Retaliation or Negotiation? Countries Respond to Incoming Trump Tariffs

TaiwanPlus News

Some of the biggest U.S. trading partners, including Canada, Mexico and China are responding to President Trump's new tariffs on imports, while the European Union expects tariffs to be imposed in the not-too-distant future.

Transcript

00:00U.S. President Donald Trump says Americans could feel some short-term pain after several

00:05countries promised retaliation over a slew of U.S. tariffs.

00:10Canada and Mexico have already announced counter-tariffs on U.S. goods after Trump signed executive

00:15orders imposing a 25 percent tax on the two countries' imports.

00:20China, which was hit with 10 percent tariffs, will reportedly propose restoring the unused

00:25Phase 1 trade agreement from 2020, according to the Wall Street Journal.

00:30That deal required China to increase purchases of American products by about $200 billion

00:35U.S. dollars over a two-year period.

00:38And speaking about the EU, Trump said that tariffs were incoming, but that deals with

00:42the U.K. could be worked out.

00:45Well, Prime Minister Starmer has been very nice.

00:48We've had a couple of meetings.

00:49We've had numerous phone calls.

00:50We're getting along very well.

00:51And we'll see whether or not we can balance out our budget.

00:52With the European Union, it's a $350 billion deficit.

00:53So, obviously, something's going to take place there.

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