U.S. President Donald Trump's move to impose sweeping tariffs on imports sparked threats of retaliation, as companies and governments rushed to count the costs from an escalating trade war.
German Chancellor Olaf Scholz said Trump was ‘treading a path that will only end up with losers,’ French Prime Minister François Bayrou called the decision a ‘catastrophe’, while the UK’s Keir Starmer said his country had ‘a range of levers at our disposal’. Australian Prime Minister Anthony Albenese gently chided Trump’s decision to put trade barriers on the tiny Norfolk Island, an Australian territory that does next to no trade with the U.S.
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