Post by : Badri Ariffin

In a recent discussion at a live event hosted by The Wall Street Journal, US Treasury Secretary Scott Bessent conveyed a strong sense of optimism regarding the American economy. He emphasized that core economic indicators are holding firm amid global challenges.

Bessent forecasted that the economy is on course to achieve significant growth, with estimates suggesting that it could exceed 3 percent, possibly reaching 3.5 percent within this fiscal year.

The Secretary also touched on the evolving landscape of trade policies, revealing that there may be forthcoming reductions in tariffs affecting multiple nations. He estimated that these tariffs could be reverted by July, contingent on upcoming policy shifts.

This anticipated adjustment comes in the wake of a February ruling from the US Supreme Court, which determined that former President Donald Trump had overstepped his authority regarding global tariffs through emergency provisions.

This ruling paves the way for potential adjustments to policy that could alleviate trade friction and further enhance economic growth in the near future.

#Global News #Business News #Economy #UAE Economy