Bessent: Trump’s Tariff Threats Are Not A “Big Deal”

“Look, I was with the Business Roundtable yesterday. I think it was 100, 135 CEOs. And, you know, I talked to them about our plan, which includes tariffs, deregulation and what I call reprivatizing the government and bringing down this incredible bubble of government spending.

“And you know what? One or two items were with one trading bloc. I’m not sure why that’s a big deal for the markets, Look, that’s the nature of these reciprocal tariffs that all President Trump is asking is for countries to take theirs off.

“So we have identified some strategic industries that still own them, likely autos, but everything else is up for grabs. And that’s going to be a decision that’s made by our trading partners.” – Treasury Sec. Scott Bessent, speaking to MSNBC.

Bessent downplays Trump’s new threat of 200% tariffs on European booze: “One or two items with one trading bloc — I’m not sure why that’s a big deal for the markets.”

(Note that the CNBC host doesn’t buy it.)

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— Aaron Rupar (@atrupar.com) March 13, 2025 at 10:11 AM