Jessica Mendoza

How would you describe Treasury Secretary Scott Besant's role during these talks?

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

So the U.S. lowered its baseline tariffs all the way back down to 10% on Chinese goods. But there's an additional 20% tariff still in place, tied to fentanyl.

So the U.S. lowered its baseline tariffs all the way back down to 10% on Chinese goods. But there's an additional 20% tariff still in place, tied to fentanyl.

So the U.S. lowered its baseline tariffs all the way back down to 10% on Chinese goods. But there's an additional 20% tariff still in place, tied to fentanyl.

Okay, so the deal gets done. And according to your reporting, Brian, a lot of the credit goes to Scott Besant. How did he wind up in that position where he has President Trump's trust to negotiate such a high-stakes deal?

Okay, so the deal gets done. And according to your reporting, Brian, a lot of the credit goes to Scott Besant. How did he wind up in that position where he has President Trump's trust to negotiate such a high-stakes deal?

Okay, so the deal gets done. And according to your reporting, Brian, a lot of the credit goes to Scott Besant. How did he wind up in that position where he has President Trump's trust to negotiate such a high-stakes deal?

Besant also worked well with U.S. Trade Representative Jameson Greer, who was the other key figure on the U.S. side in these talks. In Geneva, Brian was able to see the dynamic between them up close.

Besant also worked well with U.S. Trade Representative Jameson Greer, who was the other key figure on the U.S. side in these talks. In Geneva, Brian was able to see the dynamic between them up close.

Besant also worked well with U.S. Trade Representative Jameson Greer, who was the other key figure on the U.S. side in these talks. In Geneva, Brian was able to see the dynamic between them up close.

Despite their good working relationship, the duo faced an uphill battle. Tensions with China were high, and this was the first time the two countries were officially meeting to discuss Trump's tariffs. Was it surprising that a deal got done?