Treasury Secretary Bessent Expects Several Large Trade Deals Soon

Watch Treasury Secretary Bessent Expects Several Large Trade Deals Soon - Bloomberg on Dailymotion

Transcript

00:00When you talk about uncertainty and getting more certainty because of the tax bill,

00:03some of the uncertainty, a lot of it, is because of tariffs right now

00:06because we're not exactly sure where we're going to end up.

00:08Do you have a sense when the economic community, the business community,

00:12will get better certainty on tariffs?

00:14Well, we've done the 90-day pause.

00:17As I've mentioned several times, we have 18 important trading partners.

00:21So what everyone should really focus on are those.

00:24We've done a deal with the U.K.

00:26My sense is over the next couple of weeks, we're going to have several large deals announced.

00:34We have put a pause and a 90-day pause with China.

00:39I expect that we will be negotiating in person with them again.

00:45And then the president today, when we initiated the pause,

00:50the pause and the 10 percent are moving down from the April 2nd rate to the 10 percent level

01:00was contingent on countries or trading blocs coming and negotiating in good faith.

01:07And I think the president was getting frustrated with the EU.

01:10You know, the problem with the EU, I've said several times, they have a collective action problem.

01:15There are 27 countries.

01:16They all have different needs, the Germans, they are interested in cars, the French in agriculture.

01:23So, and then you have Brussels negotiating with them.

01:27Now, I am very impressed.

01:29I met my German counterpart, who's part of the new German government,

01:33the German finance minister in Banff, that he was very responsive.

01:40I think that the new chancellor, Mertz, is going to give an opportunity for a U.S.-Germany reset.

01:50So I'm very optimistic that perhaps Germany can help push the EU forward here.