Treasury’s Bessent Defends Tariffs Amidst Market Downturn and Tech Woes

Key TakeawaysU.S. Treasury Secretary Bessent articulated an evolving stance on tariffs, asserting they are not a tax and have not triggered an "inflationary mindset," while acknowledging former President Trump's role in normalizing 15-20% tariffs.U.S. stock index futures, including the S&P 500, NASDAQ, and Dow, extended losses, with declines of 0.3%, 0.6%, and 0.2% respectively, following reports that Microsoft (MSFT) has lowered its AI software sales quotas.The Polish Central Bank implemented an anticipate ...