World leaders react to Trump’s “Liberation Day” prices

World leaders react to President Donald Trump’s “liberation day”, who saw the United States imposing a 10% reference rate on all countries.

“On April 2, 2025, we will forever remember when the day the American industry is reborn, the day of destiny of America was recovered and the day we started to make America rich,” said Trump in his pricing announcement on Wednesday.

Some countries have been struck stronger than others. The United States has imposed a price of 46% in Vietnam, a tariff of 20% on the European Union and a rate of 32% in Taiwan.

Trump did not increase the prices in Canada and Mexico, keeping them consistent at 25%. China, however, was hit by an additional 34%rate, bringing its total to 54%.

World leaders have called unjustified and regrettable prices and urge Trump to reconsider or provide exemptions.

Meanwhile, the American secretary of the Treasury, Scott Bessent, said that countries should refrain from imposing reprisal rates. He told Bloomberg on Wednesday that without reprisal measures, the prices of April 2 would remain “high -end of the number”.

Addressing CNN, Bessent said that his advice for other countries were to “sit” and “take a deep inspiration”.

“Let’s see where it goes because if you retaliate, that’s how we get an escalation,” said Bessent.

Australia

Australian Prime Minister Anthony Albanese said the prices were not unexpected but “totally unjustified”. Australia was affected with a price of 10%.

“Administration prices have no logic base and they go against the basis of the partnership of our two nations. This is not the act of a friend,” said Albanese in a video on X.

However, he added that Australia would not impose reciprocal prices.

“We will not join a race down, which causes higher prices and slower growth,” said Albanese.

Canada

Prime Minister of Canada, Mark Carney, responded to the prices in an article on Wednesday on X, saying Canada “fighting these rates with countermeasures”.

“We are going to protect our workers, and we will build the strongest economy in the G7. In a crisis, it is important to meet, and it is essential to act with a goal and with force, and that is what we will do,” said Carney.

China

The Chinese Ministry of Commerce responded to the 34% Trump’s additional prices, which stacked the 20% exempt in the previous months.

The ministry said that China “would resolutely take countermeasures to protect its own rights and interests” – but at the time of the press, China has not triggered reprisals.

“Historical evidence shows that the increase in prices does not solve America’s problems. They rather harm America’s interests and threaten global economic development and the stability of the supply chain,” said the Declaration of the Ministry of Commerce.

“Trade wars do not have winners and protectionism has no way out. The Chinese party urges the United States to immediately raise its unilateral tariff measures and properly resolve the differences with business partners by an equal dialogue,” he added.

Trump first imposed a 10% rate on Chinese goods in February before doubled them at 20% last month. While on the campaign track, Trump said he would impose prices of more than 60% on Chinese products if they were elected.

In both cases, China quickly responded to Trump’s prices. In February, China imposed a 10% tariff on crude oil and agricultural equipment and a 15% tariff on coal and liquefied natural gas. Then, in March, China introduced a 10% rate on American imports of soy, pork and beef, as well as a 15% price on imports of chicken and cotton.

European Union

The president of the European Commission, Ursula von der Leyen, said in a statement on X on Wednesday on X that Trump prices were a “major blow to the world economy” with “disastrous” consequences for millions of people.

“At the same time, we are ready to respond. We are already finalizing the first bunch of countermeasures in response to steel prices, and we are now preparing for other offsorings to protect our interests and our businesses,” she added.

Italy

Italian Prime Minister Giorgia Meloni said in an article on Facebook on Wednesday that the American prices on the European Union were wrong and “do not agree”.

“We will do our best to conclude an agreement with the United States, aimed at preventing a trade war that would inevitably weaken the West in favor of other world actors,” said Meloni.

But Italy “will act in the interest of Italy and its economy,” she added.

Japan

Japan was affected by a price of 24% – and its Minister of Commerce, Yoji Muto, described the measure as “extremely regrettable”. “”

Muto said at a press conference in Tokyo that the country “will continue to urge the United States to exempt Japan from these prices”.

Muto said he spoke to the secretary of trade Howard Lunick before the announcement of the prices, where he explained how Trump’s measures “would negatively affect the American economy by undermining the capacity of Japanese companies to invest.”

“We have frankly discussed how to continue cooperation in the interest of Japan and the United States in a way that does not rely on prices,” said Muto.

The chief secretary of the Japanese cabinet, Yoshimasa Hayashi, said that the government will continue to examine “the content of these measures and their impact on Japan”.

“We believe that recent measures and other broad commercial restrictions imposed by the United States government may have a significant impact on economic relations between Japan and the United States, and ultimately on the global economy and the multilateral trade system as a whole,” said Hayashi.