The Treasury Secretary, Scott Bessent, appeared on “Meet The Press” by NBC News on Sunday, faced with a few sharp questions about the two -day stock market crash that followed this week the announcement of the “Liberation Day” price of President Donald Trump.
During the interview, Bessent told the host Kristen Welker that Trump’s radical samples were necessary and pushed back to the warnings of a recession.
“I do not see any reason that we have at prices in a recession,” he said.
“What we are looking at is to build the long-term economic fundamentals of prosperity,” he added.
Pressed if Trump’s latest tariff dam would be permanent or if it was simply a negotiation tactic, Bessent said that Trump had “created a maximum lever effect for himself” and that more than 50 countries were trying to negotiate the functions.
“More than 50 countries have approached the administration to reduce their non-pricing commercial barriers, by reducing their prices, stopping the manipulation of currencies,” he said, adding that all talks would take time.
Elsewhere in the interview, Bessent tried to reassure the Americans concerned with the potential impact on their retirement plans.
The secretary of the Treasury said that it was a “false story” that people who were trying to retire in the near future could be worried about it after their retirement savings have taken a shift this week.
“The Americans who want to retire at the moment, the Americans who have put for years in their savings accounts, I think they are not looking at daily fluctuations,” said Bessent.
“In fact, most Americans do not have everything on the market,” he continued. “The reason why the stock market is considered to be a good investment is that it is a long -term investment. If you look day by day, from week to week, it’s very risky.”
US President Donald Trump has announced new import rates. SOMODEVILLA / GETTY Images chip
Trump announced on Wednesday, announced that his “Liberation Day” rates, and a reference rate of 10% on business partners entered into force on Saturday. Some nations, such as Cambodia, Laos and Vietnam, are expected to face much higher rates that should start on April 9.
Vietnam said on Sunday that it was ready to negotiate to remove all prices on American products because it seeks to delay the 46% levy on the Vietnamese imports set out by the Trump administration.
A special Vietnam envoy will go to the United States to continue the talks, said a senior Vietnamese official, according to a government press release.
businessinsider
