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Treasury Secretary Bessent Downplays Tariff Fears for U.S. Households

U.S. Treasury Secretary Scott Bessent has downplayed concerns that tariffs imposed by President Donald Trump will lead to an increase in inflation, citing China's ability to absorb the costs of the tariffs. The secretary expressed confidence in China's business model and stated that it will "eat any tariffs that go on." However, experts have raised concerns about the potential impact of the tariffs on the global economy and consumer prices.

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Bessent Shrugs Off Tariff Selloff, Says Wall Street Isn’t Focus Δ1.89

US Treasury Secretary Scott Bessent has expressed confidence in President Donald Trump's plans to implement tariffs on foreign nations, despite the recent market slump in reaction to the first round of levies on Canada and Mexico. He attributed the market volatility to a temporary phenomenon and argued that prices would not rise due to the tariffs. The focus, according to Bessent, is on Main Street, small businesses, and consumers.

US Treasury's Bessent Outlines Plans to Reshape Global Trade, Ease Bank Regulations Δ1.88

U.S. Treasury Secretary Scott Bessent has laid out the Trump administration's ambitious plans to reshape international trade relations through tariffs and sanctions, while also easing financial regulations on American banks. The new strategy is aimed at promoting American prosperity and upward mobility, with a focus on protecting domestic industries and boosting economic growth. By leveraging tariffs as a revenue source and negotiation tool, Bessent hopes to rebalance the global economic system in favor of the United States.

Us Treasury Secretary Scott Bessent Says Mexico Proposed Matching Us Tariffs on China Δ1.83

Mexico has proposed matching U.S. tariffs on China, which could be seen as a significant move to counter China's growing economic influence in North America. The proposal is likely aimed at addressing the concerns of Trump's administration over unfair trade practices by China. This development may signal a shift in Mexico's stance on China, and its implications for the US-China trade relationship.

Warren Buffett Calls Trump's Tariffs a Tax on Goods, Says 'the Tooth Fairy Doesn't Pay 'Em' Δ1.83

Warren Buffett has made a rare public comment on President Donald Trump’s tariffs, stating that punitive duties could trigger inflation and hurt consumers. "Tariffs are actually, we've had a lot of experience with them," he said. "They're an act of war, to some degree," Buffett added, highlighting the potential economic consequences of such measures.

US Services Sector Expansion Brings Tariff Uncertainty and Inflation Concerns Δ1.83

U.S. services sector growth unexpectedly picked up in February, with prices for inputs increasing amid a surge in raw material costs, suggesting that inflation could heat up in the months ahead. Rising price pressures are worsened by tariffs triggered by President Trump's new levies on Mexican and Canadian goods, as well as a doubling of duties on Chinese goods to 20%. The Institute for Supply Management survey showed resilience in domestic demand but was at odds with so-called hard data indicating a sharp slowdown in gross domestic product this quarter.

US Treasury Chief Urges Canada and Mexico to Match US Tariffs on China Δ1.83

US Treasury Secretary Scott Bessent has urged Canadian and Mexican officials to match the US tariffs on Chinese goods, following a US tariff increase from 10% to 20%. The move comes as the US seeks to bolster its borders against fentanyl trafficking. Canada and Mexico are facing pressure from the Trump administration to secure their borders and curb the flow of Chinese imports.

Tariffs Take Aim: Trump's Trade Posturing Sparks Global Uncertainty Δ1.82

US President Donald Trump is aiming to reshape the country's trade policy using one of his preferred economic tools: tariffs. Here's where things stand with various US trade partners: China: Duties on China went into effect in early February, and China retaliated. Beijing on Friday reportedly vowed to use all necessary countermeasures to the additional 10% tariff on Chinese imports Trump plans to impose in March. Canada and Mexico: After reneging on plans earlier this month, Trump has once again threatened to impose 25% across-the-board tariffs on US neighbors Canada and Mexico.

