Trump tariffs threaten global trade, US-EU relations: German residents

U.S. President Donald Trump's imposition of tariffs is a protectionist move that poses a threat to global trade and undermines relations between the United States and the European Union, said German residents.

Trump on Wednesday signed an executive order on the so-called "reciprocal tariffs", imposing a 10-percent "minimum baseline tariff" on all trading partners and higher rates on certain countries and products.

The order took effect Saturday, leaving all imports to the U.S. subject to 10 percent additional tariffs, except as otherwise provided.

Trump will also impose an "individualized reciprocal higher tariff" on the countries and regions with which the United States "has the largest trade deficits", according to a White House document. This will take effect on April 9.

"I don't think this will have any positive impact on world trade. On the contrary, I think the world trade will suffer a huge loss. Now we can see that the stock market has fallen. We are wondering what Trump wants to achieve by this move. I share a similar view with Many people I know share the similar view: what is happening in the United States can no longer be described through reason," said a woman.

"The U.S. imposition of tariffs is protectionism. It is isolating itself and wants to produce and sell everything itself. I don't think this approach will succeed and the whole process will ultimately backfire," said a man.

Since Trump took office as the president again in January this year, the United States has applied much pressure on the EU, diverging greatly from the latter on the Ukraine issue and imposing additional tariffs on its European partners.

"I think it will affect the relationship between the U.S. and the EU. In particular, the interests of European countries such as Germany are being seriously damaged. I think our costs of living will become more expensive overall, and the long-standing friendship we have with the United States after the World War II is facing serious danger," said the man.

Trump tariffs threaten global trade, US-EU relations: German residents

Trump tariffs threaten global trade, US-EU relations: German residents

Trump tariffs threaten global trade, US-EU relations: German residents

Japan's economy faces major shocks after the United States imposed its "reciprocal tariffs" policy, according to a Japanese expert.

The U.S. has imposed a 25 percent tariff on imported cars and introduced an additional 24 percent reciprocal tariff on Japanese products starting Wednesday. These measures have raised concerns about potential systemic risks to the global economy.

In an interview with China Central Television Network (CCTV), Nobuhiko Hibara, an associate professor from Waseda University's business school, highlighted the severe impacts of the U.S. trade protectionist measures on Japan's key industries, including automobiles.

"Japan exports about 30 to 33 percent of its cars to the United States. So, that's the part which affected the most. If Japan's automobile exports to the U.S. decrease by around 500,000 vehicles, Japan's nominal GDP is projected to contract by approximately 0.3 percent. The impact is enormous. Of course, prices will go up. Consumption will also shrink," he said.

While the United States claims to address the hollowing out of American manufacturing, it is essentially a form of trade protectionism, noted the expert.

"Even if the so-called U.S. trade deficit is reduced by the imposition of tariffs, but if the trade volume itself decreases, even reducing the trade deficit will not help. So, countries are very worried right now about the risk of an overall global economic contraction," he said.

Japan's economy faces multiple shocks from US tariffs: expert