U.S. Treasury Secretary Basant: Trade issues are expected to be resolved by the end of October.

[U.S. Treasury Secretary Becerra: Trade issues expected to be resolved by the end of October] U.S. Treasury Secretary Becerra stated in an interview with Nikkei News that President Trump’s tariff policy aims to bring manufacturing back to the U.S. In evaluating the effects of economic policies since Trump took office, Becerra noted, "Trump's economic policy is like a 'three-legged stool'—taxes, trade, and deregulation. On taxes, we have completed the 'Great and Beautiful Act' at a record pace, which took effect on July 4. On trade, I believe we will be able to complete the relevant work by the end of October. As for deregulation, this is an ongoing process, and it has been clearly stated: for every new regulation introduced, ten old regulations must be abolished." Becerra stated that the main reason for the shift in trade policy to a tariff policy is to rebalance. "Over time, tariffs should resemble a melting ice cube. If production returns to the U.S., our imports will decrease," he said. (Zhitong Finance)