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Treasury Secretary Scott Bessent has said many times recently that 'strategic ambiguity' is a tactic of the Trump administration. We won't hold our breath, but the tactic may be beginning to work as Bessent now is teasing tariff deals in the near future, a growing economy, and a promise of 'no strategic defeault' on the U.S. sovereign debt.
US Treasury Secretary Scott Bessent on Tuesday said during testimony before the House Appropriations Committee that trade deals may come 'as soon a this week,' and that while 'many partners have good offers,' there have been no discussions with China yet.
According to Bessent, there could be a 'substantial reduction' in tariffs on US goods, as the United States negotiates with 17 out of 18 key trade partners, reported ZH.
He then suggested that the 1st quarter GDP will be revised upward, and that we aren't in a recession.
"I believe in data. There is nothing in the data that shows we are in a recession. As a matter of fact, the jobs report has surprised to the upside."
Bessent also said that the US will 'never default' on its debt, and the Treasury will not use 'gimmicks' on the debt ceiling.
