US Bessent: Tariff negotiations are the result of massive inbound calls, not markets
Tariff negotiations are the result of massive inbound calls, not markets.On VAT tax with Europe everything is on the table.Trump will be personally involved in negotiations.Tariffs will be a melting ice cube if successful.Have discussed which country to prioritise.If there are solid proposals, we can end up with good deals.As part of calculus with deals, some part of tariffs may stay on.China's escalation was a big mistake.I was not involved in the calculations of the numbers.Trump is committed to fixing trade imbalances.These are some positive remarks and will keep the hope for deals alive. Bessent also wants to make it clear that he was not involved in the calculations. Markets are not reacting much despite the positive comments probably because they are now waiting for something more tangible. There's also the offshore yuan which continues to weaken and USD/CNH is approaching the key 7.3750 level. A devaluation would send the markets into risk-off again. This article was written by Giuseppe Dellamotta at www.forexlive.com.
- Tariff negotiations are the result of massive inbound calls, not markets.
- On VAT tax with Europe everything is on the table.
- Trump will be personally involved in negotiations.
- Tariffs will be a melting ice cube if successful.
- Have discussed which country to prioritise.
- If there are solid proposals, we can end up with good deals.
- As part of calculus with deals, some part of tariffs may stay on.
- China's escalation was a big mistake.
- I was not involved in the calculations of the numbers.
- Trump is committed to fixing trade imbalances.
These are some positive remarks and will keep the hope for deals alive. Bessent also wants to make it clear that he was not involved in the calculations. Markets are not reacting much despite the positive comments probably because they are now waiting for something more tangible. There's also the offshore yuan which continues to weaken and USD/CNH is approaching the key 7.3750 level. A devaluation would send the markets into risk-off again.
