Trump Tariff Highlights: Trump claims US in ‘driver’s seat’ after tariff announcements, says ‘now they will do anything for us’

India’s Federation of Indian Export Organisations (FIEO) expressed concerns over Trump’s 26% tariffs on Indian goods, warning that they will have a significant impact on domestic businesses and exports.

The German Automotive Industry Association (VDA) has strongly opposed the newly announced US tariffs, warning that they “will only create losers.” The organisation urged the European Union to respond decisively while remaining open to negotiations.

“The EU must now act collectively and with the necessary force while continuing to signal its willingness to negotiate,” the VDA stated. The US remains a crucial export market for Germany’s auto industry, making the tariffs a significant concern.

Major stock markets across the Asia-Pacific region opened lower on Thursday following the announcement of new US tariffs. Japan’s Nikkei 225 dropped 4% in early trading after US President Donald Trump imposed a 24% tariff on Japanese imports.

Meanwhile, Australia’s ASX 200 fell around 2%, reacting to a baseline 10% tariff imposed by the US on Australian goods. The market downturn reflects investor concerns over escalating trade tensions and potential economic fallout in the region.

The sweeping new tariffs announced Wednesday by US President Donald Trump were initially met with cautious responses from key trading partners, signaling a reluctance to escalate into a full-fledged trade war.

Swedish Prime Minister Ulf Kristersson: “We don’t want growing trade barriers. We don’t want a trade war… We want to find our way back to a path of trade and cooperation together with the US, so that people in our countries can enjoy a better life.”

Brazil’s government said in a statement it “is evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organization, in defense of legitimate national interests”.

South Korean Acting President Han Duck-Soo: “As the global trade war has become a reality, the government must pour all its capabilities to overcome the trade crisis.”

Colombian Foreign Minister Laura Sarabia: “We are looking at the measures, above all in order to protect national industry and our exporters.”

Australian Prime Minister Anthony Albanese criticised the 10% tariffs imposed by the US, calling them “not the act of a friend.” Despite this, he ruled out retaliatory measures.

“These tariffs are completely unwarranted,” Albanese stated in a press conference. He emphasised that Australia imposes no duties on US imports and should, therefore, not be subjected to American tariffs. His remarks come just weeks ahead of Australia’s general election on May 3.

While key US allies Canada and Mexico are exempt from the latest tariff hikes, other major trading partners face steep additional duties. The European Union will be subject to a 20% tariff, while China will see a 34% levy.

Other affected nations include India, which faces a 26% increase, South Korea at 25%, and Japan at 24%. However, countries already under heavy US sanctions—such as Cuba, Belarus, North Korea, and Russia—are not included in the new “reciprocal tariffs,” according to the White House. Trump also introduced a 26% “discounted reciprocal tariff” specifically targeting Indian exports.

Asian markets fell sharply on Thursday after US President Donald Trump announced sweeping tariff surge on global imports. Tokyo’s Nikkei 225 declined over 3.4%, slightly rebounding to a 2.9% loss at 34,699.52. The reason behind the selloff is that Trump announced a 24% ‘’reciprocal trade’’ on Japanese goods. This is one of the surprising decisions taken against one of America’s closest allies, as reported by Associated Press.

The United States’ new tariffs range from 10% to 49% and have been termed by US President Donald Trump as ‘’reciprocal’’ have drawn sparked reactions from around the world. UK Business Secretary Jonathan Reynolds highlighted that ‘’nobody wants a trade war and wanted a deal to limit the damage. Italian Prime Minister Giorgia Meloni has also described the EU-targeted tariffs ‘’wrong’’ and warned that they will weaken the West. Australia’s PM Anthony Albanese criticised the decision as illogical and pointed out , ‘’This is not the act of a friend, ” as quoted by Reuters.

Meanwhile, Mexico’s President Claudia Shienbaum withheld action, focusing on domestic stability, whereas Canada stood firm on earlier retaliatory measures. Chile President Boric cautioned that such actions endanger the foundations of global trade.

Stocks have been impacted by fresh tariffs, which are more severe than expected. US President Donald Trump’s declaration of expanded trade barriers has disrupted supply chains and has affected the global markets. Tech stocks are leading the decline, as the Nasdaq has declined by 4%. The reason behind the plunge is due to China ‘s role in manufacturing and a newly imposed 34% tariff on it. Apple shares have also dropped by 7% in after-hours trading, as per latest report by Reuters.

