US Treasury Secretary Warns Tariffs May Return to April 2 Levels

According to a report by Jinse Finance, U.S. Treasury Secretary Bessent has warned America's trading partners not to prolong trade negotiations, stating that if no progress is made, tariffs could return to their April 2 levels. Bessent revealed that he will meet with EU negotiators today. When asked about the outcome of the discussions, he simply said, "We’ll see what happens with the EU." On the issue of U.S. debt, Bessent expressed confidence in market demand, saying, "There is strong demand for U.S. Treasuries," and that both domestic and international demand remains robust. He described the debt management process as "orderly." Bessent also commented on interest rates, suggesting that "the two-year Treasury tells you the overnight rate is too high," and that "inflation expectations should come down." He criticized the Federal Reserve, stating that the committee's judgment "seems a bit off." Regarding the Fed's operations, Bessent said, "It would be beneficial for the Fed to control spending," and he hopes "to see the Fed reasonably adjust the size of its budget." When asked whether he wanted Fed Chair Powell to resign, Bessent declined to give a specific answer. He noted that there are "many strong candidates for Fed Chair" and mentioned the possibility of "filling two Fed Board positions next year."