Bessent: “Tariffs Are A One-Time Price Adjustment”

The Hill reports:

In an interview on NBC News’s “Meet the Press,” moderator Kristen Welker asked Treasury Sec. Scott Bessent about remarks from last January, when Bessent wrote, “Tariffs are inflationary.” “Have you expressed any concerns to President Trump directly that his tariff policy could be inflationary?” Welker asked. “No, what I have said are tariffs are a one-time price adjustment,” Bessent told Welker.

“So, there’s a big difference between insipid, endemic inflation within the system and consistent price level increases and a one-time adjustment,” he added. |But the other thing that we’re doing is we are raising wages for working Americans. We’re bringing down regulation. There are estimates that regulations have caused the average household about $8,000. That when we get this tax bill through, then we will make the tax levels permanent.”

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