Business
Is Trump’s ‘Art of the Deal’ Working? Countries Push for Zero Tariffs
By Jake Beardslee · April 5, 2025
Trump’s Tariff Policy Draws Interest from Foreign Trade Partners
President Donald Trump’s aggressive tariff strategy appears to be drawing results, as multiple countries are now reportedly interested in eliminating tariffs on U.S. goods — provided the U.S. does the same in return. Mandi Wright / USA TODAY NETWORK via Imagn Images
White House Rolls Out 10% Baseline Tariff with Reciprocal Measures
Trump introduced a new policy this week aimed at recalibrating international trade imbalances. Trump’s plan imposes a 10% baseline tariff on imports across the board, with additional reciprocal tariffs designed to mirror the rates other countries place on American products. “What we have is we have a set of tariffs based on what they have been charging us. That’s reciprocal,” Trump said Thursday, adding, “Tariffs give us great power to negotiate.” Mohamed_hassan / Pixabay
Markets React as Trump Stands Firm on New Tariff Plan
Despite a sharp downturn in U.S. stock markets following the announcement, Trump emphasized his commitment to the plan, stating, “The rest of the world wants to see is there any way to make a deal.” Mandi Wright / USA TODAY NETWORK via Imagn Images
Vietnam Expresses Openness to Zero Tariffs After Call with Trump
One sign the strategy may be yielding results came Friday, when Trump posted on Truth Social about a phone call with Vietnam’s General Secretary To Lam. “Just had a very productive call with To Lam... who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.,” Trump wrote. He previously claimed that Vietnam currently charges American goods a 90% tariff — compared to the U.S.'s proposed 46% in response. Minh Hoang / European Communities, 2024 / EC - Audiovisual Service / Wikimedia
Argentina in Talks to Establish Reciprocal Tariff Agreement with U.S.
Argentina, under President Javier Milei, is also reportedly in talks to become the first nation to implement zero reciprocal tariffs with the U.S. Currently, Argentina imposes a 10% tariff on U.S. imports, a figure the Trump administration says it will now match. argentina.gob.ar Gobierno argentino / Wikimedia
Israel Announces End to Tariffs on U.S. Imports Following U.S. Policy Shift
In a move seemingly timed with Trump's announcement, Israel revealed it will eliminate all remaining tariffs on U.S. goods, per Fox Business. Trump’s team notes that Israel levies tariffs as high as 33% on some U.S. items, and plans to respond with a 17% tariff. AbsolutVision / Pixabay
Former Commerce Secretary Sees Tariffs as First Step in Larger Negotiations
Former Commerce Secretary Carlos Gutierrez, who served under President George W. Bush, told CNBC he views Trump’s strategy as the opening gambit in larger negotiations. “It’s the opening step,” he said. “I would assume that this will not be in place in a month, two months... this is the beginning of a big negotiation.” Gutierrez also suggested the 10% flat tariff may remain in place long-term as a revenue source. Department of Commerce / Wikimedia