The nation’s Treasury Secretary has claimed that "50, 60, maybe almost 70 countries” have reached out to the Trump administration seeking to negotiate trade deals amid the ongoing financial chaos caused by the president’s sweeping international tariffs.
Scott Bessent said that Japan, which was one of the several countries singled out by the president during his announcement of the levies, had been one of the first to make contact and would likely be prioritized with negotiations as a result.
The news of possible pacts sent the stock markets surging with the Dow Jones up more than 1,000 points Tuesday. It came a day after Trump threatened China - but the Asian nation has said it refuses to back down.
Speaking to Fox Business’ Larry Kudlow, Bessent said that the president was "better than anyone at giving himself maximum leverage,” adding that the tariffs outlined on April 2 were to give countries “several days to think about it.”
"As I advised on many shows on April 2, I suggested that the foreign officials keep your cool,” he said.
“That you do not escalate and come to us with your offers on how you’re going to drop tariffs, how you’re going to drop non-tariff barriers, how you’re going to stop your currency manipulation, how you’re going to stop the subsidized financing, and at a point, President Trump will be ready to negotiate.”
Trump revealed on Truth Social Monday that he had spoken to Japanese Prime Minister Shigeru Ishiba, while saying the country had treated America “very poorly.”
Bessent told Fox News that he and Trade Representative Jameson Greer would now be leading tariff negotiations with the country, but the president would continue to be involved.
The Treasury Secretary said there had not yet been any specific offer from Japan but added that "50, 60, maybe almost 70 countries now have approached us." He did not specify other nations.
"So it’s going to be a busy April, May, maybe into June," Bessent said.
Japan is likely to “get priority" with negotiations "because they came forward very quickly," Bessent added, noting the important military and economic ties between the two nations.
"I'll reiterate what I saw last week for countries that don't retaliate,” he said. “We are at a maximum tariff level, and it is my hope that through good negotiations, all we will do is see levels come down. But that's going to depend on the other countries.”
“And you know, President Trump is going to be personally involved in these negotiations, and he believes, as many of us do, that there's been an unfair playing field, so the negotiations are going to be tough.”
The Independent has contacted the White House for further information about the potential deals with other nations.
