The head of the US Treasury explained the importance of duties for the American economy

The United States seeks to maintain a long-term flow of money by levying import duties, but also advocates deals with trading partners. This was announced on April 29 by Treasury Secretary Scott Bessent at a briefing to reporters at the White House.

"I think it's a combination of two (goals - ed.). We intend to receive long—term revenue from duties," said Bessent.

According to the minister, the United States currently has 18 important trading partners. It is reported that the American leadership will soon hold talks with at least seventeen of them to discuss agreements.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

On April 27, US President Donald Trump announced that the income tax for US citizens could be reduced or completely abolished after the start of US duties.

At the same time, Trump said that the United States could conclude trade agreements with all countries, including China and the European Union (EU), but only on fair terms for Washington.