(6 Mar 2025)
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RESTRICTION SUMMARY:
++BEGINS AND ENDS ON SOUNDBITE++
ASSOCIATED PRESS
New York – 6 March 2025
1. SOUNDBITE (English) Scott Bessent, U.S. Treasury Secretary:
"As I said, that the economic program is a whole government holistic program, and I think that if we could get a one time price adjustment, but we’ve also gotten that, barring the moves yesterday and today in government bonds because of the European bond blowout, the Japanese bond blowout, we have tier interest rates are lower, mortgage rates are lower since President Trump won and came into office. And as of last night, crude prices are down 15%. So across the continuum, I’m not worried about inflation."
++ENDS ON SOUNDBITE++
STORYLINE:
U.S. Treasury Secretary Scott Bessent says he is not worried about inflation stemming from a trade war with Canada and Mexico.
Speaking at the Economic Club of New York on Thursday, Bessent appeared to double down on Trump’s warning that the enactment of new tariffs may cause disruptions.
Trump earlier this week implemented 25 percent tariffs on Canada and Mexico. He has since offered reprieves to the auto industry and most Mexican products, but the White House says he still plans to move ahead with “reciprocal” tariffs on imports.
AP video shot by Ted Shaffrey
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