US Treasury Secretary Scott Besent said today, Sunday, that he expects a number of regional agreements as a result of current commercial talks amid the period of customs duties for a period of 90 days.
He added that the timing of any final rates of customs duties will depend on whether the countries are negotiating in good faith.
He mentioned the “State of Union” program, which is broadcast by the CNN network, that the administration of President Donald Trump focuses on the most important 18th trade relations of the United States.
“I expect that we will conclude many regional agreements.”
In a related context, he met J. De Vans – US Vice President – with European Commission President Ursula von der Line and Italian Prime Minister Georgeta Meloni, today, said he hoped that their meeting will contribute to pushing trade talks between the European Union and the United States forward.
“Europe is an important ally of the United States … but of course we have some differences, as happens between friends sometimes, on issues such as trade,” Vans added, during his sitting next to von der Line and Meloni in Rome, after they all attended a mass of inauguration of Pope Liu Papa, Vatican.
“I think we will have a great conversation, and I hope it will be the beginning of some trade negotiations and some long -term commercial advantages between Europe and the United States.”
https://www.youtube.com/watch?v=9u8wciiono4
Away from the recession
Barclays Bank said in a note that the US economy no longer expected to fall into a state of recession later in the year, and he adjusted its expectations to grow up, thanks to the indicators of the intensity of trade tension between the United States and China.
Barclays expected, in a memorandum issued yesterday, Thursday, the US economy growth 0.5% this year and 1.6% next year, compared to the previous expectations, which indicated a negative 0.3% and 1.5%, respectively.
The decline of fog and the improvement of the economic scene led to Barclays raising its forecast for growth in the euro area, and the bank is now expecting a steady economic growth this year, compared to its expectation of 0.2% in the past.
And the United States and China announced, last Monday, an agreement to reduce counter -tariffs, as part of their endeavor to end a trade war that confused the global economy, and raised the concern of financial markets.
US Treasury Secretary Scott Bessent told reporters after his talks with Chinese officials in Geneva that the two sides had reached an agreement to suspend 90 days, adding that customs duties will decrease by more than 100% to 10%.
