US Treasury Secretary Bessent: We will stabilize debt-to-GDP by 2028
|United States (US) Secretary of the Treasury Scott Bessent stated the Trump administration's intention to "stabilize" the US's debt-to-Gross Domestic Product (GDP) ratio by 2028, and insisted that trade agreements will be announced in the weeks ahead.
President Donald Trump was elected on a campaign platform to have the US's debt issue resolved "within months", and White House staffers have been noting that trade deals that have been strong-armed out of other countries by Trump tariffs are "days away" for weeks.
Key highlights
President can establish trade agenda for the United States.
courts obstructing tariff revenue.
trading partners approaching us in good faith
trading partners approaching us positively, have observed no shift in their stances in the past 48 hours
Couple of large deals are near.
Japanese delegation visiting office Monday.
Judiciary has no right to comment on tariffs.
Expect China discussions to continue in coming weeks.
Considers a conversation between Trump and Xi in the future.
China negotiations bit slow.
Tariffs not distinct from budget.
Anticipate additional China discussions in upcoming weeks.
European Union in movement as well.
Predicts federal deficit will be smaller year on year than last.
Elon Musk completed significant tasks, DOGE will not end with Elon.
Treasury includes several Department of Government Employees on a permanent basis.
By 2028, we will stabilize debt to gross domestic product.
Sympathetic to deficit hawks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.