US Reboots Tariff Program
Treasury Secretary Scott Bessent defends the administration's aggressive trade policies and unveils a '3 through 3' economic blueprint to sustain high GDP growth while neutralizing structural inflation
” Deconstructing critics’ claims that import penalties harm American consumers, Bessent argued that persistent price pressures are rooted in domestic services rather than the government’s newly revived global trade barriers. The Tariff Reboot And Service-Sector Inflation Speaking in a wide-ranging interview on CNBC, Bessent dismissed warnings that defensive economic measures spike consumer costs. “People like to say that it’s added to inflation, but when you look at the data, the structural inflation has been in services,” Bessent clarified, noting that service-sector dynamics are entirely insulated from global import markets.
” The current framework utilizes Section 122 tariffs to establish a temporary 10% global baseline while the administration awaits the completion of deeper Section 301 supply chain studies. ” He noted that using this economic leverage has already successfully pressured global allies to lower non-tariff barriers and rewrite trade rules in America’s favor. Read Also: Scott Bessent Says Iran Gets Both Carrots And Sticks: What Do Prediction Markets Say Works Better?
Inside The ‘3 Through 3’ Economic Blueprint To anchor long-term fiscal health, Bessent outlined his signature “3 through 3” economic framework, a triple-pronged strategy to foster macroeconomic growth without triggering localized inflation. The plan relies on maintaining a robust 3% GDP growth rate, expanding energy production by an equivalent of 3 million more barrels of oil and gas per day, and slashing the national deficit to 3% of GDP. Bessent pointed out that the deficit has dropped significantly under recent spending contractions. S.
will successfully begin “paying down overall debt as a percent of the economy,” paving the way for a highly productive, non-inflationary future. How Have Markets Performed In 2026? 29% year-to-date. 16% YTD.
The SPDR S&P 500 ETF Trust (NYSE: SPY ) and Invesco QQQ Trust ETF (NASDAQ: QQQ ), which track the S&P 500 and Nasdaq 100, respectively, closed lower on Wednesday. 62. 37% higher on Wednesday. Read Also: Bessent Reportedly Warned Trump Against Hosting Zelenskyy Before Explosive White House Meeting: 'Mr Bean On Crack' Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.
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