Global Trade War Escalation Looms Large

Published on 4.17.25

  The ongoing global trade war sparked by US President Donald Trump's tariff policy has sent shockwaves across the world, prompting leaders to re-evaluate their trade relationships and strategies. UK Prime Minister Sir Keir Starmer is at the forefront of this effort, urging world leaders to cut trade barriers in response to the crisis. In a series of diplomatic calls, Starmer discussed the issue with Italian Prime Minister Giorgia Meloni and Australian leader Anthony Albanese, agreeing that an all-out trade war would be detrimental to global economic stability. The UK Prime Minister is expected to continue his efforts over the weekend, appealing to European leaders to refrain from retaliating with tit-for-tat tariffs. China has taken a more assertive stance, adding 27 firms to its list of companies subject to trade sanctions and filing a lawsuit with the World Trade Organization against US tariffs. Vietnam's Pham Thu Hang expressed concerns that the 46% tariffs imposed by the US will harm bilateral trade relations between the two countries. Italian Prime Minister Giorgia Meloni and Irish Taoiseach Micheal Martin have called for a united front in maintaining good trade relationships with the US, citing the significant impact of new duties on Italian producers and Ireland's substantial export ties with the US.

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