U.S. Prepares to Seal New Tariff Agreements Amid Market Volatility

The United States is reviewing offers from 15 countries regarding tariff agreements. Economic adviser Kevin Hassett indicated progress with several nations following President Trump's recent tariff reduction. The sudden policy shift came after significant financial market instability, erasing trillions from stock markets and impacting bond yields.

The United States is actively reviewing tariff agreement proposals from 15 countries, drawing closer to concluding deals with some of them, according to White House economic adviser Kevin Hassett. This development follows President Donald Trump's unexpected decision to lower certain duties, marking a significant policy shift.

Hassett revealed that the U.S. Trade Representative has communicated that there are multiple countries offering proposals currently under evaluation. A high-level meeting was scheduled at the White House to prioritize agreements with key nations crucial for rapid completion.

Expecting substantial progress in trade deals within the next few weeks, Hassett emphasized that discussions have been ongoing for some time. The swift move follows recent market volatility which saw significant financial upheaval and a jump in U.S. government bond yields, catching Trump's attention.

(With inputs from agencies.)