50 Nations Challenge Trump
- – The United States has received overtures from more than 50 countries seeking to initiate trade discussions, according to Kevin Hassett, director of the National Economic Council.
- Hassett refuted suggestions that the tariff policies were designed to manipulate financial markets or pressure the Federal Reserve to lower interest rates.
- Riyadh – The Saudi stock market experienced a sharp decline of 6.78% in Sunday trading, triggered by the proclamation of new trade tariffs by U.S.
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Global Trade Tensions Rise as Countries React to U.S. Tariff Measures
White House Fields Inquiries from Over 50 Nations on Trade Negotiations
Washington D.C. – The United States has received overtures from more than 50 countries seeking to initiate trade discussions, according to Kevin Hassett, director of the National Economic Council. Speaking on ABC News’ ”This Week,” Hassett indicated that the interest stemmed from a recognition that existing tariffs disproportionately burden these nations. He downplayed concerns about the impact on American consumers, suggesting that the U.S. trade deficit is driven by inelastic supply dynamics in other countries.
Hassett refuted suggestions that the tariff policies were designed to manipulate financial markets or pressure the Federal Reserve to lower interest rates. He asserted the central bank would not be subject to “political coercion.”
Saudi Stock Market Plunges Amid Tariff concerns
Riyadh – The Saudi stock market experienced a sharp decline of 6.78% in Sunday trading, triggered by the proclamation of new trade tariffs by U.S. President Donald Trump. This marks the most meaningful single-day drop in five years, sence the initial outbreak of the COVID-19 pandemic.
EU Chief Expresses “Profound Concern” to UK’s Starmer Over Tariffs
Brussels – European Commission President Ursula von der Leyen spoke with British Prime Minister Keir Starmer by telephone to discuss the escalating tariff situation. Von der Leyen conveyed her “profound concern” that the tariffs represent a “significant turning point” in international trade relations. She affirmed the European Union’s commitment to negotiating with the U.S. but cautioned that the EU is prepared to implement “proportionate countermeasures” to protect its interests if necessary.
EU Foreign Affairs Council to Convene Emergency Meeting on Trade
luxembourg – Antonio Tajani, Vice President of the Council and Italian Minister of Foreign Affairs and International Cooperation, will attend an unusual meeting of the Foreign Affairs Council in Luxembourg tomorrow. Convened by the Polish Presidency, the council will address EU-US and EU-China trade relations. A key focus will be analyzing the “mutual duties” announced by president Trump on April 2, with the goal of formulating a unified and pragmatic response, according to a statement from Farnesina.