Treasury Secretary Besent says it is up to China to cancel trade tensions

On Monday, Treasury Secretary, Scott Paystint, was responsible for reaching a commercial agreement on China.

“I think it is up to China to manufacture them, because they sell us five times more than we sell, so this tariff of 120 % and 145 % is not sustainable.”

Comments with the edge of the abyss come about the direction of definitions after President Donald Trump announced on April 2 of broad global duties. A week later, Trump said he would remain in place 10 % on the comprehensive definitions, but the table for 90 days is more aggressive against individual commercial partners.

Since then, the United States has made progress in negotiations, as Besen said, as India is secreted for a possible deal in the coming days between 15 to 18 “important commercial relations” subject to negotiations.

“We have made many countries and make some very good proposals, and we are evaluating them,” he said.

“I think India will be one of the first commercial deals that we will sign. So see this space,” Bessin added.

In addition to his assessment of the situation with China and other Asian countries, Bessent accused that European countries are likely to be “panic” due to the strength of the euro against the US dollar since the start of trade tensions. The euro rose about 10 % this year against Greenback after the currencies reached near the equal in early January.

“You will see (the European Central Bank) begins to reduce prices to try to recover the euro,” said Pesin. “Europeans do not want the strong euro. We have a strong dollar policy.”

Administration officials have recently sent mixed signals regarding negotiations.

Trump said last week that he was talking to Chinese officials about trade while visiting Washington. However, other reports indicated that negotiations did not happen because instead officials were in the city for World Bank meetings and international monetary coordinator.

Bessent insisted that the White House will not be negotiating in the press.