China, Japan, and South Korea, three nations with a long history of political and economic rivalry, have found common ground in a move to counter the US’ proposed tariffs. Chinese state media first announced that the trio had “reached a consensus” and would “jointly respond to the US tariffs.”
The impetus for this alliance stems from growing fears that new, sweeping tariffs on imported goods could stifle key Asian exports. Trade specialists and financial analysts alike have been warning that such moves by Washington could trigger retaliation, push long-standing allies to pursue alternative partnerships, and potentially reshape global trade.
In addition to the unprecedented East Asian cooperation, the EU has also indicated it may consider punitive measures. Rumors ranged from a “full shutdown” of its market to US goods to more calculated, targeted tariffs on specific American products such as whiskey and jeans.
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Earlier in March, the EU’s decision to impose a 50% tariff on whisky prompted a swift reaction from President Donald Trump, who described the bloc as “one of the most hostile and abusive taxing and tariffing authorities in the World.”
“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES,” Trump warned.
This comes on top of the tariff threat invoked on EU’s energy products. The EU has already emerged as the largest consumer of US oil and gas, driven by the bloc’s shift away from Russian energy following the 2022 invasion of Ukraine. According to US government data, Europe now accounts for over half of US crude exports—more than 2 million barrels per day—and 66% of US liquefied natural gas shipments.
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