US has submitted plans to change world trade and banking activities
US Secretary of Finance Scott Buzant expressed on Thursday's ambitions of Donald Trump's administration to change international trade relations through duties, cancel US banks's financial regulations and use sanctions against Iran to collapse its economy, Reuters reported.
The president has launched an « aggressive campaign to rebalance the international economic system, » Beshent told the New York Economic Club.
Mita's supporter Scott Buzant was established as US Finance Minister
« The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility and economic security. Too long, designers of multilateral trade agreements have lost this from sight. »
| With regard to Iran, he said that the new administration would campaign to maximum pressure from sanctions to suffocate oil exports and squeeze his currency. « Again, the ruin of Iran will mark the beginning of our updated sanctions policy, » Badent said. |
Trump's international trade policy on Thursday continued to develop after he gave Mexico a one-month postponement of duties of 25%earlier this week on all goods that fall into the United States, Mexico and Canada Trade Agreement. The prospects for Canada, whose goods, in addition to those in the energy sector, are also subject to 25% duties since Tuesday, were less clear, although the Minister of Commerce Howard Nliknik said earlier that it was probably a similar exception.
Boyant said duties would bring benefits to a number of fronts.
« First, this is a good source of revenue. Second, it protects our important industries and their employees. And third, (Trump) added a third leg to the stool and used it for negotiations, » Belisant said.
« Significant » duties will help to pay tax relief for America with the lowest income of 50%, such as the lack of taxes on tip, « the minister said. His words aim to repel criticism of duties as a type of regressive tax that punishes lower-income households.
Busant also signals wide pressure to deregulate the banking sector. He said he plans to use the Council for the Supervision of Financial Stability to stimulate changes in the financial regulations, which he considers unjustifiably burdened for banks, and to correct « violated culture for supervision » by coordinating through the Ministry of Finance and not through consolidating agencies.
One of the focus of bank supervisors should be an analysis of additional leverage restrictions, he said.
