US Equity futures are accelerating gains following comments by US Treasury Secretary Bessent this morning that tariff negotiations are result of massive inbound calls, not the market.
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When asked about tax with Europe, says everything is on the table.
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Trump will be personally involved in negotiations.
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Japan, South Korea and Taiwan may be engaged in Alaska deal (Early March, Trump said Japan, south Korea and others want to partner with US in a gigantic natural gas pipeline in Alaska).
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If they are successful, tariffs would be a melting ice cube in a way.
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Have discussed which countries to prioritize.
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If there are solid proposals, could end up with some good deals.
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As part of calculus with deals, some part of tariffs may stay on.
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Bessent was not involved in the calculations of the tariff numbers.
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Thinks escalation by China was a big mistake.
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US President Trump is committed to fixing trade imbalances.
The reaction was positive to Bessent’s comments:
Watch Bessent’s full interview here: “The President has maximum negotiating leverage. Many of our trading partners have not escalated, and they will get priority in the queue. I think it was a big mistake, this Chinese escalation.”
BESSENT: The President has maximum negotiating leverage. Many of our trading partners have not escalated, and they will get priority in the queue. I think it was a big mistake, this Chinese escalation.
— Election Wizard (@ElectionWiz) April 8, 2025
Is the short-squeeze back sustainable?
Politico reports that Bessent is having some success steering the White House tariff messaging away from permanence and toward negotiations after warning Trump of further market losses.
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