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The broad new tariffs introduced by US President Donald Trump have caused concern, led to retaliatory threats, and spurred urgent appeals for discussions to potentially overturn the harsh new taxes on imports from various countries worldwide.
But responses have been measured, highlighting a lack of appetite for an outright trade war with the world’s biggest economy.
Trump claims that these import taxes, which range between 10% and 49%, mimic the actions long taken by other nations against the US. He argues that these measures will encourage factories and jobs to return to America.
Mexican President Claudia Sheinbaum expressed that she would observe the impact of Trump’s announcement on Mexico. Although Mexico and Canada have been exempted for goods under their free trade agreement with the US, the previously declared 25% tariffs on automobile imports came into effect on Thursday.
A 29 per cent tariff imposed on the tiny South Pacific outpost of Norfolk Island came as a shock. The Australian territory has a population of about 2000 people and the economy revolves around tourism.
“To my knowledge, we do not export anything to the United States,” Norfolk Island Administrator George Plant, the Australian government’s representative on the island, told the AP on Thursday. “We don’t charge tariffs on anything. I can’t think of any non-tariff barriers that would be in place either, so we’re scratching our heads here.”
