Treasury Secretary Scott Bessent appeared on “This Week” Sunday with host Martha Raddatz and defended his boss Donald Trump on the tariff issue, saying the president has a method to his moves:
“In game theory, it’s called ‘strategic uncertainty,'” Bessent said of Trump’s back-and-forth tariff strategy. “So you’re not going to tell the person on the other side of the negotiation where you’re going to end up. Nobody’s better at creating this leverage than President Trump.”
“He’s shown these high tariffs — and here’s the stick,” he continued. “And the carrot is ‘Come to us, take off your tariffs, take off your non-tariff trade barriers, stop manipulating your currency, stop subsidizing labor and capital, and then we can talk.'”
Bessent on Trump Tariff Strategy: “In Game Theory, It’s Called Strategic Uncertainty”https://t.co/vSAQaD56I2
“You’re not going to tell the person on the other side of the negotiation where you’re going to end up… Nobody is better at creating this leverage.” pic.twitter.com/5cE6eKBw1H
— RCP Video (@rcpvideo) April 27, 2025
He added that although relations with China are tense at the moment due to Trump’s tariffs, in the end, the two economic behemoths will find common ground:
“The first path will be a de-escalation, which I think the Chinese are going to have to have,” he said.
“A trade deal can take months, but an agreement in principle and the good behavior and staying within the parameters of the deal by our trading partners can keep the tariffs from ratcheting back to the maximum level.”
Related: I’m Starting the Scott Bessent Appreciation Society — Who’s With Me? (VIP)
Winning: China Blinks, Backs Down on Some Tariffs, With Even More to Come
Bessent also called out the mainstream media for going ballistic when the stock market struggled, but then went mostly silent when indexes began to shoot back up:
.@SecScottBessent: “There was a story ten days ago that said this is the worst April for the stock market since the Great Depression. Ten days later, the Nasdaq is now up on the month of April, and I haven’t seen a story that says ‘stock market has biggest bounce back ever.'” pic.twitter.com/gbU68ocKV8
— Rapid Response 47 (@RapidResponse47) April 27, 2025
He also reiterated that despite the jitters some investors have shown in reacting to Trump’s economic moves, the “U.S. government bond market is the safest and soundest in the world.”
We are setting the fundamentals for a strong dollar, a strong economy, and a strong stock market.
Investors need to know that the U.S. government bond market is the safest and soundest in the world. pic.twitter.com/wQGBdzkz6e
— Treasury Secretary Scott Bessent (@SecScottBessent) April 27, 2025
Lastly, he said the American economy has been failing the American worker, and despite what the naysayers drone on about, manufacturing can once again flourish in the country:
.@SecScottBessent: The U.S. has a barbell economy. We have a financial system and tech sector that’s the envy of the world. On the other side, we’re a natural resource economy led by energy. In between is where working class Americans have lost out — and we want to fix that. pic.twitter.com/k8ljPy9PHd
— Rapid Response 47 (@RapidResponse47) April 27, 2025
As many have pointed out, anyone who tells you they know how this will all unfold is deluding themselves, because the effects of tariffs and possible extended trade wars are impossible to predict. Scott Bessent, however, is confident that we’re on the right path even if the waters get turbulent at times. Time will tell if he’s right.
Team Trump has been thinking outside the box, and it’s refreshing after four years of Biden malaise.
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