Tariff boom: 50 countries seek US deals

Shafaq News/ Over 50 countries have approached the White House recently to initiate trade negotiations, the head of the US National Economic Council, Kevin Hassett, said on Sunday.

In an interview with ABC News, Hassett dismissed suggestions that the newly announced tariffs are intended to pressure the Federal Reserve into cutting interest rates. He insisted the measures are rooted in clear economic strategy and are unrelated to US monetary policy.

Hassett said the administration is refraining from imposing tariffs on Russia for now, citing sensitive negotiations underway involving Ukraine. “This reflects a diplomatic balancing act as we navigate complex economic and political issues,” he noted.

US Treasury Secretary Scott Bessent downplayed the market reaction following the announcement, as US stocks dipped. “There is no justification for recession fears tied to the tariff move,” Bessent told Reuters.

Last week, President Donald Trump unveiled a 10% tariff on all US trading partners, effective from Saturday, with additional levies expected to target roughly 60 more countries within the coming week.