Trade Talks With China Have Not Started, Bessent Says
The Treasury secretary said that trade deals with other U.S. trading partners could be announced as soon as this week.
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The Treasury secretary said that trade deals with other U.S. trading partners could be announced as soon as this week.
The text of the agreement, made public by Ukraine’s government, made no mention of the security guarantees that Kyiv had long sought.
A textile trade association that has backed President Trump’s trade strategy took issue with Treasury Secretary Scott Bessent’s remark that emphasized “precision manufacturing” over clothing and fabrics.
The White House press secretary, Karoline Leavitt, attacked the retail giant over a report that suggested Amazon would highlight tariff-related price increases. Amazon said it was “not going to happen.”
Market chaos and economic uncertainty has been a feature of the president’s first few months back in office. DealBook breaks down the milestones, and what to expect next.
The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.
President Trump said “we’re meeting with China” on tariffs, comments aimed at soothing jittery financial markets. But Chinese officials say no talks have taken place.
Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.
The Treasury secretary received counsel and criticism from some of his predecessors over President Trump’s policies.
The administration says foreign governments are racing to the United States to negotiate, but exactly which countries might strike a deal — and over what — remains unclear.