Trump addresses stock market losses, China trade deficit

German Economy Minister Robert Habeck said in a news conference on Thursday that President Donald Trump will buckle under pressure from Germany and Europe in an escalating trade war.

"That is what I see, that Donald Trump buckles under pressure, corrects his announcements under pressure, but the logical consequence is that he must also feel the pressure, and this pressure must now be exerted from Germany, from Europe," Habeck said.

He urged the European Union to act in a united and strong manner in response to the new tariffs on EU imports into the U.S.

-ABC News' Somayeh Malekian

The Trump administration is still slapping new tariffs on several countries that preemptively tried to lower trade barriers with the United States to avoid getting targeted.

For example, Israel was hit with a 17% tariff despite completely scuttling all of its tariffs on U.S. goods.

Vietnam was hit with a 46% tariff, even though it preemptively cut tariffs on cars, liquefied natural gas and ethanol products, among other items, to reduce its trade surplus with the United States.

-ABC News' Ben Siegel

French Prime Minister Emmanuel Macron joined the growing criticism of Trump's tariffs from allies labeling the tariffs "brutal and unfounded."

In a speech given at the Elysée Palace as he welcomed representatives from the most impacted sectors, he declared that the measures will leave the American economy, both businesses and citizens, "weaker and poorer."

Macron also called for a suspension of planned investments in the U.S. by European companies until there is greater clarity on trade policies.

He vowed that "there will be a European response."

The first one will come in mid-April on tariffs that were already announced on steel and aluminum, and then a "more massive" response concerning yesterday's announcement will come at the end of the month.

-ABC News' Hugo Leenhardt

While President Donald Trump has no public events on the schedule, various White House officials have been deployed to defend his tariffs as backlash grows.

One common theme of their news appearances is the insistence that the steep levies on trade partners are not a negotiating tactic.

"Negotiating is talking," Commerce Secretary Howard Lutnick said on CNN. "No talking, doing."

"The president made it clear yesterday, this is not a negotiation. This is a national emergency. He's always willing to pick up the phone to answer calls, but he laid out the case yesterday for why we are doing it this," White House press secretary Karoline Leavitt told the network earlier on Thursday.