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Investing.com -- Treasury Secretary Svott Bessent, in a recent interview on CNBC, stated that China's decision to increase tariffs on U.S. goods could be detrimental for the Asian nation. Bessent also revealed that as many as 70 countries have expressed interest in trade negotiations.
Bessent confirmed that President Trump will be personally involved in the upcoming trade talks. He also hinted that Japan, South Korea, and Taiwan are potential participants in a deal that could be negotiated in Alaska.
The Treasury Secretary further explained that if successful, the tariffs would eventually diminish, likening the situation to a melting ice cube. He indicated that solid proposals regarding tariffs could pave the way for beneficial deals.
Bessent concluded by stating that countries that refrained from escalating the trade dispute will be given priority in the upcoming negotiations. This suggests that nations that have maintained a balanced stance during the trade conflict could benefit from the upcoming discussions.
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