Trade policies: (From left) Netanyahu meets with Trump, vice-president JD Vance and State Secretary Marco Rubio at the White House in Washington. Netanyahu says Israel could serve as a model for other countries on how to approach the trade dispute. — AP
WASHINGTON: US president Donald Trump says he isn’t considering a pause on his plan to implement sweeping additional tariffs on dozens of countries despite outreach from trading partners eager to avoid the levies, while still signalling he could be open to some negotiations.
“We’re not looking at that,” Trump said on Monday while meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office.
Trump said tariffs were “very important” to his economic agenda – and would generally remain – while opening the door to “fair deal and good deals with every country”.
“There can be permanent tariffs and there can also be negotiations because there are things that we need beyond tariffs,” he added.
Trump’s comments follow mixed messages from the President and his top officials about the administration’s willingness to negotiate with trading partners, with a 10% levy on all countries already in effect and targeted reciprocal import taxes.
That uncertainty has fuelled volatility in global markets and left foreign leaders frustrated by Trump’s approach rushing to secure deals with the United States.
In the meeting, Netanyahu said his country would work to eliminate trade barriers and deficits with the United States.
“We will eliminate the trade deficit with the United States,” Netanyahu told reporters.
“We intend to do it very quickly. We think it’s the right thing to do. And we’re going to also eliminate trade barriers.”
But, underscoring the difficulty of divining Trump’s intentions, the president said even that might not be enough for him to reduce tariffs on the longtime US ally.
“Maybe not, don’t forget, we help keep Israel alive,” Trump said, adding that the US gives Israel “billions of dollars a year” in defense assistance.
Minutes later, Trump said “we do take care of our friends.”
Asked directly if it would be possible for countries to reduce their tariffs below the flat 10% floor, Trump sidestepped the question while emphasising what he saw as the benefits of the levies.
“Tariffs will make this country very rich,” Trump said.
The yo-yo approach with one of Trump’s closest political allies illustrated the chaotic approach that has befuddled markets, and the difficulty facing even one of the US’ staunchest partners.
Trump did signal that some nations would face significant challenges in getting the tariffs removed.
He reiterated his threat to impose “additional” 50% tariffs on China if Beijing did not withdraw a 34% retaliatory duty on US goods.
And after earlier in the day speaking with Japanese Prime Minister Shigeru Ishiba to open Cabinet-level trade talks, Trump on Monday railed against the country’s barriers on US agricultural products.
Netanyahu is the first foreign leader to visit the White House since the US President last week unveiled a new slate of levies on other nations that have sent global markets into a tailspin and raised fears of a recession.
Netanyahu’s visit and his ability to secure a deal with Trump that could spare his country in the trade fight was being closely watched by other US trading partners, hopeful that an agreement between those countries could provide a framework for other nations.
Netanyahu expressed optimism that Israel could “serve as a model for many countries” on how to approach the trade dispute.
Trump has set a high bar for any agreements, saying last week that he was open to tariff cuts in return for “phenomenal” offers and on Sunday claimed that other countries would need to eliminate bilateral trade deficits and non-tariff barriers. — Bloomberg
