On Sunday, US Treasury Secretary Scott Payet struck a challenging tone in the face of global financial markets that sell sharply in response to the new American definitions, on the pretext that the new duties were necessary and rejected the idea that it would cause an American recession.
“I don’t see any reason for our pricing in the recession,” Besent told NBC’sMeet the press with Christine Wilker.
BESSENT did not give any indication that President Donald Trump was ready to back down from the overwhelming new definitions he presented last week. He said that more than 50 countries contacted the administration in search of negotiations, but any talks would take some time.
From the point of view of the United States, other countries were “bad actors for a long time”, adding that issues cannot be negotiated within days or weeks.
He said: “We will have to see what the two countries offer and if it is possible to believe.” “I think we will have to see the path forward.”
He added: “After decades of” bad behavior, you cannot scan the clean menu. “
Bessent’s efforts to calm the markets came the next day for an additional 10 % duty to all US imports in effect on Saturday. The additional definitions specially designed by up to 50 % are scheduled to enter imports from about 60 countries on Wednesday.
The declared definitions will transfer our import taxes to its highest level in more than a century and have pushed to wide discounts in the growth expectations of American economies and global economies. Economists at JPMorgan said on Friday that they now expect the United States to slip into the recession this year.
Trump, who spent the weekend in depositing phone calls and competing at the club’s club championship in Florida Golf, said he wanted to reshape the global economy in America’s feature. He argues that definitions will bring a wave of new investments as companies build new factories in the United States, making jobs and wealth to the United States.
The main goal of his anger is an American commercial deficit in goods, which amounted to $ 1 trillion last year. In the past two days, American stocks have lost $ 5 trillion in value as investors sold shares in anticipation of the American and global economic slowdown.
This story was originally shown on Fortune.com
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