President Donald Trump stated that he is not considering a pause on his plan to implement sweeping additional tariffs on dozens of countries, despite outreach from trading partners eager to avoid these levies. However, he indicated he might be open to certain negotiations.
Tariff Policy Remains a Priority
“We’re not looking at that,” Trump said during a meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office. Trump emphasized that tariffs are “very important” to his economic agenda, but didn’t rule out the possibility of “fair deals with every country.” He added that “there can be permanent tariffs and there can also be negotiations because there are things that we need beyond tariffs.”
Trump’s comments follow mixed signals about the administration’s willingness to negotiate with trading partners, with a 10% levy on all countries already in effect and targeted reciprocal import taxes set for Wednesday.
Market Uncertainty and Allies’ Responses
The uncertainty has caused volatility in global markets and prompted foreign leaders to rush to secure deals with the US. Netanyahu stated that his country would eliminate the trade deficit with the US and remove trade barriers.
Trump, however, stressed that even that might not be enough to reduce tariffs: “Maybe not, don’t forget — we help keep Israel alive,” Trump said, noting that the US provides Israel with “billions of dollars a year” in defense assistance.
Challenging Path for Trading Partners
Trump indicated that some countries would face significant challenges in getting tariffs removed:
- He reiterated the threat to impose “additional” 50% tariffs on China if Beijing doesn’t withdraw 34% retaliatory duties
- He criticized Japanese barriers on US agricultural products
Netanyahu’s visit was closely watched by other US trading partners hoping that an agreement could provide a framework for other nations.
Trump Sets a High Bar
Trump has set high standards for any agreements:
- He is open to tariff reductions in exchange for “phenomenal” offers
- Other countries must eliminate bilateral trade deficits and non-tariff barriers
Regarding the EU’s offer to reduce car and industrial goods tariffs to zero, Trump responded that this concession would not be enough: “We have a deficit with the European Union of $350 billion — it’s going to disappear fast,” he promised.
The meeting concluded a tumultuous day with US stocks fluctuating wildly due to headlines related to Trump’s trade policies.
