April 3 (Reuters) - President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, a move that could escalate a trade war and upend the global economy.

Trading partners are expected to respond with countermeasures that could lead to dramatically higher prices for everything from bicycles to wine.

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Trump has already imposed 25% levies on autos and car parts.

Here are latest reactions from company executives, trade and labour associations:

COMPANIES

STELLANTIS (STLAM.MI) , opens new tab

The carmaker said it would temporarily pause production at some of its Canadian and Mexican assembly plants, such as its Windsor assembly plant in Canada.

ANTONIO BARAVALLE, CEO, LAVAZZA

"We had already planned to increase (local production in the U.S.) to 100%."

"We are ready to go ... but now there is this other element that is to be investigated, the duties for Brasil ... If they put a 10% duty on Brazil, the duty (of 20%) is somehow already halved."

The coffee maker currently produces around 50% of what it sells in the U.S. locally.

FERRARI (RACE.MI) , opens new tab

"Purchase contracts for Ferraris have clear and standard clauses allowing the company to adjust prices in case trade conditions change before the vehicle's delivery."

New tariffs will also apply to Ferrari cars ordered months ago but not yet delivered to the U.S., a company spokesperson said.

MOTOFUMI SHITARA, CEO, YAMAHA MOTOR (7272.T) , opens new tab

"Our exports would certainly be impacted. If these tariffs continue long-term, including for vehicles, we will need to respond by raising prices or reducing costs."

SHIPPING GROUP MAERSK (MAERSKb.CO) , opens new tab

"We generally expect customers to be a bit more cautious about their inventory levels. In the very short term, we're likely to see some rush air freight orders in the U.S. ahead of the announced tariffs going into effect. It is also likely we will see an increase in demand for bonded storage as customers will want to hold off clearing goods while they get more certainty."

PACKAGING AND MEDICAL EQUIPMENT MAKE GERRESHEIMER (GXIG.DE) , opens new tab

"The tariffs primarily affect our exports from our plant in Mexico to the U.S. These include injection vials, for example ... We will pass these customs duties on to our clients as additional costs. If necessary and if the customs duties are to remain in place in the longer term, we will also be able to relocate capacities."

"With our production network in the U.S., there are also business opportunities for us from pharmaceutical companies that increasingly want to produce and source locally in the U.S."

MASSIMO BATTAINI, CEO, CABLE MAKER PRYSMIAN (PRY.MI) , opens new tab

"On first reaction, the announcement appears to have a positive impact on local production. The tariffs will be applied to finished products, and therefore removes the risk that U.S. production could have been undercut from abroad. With 30 factories across the U.S. and as the market leader we are best placed to strengthen our leadership position."

ANDERS VINDEGG, HEAD OF MEDIA RELATIONS, ALUMINIUM PRODUCER HYDRO (NHY.OL) , opens new tab

"We are working actively both from Norway and in the EU in Brussels to inform and to work actively with the organisations and other measures that we're a part of to leverage the importance of Norwegian aluminium to Europe."

"We're also using our network and have our people on the ground in the U.S. working hard in dialogue with the U.S. administration to understand the effects of the tariffs."

ASSOCIATIONS

INTERNATIONAL APPAREL FEDERATION, REPRESENTING GARMENT MANUFACTURERS IN 40 COUNTRIES

"The US government's announcement of heavy taxes on its trade with the rest of the world is a major shock to our global apparel industry. It unnecessarily creates a new and often irrational reality affecting billions of dollars of investments and the lives of tens of millions of people working in our industry globally. Ultimately, someone will have to pay the price."

CANADIAN STEEL ASSOCIATION

"To reduce our dependency, the Canadian steel industry urgently requires the adoption of strict border measures that address unfair steel trade in Canada and helps to recapture the Canadian market for our industry, our workers and our communities."

SPANISH ASSOCIATION OF OLIVE OIL EXPORTERS

"The Spanish olive oil sector is seriously disadvantaged by this 20%, compared to 10% for other producing countries not belonging to the European Union."

"98% of olive oil consumed in the United States comes from imports, so these tariffs will result in a higher purchase price that will have to be borne by U.S. consumers."

KEVIN CRAVEN, CEO, BRITISH AEROSPACE AND DEFENCE INDUSTRY GROUP ADS, ON AEROSPACE COMPONENTS

"We are absolutely not clear whether that exemption (from all tariffs on items that are classified as air worthy by regulators) continues and whether these tariffs apply or not. So potentially that might make it more painful."

EU FARMING GROUP COPA-COGECA

"The introduction of additional tariffs threatens to disrupt global supply chains, drive up prices, and limit market access for farmers and agri-cooperatives on both sides of the Atlantic, with significant economic consequences for the agricultural sector."

"Copa and Cogeca strongly urge EU and US policymakers to fully exhaust diplomatic efforts in the coming days. Both sides must work constructively to address grievances without jeopardizing existing trade benefits."

ANTHONY BRUN, HEAD OF FRENCH COGNAC GROWERS ASSOCIATION UGVC

"One could have feared much higher tariffs, but this risk is not off the table and remains with a potential conflict over bourbon whiskey. We already face tariffs in China, now there are the U.S., and the consequences will be very very brutal to wine growers."

ETHAN LANE, SENIOR VP OF GOVERNMENT AFFAIRS, NATIONAL CATTLEMEN'S BEEF ASSOCIATION (NCBA)

"President Trump is taking action to address numerous trade barriers that prevent consumers overseas from enjoying high-quality, wholesome American beef. NCBA will continue engaging with the White House to ensure fair treatment for America's cattle producers around the world and optimize opportunities for exports abroad."

SIGRID DE VRIES, DIRECTOR GENERAL, EUROPEAN AUTOMOBILE MANUFACTURERS' ASSOCIATION (ACEA)

"We urge our leaders to meet urgently so that they can find a solution to any issues preventing free and fair trade between historic allies and allow the EU-US relationship to flourish once again."

SWISS BUSINESS GROUP ECONOMIESUISSE

"A further escalation of the trade conflict must be prevented. The Federal Council and Swiss economic diplomacy are called upon to quickly find solutions at the negotiating table with the U.S. government. From an economic perspective, there are no comprehensible reasons for U.S. tariffs against Switzerland – quite the opposite."

DIRK JANDURA, HEAD OF GERMANY'S EXPORTERS' ASSOCIATION BGA

"We will have to pass these tariffs on as price increases, and that will hit turnover in many cases ... This is an economic blind alley at whose end lie welfare losses for both sides of the Atlantic."

https://www.reuters.com/markets/us/wall-street-reacts-trumps-reciprocal-tariffs-2025-04-02/