Global Trade Shockwave: Trump's Tariffs Ignite International Tensions

US President Donald Trump's new tariffs have sparked global concern, with reactions ranging from European dismay to urgent negotiations in Asia. These tariffs, ranging from 10% to 49%, are intended to bolster US industry but may prompt trade wars and economic instability amid global reliance on US markets.

In a dramatic policy shift, US President Donald Trump announced sweeping new tariffs, ranging from 10% to 49%, aimed at revitalizing the domestic economy. This decision has led to global dismay and calls for negotiation, amid fears of a looming trade war. Key trading partners expressed concern, with Europe's Ursula von der Leyen warning of a 'major blow to the world economy'.

Asian markets reacted negatively on Thursday, with Vietnam's stock market taking a significant hit after high tariffs on exports to the US were imposed. Vietnamese Prime Minister Pham Minh Chinh remains optimistic about reaching an 8% economic growth target, despite the harsh tariffs, which could impact the garments and sportswear sectors, including brands like Nike and Adidas.

The ripple effects of Trump's tariffs have reached nations like Fiji, Israel, and the UK, sparking criticism and calls for fair trade negotiations. German and Japanese officials have flagged potential economic repercussions, and countries like Thailand are ready to negotiate to balance trade. Meanwhile, Ukraine and Fiji seek better conditions amid heightened US tariffs.

(With inputs from agencies.)