US optimistic on ‘very good’ tariff plans, treasure secretary says ‘good faith’ key to trade deals

News Snapshot:

United States Secretary of the Treasury Scott Bessent has expressed cautious optimism regarding the proposals submitted by various countries for new tariff rates, stating that, with few exceptions, the offers have been very favourable. Speaking on the ongoing trade negotiations, Bessent emphasised that the success and timing of trade deals will largely depend on whether the involved countries engage in good faith during discussions. The US Secretary of Treasury's comments come against the backdrop of a complex global trade environment, where heightened tariffs and protectionist measures have strained international relations and disrupted supply chains. Bessent’s remarks highlight the delicate nature...