tariffs

U.S. Treasury Secretary Scott Bessent laid out a confident vision for America’s economic future, insisting that the United States is not heading for a recession. On the contrary, he believes the country is approaching a period of strong, stable and non-inflationary growth set to accelerate in 2026. The foundation of this outlook, according to Bessent, is President Donald Trump’s economic and political strategy ranging from new tariffs to major domestic legislation.
Bessent made these comments during an interview on NBC News’ “Meet the Press,” offering an economic narrative that has sparked both interest and debate.

Trump’s “One Big, Beautiful Bill” Is Supposed to Shift Momentum
Bessent emphasized that the administration’s policies are only now beginning to show tangible effects across the economy. He highlighted new tariffs, updated trade agreements, domestic legislative changes and diplomatic initiatives designed to stabilize the international environment. According to him, these combined measures form the backbone of a policy framework that will ease price pressures, support production and encourage investment. He described the year 2025 as a transition period, while 2026 is expected to bring a clear economic turnaround.
He also hinted that the administration will soon release new details regarding healthcare costs, which he identified as one of the largest components influencing Americans’ day-to-day economic pressure.
These statements come at a moment when an NBC News poll shows that roughly two-thirds of registered voters believe the administration has failed in handling economic performance and the cost of living.

Optimism Meets Reality: Housing and Rate-Sensitive Sectors Under Strain
Although Bessent rejected the idea of a 2026 recession, he acknowledged that specific areas of the economy remain under significant pressure. The housing market is struggling under the weight of high interest rates, and other rate-dependent sectors are experiencing similar stress. He agreed with previous comments from National Economic Council Director Kevin Hassett, who recently stated that parts of the U.S. economy have already slipped into recessionary territory.
In a separate interview on Fox News, Hassett predicted a strong year ahead, driven largely by expanding U.S. manufacturing capacity and newly constructed facilities expected to generate job growth as they begin operations.

Bessent Urges the Senate to End Filibuster Tactics Amid Shutdown Tensions
The Treasury Secretary also addressed the political turmoil surrounding the recent government shutdown. Writing in an opinion piece for The Washington Post, he urged Senate Republicans to reconsider the filibuster if Democrats trigger another shutdown. Bessent argued that the closure of federal agencies dealt a measurable blow to the nation’s GDP and claimed that Senate Democrats were obstructing the administration’s economic agenda.
When asked whether the Trump administration had issued unlawful orders, Bessent avoided a direct answer. However, he criticized a video posted by former intelligence and military officials urging government employees to ignore illegal commands.

Bessent Supports U.S. Peace Proposal for Ukraine but Criticizes Europe’s Sanctions Strategy
Bessent also commented on ongoing diplomatic efforts to end the war between Russia and Ukraine. He expressed support for the U.S. administration’s 28-point peace proposal, even though the plan has raised concerns among Ukrainian leaders, European officials and several members of Congress who fear it may disadvantage Ukraine.
According to Bessent, the final decision lies with Ukrainian leaders, who he says recognize that the administration’s goal is to reach a negotiated peace. He criticized European leaders for their repeated attempts to impose new sanctions on Russia, arguing that repeatedly striking the same target is a sign of policy failure.
He contrasted Europe’s approach with U.S. efforts focused on restricting Russian oil flows through India, which he described as far more effective. Regarding the timeline for a potential peace agreement, Bessent said he had not discussed any specific schedule with the president and did not confirm speculation about a deal being reached by Thanksgiving.

#TRUMP , #ScottBessent , #Tariffs , #economy , #usa

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