Treasury Secretary Rejects Idea Recession Is Inevitable in Relation to Tariffs

Department of Treasury Secretary Scott Bessent on Sunday questioned concerns that the U.S. economy will enter a recession in the near future following President Donald Trump’s announcement that nearly every country in the world will face tariffs. Trump announced a 10 percent baseline tariff on almost every country, while other countries received higher levies based on tariffs they already levy on the United States, as well as other factors. On Thursday and Friday, major U.S. stock indexes dropped more than 5 percentage points apiece. Bessent, when asked on NBC News’ “Meet the Press” about how long Americans would have to “hang tough” amid the market shift, said, “I reject that assumption; there doesn’t have to be a recession.”...