Tariffs Latest: Wall Street Reaction and More
Trump stuck by his sweeping tariffs plan ahead of the deadline for reciprocal levies to take effect on Wednesday.
More than 50 countries have approached the Trump Administration in a bid to negotiate on tariffs, Treasury Secretary Scott Bessent said on NBC News Sunday. However, time is running out ahead of the April 9 deadline and Bessent said “it’s not the kind of thing you can negotiate away in days or weeks.”
A deal with China also looks unlikely to happen quickly. Trump told reporters on Air Force One that the U.S. is not willing to make a deal with Beijing unless the trade deficit of $1 trillion is resolved.
Trump’s comments, and those of his aides, point toward the administration sticking to their trade policy, despite global markets selling off sharply in recent days.
“We have massive financial deficits with China, the European Union, and many others. The only way this problem can be cured is with tariffs, which are now bringing tens of billions of dollars into the U.S.A,” he said in a post on Truth Social late Sunday.
“Some day people will realize that tariffs, for the United States of America, are a very beautiful thing,” he added.