Bessent Optimistic About Trade Talks, Tax Cuts

Treasury Secretary Scott Bessent, in an interview with CNBC, expressed optimism that “substantial progress” in U.S./China trade negotiations could be achieved in the coming weeks.

“I think it's Steins Law “that which is not sustainable doesn't continue”. So, 145%, 125% tariff levels are the equivalent of an embargo," Bessent noted.  "And we're reading every day what's happening with factories in China.  And from an academic point of view, I can tell you that the history of trade battles; we are the deficit country, the surplus country always has the most to lose.”

Despite those words, Bessent did not indicate the current status of those trade talks with China, or any other country.  He stressed that trade negotiations will not be conducted through the media.

Stateside, Bessent said the Administration continues to push to make permanent tax cuts that have benefited the farming community for nearly a decade.

“Permanence is the a stimulant, so once. So, the uncertainty goes away and we are going to make the 2017 Tax Cuts and Job Act permanent. So there will be the stimulus from the permanence.”

Click Here to watch that entire CNBC interview.

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