U.S. Treasury Secretary Scott Bessent said in a CNBC interview on Tuesday that after "Liberation Day," President Donald Trump believed the U.S. should go into quiet mode and wait for countries to reach out.
The official urged trading partners not to panic or escalate tensions, emphasising that everything remains on the table in trade talks. He noted that if countries come back with solid proposals, the U.S. end up some good deals, after which, however, some part of the tariffs might remain in place.
Bessent also said Trump will be personally involved in the negotiations and highlighted that many trading partners have “kept their cool,” and those who refrained from escalation will receive priority in talks.
U.S. Treasury Secretary criticized China’s response to the U.S. tariffs, calling their escalation a “big mistake,” and remarked that “they’re playing with a pair of twos.”