17 Countries, Excluding China, Have Put Forward 'very Good Trade Proposals': Us treasury Secretary

In a motion that long-frozen waste and acquisition talks whitethorn yet beryllium thawing, US Treasury Secretary Scott Bessent voiced cautious optimism this week, hinting that nan first of respective imaginable waste and acquisition deals could beryllium inked imminently. Bessent revealed that 17 countries — excluding China — person put guardant "very bully waste and acquisition proposals" and suggested that caller momentum could pave nan measurement for much unfastened world commerce.

Still, Bessent tempered expectations. “In a cleanable world, this would each consequence successful very debased tariffs betwixt nan US and nan world,” he said. “But you person to person a awesome woody of religion to make that telephone astatine this point.”

The existent test, according to Bessent, lies pinch China. In an April 28 question and reply pinch CNBC, he made nan US position plain: “I judge that it’s up to China to de-escalate, because they waste 5 times much to america than we waste to them, and truthful these 120%, 145% tariffs are unsustainable."

His comments travel connected nan heels of a volatile period successful waste and acquisition policy. On April 2, President Donald Trump rattled world markets pinch nan announcement of sweeping tariffs. Though he later softened nan rustle — capping tariffs astatine 10% and postponing further penalties for 90 days — nan uncertainty near galore countries scrambling to re-engage diplomatically.

Now, Bessent says that scramble whitethorn beryllium base fruit. Among nan 15 to 18 ongoing waste and acquisition discussions, he named India arsenic a apt campaigner to finalize a woody soon. “We’ve had galore countries travel guardant and coming immoderate very bully proposals, and we’re evaluating those,” he said. “I would conjecture that India would beryllium 1 of nan first waste and acquisition deals we would sign. So, watch this space.”

Meanwhile, Bessent flagged rising unease successful Europe, wherever rate shifts are adding to waste and acquisition jitters. The euro has surged astir 10% against nan dollar since January — a reversal European leaders position pinch increasing concern, according to Bessent.

Published on: May 5, 2025 10:25 PM IST