That knowing about American trade in the world of global tariff tensionsExBulletin

A worker cuts a piece of steel for a customer in North York Iron, a supplier of steel in Toronto, Ontario, Canada, February 11. Cole Burston / AFP via Getty Images Hide Legend

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In less than two weeks, President Trump upset the world markets by imposing prices for imports from several of the main American business partners.

The initial shock that is still settling in, countries adopt different approaches in response while fighting to follow Trump's unpredictable trade policies.

The European Union and Canada quickly moved this week, announcing billions of dollars in reprisals. Others, such as the United Kingdom, Mexico and China, adopt a more cautious approach.

Meanwhile, the markets are in free fall, and economists have alarms on inflation and a possible American recession.

Here is the last on where things are with some of the largest American business partners.

The European Union

On Wednesday, the European Union announced $ 28 billion in reprisals, including samples from Kentucky Bourbon, Jeans and Harley-Davidson motorcycles.

The president of the European Commission, Ursula von der Leyen, said that the EU was acting to “protect consumers and business” after the Trump administration's decision to place a 25% tariff on steel and aluminum imports.

She defended the countermeasures of the EU as “strong, but proportioned”, and said that Brussels “will always remain open to negotiation”.

EU reprisal measures should take effect in April and will be introduced into two stages.

From April 1, the block of 27 countries will repimulate for $ 4.9 billion in tariffs which date back to the first term of Trump.

On April 13, an additional series of new prices will be placed on more than $ 19 billion in American goods, subject to the approval of the EU member states. They would include samples from agricultural products, industrial machines and household appliances. Certain prices in this Tour would specifically target products produced in republican states.

In response, Thursday, Trump described the EU as “the most hostile and abusive authorities of taxation and pricing in the world”. He threatened to impose a 200% rate on European alcohol.

The United Kingdom

Unlike the EU, the United Kingdom has adopted what British Prime Minister Keir Starmer calls a more “pragmatic” approach, choosing not to retaliate against the prices of steel and aluminum of Trump.

“Obviously, like everyone else, I am disappointed to see the global prices related to steel and aluminum,” Starmer told legislators on Wednesday.

“But we will adopt a pragmatic approach. We are, as [Trump] knows, negotiating an economic agreement that covers and will include prices if we succeed. But we will keep all the options on the table. “”

The United States imports more than $ 450 million steel from the United Kingdom each year.

Gareth Stace, the chief of UK Steel, an industry group, says it is “extremely disappointing” and “will strike us hard”.

The United States and the United Kingdom are negotiating a bilateral trade agreement, which would likely eliminate prices.

Canada

Canada imposed new reprisals against the United States on Wednesday, targeting $ 20.6 billion in American imports.

These measures, which entered into force early Thursday, include a price of 25% out of $ 8.8 billion in American steel products, $ 2 billion in aluminum products and other products such as sports equipment, melting and computers.

This marks the latest development in a stunning dispute on the trade in tit-tray between the two nations, triggered by prices of 25% of Trump on most imports of Canada and Mexico, which came into force earlier this month.

Shortly after imposing the prices, Trump temporarily raised them on cars and goods covered by the American-Mexican-Canadian agreement, delaying the application until April 2.

The back and forth did not stop there.

Earlier this week, Ontario Prime Minister Doug Ford imposed 25% reprisals for electricity exports to Minnesota, Michigan and New York, and warned that electricity could be completely cut if Trump increased the trade conflict.

In response, Trump offered 50% of steel and aluminum prices, but reversed this decision 24 hours later.

The Minister of Finance of Canada, Dominic Leblanc, as well as the Prime Minister of Ontario Ford will direct a commercial delegation in Washington, DC, to meet the Trump administration and discuss commercial issues on Thursday.

Mexico

Mexico had initially planned to impose reprisal rates in response to American prices for imports of steel and aluminum, but President Claudia Sheinbaum suspended these plans before the deadline of April 2.

The prices on all automotive imports and goods in accordance with the agreement of the United States-Mexico-Canada have also been postponed.

Mexico had indicated that it would place samples from American products, but has chosen to remember for the moment.

China

China has adopted a measured approach to the trade conflict.

Although he imposed countermeasures in response to the prices that were introduced by the United States since President Trump took office, Beijing generally reacted more strategic.

After Trump's new prices on all American steel and aluminum imports, China is committed to taking “all necessary measures” to protect its interests.

In addition to reprisal rates, China has filed an official complaint with the World Trade Organization.

On Tuesday, the Chinese Ministry of Commerce also summoned Walmart leaders to discuss the reports that the American retailer asked Chinese suppliers to reduce prices to absorb pricing costs, a problem closely monitored by the Chinese authorities.

India

India had prepared prices from the Trump administration while trying to stay ahead of them. But New Delhi is also concerned about the impact on its manufacturing competitiveness.

Before the February 13 meeting of Prime Minister Narendra Modi with Trump in Washington, India reduced prices preventively on several goods, including Harley-Davidson Motorcycles, a decision considered as a gesture of good will.

The Indian Minister of Commerce went to Washington last week to negotiate exemptions, but moved away empty.

Trump distinguished India in his recent speech announcing “reciprocal prices”, noting that more commercial friction could be ahead.

Meanwhile, the government of India looks closely at the American-Chinese trade tensions, hoping to benefit by potentially attracting the manufacture of China to India.

Brazil

The Brazilian government has strongly sentenced Trump's steel prices.

As the third steel exporter in the United States, Brazil maintains that the 25% levy ignores the long-standing economic ties between the two countries.

Brazil has opted for immediate reprisals for the moment. The Ministry of Foreign Affairs says it will take measures to protect its steel industry and workers while pursuing commercial negotiations.

Brazil Steel Institute has also rejected, noting that, under Trump's first term, the United States and Brazil had agreed to export ceilings, which Brazil has honored. The group also stressed that the United States manages a trade surplus of several billion dollars with Brazil.

While the Brazil steel sector approaches for losses, its soy producers could see gains.

As other countries impose reprisal prices on American agricultural products, Brazilian soy exports have become much more competitive.

South Korea

The South Korea government declared an “emergency mode of intervention” after the United States has imposed 25% tariffs on all imports of steel and aluminum. This decision underlines the emphasis made by the Trump administration on the reduction of the American trade deficit.

South Korea, the fourth steel exporter in the United States, asked for an exemption. Now, his commercial ministry advises companies on possible countermeasures, in particular the displacement of production to the United States or the diversification of the export markets.

In order to facilitate tensions, South Korea has committed to reducing its trade surplus with the United States by increasing energy imports and expanding naval construction contracts for American buyers.

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