Treasury Secretary Scott Bessent remarked on Thursday that a &#8220;new version of TDS&#8221; seems to have emerged, specifically targeting President Donald Trump&#8217;s tariff policies, and reminded Democrats that they lost the presidential election last year while defending the sitting administration&#8217;s economic policies.
Shorthand for &#8220;Trump Derangement Syndrome,&#8221; TDS refers to a phenomenon characterized by intense negative reactions to Trump, his actions, or his supporters. Republican lawmakers recently <a href="https://www.dailywire.com/news/gop-searches-patient-zero-trump-derangement-syndrome-new-bill" target="_blank" rel="noopener">introduced</a> a bill in the House to begin a study of its origins and identify potential solutions.
During a hearing on Capitol Hill, Sen. Ron Wyden (D-OR) <a href="https://x.com/RichSementa/status/1933185612636463228" target="_blank" rel="noopener">pressed</a> Bessent on whether American consumers are paying the tariffs amid Trump&#8217;s trade war with other countries after pointing out that the secretary himself <a href="https://www.dailywire.com/news/bessent-speaks-to-walmart-ceo-dismisses-draconian-forecast-on-tariffs" target="_blank" rel="noopener">conceded</a> nearly a month ago that retail giant Walmart could pass on price increases to consumers.
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&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome,&#8221; says <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>.
&#8220;Many on your side seem disappointed that there is no inflation &#8230; We saw the best inflation numbers since 2020, so there has been nothing passed on. There has been… <a href="https://t.co/KpYCPlUoA3">pic.twitter.com/KpYCPlUoA3</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933174639531901157?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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Bessent accused the Democrat of &#8220;cherry-picking&#8221; to suit a narrative. &#8220;Walmart makes decisions based on their customers&#8221; while he said two other large retailers, Amazon and Home Depot, have chosen not to pass along the cost of tariffs.
&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome, and many on your side seem disappointed that there is no inflation today,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1933174639531901157" target="_blank" rel="noopener">continued</a>. &#8220;As a matter of fact, we saw the best inflation numbers since 2020, so there has been nothing passed on. There has been no tariff recession. So no inflation, no recession due to tariffs.&#8221;
&#8220;Democrats are so out of touch and partisan that they refuse to acknowledge the President’s inflation wins and would actually prefer to see numbers rise,&#8221; Bessent <a href="https://x.com/SecScottBessent/status/1933183375227171099">wrote</a> in a post on X with a clip of his back-and-forth with Wyden.
At another point during the hearing, Bessent chided Sen. Michael Bennet (D-CO) during an exchange in which the Democrat lawmaker was loudly talking about tax cuts.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> nukes <a href="https://twitter.com/SenatorBennet?ref_src=twsrc%5Etfw">@SenatorBennet</a> on President Trump&#8217;s tax cuts: &#8220;We had a referendum on November 5th on our economic policies. Your side lost.&#8221; <a href="https://t.co/MLQ3AbZ36P">pic.twitter.com/MLQ3AbZ36P</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933175478455611657?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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&#8220;Sir, we had a referendum on November 5th on &#8230; economic policies. Your side lost,&#8221; Bessent said.
The secretary kept going, but Bennet started to speak over him.
&#8220;I agree with that, and I&#8217;m a rare Democrat who doesn&#8217;t blame Donald Trump for winning,&#8221; Bennet exclaimed. &#8220;I&#8217;m sad he won.&#8221;
Bessent shot back, &#8220;A higher decibel level does not give your statements more veracity.&#8221;

Treasury Secretary Scott Bessent Testifies To Senate Finance Committee On Treasury Dept’s Budget

Bessent Identifies New Strain Of TDS, Reminds Dems They Lost The Election

Congress

Democrats

Donald Trump

Economy

Inflation

Politics

Scott Bessent

Tariffs

Trade War

Treasury Department

Trump Derangement Syndrome

Treasury Secretary Scott Bessent admitted he had to laugh when Rep. Richard Neal (D-MA) claimed that the Internal Revenue Service (IRS) had implemented updated technology in recent years.
During a Thursday hearing on Capitol Hill, Bessent fielded questions from a number of House members on the One Big, Beautiful Bill — and he said that while he had &#8220;great respect&#8221; for Neal, he couldn&#8217;t help but be amused by his assertions regarding supposed improvements at the IRS.
WATCH:
<blockquote class="twitter-tweet">
🚨NEW—Treasury Secretary Scott Bessent FACT-CHECKS Democrat Richard Neal!
NEAL: &#8220;A professor at Yale has said that this [OBBB] will conservatively cause tens of thousands of unnecessary deaths!&#8221;
BESSENT: &#8220;I have great respect for you&#8230;But respectfully&#8230;I chuckled!&#8221;
&#8220;IT at… <a href="https://t.co/BEAFP9dfzN">pic.twitter.com/BEAFP9dfzN</a>
— Townhall.com (@townhallcom) <a href="https://twitter.com/townhallcom/status/1932812902416670948?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Neal began by claiming that improvements and &#8220;technological upgrades&#8221; were all thanks to former President Joe Biden&#8217;s Inflation Reduction Act, and that &#8220;cuts to Medicaid and SNAP&#8221; were going to lead to over a million lost jobs.
&#8220;A professor at Yale has said that this [OBBB] will conservatively cause tens of thousands of unnecessary deaths!&#8221; Neal continued. &#8220;Worse health care. Job losses. More borrowed money. The American people deserve considerably better than what we&#8217;re being told.&#8221;
Neal went on to &#8220;challenge&#8221; Bessent, saying that the minority side would work with the Trump administration if the bill would direct tax relief specifically to those making less than $400,000 in joint income.
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&#8220;Mr. Neal &#8230; Representative Neal,&#8221; Bessent replied. &#8220;I have great respect for you. We&#8217;ve had great conversations, but respectfully, if I weigh a thousand pound and you weigh 50 and I gain ten pounds &#8230;&#8221;
Bessent attempted to explain how the 2017 tax cuts — which have been widely panned by Democrats — lowered taxes for lower income brackets and those with higher incomes shouldered much more of the burden.
&#8220;I can&#8217;t — I&#8217;m sorry, I chuckled when you talked about the IT at the IRS,&#8221; Bessent continued. &#8220;The program is 35 years behind schedule. 35 years. And is wasting $2 billion a year.&#8221;
&#8220;That&#8217;s why we put the extra money in!&#8221; Neal objected.
&#8220;No, no, no, no, no! The extra money went in for BODIES!&#8221; Bessent fired back. &#8220;And whistleblowers acknowledged that standards were being lowered to bring in new agents. Money is not the issue here. It is how the money is spent.&#8221;
&#8220;That&#8217;s exactly right, we agree on that,&#8221; Neal interjected. &#8220;How the money is spent.&#8221;
&#8220;And it has been spent poorly,&#8221; Bessent replied.

