Despite criticism and concerns about a global recession, US President Donald Trump's counterpart tax policies are forcing more than 50 countries to urgently approach Washington to open trade negotiations.
This information was revealed by senior officials in the Donald Trump administration on the morning of April 6 on a series of political programs of US and world television.
White House officials said some of the tariffs set by US President Donald Trump could only last for "more days and weeks".
More than 50 countries have been directly contacted by the White House to begin negotiations, said US Treasury Secretary Scott Bessent.
Although he did not name specific countries, Mr. Bessent affirmed that these tariffs have given the US "maximum leverage" in negotiations.
The Trump administration's strategy is to create so much economic pressure that trading partners are forced to make grants. The 10% tax rate has been applied since April 5 at US seaports, airports and foreign warehouses, officially marking the abandonment of the post-World War II free trade system based on multilaterally agreed tariffs.
Despite being described as a strate national flag, President Trumps tariff measures have caused a backlash in financial markets. In just last week, US stock indexes lost nearly $6,000 billion in value - a shocking decline.
Global markets were also hit hard, prompting concerns about the risk of a global recession.
JPMorgan experts have lowered the US GDP growth forecast from 1.3% to -0.3%. However, the Trump administration remains optimistic, citing the "expected" job growth figures as a denial of the risk of recession.
Before the tariff whirlwind, some close US allies such as Israel, India and Italy quickly showed goodwill to negotiate. Israeli Prime Minister Benjamin Netanyahu has called for a 17% tariff exemption on Israeli goods.
Notably, some tax rates are said to be applied even to remote territories with no residents - causing public questions about the transparency and method of determining taxable subjects.
In response to the concerns, Commerce Minister Howard Lutnick spoke out to defend the strategy, saying it was a way to close the olations that countries could take advantage of to evade taxes.
