by Scott Bessent at Wall Street Journal
His tariffs, tax cuts and deregulation efforts make up a coherent strategy to benefit Main Street.
Readers of this paper know better than anyone: Wall Street has experienced historic success over the last four decades. Since 1980, the S&P 500 has increased more than 5,500%. Our capital markets are the envy of the world, and President Trump intends to strengthen them further.
The president recognizes the critical role Wall Street plays in financing the American dream. But it’s Main Street’s turn to share in the prosperity. This is the guiding ethos of his bold economic agenda.
He wants to ensure working families aren’t left behind in the next era of economic growth—as many were in the last. In the first 100 days of his presidency, we have laid the groundwork to rebalance global trade, restore America’s industrial base, and build an economy that allows Wall Street and Main Street to rise together.
To understand the urgency of this economic rebalancing, it’s critical to understand why it is necessary in the first place. The early 2000s represented the high-water mark of neoliberalism—the “end of history” in which despotism would give way to democracy and free trade.
Not coincidentally,…
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