Treasury Secretary Scott Bessent said that unfair trade practices are not ‘the kind of thing that can be negotiated on days or week’
High -level government officials said on Sunday that more than 50 countries affected by the president’s new tariffs contacted to start negotiations on import taxes. The highest rates should be charged from Wednesday (9) starting a new era of economic uncertainty without a clear end in sight. Treasury Secretary Scott Bessent said that unfair business practices is not “the kind of thing that can be negotiated in days or weeks.” The United States, he said, need to see “what countries offer and if it is believable.” Trump, who spent the weekend in Florida playing golf, posted online that we’ll win. Hand on firm, it’s not easy. ”
Members of his office and economic consultants were weight on Sunday defending tariffs and minimizing the consequences for the global economy. “There is no need for a recession. Who knows how the market will react in a day, in a week?” said Bessent. “What we are looking for is to build long -term economic foundations for prosperity.” Trump’s tariff offensive, announced on April 2, fulfilled an important campaign promise, as he acted without Congress to redesign the rules of global trade. It was a movement of decades to Trump, which has long denounced foreign trade agreements as unfair to the US.
Countries are striving to find out how to respond to tariffs, with China and other countries retaliating rapidly. The main economic advisor of the White House, Kevin Hassett, acknowledged that other countries are “furious and retaliated” and, according to him, “by the way, are approaching the table.” He cited the US Commerce Representative’s office, which reported that more than 50 nations contacted the White House to start negotiations. In addition to turbulence, new rates are hitting both allies and US opponents, including Israel, who is facing a 17%rate.
Vietnam, an important clothing manufacturing center, has also contacted the government about tariffs. Trump said the Vietnam leader said on a telephone call that his country “wants to reduce his rates to zero if he can reach an agreement with the US.” And an important European partner, the Italian prime minister Giorgia Meloni, said she disagreed with Trump’s measure, but was “ready to use all tools-negotiating and economic-needed to support our companies and sectors that can be penalized.” The Secretary of Commerce, Howard Lutnick, made it clear that there would be no way to postpone the rates that are a few days after being applied. “The tariffs are coming. Of course yes,” he said, adding that Trump needed to redefine global trade. But he has committed only to keep them “definitely” “for days and weeks.”
Clinton said Trump and his economic team are sending contradictory messages if they are interested in revitalizing manufacturing and at the same time continuing open to negotiating with business partners. If other countries eliminate their fares and the US too, he said, “it will only be an agreement, and then we will not increase any revenues or make no company transfer to the United States. If it is a source of permanent revenue and trying to get companies to the United States, then we will have these tariffs permanently. So the president can’t have both.”
*With information from Estadão Content
Posted by Sarah Paula
