U.S. state officials asserted that the American President’s tariff negotiations with foreign governments are not a priority.
Donald Trump’s first call with a foreign leader following his tariff announcement on Wednesday was with Vietnam’s General Secretary of the Communist Party, To Lam.
After the call, Trump described the conversation as “very productive,” stating that the Vietnamese leader expressed a willingness for his country to slash their tariffs down to zero if they could come to an agreement with the U.S. government.
The positive outcome of the call between the two leaders had many speculating that the U.S. government is trying to negotiate with other foreign governments for fewer tariffs. However, White House officials have dismissed all these claims, stating that their primary focus was implementing the levies.
One White House official even remarked, “President Trump is always willing to take a phone call from a foreign leader and discuss possible deals, but it is not a negotiation until it’s a negotiation.”
Trump says it’s a great time for investors to invest in the U.S.
President Trump still believes he made the right call to impose tariffs on nearly every country in the world despite contributing to one of the sharpest declines in the stock market since the COVID-19 pandemic.
Trump posted on his Truth Social platform, telling investors that his policies will stand and that this is the perfect time to invest and “get rich and richer than ever before.”
Nonetheless, according to a source, Trump understands that without long-term certainty, businesses wouldn’t risk relocating their supply chains to the U.S. Investors would need to be sure that the tariffs would be permanent.
The president’s administration still maintains that the tariffs applied were a response to years of unfair trade practices by key U.S. partners and allies. Furthermore, state officials believe the reciprocal tariffs will revitalize the country’s manufacturing power and encourage American jobs.
Scott Bessent believes negotiations with businesses more critical than with foreign countries
U.S. Treasury Secretary Scott Bessent discounted claims that they were considering quick negotiations with their trading partners to cut down tariffs. He, however, argued that negotiating with companies would be more important than discussing with other countries.
Moreover, Bessent had earlier cautioned other foreign governments not to retaliate against U.S. tariffs, saying levies against them would only increase.
So far, China has retaliated against the U.S.’s new tariffs, slapping the same 34% tariff on all goods coming from the U.S. Trump even commented on Beijing’s move, stating that the nation played it wrong.
See also
Trump’s tariff policy wipes over $1 trillion from the magnificent 7’s market cap
On the other hand, Bessent believes that Beijing should rebalance its economic model. He claimed that though that may not happen soon, it would have to do so in the next few years. He also argued that Europe would also have to rebalance.
Some diplomats and business figures have tried to communicate with the White House and major state officials. EU trade diplomat Maroš Šefčovič spoke with U.S. commerce secretary Howard Lutnick and U.S. trade representative Jamieson Greer on Friday, claiming they were willing to sit for meaningful negotiations.
Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025.
Learn More