U.S. Treasury Secretary “Major trade negotiations concluded within weeks… Direct negotiations with China resumed”

U.S. Treasury Secretary Scott Besent Leading U.S. Tariff Negotiations (Source: Bloomberg)

U.S. Treasury Secretary Scott Besent stated that there is a high possibility of major trade negotiations being concluded within the next few weeks. His remarks on the 24th (local time) come amid ongoing trade conflicts with several countries, drawing attention to whether there will be changes in the global trade order.

Secretary Besent did not specify the countries or details of the negotiations, but stated, “There has been significant progress, and there are negotiations that will be concluded within weeks.” He further indicated the possibility of a renewed focus on U.S.-China trade talks by saying they plan to resume direct negotiations with China.

Recently, the U.S. has been conducting multiple simultaneous negotiations with the European Union, China, and Southeast Asian countries on various issues such as reorganization of supply chains, export control of advanced technologies, and conditions for exporting agricultural products and energy. Secretary Besent’s statement is interpreted as a sign that some of these negotiations are entering the final stages.

In the market, it is expected that if the detailed negotiation outcomes to be announced in the future lead to tariff adjustments or easing of trade barriers, it could positively impact business performance and the stability of the global supply chain.