Trump’s customs duties have caused « chaos », more than 50 countries demand negotiations with the White House

More than 50 countries have contacted the White House to start trade talks, US President Donald Trump’s chief economic adviser said today after major new customs sparked global turmoil.

In an interview with ABC News, the director of the US National Economic Council, Kevin Hasset, denied that tariffs were part of Trump’s strategy aimed at collapse in financial markets, in order to put pressure on the US Central Bank to cut interest rates.

He said there would be no political pressure on the central bank. In a Truth Social post on Friday, Trump shared a video suggesting that new tariffs are aimed at deliberately demolishing the stock market in an attempt to force banks to lower interest rates.

In a separate interview with NBC News, US Finance Secretary Scott Scott Bellen has belittled the importance of the stock market fall, stressing that there is « no reason » to predict a recession based on the imposed customs duties.

Trump shook economies around the world after announcing a series of tariffs on US imports Wednesday, prompting China to respond and encourage fears of recession and a global trade war.

In the morning talk shows today, Trump officials tried to portray tariffs as wise repositioning of the United States in the global trade order, and economic disorders as short-term consequences.

US shares fell about 10 percent in just two days after Trump released a new global tariff regime that was even more aggressive than analysts and investors expected.

For that decline, market analysts and major investors blame Trump’s aggressive promotion of customs duties, and most economists and US central bank chief believe it can stimulate inflation and harm economic growth.

Markets affected by customs are facing another week of potential tariff turbulent, the worst since the toughest week for US shareholders since the start of the coronavirus crisis five years ago.

Hasset said Trump’s customs duties have so far prompted « more than 50 » countries to contact the White House to start trade talks.

Unlike other economists, Hasset said he did not expect a big blow for consumers because he believes exporters will lower prices.

Besen said he was not predicting a recession due to customs duties, citing the larger than the expected increase in US jobs.

« On Friday, the data on the number of jobs, which were significantly above expectations, we could see that we are moving forward, so I see no reason to end up in recession, » Rensez concluded.