Us President Donald Trump Imposes Tariffs on China Δ1.82

The US President has announced plans to impose additional tariffs on Chinese imports as part of his trade policy aimed at reshaping the country's economic landscape. The new tariffs will be in addition to existing duties and are expected to have a significant impact on global trade and inflation rates. The move is seen as a response to China's retaliatory measures against US goods.

Trump Set to Plow Ahead with New Tariffs that Could Surpass What He Did in His Entire First Term. Δ1.82

The latest round of tariffs from President Trump is expected to have a significant impact on the US economy, potentially causing a sharper decline in GDP than his previous tariffs. The proposed duties on Canada and Mexico alone are projected to surpass the economic toll of his entire first term if kept in place. This could lead to increased costs for American households, with estimates suggesting an additional $1,000 per household.

U.S. President Donald Trump's Tariffs Raise Recession Red Flags Δ1.82

The recent steep decline in Wall Street futures has raised concerns among investors about the potential impact of U.S. President Donald Trump's trade tariffs on the economy. The 91% of economists who view a downturn as likely under Trump's rapidly shifting trade policies are largely correct, given the uncertainty and volatility surrounding his trade actions. As markets struggle to come to terms with the implications of these tariffs, investors are increasingly looking for signs of weakness in major economies.

Trump Hails Tariffs as US Economy Barrels Into Trade Wars Δ1.82

The US economy is facing significant uncertainty under President Donald Trump's policies, which have been accompanied by warning signs about inflation, factory activity, and consumer confidence. The president's address to Congress highlighted his defense of tariffs as a means to rebalance trading relationships he deemed unfair. However, the long-term implications of this strategy on the economy remain uncertain.

Trump Draws Retaliation with Economic Toll Expected to Be Heavy Δ1.82

The new tariffs imposed by President Trump have drawn swift retaliation from Canada and China, leading to concerns about the potential economic impact on the US. The tax foundation estimates that Trump's 2018-2019 tariffs shrank US GDP by about 0.2%, and the new tariffs this week against Canada and Mexico alone are projected to surpass that, even setting aside any retaliation. The uncertainty created by these tariffs is sowing confusion in the economy, with investors and consumers alike taking a hit.

US Tariff Policy Faces Growing Global Backlash Δ1.82

The US has imposed tariffs on various trading partners, sparking concerns about global trade tensions and their impact on the economy. The ongoing trade war with China has raised prices for consumers and could influence interest rates in the coming months. The effects of the tariffs are being felt across industries, from agriculture to manufacturing.

Trump May Put US Into a Recession, Former Adviser Warns Δ1.82

The Trump administration's aggressive tariff policies could potentially put the US economy in recession, warns Anthony Scaramucci, a former Trump insider. Tariffs are a consumption tax that disproportionately affects low-income households, exacerbating income inequality and reducing consumer spending. As such, President Trump's plans to impose higher tariffs on Mexico, Canada, and China may have unintended consequences for the overall economy.

Trump's Tariff Policy Faces Resistance From US Steelmakers and Global Trade Experts Δ1.81

US Commerce Secretary Howard Lutnick has signaled that the scheduled 25% tariffs on steel and aluminum imports, set to take effect on March 12, will not be reprieved. The levies, ordered by President Donald Trump in February, have been met with resistance from US steelmakers who argue they risk hitting domestic companies that use aluminum and steel. Lutnick attributed the policy to cracking down on countries like Russia and China bypassing existing duties.

Tariffs Set to Surpass Trump's Entire First Term Δ1.81

Donald Trump's latest tariff deadline arrives tonight, with potential new duties on America's top three trading partners starting tomorrow morning. The promises could match or surpass the economic toll of his entire first term. The Tax Foundation estimates that Trump's 2018-2019 tariffs shrank US GDP by about 0.2%.

