Treasury Secretary Scott Bessent stated that more than 50 nations have initiated trade talks with the U.S. following President Trump’s recent tariff rollout. This move was portrayed by top officials as a strategic repositioning in the global trade order, with Bessent emphasizing that the U.S. now holds leverage in negotiations. Countries like Taiwan have already offered zero tariffs as a basis for discussions with the U.S., pledging to remove trade barriers and increase investments.
Despite the nearly $6 trillion drop in U.S. stocks last week, Bessent downplayed the economic impact of the tariffs, citing strong job growth as a positive indicator. However, analysts warn of potential repercussions, with JPMorgan economists revising their GDP growth estimates downwards due to the tariffs. The uncertainty in the market has also raised concerns about the possibility of a global trade war and recession.
Several officials, including Commerce Secretary Howard Lutnick, have suggested that the tariffs may be a negotiating tactic and could potentially be eased through concessions. Billionaire Elon Musk expressed hope for free trade between the U.S. and Europe in the future. Despite differing opinions within the Trump administration, there is no rift over the tariff policy, according to Trump trade adviser Peter Navarro. The rollout of reciprocal tariffs is still expected to proceed on April 9.
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