Scott Bessent: Tariffs, Trade and Treasury

Andrew Ross Sorkin interviews U.S. Treasury Secretary Scott Besant on DealBook, covering a wide range of economic and policy issues. The discussion begins with tariffs, exploring Besant's evolving views and the administration's stance, followed by a debate on whether tariffs contribute to inflation. The conversation shifts to the Federal Reserve, potential changes in leadership, and concerns about its independence and regulatory framework. They discuss the economy, focusing on affordability, potential weakening sectors, and the impact of capital expenditure. The interview touches on U.S.-China trade relations, Taiwan's security, and foreign investment in the U.S., including the realism of pledged amounts. The conversation also covers private credit, its potential risks, and the relationship between the business community and the Trump administration. The interview concludes with the announcement of the Trump accounts, a public-private effort to provide investment accounts for children.