Scott Bessent Pursues Fair Trade Talks

U.S. Treasury Secretary Scott Bessent aims to engage in productive negotiations with Japan to address high non-tariff barriers. He hopes negotiations will reduce tariffs, although success depends on other countries' cooperation. President Trump's potential involvement suggests tough negotiations are expected due to perceived unfair trade practices.

The U.S. Treasury Secretary, Scott Bessent, announced his intention to engage in constructive talks with Japan to tackle the high non-tariff barriers between the two countries. He expressed optimism that these discussions could lead to reduced tariffs.

Bessent stated that the U.S. is currently at maximum tariff levels for nations that choose not to retaliate. He communicated his aspirations for negotiations to alleviate these levels, although he acknowledged that success would largely hinge on the cooperation of other countries involved.

Highlighting the complexity of the situation, Bessent noted that President Trump's direct involvement in the process could lend an edge to the negotiations. He suggested that the President shares the view of many that current trade conditions are unfair, indicating that the forthcoming discussions may be challenging.

(With inputs from agencies.)