TIME Updated: Apr 10, 2025 1:15 PM G00 ‘Nothing Is Certain but Uncertainty’: How the World Is Reacting to Trump’s Tariff Reversal - by Miranda Jeyaretnam Editorial Fellow

 TIME

Updated: Apr 10, 2025 1:15 PM G00

‘Nothing Is Certain but Uncertainty’: How the World Is Reacting to Trump’s Tariff Reversal

World

Donald Trump

Miranda Jeyaretnam

by

Miranda Jeyaretnam

Editorial Fellow

JAPAN-US-TRADE-TARIFF

An electronic board shows the Nikkei 225 index on the Tokyo Stock Exchange on April 10, 2025.Kazuhiro Nogi—AFP/Getty Images

Hours after Donald Trump’s sweeping “reciprocal” tariffs—which were announced with much fanfare last week, jolting world leaders and roiling global markets—kicked in on Wednesday, the U.S. President pulled a 180.

Trump announced a 90-day pause on countries that have not retaliated, temporarily lowering the high tariffs on nearly all trading partners to a baseline 10%, while raising the tax rate on imports from China, which had retaliated with tit-for-tat hikes on U.S. imports, to 125%.

“I thought that people were jumping a little bit out of line, they were getting yippy,” Trump told reporters on Wednesday after the reversal. Although, he added, “nothing’s over yet.”

But while Trump allies like Bill Ackman praised the move, which stoked stock gains after a week of volatility, as “textbook, Art of the Deal,” others say the abrupt climbdown has only made things more confusing. 

Here’s what to know about how countries around the world have begun responding to the whiplash.

Bangladesh

Muhammad Yunus, Bangladesh’s interim leader, thanked Trump for “responding positively to our request” for a pause. The U.S. is the biggest export market for Bangladesh, which had been hit hard by a 37% tariff. “We will continue to work with your administration in support of your trade agenda,” Yunus added.

China

Wang Wentao, China’s commerce minister, said at Thursday’s Special Association of Southeast Asian Nations (ASEAN) Economic Ministers’ meeting that China “firmly opposes” the U.S. tariffs and vowed to continue with countermeasures.

“If the United States is bent on waging a tariff war or trade war, China is ready to fight to the end,” Chinese foreign ministry spokesperson Lin Jian said at a Wednesday briefing, according to state-run newspaper People’s Daily.

Wang added that China is ready to strengthen its ties with ASEAN trading partners. Wang also reportedly spoke with E.U. Commissioner for Trade and Economic Security Maroš Šefčovič on Tuesday about the tariffs.

Lin also said at a Thursday press briefing that China “will not flinch” when a trade war comes, according to state news agency Xinhua. The Chinese government on Wednesday announced additional tariffs on the U.S., bringing the total baseline tariff rate on U.S. products up to 84%. The government also added six U.S. firms to its “unreliable entities list” and 12 U.S. firms to its “export control list.”

China has also filed a complaint against the U.S. with the World Trade Organization, according to People’s Daily.

“If the United States really seeks to resolve the issue through dialogue and negotiation, it should demonstrate an attitude of equality, respect and reciprocity,” Lin said.

Read More: Chinese State Media Rebuke Trump’s Tariffs With AI Song and Videos

European Union

President of the European Commission Ursula von der Leyen welcomed the tariff pause in a Thursday statement, calling it an “important step towards stabilising the global economy.”

Trump’s pause came hours after the European Union voted to approve retaliatory tariffs on $23 billion in goods, starting April 15, in response to Trump’s previously announced 25% tariffs on steel and aluminum—which remain in effect. The E.U. had also faced a 20% “reciprocal” tariff—which is now a baseline 10% tariff—on top of the metals tariff and a separate 25% tariff on cars and car parts.

“Tariffs are taxes that only hurt businesses and consumers,” von der Leyen added. “That’s why I’ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States.”

The E.U. will diversify its trade partnerships with countries that “share our commitment to a free and open exchange of goods, services, and ideas,” even as it continues to seek negotiations with the U.S., von der Leyen said.

Von der Leyen added that the E.U. will also focus on lifting barriers in its own single market. “This crisis has made one thing clear: in times of uncertainty, the single market is our anchor of stability and resilience,” she said.

Germany

Germany’s chancellor-in-waiting Friedrich Merz said Trump’s move is a “response to the determination of the Europeans.”

In an interview with broadcaster RTL Direkt, Merz said, “We are determined to defend ourselves,” echoing von der Leyen’s statement last week. “Unity helps,” Merz added.

Merz said a “trade conflict” would not benefit anyone. “Trump is currently seeing the problems of his tariff policy at home. The inflation rate is rising, imports are collapsing, and exports are experiencing major difficulties,” he added.

