Over 50 nations want to start trade talks with US as Trump calls reciprocal tariffs ‘a beautiful thing’ | World News
More than 50 countries have reached out to the White House to initiate trade talks after reciprocal tariffs were imposed globally on trade partners of the US, officials from the US President Donald Trump’s adminration said as they defended the move amid bloodbath at the US stock market after nearly $6 trillion in value was wiped out.
Trump officials downplayed the economic fallout and defended the reciprocal tariff’s rocky implementation, as the US president’s advisers tried to portray tariffs as a savvy repositioning of America in the global trade order.
During recent interviews, Treasury Secretary Scott Bessent played down the stock market’s deep plunge and said that there was “no reason” to expect a recession due to the reciprocal tariffs. “This is an adjustment process,” he added.
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Commerce Secretary Howard Lutnick stated that the reciprocal tariffs can be implemented as announced President Trump and planned the team. While another Trump adviser, Kevin Hassett, claimed that over 50 nations have contacted the White House to negotiate a trade deal with the US.
Bessent also said that more than 50 countries have started negotiations with the US over trade talks after the announcement of reciprocal tariffs President Trump last Wednesday.
On Friday, all three major stock indices in US nosedived about 5% while the S&P 500 dropped almost 6%, in the worst week for the US stock market since COVID-19 struck the world in 2020.
In a post on Truth Social, Trump said “We have massive financial deficits with China, the European Union, and many others. The only way this problem can be cured is with TARIFFS…They are already in effect, and a beautiful thing to behold.”Story continues below this ad
Israeli Prime Miner Benjamin Netanyahu is in the US to meet Trump and have trade talks. Netanyahu is poised to seek a reprieve from a 17% tariff on the country’s goods, as he meets the US president on Monday.
Taiwan’s President Lai Ching-te offered a zero tariff in order to initiate talks with the US and vowed to remove trade barriers.
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