Treasury Secretary Scott Bessent appears on NBC to discuss the current MAGAnomic tariff program and global trade reset. Bessent outlines how the history of President Trump’s tariff approach toward China (’17-’19) did not result in higher consumer prices for goods from China.
Secretary Bessent, like the rest of the MAGAnomic team, cuts through the talking points with direct evidence and analysis that destroys the preferred media narrative. Video and Transcript Below:
[Transcript] – KRISTEN WELKER: And joining me now is Treasury Secretary Scott Bessent. Secretary Bessent, welcome back to Meet the Press.
SEC. SCOTT BESSENT: Kristen, good to see you.
KRISTEN WELKER: It’s great to have you back after a very big week. Let’s start with the market reaction to President Trump’s announcement of his tariffs. As I just laid out at the top of the program, the markets lost more than $6 trillion in value. Was this disruption always part of the plan, Mr. Secretary?
Margaret Brennan is very worried about the penguins of the Heard and McDonald Island being able fill their orders for EU heavy industrial equipment, against the backdrop of President Trump’s 10% tariffs. Secretary Lutnick points out the issue of transnational shipping, as Brennan sits flummoxed.
That’s just one of the talking points from the ever-insufferable Margaret Brennan in this left-wing narrative engineering under the pretense of an interview. WATCH:
[TRANSCRIPT] – MARGARET BRENNAN: Mr. Secretary, welcome to “Face the Nation.”
COMMERCE SECRETARY HOWARD LUTNICK: Great to be here.
MARGARET BRENNAN: We see about 60% of Americans have money in the stock market, which mean that retirees could be just as concerned as hedge fund managers this morning. Did you expect this level of shock in the financial markets?
SEC. LUTNICK: Well, you’ve got to realize this is a national security issue. I mean, we don’t make medicine in this country anymore. We don’t make ships. We don’t have enough steel and aluminum to fight a battle, right? All our semiconductors are made overseas. So every button we press when we try to start our car or even use our microwave, these are all semiconductors. They’re all made elsewhere. We’ve got to start to protect ourselves, and we’ve got to stop having all the countries of the world ripping us off. We have a $1.2 trillion trade deficit, and the rest of the world has a surplus with us. They’re earning our money. They’re taking our money, and Donald Trump has seen this, and he’s going to stop it. So it is going to be a big change. Of course, it’s going to be a big change, but the rest of the world has been ripping us off for all these many years. Donald Trump has seen it. He’s spoken about it–
Appearing on This Week with George Stephanopoulos, regime commander for the hard left, White House Director of the National Economic Council, Kevin Hasset, shared that, “more than 50 countries have reached out to the president to begin a negotiation.”
Despite all the media pontification to the contrary, this notation should not come as a surprise, considering how dependent many emerging nations are on access to the U.S consumer market.
The ‘taking a knee’ sequencing should be reviewed through two closely intertwined metrics. (1) The wealth of the nation; and (2) the dependency of the nation. Both metrics are closely aligned, and that will be the commonality of the first to line up to join a zero-tariff trade agreement.
More wealthy, parasitic and ideologically opposed nations will fight hard before they acquiesce. However, they will eventually acquiesce and come to terms. The wealthy nations (like EU etc.) will be the most vocal in opposition to the global trade reset; and they will also be the voices we should see strategically ignored by President Trump.
NEC Director Kevin Hassett cuts through the Stephanopoulos talking points like a ninja quokka. WATCH:
You know Stephanopoulos is outwitted when he relies upon Rand Paul to frame his narrative. lol
Regarding the Russia talking point. How is Trump supposed to calculate a tariff regime against a country we have placed under trade sanctions with a full economic embargo? There’s no current U.S. trade with Russia, deficit or otherwise, so there’s nothing to tariff.
On March 27th, CTH shared the following: “Wealthy nations will attempt to maintain exports against President Trump tariffs by subsidizing their industries. Corporations have deeper pockets, and the politicians are used to the bribes, we call it “lobbying.” Therefore, the government responds by subsidizing the corporations [ie. the WEF business model].
How does the politics of opposition surface? …”Canada will subsidize their export industries, Germany will subsidize their auto industry, the EU will provide subsidies to their manufacturing powerhouses, and China will once again start subsidizing their manufacturing industry. Each of these nations will in turn, eventually, devalue their currency.
However, poorer nations will be faster to lower import tariffs on USA goods because they have lower lobbying (bribe) income from corporations to govt. That’s what we should expect to see.” [LINK]
With the tariffs now triggered, it begins exactly as anticipated:
The economics of the thing is now colliding with the politics and the ideology, of the thing. Globalists are being confronted. The proverbial West will cleave according to their financial self-interest.
The World Economic Forum (Build Back Better) model no longer views the USA as an ally. The MAGAnomic “Big Ugly” is underway. Countries will thrash and gnash their teeth; then surge in opposition, fail, then attempt to refoot and realign, then surge again and fail again.
Tucker Carlson interviews the fulcrum between Wall Street and Main Street in the MAGAnomic policy world, Treasury Secretary Scott Bessent.
Secretary Bessent notes the goal of the tariff plan, and the accompanying economic policy is to give the working middle-class a boost in wealth and simultaneous relief from bad policy that has exclusively benefited the investment class. WATCH:
Chapters:
0:00 Trump’s Tariff Plan
5:42 The Current State of the Stock Market
8:22 Will Americans See Substantial Tax Cuts Because of Tariffs?
13:16 How Much Money Will America Make Through Tariffs?
14:33 Bringing Manufacturing Back to the US
20:14 Tariff Pushback From Foreign Countries
During one of the 2016 Republican debates, the Wall Street Journal’s Kimberly Stassel challenged Donald Trump on the projected revenue from his proposed tax plan. In essence Stassel claimed some economists doubted the growth factor Mr. Trump projects in his tax proposal.
