On April 9, President Donald Trump met with reporters in the Oval Office of the White House in Washington, D.C., regarding mutual tariff suspensions. Treasury Secretary Scott Besenth (center) and Commerce Secretary Howard Laughtnick (right) were present. /Reuters=News1.
Scott Besenth, the Treasury Secretary leading the tariff negotiations for the Trump administration, announced plans for negotiations with Korea next week, stating that the first countries to negotiate would enjoy a “first-mover advantage.”
In an interview with Bloomberg TV on the 14th (local time), Secretary Besenth said, “We had negotiations with Vietnam last week, Japan on the 16th, and Korea next week,” adding that the negotiations would “proceed quickly.”
He further mentioned that allies would have the “advantage of moving first,” emphasizing that those who finalize negotiations early usually reach the best agreements.
When asked whether he expects any countries to finalize the negotiations before the 90-day mutual tariff suspension ends, Besenth replied, “There could be many,” noting that while it may not be a formal trade agreement, a principle agreement could be made, allowing for future progress.
Diplomats observe that given the tight timeframe to establish multiple formal trade agreements within 90 days, there might be expedited agreements promising trade balance improvements and reduction of trade barriers.
Responding to the question of whether mutual tariffs could be completely eliminated through negotiations, Secretary Besenth stated, “Bring your best offer,” indicating a readiness to begin negotiations upon seeing what is proposed.
He added, “Ultimately, President Trump will be involved in the negotiations, especially with our most important trading partners.”
According to the Wall Street Journal, the Trump administration prioritizes negotiations with five countries, including Korea, the United Kingdom, Australia, India, and Japan. The Journal reports that Secretary Besenth has communicated this prioritization to these countries and is in contact with their officials.
On April 9, at the American Bankers Association event, Secretary Besenth announced his role in leading the tariff negotiations and explained the decision to suspend mutual tariffs for over 60 countries, excluding China, to reporters at the White House, highlighting his increasing prominence in the tariff and trade war issues.