Reminder, on Thursday, White House economic advisor Kevin Hassett said “I’m sure there will be news by the end of the day” on a tariff deal. We’re still waiting.
Bessent:
- Trading deals maybe as early as this week
- I’m highly confident that 17 trading partners excluding China have presented with very good trade proposals
- We could see more frictionless trade from these negotiations
- Could see substantial progress with China in the coming weeks
- The market is not pricing in inflation, hard data is still resilient
In a perfect world, this would all result in very low tariffs between the US and the world but you have to have a great deal of faith to make that call at this point.
This article was written by Adam Button at www.forexlive.com.