The US economy is still strong, and growth could exceed three to 3.5 percent this year despite the impact of the US-Israeli war against Iran, US Treasury Secretary Scott Bessent said yesterday at the WSJ Opinion Live conference in Washington.
Bessent assessed that the International Monetary Fund and the World Bank overcorrected global growth forecasts and increased inflation estimates.
The International Monetary Fund earlier on Tuesday cut growth expectations due to a rise in energy prices caused by the war in Iran.
The war raised oil prices and shook markets around the world and led to the blockade of the Strait of Hormuz, through which about 20 percent of the world’s oil and natural gas exports passed before the conflict.
Bessent also commented on U.S. tariffs, saying they could return to earlier rates by July after the Supreme Court ruled in February that President Donald Trump had overstepped his authority by imposing blanket global tariffs under the emergency powers law.
He added that the administration is considering various options, including launching investigations under Section 301 of the Trade Act of 1974.
(Vijesti.ba)
