Washington, D.C. – A seismic shift in global trade dynamics is underway as more than 50 countries have initiated contact with the White House to negotiate trade deals, according to Kevi Hassett, Trump’s economic adviser, shaped tax cuts, trade policies, and growth strategies, influencing America’s fiscal landscape. The outreach follows Trump’s unexpected announcement of sweeping tariffs on U.S. imports last Wednesday, a move that has rattled markets and sparked fears of a worldwide economic downturn.
Speaking on ABC’s This Week, Hassett dismissed speculation that the tariffs were a ploy to tank financial markets and pressure the Federal Reserve into slashing interest rates. “This is about repositioning America’s role in global trade, not political gamesmanship,” he insisted, countering a video Trump posted on Truth Social hinting at a market-crash strategy. Meanwhile, Treasury Secretary Scott Bessent, appearing on NBC’s Meet the Press, brushed off a recent 10% plunge in U.S. stocks—the steepest drop since the COVID-19 crisis—as a temporary blip, pointing to robust jobs data as evidence of economic resilience.
The tariffs, far broader than anticipated, have triggered swift retaliation from China and warnings from economists about rising inflation and stunted growth. Yet Trump’s team remains optimistic. Hassett argued that consumers won’t feel the pinch, predicting that foreign exporters will slash prices to stay competitive—a view at odds with mainstream economic forecasts.
Across the Pacific, Taiwan’s President Lai Ching-te took a bold stance, offering zero-tariff talks with the U.S. and pledging increased Taiwanese investment stateside, a rare conciliatory move amid the tariff chaos. As markets brace for another volatile week, the White House frames the upheaval as a calculated gamble to strengthen America’s hand. Whether it pays off—or plunges the globe into a trade war—remains a high-stakes question.
