Reported 1 day ago
U.S. Treasury Secretary Scott Bessent emphasized that President Trump's tariff initiatives are primarily focused on revitalizing American manufacturing, particularly in sectors like medical supplies and shipbuilding. He explained that while tariffs are also being used to influence non-trade issues with other countries like Colombia, Mexico, and Canada, the overarching goal is to restore the manufacturing base in the U.S., which would ultimately lower tariff revenues as corporate tax income rises. Bessent is expected to play a significant role in Trump's trade team alongside other key nominees.
Source: YAHOO