Trade war: ‘Major success' or ‘factless turbulence'? Here's how nations reacted to Trump's new tariffs

Time of India

01-08-2025

A sweeping new wave of tariffs imposed by US President Donald Trump has triggered a flurry of responses from trading partners around the globe.
Friday's announcement unveiled new or sharply increased tariffs on dozens of countries, with rates ranging from a baseline tariff of 10% to as high as 41%.
The sweeping move has prompted a wide range of responses, as each nation scrambles to protect its economic interests.
The newly announced tariffs would be taking place from August 7.
Here's how some have responded:
A "major success" for Thailand
Thailand described the outcome of its talks with Washington as a diplomatic victory, welcoming a 19% tariff rate instead of the originally threatened 36%.
'This finalised deal, setting US import tariffs at 19%, marks a major success for Thailand,' government spokesman Jirayu Huangsab said in a statement.
'It represents a win-win approach aimed at preserving Thailand's export base and long-term economic stability.'
The US goods trade deficit with Thailand rose to $45.6 billion in 2024, up 11.7% from the previous year. The southeast Asian nation has faced economic headwinds since the pandemic and recently downgraded its 2025 growth forecast to between 2.3% and 3.3%.
The tariff deal came on the heels of Trump's diplomatic involvement in brokering a ceasefire between Thailand and Cambodia after five days of border clashes that killed over 40 people and displaced 300,000.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
The Top 25 Most Beautiful Women In The World
Articles Vally
Undo
Cambodia gets 'the best news'
Cambodian Prime Minister Hun Manet welcomed the 19% tariff deal with the US, which averted the harsher 36% levy initially planned.
'This is the best news for the people and economy of Cambodia to continue to develop the country,' he wrote on Facebook.
The development follows days of deadly border conflict with Thailand, which was halted after US diplomatic intervention earlier in the week.
Taiwan hopes for more cuts
Taiwan vowed to continue negotiations with Washington after Trump imposed a "temporary" 20% levy on its exports, which could have been as high as 32%.
"The US has announced a temporary 20% tariff for Taiwan, with the possibility of further reductions should an agreement be reached," President Lai Ching-te said on Facebook.
"The government will continue to strive for a reasonable tariff rate and complete the final stages of the tariff negotiations."
Semiconductor powerhouse Taiwan has seen soaring demand for its AI-related chips, which make up the bulk of its trade surplus with the US.
Nearly 60% of its exports to the US are information and communications technology products.
In an effort to soften the blow, Taipei pledged increased investment in the US, more energy imports from American producers, and higher defence spending.
Taiwan's Vice President Hsiao Bi-khim emphasised the mutual value in maintaining strong US-Taiwan trade relations.
'The United States is indeed a very important trade partner for Taiwan,' Hsiao said.
America also needs Taiwan in supporting resilient supply chains, in supporting manufacturing and some high-end technologies.
Canada slams tariffs as 'tact-less turbulence'
Canada sharply criticised the US move to hike tariffs from 25% to 35%. The decision, laid out in a White House fact sheet citing 'Canada's continued inaction and retaliation,' will take effect from August 1, CNN reported.
Candace Laing, President and CEO of Canada's Chamber of Commerce, launched a sharp attack on increased tariffs.
'The White House fact sheet should be called a fact-less sheet when it comes to basing trade decisions about Canada on the fentanyl emergency,' she said.
'More fact-less tariff turbulence does not advance North American economic security. Businesses — in Canada and the US— urgently need certainty.'
Laing further praised Canadian PM Mark Carney for refusing to be rushed into a deal, calling his approach 'strong' and 'future-focused.'
More countries, like Syria, Switzerland, Laos are expected to respond as the new deadline of August 7 looms.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025