The Treasury Secretary Scott Besent on Monday requested the President of Skysh Global Traders to ignore Trump’s economic heroes and invest in investment in the United States, economists warned that economic growth would reduce economic growth and increase inflation.
Talking to executives, entrepreneurs and policy makers, Mr Besent argued that the economic plans of the Trump administration would exceed trade policies and pay in the long run. He also called for focusing on Mr. Trump’s plans to reduce taxes and controls, which he said would encourage the creation and output of the job.
In the comment of the Milken Institute Global Conference in Los Angeles, Mr Besent said, “Customs engineers are made to encourage companies like you to invest directly in the United States.” “You will be happy you have done – not only we have the most productive power in the world but because we will soon have the most favorable tax and regulatory environment.”
Mr. Trump came a few hours after hearing a new tariff on foreign filmmakers, a decision that many people in Hollywood were surprised to find out how this national tax would work.
The Treasury Secretary is working to ease anxiety among investors that Mr. Trump’s trade plan will destabilize the global economy. Last month, the President imposed tariffs on countries around the world and extended a trade struggle with China, which was submerged in the financial market.
Since then, Mr Besent has been running to discuss the trade agreement with dozens of countries. He also indicates that China is not sustainable, hope that Mr. Trump will soon start discussion to reduce them.
“Our goal with trade principles is to equalize the playground for our great American workers and companies,” Mr. Besent said.
Business leaders are moving forward on the negligence of the Trump administration on setting trade policies.
Mr. Trump posted the truth on Sunday night that he was instructing his official agencies to “To begin the process of establishing 100% duty on any of our countries produced in a foreign country and all movies.” However, a White House spokesman on Monday said that “no final decision on foreign film tariffs was made” and the administration is still considering its alternatives.
Despite the call of Mr Besent’s investors to take a long -term view in the US economy, officials at the Milkan Institute rally made it clear that the tariffs were truly damaged.
“What we hear from the clients are they are ready for Headwinds,” City Group CEO Jan Fraser said, who mentioned that some business expenses were going forward, some were delaying investment and they were more alert when the Trump administration waited to see how his tariff was planned.
Carlyle Group Chief Executive Harvey Shwarz says a trade war between the United States and China was problematic for the global economy and the tariffs were prevalent when taking charge in January.
“I think we came in the year and there was this extraordinary high expectation and speed and everything was a kind of pro-growth,” said a panel following the comments of Mr. Shwarz Besent. “And I think with the tariff policy, people were a bit confused and uncertain, because it seemed dramatically this national change in the policy.”
He added: “This is a policy initiative we have never seen.”
Mr Besent has tried to transfer the policy discussion to tax cuts, which he predicts that the Congress may go early in July.
The Trump administration is working closely on tax laws with Congressional Republicans that will increase the 2017 tax cuts and give new tax breaks for additional time pay, tips and social security facilities. Mr Besent said that this bill will include tax credit and discount for research and innovation to encourage investment in high -tech operations and tax incentives for equipment and building factories.
Mr. Besent made the case on Monday that investors should be considered to park their money when investors should consider a more extensive agenda.
Describing Mr Trump’s principles as “mutually powerful” Mr Besent said, “By acting in the concert, they move towards the same goal – to make our position as the capital of the world worldwide.”
Investors have become increasingly alert about Mr. Trump’s policies in recent months, showing signs of all the weaknesses including stock, bonds and dollars as fund directors are concerned about the uncertainty around Mr. Trump’s policy -making system.
In the last month, the International Monetary Fund assumed that the global output would stand at 8.5 percent this year in 2021 and reduced its attitude for the US economy.
“Obviously we are feeling significant unrest in world trade,” IMF managing director Crystalina Georgiva said at the Milken Conference on Monday. “We are now going from an estimated trade system that is going to be a new balance before the end of us.
He also added: “The world is paying for this shift, from a balance to something new, it’s not trivial.”
Despite this concern, Mr Besent said on Monday that Mr. Trump “would prove the critics of the circles of the organization”.
“We have the reserve currency of the world, the deepest and the most liquid market and the most powerful property rights,” said Mr. Besent. “Because of this, the United States is the main destination of international capital.”
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