Treasury Sec Admits He ‘Chuckled’ When Democrat Boasted About Improvements At IRS

Joe Biden

Treasury

The audience attending a Capitol Hill hearing audibly <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">groaned</a> on Wednesday when a House Democrat suggested Treasury Secretary Scott Bessent had interrupted her because she is a woman.
Bessent attempted to push back against Rep. Linda Sanchez (D-CA) after the lawmaker said prices were rising for &#8220;many everyday goods&#8221; in the wake of the Trump administration&#8217;s trade war with other countries.
&#8220;No, congresswoman —,&#8221; Bessent interjected.
<blockquote class="twitter-tweet" data-media-max-width="560">
SHAMEFUL: <a href="https://twitter.com/RepLindaSanchez?ref_src=twsrc%5Etfw">@RepLindaSanchez</a> baselessly accuses <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> of being sexist because he tried to correct her lie that &#8220;prices are rising.&#8221;
FACT: Under <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>, Americans have seen the first overall price decline since 2020. <a href="https://t.co/mQUe0D9otw">pic.twitter.com/mQUe0D9otw</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1932825191752646817?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Bessent sought to continue, apparently pointing to the Consumer Price Index showing that inflation <a href="https://www.axios.com/2025/06/11/cpi-may-2025-trump-inflation?utm_campaign=editorial&amp;utm_medium=social&amp;utm_source=twitter" target="_blank" rel="noopener">slowed</a> in May, but Sanchez wasn&#8217;t having it.
&#8220;Please don&#8217;t interrupt me. The time is mine. The time is mine. Please don&#8217;t interrupt me,&#8221; Sanchez said. &#8220;I will ask you questions and I will grant you an opportunity to answer them, but please don&#8217;t interrupt me during my time.&#8221;
Bessent, who had stopped with his rebuttal, responded: &#8220;With pleasure.&#8221;
However, Sanchez kept going.
&#8220;I know I&#8217;m a woman, but please try to limit yourself to answering my questions,&#8221; Sanchez said.
An uproar of groans ensued, to which Sanchez replied, &#8220;No, I&#8217;m sorry but we get talked over all the time and I don&#8217;t want that to happen at this hearing.&#8221;
The blowback continued on social media.
The X account Libs of TikTok, run by Chaya Raichik, <a href="https://x.com/libsoftiktok/status/1932832882680344650" target="_blank" rel="noopener">said</a> Sanchez &#8220;pretends to be a victim of sexism after getting caught LYING about price increases.&#8221; American Majority founder and CEO Ned Ryan <a href="https://x.com/nedryun/status/1932864560978858247" target="_blank" rel="noopener">quipped</a>, &#8220;Suddenly Dems know what a woman is. Fascinating.&#8221;
The White House&#8217;s &#8220;Rapid Response&#8221; account on X also condemned Sanchez
&#8220;SHAMEFUL: [Sanchez] baselessly accuses [Bessent] of being sexist because he tried to correct her lie that &#8216;prices are rising,'&#8221; it <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">said</a>. &#8220;FACT: Under [President Donald Trump], Americans have seen the first overall price decline since 2020.&#8221;
Sanchez shot back at the White House.
&#8220;That&#8217;s not the truth. Even Fox News says that prices are rising due to Trump&#8217;s tariffs,&#8221; the Democrat <a href="https://x.com/RepLindaSanchez/status/1932841985951609345" target="_blank" rel="noopener">said</a> on X.
Sanchez linked to a Fox Business <a href="https://www.foxbusiness.com/economy/consumers-paying-costs-trumps-tariffs-new-york-fed" target="_blank" rel="noopener">article</a> on a Federal Reserve Bank of New York survey from early May that showed businesses saying that some or all the costs of higher tariffs were being passed on to consumers.

Rep. Linda Sanchez (D-CA)

Dem’s Sexism Jab At Treasury Secretary Bombs, Draws Groans During Hearing

U.S.

