Donald Trump has finally done it. He warned that April 2, 2025, will be a date to remember, and here we are. He has placed reciprocal tariffs on all the countries. They may range from 54% to 25%. He has also placed a base tariff of 10% on every country.
This has severed several bonds that America forged over the years. Fair trade practices will also suffer due to this announcement of tariffs back and forth.
Trump has long pledged to apply reciprocal tariffs to nations that impose tariffs on American goods. The United Kingdom, the European Union, Japan, China, and Australia were among the nations on the list.
Capitalism has already reached its peak, and everything is extremely expensive. However, this move by giant exporters could completely destroy the world economy. The move amounts to a massive tax increase that may cause the international order to collapse.
It upsets the coalitions formed to maintain peace and economic stability. Yet, it also marks the beginning of what might be a painful shift for many Americans. Middle-class necessities like housing, cars, and clothes are predicted to become more expensive.
Just as the news of new tariffs keeps coming, the world leaders all over kept assuring their people that things will be under control.
Here’s some of the global reaction to US President Donald Trump’s plan to impose sweeping tariffs pic.twitter.com/Rru2DQxwkm
— Reuters (@Reuters) April 3, 2025
20% tariffs on the European Union and at least 10% to 15% against Norway have been declared. In response to it, Cecilie Myrseth, the Norwegian Minister of Trade and Industry, made a statement.
She said that since Norway also exports a lot to the EU, it is very crucial to understand what this tariff means. She stated on Norwegian public broadcaster NRK on Wednesday that “this is a serious day, and now we need to get an overview of what this actually means for Norway.”
Global reactions soon began pouring in:
1- China’s Stance -> China’s Ministry of Commerce labeled the tariffs as a “typical unilateral American aggression,” urging the U.S. to revoke the increased duties immediately. They warned that such actions jeopardize global development pic.twitter.com/9mofJ21bj2— Gabriel Iova (Gabri) (@gabri999) April 3, 2025
Trump’s reasoning for imposing these duties on his nation was questioned by Australian Prime Minister Anthony Albanese, who claimed it wasn’t the “act of a friend.”
Mr. Albanese stated that tariffs are not surprising for Australia. But he wanted people to know that they were completely unjustified. Reciprocal tariffs were mentioned by President Trump. Instead of 10%, a reciprocal duty would be zero. The administration’s tariffs are illogical and contrary to the values of our two countries, he said.
Swedish Prime Minister Ulf Kristersson stated that free trade and competition have been the cornerstones of Western success. He also stated that the nation would continue to advocate for international collaboration in spite of US attempts.
CHINESE STATE MEDIA:
CHINA, JAPAN, SOUTH KOREA REACH A CONSENSUS THAT THREE SIDES WILL JOINTLY RESPOND TO THE U.S. TARIFFS
— PiQ (@PiQSuite) March 31, 2025
Effects of Trump’s tariff policies were visible even before the announcement on Liberation Day. Earlier this week, China, Japan and South Korea formed a trade alliance for East Asia. The plan is to oust any Western influence from the Asian trade market.
One can understand the severity of these tariff policies if these nations come together against the United States. Now, it is to wait and watch if Donald Trump understands the importance of fair trade practices or not.
