Washington, May 24, 2025 – Vietnam Insider – The United States is making significant progress in trade negotiations with several Asian countries and is expected to announce major trade agreements in the coming weeks, according to U.S. Treasury Secretary Scott Bessent.
In an interview with Bloomberg on May 23, Secretary Bessent expressed confidence that Washington will finalize several key trade deals before the 90-day tariff suspension period expires. “I feel that in the next few weeks, we will announce some major agreements. These deals are moving quickly,” he stated.
While Bessent did not name specific countries, he highlighted that India and several Asian nations have submitted “very interesting proposals” and are engaging in negotiations in good faith. He emphasized that many of America’s key trading partners in Asia are actively working toward constructive outcomes.
The momentum in the Asia-Pacific region offers a sharp contrast to the sluggish progress in talks with the European Union. Bessent pointed out the EU’s collective decision-making structure as a challenge, noting that “the EU has 27 countries but is represented by one group in Brussels,” which sometimes leads to internal disconnects during negotiations.
Despite recent threats by President Donald Trump to impose 50% tariffs on EU goods starting June 1, Secretary Bessent framed the statement as a strategic move intended to accelerate discussions in Brussels. “I hope this lights a fire under the EU,” he said.
Bessent, who has been tasked with leading trade negotiations with Asian countries, has remained optimistic about the direction of talks across the region. Meanwhile, Commerce Secretary Howard Lutnick is spearheading efforts with European counterparts.
As global trade continues to face uncertainty, the United States’ progress with Asian partners stands out as a promising development — one that could pave the way for deeper economic cooperation and mutual growth in the months ahead.
