Scott Bessent
Scott Bessent
  • It is a complicated relationship with China
  • US has had substantial discussions with Japanese allies on trade
  • Chinese exemptions show they want a de-escalation on trade
  • Europeans are panicked about strength of euro
  • 17 important trading partners have made 'very good proposals' to avert US tariffs
  • Negotiations with Asian trading partners going very well
  • Says he was surprised when markets rallied after remarks at JPMorgan conference, didn't say anything new

He's going with "it was the market's fault" as his defense for telling market-moving information to a private group.

In any case, could be trying to smooth the way for Trump to ease China tariffs by highlighting the exemptions.

Source: Forex Live