Treasury Secretary Scott Bessent squirmed in his seat when he was pressed on President Donald Trump’s faltering trade deal negotiations on Fox News. In early April, Trump’s trade adviser Peter Navarro said the Trump administration was primed to strike 90 deals in 90 days with trade partners.

President Trump’s threat to impose 50% tariffs on European Union goods may be a negotiating gambit. But it also shows why reaching trade deals with major exporters including Japan and South Korea will be far tougher than with the U.

U.S. Treasury Secretary Scott Bessent testifies before a House Appropriations Financial Services Subcommittee oversight hearing on "The United States Air Force and Space Force," on Capitol Hill in Washington,