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U.S. Treasury Secretary Bessent Backs Trump's Tariff Impact

10/26/2025

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Story summary

U.S. Treasury Secretary Scott Bessent defended President Donald Trump's tariff policies, noting a 20% increase in the S&P 500 since the April announcement of "Liberation Day" tariffs.
Bessent attributed positive economic trends to Trump's tax reforms, despite concerns about potential government shutdowns.
During U.S.-China trade talks in Madrid, Bessent recognized the difficulties faced by American soybean farmers due to China's halt on U.S. soybean purchases.
He expressed hope that recent negotiations could help address these issues.

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Story summary

U.S. Treasury Secretary Scott Bessent defended President Donald Trump's tariff policies, noting a 20% increase in the S&P 500 since the April announcement of "Liberation Day" tariffs.
Bessent attributed positive economic trends to Trump's tax reforms, despite concerns about potential government shutdowns.
During U.S.-China trade talks in Madrid, Bessent recognized the difficulties faced by American soybean farmers due to China's halt on U.S. soybean purchases.
He expressed hope that recent negotiations could help address these issues.