Anticipating Trump's Tariff Tactics

U.S. Treasury Secretary Scott Bessent has declined to confirm any new tariff deals, emphasizing that agreements are only official once President Trump announces them. Commerce Secretary Howard Lutnick noted one deal awaiting foreign approval, reflecting the administration's bespoke approach to trade relationships.

U.S. Treasury Secretary Scott Bessent stated on Tuesday that any potential tariff agreements remain unofficial until President Donald Trump confirms them. Speaking to the Fox Business Network, Bessent highlighted that the President's involvement is pivotal in finalizing deals.

Bessent remarked, 'Every deal is different, and he's going to be involved, so I'll wait to hear from him,' underscoring the unique nature of each trade relationship within the administration's strategy.

Commerce Secretary Howard Lutnick also mentioned reaching a deal with a foreign nation, though he withheld specifics pending approval from the foreign country's leadership. This development further highlights the complex dynamics at play within the administration's trade initiatives.

(With inputs from agencies.)