President Trump's negotiation strategy brought over 75 countries to the table

Scott Bessent: "And we saw the successful negotiation strategy that President Trump implemented a week ago. He has managed to bring over 75 countries to the negotiating table. It took great courage, great strength for him to stand firm until this point. And what we have achieved here — as I told everyone a week ago, in this very place — is: do not retaliate, and you will be rewarded.

So every country in the world that wants to come to the table, we are willing to hear them out. We will lower their base tariff to 10%, while China’s will be increased to 125% due to their insistence on escalation."

In recent months, President Donald Trump's administration has implemented a series of tariff measures that have significantly impacted the United States' trade relations with several countries:

China: In February 2025, President Trump imposed an additional 10% tariff on products imported from China, effective from February 4, 2025. This measure was added to existing tariffs under Section 301. In response, China imposed a 15% tariff on liquefied natural gas and coal, and a 10% tariff on crude oil, agricultural equipment, and certain large-engine automobiles.

Mexico and Canada: On November 25, 2024, President Trump announced his intention to impose a 25% tariff on all products imported from Mexico and Canada, citing concerns related to drug trafficking and migration. These actions created tensions within the United States-Mexico-Canada Agreement (USMCA), as both countries argued that such tariffs violated the agreement.

International Reactions: Canada responded by imposing retaliatory tariffs of 25% on U.S. products worth 30 billion Canadian dollars, targeting key exports like orange juice, peanut butter, and motorcycles. Mexico also announced plans for retaliatory measures, including tariffs and non-tariff restrictions, although specific details have not yet been revealed.

Allied Countries: Despite tensions, Treasury Secretary Scott Bessent expressed optimism that the Trump administration could negotiate tariff agreements with reliable military allies such as Japan, South Korea, and Vietnam, with the aim of forming a united front to address trade disputes with China.

Temporary Tariff Suspension: On April 9, 2025, President Trump announced a 90-day suspension of the implementation of most new tariffs, except for those on China, whose tariffs were increased to 125% due to Beijing's retaliatory actions. This temporary pause is intended to ease market concerns and create space for broader negotiations.