Treasury Secretary Scott Bessert insisted on Monday that Skittish Global Business Leaders ignores the economic NO -tellers of President Trump on Monday and to increase investments in the United States, which will make an economic agenda that warn economic growth and will aggravate inflation.
Speaking with managers, entrepreneurs and policymakers, Mr Bessent argued that the economic plans of the Trump administration go beyond trade policy and are bearing fruit in the long term. With them, he also focused on concentrating on Mr Trump’s plans to lower taxes and regulations that he said would stimulate job creation and output.
“Rates are designed to encourage companies such as yours to invest directly in the United States,” Mr Bessent said in comments at the Milken Institute Global Conference in Los Angeles. “You will be happy that you have done that – not only because we have the most productive workforce in the world. But because we will soon also have the most favorable tax and regulatory environment.”
His comments came only a few hours after Mr. Trump Ordered new rates for foreign film producersA decision that surprised many in Hollywood about how such a tax would work.
The Minister of Finance has worked to facilitate concern among investors that Mr Trump’s trading plans will destabilize the world economy. Last month, the President delivered rates in countries around the world and escalated a trade fight with China, causing the financial markets to fall.
Since then, Mr Bessent has been racing to negotiate trade agreements with dozens of countries. He also indicated that the China rates are not sustainable and hopes that Mr Trump would soon start negotiations to lower them.
“Our goal with trade policy is to level the playing field for our great American employees and companies,” Mr Bessent said.
The Trump government works closely with congress republicans on tax legislation that would extend the tax cuts of 2017 and offer new tax benefits for overtime, tips and social security benefits. Mr Bessent made the case on Monday that investors should consider the wider agenda when they think about where to park their money.
Describing Mr. Trump’s policy as “mutually reinforcing,” said Mr Bessent, “acting in concert, they push to the same goal – to strengthen our position as the home of global capital.”
Investors have become increasingly wary in recent months for Mr Trump’s policy, with shares, bonds and the dollar that all show signs of weakness while fund managers are concerned about the uncertainty surrounding Mr Trump’s policy approach.
The International Monetary Fund expected last month that the global output would slow down to 2.8 percent of 3.3 percent in 2024 this year and greatly reduced its prospects for the American economy.
On Monday, Mr Bessent said that Mr. Trump would prove “critics in business circles” incorrectly.
“We have the world’s reserve currency, the deepest and most liquid markets and the strongest property rights,” said Mr Bessent. “For these reasons, the United States is the most important destination for international capital.”