The Dow Jones Industrial Average surged over 1,000 points on Tuesday on news that some major U.S. trading partners are ready to do a deal “very quickly.”
ABC News asked Treasury Secretary Scott Bessent on Tuesday morning how soon he thought trade deals could be made.
“Well, we have one of the Vietnamese officials coming in this week,” Bessent responded. “The Japanese are very eager to get it over, and I think you are going to see a couple of big trading partners do deals very quickly.”
Further, President Donald Trump posted on Truth Social that he had a call with South Korean acting President Han Duck-soo.
“We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea,” Trump said.
“Their top TEAM is on a plane heading to the U.S., and things are looking good. We are likewise dealing with many other countries, all of whom want to make a deal with the United States,” he added.
President Trump just had a great call with the Acting President of South Korea: pic.twitter.com/FUlsgWQUxy
— Karoline Leavitt (@PressSec) April 8, 2025
The stock markets all reacted very positively to this news.
Stock Market has SKYROCKETED over 3% in the opening minutes.
All of the doubters of President Trump’s tariffs are silent.
Vindication for Trump! pic.twitter.com/Zu1h21c3Oe
— Paul A. Szypula ???????? (@Bubblebathgirl) April 8, 2025
The Dow Jones, Nasdaq, and S&P 500 were all up approximately 3 percent Tuesday morning.
This move came after three brutal days of trading following Trump’s announcement last Wednesday that he would be imposing a universal 10 percent tariff on all imports, and higher reciprocal tariffs on nations, like China and Vietnam, that charged the U.S. higher rates, along with imposing other trade barriers.
The Dow Jones, Nasdaq and S&P 500 all lost over 5 percent of their value by the end of the trading day Friday.
More moderate losses followed on Monday for all but the Nasdaq, which eked out a small gain.
Following Trump’s announcement last Wednesday, former George W. Bush Commerce Secretary Carlos Gutierrez told CNBC that he felt the president was engaging in “a big negotiation.”
“It’s the opening step. I would expect, and I would assume, that this will not be in place in a month, two months. Definitely not in the back half of the year. So I’m in the camp that this is … the beginning of a big negotiation.”
He added, “It’s not only about bringing production back, but it’s also about market access.”
JUST IN: Former Commerce Secretary predicts Trump’s tariffs won’t be in place by the back half of 2025 because other countries will rush to the negotiating table.
Former George W. Bush Commerce Secretary Carlos Gutierrez just made the prediction on CNBC.
Gutierrez went as far… pic.twitter.com/8yyGiuwx0j
— Collin Rugg (@CollinRugg) April 2, 2025
Tuesday’s developments regarding countries like Japan, Vietnam, and South Korea coming to the bargaining table would indicate that Gutierrez was right.
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