Talks of new trade deals with U.S. partners drove stock prices up Tuesday morning after a few days of panic in the wake of Trump 2.0’s tariff announcements.
The Dow Jones Industrial Average was 1,400 points, or 3.6%, higher, while the S&P 500 and Nasdaq Composite were up 3.7% and 4.3%, respectively.
According to reports, multiple countries are reaching out to the White House to negotiate on tariffs and strike more favorable trade deals for the U.S.
On Tuesday morning, President Trump spoke to the acting President of South Korea.
“I just had a great call with the Acting President of South Korea,” Trump said in a post on TRUTH Social. “We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea.”
Trump continued:
They began these Military payments during my first term, Billions of Dollars, but Sleepy Joe Biden, for reasons unknown, terminated the deal. That was a shocker to all! In any event, we have the confines and probability of a great DEAL for both countries. Their top TEAM is on a plane heading to the U.S., and things are looking good. We are likewise dealing with many other countries, all of whom want to make a deal with the United States. Like with South Korea, we are bringing up other subjects that are not covered by Trade and Tariffs, and getting them negotiated also. “ONE STOP SHOPPING” is a beautiful and efficient process!!! China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen! GOD BLESS THE USA.
Trump’s post comes after he threatened to impose an additional 50% duty on U.S. imports from China if Beijing did not remove the 34% tariffs it instituted on U.S. products last week.
Beijing retaliated after Trump announced 34% tariffs against China on top of the 20% already imposed against the country earlier this year.
Treasury Secretary Scott Bessent told Larry Kudlow this week that more than 70 countries have reached out to the U.S. about new trade deals.
“I can tell you that there are 50, 60, maybe almost 70 countries now who have approached us,” Bessent said during an interview with Larry Kudlow on Fox Business.
Watch the lip below:
Almost 70 countries have now approached us wanting to help rebalance global trade.
On behalf of @POTUS, I'm glad to join @USTradeRep to open talks with Japan as we work to enact the President’s vision for a new Golden Age of Global Trade.pic.twitter.com/PGUGjh7JkH
— Secretary of Treasury Scott Bessent (@SecScottBessent) April 7, 2025
This story is developing…
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