OAN Staff James Meyers
10:09 AM – Tuesday, April 8, 2025
U.S. stocks shot up Tuesday morning after multiple reports have indicated overseas trading partners are now rushing to negotiate with President Donald Trump over his “reciprocal” tariffs.
Advertisement
The Dow Jones skyrocketed 1,238 points, 3.2%, after losing over 3,500 points since Wednesday as investors raised alarms over Trump’s “Liberation Day” taxes.
The S&P 500 rose 3.3%, and Nasdaq 100 futures jumped 3.6% following reports of negotiations across multiple countries and possible concessions from major trade partners.
This comes as stocks have been extremely volatile after the 47th president announced his latest tariffs as of yet, including a 10% baseline tax on all imports that took effect over the weekend and harsher tariffs on other nations that are set to go into effect on Wednesday.
Meanwhile, markets tanked Monday morning after Trump signaled over the weekend that his tariffs wouldn’t be revoked anytime soon, but news of trade discussions with other countries once again increased hopes that the tariffs could be negotiated lower.
Furthermore, the president said he spoke with Japanese Prime Minister Shigeru Ishiba Monday morning to discuss the tariffs.
Treasury Secretary Scott Bessent later said Trump asked him and the U.S. trade representative to “open negotiations” with Ishiba and his cabinet and that he was tasked with leading trade talks with Japan, which is facing a 24% “Liberation Day” levy.
“Japan remains among America’s closest allies, and I look forward to our upcoming productive engagement regarding tariffs, non-tariff trade barriers, currency issues, and government subsidies,” Bessent said in a post on X.
The country of Indonesia appeared eager to get to the negotiating table ahead of Trump’s 32% tax on the country, which is set to take effect Wednesday.
As a result, the Southeast country will be sending a high-level delegation to the U.S. next week to establish a new deal. On Tuesday, it announced several concessions, including buying more from the U.S. and lowering import taxes.
Indonesia is planning on lowering import taxes on steel, mining products, and health equipment from the U.S., and electronics, mobile phones, and laptops from any country, Finance Minister Sri Mulyani Indrawati added.
She also alluded to the fact that there’s opportunity in these negotiations for Indonesia to replace manufacturing-dominant Vietnam, Bangladesh, Thailand, and China as a prominent source of exports to the U.S..
Additionally, Vietnam also offered further concessions after White House trade adviser Peter Navarro said its initial offer to ax tariffs on the U.S. altogether was not enough.
“When they [Vietnam] come to us and say ‘We’ll go to zero tariffs,’ that means nothing to us because it’s the non-tariff cheating that matters,” Navarro told CNBC’s “Squawk Box.”
However, investors were pleased to hear that Vietnam could avoid Trump’s 46% tariff, as Vietnam late Monday offered to buy more U.S. goods, including security and defense products, as it seeks an 11th-hour pause on the tax.
Vietnam will “approach and negotiate with the U.S. to reach a bilateral agreement, moving towards a sustainable trade balance,” Prime Minister Pham Minh Chinh said in a statement.
It would also “continue to buy more U.S. products that are strong and Vietnam has demand for, including products related to security and defense; promote early delivery of aircraft trade contracts,” the prime minister added.
Meanwhile, the major trade partner has asked Trump for at least a 45-day delay on the incoming tariff.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
Advertisements below
