Scott Bessent on Trump Accounts, China Risk and the Fight to Stabilize the Economy

- Treasury Secretary Scott Bessent says tax, trade, energy and regulatory certainty are helping stabilize the U.S. economy, while arguing that inflation expectations remain contained despite higher energy prices.

- Bessent says economic security and national security are now inseparable, with Treasury spending major time on China, Iran, supply chains and critical industries.

- He says the administration is preparing a new fiscal consolidation plan aimed at reducing deficits and bending the debt curve through spending restraint and stronger economic growth.

- Bessent details efforts to reduce U.S. dependence on China for semiconductors, critical minerals and pharmaceuticals, including reshoring production and using tariffs as leverage.

- On Iran, Bessent says the strategy has shifted from “maximum pressure” to an “absolute isolation campaign,” with oil exports, travel routes and financial assets increasingly targeted.

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