00:00Negotiate or retaliate?
00:06Countries around the world are responding to U.S. President Donald Trump's sweeping
00:09tariffs, set to strike some of the country's biggest trading partners on Tuesday, with
00:15southern neighbor Mexico both promising retaliation and urging Trump to come to the negotiating
00:21table.
00:22And to the north, Prime Minister Justin Trudeau has announced Canada's own two-stage 25 percent
00:45tariff plan on $107 billion worth of American goods, matching the taxes Trump levied
00:52on Canada and Mexico.
00:54And speaking directly to the American people, Trudeau warned that it's citizens who will
00:59pay the price for a trade war.
01:17Across the Atlantic, European leaders are meeting in Brussels, in anticipation of their
01:22own round of tariffs, which Trump has said will definitely happen, with the European
01:27Commission saying they'll respond firmly to any unfair action.
01:31The UK, however, could be spared if, Trump says, a deal is struck.
01:37And, as the U.S. dollar soars, stock markets across Europe and Asia, including in Taiwan,
02:03tumbled on Monday as investors digested the impact of the tariffs.
02:08And while China says they plan to file a lawsuit with the World Trade Organization over Trump's
02:1310 percent tariffs on their imports, a report from the Wall Street Journal says that Beijing
02:18has plans to propose restoring the unused Phase 1 trade agreement from 2020, a deal
02:24that required China to increase purchases of American products by 200 billion U.S. dollars
02:31over a two-year period.
02:33Taipei, meanwhile, has said it will offer support to Taiwanese businesses affected by
02:37Trump's tariffs to relocate to the United States.
02:41Taiwan's tech companies are particularly vulnerable, as many have factories in both Mexico and
02:47China.
02:48Amid foggy details and the threat of further tariffs, economists are warning that the global
02:53economy is facing a lot of uncertainty.
03:24Despite admitting that U.S. citizens will feel the financial pinch in the short term,
03:28Donald Trump remains firm on his America First policy, even if that means frustrating some
03:34of the U.S.'s closest political and economic allies, and risks plunging the world into
03:40a global trade war of unprecedented scale.
03:44James Lynn, Rosie Grenager, and Rhys Ayres for Taiwan Plus.
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