Amazingly, some experts and policymakers believe in the efficiency of Donald Trump's economic strategy. According to Scott Bessent, the US Secretary of the Treasury, Trump’s current economic agenda, including tariffs, tax perks, and deregulation, constitutes "a comprehensive strategy to stimulate long-term investment in the American economy." Previously, the policymaker noted that a distinctive feature of US financial markets is their resilience, "which allows them to withstand any short-term volatility."
Surprisingly, in his statement at the Milken Institute Global Conference in Los Angeles, Bessent strongly defended Trump's tariffs. At the same time, the official emphasized the importance of the Republican tax bill currently under consideration by the US Congress. In Bessent’s view, this bill would solidify many of the tax cut elements from Trump’s first term, including a tax deduction for small businesses.
The Treasury Secretary points out that the key elements of the US president’s economic agenda, namely trade, tax incentives, and deregulation, do not exist separately. They are interconnected components of a unified mechanism aimed at stimulating long-term investment in the American economy, Bessent concluded.
