Despite a flurry of diplomacy in Washington ahead of US President Donald Trump’s “liberation day” tariff rollout, no country managed to secure an exemption, and White House officials now say the sweeping trade measures—imposed using emergency powers—are not a negotiation tactic but a long-term policy shift aimed at reshaping global commerce in America’s favour, the Financial Times reported.
No deals despite global outreach
Foreign diplomats rushed to Washington in recent weeks to try to avert Trump's tariffs, but none succeeded. The levies—ranging from 10% to 50%—target nearly every country, including allies, as Trump blamed decades of “unfair trade” for hollowing out US manufacturing. Even after a call with Vietnam’s President To Lam, in which Hanoi offered to drop its tariffs on US goods to zero, the White House downplayed the possibility of any formal negotiation, saying such calls don’t equate to actual deal-making.
Markets plunge, but Trump doubles down
Wall Street suffered its worst losses since the COVID-19 crisis, but Trump remained defiant. On Truth Social, he declared his policies permanent, telling investors “THIS IS A GREAT TIME TO GET RICH.” The administration insists the tariffs are not temporary leverage but a structural shift intended to reassure companies that the US is serious about reshoring manufacturing.
A new trade regime, not a bargaining tool
“The thing we are looking at is trade deficits,” a senior White House official said, dismissing discussions of concessions from foreign governments. Treasury Secretary Scott Bessent echoed that message, telling Tucker Carlson that the focus should be on how companies, not countries, respond. He called the "dream scenario" a fundamental rebalancing of China’s economy, acknowledging it could take years—not months.
China and others retaliate
China has already responded with 34% tariffs on US goods in retaliation for Washington’s 34% duties on Chinese imports. Trump claimed Beijing had “PANICKED” and made a mistake, though analysts warn the tit-for-tat measures could escalate tensions and drag on global growth. European officials, meanwhile, are seeking meaningful negotiations, with EU trade chief Maroš Šefčovič reaching out to US officials on Friday.
Diplomatic frustration meets domestic resolve
While diplomatic overtures continue, Trump’s team remains focused on implementing tariffs rather than easing them. Former Trump trade advisor Everett Eissenstat predicted that while some deals may emerge, “tariffs will be higher” in the end, forming a flexible but hardened trade regime unique to Trump’s style.
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