As global tariffs rise, here's the latest on US trade with our top partners

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Trump vs. South Korea: why Australia is not giving up on reciprocal tariffs in the first term of the U.S.

The decision not to exempt Australia was made after a public spat between Trump and a former Australian prime minister who was granted the exemption.

“Malcolm Turnbull, the former Prime Minister of Australia who was always leading that wonderful country from ‘behind’, never understood what was going on in China, nor did he have the capacity to do so,” Trump wrote on social media.

“What my prediction will be that President Xi will aim to be the exact opposite of Trump. He will be consistent when Trump is chaotic. Where Trump is rude and abusive, he’ll be respectful. “Wherever Trump is unpredictable, he will always be consistent,” said Australia’s prime minister.

Many countries will find China a more attractive partner, and that’s because it will build trust with countries, and they’ll look at China on the one hand and Trump on the other.

“Tariffs and escalating trade tensions are a form of economic self-harm and a recipe for slower growth and higher inflation. They are paid by the consumers. “This is why Australia is not going to be imposing reciprocal tariffs on the US.”

South Korea will reduce its trade surplus with the US by increasing energy imports and expanding shipbuilding contracts for American buyers in order to ease tensions.

South Korea, the fourth-largest exporter of steel to the U.S., has sought an exemption. Now, its trade ministry is advising corporations on possible countermeasures, including shifting production to the U.S. or diversifying export markets.

South Korea’s government declared an “emergency response mode” after the U.S. imposed 25% tariffs on all steel and aluminum imports. Reducing the U.S. trade deficit is one of the objectives of the Trump administration.

The Brazil Steel Institute pointed to the fact that Brazil had agreed to export caps under the first term of Trump. The group also pointed out that the U.S. runs a multi-billion-dollar trade surplus with Brazil.

Brazil has decided not to retaliate immediately. The Foreign Ministry says it will take steps to protect its steel industry and workers while continuing trade talks.

India’s government is watching the trade tensions between the US and China very closely, hoping that they will cause manufacturing to migrate from China to India.

Ahead of Prime Minister Modi’s meeting with Trump, India cut tariffs on several goods, including Harley-Davidson motorcycles, in a gesture of goodwill.

On Tuesday, China’s commerce ministry also summoned executives from Walmart to discuss reports that the U.S. retailer had instructed Chinese suppliers to reduce prices to absorb the costs of the tariffs, an issue closely monitored by Chinese authorities.

Canada’s finance minister, Dominic LeBlanc, along with Ontario Premier Ford will lead a trade delegation to Washington, D.C., on Thursday to meet with the Trump administration and discuss trade matters.

Mexican-US Trade Relations After Trump’s Action to Suppress U.S. Steel and Aluminum Imports: The Tetrad Negotiator’s View

Mexico had initially planned to impose retaliatory tariffs in response to U.S. tariffs on steel and aluminum imports, but President Claudia Sheinbaum suspended these plans ahead of the April 2 deadline.

While it has imposed countermeasures in response to the tariffs that have been introduced by the U.S. since President Trump took office, Beijing has generally responded more strategically.

Doug Ford imposed 25% tariffs on electricity exports to Minnesota, Michigan, and New York if Trump escalates the trade conflict.

This marks the latest development in a dizzying tit-for-tat trade dispute between the two nations, sparked by Trump’s 25% tariffs on most imports from Canada and Mexico, which took effect earlier this month.

These measures, which took effect early Thursday, included 25% tariffs on steel and aluminum and other goods.

With the initial shock still havinghed in, countries are taking different approaches in response, while also trying to keep pace with Trump’s unpredictable trade policies.

The EU retaliated on Wednesday with over $18 billion in measures, including a 5% import tax on beer, and a 10% excise on tobacco products.

European Commission President Ursula von der Leyen said the EU was acting to “protect consumers and business” after the Trump administration’s move to place a 25% tariff on imports of steel and aluminum.

In response, on Thursday, Trump called the EU “the most hostile and abusive taxing and tariffing authorities in the World.” He was planning to impose a big tax on alcoholic beverages.

Keir Starmer, the Prime Minister of the UK, calls the U.K.’s approach to retaliate against the steel and aluminum tariffs “pragmatic.”

We will take a pragmatic approach. We are negotiating an economic deal which will include tariffs and we will see if we succeed. But we will keep all options on the table.”