[Text/Watchman Online Chen Sijia] Since taking office, US President Trump has continuously escalated the "tariff war", attempting to force countries around the world to engage in trade negotiations with the United States through the "big stick" of tariffs. According to a report by Bloomberg on April 14, US Treasury Secretary Bessent stated that the first country to negotiate trade with the United States will have a "first-mover advantage," and the one who reaches an agreement first can get the "best deal."

The so-called "reciprocal tariff" policy of the Trump administration has caused turmoil in financial markets, with large-scale sales of US Treasury bonds. The report said that last week, the yield on US Treasury bonds recorded the largest weekly increase since 2001, while the dollar continued to fall. In the view of many market participants, this reflects a decline in international confidence in US assets, as investors are leaving US assets.

However, when interviewed by Bloomberg, Bessent insisted that he does not believe foreign investors are selling US Treasury bonds, and the rise in Treasury yields and the fall in the dollar do not mean that the United States is losing its "safe haven" status. He claimed that the dollar remains the global reserve currency, and the US government is still implementing a "strong dollar policy."

When asked whether Federal Reserve Chairman Powell is concerned about the US Treasury market, Bessent denied it. He said, "If that were the case, we should have heard from the Fed chairman already."

About the Trump administration's tariff policy, Bessent claimed that the first country to negotiate trade with the United States will have a "first-mover advantage," and "usually, the first to reach an agreement can get the best deal."

Bessent also said that after the 90-day tariff suspension period for some countries ends, the Trump administration may not issue formal "trade documents," but may instead introduce a "principle-based agreement" to allow the US to continue cooperation with relevant countries.

US Treasury Secretary Bessent Video Screenshot

According to reports by The Wall Street Journal on April 14, citing sources, Bessent is prioritizing trade agreements with the UK, Australia, South Korea, India, and Japan. According to the sources, Bessent informed allies that these countries are his top priorities, and he has already contacted officials from these countries.

Trump announced on February 2 that he would impose so-called "reciprocal tariffs" on trading partners, claiming that this move could reverse America's trade deficit, bring income to the US government, and revitalize American manufacturing. However, this move triggered strong criticism and panic. After US Treasury bonds were sold off by investors, Trump announced on February 9 that the implementation of "reciprocal tariffs" would be postponed for 90 days for most countries, but retained a 10% "minimum benchmark tariff."

"Politico News" reported on February 11, citing White House sources, that the Trump administration is only seriously negotiating with Vietnam, India, South Korea, and Japan, which are a few Asian countries "geographically strategically constraining China." Most other countries can only passively wait for the US response. A White House official also confirmed this strategy.

Reuters pointed out that for the understaffed Trump administration, coordinating dozens of negotiations within 90 days itself is a huge challenge. Many key positions in the current Trump administration remain unfilled, and existing officials often hold multiple roles. A diplomatic source said that several senior trade advisors of Trump himself cannot unify the stance on trade negotiations.

American Cable News Network (CNN) emphasized that trade agreement negotiations are complex work that often takes years. Even if the Trump administration has the ability to complete trade negotiations with dozens of countries in a short time, they cannot resolve the trade dispute with China. As the world's largest exporter, this issue cannot be avoided.

Trump has announced that the rate on Chinese goods will be increased to 145%. After US Treasuries continued to be sold off, Trump announced a temporary exemption from some tariffs on electronics, but then denied it was an "exemption" and threatened separate taxation.

Regarding the tariff issue, Chinese Foreign Ministry Spokesperson Lin Jian stated on February 11 that China has repeatedly stated its solemn position on the tariff issue. There is no winner in a tariff war or trade war. China does not want to fight, but it is not afraid to fight. If the US side really wants to solve problems through dialogue and negotiation, it should stop extreme pressure and reckless behavior. China never accepts this, and any dialogue must be based on equality, respect, and mutual benefit. If the US side insists on fighting a tariff war or trade war, China will see it through to the end.

Lin Jian pointed out that China is a responsible country. We take countermeasures against the US bullying behavior not only to protect our legitimate rights and interests but also to uphold international rules and order, to safeguard the common interests of all countries in the world, and to uphold international fairness and justice. Facing the US bullying behavior, compromise and retreat have no way out.

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Original text: https://www.toutiao.com/article/7493372246228992531/

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