US Treasury Sec. Bessent: Trump is committed to fixing trade imbalances
In an interview with CNBC on Tuesday, US Treasury Secretary Scott Bessent said that he was not involved in the calculations of tariffs rates and reiterated that US President Donald Trump is committed to fixing trade i mbalances.
Key takeaways
"Tariff negotiations are result of massive inbound calls, not market."
"Trump will be personally involved in negotiations."
"If we're successful, the tariffs would be a melting ice cube in a way."
"We have discussed which countries to prioritize."
"If there are solid proposals, we can end up with good deals."
"As part of calculus with deals, some part of tariffs may stay on."
"China's escalation was a big mistake."
Source : Fxstreet