Bengaluru — US treasury secretary Scott Bessent said he expected trade talks to be finalised by October, the Nikkei newspaper reported on Monday.
Tariffs were likely to shrink if trade imbalances improve, he said, adding that the outcome would vary from country to country.
Several countries have yet to secure a deal. In the Nikkei interview, which was quoted by news media including Bloomberg, Bessent said the US expected to largely complete negotiations by October.
Trump’s sweeping new tariffs on imports took effect last week after being delayed for 90 days while countries sought to secure deals. Some, including Switzerland, Canada, SA and Mexico, are still working towards better terms.
He also emphasised the value of maintaining the Federal Reserve’s independence but said the next Fed chair should be “forward-looking” rather than focused on past economic data.
Trump has signalled his intention to replace current Fed chair Jerome Powell, whom he has criticised for the Fed’s interest rate policy. With Staff Writer
Reuters
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