Treasury Secretary Scott Bessent discussed President Donald Trump’s trade negotiation strategy regarding China but admitted he was unsure if direct talks were occurring between Trump and Chinese President Xi Jinping.
Bessent emphasized that despite uncertainties, the U.S. aims to make clear that high tariffs are unsustainable for China’s economic model. He projected that reaching a comprehensive trade deal could take months, contingent on ‘good behavior’ from China and other negotiating partners.
Bessent also explained Trump’s negotiation style as one of ‘strategic uncertainty,’ where the administration signals potential tariff increases while encouraging other nations to remove trade barriers. This approach, according to Bessent, aims to push countries toward fairer trade practices.
When asked about investor confidence in the U.S. economy amid recent market fluctuations, Bessent acknowledged concerns but reiterated the administration’s focus on long-term economic health.
— new from ABC News