Macroeconomy

More than 50 countries have already spoken with the US to negotiate tariffs.

Taiwan and Vietnam offer to withdraw all their tariffs to Trump to make him back down.

US President Donald Trump.
ARA
06/04/2025
2 min

BarcelonaMore than 50 countries affected by US President Donald Trump's tariff policy have already spoken with the agent to negotiate the taxes, according to White House National Economic Council Director Kevin Hassett on Sunday. "Last night, I received a report from the Trade Representative that more than 50 countries have contacted the president to begin negotiations," Hassett explained in an interview on the program This week, from ABC News.

The economist, who was one of the members of the Trump administration who met with him while he deliberated on the tariffs, acknowledged that "there could be some increase" in prices as a result of the measure, but denied that the taxes would place "a heavy burden" on the American consumer. The tariffs have sown fear among investors of a possible recession in the United States and a rise in the price of the grocery basket. In addition, Federal Reserve (Fed) Chairman Jerome Powell stated on Friday that this new wave of protectionism will translate into higher inflation and lower economic growth.

Still, the director of the National Economic Council stressed that tariffs are not a tax "because they depend on supply and demand." "Our approach is to reduce taxes, spending, and regulation and impose a tariff baseline around the world, hitting the hardest hit players," he added. When asked why Russia does not appear on the list of countries affected by tariffs, Hassett said that, unlike other US allies such as the European Union, Canada, or Mexico, "Russia is in the middle of peace negotiations [with Ukraine] that affect thousands of people," so imposing taxes "is not. He also denied that the tariffs are part of a Trump strategy to crash financial markets and pressure the Federal Reserve to lower interest rates.

In another interview on the program Meet the press From NBC News, U.S. Treasury Secretary Scott Bessent downplayed the stock market plunge and said there was "no reason" to expect a recession because of the tariffs, citing the strong jobs data for March. "We saw with Friday's jobs number, which was well above expectations, that we are making progress, so I don't see any reason for us to price in a recession," he said.

Taiwan offers "zero tariffs" to the U.S.

Taiwanese President Lai Ching-te on Sunday offered zero tariffs as a basis for talks with the United States and pledged to eliminate trade barriers rather than impose reciprocal measures. The leader also said Taiwanese companies will increase their investments in the United States. Taiwan, which has a large trade surplus with the US, faces a 32% tariff on its products. However, these levies do not apply to semiconductors, a major Taiwanese export.

In a video message released by his office after meeting with small and medium-sized business executives at his residence, Lai announced that given Taiwan's dependence on trade, its economy will inevitably struggle to cope with the tariffs, although he will try to minimize their impact. Vietnam, on which Trump has imposed 46% tariffs, has also offered to withdraw all of its current US tariffs, Bloomberg reported on Sunday. Communist Party General Secretary To Lam reportedly asked the Republican Party to postpone the measure, which is due to take effect on Wednesday, April 9, for at least 45 days, according to local media cited by the Efe news agency.

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