South Korea, India and the Indian Ocean: Why do U.S. tariffs should be waived in free-trade agreements with the United States?

U.S. President Donald Trump said last month he was considering a tariff exemption for Australia, a free trade treaty partner that has traded with the United States at a deficit for decades.

Trump was responding to an interview Turnbull gave this week to U.S. media company Bloomberg in which the former Australian leader said Chinese President Xi Jinping would take advantage of the U.S. president’s chaotic and erratic leadership.

My prediction is that the president will try to be the opposite of your president. Where Trump is chaotic, he will be consistent. Trump will be respectful if he is rude and abusive. Where Trump is erratic, he will be consistent,” Turnbull said.

“And what that will do is build trust with countries, and there’ll be many countries who will, you know, looking at China on the one hand and Trump on the other, will find China a more attractive partner,” Turnbull added.

“Tariffs and escalating trade tensions are a form of economic self-harm and a recipe for slower growth and higher inflation. Consumers pay them. This is the reason that Australia will not be imposing reciprocated tariffs on the US.

In an effort to ease tensions, South Korea has pledged to reduce its trade surplus with the U.S. by increasing energy imports and expanding shipbuilding contracts for American buyers.

South Korea, the fourth-largest exporter of steel to the U.S., has sought an exemption. Its trade ministry is talking to corporations about taking production to the U.S. or making sure their exports are diversified.

South Korea’s government declared an “emergency response mode” after the U.S. imposed 25% tariffs on all steel and aluminum imports. The move underscores the Trump administration’s focus on reducing the U.S. trade deficit.

The Brazil Steel Institute also pushed back, noting that under Trump’s first term, the U.S. and Brazil had agreed to export caps, which Brazil has honored. The group also pointed out that the U.S. runs a multi-billion-dollar trade surplus with Brazil.

Brazil has opted against immediate retaliation — for now. The Foreign Ministry is working to protect the industry as it continues talks.

India had been bracing for tariffs from the Trump administration — while also trying to stay ahead of them. But New Delhi is also concerned about the impact on its manufacturing competitiveness.

India cut tariffs on several goods in advance of Modi’s meeting with Trump in Washington.

China’s commerce ministry summoned Walmart executives to discuss reports that the U.S. retailer had told Chinese suppliers to reduce prices because of the tariffs.

Canada’s finance minister, Dominic LeBlanc, along with Ontario Premier Ford will lead a trade delegation to Washington, D.C., on Thursday to meet with the Trump administration and discuss trade matters.

Trump retaliated against tariffs on U.S. imports: The U.K., the United Kingdom, and Canada are taking a pragmatic approach

Mexico originally planned to impose retaliatory tariffs in response to the U.S. tariffs, but they were stopped prior to the April 2 deadline.

While it has imposed countermeasures in response to the tariffs that have been introduced by the U.S. since President Trump took office, Beijing has generally responded more strategically.

If Donald Trump escalates the trade conflict, Ontario’s premier Doug Ford warned that the province may cut off all electricity in the state.

This marks the latest development in a dizzying tit-for-tat trade dispute between the two nations, sparked by Trump’s 25% tariffs on most imports from Canada and Mexico, which took effect earlier this month.

An additional round of new tariffs will be put on US goods on April 13, subject to approval from EU member states. They will include levies on agricultural products. The Republican states would be targeted by some tariffs in this round.

The European Union and Canada retaliated this week with billions of dollars in tariffs. The United Kingdom, Mexico and China are some who are taking a cautious approach.

The European Union announced $28 billion in retaliatory measures on Wednesday, including levies on Kentucky bourbon, jeans and Harley-Davidson motorcycles.

The European Commission President said the EU was doing everything it could to protect consumers and business.

Trump characterized the EU as the most hostile and abusive taxing and tariffing authorities in the world. He threatened to impose a 200% tariff on European alcohol.

Unlike the EU, the U.K. has taken what British Prime Minister Keir Starmer calls a more “pragmatic” approach, opting not to retaliate against Trump’s steel and aluminum tariffs.

“But we will take a pragmatic approach. We are, as [Trump] knows, negotiating an economic deal which covers and will include tariffs if we succeed. We’ll keep all options up to date.