The secretary of the Treasury, Scott Besent, urged the global business leaders of the time to ignore the economic detractors of President Trump and increase investment in the United States, defending an economic agenda that warns will slow down economic growth and exacerb inflation.
In statements to executives, businessmen and policy formulators, Besent argued that the economic plans of the Trump administration go beyond commercial policy and will be worth the long one. They were also urge to focus on Trump’s plans to reduce taxes and regulation, which said he would stimulate employment creation and production.
“Tariffs are designed to encourage companies such as yours to invest directly in the United States,” Besent said in comments at the Milken Institute’s global conference in Los Angeles. “You will be slippery that you did, not only because we have the most productive workforce in the world. But because we will also have the most favorable fiscal and regulatory environment.”
His comments occurred only a few hours after Trump ordered new tariffs on foreign film producers, a decision that left many in Hollywood bewildered on how such tax would work.
The Treasury Secretary has been working to relieve concerns among investors that Trump’s commercial plans will destabilize the global economy. Last month, the president raised tariffs to countries around the world and increased a commercial fight with China, which sent loot of financial markets.
Since then, Mr. Bearts has been running to negotiate trade agreements with country boxes. He also pointed out that China’s tariffs are not sustainable, offering the hope that Trump will soon begin negotiations to reduce them.
“Our goal with commercial policy is to level the playing field for our great American workers and companies,” said Berrot.
Continuous business leaders to be about the Trump administration’s casual approach to establish commercial policy.
Mr. Trump on Sunday night published in Truth Social that he was leading to his government agencies “that immediately began the institute process a 100% rate above each and every one of the films that enter our country that are produced in foreign lands.” However, on Monday, a White House spokesman said that “there are no final decisions about foreign film tariffs” and that the administration was still considering its options.
Although Mr. Bessert demands that investors have a long -term vision of the United States economy, the Milken Institute meeting made the tariffs were affecting real.
“What we hear from the customers is that they are preparing winds against it,” said Jan Fraser, executive director of Citigroup, who said that some companies were dragging forward, some delayed the investment and everyone was being more cautious while waiting to see how the Trump administration continued with their tariff plans.
Harvey Schwartz, executive director of the Carlyle Group, said that a commercial war between the United States and China was problematic for the world economy and that tariffs have exhausted part of the excitement about the economic agenda of Mr. Trump that prevailed when he left in January.
“I think we came in the year and there was an extraordinarily high expectation and impulse and everything that was a bit of growth,” Schwartz said in a discussion panel after Mr. Beart’s comments. “And I think that with tariff policy, people were a bit confused and uncertain, because he felt dramatically in politics.”
He added: “This is a political initiative that we have never seen.”
Mr. Besent has tried to change policy discussion to tax cuts, which has been predicted that Congress could be approved in early July.
The Trump administration is working closely with the Republicans of the Congress in fiscal legislation that would extend the 2017 tax cuts and offer new tax exemptions for excess time salaries, social security advice and benefits. Mr. Besent said the bill would include tax credits and deductions for research and innovation to stimulate investment in high -tech operations and tax incentives to buy equipment and build factories.
Mr. Besent presented the case on Monday that investors should consider the broader agenda when thinking about where to park their money.
When describing Mr. Trump’s policies as “mutual reinforcement,” said Besent, “acting in concert, push towards the same goal: to solidify our position as the home of the global capital.”
Investors have become increasingly cautious with Mr. Trump’s policies in recent months, with shares, bonds and the dollar, everything that shows signs of weakness as fund managers care about the uncertainty surrounding Mr. The Trump policy formulation approach.
The International Monetary Fund projected last month that global production would decrease to 2.8 percent this year of 3.3 percent in 2024 and sharply degraded its perspective for the US economy.
“We are clearly experiencing a significant turbulence in global trade,” Kristalina Georgieva, IMF managing director, at Milken’s conference, said on Monday. “Now we are going from a predictable commercial regime that we had before what this other will be a new balance.
She added: “What the world is paying for that change, from a balance to something new, is not trivial.”
Despite those concerns, Mr. Besent said on Monday that Trump would prove to be incorrect “critical in establishment circles.”
“We have the world reserve currency, the deepest and more liquid markets, and the stronger property rights,” said Berrot. “For these reasons, the United States is the main destination for international capital.”
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