The News
US President Donald Trump’s reshaping of the global economy sparked rancor, fear, and threats of retribution from some of the world’s largest economies.
A chart showing the effective US tariff rate on imports from the 19th century to 2025.
France’s president called on European companies to pause US investments, and Canada said it would match Washington’s 25% tariffs on auto imports. China and the European Union both vowed to retaliate, while Japan and India took a less antagonistic approach.
What’s perhaps most disconcerting for companies and corporations is that even those who tried to cozy up to Trump weren’t spared: “The basic barter system that has driven the Trump administration’s policies so far seems to have broken down,” Semafor’s Liz Hoffman wrote. Trump, though, said Thursday that he is open to tariff negotiations.