In the lead-up to Donald Trump’s “liberation day”, a flurry of diplomats and foreign representatives converged on Washington, eager to secure a deal that the president would find irresistible and that would exempt them from his tariffs.
Their efforts were in vain. Utilizing seldom-used emergency powers, Trump imposed tariffs ranging from 10 percent to 50 percent on nearly every country, targeting a global trading system he claimed had been exploiting the US for decades.
Now, the global community is questioning whether Trump seeks to uphold the tariffs or simply aims to negotiate — a query that has grown increasingly pressing following the sharp decline in global equity markets after his tariff announcement.
However, just two days post-announcement, US officials are indicating that international agreements are not a priority for the president, even though Trump engaged in discussions with Vietnam’s leader, To Lam, on Friday.
Trump characterized his initial conversation with a foreign leader since Wednesday’s announcement as “productive”, especially after Lam proposed eliminating Hanoi’s tariffs on US products entirely.
Yet, White House officials warned that the president’s willingness to “pick up the phone” to speak with foreign leaders should not be mistaken for substantial negotiations that might lead to a reduction in tariffs.
The focus of the White House remains on enforcing these tariffs, suggesting that any agreement to modify these measures will require high standards.
“President Trump is always open to taking calls from foreign leaders and discussing potential deals, but it does not become a negotiation until both sides are seriously engaged,” explained one White House official.
Earlier, Trump reinforced his significant tariffs, even as he sparked the most severe drop on Wall Street since the onset of the COVID-19 pandemic in 2020.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” Trump wrote on his Truth Social platform. “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!”
Officials have made clear that the tariffs — enacted through the US’s International Emergency Economic Powers Act — are a response to years of purportedly unfair trade practices by major partners and allies, aimed at revitalizing US manufacturing and increasing American employment.
“This is not a negotiation,” asserted a senior White House official on Wednesday. “It’s a national emergency.”
One individual familiar with the administration’s perspective noted that Trump recognized that in order to entice companies to shift their manufacturing operations back to the US, the tariffs must be enduring. “Businesses require certainty that this is the new policy landscape,” the individual stated.
The White House official asserted that the US is not engaged in discussions with other nations regarding “specific concessions”. “Our focus is on trade deficits,” they noted.
Scott Bessent, the US Treasury secretary, recently dismissed the likelihood of rapid negotiations with key trading partners aimed at reducing the imposed tariffs.
“The discussions with other countries are less critical than those with companies,” Bessent remarked in an interview with Tucker Carlson, a right-leaning media personality, that aired on Friday.
Bessent’s efforts to calm markets have been restricted to earlier assurances that tariffs would only rise for nations that retaliated against US trade measures — asserting that the tariffs implemented this week represent the maximum limit.
In response to the new tariffs of 34 percent on Chinese imports, Beijing levied its own countermeasure, imposing a 34 percent tariff on all imports from the US.
Trump expressed his displeasure on social media, stating, “CHINA PLAYED IT WRONG, THEY PANICKED — THE ONE THING THEY CANNOT AFFORD TO DO!,” on Truth Social.
Bessent explained to Carlson that the ideal situation would be a significant agreement promoting a rebalancing of Beijing’s economic model, but cautioned that this development would not occur “in a month”; rather, it might take “a few years” for China to adjust.
He added, “The Europeans will resist, but I believe they will also need to rebalance.”
The communication has not dissuaded diplomats and business leaders from reaching out to the president in recent days.
The EU’s chief trade diplomat, Maroš Šefčovič, held discussions with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer on Friday. Šefčovič indicated the bloc’s commitment to “meaningful negotiations”, according to a summary of the meeting.
Everett Eissenstat, a former trade official during Trump’s first term and currently a partner at Squire Patton Boggs, believes the president remains open to forming deals.
However, he warned: “Ultimately, I also believe that tariffs will be elevated, resulting in a distinctive approach from President Trump, featuring a universal tariff that allows for negotiating flexibility.”
