Azernews.Az

Nazrin Abdul

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On Monday, President Donald Trump praised the tariffs imposed on other nations as a catalyst for strengthening the United States economically. Trump asserted that these tariffs, introduced on August 7, are contributing “billions” in additional revenue to the federal budget, emphasizing their role in making the country “Strong and Rich,” Azernews reports, citing local media.

At the same time, U.S. Treasury Secretary Scott Bessent suggested that these tariffs may gradually be reduced or “melt away” as the administration finalizes trade agreements and works to reduce the nation’s trade deficit. Negotiations are actively underway with key partners such as the European Union, China, and Japan, following the signing of initial trade accords with these countries.

The developments highlight the administration’s dual approach of leveraging tariffs to bolster domestic revenue while pursuing new trade deals to balance international economic relations.