German Economy Minister Robert Habeck has publicly criticized the rationale behind potential tariffs imposed by the United States under a possible future Trump administration. Speaking ahead of an EU trade ministers meeting, Habeck dismissed the premise of such tariffs as “nonsense” and emphasized the strength of the European Union’s economic position.

Habeck urged a measured but firm response from the EU, highlighting the importance of unity amongst member states. He cautioned against individual countries seeking exemptions, citing the ineffectiveness of such strategies in the past. He further stressed the necessity of pursuing strong trade agreements with global partners in South America, Asia, and the Pacific regions.

Central to Habeck’s argument is the assertion that the underlying economic calculations supporting the tariffs are fundamentally flawed. He specifically refuted the notion that a trade surplus or deficit inherently represents a problem. This stance signals a potential for robust negotiations and a firm defense of European economic interests in the face of future trade pressures.

Over the weekend, significant demonstrations unfolded in major American cities including Washington D.C., New York City, Philadelphia, and Los Angeles. Tens of thousands of protesters gathered to express their vehement opposition to spending cuts implemented by the Department of Government Efficiency (DOGE), spearheaded by Elon Musk, and President Donald Trump’s broader policy agenda.

Speakers at the rallies, notably Reverend William Barber II, articulated a sentiment of deep concern, characterizing the actions of Musk and Trump as dictatorial. Barber emphasized the protesters’ resolve to maintain pressure on the two leaders until substantive change is realized. The protests were framed as a critical defense of democratic principles, with organizers vowing to remain steadfast in their opposition to what they termed “neofascist extremists.” The demonstrations signify a growing national resistance to the current political landscape and a commitment to challenging existing policies.

As of 12:01 a.m. ET on Saturday, U.S. Customs and Border Protection (CBP) began enforcing the 10% tariff imposed by President Trump on imports from numerous countries. Higher tariffs targeting 57 major trading partners are scheduled to follow next week.

This action represents a significant departure from the post-World War II framework of reciprocal tariff agreements. Kelly Ann Shaw, a trade lawyer at Hogan Lovells and former White House trade advisor, described the move as “the single biggest trade action of our lifetime.”

The announcement has already reverberated through global markets. By the close of trading on Friday, it had triggered a $5 trillion decline in the stock market valuation of 500 leading companies over two days. Oil and commodity prices also experienced sharp declines, with investors shifting capital into government bonds.

While a CBP bulletin indicated that no grace period would be granted for cargoes already en route at the time of implementation, a subsequent bulletin provides a 51-day grace period for goods loaded onto vessels or planes and in transit before 12:01 a.m. ET Saturday. The long-term economic implications of these tariffs remain to be seen.