5 months ago
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Treasury Secretary Scott Bessent claimed Sunday that “more than 50 countries” person approached the Trump medication to bring down “non-tariff commercialized barriers,” trim tariffs, and halt “currency manipulation” connected their side.
“More than 50 countries person approached … the medication astir lowering their non-tariff commercialized barriers, lowering their tariffs, stopping currency manipulation,” Bessent said connected NBC’s “Meet the Press” to moderator Kristen Welker.
“And … they've been atrocious actors for a agelong time. And it's not the benignant of happening you tin negociate away, beryllium it successful days oregon weeks,” helium added.
On Thursday, markets dropped dramatically aft President Trump announced a 10 percent tariff connected goods imported into the United States, alongside different tariffs aimed astatine aggregate U.S. trading partners. The system did not fare amended the pursuing day, with the Dow Jones Industrial Average losing 2,200 points and the S&P 500 dropping by 10 percent implicit the people of Thursday and Friday.
In his “Meet the Press” quality Sunday, Bessent referred to Trump’s tariffs arsenic a “one-time terms adjustment,” stressing a distinction from continuous terms increases owed to inflation.
“Have you expressed immoderate concerns to President Trump straight that his tariff argumentation could beryllium inflationary?” Welker asked Bessent connected Sunday.
“No, what I person said are tariffs are a one-time terms adjustment,” Bessent responded.
“So, there’s a large quality betwixt insipid, endemic ostentation wrong the strategy and accordant terms level increases and a one-time adjustment,” helium added.
Trump besides said Saturday that the tariffs volition effect successful an “economic revolution.”
“We person been the dumb and helpless ‘whipping post,’ but not immoderate longer,” the president said connected Truth Social. “We are bringing backmost jobs and businesses similar ne'er before. Already, much than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast!”
National Economic Council Director Kevin Hassett defended the president’s tariffs connected Sunday, saying helium didn’t think determination volition beryllium a “big effect connected the user successful the U.S.”
