Washington D.C. - Treasury Secretary Scott Bessent has denied that the president's decision to implement a blanket pause on tariffs was influenced by recent declines in the financial markets. Speaking at a press conference on Wednesday, Secretary Bessent asserted that the tariff pause was a pre-planned component of the administration's overall economic strategy.
"The notion that this pause is a response to market fluctuations is simply incorrect," Bessent stated. "This has always been part of our strategic approach to trade negotiations. We are committed to achieving fair and reciprocal trade agreements that benefit American businesses and workers."
The Secretary highlighted the administration's commitment to long-term economic stability and growth, arguing that the tariff pause is intended to create a more predictable environment for businesses. This, he said, would encourage investment and job creation.
Bessent's comments come as the administration continues to engage in trade talks with key global partners. The tariff pause is expected to last for a specified period, allowing for further negotiations and potential breakthroughs. Analysts are closely watching the situation to assess the potential impact on the economy and financial markets.
Treasury Secretary Bessent: Tariff Pause Not Due to Market Declines
Treasury Secretary Scott Bessent refuted claims that the president's recent tariff pause was a reaction to financial market downturns. He stated that the pause was a planned element of the administration's broader economic strategy. Bessent emphasized the decision was proactive, not reactive, and designed to support long-term economic growth. The Secretary's comments aim to reassure investors amid ongoing trade negotiations.