Bessent: Election gives Japan 'domestic constraints' on cutting trade deal
He spoke in an interview with CNBC on Thursday, discussing negotiations with Japan over tariff measures by President Donald Trump's administration.
Bessent said Japan is "in a tough spot right now." He said the July 20 election gives it "a lot of domestic constraints in terms of doing a deal." He added that "we'll see where the Japanese deal goes."
Bessent also commented on what Trump calls "reciprocal" tariffs on countries and territories with which the US runs large trade deficits. The target nations include Japan.
Regarding whether Washington will extend the Wednesday deadline for a pause to the levies to expire, Bessent said the president will "be the one to determine whether they are negotiating in good faith."
Trump labels US trade with Japan unfair. He has suggested he would raise tariffs on Japan to 30 to 35 percent.
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