Michaela
In response to President Donald Trump’s recent US tariff announcement, administration officials defended the decision, emphasizing that it has led to a surge in trade negotiations from impacted countries.
On April 2, President Trump announced a sweeping new US tariff policy aimed at reshaping U.S. trade relations and boosting domestic manufacturing. The move includes a baseline 10% tariff on nearly all imported goods, with steeper rates for specific countries based on trade imbalances. Notably, imports from Japan, the European Union, and Israel will face tariffs ranging from 17% to 24%. A separate 25% tariff was also imposed on all foreign-made automobiles.
In addition, Trump introduced a targeted tariff of 25% on any country purchasing oil or gas from Venezuela, citing national security concerns and accusing the Maduro regime of fueling criminal activity that reaches the U.S. border.
The announcement sparked backlash from international leaders and raised concerns among economists, who warn that the US tariff could spark retaliatory trade actions, disrupt supply chains, and drive up costs for American consumers.
Several countries were among the first to face the 10% tariff imposed by the United States, including Australia, the United Kingdom, Brazil, Colombia, Argentina, and Saudi Arabia — even though each posted a goods trade deficit with the U.S. last year.
However, according to U.S.-based political journalism organization Politico several of the President’s administration officials have defended his actions. “We’ve got 50 countries that are burning the phone lines into the White House up,” Agriculture Secretary Brooke Rollins said on CNN’s “State of the Union.” “And probably the president’s cell phone as well, and probably Howard Lutnick as well. And I’ve heard from some as well.”
White House economic adviser Kevin Hassett confirmed that, as of Saturday night, the Office of the U.S. Trade Representative had informed him that over 50 countries had contacted President Trump to initiate trade negotiations. While Hassett acknowledged the outreach, neither he nor Rollins disclosed which countries had made the requests.
In an interview with Bloomberg, President Trump claimed that the U.S. has secured $7 trillion in investment commitments as a result of his administration’s tariff policy. He said the funds are slated for building auto plants, chip companies, and a range of other businesses, adding that a growing number of companies are moving operations into the country.
“We have a $1 trillion trade deficit with China. Hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I’m not going to make a deal,” President Trump said.
President Trump further stated that he had spoken with multiple leaders from Europe, Asia, and other regions, claiming that many countries are eager to engage in trade negotiations with the United States.
“But I said we’re not going to have deficits with your country. We’re not going to do that, because to me a deficit is a loss. We’re going to have surpluses or we’re at worst going to be break even,” President Trump stated.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
