By Victor Akan
EU Chief Ursula Von Der Leyen and US trade partners are urging Donald Trump to reconsider the sweeping new tariffs he has imposed on dozens of countries around the world.
The EU chief, while describing the tariffs as a “major blow to the world economy” said that “Brussels was prepared to respond” with “new countermeasures to mitigate the losses and protect the interests of the people and businesses if negotiations fail.”
But, von der Leyen added, “It is not too late to address concerns through negotiations.”
Japan, a major trade and defence partner of Washington, has slammed the imposition of tariffs by the Donald trump administration, terming them “extremely regrettable” and suggesting that they may break World Trade Organisation rules, as well as a US-Japan trade agreement.
Japanese firms are the biggest investors in the United States, but Tokyo has failed to secure an exemption, with Trump announcing a hefty 24 per cent levy on Japanese imports.
Trump hasn’t stopped there. In what has been a surprising shock for the Israeli government, he slammed a 17 per cent tariff duty on Israeli imports, making it clear that Trump is not considering sparing anyone from the umbrella of sanctions he has imposed on the major economies of the world.
The tariffs include a 17 per cent duty on Israeli products imported to the United States. Tel Aviv was also brought under the tariff list, despite Israel seeking to prevent the move with a directive that Finance Minister Bezalel Smotrich signed Tuesday to immediately scrap all remaining tariffs on American imports.
The Manufacturers Association of Israel said the tariffs are “worrying” and will seek to work with the finance and economy ministries to reverse the development.
Speaking in the White House Rose Garden against a backdrop of US flags, Trump slapped the most stinging tariffs on China and the European Union on what he called “Liberation Day”.
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said.
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