President Donald Trump announced plans to introduce a 10% baseline tariff on all imports to the United States, along with higher duties on major trading partners, potentially triggering a trade war with global ramifications. This move is likely to prompt retaliatory measures from other countries, resulting in significantly increased prices for various products.

In response to the tariffs, company executives and trade associations expressed their perspectives:

Mitsubishi Corp's CEO, Katsuya Nakanishi, declared that the company would adapt flexibly to the tariff impact, seeking opportunities amid changes while assessing risks. Suntory's President, Nobuhiro Torii, emphasized a strategy of localized production and sales to navigate the tariffs.

Economiesuisse, a Swiss business group, warned against further trade conflict escalation, urging swift negotiations between the Swiss government and the U.S. to find resolutions. German Exporters' Association (BGA) highlighted the negative impact of passing tariffs as price increases, leading to reduced turnover and mutual welfare losses. Italian fashion industry representative, Giovanna Ceolini, expressed concerns about potential demand slowdown due to increased prices.

Germany's main industry association, BDI, criticized the protectionist measures, citing risks to the economy, jobs, and global stability. BDI stressed the need for the EU to bolster alliances with other trading partners and coordinate responses to counter the disruptions in international trade.

Scott Whitaker, CEO of AdvaMed, cautioned that broad tariffs could function as an excise tax, impacting research and development spending in the medtech sector. He warned of job losses, increased healthcare costs, and setbacks in medical innovation if such tariffs were to be implemented.