U.S. House of Representatives

Treasury Secretary Scott Bessent testified Wednesday to a congressional committee in favor of President Donald Trump’s “Big, Beautiful Bill,” saying it would be &#8220;cataclysmic&#8221; for lawmakers to let the package die.
Bessent&#8217;s remarks came in response to a question from House Ways and Means Subcommittee on Tax Chairman Mike Kelly (R-PA).
“Let’s go to what actually is going to happen if this bill doesn’t get passed,&#8221; Kelly asked Bessent. &#8220;How is it going to affect hardworking American taxpayers?”
&#8220;It would be cataclysmic,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1932868781040136656">responded</a>. &#8220;It would be the largest tax hike in history. It would be a disaster for businesses, for working Americans, and for our status in the world.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: If the One Big Beautiful Bill doesn&#39;t pass, &quot;it would be cataclysmic. It would be the largest tax hike in history. It would be a disaster for businesses, for working Americans, and for our status in the world.&quot; <a href="https://t.co/Aaihs72JyP">pic.twitter.com/Aaihs72JyP</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1932868781040136656?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Bessent&#8217;s warning comes as the Senate considers whether or not it will pass the bill, which passed the House by just one vote. Two House Republicans <a href="https://www.foxnews.com/politics/gop-holdouts-sound-alarm-36t-debt-crisis-trumps-big-beautiful-bill-passes-house-vote" target="_blank" rel="noopener">voted against</a> it. <a href="https://thehill.com/homenews/senate/5341080-republicans-debate-fiscal-deficit-cuts/" target="_blank" rel="noopener">Senate Republicans</a> seem divided on the bill, with  Senator Rand Paul of Kentucky notably <a href="https://thehill.com/homenews/senate/5314189-rand-paul-house-gop-budget-bill/" target="_blank" rel="noopener">expressing</a> his dissatisfaction with the bill’s debt ceiling.
Replying to Kelly, Bessent warned that if the bill does not pass, “We would see increases in taxes of thousands of dollars on working Americans. We would see business contract, and we would see a substantial increase in the unemployment rate.”
Proponents of the bill, which <a href="https://taxpolicycenter.org/features/2025-tax-cuts-tracker#:~:text=TAX%20CUTS-,Expiring%20TCJA%20Provisions,set%20to%20expire%20after%202025.&amp;text=Near%20doubling%20of%20the%20standard,State%20and%20local%20taxes%20(SALT)" target="_blank" rel="noopener">extends</a> the 2017 Tax Cuts and Jobs Act, argue that killing it threatens the national economy, while opponents claim that the bill only adds trillions to the national debt while reducing healthcare and nutrition benefits.
Kelly also asked Bessent to comment about what more can be done to move the economy in the right direction.
“The combination of small business and manufacturing, along with the President’s tax agenda for no tax on tips, no tax on overtime, a tax cut for seniors, and the ability to buy a new, American-made car and deduct the interest will solve this horrendous affordability crisis,&#8221; Bessent replied.
“The way to think about it, Congressman — we are dealing with two things here: we are dealing with affordability and we are dealing with inflation,” Bessent said.
“We are working to pull [affordability] down. That can be pulled down two ways: through price levels or [increasing] real wages. I think we can do both but the real fill-up here would be [to] increase real wages for working Americans.”
Later in the hearing, Representative David Kustoff of Tennessee reiterated Kelly’s concerns about the danger of killing the bill.
Bessent agreed, saying that, “I think it could set off a financial crisis the likes of which we have not seen since ‘08, ‘09.”

Senate Finance Committee Holds Confirmation Hearing For Scott Bessent

Not Passing ‘Big, Beautiful Bill’ Would Be ‘Cataclysmic,’ Treasury Secretary Warns

Budget

Rand Paul

Senate

The Trump administration on Monday placed new sanctions on a faction of the Sinaloa Cartel responsible for fentanyl production and trafficking.
The Treasury Department also <a href="https://home.treasury.gov/news/press-releases/sb0161">announced</a> sanctions on two sons of the notorious drug kingpin Joaquin “El Chapo” Guzman Loera. Guzman’s sons, Archivaldo Ivan Guzman Salazar and Jesus Alfredo Guzman Salazar, are “fugitive leaders” of the Los Chapitos, a faction of the Sinaloa Cartel that runs fentanyl factories and trafficking routes into the United States.
“Los Chapitos is a powerful, hyperviolent faction of the Sinaloa Cartel at the forefront of fentanyl trafficking into the United States,” said Treasury Secretary Scott Bessent. “At the Department of the Treasury, we are executing on President Trump’s mandate to completely eliminate drug cartels and take on violent leaders like ‘El Chapo’s’ children. Treasury is maximizing all available tools to stop the fentanyl crisis and help save lives.”
Los Chapitos has been identified as a top manufacturer of fentanyl pills through its many factories. Many of those pills are trafficked into the United States, fueling the U.S. drug trade and contributing to the tens of thousands of fentanyl overdose deaths in the United States every year.
The Sinaloa faction has also been linked to torture, extortion, and kidnapping, among other violent acts, and the turf wars it has fought against other drug cartels are believed to have taken hundreds of lives. The Sinaloa Cartel has also been linked to the 2024 killing of U.S. Marine Nicholas Quets in Sonora, Mexico.
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“The designation of the Sinaloa Cartel as a Foreign Terrorist Organization (FTO) was a vital first step in honoring Nicholas’ memory and protecting other Americans from suffering similar tragedies. It sends a clear message: Those who target U.S. citizens — no matter where they are — will face the full force of American resolve,” Quets&#8217; father, Doug Quets, said in a statement.
The Department of State has placed a $10 million bounty on each of the &#8220;fugitive leaders” of Los Chapitos. The drug kingpin’s other two sons, Ovidio Guzman Lopez and Joaquin Guzman Lopez, are in U.S. custody along with their father.
Ovidio was arrested in Mexico in 2023, extradited to the United States, and is facing charges in Chicago on money laundering, drug, and gun offenses. Federal authorities arrested Joaquin last year in Texas where he is being held on charges related to money laundering, drug trafficking, and other crimes.
“El Chapo” has been found guilty on dozens of charges in the United States and is serving out a life sentence at a supermax facility in Colorado. The drug lord previously escaped two high-security prisons in Mexico before he was taken into custody by U.S. authorities.

