US's unjustified tariffs trigger strong international backlash

The US's recent imposition of tariffs on key trading partners has triggered backlash from Canada and Germany while an economist warned of widespread economic harm.

The escalating trade tensions have raised concerns about a potential global economic downturn, supply chain disruptions and rising consumer prices.

Canadian Trade Minister Mary Ng promised that Canada would not hesitate to respond to protect its economy. 

"Should Canada get tariffs that are punishing, tariffs that will hurt our economy, everything will be on the table," Ng said in an interview with ABC on Monday. "We will respond, and we will respond with impact," Ng said.

While the latest tariffs are currently paused between the US and Canada, Canada earlier announced a 155 billion Canadian dollars ($109.3 billion) tariff package in retaliation to what it called "unjustified" US tariffs.

Meanwhile, German Bundesbank President Joachim Nagel warned that tariffs risk creating a "self-inflicted economic headwind" that could weaken not only Germany's economy but also undermine US growth prospects and disrupt global supply chains.

"The erosion of purchasing power and the surge in input costs would far outweigh any potential competitive advantages for US industries," he said at the Speaker's Luncheon of the Union International Club in Frankfurt on Monday.

Referring Trump's imposition of 25 percent tariffs on steel and aluminum, Nagel noted that this move would particularly impact Germany, posing a threat to its economic outlook. Citing projections from Germany's central bank, Nagel warned that escalating transatlantic trade tensions could lead to Germany's economic output in 2027 being 1.5 percentage points lower than expected. 

He also cautioned that inflation could rise, although the exact impact remains uncertain.

American Nobel Prize-winning economist Joseph Stiglitz warned that the tariffs would likely lead to higher prices for consumers and exacerbate global economic uncertainty, including potential stagflation.

In an interview with The Guardian on Monday, Stiglitz noted, "Almost all economists agree that the tariffs will increase prices ... the appreciation of the exchange rate won't be anywhere near enough to compensate for the tariffs."

Stiglitz also expressed concern about the broader impact of US trade policies under the current administration, saying "I cannot see a really robust economy, because I just see the global economy suffering so much from the uncertainty that Trump poses." 

US President Donald Trump on Tuesday hinted at further tariffs on automobile, pharmaceuticals and semiconductor imports, with more details to be announced in early April.

(With input from Xinhua)