Foreign countries are eager to strike deals with the United States following President Donald Trump’s recent announcement of "Liberation Day" tariffs. This news came to light during a series of interviews with top administration officials over the weekend.
Kevin Hassett, the Director of the National Economic Council, shared insights on ABC’s “This Week.” He mentioned that the U.S. Trade Representative reported that over 50 countries have expressed interest in negotiating with the U.S. This interest stems from the understanding that they will bear much of the impact of the tariffs, which range from a baseline of 10% to as high as 50%. Hassett emphasized that these tariffs are unlikely to heavily burden American consumers. He explained that the long-standing trade deficit is largely due to foreign countries dumping goods in the U.S. to create jobs in their own nations, like China.
On NBC’s “Meet The Press,” Treasury Secretary Scott Bessent echoed Hassett’s statements, noting that the decision to keep the tariffs in place is ultimately up to Trump. He highlighted that the tariffs have given the president significant leverage, prompting countries to approach the U.S. about reducing their trade barriers and stopping practices like currency manipulation.
Peter Navarro, a senior counselor for trade and manufacturing, appeared on Fox News and downplayed the idea that simply removing tariffs would solve trade issues. He described the situation as a national emergency caused by a trade deficit exacerbated by unfair practices. Navarro insisted that discussions should go beyond just lowering tariffs. He pointed to issues like currency manipulation and unfair agricultural standards that keep U.S. products out of foreign markets.
As the stock market reacts to fears of rising consumer prices and a potential trade war, Trump addressed Americans on Saturday. He urged them to stay strong, claiming that China has suffered more than the U.S. from the tariffs. He asserted that the U.S. has been treated poorly for too long, but that is changing. Trump reported that investments are pouring back into the country, amounting to over five trillion dollars. He called this an economic revolution and encouraged Americans to hang tough, promising that the outcome will be historic.
The ongoing discussions and negotiations reflect a significant moment in U.S. trade policy, as the government seeks to address longstanding trade imbalances and unfair practices from other nations.