Reported 1 day ago
US Treasury Secretary Scott Bessent defended the newly imposed tariffs amid a significant market sell-off, asserting that they are necessary and do not indicate an impending recession. Despite over 50 countries reaching out for negotiations, he stressed that long-standing trade issues cannot be resolved quickly. The tariffs, which could raise import taxes to their highest in over a century, have led to predictions of a potential US recession this year, which economists at JPMorgan are now anticipating.
Source: YAHOO