Sweeping Trump tariffs shock global economy, drawing threats and calls for talks

By Elaine Kurtenbach and David Mchugh

U.S. President Donald Trump’s sweeping new tariffs on American imports shocked governments and investors around the world, swiftly spurring both threats of retaliation and calls for negotiation as industries scrambled and global stocks tumbled.

China accused the U.S. of “bullying” and the European Union said it was ready to mount “robust” countermeasures, with French officials suggesting taxes to hit U.S. tech giants.

Yet others, like the United Kingdom and Japan, expressed hope for a deal with Trump and refrained from talk of retaliation against the world’s biggest economy, fearing that slapping their own tariffs on American goods will only make things worse.

Trump said Wednesday that the import taxes, ranging from 10% to 49%, would do to U.S. trading partners what they have long done to the U.S. He maintains the tariffs will draw factories and jobs back home.

“Taxpayers have been ripped off for more than 50 years,”