US Treasury Secretary, Scott Bessent, brought a provocative tone on Sunday to the world’s financial markets that are strongly sold in response to new American prices, arguing that the new functions were necessary and rejecting the idea that they would provoke an American recession.
“I do not see any reason that we have at prices in a recession,” said Bessent in NBCMeet the press with Kristen Welker.
Bessent did not give any indication that President Donald Trump was willing to retreat to the new prices he introduced last week. He said that more than 50 countries had called for the administration in search of negotiations, but that discussions will take time.
From the point of view of the United States, other countries “have been bad actors for a long time,” said Bessent, adding that problems could not be negotiated in a few days or weeks.
“We will have to see what the countries offer and if it is credible,” he said. “I think we will have to see the way to follow.”
He added: “After decades of” bad behavior, you cannot just wipe the slate. »»
The efforts of Bessent to calm the markets came the day after an additional right of 10% on all American imports came into force on Saturday. Additional tailor -made prices of up to 50% should come into force on imports of around 60 countries on Wednesday.
The prices announced will bring taxes on imports into the United States to its highest level for more than a century and have caused a widespread demotion of growth expectations for American and global economies. JPMorgan economists said on Friday that they are now expecting the United States to slip into a recession this year.
Trump, who spent the weekend training phone calls and participating in the club championship in his Florida Golf Club, said he wanted to reshape the world’s advantage of America. He argues that prices will bring a wave of new investments while businesses build new factories in the United States, bringing jobs and wealth to the United States.
The main objective of his anger is an American trade deficit in goods that exceeded $ 1 Billion of dollars last year. In the past two days of negotiation, American shares have lost 5 billions of dollars in value, investors have sold shares in anticipation of an American and global economic slowdown.
This story was initially presented on Fortune.com
