US President Donald Trump has arrived in the White House to start a trade talks at the White House since rolling out the new tariff, said on Sunday that he defended the levy, which has erased the value of about $ 6 trillions from US stocks last week and reduced the economic decline.
Talk on Sunday morning shows that Trump’s top economic advisors demanded to portray tariffs as a lover of America in global trade order. He tried to reduce the economic decline from last week’s rollout, before the expected bumpy opening of the Asian stock markets on Monday.
Treasury Secretary Scott Besent said that more than 50 countries had started talks with the US since last Wednesday’s announcement, putting Trump in power.
Neither Besant nor other officials named countries or gave details about talks. However, keeping the interaction together with so many countries at once can potentially be a major logical challenge for the Trump administration. It is not clear how long this kind of conversation will be.
Taiwan’s President Lai Ching-T on Sunday offered zero tariffs as the basis of interaction with the US, to remove business obstacles and to increase its American investments.
“He has taken maximum advantage for himself,” on NBC News, Besent said, “Meet the press. ,
Bessent reduced the stock market drop and stated that there was no “reason” to estimate the recession based on tariffs, which cite the growth of American jobs as well as a strong-interesting American jobs.
“We can see from the number of jobs on Friday, it was above expectations, that we are moving forward, so I do not see any reason that we have to pay the price in the recession,” said Besant.
Trump shocked economies around the world, as he announced a wide tariff on American imports, trigger an anti -retracted levy from China and feared a global trade war and recession.
Trump declined by about 10% in two days since Trump declared a new global tariff regime, more aggressive than analysts and investors.
Analysts and large investors blamed the decline of the stock market on Trump’s tariff push, which most economists and the head of the US Federal Reserve believe that promoting inflation and damage economic growth. JP Morgan economists estimate that the tariff would result in a decline of 0.3% in the whole year’s GDP, below the pre -estimated estimate of 1.3% increase, and that the unemployment rate will now climb from 4.2% to 5.3%.
Integrated front
Five years ago, the Tariff-Stand Markets faced another week of potential upheaval after the worst week for American stocks since the beginning of the Covid-19 crisis.
The S&P1500 Composite Index, amidst the wide measures of the US market, lost about $ 6 trillion in two days after Trump’s announcement, and has been eliminated from mid -February to about $ 10 trillion, a significant blow to millions of Americans’ retirement nest eggs.
During an interview on ABC News this week, ‘US National Economic Council Director Kevin Haset denied that tariffs were part of a trump strategy to crashes financial markets, which pressurized the US Federal Reserve to cut interest rates, saying that no “political range” of the central bank would not be “political land”.
In a true social post on Friday, Trump shared a video, suggesting that his tariff aims to hammer the stock market in a bid to force low interest rates.
The social media post encouraged the global debate on whether Trump’s tariffs were part of a permanent new tariff regime or simply a conversation strategy, allowing other countries to reduce tariffs through concessions.
Commerce Secretary Howard Lutnik suggested CBS News “The Nation” that they could be later, saying that the tariff would remain in place “for days and weeks”. He said that on April 9, the mutual tariff will be rolled out as per the plan.
The procedure used to determine the tariff came under investigation last week, when they were applied to the uninhabited Antarctic islands populated by the penguins and other small, remote places.
Lutnik said that a comprehensive approach was required so that small countries could not be used to ignore tariffs.
“Originally (Trump) said,” I cannot give any part of the world a place where China or other countries can ship through them, “Lutnik said.
Trump advisor, billionaire Elon Musk said on Saturday that he expects to see the entire freedom of trade between the US and Europe in the future.
Trump Business Advisor, Peter Navarro dismissed the idea of rift between Kasturi and Trump administration on tariff policy, but said Tesla’s CEOs were looking for their commercial interests.
“There is no crack here,” Navaro told Fox News “futures on Sunday morning. ,
