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Marketplace All-in-One

The world reacts to President Trump’s tariffs

Marketplace All-in-One

Marketplace

News, Business

4.81.3K Ratings

🗓️ 3 April 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

From the BBC World Service: With tariffs imposed by the U.S. on economies across the globe, we’re gathering reactions from some of the countries affected. China is vowing to fight back while Europe is collectively mulling over how to respond. Some of the world’s poorest countries will be hit hardest — Cambodia and Laos among them. But there could also be opportunities as trading strategies shift and new partnerships emerge.

Transcript

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0:00.0

The world reacts to President Trump's trade tariff announcements.

0:05.3

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

0:09.1

I'm Stuart Clarkson in Fort Leanna Byrne.

0:11.4

Good morning.

0:12.4

We're taking you on a trip around the globe over the next few minutes with our BBC correspondents to get reaction to the announcement on tariffs,

0:18.9

which Mr Trump says will tackle an imbalance in trade.

0:22.3

We'll head to Europe shortly, but let's start in Asia. The BBC's Mariko Oye is in Singapore for

0:27.3

Marketplace. Hi, Mariko. Hello. So talk us through the impact of these announcements.

0:32.4

Well, it seems like Asian countries were some of the hardest hit. Of course, China now facing 54% tariffs.

0:40.6

Also, the U.S.'s key allies like Japan and South Korea, they've been hit quite hard as well.

0:47.0

Japan facing 24% tariffs, South Korea, 25%. And other smaller Asian economies like Vietnam and Cambodia also hit by

0:57.6

almost 50% tariffs. And it's quite interesting how they have been responding to it. China has

1:04.1

expressed a strong opposition to it, while Tokyo has also expressed regret. It is the strongest

1:10.0

term that the Japanese government

1:11.3

uses to express their concerns about something. The South Korean government has been holding an

1:16.4

emergency meeting discussing how to support businesses which have been affected by all these

1:21.6

tariffs. And obviously in the Asian markets, so many tech companies producing components

1:27.1

for American products. So this is going

1:28.9

have a big impact on consumers of tech products around the world, isn't it? Yes, absolutely. I think

1:33.5

tariffs on Taiwan was something that many analysts thought were a lot higher than expected almost 40%. And as

1:41.6

you said, Taiwan produces a lot of chips, you know, various components that go into

1:47.5

things like smartphones and computers and so on. So that is going to really disrupt the global

...

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