The Treasury Secretary Scott Besent denies that the tariff break is due to the decline in the market
The Treasury Secretary Scott Besent denied that the President’s move to implement a break on his rates was the result of the decrease in financial markets, which aroused great concern for investors.
The comments arrived later The president issued a break Wednesday for 75 different countries, which, according to the Trump administration, showed the desire to negotiate commercial agreements in good faith with the United States. At the same time, the Trump administration has increased its rates rates on Chinese assets at 125%, which arrived after China imposed its rates in response to the increase in Donald Trump’s “Liberation Day” rates last week.
“This was led by the president’s strategy. He and I made a long speech on Saturday and this was his strategy that has always been,” Besent replied when he was asked if the tariff break was the result of the decrease in the market. The secretary of the treasure has also mentioned a “imbalance” in the responses of various countries, in particular China, as regards their desire to negotiate new commercial agreements.
Trump urges Americans to “hang hard” on the rates level while the markets fall
The Treasury Secretary Scott Besent denied that the tariff break of President Trump was a reaction to the decline in the current financial market, telling journalists on Wednesday that the break was always part of the Trump’s strategy. (Getty Images/Fox News)
“It’s just an elaboration problem,” said Bessent when he was asked if the whip of the market was a catalyst for the break. “Each of these solutions will be tailor -made. It will take time and President Trump wants to be involved personally, so that’s why we are hitting the 90 -day break.”
In the meantime, Bessent has questioned the statements of journalists according to which the bond market was “craters” and said that the information in front of him did not indicate much. Trump, who on Wednesday also lined up questions about market volatility following its rates, described the current bond market like “beautiful” in the same way.
“I saw last night when people were becoming a little nausea,” Trump told journalists on Wednesday of his opinion on the market decreases in relation to its rates. “(Markets) has gone from, you know, rather moderate today, but in the last few days it seemed rather glum, a, I guess, they say it was the greatest day in financial history. It is a rather large change.”
“I think the word would be flexible,” added Trump. “You have to be flexible.”
A television broadcasts news on the market on the floor of the New York Stock Exchange (NYSE) in New York, in the United States, Friday 4 April 2025. The S&P 500 collapsed 5.97% Friday, closing its worst week since Covid, while investors continued to move away from the US actions after China the commercial war against the retailence against the president Donald Trump. (Michael Nagle/Bloomberg via Getty Images)
The actions went back on Tuesday before sliding again before the markets ended that evening. However, on Wednesday, while Trump made his announcement on the rate breaks, the actions gathered again, with the S&P 500 that saw his best day since 2008, second Market watch.
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During the weekend, the president told the Americans worried about the volatility of the market in progress of “Hanging hard”, adding that his plan is already working with trillion dollars already paid in the United States economy.
“Hang Tough, will not be easy, but the final result will be historic,” Trump wrote on Saturday in a post on his social media Truth Social Media platform. “We will do it, make America again !!!”
THE White house He refused to comment on this story.
Michael Dorgan of Fox News has contributed to this relationship.
