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Trump's Tax Cuts Extension Possible Amid Trade Tensions

4/23/2025

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Summary

Story summary

Treasury Secretary Scott Bessent announced that President Trump’s 2017 tax cuts may see an extension by July 4, signaling a potential shift towards deregulation. His comments come as global policymakers gather to address escalating trade tensions, with the IMF lowering growth forecasts for both the U.S. and the world due to the impact of tariffs.

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Story summary

Treasury Secretary Scott Bessent announced that President Trump’s 2017 tax cuts may see an extension by July 4, signaling a potential shift towards deregulation. His comments come as global policymakers gather to address escalating trade tensions, with the IMF lowering growth forecasts for both the U.S. and the world due to the impact of tariffs.