U.S. Treasury Secretary Discusses Tariff Levels and Economic Outlook

U.S. Treasury Secretary Besant has indicated that President Donald Trump's tariff levels might return to their previous state before the Supreme Court nullified several imposition orders by early July. According to Jin10, following the Supreme Court's ruling that Trump's use of emergency powers to impose early tariffs was unconstitutional, Besant is exploring alternative authorizations, such as Section 301 investigations, to rebuild the 'tariff wall.' Besant noted that while it is challenging to predict when the consequences of the Iraq war might impact the U.S. economy, the current economic conditions remain robust. He believes that the U.S. growth rate this year could easily surpass 3% or even 3.5%. Additionally, he mentioned that the continued decline in core inflation, excluding the more volatile energy and food prices, is a positive sign. Besant stated, "I think the Federal Reserve has been wrong about inflation, as core inflation is decreasing. If they want to wait for clearer data before taking action, I understand, but that would mean interest rates should be lowered further."