'Major economic blow': EU and world leaders react to Trump's tariffs

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'Major economic blow': EU and world leaders react to Trump's tariffs  US President Donald Trump’s announcement of a new 20% tariff on the European Union drew a sharp rebuke from European Commission President Ursula von der Leyen.  READ MORE : http://www.euronews.com/2025/04/03/ursula-von-der-leyen-says-trumps-tariffs-are-major-blow-to-world-economy  Subscribe to our channel. Euronews is available on Dailymotion in 12 languages

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00:00World leaders have been reacting to US President Donald Trump's announcement of a 10% baseline

00:07tariff on all countries, with Australia threatening to use dispute resolution powers in its free

00:13trade agreement with the United States.

00:17We will continue to make the strongest case for these unjustified tariffs to be removed

00:22from our exporters. Our existing free trade agreement with the United States contains

00:27dispute resolution mechanisms.

00:31China, which was hit with an extra 34% tariff, has said it will resolutely adopt counter

00:38measures to safeguard its rights and interests, claiming Trump's so-called reciprocal tariffs

00:43violate international trade rules and amount to unilateral bullying.

00:49Japan too has called the tariffs extremely regrettable, with officials arguing Japan

00:55deserves an exemption considering the additional 24% levies already imposed on their country.

01:02And in South Korea, which was hit with a 25% rate, the stock market opened lower amid concerns

01:09over the tariff announcement.

01:12Although Canada and Mexico were exempt from this particular round, Canadian Prime Minister

01:17Mark Carney said Ottawa will respond, as the current 25% levies on steel and aluminium

01:24imposed on both nations remain in place.

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