“The best thing is for us all to work together to achieve zero percent tariffs in transatlantic trade. And then the problem will be solved,” he said.

Read More: How Trump’s Tariffs Could Lead to a Global Recession

Greece

“There is a European message and then there is a Greek message,” Prime Minister Kyriakos Mitsotakis of Greece, which is a member of the E.U., told American conservative news network Breitbart on Wednesday. “On the European front there is a possibility of finding a win-win solution when it comes to trade, a solution which will be mutually beneficial.”

“As far as Greece is concerned, we have a strategic partnership with the U.S.,” he added. “I have worked with President Trump before and I can work very well with him again addressing regional challenges.”

India

An unnamed Indian government official told Reuters on Thursday that the country wants to move swiftly on a trade deal with the U.S., after Trump temporarily reduced a 27% “reciprocal” tariff on the country to 10%.

“India is one of the first nations to start talks over a deal with the United States and to have jointly agreed to a deadline to conclude it,” the official said.

Ireland

Simon Harris, the Tánaiste or second-ranking government leader of Ireland, a member of the E.U., said in a Wednesday statement that Trump’s pause “will come as a relief to many businesses in Ireland,” adding that “further engagement and clarification” is needed.

Harris’s comments came after a meeting the same day with U.S. Commerce Secretary Howard Lutnick in Washington, D.C. Prior to the meeting, Harris said in a statement that “direct bilateral engagement with the United States is one of my priorities.”

He added that the meeting demonstrated “an openness on the part of the U.S. to engage” with negotiations.

In an earlier Wednesday statement prior to the pause, Irish Taoiseach Micheál Martin said some Irish exporters had already seen U.S. orders “slowing or even drying up entirely, putting valuable and skilled jobs at risk.” Martin said he stood by the E.U.’s approach to safeguarding its interests while seeking negotiations.

Italy

Economy Minister Giancarlo Giorgetti said Italy, also a member of the E.U., welcomed Trump’s pause on tariffs. He told reporters in Rome on Wednesday: “Within the G7 all of us outside the U.S. spoke to try to calm the situation and find a way to bring the Trump administration to the table and to a reasonable position.”

Japan

Ryosei Akazawa, Japan’s Minister for Economic Revitalization who was hired this week to lead negotiations on U.S. tariffs after Japan was initially hit with a 24% “reciprocal” rate, told Bloomberg News on Thursday that the country’s “position is unchanged.”

“We continue to express our strong concerns and strongly request that they be reviewed,” he said, citing ongoing targeted tariffs on Japan’s metals and automobiles, key exports for the country.

On Wednesday, Finance Minister Katsunobu Kato ruled out using Japan’s U.S. Treasury holdings as a bargaining chip in negotiations with the U.S. Akazawa told Bloomberg that no specific dates have been set yet for a visit to Washington. U.S. Treasury Secretary Scott Bessent said he will lead talks with Japan.

Malaysia

Malaysia’s Minister of Investment, Trade and Industry posted on LinkedIn that the country welcomes Trump’s pause on higher tariffs, even as “this volatility creates significant challenges for ASEAN economies.” Malaysia had been hit with a 24% “reciprocal” U.S. tariff, and other members, including Vietnam and Thailand, of ASEAN, which Malaysia holds the rotating chairship this year, also faced significant levies, which had briefly gone into effect on Wednesday after Trump’s initial announcement last week.

“Nothing is certain but uncertainty when it comes to Trump tariffs!” Tengku Zafrul Aziz said, adding that the latest development would be discussed at Thursday’s Special ASEAN Economic Ministers’ meeting. The meeting, which was scheduled prior to the pause, was intended to deliver a coordinated ASEAN response to Trump’s trade policies.

“Malaysia is actively assessing the implications of these changes and remains dedicated to collaborating with ASEAN partners to mitigate disruptions, enhance regional economic resilience, and advocate for balanced and predictable trade relations,” Zafrul wrote. “ASEAN unity and regional economic integration will be more crucial than ever before and we welcome the support of partners that share this vision and want to see us thrive.” Malaysia will continue to diversify its trade and develop new markets as a “hedge against the current uncertainties,” he added.

The 10 ASEAN member states and Timor-Leste agreed at Thursday’s meeting not to retaliate against Trump’s tariffs, which the association said “risk eroding the foundation of fair competition and mutual benefit that multilateralism is built upon,” and added that the 90-day pause will provide “a window of opportunity to find a pragmatic and mutually advantageous solution for ASEAN in a strategic and tactful manner.”

