Treasury Chief Bessent: Trump’s Tax Bill Talks Progressing/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Treasury Secretary Scott Bessent struck an optimistic tone about GOP tax negotiations, crediting Trump’s leadership. Meanwhile, the White House lashed out at Amazon for plans to display tariff impacts on prices, calling it “hostile.” Bessent also revealed the administration is close to securing a new trade deal with India.
Trump’s Economic Push: Quick Looks
- Bessent says GOP tax bill talks “better than expected.”
- Tax plan would codify 2017 cuts, offer working-class benefits.
- Bessent says market uncertainty is good for Trump negotiating trade deals.
- White House slams Amazon for “political” tariff price listings.
- Bessent hints U.S. close to announcing India trade deal.
- No confirmation on direct China trade talks amid tariff battle.
- Retailers brace for impacts, but Bessent predicts no major shocks.
Treasury Chief Bessent: Trump’s Tax Bill Talks Progressing
Deep Look
Bessent: Trump’s Tax Agenda Advancing Amid Rising Trade Tensions
WASHINGTON — Treasury Secretary Scott Bessent expressed strong optimism Tuesday, telling reporters that negotiations on President Donald Trump’s long-promised GOP tax bill are “going much better than I would’ve thought when I took office on January 28th.”
Bessent praised Trump’s leadership for bringing House and Senate Republicans into alignment. “The tax bill is moving forward,” he said after meetings with lawmakers, adding it will make the 2017 tax cuts permanent and expand relief for working Americans — including no taxes on tips, overtime, and Social Security payments.
House Speaker Mike Johnson echoed that enthusiasm, promising the bill would provide a “turbo boost for the economy.”
Treasury secretary says market uncertainty is good for Trump negotiating trade deals
“President Trump creates what I would call strategic uncertainty in the negotiations,” he told reporters at the White House.
“I think the aperture of uncertainty will be narrowing and, as we start moving forward announcing deals, then there will be certainty,” Bessent said. “But certainty is not necessarily a good thing in negotiating.”
To those with questions about the market uncertainty, Leavitt added: “I would say, trust in President Trump.”
White House Targets Amazon Over Tariff Transparency
The economic optimism was tempered by a brewing clash with Amazon. White House Press Secretary Karoline Leavitt slammed Amazon’s reported plan to display how tariffs impact consumer prices, calling it a “hostile and political act.”
Punchbowl News first reported Amazon’s plans to highlight the tariff costs directly on product listings. While it may increase transparency for shoppers, the White House views it as a direct challenge to Trump’s protectionist trade policies.
“This is another reason why Americans should buy American,” Leavitt said, invoking prior criticisms of Amazon’s alleged ties to Chinese propaganda arms. Amazon’s stock dipped over 1% following the White House comments.
Despite previous efforts by Amazon founder Jeff Bezos to build goodwill with Trump — including a $1 million donation to Trump’s inauguration fund — relations now appear strained.
U.S. Nears Trade Deal With India, Still Tough on China
Bessent also revealed that the Trump administration is “very close” to finalizing a new trade agreement with India, praising India’s openness compared to other nations with “high non-tariff barriers.” While no exact timeline was offered, Bessent hinted a deal could come within two weeks.
On China, however, Bessent was notably evasive. He refused to confirm whether direct trade talks were occurring but insisted China’s tariffs were “unsustainable.”
“They sell almost five times more goods to us than we sell to them,” Bessent said, emphasizing that pressure is mounting on Beijing to relent.
Trump previously claimed Chinese President Xi Jinping called him after the latest tariff escalation, though he later avoided confirming any direct communication.
Bessent, deflecting questions about ongoing talks, quipped: “Karoline and I have a lot of jobs around the White House — running the switchboard isn’t one of them.”
Despite concerns from major retailers about potential supply chain disruptions, Bessent downplayed the risks, saying businesses were prepared and that Trump’s commitment to “fair trade” had been factored into their strategies.
You must Register or Login to post a comment.