(6 Mar 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
New York – 6 March 2025
++BEGINS ON SOUNDBITE++
1. SOUNDBITE (English) Scott Bessent, U.S. Treasury Secretary:
“Access to cheap goods is not the essence of the American dream. The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this. International economic relations that do not work for the American people must be reexamined. This is what tariffs are designed to address – leveling the playing field such that the international trading system begins to reward ingenuity, security, rule of law, and stability – not wage suppression, currency manipulation, intellectual property theft, non-tariff barriers, and draconian regulations. To the extent that another c ountry’s practices harm our own economy and people, the United States will respond. This is the America First Trade Policy.”
++ENDS ON SOUNDBITE++
STORYLINE:
Defending President Trump’s tariffs, Treasury Secretary Scott Bessent said Thursday that “access to cheap goods is not the essence of the American dream.”
This comes as Trump on Thursday postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war.
The White House insists its tariffs are about stopping the smuggling of fentanyl, but the taxes proposed by Trump have caused a gaping wound in the decades-old North American trade partnership, and Canada has felt compelled to quickly take aggressive countermeasures. Trump’s tariff plans have also caused the stock market to sink and alarmed U.S. consumers.
In addition to his claims about fentanyl, Trump has insisted that the tariffs could be resolved by fixing the trade deficit and he emphasized while speaking in the Oval Office that he still plans to impose “reciprocal” tariffs starting on April 2.
Trump this week also announced he planned to further increase his tariffs on Chinese imports.
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AP video shot by Ted Shaffrey
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