India could be one of the first countries to finalize a new trade deal with the U.S., according to Treasury Secretary Scott Bessent, who spoke on CNBC Monday. Bessent explained that the administration is actively working on “bespoke” agreements with 18 trading partners, with President Donald Trump closely involved in every negotiation. In a separate interview with Fox News, Bessent emphasized that the goal is to reach tailored agreements quickly, although China remains a more complicated case.
While China negotiations are ongoing, Bessent said that the U.S. is reviewing proposals from other major countries, many of which have submitted strong offers. He also mentioned that the U.S. government uses a standardized framework for its trade agreements, but they are choosing not to make it public. The focus, for now, is on securing deals with partners outside of China, where talks are more straightforward and less politically sensitive.
Regarding China, Bessent said the relationship is challenging and stressed that the country needs to take the first steps to ease tensions. He pointed out that China exports significantly more goods to the U.S. than it imports, which makes the current 125%–145% tariff rates unsustainable in the long run. “I am sure they will want to come and de-escalate,” Bessent added, and suggested that China has strong incentives to return to the negotiating table.
Is SPY a Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on the SPDR S&P 500 ETF Trust (SPY) based on 406 Buys, 91 Holds, and seven Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average SPY price target of $656.06 per share implies 19.4% upside potential.
