US Treasury Secretary Scott Bessent Reveals Tariff Details

On Tuesday, United States Treasury Secretary Scott Bessent made a significant announcement regarding the upcoming trade restrictions. He stated that each country targeted by these US trade measures will receive a specific tariff number effective from April 2. Bessent mentioned that while some countries might face low tariffs, approximately 15% of the countries will bear the brunt of these imposed levies.

Bessent's Insight on Economic Outlook and Sanctions

During his interview with Fox Business, Bessent shared his views on the current economic climate and the impact of sanctions. He dismissed the notion of seeking guarantees from the Trump administration to prevent a recession, emphasizing the robustness of the underlying economy. Bessent also revealed that President Donald Trump has tasked him with reconsidering the sanctions regime, citing concerns over its effect on the dollar's reserve status.