- We are prioritizing Japan and South Korea on tariff talks
This comment from Hasset on Fox News suggests that they will impose the reciprocal tariffs and then start negotiations. I don’t think the market will like that.
It fits in with what Trump said yesterday “We only get one shot at this”.
The tariffs go into effect today just after midnight, even talking about South Korean trade officials earlier getting on a plane doesn’t leave enough time to do anything. Moreover, yesterday Bessent talked about negotiations with Japan potentially taking months.
Now, tariffs could be suspended in the interim for any period of days and the market is clearly betting on that today but it’s a dangerous game.
This article was written by Adam Button at www.forexlive.com.