Washington (Reuters) – US Treasury Secretary Scott Bessent said on Monday that President Donald Trump’s policies in customs duties, tax reductions and deregulation would be combined to stimulate long -term investments in the American economy.

He also pointed out that Donald Trump’s policies could bring American growth to 3% by next year, which would help bring back US budget deficits to their medium long term GDP.

“We therefore think that, thanks to the deregulation and permanence of the tax law, we can bring the growth closer to something that resembles 3%,” he said in a live interview on CNBC, on the sidelines of the World Conference of the Milken Institute.

Asked about the date on which this objective could be reached, Scott Bessent replied: “By next year”.

During his speech prepared for the Milken Institute Global Conference in Los Angeles, he said that the American financial markets were “antifragile”, and that they would resist any short -term turbulence.

“The main components of the Trump’s economic program – trade, tax reductions and deregulation – are not isolated policies. These are parts nested with an engine designed to stimulate long -term investment in the American economy,” he said in his speech.

Defending loudly Donald Trump’s customs duties, Scott Bessent has also emphasized the republican tax bill under examination at the congress, and said that he would make many tax reductions decided during his first mandate, including a deduction for small businesses.

The American economy contracted for the first time in three years in the first quarter, in a context of imports of imports to counter customs duties, and while the International Monetary Fund provided that American GDP would only increase 1.8% in 2025.

(David Lawder report; Etienne Breban; edited by Sophie Louet)

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