The sweeping duties will erect new barriers around the world’s largest consumer economy, reversing decades of trade liberalization that have shaped the global order. Trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices for everything from bicycles to wine.

The administration has said the new tariffs will take effect immediately after Trump announces them, though it has not yet published the official notice required for enforcement. The administration, however, did publish an official notice that a separate set of tariffs on auto imports that Trump announced last week will take effect starting on April 3. Trump has already imposed 20% duties on all imports from China and 25% duties on steel and aluminum and extended them to nearly $150 billion worth of downstream products.

Trump said autos tariffs will cover cars, light trucks, engines, transmissions, lithium-ion batteries and lesser parts including tires, shock absorbers and spark plug wires

“We have a majority of seven, and seven’s, like, a lot, when we had it at one, right?” Trump said of the House majority during his Rose Garden event.

Republicans will hold a 220-213 majority in the House after Tuesday’s two special election victories in Florida, giving them a 7-seat cushion.

US President Donald Trump says levies could have been far more harsh on trading partners. The POTUS said that he was implementing ‘discounted’ and ‘kind’ reciprocal tariffs and noted that the numbers — steep as they were — did not match the rates imposed by some countries on American exporters.

Trump said that he had a message for ” all of the foreign presidents, prime ministers, kings, queens, ambassadors and everyone else who will soon be calling to ask for exemptions from these tariffs”.

“To foreign leaders, I say terminate your own tariffs. Drop your barriers,” he said.

Trump has announced a baseline ‘reciprocal tariff’ of 10% on all countries. Some nations were singled out for higher percentages — including India which now faces a 26% tariff.

Donald Trump also announced a minimum baseline tariff of 10% for other countries’ not explicitly mentioned on the list.

Donald Trump says Prime Minister Modi “a great friend” as he announces 26% reciprocal tariffs.

Donald Trump Tariff Announcement Live Updates: India to be charged ‘discounted’ reciprocal tariff of 26%

“In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal: That means they do it to us and we do it to them…This is one of the most important days, in my opinion in American history. It is our Declaration of Economic Independence. For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense…With today’s action, we are finally going to be able to make America great again, greater than ever before…” Trump said.

“It’s our declaration of economic independence… For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper.”

US President Donald Trump says US will impose 25% tariffs on all foreign-made automobiles from midnight on Wednesday (Washington time).

US President Donald Trump cites examples of ‘vicious attacks’ it faces from other countries. He notes that India charges 70% in automobile tariffs.

“The United States charges other countries only a 2.4 tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like India charges 70%, Vietnam charges 75% and others are even higher than that…Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don’t blame these other countries at all for this calamity. I blame former presidents and past leaders who weren’t doing their job…Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” he said.

Trump said he would soon sign an executive order initiating ‘reciprocal tariffs for countries throughout the world’.

US President Donald Trump began his address by reiterating that today was ‘Liberation Day’ for the country.

US manufacturing activity declined in March — reversing two months of expansion — amid continued uncertainty over tariffs. Survey data released by the Institute for Supply Management indicated that the manufacturing index fell to 49% — down from 50.3% in February.

Donald Trump is due to appear shortly at the White House Rose Garden on Wednesday for a “Liberation Day” ceremony where he is expected to announce sweeping tariffs that could escalate a trade war and upend the global economy.

The Trump administration has explored several strategies in the run-up to the tariff announcement. One proposal suggested an uniform 20% tariff on all imports — which could reportedly bring in over $6 trillion in revenue for the US government. Another option would entail the imposition of tariffs at various levels on the basis of trade restrictions placed by individual countries on American goods. A third option would also consider granting exemptions to various nations through trade agreements.

Senate Republicans are facing pressure Wednesday from President Donald Trump to oppose a Democratic resolution that would nullify the presidential emergency on fentanyl he is using to implement tariffs on Canada. The Senate is expected to vote on a resolution that offers Republicans an off-ramp to the import taxes on Canada — just hours after Trump is set to announce his plan for “reciprocal tariffs” on China, Mexico and Canada. It is a significant test for Republican loyalty to Trump’s vision of remaking the US economy by clamping down on free trade.

US President Donald Trump is expected to reveal sweeping tariffs in less than an hour — with stocks fluctuating ahead of the announcement. US stocks climbed gradually midday before falling from their peaks. They have so far continued to hold onto their gains in afternoon trading. Meanwhile oil prices edged higher on Wednesday as market participants braced for the announcement