Bessent Dismisses Inflation Fears Amid Tariff Talks

Treasury Secretary Scott Bessent sought to downplay fears about inflation risks stemming from the Trump administration's tariffs, even as Walmart warned of potential price hikes. Speaking to news outlets, Bessent described predictions of consumer price increases as a 'worst case scenario.'

Bessent revealed discussions with Walmart CEO Doug McMillon, emphasizing that the decline in gasoline prices is more crucial for shoppers, with gas prices averaging about USD 3.18 per gallon. He also countered Wall Street concerns, signifying strategic ambiguity as part of trade negotiations.

Despite facing skepticism over Trump's economic policies and growing deficits, Bessent maintained that the economy would expand faster than debt accumulation. In the ongoing tariff saga, the U.S. is still negotiating with major trading partners, with uncertainties affecting consumer and business outlooks.

(With inputs from agencies.)