On Monday, U.S. Treasury Secretary Scott Bessent said that many countries that trade with the U.S. have made good offers to prevent new U.S. tariffs. He thinks that one of the first agreements will likely be with India. Bessent mentioned to CNBC, “I believe India will be one of the first trade deals we sign.”
He also said that the U.S. is having important talks with Japan and that discussions with other Asian countries are going well. Vice President Vance recently visited India and reported good progress in negotiations. Bessent noted that talks with South Korea and Japan are also moving positively.
Bessent told reporters after some interviews that the first trade agreement could happen this week or next week. He said that China’s decision to exempt some U.S. products from their tariffs shows they want to reduce trade tensions, and the U.S. has not made the situation worse by further blocking goods.
He added that President Donald Trump will be closely involved in each trade agreement with important partners, and it’s crucial to reach agreements soon. When asked if he would contact China to restart talks, Bessent responded, “We’ll see what happens with China. It’s important, and I think it’s difficult for them. Maybe they’ll reach out to me.”
He also told CNBC that the U.S. government is in contact with China, and it is up to China to lower tensions because they currently sell five times more goods to the U.S. than the U.S. sells to them.
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