Joaquin “El Chapo” Guzman Loera

Trump Admin Sanctions Sons Of ‘El Chapo,’ Leaders Of Sinaloa Cartel’s Fentanyl Factories

Department of the Treasury

Drug Cartels

Global Politics

Sinaloa Cartel

Governor Gavin Newsom is &#8220;threatening to commit criminal tax evasion,&#8221; Treasury Secretary Scott Bessent said on Sunday, amid an escalating war of words between California and the Trump administration.
The warning from Bessent came in response to Newsom recently <a href="https://x.com/GavinNewsom/status/1931087538565054849" target="_blank" rel="noopener">suggesting</a> that his state &#8220;cut&#8221; off the more than $80 billion &#8220;more in taxes than we get back&#8221; in response to a CNN <a href="https://www.cnn.com/2025/06/06/politics/trump-california-federal-funding" target="_blank" rel="noopener">report</a> with sources claiming President Donald Trump was preparing a broad cancellation of federal funding for California.
&#8220;Governor [Gavin Newsom] is threatening to commit criminal tax evasion. His plan: defraud the American taxpayer and leave California residents on the hook for unpaid federal taxes,&#8221; Bessent <a href="https://x.com/SecScottBessent/status/1931763599116030322" target="_blank" rel="noopener">said</a> in a thread posted on X.
&#8220;I am certain most California businesses know that failing to pay taxes owed to the Treasury constitutes tax evasion and have no intention of following the dangerous path Governor [Gavin Newsom] is threatening,&#8221; Bessent added. &#8220;I would warn state officials, including payroll managers, that federal law attaches personal liability to an &#8216;attempt to evade or defeat tax.'&#8221;
Newsom&#8217;s &#8220;comments are extremely reckless. Instead of committing criminal tax evasion, Governor Newsom should consider a tax plan for California that follows the Trump Tax Cuts model and reduces the onerous state tax burden to allow families to keep more of their hard-earned money,&#8221; Bessent concluded.
Bessent posted the thread as Newsom, a Democrat widely considered a potential candidate for the presidency, <a href="https://www.dailywire.com/news/deranged-behavior-gavin-newsom-declares-war-on-pete-hegseth-gets-more-than-he-bargained-for" target="_blank" rel="noopener">clashed</a> with President Donald Trump and Defense Secretary Pete Hegseth over troop deployments to California amid violent anti-ICE protests that have taken place in and around Los Angeles over the weekend.
After Hegseth said active-duty Marines at Camp Pendleton would be <a href="https://www.dailywire.com/news/pete-hegseth-puts-nearby-u-s-marines-on-high-alert-as-los-angeles-burns" target="_blank" rel="noopener">mobilized</a> to assist National Guardsmen if the chaos persists, Newsom accused the Defense Secretary of exhibiting &#8220;<a href="https://www.dailywire.com/news/deranged-behavior-gavin-newsom-declares-war-on-pete-hegseth-gets-more-than-he-bargained-for" target="_blank" rel="noopener">deranged behavior</a>&#8221; for &#8220;threatening to deploy active-duty Marines on American soil against its own citizens.&#8221;
In response, Hegseth said on X, &#8220;Deranged = allowing your city to burn &amp; law enforcement to be attacked. There is plenty of room for peaceful protest, but ZERO tolerance for attacking federal agents who are doing their job. The National Guard, and Marines if need be, stand with ICE.&#8221;

