US Treasury Secretary Bessent: We're very close to some deals on trade, maybe

Joshua Gibson FXStreet

United States (US) Secretary of the Treasury Scott Bessent spoke on Monday, touching on various topics surrounding the Trump administration's constantly evolving trade strategy. Actual details about the US's direction on foreign trade remain incredibly fluid, as figures touted by key Trump administration officials continue to change.

Key highlights

We think we can get growth back to 3% by this time next year.

We can get the Congressional Budget Office (CBO) down by sometime this year.

We're very close to some deals on trade, maybe as early as this week on trade deals.

I am highly confident that 17 trading partners, excluding China, have presented very good trade proposals.

We could see substantial progress on trade with China in the coming weeks.

We want to bring down the federal deficit by maybe 1% per year.

We're trying to create the best environment for stable rates.

Growth of private credit is a sign that banks are too tightly regulated.

China has only offered what they've said publicly.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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