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Treasury Secretary Scott Bessent on Wednesday defended the administration's aggressive trade policies, unveiling a comprehensive "3 through 3" economic blueprint designed to sustain high GDP growth while neutralizing "structural inflation."
Deconstructing critics' claims that import penalties harm American consumers, Bessent argued that persistent price pressures are rooted in domestic services rather than the government's newly revived global trade barriers.
Speaking in a wide-ranging interview on CNBC, Bessent dismissed warnings that defensive economic measures spike consumer costs.
"People like to say that it's added to inflation, but when you look at the data, the structural inflation has been in services," Bessent clarified, noting that service-sector dynamics are entirely insulated from global import markets.
Treasury Secretary Scott Bessent on Wednesday defended the administration's aggressive trade policies, unveiling a comprehensive "3 through 3" economic blueprint designed to sustain high GDP growth while neutralizing "structural inflation."
Deconstructing critics' claims that import penalties harm American consumers, Bessent argued that persistent price pressures are rooted in domestic services rather than the government's newly revived global trade barriers.
Speaking in a wide-ranging interview on CNBC, Bessent dismissed warnings that defensive economic measures spike consumer costs.
"People like to say that it's added to inflation, but when you look at the data, the structural inflation has been in services," Bessent clarified, noting that service-sector dynamics are entirely insulated from global import markets.
1 month ago
