China has threatened to take resolute countermeasures in response to Trump's tariffs, urging the US to revoke unilateral measures and resolve differences through dialogue. China currently levies about 67% of tariffs charged to the USA, while the US's reciprocal tariff is 34%. The European Union has strongly advocated against a trade war, warning of impacts on both EU and American markets. Experts anticipate significant effects on global markets as countries react to these new tariffs.
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00:00Big news coming in. Responses coming in from other countries as well,
00:03especially if charges have been levied on them on a higher margin.
00:07China, threatening to retaliate on Trump tariff, will take resolute countermeasures,
00:13urging the United States of America to revoke the unilateral measures.
00:18We want America to resolve, China says, differences with dialogue.
00:23China, remember, levies about 67% of tariffs charged to the USA.
00:28In turn, USA's discounted reciprocal tariff, as Donald Trump has called it,
00:33is 34%. It's fairly higher compared to India and some other nations.
00:38China says, we will take resolute countermeasures, urging America to revoke
00:43unilateral measures, wants the USA to resolve differences via dialogue.
00:46I want to immediately bring in our guests and panelists this morning coming in.
00:52Ashok Sajjanhar, former diplomat, joining me as well.
00:56Daniel Block, Senior Editor, Foreign Affairs Magazine and Contributing Editor, The Washington
01:00Daily. Thank you so much, gentlemen, for joining us this morning on The First Up.
01:04I want to take the first question to Daniel Block on that. How do you view
01:09the kind of announcements that have come in,
01:12especially when it comes to now responses of other countries as well?
01:26All right, stay on with me. I'm also joined by Foreign Affairs Editor, Geeta Mohan. Geeta,
01:31quickly over to you on this. So as countries and the experts and the leaders are waking up,
01:35they're also realizing what happened. And how is China's response, do you think,
01:40will cater? They're already threatened earlier as well.
01:43Well, China's response is on expected lines. China was going to react very strongly.
01:50While there are exemptions that have been given to certain countries, including India,
01:53particularly on pharma sector, China couldn't have expected that for itself. And that's why
02:00they are looking at responding to these measures, to these reciprocal tariffs. Now,
02:08we'll have to wait and see what China really does, because what China does will impact US
02:13markets as also global markets. China has already said that a trade war, that nobody's a winner in
02:19a trade war. And this is not going to help America's case. America will also be waking up
02:26to how the markets are going to react to these reciprocal tariffs. Yesterday itself, we saw
02:32a bit of a decline in the markets, which clearly shows that Trump's reciprocal tariffs are going
02:39to impact global markets, Pooja. But for now, China coming out with a very strong statement.
02:44We'll have to wait and see what those decisions by Beijing are going to look like in terms of
02:50responding to these reciprocal tariffs. But more importantly, there are other countries that are
02:55also coming out. The European Union has been very strongly advocating against a trade war with EU
03:03and also reminding the US that this certainly is going to impact not just European Union markets,
03:10but is also American markets. So again, we'll have to wait and see what they're really going
03:15to do. The world of geopolitics in many ways as well, Geeta. Yes, like you're telling us,
03:19because the countries will look at not just this as a trade war, but more as who are the
03:24alliance partners who have got the real relief.