The Trump administration’s new tariffs have prompted more than 50 countries to reach out to the White House to discuss potential trade deals, according to National Economic Council Director Kevin Hassett.
Despite worries on Wall Street and concerns voiced by some economists, the administration says these tariffs are key to resetting global trade in America’s favor.
On Sunday, Hassett revealed that over 50 nations have already contacted the White House with the aim of starting talks. His statement was echoed by Commerce Secretary Howard Lutnick, who declared, “There is no postponing,” explaining that tariffs are here to stay until fairer arrangements can be worked out.
President Trump’s decision to impose a broad set of tariffs last week shocked global markets, causing a notable dip in U.S. stocks. However, leading figures in his administration dismissed recession fears.
Treasury Secretary Scott Bessent insisted there was “no reason” to price in a recession, pointing to unexpectedly strong job growth. Commerce Secretary Lutnick doubled down, insisting tariffs are “definitely going to stay in place for days and weeks,” a signal that the White House is not backing down.
Some nations, including Taiwan and Vietnam, have reportedly pushed for zero-tariff agreements to avert hefty levies.
Taiwan’s President Lai Ching-te offered to remove all trade barriers rather than impose new ones, pledging to boost U.S. investment.
Meanwhile, Vietnam’s Deputy Prime Minister Bui Thanh Son requested a delay of tariffs on Vietnamese imports in hopes of negotiating before the steeper levies take effect.
The immediate market reaction has been turbulent, with U.S. stocks suffering one of their steepest drops since the onset of the COVID-19 crisis. Yet White House officials stress that any near-term market volatility will be outweighed by long-term gains for America’s workforce and manufacturing.
Trump adviser Peter Navarro dismissed investor panic, advising people “not to sell” and predicting the tariffs will lead to “the biggest boom in the stock market we’ve ever seen” once fair trade balances are restored.
Administration officials contend these tariffs are necessary to correct what they see as long-standing imbalances.
According to Commerce Secretary Lutnick, foreign nations “know they’ve been ripping us off,” and the White House’s firm stance is the only way to ensure Americans get a fair deal.
President Trump has frequently argued that heavy levies on imports will help revive U.S. manufacturing and bring jobs back home.
While global markets remain on edge, the Trump administration is confident the tariffs will ultimately strengthen the U.S. economy and force fairer trade practices worldwide.
For now, the administration shows no signs of backing down. With over 50 nations already making overtures, the White House appears set on leveraging these tariffs to reshape America’s role in the global marketplace.