In a dramatic turn of events following President Donald Trump’s new tariff rollout, over 50 countries have reportedly reached out to the U.S. to initiate trade negotiations. Despite global market turmoil and a staggering $6 trillion loss in U.S. stock value last week, Trump’s administration is presenting the controversial tariffs as a bold and strategic move to reset America’s position in global trade.
Treasury Secretary Scott Bessent, speaking on NBC’s Meet the Press, revealed that dozens of nations had approached the U.S. seeking trade discussions since the tariffs were announced on Wednesday. Though he did not specify which countries were involved, Bessent emphasized that President Trump now holds a “maximum leverage” advantage in global trade talks.
Trump’s decision to impose sweeping tariffs — including a blanket 10% on all imports and higher country-specific duties ranging from 11% to 50% — has rattled global markets. The S&P 1500, one of the broadest U.S. market indexes, suffered its worst loss since the pandemic in 2020, shedding nearly $10 trillion in value since mid-February.
Despite the economic aftershocks, Trump’s advisers are downplaying fears of a recession. Bessent cited strong U.S. job growth as a sign of resilience, while Commerce Secretary Howard Lutnick described the tariff rollout as temporary and strategic, potentially lasting “days or weeks.” Lutnick argued the wide coverage of the tariffs — even extending to uninhabited islands — was designed to prevent loopholes that countries like China might exploit.
Some world leaders have already begun adapting to the new reality. Taiwan’s President Lai Ching-te offered to eliminate all trade barriers with the U.S., seeking zero-tariff access in return. Israel’s Prime Minister Benjamin Netanyahu is scheduled to meet Trump on Monday to negotiate relief from a 17% tariff on Israeli goods. Meanwhile, India has chosen not to retaliate against the new tariffs and is actively pursuing a deal, according to a government source.
Italy’s Prime Minister Giorgia Meloni, a close Trump ally, pledged to protect Italian businesses affected by a 20% tariff on EU goods. At a wine trade fair in Verona, Italian producers expressed concern over falling demand from the U.S. and fears of lasting damage to their industry.
Still, the chaotic rollout has raised eyebrows. Some tariffs were mistakenly applied to obscure locations, including remote Antarctic islands, triggering criticism over the administration’s process. Yet, Lutnick defended the broad scope, stating that even tiny regions can be exploited as backdoors for tariff avoidance.
Meanwhile, Trump spent the weekend golfing in Florida and posting videos on Truth Social, one of which hinted that market turmoil could pressure the Federal Reserve into lowering interest rates — an idea his advisers firmly denied was part of the strategy.
As Asian markets brace for another volatile week, the world watches to see whether these aggressive tariffs are a stepping stone to new trade deals or the beginning of a long-term trade war.
