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As China and the USA spar, countries brainstorm over how to cope with the trade war
The Statesman Bhubaneswar
|April 09, 2025
US President Donald Trump and China sparred over tariff hikes and other retaliatory moves on Tuesday, as governments elsewhere were brainstorming strategies to cope with the trade war between the global economic giants.
While world markets calmed somewhat after frenzied selling over two trading sessions that wiped out trillions of dollars worth of wealth, leaders in Asia shifted into damage control mode.
Japanese Prime Minister Shigeru Ishiba spoke with Trump late Monday and then convened a task force Tuesday to mitigate damage from the 24 per cent American tariffs imposed on Washington's biggest ally in Asia. Economic Revitalisation Minister Ryosei Akazawa was appointed lead trade negotiator and senior officials were dispatched to Washington to follow up on the Ishiba's talk with Trump. Ishiba told his ministers to do their utmost to get Trump to reconsider and also to mitigate the impact from the US "reciprocal" tariffs, which he said would be a blow to all industries, Chief Cabinet Secretary Yoshimasa Hayashi told reporters.
This story is from the April 09, 2025 edition of The Statesman Bhubaneswar.
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