Stocks Spike As Bessent Says Trade Deals Coming As Soon As This Week, Teases 'Substantial Reduction’ In Tariffs
US Treasury Secretary Scott Bessent on Tuesday said during testimony before the House Appropriations Committee that trade deals may come 'as soon a this week,’ and that while 'many partners have good offers,’ there have been no discussions with China yet.
According to Bessent, there could be a 'substantial reduction’ in tariffs on US goods, as the United States negotiates with 17 out of 18 key trade partners.
Bessent also said that the US will 'never default’ on its debt, and the Treasury will not use 'gimmicks’ on the debt ceiling.
The US will never default on debt, according to US Treasury Secretary Scott Bessent. pic.twitter.com/AWuiupzo0T
— Yahoo Finance (@YahooFinance) May 6, 2025
Stocks spiked on the news:
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Tyler Durden
Tue, 05/06/2025 – 10:33
