by Sundance at The Conservative Treehouse
Appearing on CNBC to explain the big picture economics, Treasury Secretary Scott Bessent outlines how debt and deficit hawks are seemingly blind to the need for GDP growth to deal with federal spending.
From the outset of President Trump’s MAGAnomic policies in his T-1 and T-2 platform, growing the U.S. economy, expanding the size of the GDP is a key facet to dealing with debt and deficits. President Trump has always promoted economic policy that expands the size of the pie rather than focus on making smaller portions of each spending slice.
Secretary Bessent also explains the current status of the tariffs as delivered by the Trump administration. The next few days are exceptionally busy with incoming requests to renegotiate trade terms, and avoid countervailing duties.
WATCH:
Big picture: Trump, Lutnick and Greer are now transmitting 1. Baseline tariffs (10-20%), 2. Reciprocity tariffs (trade imbalance) and 3. Section 232 tariffs (ex. Steel and Aluminum). Countries are notified and their tariff rate begins on August 1st.
Continue Reading