U.S. Treasury Secretary Basant: The quality of trade agreements is more important than the timing of their signing

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Basant stated that trade negotiations are currently underway, and he is more concerned about reaching a high-quality agreement rather than completing it before August 1. Basant mentioned that they are not in a hurry, but it can be imagined that the EU would prefer to negotiate more quickly; however, at least the EU has become more engaged now. Their top priority is to secure the best deal for the U.S. (on the Japan issue).

Some analysts say that Basant's remarks indicate that there is likely to be a "delay tactic" again by August 1, so people can stay tuned. Meanwhile, regarding Powell, Basant stated, "Ultimately, this is Trump's decision on Powell." He then added that they need to view the Federal Reserve as a whole institution.