US Treasury Secretary: There is no reason for a recession, and tariff rates will be allocated to each country individually
US Treasury Secretary Besent said that the foundation of the US economy is healthy and there is no reason for a recession, while rejecting the idea that a recession will not occur. Besent said, "I can't guarantee anything." Regarding the retaliatory tariffs to be announced on April 2, Besent said, "I have not seen the relevant numbers yet, and this process will involve allocating specific tariffs to each trading partner. In some cases, countries may avoid retaliatory tariffs. Other trading partners may seek to negotiate lower tariff levels after receiving quotas."
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