Scott Bessent Says Trump-Xi Call Needed
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Treasury Secretary Bessent told NBC that if nations don't want to negotiate with the US, then their tariffs will "spring back to the April 2nd level."
A trade court blocked the tariffs Wednesday, saying Trump didn't have the authority to impose them, but they have been reinstated by an appeals court for now.
"If we were to give too much certainty to the other countries, then they would play us in the negotiations," Bessent told CNN.
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"So, if we were to give too much certainty to the other countries, then they would play us in the negotiations," Bessent said of ongoing trade talks.
There are 18 “important” trading partners that the United States is most focused on solidifying deals with, Bessent said. He did not say how quickly tariff rates could revert to “reciprocal” rates.
WASHINGTON — Treasury Secretary Scott Bessent acknowledged ... not appear prepared to “eat the tariffs” in full, as Trump has insisted the company and China would do. Bessent said he spoke ...