Scott Bessento defended this strategy, emphasizing the need for the US to protect themselves economically and criticized the posture of allied nations in relation to this issue
The Secretary of the Treasury of, Scott Bessent, revealed that the new tariff policy proposed by the President It can generate an annual revenue between $ 300 billion and $ 600 billion. He defended this strategy, emphasizing the need for the US to protect themselves economically and criticized the posture of allied nations in relation to this issue. Bessent emphasized the importance of strengthening national industry and reindustrializing the country, which, according to him, became excessively dependent on the financial sector. He also addressed the issue of external dependence in strategic areas, arguing that tariffs are a necessary response to different economic models, especially with regard to China.
In addition, the secretary mentioned that spending cuts are part of the plan to rebalance the public accounts. He believes that the implementation of tariffs could stimulate internal production, resulting in an increase in government collection. This approach aims not only to protect the economy, but also to encourage the growth of the productive sector. Despite adopting a protectionist tone, Bessent has expressed hope that an agreement between the US and China will be reached. He noted that tariffs are already changing China’s business model and considered the relationship between Trump and Xi Jinping as promising, which can pave the way for future negotiations.
Posted by Sarah Paula
*Report produced with the aid of AI
