World leaders ripped President Donald Trump’s Liberation Day tariff announcement in a myriad of fiery responses on Wednesday as U.S. Treasury Secretary Scott Bessent urged them to “take a deep breath” and to not “immediately retaliate.”
Bessent, in an interview with CNN’s Kaitlan Collins, called for countries hit by tariff hikes to “see where this goes” and warned that retaliation could result in full “escalation.”
Bessent wagered that America as the “deficit country” has an “advantage” over “surplus countries,” and he cautioned that doing anything “rash” in response would be “unwise.” He added, “The surplus countries traditionally always lose any kind of a trade escalation.”
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However, world leaders and international markets seemed unconvinced by Bessent’s attempts to assuage trade war fears as stock market futures tumbled around the world on the heels of the announcement.
Canada’s Prime Minister Mark Carney commended Trump for preserving “a number of important elements” in the U.S.-Canada trade relationship by not adding to the 25 percent tariffs he imposed on Canadian goods. However, “the fentanyl tariffs still remain in place, as do the tariffs for steel and aluminum,” said Carney, warning that Canada plans to “fight these tariffs with countermeasures.”
He added, “We are going to protect our workers, and we are going to build the strongest economy in the G7.”
Australian Prime Minister Anthony Albanese declared that he would not be pulled into a trade tit-for-tat with Trump.
“It is the American people who will pay the biggest price for these unjustified tariffs. This is why our government will not be seeking to impose reciprocal tariffs,” said Albanese, reported Reuters. “We will not join a race to the bottom that leads to higher prices and slower growth.”
Donning his best game show host impression, Trump unveiled plans to impose a 10 percent baseline tariff on all U.S. imports—in addition to levying as much as 49 percent in reciprocal tariff rates on 180 countries that “treat us badly,” the Republican president claimed.
Other world leaders lamented Trump’s trade escalation and pledged to defend their county’s interests, reported the Associated Press.
“The decision by the U.S. tonight to impose 20% tariffs on imports from across the European Union is deeply regrettable, said Irish Prime Minister Michael Martin. “I strongly believe that tariffs benefit no one. My priority, and that of the government, is to protect Irish jobs and the Irish economy.”
Colombian Foreign Minister Laura Sarabia added that its leaders are “looking at the measures” to protect “national industry and our exporters.”
Manfred Weber, president of the largest party in the European Parliament, attacked Trump’s “Liberation Day” declaration as anything but.
“To our American friends, today isn’t liberation day - it’s resentment day. Donald Trump’s tariffs don’t defend fair trade; they attack it out of fear and hurt both sides of the Atlantic,” said Weber. “Europe stands united, ready to defend its interests, and open to fair, firm talks.”
Other nations struck a more neutral tone in their responses.
Swedish Prime Minister Ulf Kristersson urged, “We don’t want growing trade barriers.” He pledged that the country wants to “find our way back to a path of trade and cooperation together with the US, so that people in our countries can enjoy a better life.”
Swiss President Karin Keller-Sutter echoed a similar sentiment, declaring that Switzerland’s “long-term economic interests are paramount,” adding that adherence to international law and free trade remain its “core values.”
Italian Prime Minister and Trump ally Giorgia Meloni also pledged that the country would do “everything we can” to avoid a trade war that would “inevitably weaken the West in favor of other global players,” reported Reuters.
