Payam Javan: A senior White House economic adviser, Kevin Hassett, revealed on Sunday that over 50 countries have reached out to the Trump administration to negotiate following the announcement of widespread tariffs last week. The tariffs, which include a minimum 10 percent levy on all trading partners and higher rates for around 60 nations, have prompted responses from leaders like Vietnam’s top official, who pledged to reduce tariffs on the U.S. to zero, and Thailand’s Prime Minister, who expressed readiness to discuss trade adjustments. Hassett, speaking on ABC News’ “This Week,” emphasized that these countries are reacting because they bear significant tariff costs, while nations like Canada and Mexico remain exempt due to prior 25 percent tariffs aimed at addressing immigration and drug trafficking issues.

The tariff announcement has sparked varied global reactions and economic shifts. Taiwan’s President offered zero tariffs to initiate talks, while the UK’s Prime Minister Keir Starmer described a measured response to the relatively lower 10 percent levy on his country. Hassett highlighted positive U.S. economic indicators, including a strong jobs report and the creation of 10,000 auto jobs since Trump’s inauguration, suggesting the tariffs may be boosting domestic employment. However, financial markets reacted sharply, with the Dow Jones dropping 4,000 points over two days, alongside significant declines in the Nasdaq and S&P 500, reflecting uncertainty despite Hassett’s assurance that consumers are unlikely to face major price hikes due to supply and demand dynamics.