U.S. Treasury Secretary Scott Bessent said on Monday that major progress is being made in trade negotiations with several top U.S. trading partners. Speaking in an interview with CNBC, Bessent mentioned that many countries had presented “very good” proposals to avoid new U.S. tariffs.
He highlighted that India could be among the first countries to finalize a deal, possibly within this week or the next. Discussions with Japan and other Asian nations are also moving forward rapidly, according to Bessent.
The Treasury Secretary further noted that China’s recent decision to exempt some U.S. goods from its retaliatory tariffs signals Beijing’s willingness to ease tensions and improve trade relations.
Bessent emphasized that talks are progressing quickly with about 15 to 18 countries. However, when asked about direct negotiations with Chinese officials, he remained cautious, stating, “We will see what happens with China.”
U.S. Treasury Secretary Scott Bessent said that trade negotiations with Asian partners are going very well, especially with Japan, where talks have been substantial. He noted that China’s recent exemptions on U.S. goods suggest they want to ease trade tensions. Bessent also mentioned that Apple’s recent decisions might reflect concerns about China being an unreliable trade partner.
Although Bessent did not share specific details about the agreements under discussion, his remarks suggest that the United States is adopting a proactive approach to strengthening international trade ties.
India offers a rare forward “MFN” clause to the U.S., cutting tariffs on farm goods to secure a fast-track trade deal, while seeking easier access for its key exports. A final agreement could arrive within weeks, ahead of July tariffs.
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