{"id":399513,"date":"2026-04-15T09:57:22","date_gmt":"2026-04-15T09:57:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/399513\/"},"modified":"2026-04-15T09:57:22","modified_gmt":"2026-04-15T09:57:22","slug":"us-treasury-chief-bessent-says-us-growth-may-exceed-3-or-3-5-this-year-despite-iran-war","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/399513\/","title":{"rendered":"US Treasury chief Bessent says US growth may exceed 3% or 3.5% this year despite Iran war"},"content":{"rendered":"<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\"><a href=\"https:\/\/www.straitstimes.com\/live-us-trump-israel-iran-attack?ref=inline-article\" rel=\"noopener nofollow\" class=\"gap-x-04 items-center inline text-primary-60 select-auto\" aria-label=\"link\" target=\"_blank\" data-testid=\"custom-link\">Follow our live coverage here.<\/a> <\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">WASHINGTON &#8211; US Treasury Secretary Scott Bessent said on April 14 that the underlying US economy remained strong and that growth could still exceed 3 per cent or 3.5 per cent this year despite the impact of the US-Israeli war on Iran. <\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">He has cast <a href=\"https:\/\/www.straitstimes.com\/business\/economy\/imf-to-cut-global-growth-forecast-due-to-middle-east-war?ref=inline-article\" rel=\"noopener nofollow\" class=\"gap-x-04 items-center inline text-primary-60 select-auto\" aria-label=\"link\" target=\"_blank\" data-testid=\"custom-link\">cuts in global growth forecasts<\/a> and higher inflation projections by the International Monetary \u200cFund and World Bank as an over-reaction. <\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">The IMF on April 14 cut its growth outlook due to Iran war-driven energy \u200bprice spikes.<\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">\u201cI think the underlying economy remains strong,\u201d Mr Bessent said during the WSJ Opinion Live event in Washington. \u201cI do think that the growth could easily exceed 3 per cent, 3.5 per cent this year, still.\u201d<\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">The war has raised oil prices and shaken markets globally. It has led to the blockade of the Strait of Hormuz. <\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">Roughly 20 per cent of global oil and natural gas exports were shipped through the strait before the war.<\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">Mr Bessent also commented on US tariffs on other nations, saying they could be back in place to previous levels by July after the Supreme Court \u200bruled in February that President Donald Trump overstepped his authority in imposing sweeping global duties under an emergency law.<\/p>\n<p class=\"font-body-baseline-regular text-primary\" data-testid=\"article-paragraph-annotation-test-id\">\u201cThe tariff could be back in place at the previous level by beginning of July,\u201d he said, referring to options being pursued by the Trump administration such as probes under Section 301 of the Trade Act of 1974. REUTERS <\/p>\n","protected":false},"excerpt":{"rendered":"Follow our live coverage here. WASHINGTON &#8211; US Treasury Secretary Scott Bessent said on April 14 that the&hellip;\n","protected":false},"author":2,"featured_media":399514,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":{"0":"post-399513","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/399513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=399513"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/399513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/399514"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=399513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=399513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=399513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}