Washington: U.S. Treasury Secretary Scott Bessent is focusing on South Korea, Britain, Australia, India, and Japan as his "top targets" for negotiating new trade deals. These nations are striving to manage a series of new tariffs recently announced by President Donald Trump.
According to Yonhap News Agency, The Wall Street Journal reported that these countries are high on Bessent's list, and he has been actively communicating with officials from these trading partners. This move comes in the wake of President Trump's announcement on April 2 of "reciprocal" tariffs, which included 25 percent duties on South Korea. However, a subsequent decision was made to delay these tariffs for 90 days for nearly 60 countries, excluding China, and to implement a 10 percent baseline tariff instead.
On Monday, National Economic Council Director Kevin Hassett informed CNBC that over 10 countries have submitted notable trade-deal proposals.