Bessent on Tariffs, Deficits and Trump’s Economic Plan

The US Treasury secretary has the ear of an impulsive president—and nervous investors worldwide hope it stays that way.

“If we had said, ‘Here are the numbers. These are the maximum tariff levels if you don’t retaliate, but we’re open for negotiation.’”

On Air Force One that Sunday in April, Bessent says, he proposed an immediate tariff pullback to defuse the crisis.

But the president was undeterred. He wanted to scare America’s trading partners to the bargaining table.

“Let’s let it run a couple more days,” he told Bessent. “Do not say we’re willing to negotiate.”

It wasn’t until a few hours before the levies were supposed to kick in that Trump finally relented.

The story everyone on Wall Street wants to believe is that Bessent, one of their own, persuaded a reluctant Trump to capitulate on tariffs

TACO, for “Trump always chickens out.”

Bessent insists that’s wrong. “The market did not force him,” he says. “He has a higher risk tolerance than I do.”

Bloomberg augusti 2025

Bessent

Treasury Secretary Scott Bessent; den vuxne i Trumps rum; Soros, Carl Bildt, Mrs Thatcher och Luxonen

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