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2025-08-02 10:56:00
The global trade system is in turmoil. Have Trump's new tariffs triggered a strong backlash from many countries? ⑴ On July 31st, US President Trump signed an executive order announcing new tariff rates for 69 trading partners. ⑵ These new tariffs, which will take effect on August 7th, immediately sparked opposition and concern from many governments. ⑶ German Chancellor Merz stated that the current tariff agreement is causing "pain" for European industry. ⑷ He emphasized that the EU is reluctant to provoke a full-scale trade dispute, as this would only result in everyone being a loser. ⑸ The Swiss President expressed shock at the 39% tariff rate, noting that it overturned the previous trade agreement reached between the two countries. ⑹ The new tariff policy not only impacts Swiss manufacturing but could also have a knock-on effect on the global economy. ⑺ Brazilian Finance Minister Ada stated that despite exemptions for some products, many unreasonable tariffs remain. ⑻ Brazil will initiate trade negotiations and, if unsuccessful, will appeal to international organizations such as the WTO. ⑼ South African President Ramaphosa also promised to safeguard national interests through all diplomatic efforts and continue negotiations on the 30% tariff issue.
