US Treasury Secretary Scott Bessent indicates the reported trade agreement in the US, discussed ‘De Tafel’ for future tariff negotiations and weighs on the ‘Big, Beautiful Bill’ of the president.
US Treasury Secretary Scott Bessent revealed new details about the reported trade agreement between the US and China, adding that he has now seen “de-escalation” firsthand.
“We have peace agreements, we have trade agreements, we have tax deals. And in dealing with the second largest economy in the world, we were approached each other with mutual respect,” Bessent said in an interview on “Mornings with Maria” Friday.
US Treasury Secretary Scott Bessent watches while the US President Donald Trump performs orders in the Oval Office of the White House on April 9, 2025 in Washington, DC. (Getty Images)
“Part of the agreement was rates that fall and rare earth magnets that started to flow back to the US, they form the core of much of our industrial basis. They did not flow as quickly as previously agreed,” Bessent explained.
“And I am convinced that, as agreed, the magnets will flow. In the meantime, we had set up countermeasures versus the Chinese. We had stopped a number of vital supplies. So what we see here is a de-escalation under President Trump’s leadership.”
This is a developing story. Come back for updates.
