Treasury Secretary Scott Bessent said Tuesday on āThe Ingraham Angleā that despite Wall Streetās unease, President Donald Trump will make the ābest deal possibleā with China.
Bessent said during the show that he will meet with Chinese officials on Saturday while in Switzerland, marking the first meeting between the two sides since the U.S.-China tariff war began. Fox host Laura Ingraham asked Bessent about Wall Streetās nervousness, as markets have significantly fluctuated since Trumpās tariffs were imposed.
āWell, Laura, itās called, in game theory, itās called strategic uncertainty, what youāre talking about. Nobody does it better than President Trump,ā Bessent said.
āIt can be unsettling for the markets. But why? Why are they unsettled? Because they have a lack of information. I have President Trump has asymmetric information for what heās willing to do,ā Bessent added.
Trump announced on April 2 that reciprocal tariffs would be imposed against a handful of countries. While the baseline was set at 10%, countries like China faced higher tariffs due to their own tariffs against the U.S. After the announcement, the Dow Jones Industrial Average dropped 1,679.39 points before later rebounding.
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Following the announcement, China responded by imposing steeper tariffs on the U.S., prompting Trump to increase the tariff from 104% to 125% after Chinaās move and implementing a 90-day pause on tariffs against all other countries except China.
The tariff war between the two nations has led to China facing a 145% tariff from the U.S., despite other countries reportedly coming to the U.S. to negotiate a trade deal.
During an April 22 meeting in the Oval Office, Trump said that the 145% tariff against China couldnāt last, adding it would ācome down substantially,ā but said the tariff would not reach zero.
āWe donāt disclose it. And again, with President Trump, the strategic uncertainty will make sure that we get the best deal possible,ā Bessent said. āThatās whatās happening with the trading partners who are coming to US.ā
In an interview with Fox Newsā Sean Hannity on May 1, Bessent said that 17 trading partners have already come forward to negotiate deals with the Trump administration.
(Featured Image Media Credit:Ā Screenshot/Fox News/āāThe Ingraham Angleā)
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