US Treasury Secretary Scott Bessent has shown great optimism about the American economy's strength, asserting that key fundamentals remain robust despite global challenges.
At a live event conducted by The Wall Street Journal in Washington, Bessent mentioned that the economy is likely to experience strong growth, possibly exceeding 3 percent and aiming towards 3.5 percent this year.
Addressing current trade policies, he indicated that tariffs imposed on various countries may see reduction soon, with a possibility of reverting to previous levels by July based on policy decisions.
This follows a pivotal Supreme Court ruling in February, which found that former President Donald Trump's implementation of extensive global tariffs exceeded his authority.
Such a ruling has paved the way for potential policy changes that could lessen trade frictions and bolster economic growth in the upcoming months.
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