Unveiling the Engine: Trump’s Economic Agenda's Impact on U.S. Growth

U.S. Treasury Secretary Scott Bessent argues that President Donald Trump's agenda of tariffs, tax cuts, and deregulation will drive long-term investment in the U.S. economy. Speaking at the Milken Institute Global Conference, Bessent emphasized the integrated approach of these policies to enhance innovation, job growth, and economic stability.

U.S. Treasury Secretary Scott Bessent lauded President Trump's economic strategies, highlighting their potential to drive enduring investment in America. Speaking at the Milken Institute Global Conference in Los Angeles, Bessent articulated that the combination of tariffs, tax reductions, and deregulation plays a crucial role in boosting the financial market.

Bessent asserted the interconnected nature of Trump's tariffs and tax cuts, which encourage companies to invest domestically by promising regulatory and tax benefits. He detailed how innovations in high-tech operations and new factory constructions could benefit from Trump's tax policies.

Bessent projected a near 3% growth in U.S. economic output, while stressing the importance of deficit reduction. He posited that mitigating credit risk on U.S. Treasury debt could lower interest rates. According to Bessent, the resilience of U.S. financial markets is testament to their capacity to overcome economic adversity.

(With inputs from agencies.)