Trump’s strategy working? Over 50 countries seek trade talks with US after tariffs imposed
Photo: US President Donald Trump (Getty Images)
White House National Economic Council Director Kevin Hassett stated that over 50 countries have reached out to the White House with proposals to initiate trade negotiations. This occurred just days after US President Donald Trump announced reciprocal tariffs, reports Reuters and ABC News.
"So, the fact is, the countries are angry and retaliating and, by the way, coming to the table. I got a report (from the US Trade Representative -ed.) last night that more than 50 countries have reached out to the president to begin a negotiation," said Hassett.
He also defended Trump’s tariffs, dismissing concerns that the tariffs would lead to increased costs for American consumers.
Additionally, Hassett rejected claims that the tariffs were part of Trump’s strategy to crash financial markets in order to pressure the US Federal Reserve (Fed) to cut interest rates. He added that there would be no pressure on the Fed. However, earlier on Friday, Trump posted a video stating that the tariffs would help secure a rate cut from the Fed.
Trump's tariffs
On Wednesday, April 2, Donald Trump announced tariffs on nearly all of the US's trade partners. A 10% tariff was imposed on several countries, taking effect on April 5, while a higher rate was set for around 60 countries, which will take effect on April 9.
According to the US Secretary of Commerce, Washington has no plans to delay the implementation of the new tariffs, despite the desire of several countries to renegotiate these tariffs.
Reuters reported today that EU countries plan to take countermeasures against US tariffs in the coming days. In particular, the European Union may impose retaliatory tariffs on all US imports.