Secretary of the Treasury Scott Bessent

Newsom ‘Threatening’ Criminal Tax Evasion, Treasury Secretary Warns

California

Gavin Newsom

Pete Hegseth

Riots

Taxes

Trump Administration

Treasury Secretary Scott Bessent challenged CBS journalist Margaret Brennan on Sunday over the potential inflationary impact of President Donald Trump&#8217;s tariffs.
In a &#8220;Face the Nation&#8221; <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-06-01-2025/" target="_blank" rel="noopener">interview</a>, Brennan insisted &#8220;the reality is there will either be less inventory or things at higher prices, or both.&#8221; Bessent shot back, <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-03-02-2025/" target="_blank" rel="noopener">alluding</a> to a previous conversation they had in March, days before Trump unleashed his &#8220;Liberation Day&#8221; tariffs upon the world.
&#8220;Margaret, when we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation,&#8221; Bessent said. &#8220;Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this could happen, and wait and see what does happen.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;When we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation. Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this COULD happen — wait and see what DOES happen.&#8221; 🔥 <a href="https://t.co/1LeTZf2UX1">pic.twitter.com/1LeTZf2UX1</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929188418249965629?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Earlier, Brennan told Bessent that when he was on the program in March, the two of them were &#8220;trying to gauge&#8221; how American consumers might be affected by the tariffs. She then asked the Cabinet official where he is anticipating price increases.
&#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret. And thus far, there have been no price increases. Everything has been alarmist,&#8221; Bessent said, adding that the &#8220;inflation numbers are actually dropping.&#8221;
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.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret — and thus far, there have been no price increases. Everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop in inflation in four years.&#8221; <a href="https://t.co/asuc8YnHYZ">pic.twitter.com/asuc8YnHYZ</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929187165830869432?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
A couple of weeks ago, the Labor Department <a href="https://www.dailywire.com/news/inflation-hits-lowest-point-in-over-4-years-as-april-report-better-than-expected" target="_blank" rel="noopener">released</a> data showing that inflation hit its lowest point — 2.3% — in four years, as Trump pursues trade deals with China and other countries hit by tariffs.
Brennan pressed Bessent on retailers such as Walmart, Best Buy, and Target <a href="https://www.cnbc.com/2025/05/31/trump-tariffs-here-are-the-retailers-raising-prices.html" target="_blank" rel="noopener">raising prices</a>. In response, Bessent noted that other companies, including <a href="https://www.axios.com/2025/05/20/home-depot-stock-prices-tariffs" target="_blank" rel="noopener">Home Depot</a> and Amazon, have taken a different tack. And he pointed out, &#8220;I know what the South China Morning Post wrote within the past 24 hours that 65% — 65%! — of the tariffs will likely be eaten by the Chinese producers.&#8221;
&#8220;So are there five or eight areas that you have identified, as you said back in March, where American consumers will be able to have lower prices, or should be warned of higher prices?&#8221; Brennan asked.
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&#8220;Well, a lot of it&#8217;s already working its way through the system,&#8221; Bressent replied. &#8220;So we&#8217;ve seen a substantial decrease in gasoline and energy prices. So that&#8217;s down 20% year over year. We&#8217;ve seen the food prices go down, these notorious egg prices. Through the good work of President Trump and [Agriculture] Secretary [Brooke] Rollins, egg prices have collapsed. So we&#8217;re seeing more and more.&#8221;
He added: &#8220;And what we want to do is even that out across all sections of the economy. So inflation has been very tame. Consumer earnings were up 0.8% last month, which is a gigantic increase for one month. So real earnings minus low inflation is great for the American people, and that&#8217;s what we&#8217;re seeing.&#8221;
Brennen also questioned Bessent about the &#8220;One Big, Beautiful Bill&#8221; that passed through the GOP-led House and is now under consideration by the Republican-controlled Senate.
&#8220;In it is increase or suspension to the debt limit that you need delivered on by mid-July. How close of a brush with default could this be, given how massive some of the Senate changes are expected to be to the other parts of the bill?&#8221; Brennan asked.
&#8220;Well, first of all, Margaret, I will say the United States of America is never going to default. That is never going to happen. &#8230; We are on the warning track and we will never hit the wall,&#8221; Bessent said, adding later, &#8220;We don&#8217;t give out the X date because we use that to move the bill forward.&#8221;
<iframe loading="lazy" title="Scott Bessent &quot;confident&quot; U.S.-China trade details &quot;will be ironed out&quot; when Trump, Xi talk" width="500" height="281" src="https://www.youtube.com/embed/jTK0fDt9K78?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

