The global tariffs crisis intensified after the US Supreme Court ruling that invalidated a major part of President Donald Trump’s tariff program. The decision sparked immediate reactions from China, the European Union, and financial markets across Asia.
\nThe global tariffs crisis prompted renewed calls for Washington to cancel unilateral measures and honor existing trade commitments as governments worldwide assess the ruling’s impact on economic stability.<\/p>\n
China called on the United States to lift unilateral tariffs imposed during President Trump’s second term. Beijing described the Supreme Court’s six to three ruling as a turning point that requires Washington to reconsider its trade approach.
\nThe Chinese Ministry of Commerce said it was conducting a full review of the ruling’s implications and insisted that the United States remove tariff measures targeting its trading partners.
\nBeijing warned that protectionist measures threaten global markets and reiterated that it would continue to safeguard its economic interests. The new 15 percent global tariff announced by Trump is scheduled to begin Tuesday for 150 days with certain exemptions.<\/p>\n
The Chinese Foreign Ministry noted it is closely monitoring the possibility of Washington adopting alternate mechanisms to maintain higher tariffs including new investigations.
\nPresident Trump is expected to visit China in the coming weeks though US Trade Representative Jamieson Greer said the upcoming April meeting with President Xi Jinping is not intended to escalate trade disputes.<\/p>\n
The European Commission urged Washington to fully comply with last year’s joint EU-US trade agreement which caps US tariffs on European goods at 15 percent.
\nIn a statement Sunday the Commission said it expects Washington to honor its commitments and requested clarity on how the United States will proceed after the Supreme Court ruling.<\/p>\n
EU officials stressed that sudden tariff changes undermine supply chains and global market confidence.
\nEuropean Trade Commissioner Maros Sefcovic has been in continuous communication with US officials including Greer and Commerce Secretary Howard Lutnick.
\nThe president of the European Central Bank Christine Lagarde said she remains uncertain about the ruling’s full implications and hopes for clearer guidance from Washington.<\/p>\n
The European Parliament\u2019s trade committee signaled that it may suspend legislative approval of the EU-US trade pact until a legal assessment is completed.
\nCommittee chair Bernd Lange referred to the situation as tariff chaos and called for stability before moving forward.<\/p>\n
Asian stock markets posted gains Monday as investors welcomed the weakening of US tariff authority.
\nTech companies led the rally with notable increases in Hong Kong South Korea and other regional markets. Analysts said the ruling could benefit China and India which have faced tariff pressure from the United States.<\/p>\n
The dollar weakened against major currencies while oil prices fell amid hopes for progress on an Iran nuclear agreement.
\nAnalysts cautioned that although tariffs under the IEEPA authority may have been curtailed the broader US trade strategy is likely to remain aggressive through other legal pathways.<\/p>\n
\u2022 Hang Seng Index: Up 2.5%
\n\u2022 Euro\/dollar: Up at 1.1823
\n\u2022 Dollar\/yen: Down at 154.15
\n\u2022 WTI crude: Down 1.3% at 65.63 USD
\n\u2022 Brent crude: Down 1.3% at 70.86 USD<\/p>\n
The global trade landscape entered a new phase of uncertainty as the Supreme Court ruling triggered diplomatic responses from China the European Union and other partners. Markets responded cautiously while governments seek clarity on the future of US tariff policy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The global tariffs crisis intensified after the US Supreme Court ruling that invalidated a major part of President Donald Trump’s tariff program. The decision sparked immediate reactions from China, the European Union, and financial markets across Asia. The global tariffs crisis prompted renewed calls for Washington to cancel unilateral measures and honor existing trade commitments […]<\/p>\n","protected":false},"author":1,"featured_media":28923,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","override":[{"template":"7","parallax":"1","fullscreen":"1","layout":"left-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"topbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"0","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0"},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"jnews_post_split":{"post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]},"footnotes":""},"categories":[196],"tags":[],"class_list":["post-28922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy"],"_links":{"self":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts\/28922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/comments?post=28922"}],"version-history":[{"count":0,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts\/28922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/media\/28923"}],"wp:attachment":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/media?parent=28922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/categories?post=28922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/tags?post=28922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}