Countries worldwide are hurriedly negotiating trade concessions and exemptions to avoid economic repercussions from new US tariffs.
Diplomatic Efforts ahead of 'Liberation Day'
The European Union and India are making concerted efforts to avert harsh US trade actions. The tariffs aim to counter levies on American products. EU and US trade officials are scheduled to meet in Washington to discuss potential exemptions. India also seeks to escape 'reciprocal tariffs' proposed by the Trump administration.
Global Trade Concessions
To mitigate economic impact from new US tariffs, countries are making trade concessions. The UK is considering repealing its digital services tax. Malaysia is adjusting its policy on semiconductor exports. Under pressure, Canada has enacted emergency economic measures to shield its companies from potential trade conflict costs.
Leaders' Steps Amid Economic Uncertainty
Global financial leaders predict a trade war could slow economic growth and increase inflation. China is initiating measures to brace for possible trade restrictions. With rising US tensions, Spain broadens its economic ties in Asia.
The introduction of new US tariffs significantly affects international trade relations. Countries globally are taking active diplomatic and economic steps to mitigate possible negative effects.
