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tmtpost -- u.s. treasury secretary scott bessent said on monday that "maybe 70 countries" have approached the white house to discuss trade in recent weeks.
in an interview with fox news, bessent expressed optimism that productive negotiations could lead to reduced tariff levels—particularly for nations that choose not to impose retaliatory measures, he told fox news.
"it is my hope that through good negotiations, tariff levels will come down for countries that don't retaliate," he said.
china
china will resolutely take countermeasures to safeguard its rights and interests should the united states escalate its tariff measures, the country's commerce ministry said tuesday.
“the u.s. threat to escalate tariffs on china is a mistake on top of a mistake, once again revealing its coercive tactics,” china’s ministry of commerce said in a statement on tuesday. “if the u.s. insists on going its own way, china will fight to the end.”
china announced on friday that it will impose a 34% tariff on all imports from the united states starting april 10, delivering on its promise to retaliate after us president donald trump escalated the ongoing global trade dispute.
donald trump has threatened china with an additional tariff of 50% on goods imported into the us if it does not withdraw a countermeasure, effective april 9.
china, japan and south korea agreed to jointly respond to u.s. tariffs, an assertion seoul called "somewhat exaggerated", while tokyo said there was no such discussion.
hong kong sar
hk financial secretary paul chan mo-po emphasized the importance of preserving hong kong’s status as a free and open economy, saying that the city has no intention of retaliating against the united states’ newly imposed 34% tariff on chinese goods, despite its strong opposition to the move.
chan acknowledged on saturday that the sweeping global tariffs introduced by washington are likely to impact market sentiment, particularly in the financial sector. however, he assured that the hong kong government already has mechanisms in place to manage and mitigate potential risks arising from such developments.
european union
eu announced monday that it perfers negotiation and has proposed a “zero-for-zero” tariff agreement in a bid to prevent an escalating trade war with trump.
however, the bloc confirmed that it would begin imposing retaliatory duties on selected us imports next week.
european commission president ursula von der leyen criticized trump’s sweeping tariffs, calling them a significant blow to the global economy. she warned that the european union is ready to act if negotiations with washington do not yield progress.
von der leyen said that the eu is in the final stages of preparing an initial package of retaliatory tariffs targeting up to €26 billion ($28.4 billion) worth of us goods. the move is in direct response to the us steel and aluminum tariffs that came into effect on march 12, with the eu’s measures expected to be implemented by mid-april.
the retaliatory tariffs will be phased in starting april 15, with a second wave set for may 15.
the response comes as the 27-member bloc braces for sweeping new u.s. tariffs—25% on steel, aluminum, and autos, and a broader 20% levy on nearly all other goods—set to take effect wednesday under trump’s aggressive trade policy targeting nations he claims maintain unfair barriers to american products.
on saturday, elon musk advocated for a "zero tariff situation" between the u.s. and europe, as concerns over trump's new, large-scale tariff regime weighed on the stock market.
britain
british prime minister sir keir starmer has vowed that any trade agreement with the united states will be based solely on what benefits the britain, as he raised concerns over the economic fallout from trump’s newly announced tariffs.
speaking on the global market instability triggered by the u.s. measures, starmer said the tariffs present a “huge challenge for our future.” the britain is currently seeking a deal with washington to soften the blow, after being hit with a 10% baseline import duty and a steep 25% tariff on british-made cars.
as part of negotiations, the britain is also weighing potential changes to its digital services tax on large tech firms, signaling flexibility in pursuit of a broader agreement.
canada
canadian prime minister mark carney has pledged a firm and deliberate response to the latest round of tariffs announced by us president donald trump, declaring canada will act "with purpose and with force."
carney temporarily suspended his federal election campaign for the second time in two weeks to address trump’s new trade measures, unveiled on wednesday.
the newly introduced universal 10% tariff on us imports will apply globally, though canada has been exempted—having already been hit by separate tariffs imposed by the trump administration.
japan
japanese prime minister shigeru ishiba has described the latest u.s. tariffs as a “national crisis,” warning that the sweeping measures announced by trump pose a serious threat to japan’s export-reliant economy.
japan is weighing a prompt but carefully considered response after being unexpectedly included in the list of countries targeted by new us tariffs, which imposed a steep 24% rate on japanese exports.
“this requires a careful, yet bold and speedy approach,” said trade minister yoji muto in response to the announcement. “it is crucial that we make a calm and rational judgment on this matter.”
while retaliation remains on the table, muto emphasized that the government is still evaluating its options and will proceed with a measured strategy.
south korea
south korea’s finance minister choi sang-mok announced monday that the government is preparing targeted support for industries most vulnerable to the upcoming 25% us tariff, set to take effect later this week.
"the minister emphasized the importance of assessing the broader macroeconomic impact and prioritizing assistance for sectors with urgent needs," the finance ministry said in a statement.
singapore
singapore’s trade minister gan kim yong voiced disappointment on thursday over the united states’ decision to impose a 10% tariff on singaporean exports, despite the two countries having a free-trade agreement and singapore running a trade deficit with the us.
speaking at a press conference, gan noted that while singapore has the option to take countermeasures under the terms of the free-trade agreement in place since 2004, it has opted not to retaliate at this time.
malaysia
malaysia will take the lead in coordinating a regional response to us president donald trump’s newly imposed tariffs, prime minister anwar ibrahim announced.
