White House Economic Council Director Kevin Hassett has revealed that over 50 nations have reached out to the US to initiate new trade negotiations following President Donald Trump’s sweeping tariff policies. Hassett defended the controversial move, stating that while many countries are angry and retaliating, the tariffs are having the desired effect.
In an interview on ABC News’ “This Week”, Hassett said, “Countries are angry and retaliating, but I received a report from the US Trade Representative last night confirming that more than 50 countries have approached the President for negotiations. They realize they bear a significant share of the tariff burden.”
President Trump had announced the imposition of new tariffs on April 2, targeting countries with large trade surpluses with the US. His administration’s goal is to make trade “fair and reciprocal” by countering what they consider unfair practices, such as subsidies, VAT manipulation, and non-monetary trade barriers.
From April 9, the US will enforce customized tariffs on countries with the highest trade deficits. The announced tariff rates include:
- China – 34%
- Vietnam – 46%
- Sri Lanka – 44%
- Bangladesh – 37%
- Taiwan – 32%
- India – 26%
- Japan – 24%
- European Union – 20%
- Israel – 17%
- United Kingdom – 10%
Hassett assured that the US consumer impact would be limited, citing inelastic supply chains and foreign market dependence on US demand. He emphasized that countries like China have been dumping goods to maintain employment, which has contributed to America’s persistent trade deficit.
President Trump insists the tariffs are a strategic move to encourage fairer trade relations. While critics fear a global trade war, the White House views the global outreach for talks as a sign of policy success.
As global negotiations ramp up, all eyes are now on how these tariff-driven talks will reshape international trade dynamics.
