Amid the escalating trade war between the United States and China, trade negotiations between the U.S. and other countries are steadily progressing. On Friday, April 11th, President Trump stated that for countries seeking trade negotiations, a 10% tariff is “very close” to the lowest tariff level, with possible exceptions for certain reasons. Trump also voiced support for the dominance of the U.S. dollar.
On April 9th, Trump deferred implementing higher retaliatory tariffs on all countries other than China for 90 days to allow for trade negotiations between these countries and the United States.
According to Bloomberg, on Friday evening, following a medical check-up, Trump boarded Air Force One heading to Florida. On the plane, he told reporters, “There may be some exceptions for obvious reasons, but I think 10% is a minimum standard.”
He did not disclose what these “obvious reasons” are, nor did he reveal any new changes to his tariff agenda.
Currently, Chinese goods are facing a 145% tariff, while most other countries maintain a baseline tariff of 10%.
After a turbulent week in the stock market, Friday saw a rebound, marking the best single-week performance since 2023. The S&P 500 index rose by 1.8%, the U.S. 10-year Treasury yield significantly lower than its peak, but achieving the largest weekly gain in over 20 years.
Trump downplayed the market turbulence, predicting a strengthening dollar. He indicated that once the U.S. reaches trade agreements with all countries willing to negotiate, many tariffs may stabilize at around 10%.
On Air Force One, he told reporters, “As people understand our actions, I believe the dollar will significantly rise. The bond market is performing well. Although there was a brief volatility, I quickly resolved that issue.”
He insisted that the dollar will “forever” maintain its status as the “preferred currency.” “If a country says they won’t use the dollar, I can tell you, in about the time it takes to make a phone call, they will start using the dollar again. You must always stick to the dollar,” Trump added.
The White House stated that over 75 countries are seeking negotiations, with future agreements bringing certainty.
India and Japan are among the countries making progress in trade negotiations.
When asked about the trade war with Beijing on Friday, Trump told reporters, “I think some positive things are about to happen.”
White House spokesperson, Caroline Leavitt, told reporters on Friday, “The President has made it clear: when the U.S. is hit, he will hit back harder.”