Wall St Set for Lower Open as Trade War Worries Weigh Δ1.81

Investors are increasingly cautious ahead of President Donald Trump's planned announcement of his full-fledged global trade policy, which is expected to deepen the already strained US-China trade relationship and further exacerbate existing tensions with Canada and Mexico. The ongoing trade war is putting pressure on corporate earnings, inflation expectations, and overall market sentiment, with analysts warning of potential cuts in interest rates by the Federal Reserve to mitigate the economic impact. As investors prepare for more uncertainty, many sectors are already experiencing significant losses.

US Stocks Face Tricky Moment as Trump's Latest Tariffs Loom Δ1.81

U.S. stocks face a tenuous moment with the arrival of President Donald Trump's latest tariffs, which are expected to exacerbate concerns about growth and potentially cut into corporate profits. The duties on foreign imports are widely seen by analysts as likely to increase inflation, but investors are still trying to weigh the extent to which the president is using tariffs as a bargaining tool or if they will be lasting policies. Tariffs could pose challenges for companies by complicating supply chains or driving costs higher, leading to potential price increases for consumers.

The Trump Administration's Tariff Tactics Undermine Global Trade Confidence Δ1.81

Business executives have been in a state of limbo over Donald Trump's fluctuating plans to impose major tariffs since he took office in January. Tuesday's announcement does not end that uncertainty. U.S. President Trump announced Tuesday he would impose 25% tariffs on the nation's two largest trade partners, Canada and Mexico, a move that economists expect will add to costs for U.S. companies that will bear the cost of those tariffs.

Businesses Told Fed They Will Raise Prices With Onset of Trump's Tariffs Δ1.81

Businesses across various sectors are anticipating price increases due to President Donald Trump's tariffs, even in the face of potential consumer resistance, as indicated in the Federal Reserve's latest Beige Book. The report highlights challenges in passing increased input costs onto consumers, with many companies expressing concerns over the inflationary effects of tariffs amidst slower economic growth. Fed officials will use these insights to inform monetary policy decisions, particularly as they navigate the risks of stagflation.

Trump Tariffs Could Be Good for Some Countries, Including the UK Δ1.81

Donald Trump's tariffs on Canada, Mexico, and China are reversing decades of globalization, creating uncertainty for American consumers and businesses while potentially benefiting countries like the UK. The tariffs have raised import costs, leading to higher prices for everyday goods, while economists warn of a possible hit to US growth and consumer spending. In contrast, nations outside of the tariff scope, such as Vietnam and Malaysia, may seize the opportunity to expand their exports to the US, highlighting the complex dynamics of trade wars.

Tariffs Imposed by Trump Erode Business Confidence Across U.S Δ1.81

Business executives have been in a state of limbo over Donald Trump's fluctuating plans to impose major tariffs since he took office in January. Tuesday's announcement does not end that uncertainty. The prospect of major levies on foreign imports has dominated corporate America's discussions this year, leading companies to try to mitigate costs with pre-ordering and investments being put on hold.

Trump's Trade Tariffs Shake Global Markets Δ1.81

US President Donald Trump's trade tariffs have reshaped the global market landscape, with significant implications for industries and economies worldwide. The ongoing trade tensions have sparked concerns about inflation, economic growth, and the future of international trade agreements. As the situation continues to unfold, key stakeholders are re-evaluating their strategies to navigate this new trade reality.

Tarifs Impposed by Trump Dismissing Concerns over Economic Uncertainty Δ1.81

President Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners and the prospect of higher prices, and isn't ruling out the possibility of a recession this year. The imposition of broader “reciprocal” tariffs will go into effect April 2, raising them to match what other countries assess. Trump's plans could affect U.S. growth, but he claims it would ultimately be "great for us."

Trump's Tariffs May Impact Global Economy Δ1.80

The ongoing trade tensions and tariffs imposed by the Trump administration are having far-reaching implications for global economies and businesses. The imposition of tariffs on key trading partners, such as Canada and Mexico, has raised concerns about the potential impact on inflation and interest rates. Meanwhile, the US manufacturing sector is experiencing a slowdown due to the tariffs, with production stabilized and destaffing continuing.