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U.S. Treasury Secretary Scott Bessent took a brief moment to predict what will likely happen on the trade front under the Trump administration, now that the president’s tariff system has been implemented, hinting that many big deals with foreign countries may soon come to fruition.
“I think you’re going to see a couple of big trading partners do deals very quickly,” he remarked.
On April 2, President Trump kicked off anticipated reciprocal tariffs, as well as specific tariffs for certain nations. As reported by RSBN, Trump has instituted a baseline 10 percent tax on all imported goods, for example. He also announced 25 percent tariffs on Canada and Mexico, as well as a 25 percent tariff on imported beer, per RSBN.
Earlier this week, Secretary Bessent commented on the impact of tariffs and praised the system as pivoting the United States in the right direction as far as trade.
“I think for the first time in decades – probably since I was a college student – we’re going to see fair trade and everyone will have the opportunity to lower their tariffs, lower their non-tariff barriers, stop the currency manipulation, stop subsidizing labor, stop providing cheap loans, [and] make the global trading system fair for American workers again,” he said on Fox News.
On Tuesday, President Trump announced that the U.S. was in talks with South Korea regarding multiple areas, including tariffs, trade, and other issues, something he described as “ONE STOP SHOPPING.”
The president also hinted that China “badly” wanted to make a deal with the United States, but said the nation seems unsure how to start negotiations. He wrote on Truth Social, “China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen! GOD BLESS THE USA.”