Tariff Talks: U.S. Eyes Deals with Allies Amid China Standoff

U.S. Treasury Secretary Scott Bessent is optimistic about reaching tariff agreements with American allies but acknowledges challenges with China. Speaking at an American Bankers Association conference, Bessent emphasized his lead role in the negotiations and expressed confidence in the U.S. economy despite market fluctuations.

U.S. Treasury Secretary Scott Bessent expressed confidence on Wednesday in the potential for reaching tariff deals with U.S. allies, despite ongoing tensions with China. Bessent is set to lead negotiations across more than 70 countries in the coming weeks.

Speaking at the American Bankers Association conference in Washington, Bessent highlighted his role in advancing discussions on President Donald Trump's tariffs, noting the complexity due to China's retaliatory measures.

Despite financial market fluctuations, Bessent reassured the audience of the economy's strength, citing feedback from CEOs and companies he's engaged with in his current role.

(With inputs from agencies.)