“as asean chair, malaysia will spearhead efforts to present a united regional front, maintain open and resilient supply chains, and ensure asean’s collective voice is heard clearly and firmly on the international stage,” anwar said in a video address shared on his social media platforms late sunday.
anwar also revealed in a separate post that he spoke with vietnamese prime minister pham minh chinh regarding a coordinated regional strategy. additionally, he discussed the tariff issue with indonesian president prabowo subianto, who arrived in malaysia on sunday evening.
countries within the association of southeast asian nations (asean) — a bloc of ten nations — have been among the most severely impacted by the us tariffs. vietnam and cambodia face steep rates of 46% and 49% respectively, while malaysia has been hit with a 24% tariff under the trump administration’s trade measures.
brazil
on wednesday, brazil, which was hit with a 10% tariff, passed a reciprocity bill allowing it to retaliate against tariffs imposed on brazilian goods by any country or trade bloc. brazilian president luiz inácio lula da silva had previously stated that the country was considering appealing to the world trade organization (wto) over trump’s steel tariffs.
“the new measure, like the tariffs already imposed on steel, aluminum, and automobiles, breaches the united states’ commitments to the world trade organization and will affect all brazilian exports to the u.s.,” brazil’s foreign ministry said in a statement. “the brazilian government is evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the wto, to protect legitimate national interests.”
australia
australian prime minister anthony albanese on thursday criticized us president donald trump’s decision to impose a 10% tariff on australian goods, calling it “not the act of a friend.” despite the strong words, albanese confirmed that australia would not respond with reciprocal tariffs.
new zealand
new zealand’s trade minister todd mcclay refuted the trump administration’s claim that it imposed 20% tariffs on u.s. imports, but clarified that new zealand had no plans to retaliate against the new "reciprocal" tariffs imposed by the u.s.
“we are a low tariff country and we have benefited from it,” said new zealand's prime minister christopher luxon. “what we wouldn’t want to do is raise prices here in new zealand and contribute to inflation by imposing retaliatory tariffs.”
luxon also said that while tariffs are "not the way to go," new zealand, which now faces a 10% u.s. tariff, is in a better position to trade with the u.s. compared to countries facing harsher levies. "the bigger worry," he noted, "will be the global impact and the fallout from the tit-for-tat trade wars that may follow."
switzerland
swiss president karin keller-sutter announced on x on wednesday that the swiss government will "quickly determine the next steps" following the imposition of a 31% tariff on swiss goods by the u.s.
she emphasized that switzerland's long-term economic interests are paramount, and reiterated that adherence to international law and free trade remain core values for the country.
in response, economiesuisse, a business federation representing around 100,000 companies in switzerland, also expressed concerns on x, calling the u.s. tariffs "harmful and unfounded."
the federation further warned, "a further escalation of the trade conflict must be prevented," urging the swiss federal council and economic diplomats to swiftly seek solutions through negotiations with the u.s. government.
poland
polish prime minister donald tusk took to x on wednesday following trump’s announcement, which included a 20% tariff rate on the e.u., of which poland is a member: “friendship means partnership. partnership means truly reciprocal tariffs. adequate decisions are needed.”
a few hours later, tusk posted in polish, saying that the new tariffs could reduce poland’s gdp by 0.4%. “it’s a severe and unpleasant blow, especially since it comes from our closest ally, but we will survive it,” he added, while emphasizing that the “friendship” between the u.s. and poland “must also survive this test.”
taiwai region
taiwan authority has proposed zero tariffs as a foundation for talks with the us. he also indicated that taiwan is preparing to expand its purchases of american goods, including agricultural products, industrial supplies, and defense equipment.
indonesia
indonesia will not retaliate against trump's 32% trade tariff on southeast asia's largest economy, its senior economic minister said on sunday in the government's first response to the levy.
cambodia
cambodia's minister of labour and vocational training, heng sour, addressed concerns regarding the u.s. tariffs, which imposed one of the highest "reciprocal" rates at 49%.
he reassured that cambodia would be able to manage the consequences of the tariff increase. heng sour said on thursday that the higher tariff "is not politically motivated nor intended as a sanction against cambodia," noting that several other asian countries faced similarly high rates. he emphasized, "therefore, the tariff impact on cambodia’s production costs is not significantly more severe compared to other competing countries."
india
india has signaled it will refrain from imposing retaliatory tariffs. instead, it is reportedly open to reducing duties on more than half of us imports in a bid to protect its own export interests, government officials told reuters last week. during his announcement, trump referred to indian prime minister narendra modi as a “great friend,” though he criticized india for “not treating [the us] right.”
vietnam
vietnam's communist party leader to lam was among the first to initiate contact with trump after the tariff rollout. he reportedly urged the us to delay the tariffs while both sides work toward an agreement. with the us as vietnam's largest export market, the country faces one of the steepest penalties—a 46% tariff rate.
israel
israeli prime minister benjamin netanyahu is scheduled to visit washington on monday to discuss the tariffs, among other matters. netanyahu stated he would be "the first international leader" to meet with trump following the trade measures.
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