Global Retaliation: Nations Brace Against U.S. Tariffs Unveiled by Trump

In response to President Donald Trump's announcement of new tariffs on global goods, several nations declared their initiatives to counter these measures. The EU, China, and others are gearing up for negotiations or reciprocal actions to safeguard their economic interests. This move could affect global trade dynamics significantly.

President Donald Trump's recent announcement of a new 10% tariff on goods from international markets has prompted global reaction, as nations express their intent to counter the U.S. measures. This tariff applies universally, while additional reciprocal tariffs affect countries with perceived high barriers to U.S. imports.

The European Union, led by European Commission President Ursula von der Leyen, is finalizing its response package and preparing for further countermeasures if negotiations don't succeed. China, opposing the reciprocal tariffs, has vowed to take steps to protect its rights after being hit with a 34% tariff rate. Similarly, Japan, South Korea, and Canada are strategizing their responses to lessen the impact on their economies.

Mexico and the United Kingdom remain open to discussions, either through establishing new agreements or refraining from tit-for-tat tactics. Australia and Brazil also weigh their options amidst worldwide criticism of the U.S. approach. This unfolding situation could redefine international trading relations and economic policies in the near future.

(With inputs from agencies.)