U.S. Sees Promising Progress in Asian Trade Talks, Slower Negotiations With EU – Treasury Secretary Bessent
Riyadh, Saudi Arabia — The United States has recently made promising strides in bilateral trade negotiations with major Asian economies, signaling a positive shift in international economic dialogue, according to U.S. Treasury Secretary Scott Bessent.
Speaking at the Saudi Arabia–U.S. Investment Forum, Bessent emphasized the momentum in discussions with Asian partners as a key priority in U.S. trade policy.
“I’m currently focused on agreements in Asia. We’ve had very productive discussions with Japan. South Korea is undergoing a leadership transition, but before entering their election cycle, they approached us with strong proposals. Indonesia — a major trade partner — is in excellent contact with us right now. Taiwan has presented innovative initiatives, and we’re also seeing great progress with Thailand,” Bessent stated in a live-streamed address.
Asia Leading the Way in U.S. Trade Engagement
The Treasury Secretary described the current state of U.S.-Asia trade relations as highly encouraging. According to Bessent, the willingness of countries in the region to engage in direct and constructive dialogue is accelerating progress on tariff reductions and market access.
EU Trade Talks Facing Structural Challenges
While Asia shows positive developments, talks with the European Union have been moving more slowly. Bessent attributed the lag to the EU’s complex decision-making process, which requires consensus among member states with diverse national interests.
Despite these challenges, Bessent expressed confidence that the U.S. would reach a favorable agreement with European partners in the near future.
“The EU process is inherently slower due to its organizational structure, but we are optimistic about securing a mutually beneficial deal soon,” he concluded.