Bessent Defends Trump’s Trade Strategy

Treasury Secretary Scott Bessent has come forward to defend President Donald Trump’s approach to negotiating trade agreements, specifically concerning China. During an appearance on ABC News’ “This Week,” Bessent shared insights into the ongoing discussions and the dynamics at play.

Relationship Between Trump and Xi

While addressing the level of communication between President Trump and Chinese President Xi Jinping, Bessent remarked, “I don’t know if President Trump has spoken with President Xi. I know they have a very good relationship and a lot of respect for each other,” highlighting the established rapport between the two leaders.

Timelines for Trade Agreements

Bessent provided insights into the potential timeframe for finalizing a trade deal with China, suggesting that reaching a formal agreement could take “months.” He emphasized the importance of “good behavior” from other trading partners, which could help manage tariff levels and prevent them from reaching maximum thresholds.

Specifically, he stated, “A trade deal can take months, but an agreement in principle and, the good behavior and staying within the parameters of the deal by our trading partners can keep the tariffs from ratcheting back to the maximum level.”