Scott’s scratch secretary discusses American economy, tariffs and inflation at the New York Economic Club. (Ecny)
Minister of Finance Scott Bessent On Thursday, they retreated to the concerns set out in connection with the tariffs that cause inflationary pressure that increases the consumer prices, saying that they would only lead to a disposable “price adjustment”.
Bessent presented objections at the New York Economic Club and participated in the questions and answers with Fox Business Network Larry Kudlow in which they asked him if they were inflated tariffs.
“Look, can the tariffs be a one -off price adjustment? Yes … I hope that the failed team transition could come back and think that nothing is more transparent than a tariff if it is a one -off price adjustment,” Bensent said in connection with the Biden administration official, saying that the historical inflation of several years was “transitory”. “
“And for those who say,” Oh, the tariffs are tax, they are inflationary, “so you say that taxes are inflationary, which I don’t like to cause many of my democratic friends,” he added.
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Scott Bessent Treasury Secretary said he was not worried about inflation in the American economy. (Victor J. Blue / Bloomberg via Getty Images / Getty Images)
Besent also said that Trump administration Economic policy takes into account the entire government and noted that the mortgage rates have been reduced with the raw oil prices from the victory of the President and his subsequent inauguration, so that he does not worry about inflation as a whole.
“The economic program is a whole government, a holistic program and I think we could get a disposable price adjustment,” said the Besen, adding that “I do not worry about inflation in continuum.”
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President Donald Trump has signed executive commands that will collect tariffs to trade partners, including Canada, Mexico and China, as well as a reciprocal tariff policy that will take effect next month. (Jabin Botsford / Washington Post via Getty Images / Getty Images)
Bessent discussed how Trump’s tariffs They are intended to divert the international economic system “to improve the interest of the American people” to prevent “subsidizing the world’s substrate in defense” and serving as a “consumer of the first and last resorts … Absorbing excess supply in the event of insufficient demand in domestic models of other countries.”
“Access to cheap goods is not the essence of American dream,” Bessent said. “The American Dream is rooted in the concept that every citizen can achieve prosperity, upward mobility and economic security.”
He continued that Tariffs would create an opportunity to reconsider multilateral trade agreements and aspects of international economic relations “that do not work for American people. “
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“This is what the tariffs are designed to resolve the playground so that the international trade system begins to reward the ingenuity, security, the rule of law and the stability, not the suppression of salaries, the manipulation of currency, theft of intellectual property, non-Tariff barriers and draconian regulations,” said Beesent.
