The U.S. Secretary of the Treasury made several key statements regarding ongoing negotiations and economic plans:
🟠Talks with the G7 regarding Russia will be tough.
🟠We aim to discuss oil supplies from Russia and Iran with China.
🟠We plan to engage European partners on tariffs concerning Russian oil.
🟠A series of trade agreements will be announced in the coming days.
🟠Many of these agreements are expected to result in substantial investments in the U.S. economy.
🟠The deadline of August 1st is quite strict for all countries involved.
🟠Tariffs help bring production back to the U.S.
🟠We hope China will begin reducing excess production by August 12th.
🟠Donald Trump has demanded that U.S. factory construction permits be issued within one month.
🟠Negotiations with China have reached a new level.
🟠If we can scale up production, China will buy more, leading to a significant victory.
🟠Tariff revenues could bring up to $300bn annually to the U.S.
🟠These revenues represent a substantial amount, potentially around 1% of GDP.
🟠Over the next decade, tariffs could contribute up to $2.8tr to the budget.
🟠I call for an internal investigation at the Federal Reserve.
🟠I see no reason to believe that Jerome Powell should resign at this time.