Bessent Defends Trump’s Use of Tariffs, Says They Are Not Fueling Inflation
NeutralFinancial Markets
- Treasury Secretary Scott Bessent defended former President Trump's use of tariffs during a discussion at The New York Times DealBook Summit, asserting that these import levies are not contributing to inflation. Bessent emphasized the administration's stance on tariffs amid ongoing economic debates.
- This defense is significant as it reflects Bessent's commitment to supporting Trump's economic policies, particularly in light of rising consumer prices and the administration's efforts to manage public perception regarding tariffs and their effects.
- The conversation around tariffs continues to be contentious, with contrasting views on their impact on trade and inflation. Recent data indicated a decline in imports due to these tariffs, raising questions about their effectiveness and the broader implications for the U.S. economy, including consumer confidence and trade relations.
— via World Pulse Now AI Editorial System
