Washington: US Treasury Secretary Scott Besant defends President Donald Trump’s tumor tariff policy on Sunday – which placed global markets on a roller coaster – as a way to create “strategic uncertainty” that gives up the upper hand to Washington.
Since returning to the presidency in January, Trump has slapped 10% tariffs on most American trading partners and a separate 145% levy on many China products.
Beijing has responded to its own 125% tariff on American goods.
Dozens of countries are ending 90 days in July to attack an agreement with Washington and avoid high, country-specific rates.
“In game theory, it is called strategic uncertainty, so you are not going to tell the person on the other side of the conversation, where you are going to end,” Besant told the “This Week” news program of ABC.
The Treasury Secretary said, “There is no better in creating this length than President Trump.”
“They have shown high tariffs, and there is a stick.
Despite Trump’s saying that there are many deals on the table, the details are very few, and when pressed for clarification, Besant said, only a few negotiations “were moving very well, especially with Asian countries.”
For now, Washington has preferred discussions with key colleagues such as Japan, South Korea and Switzerland.
Trump recently said in an interview with Time magazine that Chinese President Xi Jinping had called him to discuss trade between the top two economies in the world, although Beijing again said on Saturday that no business talks were held.
Besent suggested that China may refuse to have a conversation because “they are playing for a separate audience.”
On NBC’s “Meat the Press”, State Secretary Marco Rubio denied whether Trump and Xi had spoken, only emphasizing that it was a holistic “high-dialogue”.
The President on Sunday suggested on his true social platform that due to his tariff policy, “A large number of jobs are already being made, are currently being made or planned with new plants and factories.”
Trump told Time that he would announce deals with American business partners in the next few weeks.
