Trump Tariffs Trigger Market Chaos — 50+ Nations Rush to White House for Trade Talks

More than 50 countries have reached out to the White House to open trade discussions following President Donald Trump’s announcement of sweeping new tariffs on U.S. imports. The disclosure was made Sunday by National Economic Council Director Kevin Hassett, as the administration worked to defend the sudden policy shift that has triggered global economic concerns.

Hassett, speaking in an interview on ABC News, said the international response is a clear sign that the administration’s tariff strategy is drawing attention and prompting action. His remarks came amid growing criticism and sharp market losses following the rollout of aggressive import duties last Wednesday.

Since the announcement, U.S. stock markets have fallen by roughly 10% — the sharpest drop since the early months of the COVID-19 crisis — with investors rattled by fears of a prolonged trade war and rising inflation.

Addressing speculation that the tariffs were part of a strategy to destabilize financial markets and force the Federal Reserve to lower interest rates, Hassett strongly denied the claim. The theory gained traction after Trump reposted a video suggesting such a tactic on his Truth Social account.

“There’s no political pressure on the Fed,” Hassett said. “This is about reshaping trade relationships, not targeting financial markets.”

Meanwhile, Treasury Secretary Scott Bessent appeared on NBC’s Meet the Press to downplay the market decline and reassure the public that a recession is not on the horizon.

“We had job growth numbers that exceeded expectations,” Bessent said. “That kind of performance does not point to an economy heading into recession.”

The administration’s decision to impose broader tariffs was met with swift retaliation from China and warnings from other trading partners. But while some governments prepare countermeasures, others are taking a different approach.

Taiwan’s President Lai Ching-te offered to remove all tariffs as a starting point for negotiations with the U.S., pledging to dismantle trade barriers and increase Taiwanese investment in American industries.

Despite concerns from economists that the tariffs could lead to higher consumer prices, Hassett argued that exporters are more likely to adjust their pricing strategies to remain competitive in the U.S. market.

“Foreign suppliers want access to American buyers,” he said. “They’re going to make adjustments to stay in the game.”

Markets remain volatile heading into the new week, with investors closely watching for further policy signals and potential fallout. The sudden move has unsettled what had been a relatively stable trading environment, and analysts warn that prolonged uncertainty could weigh on business investment and consumer confidence.

Still, inside the White House, officials view the flurry of diplomatic contact as a sign that the tariff plan is having its intended effect.

“These countries aren’t ignoring the shift,” Hassett said. “They’re calling the White House and asking for a seat at the table — and that’s exactly the kind of leverage this strategy was designed to create.”

Also Read: S&P Global to Revise World Economic Forecasts After U.S. Tariff Surprise