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Trump's Tariffs Unrelated to Inflation, Says Treasury Secretary

11/24/2025

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Summary

Story summary

U.S. President Donald Trump’s tariffs are not linked to rising inflation, says Treasury Secretary Scott Bessent in an NBC News interview.
Inflation rose to 3% in September, up from 2.3% in April.
Bessent says inflation is driven by the service economy, not tariffs.
The rollback of tariffs on over 200 food products aims to reduce grocery prices.
The move follows Republican losses in elections, as Democrats ran on affordability.

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Story summary

U.S. President Donald Trump’s tariffs are not linked to rising inflation, says Treasury Secretary Scott Bessent in an NBC News interview.
Inflation rose to 3% in September, up from 2.3% in April.
Bessent says inflation is driven by the service economy, not tariffs.
The rollback of tariffs on over 200 food products aims to reduce grocery prices.
The move follows Republican losses in elections, as Democrats ran on affordability.