00:00World leaders have been reacting to US President Donald Trump's announcement of a 10% baseline
00:07tariff on all countries, with Australia threatening to use dispute resolution powers in its free
00:13trade agreement with the United States.
00:17We will continue to make the strongest case for these unjustified tariffs to be removed
00:22from our exporters. Our existing free trade agreement with the United States contains
00:27dispute resolution mechanisms.
00:31China, which was hit with an extra 34% tariff, has said it will resolutely adopt counter
00:38measures to safeguard its rights and interests, claiming Trump's so-called reciprocal tariffs
00:43violate international trade rules and amount to unilateral bullying.
00:49Japan too has called the tariffs extremely regrettable, with officials arguing Japan
00:55deserves an exemption considering the additional 24% levies already imposed on their country.
01:02And in South Korea, which was hit with a 25% rate, the stock market opened lower amid concerns
01:09over the tariff announcement.
01:12Although Canada and Mexico were exempt from this particular round, Canadian Prime Minister
01:17Mark Carney said Ottawa will respond, as the current 25% levies on steel and aluminium
01:24imposed on both nations remain in place.
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