Breaking News: Bessent Considers Extending Tariff Pause for Nations Engaging in Honest Trade Talks

U.S. Treasury Secretary Scott Bessent recently discussed the possibility of extending a 90-day pause on tariffs set by President Trump. This pause, which is scheduled to end soon, could be extended if key trading partners, like the European Union, are seen as negotiating in good faith.

Bessent testified before the House Ways and Means Committee and highlighted that the U.S. has 18 primary trading partners. He emphasized that the administration is hopeful for successful trade agreements with these countries. If negotiations are progressing well, the U.S. might continue the tariff pause to support these talks.

While the Trump administration has hinted at progress with several nations, so far, only a formal trade deal with the U.K. and a tentative agreement with China have been publicly discussed. The details of the China deal are still unclear.

This situation is not just about tariffs; it’s part of a larger conversation about global trade dynamics. According to a recent survey by the Peterson Institute for International Economics, nearly 70% of economists believe that trade agreements tend to benefit all parties involved, as they can lead to lower prices for consumers and greater market access for businesses.

Bessent’s comments show a shift in the administration’s approach, suggesting more flexibility as the deadline approaches. It’s a strategic move that reflects the complex nature of international negotiations, where timing and goodwill are crucial.

For more insights into the evolving trade landscape and its implications, you can check out the Peterson Institute for International Economics.

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