World leaders queue up for talks but President Trump warns they will have to pay 'a lot of money' to lift tariffs

As the aftermath of Trump Tariffs caused both Asian and US markets to plunge, US President Donald Trump suggested he was unconcerned about the global stocks rout, stating "sometimes you have to take medicine to fix something".

Trump added that he has had conversations with leaders from Europe and Asia over the weekend, who hoped to convince him to lower the tariffs. "They are coming to the table. They want to talk but there's no talk unless they pay us a lot of money on a yearly basis," Trump said.

Trump's warning to foreign leaders comes amid his administration's claim that over 50 nations had started negotiations with the US since the negotiations began. "He's created maximum leverage for himself," Treasury Secretary Scott Bessent told NBC News.

An unnamed senior Indian government official has told Reuters that talks were on with the US to explore a possible deal and New Delhi had no plans to retaliate against the 26% tariffs.  He added that the Centre was looking into a clause that offers a possible respite to trading partners who  "take significant steps to remedy non-reciprocal trade arrangements".

India is one of the countries that began early talks with the US over a trade deal. Both agreed in February to secure an early trade deal by autumn of this year. 

Besides India, Taiwan has begun its bid to appease the US by initiating talks. Taiwan's President Lai Ching-te on Sunday offered zero tariffs as the basis for talks with the US. Lai has also promised to raise the US investments of Taiwanese companies.

Israeli Prime Minister Benjamin Netanyahu, who is visiting the US, said he would seek a reprieve from a 17% tariff imposed on his country's goods.

Italian Prime Minister Giorgia Meloni too is working to shield businesses from the damage of a 20% tariff on goods from the European Union. Japanese Prime Minister Shigeru Ishiba told reporters that government will continue to ask President Trump to lower tariffs against Japan, but acknowledged results “won’t come overnight".

Tactic for leverage?

Commerce Secretary Howard Lutnick too shot down speculations that the tariffs were a tactic of the administration to win concessions from other countries. "The tariffs would remain in place for days and weeks," he said.

Asian stocks posted steep losses in early trading on Monday. The US stock too plunged Sunday evening, hinting that the market turmoil will continue on Monday too. Even the price of bitcoin fell over 5.6% despite showing signs of withstanding the market downturn.

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