ReutersUS President Donald Trump's advisers have defended the rates to have an imports and vowed to remain the course, despite market turmoil and calls to avoid trade war.
In a series of television interviews, the Secretary of the Ministry of Finance Scott Bensten has played the recent stock market in the stock markets and Howard Luni, the secretary of the trade, demands the reciprocal tariffs coming.
Bestent said there was no “reason” to expect a recession as a result of the turmoil. “It's a correction process,” he said.
Meanwhile, another top councilor Kevin Khaset said more than 50 countries had contacted Trump to try to negotiate a deal.
All three basic US stock indexs were immersed over 5% on Friday, while the S&P 500 dropped almost 6% in The oldest week for the US Exchange since 2020S
As a sign of continuing instability on the market this week, the Saudi Arabia Stock Exchange – which is traded on Sunday – ended nearly 7% lower, with its largest daily loss after the pandemic, state media reported.
ReutersCreated for the shocks, Lutnik told CBS News on Sunday that 10% of the “base” tariff for all the imports that came into force a day earlier will definitely “stay in place for days and weeks”.
Lutnik continued to say that the broader reciprocal tariffs were still on the way.
The higher custom tariffs for approximately 60 countries, called the “highest offenders,” must come into force on Wednesday, April 9th.
When asked about these tariffs, Luni said they were coming. “(Trump) announced it and he wasn't joking,” he said.
“Maximum leverage”
Bestent uses an interview with Meet the Press on NBC to claim that Trump has “created a maximum leverage for himself, and over 50 countries have turned to the administration to reduce barriers that are not tariffs, reducing their rates, stopping the currency manipulation.”
Kevin Khaset, another top Trump economic adviser, also reiterated the claim that more than 50 countries have expressed a desire to start negotiations. Neither Khaset nor the rage is not more details of which countries were in a relationship.
Elsewhere, Indonesia and Taiwan have said over the weekend that they will not impose vengeful tariffs after the United States has announced a 32% import fee on both sides.
Vietnam's leader to Lam, asked Trump to delay a 46% debt on the US Vietnamese exports by “at least 45 days”, according to a letter observed by AFP news agency and The New York Times.
However, China announced on Friday that This will impose a 34% tariff To all US imports starting on Thursday, April 10.
The United Kingdom Prime Minister Sir Kiir Starmer warned Saturday that “the world, as we knew, went.”
Starmer said the UK government will continue to insist on an economic deal with the United States, which avoids some of the tariffs.
Downing Street spokesman added Starmer and the new Canadian Prime Minister Mark Carney agreed in a telephone conversation that “an entirely trade war is in the interest of anyone.”
Israeli Prime Minister Benjamin Netanyahu is expected to meet Trump for trade negotiations in Washington on Monday.
Netanyahu, speaking to reporters as he embarked on a plane tied to the United States, said he was “the first international leader to meet Trump” after the new tariffs were introduced.
He says this shows their “personal connection and the connection between our countries, which is so important at this time.”
ReutersTrump protests were held in cities in the US Over the weekendIn the largest national show of the opposition, since the president took office in January.
Hundreds of thousands of people found themselves in Boston, Chicago, Los Angeles, New York and Washington, among other cities, with protesters citing complaints with Trump's agenda, ranging from social to economic matters.
Trump has called on the United States to “hang hard” after the market, but it remains to be seen as the Asian markets will react when they open on Monday.