The secretary of the Treasury Department, Scott Bessent, discusses President Donald Trump, signing a reciprocal tariff plan, the vice-president threatening Russia with sanctions, a potential economic partnership agreement with Ukraine and public waste.
Less than a day after President Donald Trump has brought a reciprocal tariff plan, the administration’s Treasury Secretary closed economic concerns around the state of world trade.
“President Trump is serious to negotiate this. And look, I do not understand why there is a decline on this subject, that if they want to reduce all these barriers, we will have more global trade without friction,” said Scott Besides in an exclusive interview on “Mornings with Maria” Friday.
“As we learned with President Trump, you should take him. It’s not theater,” he said. “The deadline of April 1 concerns a study that the Commerce Department does on the world rates that apply to American products by country.”
Trump announced a plan for the United States on Thursday to watch Implementation of “reciprocal” prices Against countries that tax or limit markets for American goods. Trump said he did not expect any exemption or derogation for the plan, which could apply to opponents and allies.
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The candidate for the Secretary of Commerce Howard Lutnick and the US trade representative would then submit a report detailing the prices to a country by country, said a White House official, previewing the announcement. Studies will be completed by April 1.
US Treasury Secretary Scott Bessent discussed the world trade and Trump’s pricing plans “Mornings With Maria” on Friday. (Getty Images)
The manager added that the Director of the Management and Budget Office (OMB), Russ Vought, would then have 180 days to produce a report evaluating any financial impact.
It occurs just a few days after the Trump administration has announced 25% prices on Steel and aluminum importsAnd a 10% price between the edge of China last week.
“We are going to find what is the equivalent of an index, what I would call a reciprocal index, a country by country, the unanswered prices, non-runners, trade barriers and the manipulation of money”, explained Bessent.
“I expect that we get this report and we will see how our business partners choose to answer. But I can tell you that if he needs it, he will implement them,” added the secretary of the Treasury. “And as he said yesterday in the interview, it can be a great source of income for the United States government.”
The American secretary of the Treasury, Scott Bessent, is aimed at the economic and budgetary objectives of President Donald Trump in his first interview on “Kudlow” since entering the administration.
Bessent also responded to widespread criticism from certain market economists and experts that prices can exacerbate inflation and Create additional costs For consumers.
“I think it is a simplified and reductionist vision. It is typical of the old thought, and that is the reason why the United States has benefited for years and years. This is the reason for Which we have these gigantic trade deficits.
“All President Trump wants is that American companies have a trade without friction. And I will support our American manufacturers to make the best products at the best price. And they can sell anywhere in the world without these obstacles. “
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The main house advisor for the White House for Commerce and Manufacturing, Peter Navarro, underlines the economic importance of Doge and the reciprocal price plan of President Donald Trump on “The Evening Edit”.
According to the top money manager of America, the accumulated income of prices is based solely on the collaboration of business partners.
“It will depend on the responses of our business partners, the speed with which they do, how much they do it over time,” said Bessent. “But I could tell you that they could be very, very substantial if they do not want to reduce their prices because we will match them, percentage for percentage, dollar for dollar.”
Greg Norman of Fox Business contributed to this report.
