makers like Procter & Gamble and Colgate-Palmolive, said its companies already make the majority of their goods in the U.S.
But there are critical ingredients and inputs 鈥� like wood pulp for toilet paper 鈥� that must be imported because of scarce domestic availability. Cinnamon is harvested from trees that can鈥檛 survive in the U.S., for example. Domestic production of coffee and cocoa is also limited.
鈥淲e encourage President Trump and his trade advisors to fine-tune their approach and exempt key ingredients and inputs in order to protect manufacturing jobs and prevent unnecessary inflation at the grocery store,鈥� said Tom Madrecki, the association鈥檚 vice president of supply chain resiliency.
Argentina鈥檚 president is off to Mar-a-Lago, defending Trump鈥檚 tariffs
Javier Milei, a libertarian who frequently showers praise on the American president, posted on X a link to the Queen song 鈥淔riends will be Friends鈥� as global markets slumped and trade tensions spiked.
Milei said he hopes to meet informally with Trump during Thursday night鈥檚 鈥淎merican Patriots Gala鈥� where his office said both he and Trump will be receiving an award.
Meanwhile, his spokesperson dismissed the irony of Milei defending Trump鈥檚 10% tariffs on Argentine products, even as he staunchly opposes protectionism for Argentina鈥檚 long-constricted economy.
鈥淭rump is not a protectionist,鈥� Manuel Adorni said. 鈥淲e believe his approach is pro-trade, and he raises tariffs on countries that are either protectionist or have a disproportionate level of tariffs.鈥�
Trump offers first reaction to stock market drop day after tariff announcement
The president commented as he left the White House for a trip to Florida, saying, 鈥淚 think it鈥檚 going very well.鈥�
鈥淭he markets are going to boom, the stock is going to boom and the country is going to boom,鈥� Trump said.
The as U.S. stocks lead a worldwide sell-off after Trump鈥檚 announcement of tariffs against much of the world ignited a COVID-like shock.
Italian premier says Trump鈥檚 tariffs are not a catastrophe
Giorgia Meloni told Italian state TV on Thursday that she believes Trump鈥檚 decision to impose 20% tariffs on exports from Europe is 鈥渨rong,鈥欌�� but 鈥渋t is not the catastrophe that some are making it out to be.鈥欌��
The U.S. market represents 10% of Italy鈥檚 total exports, but she argued that retaliatory tariffs could do more harm to Italy鈥檚 economy.
She said that the government would meet next week with representatives of affected sectors to formulate proposals to present to Italy鈥檚 European partners. 鈥淲e need to open an honest discussion on the matter with the Americans, with the goal 鈥� at least from my point of view 鈥� of removing tariffs, not multiplying them,鈥欌�� Meloni said.
Pentagon acting inspector general announces investigation into defense secretary鈥檚 use of Signal chat for Houthi attack plans
The watchdog at the Pentagon said he would review Pete Hegseth鈥檚 use of the Signal messaging app to convey plans for a military strike against Houthi militants in Yemen.
The review will also look at other defense officials鈥� use of the publicly available encrypted app, which is not able to handle classified material and is not part of the Defense Department鈥檚 secure communications network.
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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 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.
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.
Brazil鈥檚 Congress unanimously gives its president power to retaliate against Trump鈥檚 tariffs
Brazil 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 U.S. 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.
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.
鈥淔ederal financial assistance is a privilege, not a right,鈥� Craig Trainor, acting assistant secretary for civil rights, said in a statement.
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� government spokesperson Thabo Sekonyela said.
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.
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. He 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," Wicker said. "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.:
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.
AP-NORC poll: Trump鈥檚 government changes aren鈥檛 a clear political winner or loser 鈥� yet
Trump鈥檚 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 fire thousands of federal workers, close Social Security Administration field offices, effectively shutter entire agencies and haven鈥檛 yet created a significant independent backlash 鈥� or spurred independent support.
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�
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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 added. 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�
Americans eat fresh fruit year-round thanks to imports from the Global South
The sweeping tariffs could increase prices for Americans who depend on citrus from 1400 producers across southern Africa, said 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 U.S. 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�
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.
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 U.S.
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 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.
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 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.
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 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 U.S., Ukrainian Economy Minister Yuliia Svyrydenko posted on X.
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," she wrote. 鈥淏oth our countries will benefit from fair tariffs.鈥�
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 U.S. 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 U.S. to reconsider its tariffs measures and that he will directly negotiate with Trump, whenever it is considered appropriate.
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 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."
鈥淚t is clear to everyone that more and more countries are opposing the U.S.鈥檚 unilateral bullying actions, such as imposing tariffs,鈥� he said.
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 U.S. 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 鈥業nflation Day鈥�
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�
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 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 said 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 U.S. 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."
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 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 statement.
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 U.S. 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 撸奶社区 that the message he was hearing from businesses was 鈥渞emain at the table, don鈥檛 overreact.鈥�
Britain says 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 US-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."
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 also said Thai exporters should 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.
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.
The Associated Press
