Scott Bessent: ‘We're reordering the global economy’ | The Conversation

Treasury Secretary Scott Bessent discusses the reordering of the global economy under President Trump, emphasizing fair trade and the return of investment and manufacturing to the U.S. Bessent addresses the administration's approach to tariffs, viewing them as tools for rebalancing trade and national security, citing successes in India and planned visits between President Trump and Party Chair Xi to strengthen the U.S.-China economic relationship. He defends the use of emergency powers to prevent national emergencies, particularly concerning rare earth magnets and semiconductors, and anticipates a strong economic year in 2026 due to the administration's policies. Bessent also touches on reforming the Fed and the importance of its independence.