US Treasury Secretary Scott Bessent Interview

Treasury Secretary Busts ‘Alarmist’ Inflation Predictions

CBS News

Margaret Brennan

Treasury Secretary Scott Bessent argued on Friday that the country&#8217;s massive debt can be controlled by growing the U.S. economy.
Bessent addressed concerns over President Donald Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; adding to the national deficit during a segment with Fox News host Bill Hemmer. A Congressional Budget Office <a href="https://www.cbo.gov/system/files/2025-05/61422-Reconciliation-Distributional-Analysis.pdf" target="_blank" rel="noopener">report</a> released earlier this week said the Republican bill passed by the House on early Thursday morning will add $3.8 trillion to the deficit over the next decade. The national debt is <a href="https://www.usdebtclock.org/index.html" target="_blank" rel="noopener">rapidly approaching</a> $37 trillion as the federal deficit currently sits at over $2 trillion.
&#8220;We think that we can both grow the economy and control the debt,&#8221; Bessent said. &#8220;And what&#8217;s important, Bill, is that the economy grows faster than the debt.&#8221;
He added that Americans should focus on the debt-to-GDP ratio &#8220;because we can grow our way out of this.&#8221; In December, U.S. debt accounted for <a href="https://www.ceicdata.com/en/indicator/united-states/government-debt--of-nominal-gdp#:~:text=United%20States%20Government%20Debt:%20%25%20of%20GDP,-1969%20%2D%202024%20%7C%20Quarterly&amp;text=United%20States%20Government%20debt%20accounted,Mar%201969%20to%20Dec%202024." target="_blank" rel="noopener">124%</a> of the nation&#8217;s nominal GDP, which was down from the all-time high of 130.4% in March of 2021.
&#8220;If we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of this,&#8221; Bessent continued.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &quot;What&#39;s important is that the economy grows faster than the debt&#8230; If we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of this.&quot; <a href="https://t.co/aplXNS5mLP">pic.twitter.com/aplXNS5mLP</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1925907334640865476?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The approach touted by Bessent focuses on reducing taxes, a major part of Trump&#8217;s &#8220;Big, Beautiful Bill.&#8221; The idea is that lower taxes and deregulation will create a thriving economy and boost manufacturing, sales, and consumer spending, which will in turn increase tax revenue without raising taxes.
Last year, however, the Congressional Budget Office <a href="https://www.cbo.gov/publication/59711" target="_blank" rel="noopener">projected</a> that the deficit would continue to outpace economic growth over the next 30 years.
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&#8220;The deficit increases significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054,&#8221; the office stated. &#8220;That growth results from rising interest costs and large and sustained primary deficits, which exclude net outlays for interest.&#8221;
During the 2024 campaign, Bessent said that his goal is to &#8220;cut the deficit to 3% by 2028; achieve 3% real economic growth, largely through deregulation; and then add 3 million new barrels of energy per day.&#8221; He told <a href="https://www.bloomberg.com/news/articles/2024-08-07/five-questions-for-trump-adviser-and-key-square-group-founder-scott-bessent?sref=17aozLHf" target="_blank" rel="noopener">Bloomberg</a> that Trump is concerned about addressing the national debt and wants to get it under control &#8220;without causing a recession.&#8221;
Some conservative Republicans raised concerns about Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; not doing enough to cut back on government spending. Two House Republicans, Reps. Thomas Massie of Kentucky and Warren Davidson of Ohio, <a href="https://www.foxnews.com/politics/gop-holdouts-sound-alarm-36t-debt-crisis-trumps-big-beautiful-bill-passes-house-vote" target="_blank" rel="noopener">voted against</a> the legislation, citing the federal deficit.
&#8220;While I love many things in the bill, promising someone else will cut spending in the future does not cut spending. Deficits do matter and this bill grows them now. The only Congress we can control is the one we’re in. Consequently, I cannot support this big deficit plan. NO,&#8221; Davidson said on Thursday.
The White House called the two GOP congressmen &#8220;grandstanders.&#8221;
&#8220;I don&#8217;t think he likes to see grandstanders in Congress,&#8221; White House Press Secretary Karoline Leavitt said of Trump&#8217;s thoughts on Massie and Davidson. &#8220;What&#8217;s the alternative? I would ask those members of Congress. Did they want to see a tax hike? Did they want to see our country go bankrupt? That&#8217;s the alternative by them trying to vote ‘no.’ The president believes the Republican Party needs to be unified.&#8221;
In the Senate, the bill faces more hurdles as multiple Republicans have raised concerns on numerous topics. Sen. Rand Paul (R-KY) <a href="https://thehill.com/homenews/senate/5314189-rand-paul-house-gop-budget-bill/" target="_blank" rel="noopener">said</a> he will vote against the bill unless they &#8220;take the debt ceiling off of it.&#8221;
“We’ve never, ever voted to raise the debt ceiling this much. It’ll be a historic increase. I think it’s not good for conservatives to be on record supporting a $4 [trillion] or $5 trillion increase in the debt ceiling,” Paul said.

Bessent Says U.S. Can ‘Grow Our Way Out Of’ National Debt Crisis By Focusing On Economy

Debt Ceiling

National Debt

spending

Treasury Secretary Scott Bessent dismissed Walmart CEO Doug McMillon’s “draconian” tariff warning on Sunday, stating the retail giant will absorb some costs and may pass other price increases on to consumers, following a direct conversation between the two.
Bessent shared the development on CNN&#8217;s &#8220;State of the Union&#8221; after McMillon announced last week that tariffs would lead to higher prices at Walmart, prompting President Donald Trump to <a href="https://www.dailywire.com/news/eat-the-tariffs-trump-unloads-on-walmart-ceo-for-saying-hes-raising-prices" target="_blank" rel="noopener">warn against</a> it.
&#8220;I did speak to Doug McMillon, who I have a very good relationship [with], yesterday, just to understand what he had to say,&#8221; Bessent told anchor Jake Tapper. &#8220;And understand that came from an earnings call. On an earnings call, because of SEC requirements, they have to give the most draconian case. So Walmart will be absorbing some of the tariffs. Some may get passed on to consumers.&#8221;
He added: &#8220;But the other thing that&#8217;s happening is that inflation is down. We had the first drop in inflation in four years under President Trump. The other thing that Doug mentioned to me is, for his consumers, for his buyers, the most important thing are gasoline prices. And this administration has gotten gasoline prices down. Service prices are down. So, overall, I would expect inflation to remain in line. But I don&#8217;t blame consumers for being skittish after what happened to them four years under [President Joe] Biden. We had the worst inflation in 40 years.”
<blockquote class="twitter-tweet" data-media-max-width="560">
Bessent: &#8220;Walmart will be absorbing some of the tariffs. Some may get passed on to consumers.&#8221; <a href="https://t.co/QhpOfIMsim">pic.twitter.com/QhpOfIMsim</a>
— The Bulwark (@BulwarkOnline) <a href="https://twitter.com/BulwarkOnline/status/1924092180613759120?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
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McMillon shared his forecast for prices during an earnings call on Thursday, alluding to a breakthrough in negotiations in which the United States <a href="https://www.dailywire.com/news/u-s-china-release-details-of-agreement-to-dramatically-slash-tariffs" target="_blank" rel="noopener">lowered</a> tariffs on Chinese imports from 145% down to 30% for 90 days while trade discussions continue between the world&#8217;s two largest economies.
&#8220;We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” McMillon <a href="https://corporate.walmart.com/content/dam/corporate/documents/newsroom/2025/05/15/walmart-releases-q1-fy26-earnings/q1-fy26-earnings-call-transcript.pdf" target="_blank" rel="noopener">said</a>, adding later: &#8220;We&#8217;re positioned to manage the cost pressure from tariffs as well or better than anyone. But even at the reduced levels, the higher tariffs will result in higher prices.&#8221;
Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114523638623110397" target="_blank" rel="noopener">responded</a> Saturday in a post on Truth Social.
&#8220;Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,&#8221; Trump said. &#8220;Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!&#8221;

