Treasury Secretary Scott Bessent told bankers on Wednesday morning — as markets responded poorly to President Donald Trump’s steep new tariffs — that the economy is just fine.
“There is a little uncertainty,” Bessent said during his appearance at the American Bankers Association’s 2025 summit. “But in general, the companies that I’ve spoken to, the people who have come, the CEOs who have come into Treasury, tell me the economy is very solid. We got very good jobs numbers last Friday. I think that we are in pretty good shape.”
Bessent also leaned into the possibility of striking new trade deals with other countries. He said the tariff levels Trump announced last week are “a ceiling,” if countries choose not to retaliate.