Liberation Day Is Not a One-And-Done Event; What Next?
I think it is fair to say that Trump’s so-called liberating event left many feeling not so liberated. In my opinion, this is certainly not a one-and-done occurrence, and we can expect countermeasures and further negotiations over the next couple of days.
Following Trump’s announcement, US Treasury Secretary Scott Bessent warned countries not to impose countermeasures, stating the following:
‘My advice to every country right now is do not retaliate. Sit back, take it in, let’s see how it goes. Because if you retaliate, there will be escalation’.
However, as expected, the global response from world leaders has, shall we say, been one of dissatisfaction. European Commission chief Ursula von der Leyen stated that Trump’s tariffs represent a ‘major blow’ to the global economy; Italian Prime Minister Giorgia Meloni, one of the first leaders to express her opinion, described the tariffs as ‘wrong’. The EU is reportedly preparing countermeasures, with China also setting the stage for retaliatory measures.
