US President Donald Trump on Wednesday said that he is willing to lower tariff rates for countries that will open their markets to America. Trump’s comments come at a time when countries are fast-tracking trade deal negotiations with the US ahead of the American President’s August 1 deadline for reciprocal tariffs.Taking to social media platform Truth Social, Trump said that the US will always focus on having zero tariffs on its products. “I will always give up Tariff points if I can get major countries to OPEN THEIR MARKETS TO THE USA. Another great power of Tariffs. Without them, it would be impossible to get countries to OPEN UP!!! ALWAYS, ZERO TARIFFS TO AMERICA!!!,” he posted on Truth Social.On Tuesday Trump announced a trade deal with Japan with the latter facing 15% tariffs on its goods exported to the US. Trump has also said that deals with Indonesia, Vietnam and the Philippines have been sealed. The tariff rates for these countries are lower than the rates threatened by Trump in his April 2 Liberation Day announcement.The US President also posted about how deals with Japan and Indonesia will help America.Also Read | ‘Aggressive US pressure can force…’: GTRI warns India against one-sided trade deal; says don’t fall into same trap’ as Indonesia“Remember, Japan is, for the first time ever, OPENING ITS MARKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO. The Open Market Japan may be as big a profit factor as the Tariffs themselves, but was only gotten because of the Tariff Power. They also agreed to buy BILLIONS OF DOLLARS WORTH OF MILITARY AND OTHER EQUIPMENT, and give us 90% of 550 BILLION DOLLARS – AND MORE!!! MAGA!!!” he said.“Indonesia has also agreed, for the first time ever, to COMPLETELY OPEN ITS MARKET TO THE USA. That’s BIG!!! Our businesses will make a fortune. Likewise Japan!,” said in another post.Meanwhile, discussions regarding a trade agreement with China continue, as US Treasury Secretary Scott Bessent indicates the August 12 deadline could see another extension to facilitate further negotiations.The August 12 deadline for China negotiations appears flexible, according to Bessent’s statement to Fox Business on Tuesday. He confirmed upcoming bilateral discussions scheduled in Sweden for early next week.Additionally, Trump’s announcement of a potential visit to China suggests ongoing efforts to improve trade relationships between the two nations.Also Read | Russia oil squeeze: Trump’s 100% tariff threat – should India panic?