Read More: New Southeast Asia Survey Shows Greater Trust in the U.S. Than China This Year—but There’s a Catch

Poland

Prime Minister Donald Tusk of Poland, which is an E.U. member state, posted on X on Wednesday, “let’s make the best of the next 90 days.”

“Maintaining close transatlantic relations is a common responsibility of Europeans and Americans, regardless of temporary turbulences,” Tusk added.

On Monday, Tusk had posted in Polish on X, “The reaction to the tariff war was predictable. The stock market earthquake from Japan through Europe to America must be survived without nervous decisions. The Polish stock market also got a ricochet, but political and economic stability are our assets in this difficult time. We will calmly persevere!”

South Korea

South Korean trade envoy Cheong In-kyo said Thursday that the tariff pause provides room for negotiations. Cheong met with U.S. Trade Representative Jamieson Greer on Tuesday about lowering tariff rates on South Korea.

The U.S. had imposed a 26% “reciprocal” tariff on South Korea, which is now down to the baseline 10%—although South Korea still faces blanket 25% tariffs on the auto industry, a key export.

Taiwan

Taiwanese Foreign Minister Lin Chia-lung said Trump’s pause gives the country breathing room for negotiations. Lin told reporters at parliament on Thursday that during the 90-day pause, the two countries can “discuss Taiwan-U.S. economic and trade cooperation in a more detailed and in-depth manner.”

He added that Taiwan hopes to “take advantage of the huge U.S. market … to form a Taiwan-U.S. coalition, a joint fleet approach.”

On Thursday, Taiwanese President Lai Ching-te wrote in a Bloomberg News op-ed that Taiwan is “committed to strengthening bilateral cooperation in manufacturing and innovation,” in particular by encouraging Taiwanese businesses to expand their footprint in the U.S. and “deepening commercial ties” between Taiwanese and U.S. firms.

Lai emphasized the objective of “reducing all tariffs between Taiwan and the U.S.” He said Taiwan is willing to cut its tariff rate on U.S. products from an average nominal rate of 6% to 0%. Trump had imposed a 32% “reciprocal” tariff on Taiwan based on a calculation that Taiwan imposes 64% tariffs on the U.S., though Trump’s calculation was actually based on the trade deficit.

A bulk of Taiwan’s trade surplus with the U.S. is in its export of semiconductors, which accounts for around 40% of its total exports. The U.S. previously raised the threat of tariffs on the semiconductor industry but waived them when Taiwan Semiconductor Manufacturing Company (TSMC)—the world’s largest chipmaker—pledged a $100 billion investment in the U.S. last month, after having previously already committed $65 billion in investment in April 2024 during the Biden Administration.

“All I did is say, ‘If you don’t build your plant here, you are going to pay a big tax. Twenty-five, maybe 50, maybe 75, maybe 100%,’” Trump said about his tariff threat on the Taiwanese semiconductor industry at a National Republican Congressional Committee dinner on Tuesday.

Taiwan will also increase its imports of U.S. goods, Lai wrote in his op-ed Thursday. “Over the past five years, rising demand for semiconductors and AI-related components has increased our trade surplus. In response to these market trends, Taiwan will seek to narrow the trade imbalance through the procurement of energy, agriculture and other industrial goods from the U.S.”

At the same time, Taiwan’s central bank chief Yang Chin-long warned at a Thursday parliamentary session that uncertainty remained in spite of the pause and that a U.S.-China trade war would still hurt the global economy.

U.K.

The U.K. will continue to “coolly and calmly” approach negotiations with the U.S., a spokesperson for Downing Street said Thursday.

Home Secretary Yvette Cooper told Sky News on Thursday that the government’s position “hasn’t changed.” The U.K.’s tariff rate also didn’t change with the pause, as the country previously already faced the baseline 10% “reciprocal” tariff rate that other countries have been temporarily reduced to.

“What we want to see,” Cooper said, “is a reduction in barriers to trade, so countries can trade effectively.”

Vietnam

The U.S. and Vietnam agreed to begin negotiations for a trade agreement, the Vietnamese government announced hours after Trump’s tariff pause on Wednesday. Vietnam’s Deputy Prime Minister Ho Duc Phoc said the two countries, which exchanged nearly $150 billion in goods last year, should work towards creating a framework to allow for mutual trade relations, according to the government’s official news channel.

Greer, the U.S. Trade Representative, confirmed that he met with Phoc on Wednesday to “discuss reciprocal trade and the vast economic opportunities in our bilateral relationship.” The U.S. is the biggest export market for Vietnam, which faced a 46% “reciprocal” tariff.

Vietnam had earlier offered to cut its tariff rates on U.S. goods to 0%, Trump said on Truth Social, but White House trade advisor Peter Navarro said the offer was not enough.