The US Treasury Secretary ruled out the possibility of default in the country

There will be no default in the United States, and the limit on government borrowing will be increased. This was announced on May 6 by the country's Finance Minister Scott Bessent at a hearing in the budget subcommittee of the House of Representatives. His words are quoted by Yahoo Finance.

"The U.S. government will never allow a default. We will raise the debt ceiling. The ministry will not perform any tricks, we will ensure an increase in the national debt ceiling," said Bessent.

The minister added that his department is on an "alarming path" to exhausting its ability to stay within the federal debt limit.

It is reported that the US national debt has exceeded the $36 trillion mark.

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.

Earlier, on April 29, Bessent said that the United States seeks to maintain a long-term flow of money by levying import duties, but also advocates deals with trading partners. According to the minister, the United States currently has 18 important trading partners.