U.S. Treasury Secretary Scott Bessent, speaking at the summit in Zurich, stated that China must decide whether it wants to be a credible partner on the international stage, and emphasized the need to transform its economy into a consumption-based model.
He also pointed to opportunities for deepening U.S.-Swiss cooperation in artificial intelligence and financial services. He highlighted the goals of the Trump administration, such as the development of precision manufacturing and maintaining the U.S. as an attractive place for investment through tax cuts and deregulation. Bessent also noted ongoing efforts to simplify global financial rules and capital requirements in collaboration with Swiss partners.
U.S. indices are recovering after a shaky cash session open. Currently, the biggest gains are seen in the small-cap index US2000, up +1.40%, followed by US100 gaining 0.53%, and US500 rising 0.40%. At the same time, we observe a strong rebound in the U.S. dollar, whose strength is causing a 0.60% drop in the EURUSD pair.
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