💨 Abstract

Scott Bessent, US Treasury Secretary-designate, emphasized the need for balancing free trade with fair trade during Senate confirmation hearings. He called China an "unbalanced economy" in a severe recession and stated that unfair trade practices have impacted American workers. Bessent also discussed increasing domestic production and using sanctions to target "bad actors" like Iran, aiming to decrease Iranian oil exports and boost US energy production.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