Bessent sees US trade talks largely done by October, Nikkei says

The US expects to largely complete negotiations with countries that have yet to secure a trade deal by the end of October, Nikkei Asia reported, citing an interview with Treasury Secretary Scott Bessent.

The comments, made to Nikkei last Thursday, come after US President Donald Trump’s sweeping new tariffs took effect. Some key trading partners, including Canada, Mexico and Switzerland, are still seeking to secure more favourable terms with the US.

Bessent also reaffirmed the importance of the Federal Reserve’s (Fed) independence but said the next central bank head should be someone “very attuned to forward thinking, as opposed to relying on historical data”. Trump has said he is eager to replace current Fed chair Jerome Powell over their disagreement on interest-rate cuts.

The Treasury secretary is part of the search committee for a nominee to eventually replace Powell.

Source: Bloomberg