Bessent Defends Trump Economic Plan at Milken Conference

U.S. Treasury Secretary Scott Bessent, speaking at the Milken Institute Global Conference, defended President Trump's economic agenda, which combines tariffs, tax cuts, and deregulation as mutually reinforcing strategies to attract long-term global investment. Bessent emphasized ongoing legislative efforts to make key tax cuts permanent, particularly for small businesses, and highlighted new targeted tariffs and regulatory exemptions designed to restore America's industrial base and drive innovation. He reassured investors of the resilience of U.S. financial markets and promoted the agenda as making the U.S. the top destination for global capital. Despite his assurances, skepticism persists among business leaders and economists about potential negative impacts on growth and inflation. Bessent encouraged a long-term perspective, promising broad prosperity for both Wall Street and Main Street under these policies. The administration continues to advocate for its pro-investment approach despite ongoing debate over its effectiveness.