The Republican has remained defiant since unleashing the blitz of levies on stunned countries around the world on Wednesday, insisting that his policies “will never change” even as markets went into a tailspin.
But his staggered deadlines have left space for some countries to negotiate, even as he insisted he would stand firm and his administration warned against any retaliation.
“More than 50 countries have reached out to the president to begin a negotiation,” Kevin Hassett, head of the White House National Economic Council, told CNN on Sunday, citing the US Trade Representative.
He said they were doing so “because they understand that they bear a lot of the tariffs,” as the administration continues to insist that the duties would not lead to major price rises in the United States.
“I don’t think that you’re going to see a big effect on the consumer in the US,” he said.
Treasury Secretary Scott Bessent also told NBC’s Meet the Press that 50 countries had reached out.
But as for whether Trump will negotiate with them, “I think that’s a decision for President Trump,” Bessent said.
“At this moment he’s created maximum leverage for himself… I think we’re going to have to see what the countries offer, and whether it’s believable,” Bessent said.
Other countries have been “bad actors for a long time, and it’s not the kind of thing you can negotiate away in days or weeks,” he claimed.
Trump has long insisted that countries around the world that sell products to the United States are in fact ripping Americans off, and he sees tariffs as a means to right that wrong.
But many economists have warned that tariffs are passed on to consumers and that they could see price rises at home.
In the meantime, the uncertainty over trade and manufacturing has helped fuel a days-long panic in global markets. (AFP)
