Treasury -Secretary Scott Berent On Monday, the responsibility for reaching a trade agreement on China.
“I believe it is up to China to de-escalate, because they sell five times more to use that we sell to them, and so these 120%, 145% rates are indisputable,” Bessent said during an interview on the “Squawk Box” of CNBC.
The comments are supplied with markets on the edge over the rates after the announcement of President Donald Trump of 2 April of broad global tasks. A week later, Trump said that he would stay 10% across the board, but the table for 90 days more aggressive levies against individual training partners.
Since then, the US has made progress in negoties, Berraat said, and sang India for possible deal in the coming days.
“I think India would be one of the first trade agreements that we would sign. So pay attention to this space,” he said.
In addition to his assessment of the situation with China and Oher Asian countries, Beent accused that European countries are probably “in panic” about the power of the euro against the US dollar since the trade stresses started. The euro this year almost 10% rose against the Greenback after the currencies reached the back at the beginning of January.
“You’re going to [European Central Bank] Start reducing the rates to try to get the euro back, “said Bessent.” Europeans don’t want a strong euro. We have a strong dollar policy. “
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