A senior advisor to US President Donald Trump said dozens of countries have contacted the White House seeking to renegotiate new US tariffs. Chip-making Taiwan says it wants to cut tariffs to zero.
Trump adviser: White House inundated with calls seeking fresh trade talks EU ready with “proportionate countermeasures,” says von der Leyen Netanyahu will urge Trump to cut tariffs on Israel during talks next week Chip leader Taiwan says it will seek zero-tariff deal with US
Here are the latest developments following the new round of Trump tariffs on Sunday, April 6:
European Union chief Ursula Von der Leyen said the bloc is prepared to “defend its interests with proportionate countermeasures” against Trump’s tariffs and will work with partners towards this end.
The president also reaffirmed the EU’s “commitment to engaging in negotiations with the US.”
The Commission, which also coordinates the bloc’s trade policy, is due to propose to EU states on Monday a list of US products, worth $28 billion (€25.6 billion), to hit with extra duties.
The imports targeted include US meat, cereals, wine, wood and clothing, among other goods.
Those retaliatory measures are in response to Trump’s steel and aluminum tariffs rather than the broader reciprocal levies announced last week.
The 27-nation EU faces 25% tariffs on steel, aluminum and car exports and “reciprocal” tariffs of 20% from Wednesday for almost all other goods.
The new US tariffs will cover more than two-thirds of EU exports to the US.
On Monday, Luxembourg will host the first meeting of EU trade ministers since Trump’s sweeping tariffs were announced, where ministers are expected to push for a unified response.
Dozens of countries have so far reached out to renegotiate tariffs with the United States, a senior economic advisor to US President Donald Trump said.
National Economic Council Director Kevin Hassett told ABC News that Trump’s tariffs had so far driven “more than 50” countries to contact the White House to begin trade talks.
Hassett also denied that Trump hoped the new tariffs would crash financial markets to pressure the Federal Reserve to cut interest rates.
He insisted there would be no “political coercion” of the US central bank.
In a Truth Social post on Friday, Trump shared a video that suggested his tariffs aimed to hammer the stock market on purpose in a bid to force lower interest rates.
US stocks tumbled by around 10% on Thursday and Friday, after Trump announced a new global tariff regime that was more aggressive than investors had been anticipating.
Welcome to our coverage
Thank you for joining us as we bring you the latest developments on US President Donald Trump’s sweeping tariff plan, that has sent shockwaves around the world.
As nations digest the impact of the punitive new levies, several leaders have spoken about the desire to cut their own tariffs on imports from the US.
Investors, meanwhile, are nervously awaiting the opening of financial markets on Monday, after large falls in stock prices late last week, following the announcement.