Over 50 Countries Support Global Tariffs, U.S. Treasury Secretary Announces Negotiations
Positive responses from numerous nations as discussions on global tariffs are set to commence.
U.S. Treasury Secretary Scott Bessent reported that more than 50 countries have expressed support for global tariffs, with substantive negotiations planned in the coming weeks.
During a recent update on social media platform X, Bessent emphasized Japan's continued status as one of America’s closest allies, commending the Japanese government for its thoughtful approach in this process.
In contrast, Bessent noted that China has chosen to isolate itself amid these developments.
The announcement follows a global trade conflict initiated by President Donald Trump last Wednesday, which has contributed to declines in stock markets from Asia to Europe and Wall Street.
Trump's expectations posit that punitive tariffs imposed on countries worldwide will ignite a new golden era for the United States.
He anticipates that these tariffs will revitalize the American economy and generate substantial revenue for the country.
However, major investment banks express a more cautious outlook.
Goldman Sachs recently projected that there is a 45 percent chance the U.S. could fall into recession due to the ongoing trade war.
The introduction of tariffs is expected to be just the beginning, viewed by some as a means to an end rather than a final objective.
Advisors to Trump observe that the core issue affecting the U.S. economy is not solely related to imports but rather the valuation of the dollar and its global role.
They suggest that substantial reforms to global trade rules, driven by American strength, are necessary to address these concerns.
This approach has led to speculation about a potential agreement akin to historical accords such as the Bretton Woods Agreement or the Plaza Accord, possibly branded as the Mar-a-Lago Accord in reference to Trump’s Florida estate.
During a recent update on social media platform X, Bessent emphasized Japan's continued status as one of America’s closest allies, commending the Japanese government for its thoughtful approach in this process.
In contrast, Bessent noted that China has chosen to isolate itself amid these developments.
The announcement follows a global trade conflict initiated by President Donald Trump last Wednesday, which has contributed to declines in stock markets from Asia to Europe and Wall Street.
Trump's expectations posit that punitive tariffs imposed on countries worldwide will ignite a new golden era for the United States.
He anticipates that these tariffs will revitalize the American economy and generate substantial revenue for the country.
However, major investment banks express a more cautious outlook.
Goldman Sachs recently projected that there is a 45 percent chance the U.S. could fall into recession due to the ongoing trade war.
The introduction of tariffs is expected to be just the beginning, viewed by some as a means to an end rather than a final objective.
Advisors to Trump observe that the core issue affecting the U.S. economy is not solely related to imports but rather the valuation of the dollar and its global role.
They suggest that substantial reforms to global trade rules, driven by American strength, are necessary to address these concerns.
This approach has led to speculation about a potential agreement akin to historical accords such as the Bretton Woods Agreement or the Plaza Accord, possibly branded as the Mar-a-Lago Accord in reference to Trump’s Florida estate.
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