U.S. President Donald Trump has threatened India with even higher tariffs, citing its continued imports of Russian oil. The announcement rattled Indian markets, with government bond yields climbing slightly ahead of the Reserve Bank of India's key policy decision.
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Japan’s top negotiator, Ryosei Akazawa, will visit Washington to push the U.S. to sign an executive order enforcing the agreed 15% tariff on Japanese automobiles, which lowers previous levies of up to 27.5%. The absence of a formal signed agreement has drawn criticism from Japanese opposition parties.
Meanwhile, South Korea is working on measures to support companies affected by the new U.S. tariffs, including financial backing for technology development. Despite reaching a last-minute deal to set tariffs at 15% on Korean exports, several issues remain unresolved, raising concerns ahead of a summit between Trump and South Korea’s new President Lee Jae Myung.
Elsewhere, Brazil has decided not to retaliate immediately against the U.S. tariffs of up to 50% that took effect this week. Instead, Brazilian officials are focusing on relief measures for industries most impacted by the steep levies, such as public credit lines and export financing support. Sources indicated that wide-ranging exemptions in Trump’s executive order spared some key Brazilian sectors, prompting a cautious approach in Brasilia.
In Canada, ministers plan to visit Mexico to discuss strategies for managing U.S. tariff impacts on North American trade, reflecting growing concern among America’s partners over escalating trade tensions.
Meanwhile, German officials have urged the European Union to strengthen its collective position in tariff negotiations with the U.S., highlighting fears that individual countries could be picked off in bilateral deals.
Together, these moves underscore global unease as Trump’s aggressive tariff strategy disrupts trade flows and forces major economies to reassess their economic and diplomatic responses.
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