US and Chinese trade teams to meet in 2 to 3 months, Trump's Treasury chief says
In an interview on Fox Business Network's Kudlow, Bessent said the US will need to see 'months, if not quarters, if not a year' of progress on fentanyl flows before it considers reducing tariffs on China.
The Treasury chief also said that increasing revenues flowing into US government coffers from tariffs would make it difficult for the Supreme Court to rule against the Trump administration on the issue if a lower court case makes its way to country's top court.
'The more money coming in, it gets harder and harder for SCOTUS to rule against us,' Bessent said in response to a question about a case currently in front of the US Court of Appeals for the Federal Circuit in Washington that challenges the legality of what Trump calls 'reciprocal' tariffs as well as a separate set of tariffs imposed in February against China, Canada and Mexico.
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He added that several large trade agreements were still waiting to be completed, including with Switzerland and India, but the South Asian country had been 'a bit recalcitrant' in talks with the United States.
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