US Treasury Secretary Says Some Trade Deals May Come This Week, Echoing Trump's Comment

TMTPOST -- U.S. President Donald Trump and his cabinet member these days suggested they might make deals with trading partners as soon as this week.

Credit：China Daily

“I think we’re very close to some deals. As President Trump said last night on Air Force, maybe as early as this week,” U.S. Secretary Scott Bessent in an interview on CNBC’s “Money Movers” on Monday. He said the Trump administration is receiving “very good proposals” from other countries.

“I can say that I am highly confident that we have 18 important trading partners—we’ll put China to the side. The 17 other partners, many of them have approached us with very good trade proposals,” Bessent said. He added that Trump will be involved in each of the negotiations and will act as “the final decision-maker”.

Trump on Sunday told reporter aboard Air Force One that the U.S. was meeting with many countries, including China, on trade deals. Besides China, Trump said his administration was meeting with “almost” every country, and some trade deals “could very well be” announced this week.

“We’re negotiating with many countries but at the end of this I’ll set my own deals because I set the deal, they don’t set the deal,” Trump said. The president continued he’ll be setting a certain tariff number depending on the status of negotiations. “ “This is not like a big deal that’s gonna be signed — in some cases we’ll sign them, but we don’t have to sign them. I’ll be setting the deal, I’ll be setting the tariff,” he said.

Trump last month said he had made 200 trade deals already, later clarifying that they’ll be done soon. “I’ve made 200 deals,” Trump replied when asked why White House trade advisor Peter Navarro had predicted “90 deals in 90 days” but there is zero deals so far. Trump added that he is “100%” certain about these deals. The government has struck these deals and will unveil them over three or four weeks, Trump said in an interview with Times Magazine published on April 25.

“I would say, over the next three to four weeks, and we're finished, by the way,” Trump told Times in response to a question about why he doesn’t announce these deals. Pressed on whether his administration has finished the work, Trump said “we’ll be finished” in three to four weeks.

Bessent on April 29 touted forthcoming trade deals with India, South Korea and Japan. The treasury chief told reporters that U.S. is making progress on trade deals with India, South Korea and Japan. “I think that we are very close on India,” said Bessent. He continued: “I could see the contours of a deal with the Republic of Korea coming together, and then we've had substantial talks with the Japanese.”

Bessent said at least 17 U.S. trading partners that he will speak to over the next few weeks. Bessent believes negotiations with Asian partners are the closest to leading to a deal as those allies “have been the most forthcoming” with negotiations.

Trump said during NewsNation’s town hall last week that more than 100 countries are calling the U.S. “morning, noon and night” to seek a deal on tariffs and he could set deals of 40, 50 or 60% with some countries rather than negotiate. The president saw his administration will strike the first deals with India, South Korea and Japan in weeks as it is negotiating with these Asian trading partners.

Asked when he would announce the first deals, Trump on April 30 said the U.S. has “potential deals” in place with countries such as Japan. But he noted he was “in less of a hurry” than those expressing anxiety over the economy. “We are sitting on the cat bird seat. They want us. We don’t need them,” Trump said, adding that India wanted to “make a deal so bad.”