“Remember that we are the deficit nation,” he said.
The treasury secretary also said that trade negotiations with other Asian partners—especially India—are moving further.
Vice President J.D. Vance just visited India, he observed, and had fruitful talks with Indian Prime Minister Narendra Modi.
“They have been the most forthcoming in terms of completing the deals,” Bessent added.
Negotiations with Japan and South Korea also seem to be under way; Bessent says fresh trade deals with both countries could surface in the next weeks.
The lowering of China’s ethane tax could represent a turning point in Washington’s developing trade ties with Beijing.
