US Treasury Secretary: 10% Tariff Baseline Shows Economic Strength

The United States economy has shown resilience in the face of recent tariff adjustments, according to Treasury Secretary Scott Bessent. In a recent video statement, Bessent described the current 10% tariff on other countries as a 'baseline for calibration,' indicating a measured approach to trade policy. He noted that the market and economy have had ample time to adapt to previous tariffs, and that recent economic indicators have been positive. "The market and the economy has had several years to adjust to that," Bessent stated. He also referenced the 20% fentanyl tariffs implemented in February as an example of previous adjustments. The Secretary's comments suggest a cautious optimism about the economic outlook, while acknowledging the need for ongoing monitoring and potential adjustments to tariff levels in the future. This measured approach to trade policy reflects a pragmatic strategy focused on balancing economic growth with other policy priorities.