Economic Policy

Among Donald Trump’s cabinet appointments, the most important for investors is the secretary of the Treasury, who will guide Trump’s economic agenda.  

Scott Bessent is well suited for the role and was considered the front-runner for the position after the election. However, he had to win a “knife fight” to get the position according to the Wall Street Journal, as he was pitted against several other candidates favored by Trump loyalists.  

Donald Trump has said he will impose new tariffs on goods entering the US from Canada, Mexico and China on his first day in office.

The US president-elect said he would sign an executive order for a 25% tariff - or tax on imports - on all goods coming from Canada and Mexico, to get both countries to crack down on illegal immigration and drug trafficking.

The most overused phrase since Donald Trump chose billionaire hedge fund manager Scott Bessent as his Treasury secretary nominee is “sigh of relief.” As the theory goes, Bessent would command respect from the markets, steering the next administration toward the usual conservative agenda of tax cuts and deregulation, and away from anything disruptive.

Rep. Russell Fry, R-S.C., praised the impact that the threat of tariffs is already having globally given that President-elect Donald Trump is nearly two months out from taking office, telling Newsmax it's "amazing" what competence in the White House does for America.

Fry joined "Carl Higbie FRONTLINE" on Tuesday to react to Trump's edict the day before that he will impose 25% tariffs on Canada and Mexico "until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!"

With the Republican House majority officially secured, Republicans will have a trifecta come January 20. They need to use their newfound power to repeal the so-called Inflation Reduction Act in its entirety.

Democrats passed the IRA without a single Republican vote through budget reconciliation. Republicans can repeal it without a single Democratic vote through budget reconciliation.

Former President Donald Trump on Tuesday was interviewed by Bloomberg at the Economic Club of Chicago, where he once again touted historic tariffs as a way to grow America’s manufacturing sector by making foreign countries foot the bill.

But, given the economy’s central importance in the 2024 race, it’s worth hammering on an Econ 101 fact: Tariffs are a tax on Americans.

Former President Donald Trump on Tuesday defended his pledge to impose stiff tariffs on imports, dismissing some economists’ concerns that his vision would plunge the nation into a trade war with China, threaten millions of American jobs, force consumers to pay more and worsen inflation.

Former President Trump clashed with the editor-in-chief of Bloomberg News during an economic forum in Chicago on Tuesday over the GOP nominee’s insistence that tariffs would not have negative consequences in a possible second term.

Bloomberg’s top editor, John Micklethwait, repeatedly pressed Trump at the Economic Club of Chicago over his plans to impose a universal tariff on imports and his threats to use tariffs on American companies that outsource their manufacturing. 

When Kamala Harris gave her campaign’s biggest economic speech yet in Pittsburgh last month, she tried to keep everyone in her party happy.

She did not succeed.