Despite international pressures and negotiation appeals, president of the United States gives signs that it will not retreat
Global markets started the week on alert, reacting to the tariff increase imposed by the US President ,. Despite international pressures and negotiation appeals, Trump gives no signs of retreat. Israeli Prime Minister Benjamin Netanyahu will be received at the White House on Monday (7) to personally discuss the tariff package that affects 185 countries. For Israel, the 10% global fare will rise to 17% on Wednesday. Netanyahu, close to Trump, hopes to demonstrate the economic impact of tariffs for his country, but the White House has already indicated that negotiations will be difficult.
The director of the National Economic Council of the United States, Kevin Hassett, said that more than 50 countries have sought negotiations to reduce tariffs, which have been in effect since Saturday. Russia was excluded from the package not to impair negotiations about the war in Ukraine. US Secretary of Commerce, Howard Lutnick, has ensured that the new tariffs will not be subject to negotiations. Meanwhile, Treasury Secretary Scott Bessent has minimized the possibility of a recession, despite the increase in the probability of a global recession by 2025, according to JP Morgan bank.
Economist Hugo Garbe criticized Trump’s fiscal policy, which he considers contrary to the American philosophy of economic liberalism. He argues that rates increase inflation in the US, making imported products more expensive. Trump, however, argues that tariffs are a “remedy” for financial deficits with China and the European Union. China has already retaliated with 34%rates, while the European Union meets to define its response.
