Trump Tariff Negotiations, 50 Countries Have Started "Wooing" the White House

WASHINGTON DC, MONDAY - More than 50 countries have contacted the White House to negotiate import tariffs. These countries aim to find a mutually beneficial solution. However, United States President Donald Trump is currently in a strong position.

According to Reuters news agency, Monday (7/4/2025), United States Secretary of the Treasury Scott Bessent stated that more than 50 countries have begun negotiations with the U.S. since the announcement of new base tariffs and import duties on April 2, 2025. Bessent and other officials did not mention the names of the countries or details of the discussions.

"Unfair trade practices are not matters that can be negotiated within days or weeks. The United States must examine what these countries are offering and whether it can be trusted," said Bessent.

The universal tariff of 10 percent in the United States will apply worldwide starting April 5, 2025. Meanwhile, the "reciprocal" tariff ranging from 11 to 50 percent for certain countries will take effect on April 9, 2025.

Bessent remains optimistic regarding Trump's decision because U.S. job growth is stronger than expected. He also has no issues with the stock market's decline.

The U.S. stock market plummeted on Sunday night (6/4/2025). The Dow Jones Industrial Average and S&P 500 fell by nearly 4 percent. The Nasdaq dropped by almost 5 percent. Even the price of Bitcoin, which had been relatively stable last week, also declined by nearly 6 percent. Stock markets in other countries also turned red.

"There is no need for a recession. Who knows how the market will react in a day, in a week? What we are focusing on is building long-term economic fundamentals for prosperity," said Bessent.

Commerce Secretary Howard Lutnick said there was no delay in the tariffs that will go into effect in the coming days. Speaking on CBS News’ “Face the Nation,” he said the tariffs would remain in place “for days and weeks.”

China became the country that responded strongly by imposing a reciprocal import tariff of 34 percent. The European Union prepared retaliatory tariffs while approaching Central Asian countries. Meanwhile, Australia decided not to retaliate.

White House chief economic adviser Kevin Hassett acknowledged that many countries were “angry and retaliating,” but others were willing to negotiate. “Countries are looking for compromise because they understand they are paying a lot of the tariffs. I don’t think you’re going to see a huge impact on consumers in the U.S.,” he said.

Several countries have been actively approaching the White House. Vietnam has contacted Trump and promised to cut import tariffs on the US. An Indian government official said the country has no plans to retaliate and is in negotiations with the US.

Indonesia has taken similar steps. Coordinating Minister for Economic Affairs Airlangga Hartarto said Jakarta has chosen to pursue diplomacy and negotiation to find a mutually beneficial solution.

Taiwanese President Lai Ching-te has offered zero tariffs, removing trade barriers and increasing investment as the basis for negotiations with the U.S. In Italy, Prime Minister Giorgia Meloni said he was ready to use all tools — negotiating and economic.

Israeli Prime Minister Benjamin Netanyahu will meet Trump on Monday (7/4/2025). In addition to discussing Gaza, he will ask for a suspension of 17 percent tariffs on Israel.

But Lawrence Summers, an economist and former US Treasury Secretary, said Trump and his economic team were sending conflicting messages. They wanted to revive the US manufacturing sector but remained open to negotiations.

If other countries remove their tariffs, the US will do the same. “If tariffs were a permanent source of revenue and a way to get businesses to move to the United States, we would have them permanently. So the president can’t have it both ways,” he said.

Trump spent the weekend golfing in Florida. He wrote on social media, “We will overcome. Stay strong, it won’t be easy.”

After the weekend, Trump returned to the White House on Air Force One, Sunday (6/3/2025). He told reporters that the plunge in the US and world stock markets showed that his tariff strategy was working.

"Sometimes you have to take medicine to fix something. We've been treated very badly by other countries because we have had stupid leadership that has allowed this to happen," Trump said.

Trump said he had spoken to European and Asian leaders and that they were eager to reach a deal.

In Congress, the tariffs have been warmly welcomed by Republicans, but with some trepidation. Several Republican senators have signed on to a new bipartisan bill that would require the president to get congressional approval for tariffs. Lawmakers must approve the tariffs within 60 days or they expire.

Republican Rep. Don Bacon said Congress needs to restore authority over tariffs. “We gave some of that power to the executive branch. In retrospect, that was a mistake,” he said.

Republican Senator John Barrasso said Trump did “what he had the right to do,” but acknowledged there was concern across the country. “There will be a discussion in the Senate. We’ll see where it goes,” he said. (AP/AFP/Reuters)