Bessent Shrugs Off Tariff Selloff, Says Wall Street Isn’t Focus
US Treasury Secretary Scott Bessent has expressed confidence in President Donald Trump's plans to implement tariffs on foreign nations, despite the recent market slump in reaction to the first round of levies on Canada and Mexico. He attributed the market volatility to a temporary phenomenon and argued that prices would not rise due to the tariffs. The focus, according to Bessent, is on Main Street, small businesses, and consumers.
- The disconnect between Wall Street's concerns and the administration's priorities may be a sign of a deeper issue with the economic policy being implemented.
- How will the implementation of tariffs impact the already fragile global supply chains, particularly in industries heavily reliant on international trade?