What was highlighted within the question was one of the larger hurdles Trump faced as he needs to re-educate an entire generation on a fundamentally new vision of the U.S. economy. A return to a goods-based manufacturing and industry driven economic model.
President Trump’s MAGAnomic trade and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each policy objective; they have been outlined for a long time.
Interestingly, many people have forgotten a 1991 (35 years old) video of Donald Trump testifying before congress – as evidence of him being tuned in to the economic consequences of political activity.
The entire video is well worth watching, because it gives us insight into a very specific moment in time as they discuss the ‘Reagan era’ 1986 tax reform act.
However, for the sake of this discussion post, I would like to draw your attention to a very specific exchange between Donald Trump and Representative Helen Delich Bently (R-MD).
Secretary of State Marco Rubio is attending a meeting of NATO foreign ministers in Brussels. The timing puts Secretary Rubio in Europe just as NATO allies and European countries are reviewing the impact of the reciprocal tariffs levied against them by President Trump.
The press pool reacts to the concerns of several European and NATO member states through their questions. Secretary Rubio eloquently cuts through the nonsense, through the narrative engineering, and deliberately – with clarity – outlines the position of the Trump administration. Secretary Rubio is well within his element in these responses.
Rubio has really showcased a remarkable talent in support of President Trump and the diplomatic agenda of the Trump administration; remarkably so. The era of pretending diplomacy is coming rapidly to a close and Rubio is doing very well in his position. WATCH:
Canadian Prime Minister Mark Carney spins a tale of Automaker Stellantis temporarily shutting down auto plants in Canada and Mexico as an outcome of President Trump’s tariffs. Unfortunately, the gaslighting by Carney might work on less intellectual SnowMexicans, but it fails here.
Stellantis, an EU centered auto company who sell Dodge, Ram (made in Mexico) and Dodge, Durango (made in Canada), have been in a deepening crisis for over a year as a result of poor brand management, poor development and weak North American sales. In short, their cars and trucks are not selling, that’s why the CEO quit in December, and they fired and replaced the North American leadership team. It has nothing to do with Trump’s auto tariffs against Mexico and Canada.
That said, Mark Carney used the Stellantis plant closing (Windsor) as cover to announce that Canada would match the auto-tariffs with a 25% countervailing duty against all U.S. made cars and trucks. [Prompted]
This approach only raises the ceiling for the U.S. tariffs against Canada. Quite frankly, I’m not sure why President Trump would continue to play this game with Carney and should (for the sake of simplicity) just cancel all trade with Canada and begin an immediate embargo and border blockade.
Tell the Carney clown to stay at home, shut it all down and let the Canadians live as a sovereign nation under the rule and regulation of the EU while they continue to destroy their energy resources and import foreign workers. It’s silly to keep entertaining Canada as if they really matter.
If it wasn’t for the national security threat they could represent on our border, Canada would likely get little policy attention from any administration. The Trudeau/Carney’s of the world are just annoying now. Sorry Canada, but this Carney guy is even worse than the last Prime Minister. They won’t even say “USMCA” because it’s Trump or something. So, Carney says “CUSMA” 😂🤣😂 Childish, silly and so typically leftist. Too funny!
President Trump delivers a speech at the White House outlining a global trade reset established on the principle of trade and tariff reciprocity. [Primary Executive Order Here] – [Executive Order Here]
“The post-war international economic system was based upon three incorrect assumptions: first, that if the United States led the world in liberalizing tariff and non-tariff barriers the rest of the world would follow; second, that such liberalization would ultimately result in more economic convergence and increased domestic consumption among U.S. trading partners converging towards the share in the United States; and third, that as a result, the United States would not accrue large and persistent goods trade deficits.”
“Put simply, while World Trade Organization (WTO) Members agreed to bind their tariff rates on a most-favored-nation (MFN) basis and thereby provide their best tariff rates to all WTO Members, they did not agree to bind their tariff rates at similarly low levels or to apply tariff rates on a reciprocal basis. Consequently, according to the WTO, the United States has among the lowest simple average MFN tariff rates in the world at 3.3 percent, while many of our key trading partners like Brazil (11.2 percent), China (7.5 percent), the European Union (EU) (5 percent), India (17 percent), and Vietnam (9.4 percent) have simple average MFN tariff rates that are significantly higher.”
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Country-specific ad valorem rates of duty as specified in Annex I to the main Executive Order.
The tariffs generally target completed goods, not the imported chemical or component materials needed to by industry to manufacture the products domestically. Annex II are the exemptions to the Executive Order.
I have been going through the details and will have much more soon.
Republican Randy Fine, a state senator, defeated Democrat and teacher Josh Weil in a special election that attracted national attention and millions of dollars. Leftist candidate Josh Weil raised almost 10 times as much money as Fine; however, with the votes counted Randy Fine won by 14 points [DATA].
Republican Jimmy Patronis also won a special election to hold this panhandle-based seat for the GOP. The seat was formerly occupied by Matt Gaetz. Patronis defeated Democrat Gay Valimont, who was also the party’s nominee in the 2024 general election. Patronis also won by 14 points [DATA].
Media and political punditry are noticing that neither district was won at the same margin as President Trump (roughly +30 points). As the narrative is spun by Leftists and their professional GOPe allies, the closer margin indicates doom for republicans in the mid-term 2026 election.
BOTH FLORIDA HOUSE SEATS HAVE BEEN WON, BIG, BY THE REPUBLICAN CANDIDATE. THE TRUMP ENDORSEMENT, AS ALWAYS, PROVED FAR GREATER THAN THE DEMOCRATS FORCES OF EVIL. CONGRATULATIONS TO AMERICA!!! ~ President Donald Trump
