Summarize this content to 2000 words in 6 paragraphs World leaders across the globe are reacting to President Donald Trump’s “Liberation Day” tariff announcements, with some expressing disappointment and others making threats. On Wednesday, the president announced a baseline tariff of 10% on imports, in addition to reciprocal tariffs based on what each nation imposes on U.S. goods.Trump believes these tariffs will incentivize foreign investment in the U.S. and spur domestic job growth.While several U.S. allies articulated their frustration with the tariffs, they also expressed a lack of interest in launching trade wars. Many called for negotiations with the U.S. for new trade agreements. TREASURY SECRETARY BESSENT TELLS COUNTRIES NOT TO RETALIATE AFTER SWEEPING ‘LIBERATION DAY’ TARIFFSEuropean Commission President Ursula von der Leyen called the tariffs a “major blow to the world economy.” Von der Leyen said in a statement that there would be “countermeasures,” though she did not specify what they would entail.Meanwhile, China’s Foreign Ministry said that “there are no winners in trade wars and tariff wars,” according to the Associated Press (AP). Additionally, according to Reuters, Beijing is also planning to take “countermeasures.” Trump has taken an especially tough approach to China, which was already hit with a 20% tariff earlier this year. China will now face a 34% reciprocal tariff in addition to the 10% baseline imposed on all listed nations. FRANCE ASKS US TO BE ‘COOPERATIVE’ INSTEAD OF ‘CONFRONTATIONAL’ FOLLOWING TRUMP’S ‘LIBERATION DAY’ TARIFFSJapanese Prime Minister Shigeru Ishiba said the tariffs would have a “great impact” on U.S.-Japan relations and the global economy, according to the AP. He vowed that the Japanese government would work to “decisively protect people’s lives, jobs and industries.”Despite being subject to one of the lowest reciprocal tariffs at just 10%, Australian Prime Minister Anthony Albanese said his country would negotiate with the Trump administration to remove the tariffs.”We will not join a race to the bottom that leads to higher prices and slower growth,” Albanese said, according to Reuters.Canada and Mexico are exempt from the reciprocal tariffs for now, but they face a 25% tariff on goods, with Canada also being slapped with a 10% energy tariff. While Canadian Prime Minister Mark Carney vowed to “fight these tariffs with countermeasures,” Mexican President Claudia Sheinbaum said her country would announce a “comprehensive program” on Thursday, according to Reuters. When speaking to reporters, U.K. Prime Minister Keir Starmer did not criticize Trump, rather he said that the U.S. president was acting on “his mandate.” However, he also said that “nothing is off the table.” The prime minister assured that his government is working to make “an economic prosperity deal” with the U.SIsraeli Prime Minister Benjamin Netanyahu announced on Tuesday that his country would preemptively lift all tariffs on U.S. goods. However, Trump still announced a 17% reciprocal tariff on Israel. Israeli Finance Minister Bezalel Smotrich said his office was “analyzing the implications for the economy.” Smotrich also said that he would meet with the Finance Ministry to discuss possible responses.
