Treasury Secretary Scott Bessent reports major breakthroughs in Asian trade talks as countries agree to abandon unfair practices under Trump administration pressure.
At a Glance
- Treasury Secretary Scott Bessent announced trade negotiations with Asian countries are “moving along very well” during an ABC “Meet the Press” appearance
- Bessent clarified President Trump’s reference to “200 tariff deals” as sub-deals within broader ongoing negotiations
- Negotiations are underway with 17 important trading partners in Asia, notably excluding China
- Several Asian countries have agreed to end unfair trade practices that previous administrations allowed
Advancing Trade Negotiations in Asia
Treasury Secretary Scott Bessent delivered a promising update on the Trump administration’s trade negotiations with Asian countries during his recent appearance on ABC’s “Meet the Press.” Bessent’s statements signal significant progress in the administration’s efforts to reshape America’s trade relationships with Asian nations, creating more favorable conditions for American businesses and workers. The Treasury Secretary emphasized that discussions with multiple important trading partners in the region have been productive, with several countries showing willingness to address longstanding trade imbalances.
When questioned about President Trump’s claim regarding 200 tariff deals by host Martha Raddatz, Bessent provided important context to understand the administration’s approach. The Treasury Secretary explained that these represent smaller components within the broader framework of ongoing negotiations rather than separate comprehensive agreements. This clarification helps explain the administration’s strategic approach to breaking down complex trade relationships into manageable segments that can be addressed systematically.
Strategic Focus on Multiple Trading Partners
Bessent highlighted that the administration is currently engaged in negotiations with 17 key trading partners in Asia, deliberately excluding China from these particular discussions. This strategic approach allows American negotiators to address region-specific issues while maintaining the administration’s separate and distinct approach to China. The focused diplomatic effort demonstrates the administration’s commitment to reshaping trade relationships throughout the region rather than concentrating solely on China.
“Trade Negotiations with Asian Countries ‘Moving Along Very Well'” – Bessent.
The Treasury Secretary’s remarks indicate that certain Asian countries have been particularly receptive to negotiations, though he did not specify which nations have shown the most progress. This diplomatic approach allows participating countries to make adjustments without public pressure, potentially facilitating more productive negotiations. The administration appears to be balancing firmness on American interests with the diplomatic sensitivity needed to achieve meaningful results with multiple trading partners simultaneously.
Addressing Unfair Trade Practices
Perhaps most significantly, Bessent revealed that several Asian countries have already agreed to abandon certain trade practices that the administration considers unfair to American interests. This early success suggests the administration’s approach is yielding tangible results as trading partners respond to American concerns. The willingness of these nations to modify their practices represents a substantive win for the administration’s trade agenda and potentially for American businesses competing in international markets.
“He added, ‘We’ve had several of these Asian countries have come in and said, ‘Oh, well, we’ll stop doing this, this, and this.’ And I look at these lists, and I think, how did we get here? Because this trading system has been so unfair. As President Trump says, I don’t blame the countries. I blame the previous administrations that let them get away with it.'” – Scott Bessent.
In his comments, Bessent directed criticism toward previous administrations rather than the Asian countries themselves, echoing President Trump’s perspective that the United States had allowed disadvantageous trade relationships to develop and persist. This framing places responsibility on American policy choices rather than foreign governments, while simultaneously justifying the current administration’s more assertive approach to trade negotiations. The Treasury Secretary’s remarks suggest the administration views its work as correcting historical policy failures rather than creating entirely new trade relationships.
