Greater than 50 nations have contacted america to barter following President Donald Trump’s sweeping new tariffs introduced earlier this week, in keeping with White Home financial adviser Kevin Hassett.
The ten% “base” tariff on most U.S. imports has drawn swift backlash all over the world. Whereas some nations have hinted they may retaliate, others, equivalent to Indonesia and Taiwan, have signaled they need to keep away from escalating commerce tensions and have mentioned they won’t impose retaliatory tariffs.
Whereas Israeli President Benjamin Netanyahu reportedly went to Washington to carry direct commerce talks with Trump, British Prime Minister Keir Starmer painted a sobering image in his speech to Parliament: “The world as we all know it has disappeared,” Starmer mentioned, including that the British authorities was able to take motion to guard the nationwide economic system from attainable impacts.
Economists warn that the tariffs might result in greater costs for U.S. shoppers and disrupt provide chains. Markets have been unstable after the announcement, with Trump addressing the nation on social media. “Maintain on tight, that is an financial revolution. It received’t be simple, however the final result will probably be historic,” the president mentioned whereas enjoying golf in Florida on Saturday.
In the meantime, talking to an Italian viewers simply hours after the tariffs went into impact, Elon Musk expressed hope for a “tariff-free scenario” between the U.S. and Europe sooner or later. The Tesla and SpaceX CEO, who has served as a casual adviser to Trump on commerce and innovation, mentioned a freer commerce surroundings stays a great long-term purpose.
*This isn’t funding recommendation.