Treasury Secretary Scott Bessent

Bessent Speaks To Walmart CEO, Dismisses ‘Draconian’ Forecast On Tariffs

China

Walmart

The United States and China on Monday announced an agreement to significantly reduce tariffs for 90 days while trade negotiations continue after top American and Chinese officials met in Switzerland over the weekend.
The deal means that President Donald Trump&#8217;s 125% reciprocal tariff on China will be reduced to 10%, with a 20% fentanyl tariff still in place, a significant drop from the 145% tariff placed on Chinese goods in the last few weeks. China will drop its retaliatory tariffs on the United States from 125% to 10%. The reductions are to be in place by Wednesday, May 14.
“After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations,” said a joint statement from the United States and China. &#8220;These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues.&#8221;
U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and China Vice Premier of the State Council He Lifeng will continue discussions.
&#8220;I would say one of the big takeaways from this weekend — the United States will continue a strategic rebalancing in many areas that were exposed as supply chain weaknesses during COVID, whether it&#8217;s medicines, whether it&#8217;s semiconductors, steel,&#8221; Bessent said. &#8220;We will continue moving toward U.S. independence or reliable supplies from allies on those — but the consensus from both delegations this weekend is neither side wants a decoupling.&#8221;
China will also suspend non-tariff actions taken against the United States since April 2 such as restrictions on exports of rare earths and penalties for certain American companies.
Bessent added that he would like to see China open to more American goods and said that the two countries now have a mechanism in place to continue trade discussions. He <a href="https://www.cnbc.com/2025/05/12/treasury-secretary-bessent-says-hes-likely-to-meet-with-china-again-in-next-few-weeks.html" target="_blank" rel="noopener">later told</a> CNBC that he expected to meet with Chinese officials again in a few weeks to work toward a more &#8220;fulsome agreement.&#8221;
“We tried to identify shared interest,” he said. “We came with a list of problems that we were trying to solve, and I think we did a good job on that.”
The White House also wants to rebalance trade with China, noting in a release that the trade deficit with the communist country was $295.4 billion in 2024.
Bessent said that the Biden administration had failed to make China abide by previous trade agreements.
&#8220;We had an excellent trade agreement with China — and the Biden Administration chose not to enforce it,&#8221; he said. &#8220;The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations.&#8221;
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;We had an excellent trade agreement with China — and the Biden Administration chose not to enforce it. The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations.&#8221; <a href="https://t.co/Sv8pxVrazf">pic.twitter.com/Sv8pxVrazf</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1921896843610403005?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Greer noted that Chinese officials had indicated that they would be taking more steps to crackdown on the flow of fentanyl originating in China into the United States.
&#8220;Both the Chinese and the United States agreed to work constructively together on fentanyl and there&#8217;s a positive path forward there as well,&#8221; he told reporters.
Bessent noted that the Chinese Deputy Minister for Public Safety, who he noted was not &#8220;traditionally part of the trade team,&#8221; was present at the talks over the weekend. He said that official had a &#8220;robust and highly detailed&#8221; discussion on the fentanyl issue.
Stock markets worldwide surged due to the temporary agreement, and the U.S. stock futures also jumped.

