Over 50 Countries Engage with White House for Trade Talks Amid Tariff Controversy
U.S. officials report global interest in negotiations as stock markets react to newly imposed tariffs.
Kevin Hassett, the director of the U.S. National Economic Council, announced on Sunday that more than 50 countries have reached out to the White House to initiate trade negotiations.
This statement comes as tensions rise following President Donald Trump's recent tariff announcements.
Hassett dismissed claims that the tariffs were an indirect means of pressuring the Federal Reserve to lower interest rates, asserting that there would be no 'political coercion' exerted on the central bank.
Trump had previously suggested through a video posted on his platform, Truth Social, that the tariffs were intended to intentionally impact the stock market in a bid to facilitate lower interest rates.
In a separate interview, Treasury Secretary Steven Mnuchin downplayed the significance of the stock market decline since the announcement of the tariffs, insisting there is 'no reason' to expect a recession in light of these measures.
The global economic landscape has been shaken following Trump's declaration of extensive tariffs on imports, which prompted an immediate retaliatory response from China and intensified fears of a global trade war and economic recession.
Top Trump administration officials attempted to frame the tariffs as a strategic repositioning of the United States within the global trading system, characterizing the ensuing economic disruptions as short-term consequences.
U.S. stock markets saw a drop of approximately 10% within two days following the announcement of the tariff regime, which was perceived as more aggressive than analysts and investors had anticipated.
Market analysts and large investors attributed this decline to Trump's assertive tariff policies, warning that these measures could exacerbate inflation and hinder economic growth, a sentiment echoed by many economic experts and the Federal Reserve Chair.
The markets, which have already experienced volatility due to the tariffs, may face further turbulence over the coming week, as the implications of Trump's broad import duties continue to unsettle investors.
This period marked the worst weekly performance for U.S. stocks since the COVID-19 pandemic began five years ago.
Hassett indicated that the tariffs have prompted engagement from over 50 nations seeking to establish trade discussions with the United States.
Taiwan's President Lai Ching-te also offered to eliminate tariffs on U.S. imports, proposing it as a foundation for negotiations, and pledged that Taiwanese companies would increase investments in the United States.
In contrast to other economic analysts, Hassett expressed that he does not foresee a significant negative impact on consumers, suggesting that exporters are likely to reduce prices.
Secretary Mnuchin reiterated the outlook for the U.S. economy, stating that the recent job growth exceeded expectations, indicating robust economic activity.
He referred to a jobs report released on Friday, emphasizing that the job creation data supports a positive economic trajectory and underscores no anticipated recession.
This statement comes as tensions rise following President Donald Trump's recent tariff announcements.
Hassett dismissed claims that the tariffs were an indirect means of pressuring the Federal Reserve to lower interest rates, asserting that there would be no 'political coercion' exerted on the central bank.
Trump had previously suggested through a video posted on his platform, Truth Social, that the tariffs were intended to intentionally impact the stock market in a bid to facilitate lower interest rates.
In a separate interview, Treasury Secretary Steven Mnuchin downplayed the significance of the stock market decline since the announcement of the tariffs, insisting there is 'no reason' to expect a recession in light of these measures.
The global economic landscape has been shaken following Trump's declaration of extensive tariffs on imports, which prompted an immediate retaliatory response from China and intensified fears of a global trade war and economic recession.
Top Trump administration officials attempted to frame the tariffs as a strategic repositioning of the United States within the global trading system, characterizing the ensuing economic disruptions as short-term consequences.
U.S. stock markets saw a drop of approximately 10% within two days following the announcement of the tariff regime, which was perceived as more aggressive than analysts and investors had anticipated.
Market analysts and large investors attributed this decline to Trump's assertive tariff policies, warning that these measures could exacerbate inflation and hinder economic growth, a sentiment echoed by many economic experts and the Federal Reserve Chair.
The markets, which have already experienced volatility due to the tariffs, may face further turbulence over the coming week, as the implications of Trump's broad import duties continue to unsettle investors.
This period marked the worst weekly performance for U.S. stocks since the COVID-19 pandemic began five years ago.
Hassett indicated that the tariffs have prompted engagement from over 50 nations seeking to establish trade discussions with the United States.
Taiwan's President Lai Ching-te also offered to eliminate tariffs on U.S. imports, proposing it as a foundation for negotiations, and pledged that Taiwanese companies would increase investments in the United States.
In contrast to other economic analysts, Hassett expressed that he does not foresee a significant negative impact on consumers, suggesting that exporters are likely to reduce prices.
Secretary Mnuchin reiterated the outlook for the U.S. economy, stating that the recent job growth exceeded expectations, indicating robust economic activity.
He referred to a jobs report released on Friday, emphasizing that the job creation data supports a positive economic trajectory and underscores no anticipated recession.
Translation:
Translated by AI
