Bessent said Trump recognized the "overuse" of U.S. sanctions

American President-elect Donald Trump recognizes that the United States "overuse" tariffs. Such a statement was made on January 16 by Scott Bessent, the nominee for Secretary of the Treasury of the state.

"President Trump believes that we have probably overused sanctions, and this may encourage countries to abandon the use of the U.S. dollar," he shared during a Senate hearing broadcast by CNBC on YouTube.

He said sanctions undermine the dollar's role on the global stage. Bessent noted that if confirmed for the role of Treasury Secretary, he plans to pursue the fulfillment of purchase guarantees that are stipulated in trade agreements with the PRC.

Among other things, he is going to implement the idea of compensations for the last four years. At the same time, Bessent noted the need for flexibility in the application of tariffs.

"We must approach the tariffs with three main objectives in mind: the elimination of unfair trade practices, the provision of income to the federal budget and the use of tariffs as a lever in negotiations," - added the candidate for the post of head of the Ministry of Finance.

Earlier, on January 14, it became known that the dollar index DXY, reflecting its value against a basket of key currencies, reached 109 points, which is the maximum value since the fall of 2022. Head of the analytical department for global markets of IC Fontvielle Arthur Meinhard shared with "Izvestia" that this is a direct consequence of the election rhetoric of the future president of the United States.

At the same time, the expert noted that the U.S. structure needs protection from imports due to the problems of its structure, as it is strongly oriented towards the service sector rather than the production of goods.