Inflation Concerns: Tariffs Trigger Debate

Treasury Secretary Scott Bessent stated that any inflation resulting from President Trump's tariffs would likely be a one-time, slight increase. Most impacts, according to Bessent, would be absorbed by currency fluctuations and foreign producers, minimizing long-term effects on consumer prices.

Treasury Secretary Scott Bessent addressed concerns about potential inflation arising from President Donald Trump's tariff policies during an interview with Fox News on Thursday.

Bessent emphasized that while there is a possibility of prices rising, any increase is expected to be minimal due to several mitigating factors.

Bessent pointed out that currency adjustments and absorptions by foreign producers would likely cushion the impact, predicting a one-time, slight uptick in inflation.

(With inputs from agencies.)