Investing.com -- Surrogates of U.S. President Donald Trump took to the airwaves on Sunday to reassure the public of his tariff policies despite stocks seeing a brutal sell-off on Thursday and Friday.
There were two big takeaways from the discussions. First, Commerce Secretary Howard Lutnick dashed hopes that the reciprocal tariffs, scheduled for April 9, could be delayed. Next (LON:NXT), Treasury Secretary Scott Bessent said the President is negotiating with 50 nations.
“There is no postponing,” Lutnick said. “They are definitely going to stay in place for days and weeks. That is sort of obvious. The President needs to reset global trade. The countries of the world are ripping us off, and it's got to end. And the President has made it crystal, crystal clear. This is the policy we are going to protect.”
Treasury Secretary Scott Bessent stated that over 50 countries have begun talks with the U.S. since last Wednesday’s announcement, giving Trump a strong negotiating advantage. "He’s created maximum leverage for himself," Bessent said during an NBC News Meet the Press appearance. He also downplayed the recent stock market decline, saying there was "no reason" to expect a recession due to the tariffs, pointing to stronger-than-expected U.S. job growth as a positive sign.
In addition to the comments from Lutnick and Bessent, there were several positive developments related to U.S. trading partners.
On Sunday, Taiwan's President Lai Ching-te proposed zero tariffs as a foundation for negotiations with the U.S., committing to eliminating trade barriers instead of enforcing retaliatory measures. He also stated that Taiwanese companies plan to increase their investments in the United States.
Meanwhile, a senior economic minister said that Indonesia will not respond with retaliation to Trump's 32% trade tariff on the country, the government’s first official reaction to the measure.
On Friday, Trump said Vietnam wants zero percent tariffs with the U.S. and is willing to talk.
Israel Prime Minister Benjamin Netanyahu is scheduled to meet Trump at the White House on Monday to discuss tariffs and Gaza. Israel has dropped its tariffs on U.S. goods, and it is expected to become the first country to announce a free trade deal with the U.S officially.
