The US Treasury Secretary has warned that tariffs could rise back to their April 2 levels

U.S. Treasury Secretary Vincent Bescent warned America's trading partners not to extend trade talks, saying tariffs could return to April 2 levels if no progress is made. Bescent revealed that he will meet with European Union negotiators today. When asked about the outcome of the discussions, he simply said, "We will see what happens with the European Union." On the U.S. debt issue, Bescent expressed confidence in market demand. He said "there is a lot of demand for U.S. Treasuries," and demand for U.S. Treasuries at home and abroad remains strong. He described the debt management process as "methodical". Mr. Bescent also commented on interest rates, suggesting that "two-year Treasury bonds tell you that overnight rates are too high" and that "inflation expectations should come down". He criticised the Fed, saying the committee's judgment "seems a bit off". On the Fed's operations, Mr. Bescent said it was "beneficial for the Fed to rein in spending" and that he wanted to "see the Fed adjust the size of its budget reasonably". Asked if he wanted Fed Chair Jerome Powell to resign, Mr. Bescent declined to give a specific response. He noted that there are "a lot of strong candidates for Fed chair" and mentioned the possibility of "filling two Fed board positions next year". (Golden Ten Data APP)