US Treasury Secretary Besent: Many countries are proposing "very good" solutions to tariffs issues, and the US-India trade agreement may be the first to be reached.

US Treasury Secretary Steven Bentsen said on Monday that several major trading partners of the United States have proposed "very good" solutions to avoid US tariffs, with a trade agreement with India likely to be one of the earliest to be reached. After two morning TV interviews, Bentsen told reporters that the first trade agreement could be signed this week or next, but he did not disclose more details. Bentsen said in the interview that President Trump will be "deeply involved" in customizing trade agreements with 15 to 18 major trading partners one by one, emphasizing the importance of reaching agreements in principle as soon as possible. He said, "I guess India will be one of the first trade agreements we sign." He also added that there have been very in-depth negotiations with Japan, and talks with other Asian trading partners have been progressing well. Since taking office, Trump has significantly altered the global trade landscape, imposing tariffs on goods from multiple countries, including a 10% uniform tariff on most countries other than Canada and Mexico, and a total of 145% new tariffs on Chinese goods, to which China has responded with countermeasures. Unless agreements are reached before the end of the 90-day pause period, higher tariffs on dozens of countries will officially take effect on July 8. A Treasury Department spokesperson declined to provide further details on the current negotiations. During the International Monetary Fund (IMF) and World Bank meetings last week, Bentsen held dozens of meetings with visiting officials. On Tuesday, he will continue to field questions about trade negotiations at the White House's regular press briefing, using it as an opportunity to promote President Trump's achievements in the first 100 days of his second term. Bentsen told the media, "Vice President Pence visited India just last week and talked about substantive progress being made on both sides. I have also mentioned that negotiations with the Republic of Korea have been very smooth, and negotiations with our ally Japan have also made significant progress." Despite ongoing negotiations, no agreements have been announced yet, highlighting the complexity of reaching agreements within just 90 days. Meanwhile, India is also engaged in a two-day meeting with the UK on a bilateral trade agreement, aiming to conclude a negotiation process that has lasted over three years. However, a South Korean government official said on Monday that Seoul will not reach a comprehensive trade agreement with Washington before the June 3 presidential election, and expressed doubts about reaching an agreement before early July. The upcoming elections in Japan in July could also bring uncertainties to the negotiations, but some analysts expect Japanese Prime Minister Yoshihide Suga and Trump to announce an agreement at the G7 summit in Canada in June.