Treasury Secretary Scott Bessent weighed in on America’s tariff negotiations with other countries during a late Monday afternoon appearance on “Kudlow.”
Bessent told host Larry Kudlow that Trump is “better than anyone at giving himself maximum leverage, so what he has done is we outlined the tariffs on April 2 and then gave countries several days to think about it.”
“As I advised on many shows on April 2, I suggested that the foreign officials keep your cool, that you do not escalate and come to us with your offers on how you’re going to drop tariffs, how you’re going to drop non-tariff barriers, how you’re going to stop your currency manipulation, how you’re going to stop the subsidized financing, and at a point, President Trump will be ready to negotiate,” he explained.
During his appearance, Bessent defended the Trump administration using trade deficits in its calculus for determining reciprocal tariffs on imports from some foreign countries. He also noted that “academic studies have shown that it’s the non-tariff trade barriers that are the real problem in the U.S. having free and fair access to these markets.”