U.S. Treasury Secretary warns: Tariffs could rise back to April 2 levels

PANews reported on July 3 that according to Jinshi, U.S. Treasury Secretary Bessant warned the United States' trading partners not to extend trade negotiations, saying that if no progress is made, tariffs may rise back to the level of April 2. Bessant revealed that he will meet with EU negotiators today. When asked about the outcome of the discussion, he simply said, "We will see what happens with the EU." On the issue of U.S. debt, Bessant expressed confidence in market demand. He said that "there is a lot of demand for U.S. Treasuries," and demand for U.S. Treasuries at home and abroad remains strong. He described the debt management process as "orderly." Bessant also commented on interest rates, suggesting that "two-year Treasury bonds tell you that overnight interest rates are too high" and that "inflation expectations should fall back." He criticized the Federal Reserve, saying that the committee's judgment "seems a little biased." Regarding the operation of the Federal Reserve, Bessant said that "it is good for the Federal Reserve to control spending" and he hopes to "see the Federal Reserve reasonably adjust the size of the budget." When asked if he wanted Federal Reserve Chairman Powell to resign, Bessant refused to give a specific response. He noted that there are "a lot of strong candidates for Fed chair" and mentioned the possibility of "filling two Fed board seats next year."