In an oversight hearing under the U.S. Department of the Treasury, Treasury Secretary Scott Bessent noted that a trade deal between the U.S. and another country come come as soon as this week, although he did not provide specifics.
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Treasury Secretary Scott Bessent Teases Trade Deals
Bessent also added that the U.S. is currently in tariff negotiation talks with 17 trading partners, which does not include China. When asked if he believes the U.S. is in a recession, Bessent responded that economic data does not back up this claim and that he expects first quarter gross domestic product (GDP), which fell by 0.3% year-over-year, to be revised upward.