SWITZERLAND-US-CHINA-DIPLOMACY-TARIFF-TRADE

U.S., China Release Details Of Agreement To Dramatically Slash Tariffs

trade

After two days of talks in Switzerland, President Donald Trump&#8217;s envoys touted what they said was significant movement toward reaching a trade deal with China.
Treasury Secretary Scott Bessent told reporters on Sunday that there was <a href="https://x.com/business/status/1921615311838577125" target="_blank" rel="noopener">&#8220;substantial progress&#8221;</a> and a &#8220;great deal of productivity&#8221; in the discussions with Chinese officials.
&#8220;We will be giving details tomorrow, but I can tell you that the talks were productive,&#8221; Bessent added.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> says there has been a &#8220;great deal of productivity&#8221; in trade talks with China: &#8220;We will be giving details tomorrow, but I can tell you that the talks were productive.&#8221; <a href="https://t.co/v85uugnMnV">pic.twitter.com/v85uugnMnV</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1921597140784013614?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The delegation from China also indicated the negotiations went well.
Chinese Vice Premier He Lifeng said the talks marked &#8220;an important first step&#8221; and promised a joint statement, according to <a href="https://www.bloomberg.com/news/articles/2025-05-11/us-china-made-substantial-progress-in-trade-talks-bessent-says" target="_blank" rel="noopener">Bloomberg</a>.
As it stands, the United States imposed an overall tariff rate on Chinese goods at 145%. Beijing responded by <a href="https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html" target="_blank" rel="noopener">raising</a> tariffs on U.S. goods to 125%.
China&#8217;s delegation <a href="https://www.dailywire.com/news/china-dispatches-top-security-chief-to-face-trump-team-over-fentanyl-crisis-tariffs" target="_blank" rel="noopener">reportedly</a> included President Xi Jinping&#8217;s top security official, a sign the discussions broached the fentanyl crisis in addition to trade.
The world&#8217;s two largest economies have been roiled as a result of the trade war, which escalated with Trump&#8217;s &#8220;Liberation Day&#8221; tariffs last month.
Bessent noted that he and U.S. Trade Representative Jamieson Greer spoke to Trump the night before.
&#8220;He is fully informed of what is going on,&#8221; Bessent said of the president.
Trump himself posted about the talks on Truth Social in the evening on Saturday.
&#8220;A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114486066663976973" target="_blank" rel="noopener">said</a>.
&#8220;We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!&#8221; the president added.
Greer, who was standing beside Bessent, said China&#8217;s officials &#8220;worked very diligently&#8221; and were &#8220;very tough negotiators.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/USTradeRep?ref_src=twsrc%5Etfw">@USTradeRep</a> in Geneva: &#8220;The U.S. has a massive $1.2 trillion trade deficit, so the President declared a national emergency &#8230; We&#8217;re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency.&#8221; <a href="https://t.co/1kuPhzzGLp">pic.twitter.com/1kuPhzzGLp</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1921597758911267219?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
He echoed what Bessent said, declaring how the past two days were &#8220;very constructive,&#8221; and then made a stark observation about the timeframe.
&#8220;It&#8217;s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought,&#8221; Greer said.
&#8220;That being said, there was a lot of groundwork that went into these two days,&#8221; he continued.
Greer also emphasized that it was &#8220;important&#8221; to remember why they were there in the first place.
&#8220;The United States has a massive $1.2 trillion trade deficit, so the president declared a national emergency and imposed tariffs,&#8221; Greer said.
&#8220;We&#8217;re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,&#8221; he added.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
“80% Tariff on China seems right! Up to Scott B,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114477628854583525" target="_blank" rel="noopener">said</a> in a Truth Social post on Friday.
Trump officials have been <a href="https://www.dailywire.com/news/sorry-china-bessent-says-deal-with-massive-trade-partner-very-close" target="_blank" rel="noopener">negotiating</a> on trade with a host of nations impacted by the president&#8217;s &#8220;Liberation Day&#8221; tariffs, which hinge on a national emergency declaration.
Last week, the White House unveiled a trade deal <a href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-u-s-uk-reach-historic-trade-deal/" target="_blank" rel="noopener">framework</a> with the United Kingdom.

US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer

Trump’s Envoys Tease China Trade Breakthrough, Stress How ‘Quickly’ It Came Together

Communist China

Free Trade

Switzerland

&#8220;Great progress&#8221; was made in trade negotiations with China, President Donald Trump said on Saturday evening, as he touted a &#8220;total reset&#8221; in the making.
Trump made the announcement as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer <a href="https://www.dailywire.com/news/breakthrough-trump-officials-set-date-for-direct-trade-talks-with-china" target="_blank" rel="noopener">met</a> with Chinese officials in Switzerland over the weekend.
&#8220;A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114486066663976973" target="_blank" rel="noopener">said</a> on Truth Social. &#8220;We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!&#8221;
While many countries received a 90-day reprieve for &#8220;Liberation Day&#8221; tariffs above the baseline rate of 10% last month, the United States <a href="https://www.dailywire.com/news/trump-issues-90-day-pause-on-most-tariffs-raises-chinas-to-125" target="_blank" rel="noopener">increased</a> the overall penalty on Chinese goods to 145%. Beijing responded by <a href="https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html" target="_blank" rel="noopener">raising</a> tariffs on U.S. goods to 125%. The economies in the United States and China have been roiled as a result of the trade war.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
&#8220;80% Tariff on China seems right! Up to Scott B,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114477628854583525" target="_blank" rel="noopener">said</a> in a Truth Social post on Friday.
China’s President Xi Jinping sent a delegation led by Vice Premier He Lifeng.
The Wall Street Journal <a href="https://www.dailywire.com/news/china-dispatches-top-security-chief-to-face-trump-team-over-fentanyl-crisis-tariffs" target="_blank" rel="noopener">reported</a> that the group includes Minister of Public Security Wang Xiaohong, who is considered &#8220;the point person in Beijing’s recent discussions with Washington over how to address President Trump’s concerns about China’s role in the fentanyl trade.&#8221;
Trump administration officials have been negotiating on trade with a host of nations over the past several weeks and have <a href="https://www.dailywire.com/news/sorry-china-bessent-says-deal-with-massive-trade-partner-very-close" target="_blank" rel="noopener">signaled</a> progress in talks with the likes of India, South Korea, and Japan.
Last week, the White House unveiled a trade deal <a href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-u-s-uk-reach-historic-trade-deal/" target="_blank" rel="noopener">framework</a> with the United Kingdom that aims to slash tariffs and non-tariff barriers to unlock $5 billion in new export opportunities for U.S. farmers and businesses, while retaining a 10% Liberation Day tariff base rate and imposing &#8220;alternative&#8221; arrangements for British auto and steel imports to &#8220;bolster&#8221; economic and national security.
“Both countries have agreed that economic security is national security and will be working together as allies to ensure that we have a strong industrial base and appropriate export controls and protections for key technologies and industries like steel,” Trump <a href="https://www.dailywire.com/news/both-countries-will-become-stronger-trumps-trade-deal-will-give-u-s-more-access-to-u-k-economy" target="_blank" rel="noopener">said</a>. “Steel was a big factor. Both countries will become stronger with steel.”

President Donald Trump

Trump Hails ‘Total Reset’ In China Trade Negotiations

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