Skip to content
August 27, 2025
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
MILLENNIUM NEWS 24/7

MILLENNIUM NEWS 24/7

Bridging The Community’s World Wide

  • Home
  • IP TV LIVE
  • PODCAST
  • U.S.News
  • LOCAL ELECTION
  • State News
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Maine
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Virginia
    • Washington
    • West Virginia
    • U.S. Virgin Islands
  • Politics
  • World News
  • Sports
  • Entertainment
  • Weather
  • Business
  • Health News
  • ADVERTISEMENT
  • About Us
  • Contact us
Live TV

US ‘reciprocal’ tariffs against dozens of nations draw dismay, calls for negotiations

BANGKOK — Sweeping new tariffs announced Wednesday by U.S. President Donald Trump provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer.

But responses were measured, highlighting a lack of appetite among key trading partners for an outright trade war with the world’s biggest economy.

Trump said the import taxes, ranging from 10% to 49%, would do to U.S. trading partners what they have long done to the U.S. He maintains they will draw factories and jobs back to the United States.

“Taxpayers have been ripped off for more than 50 years,” he said. “But it is not going to happen anymore.”

Trump’s announcement of a new 20% tariff on the European Union drew a sharp rebuke from European Commission President Ursula von der Leyen, who said it was a “major blow to the world economy.”

“The consequences will be dire for millions of people around the globe,” von der Leyen said. Groceries, transport and medicines will cost more, she said while visiting Uzbekistan, “And this is hurting, in particular, the most vulnerable citizens.”

Von der Leyen acknowledged that the world trading system has “serious deficiencies” and said the EU was ready to negotiate with the U.S. but also was prepared to respond with countermeasures.

‘Nobody wants a trade war’

The British government said the United States remains the U.K.’s “closest ally,” and Business Secretary Jonathan Reynolds said the U.K. hoped to strike a trade deal to “mitigate the impact” of the 10% tariffs on British goods.

“Nobody wants a trade war and our intention remains to secure a deal,” said Reynolds. “But nothing is off the table and the government will do everything necessary to defend the U.K.’s national interest.”

Japan, America’s closest ally in Asia, plans to closely analyze the U.S. tariffs and their impact, Chief Cabinet Secretary Yoshimasa Hayashi said, while refraining from .talk of retaliation. But he said the moves would have a big impact on relations with the U.S. Italy’s conservative Premier Giorgia Meloni said the higher tariffs would benefit neither side.

“We will do everything we can to work towards an agreement with the United States, with the aim of avoiding a trade war that would inevitably weaken the West in favor of other global players,” Meloni said in a Facebook post.

Brazil, hit with a 10% tariff, said it was considering appealing to the World Trade Organization. Its congress unanimously passed a bill to allow retaliation for any tariffs on Brazilian goods.

‘Blow to the world economy’

Financial markets were jolted, with U.S. stock futures down by as much as 3% early Thursday and a 3.1% drop in Tokyo’s benchmark leading losses in Asia. Oil prices briefly sank more than $2 a barrel.

“The magnitude of the rollout — both in scale and speed — wasn’t just aggressive; it was a full-throttle macro disruption,” Stephen Innes of SPI Asset Management said in a commentary.

While the longer-term ramifications could encompass a dismantling of supply chains built up over decades, a more immediate concern is the higher risk of recession.

“The (average) U.S. tariff rate on all imports is now around 22%, from 2.5% in 2024. That rate was last seen around 1910,” Olu Sonola, Fitch Ratings’ head of U.S. Economic Research, said in a report.

“This is a game changer, not only for the U.S. economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door, if this tariff rate stays on for an extended period of time,” Sonola said.

The burden falls heaviest on Asia-Pacific nations, with the highest tariffs for impoverished, financially precarious countries like Laos at a 48% tariff, Cambodia at 49% and Myanmar at 44%.

About Author

Habib Habib

See author's posts

Post navigation

Previous Thousands of workers at nation’s health agencies brace for mass layoffs
Next Measuring the cost of extending Trump’s tax cuts becomes a flashpoint in Congress

Related Stories

Local DC cases are landing in federal courts. A judge says the results are problematic

Local DC cases are landing in federal courts. A judge says the results are problematic

Court throws out lawsuit by Trump administration against all Maryland federal judges

Court throws out lawsuit by Trump administration against all Maryland federal judges

Australia accuses Iran of organizing antisemitic attacks and expels ambassador

Australia accuses Iran of organizing antisemitic attacks and expels ambassador

Entertainment

Lil Nas X charged with attacking police officers as he walked naked on Los Angeles street 1

Lil Nas X charged with attacking police officers as he walked naked on Los Angeles street

Pennsylvania’s Chautauqua is a summertime haven for lifelong learners 2

Pennsylvania’s Chautauqua is a summertime haven for lifelong learners

Mariah the Scientist’s ‘Hearts Sold Separately’ mixes love potions and pensive emotions 3

Mariah the Scientist’s ‘Hearts Sold Separately’ mixes love potions and pensive emotions

At the Pennsylvania Chautauqua, the ‘good use of leisure time’ is an art form 4

At the Pennsylvania Chautauqua, the ‘good use of leisure time’ is an art form

Brent Hinds, former Mastodon singer-guitarist, dies at 51 in motorcycle crash 5

Brent Hinds, former Mastodon singer-guitarist, dies at 51 in motorcycle crash

Frank Caprio, Rhode Island judge who drew a huge online audience with his compassion, dies at 88 6

Frank Caprio, Rhode Island judge who drew a huge online audience with his compassion, dies at 88

The story behind Devo’s ‘Whip It’ and their misunderstood legacy 7

The story behind Devo’s ‘Whip It’ and their misunderstood legacy

Top News

Local DC cases are landing in federal courts. A judge says the results are problematic

Local DC cases are landing in federal courts. A judge says the results are problematic

Court throws out lawsuit by Trump administration against all Maryland federal judges

Court throws out lawsuit by Trump administration against all Maryland federal judges

Australia accuses Iran of organizing antisemitic attacks and expels ambassador

Australia accuses Iran of organizing antisemitic attacks and expels ambassador

Trump honors fallen US service members and criticizes Biden to mark Afghanistan bombing anniversary

Trump honors fallen US service members and criticizes Biden to mark Afghanistan bombing anniversary

  • Home
  • About Us
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
Editor: Nur M Tofader, Home Office: 250 Park Avenue, 7th Floor, New York, NY 10177 Tell: 718 893 0002 (Office), 7188441300, +1212 401 6266, e-mail: Info@millenniuamtv24.com, e-mail: Info@millenniuamnews24.com, Copyright © Millennium News 24/7 | DarkNews by AF themes.