‘Not the act of a friend’: World leaders fuming over Trump tariffs
World leaders have been left furious over Trump’s tariffs announcement.
Italian Prime Minister Giorgia Meloni dubbed the tariffs “wrong,” adding that it could lead to a trade war.
She stated that their priority is to negotiate a deal with the United States to avoid a trade conflict that could weaken the western nations in comparison to other global players.
Meanwhile Australian Prime Minister Anthony Albanese has fumed that the tariffs are “totally unwarranted”.
He said: “President Trump referred to reciprocal tariffs, a reciprocal tariff would be zero, not 10 per cent.
“The administration’s tariffs have no basis in logic and they go against the basis of our two nation’s partnership.
“This is not the act of a friend.”
Switzerland to ‘quickly determine’ its next steps after tariffs
Swiss President Karin Keller-Sutter has said the country will “quickly determine” its next steps after Trump’s tariffs announcement.
She wrote on X: “The country’s long-term economic interests are paramount.
“Adherence to international law and free trade remain core values.”
Trump dubbed Switzerland as one of the “worst offenders,” with its goods to be taxed at 31 per cent under the new plan.
Mexico and Canada avoid latest tariffs
Canada and Mexico are safe from the tariffs – for now.
Trump confirmed that he was not imposing his new 10 per cent global tariff rate on goods from the two countries.
Despite this intent, the previous directive for tariffs of up to 25% on specific products from both countries related to border security and fentanyl trafficking concerns remains intact, as per information from the White House.
It read: “For Canada and Mexico, the existing fentanyl/migration… orders remain in effect, and are unaffected by this order.
Under this directive, goods conforming to the U.S.-Mexico-Canada Agreement (USMCA) will maintain a 0% tariff, while those not in compliance will face a 25% tariff. Energy and potash products not meeting USMCA standards will be subject to a 10% tariff.
“In the event the existing fentanyl/migration… orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.”
Bitcoin falls below eye-watering $85k
Bitcoin has fallen below an unbelievable $85,000 following Trump’s bombshell tariffs announcement.
In the run-up to the Republican’s speech, the world’s largest cryptocurrency rocketed to nearly $88,000.
But it was quick to plummet after Trump’s tariffs speech finished, according to CoinDesk data.
Which countries received the lowest tariff rates?
Some countries managed to suffer a softer blow compared to others after Trump announced new tariff rates today.
The UK, Australia and Brazil are among those to receive the lowest tariff rate at 10 per cent.
El Salvador also had the 10 per cent rate, meanwhile Argentina also managed to escape heavy tariffs.
Democrats dub tariffs as economic ‘poison’
The Democrats have slammed Trump’s tariffs, dubbing them as economic “poison” for Americans.
Senator Ron Wyden said: “American families need relief from rising prices and stagnant growth but instead Donald Trump… is administering economic poison to our economy.
“It’s a tax on almost everything families buy.
“The Republicans’ trade policy amounts to chaos and uncertainty all the way down, and working Americans are the victims.”
