Trade war heats up: Which countries will strike back with tariffs against the US?

Nations around the world are considering counter-measures after President Donald Trump announced a flurry of new tariffs on trading partners.

Trump has been a loud proponent of tariffs and the new measures look set to play a key part of his economic strategy. However the decision to impose sweeping levies on other nations has sparked outrage in countries around the world, many of which are now considering their response.

One of the first to hit back was China, which announced on Friday a 34% tariff on all US imports. A statement from China’s finance ministry added: “China urges the United States to immediately lift its unilateral tariff measures and resolve its trade differences through consultations in an equal, respectful and mutually beneficial manner."

Will European countries make their own tariffs?

Mexico and Canada were exempted from the tariffs announced on Wednesday, meaning that a lot of the focus during the fall-out has been on the European nations. The Trump administration has no made secret of its mistrust of Europe and leaders have been forced to consider a future without close ties to the US.

On Saturday Britain’s Prime Minister Kier Starmer and President Emmanuel Macron of France met to discuss their response, agreeing that a trade war should be avoided but they refused to rule out the possibility of levying their own tariffs. A statement from the meeting read: “They agreed that a trade war was in nobody’s interests, but nothing should be off the table and that it was important to keep business updated on developments.”

However other European voices have sounded a bit more combative, willing to take the fight to Washington. European Commission President Ursula von der Leyen has been a vocal critic of Trump’s measures and revealed plans to pass a package of tariffs on $28.4 billion of US goods, a response to Trump’s steel and aluminium tariffs. Reuters reports that the EU may also consider more targeted measures, that could see limits introduced for American companies looking to access European public procurement tenders.

But the picture varies substantially across Europe. In Italy, Economy Minister Giancarlo Giorgetti has publicly warned against retaliatory tariffs and called for a “de-escalation” while speaking at a business forum near Milan on Saturday.

“We should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us,” Giorgetti insisted. “Our message is that we need to avoid pushing the panic button. … We are following a pragmatic and rational approach.”

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