U.S. Treasury Secretary Bessent: U.S.-China trade negotiations are still in progress, and Trump's 200 tariff agreements have not yet been finalized

U.S. Treasury Secretary Scott Bessent was interviewed this morning on 4/28 to discuss the tariff policies, economic polls, and negotiation progress with China promoted by the Trump administration. He emphasized that the current short-term market volatility is aimed at creating a "fairer global trade system" and believes that consumer data remains strong, and the U.S. economic fundamentals have not been significantly affected. In fact, there is interaction with China, but the internal narratives differ.

Poll Shows 72% Doubt Trump's Future Policies, Bessent Says Consumer Strength Remains Strong

The latest U.S. poll indicates:

• 53% of Americans believe the economy has worsened since Trump took office
• 72% are concerned about policies triggering a recession

Bessent responded that he hasn't looked at the data in detail. However:

• From actual consumer behavior, consumer strength remains strong, inconsistent with the poll results

• He believes media is exaggerating pessimistic sentiment, but the stock market has actually rebounded from its low point, such as the NASDAQ Composite Index rising in April.

Trump's 200 Tariff Agreements Progress, Bessent Says Not Yet Fully Finalized

Regarding Trump's claim of 200 tariff agreements being reached, Bessent clarified:

• Actually negotiating with 17 major trading partners (excluding China)

• Some Asian countries are making smooth progress, with some set to remove certain trade barriers

Why Impose Taxes First, Then Negotiate, Bessent Says This Is a Strategic Approach

Bessent explained Trump's strategic approach:

• First set high tariffs as a negotiation lever

• Then use tax reductions or exemptions as incentives, demanding the other party lower tariffs, remove non-tariff barriers, and stop currency manipulation

SMEs Complain About Rising Costs, Bessent Says China Cannot Sustain and Must Compromise

Regarding U.S. SMEs feeling pressured by tariffs on China, Bessent responded:

• China cannot withstand the impact of sudden order interruptions from the U.S., and its export model is unsustainable

• There will be short-term pain for the U.S., but the long-term goal is to bring back higher-paying, higher-value-added manufacturing jobs

U.S. and China Actually Interact, But Internal Narratives Differ

Regarding China's denial of tariff negotiations, Bessent stated:

• During the IMF World Bank conference, he interacted with Chinese officials, discussing financial stability and economic warnings, but he believes both sides are maintaining communication

• He believes China's external denial of negotiations with the U.S. is "meant for domestic ears"

How Long Will It Take to Reach a US-China Trade Agreement, Bessent Says Slow and Steady

Regarding Trump's claim of "reaching an agreement soon," Bessent takes a more conservative stance:

• He expects a gradual approach, slowly reaching partial consensus, followed by a lengthy process of document processing and detailed negotiations

• Officially signing a comprehensive agreement may take some time

Will Market Volatility Shake Confidence? Bessent Says No Need to Worry

Facing recent severe fluctuations in the US dollar, stock, and bond markets, Bessent believes:

• Short-term market volatility is normal and does not indicate a global loss of confidence in the United States

• In the long term, the Trump administration is laying the groundwork for a "strong dollar and strong economy"

(Shein Raises US Prices, with Some Increases Up to Threefold, Does Trump Still Claim There's No Inflation?)