World eyes Trump’s next move after tariff blow

Governments around the world reacted with caution after the US Supreme Court invalidated President Donald Trump's broad emergency tariffs, with some reaffirming existing agreements and others taking a wait-and-see approach to evaluate his next steps, Bloomberg reported.

- Agencies

Donald Trump, flanked by commerce secretary Howard Lutnick (right) and solicitor general D John Sauer at the White House.

(REUTERS)

South Korean trade officials scrambled on Saturday to assess the impact of the ruling, AP reported. The emergency meeting announced by the trade ministry in Seoul came as officials from South Korea to South America and beyond acknowledged tariffs would remain on some specific exports to the US, like automobiles and steel, that aren't affected by the US court decision.

South Korea said the ruling voids the 15% “reciprocal” tariff currently applied to its goods, while adding that it would continue talks on the implementation of last year’s trade agreement.

Indonesia, which finalised its deal on Thursday locking in a 19% duty on its American exports, said it’s monitoring the court decision and Trump's subsequent move to impose a 15% global tariff.

Lawmakers in the European Union, which faced a 15% so-called reciprocal levy, will hold an emergency meeting Monday to reassess the bloc’s pending trade deal with the US. The EU Parliament's trade committee had been expected to vote Tuesday to move forward with ratification of that agreement.