United States (US) Treasury Secretary Scott Bessent said on Tuesday that President Donald Trump is creating “strategic uncertainty” in trade negotiations, per Reuters.
Key takeaways
“Aperture of uncertainty will be narrowing.”
“We want long term tariff revenue and deals.”,
“Will speak to at least 17 partners over next few weeks.”
“Good chance we’ll see income tax relief in tax bill.”
“Tariff income could be used for tax relief.”
“Over time, will see that Chinese tariffs not sustainable for China.”
“Don’t anticipate supply chain shocks.”
“Asia trading partners have been most forthcoming.”
“Could see some India announcements.”
“Could see South Korea deal contours coming together.”
“Had substantial talks with Japan.”
“Won’t detail auto tariff relief.”
“Auto relief would go toward re-shoring manufacturing.”
“Want to see internet tax in EU removed.”
Market reaction
These comments don’t seem to be having a noticeable impact on the US Dollar’s (USD) performance. At the time of press, the USD Index was up 0.15% on the day at 99.08.
