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U.S. Treasury Expects Substantial Rise in Tariff Revenues, Prioritizes Debt Reduction
U.S. Treasury Expects Substantial Rise in Tariff Revenues, Prioritizes Debt Reduction
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BTCCSquare news:
Treasury Secretary Scott Bessent anticipates a significant increase in revenues from President Trump's tariffs, revising earlier estimates upward from $300 billion. The funds will first address federal debt reduction rather than consumer rebates.
Bessent emphasized a shared focus with the WHITE House on deficit reduction, suggesting potential economic parallels to the 1990s' low-inflation growth. Housing sector challenges were attributed to interest rate pressures, with implied support for Fed rate cuts to stimulate construction activity.
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