US Treasury Secretary Bessent: I aim to reduce spending and ease monetary policy at the same time

Tariffs are the essential component in strategy, and can increase US industrial capacity.

Tariffs are an important source of revenue, and and can help manage imbalances in other economies.

I am paying particular attention to the 10-year treasury yield, I believe Trump's policies should reduce it.

Term premiums should contract as the market gains confidence in the long-term fiscal profile of the US government.

The government debt plan well is positioned for several quarters.

China is likely to continue to add to its economic imbalances.

China really needs more consumption.

We will examine China's non-tariff barriers and currency policies in reciprocal tariffs analysis.

Trump wants to diversify the sourcing and processing of critical minerals, Australia can play a role.

Government jobs don't generate real long-term wage growth.

I aim to reduce spending and ease monetary policy at the same time.

Bank regulations have pushed borrowing to an unregulated financial system but does not see a stability problem.

I advocate for a 3% fiscal deficit-to-GDP ratio.

I will come up with a list of industries that need to have secure supply chains including chips and medicines.