According to a snippet from the Fox Business interview recorded on Thursday and aired on Friday, President Donald Trump stated that tariffs in the United States may increase over time but did not disclose further details.
In the interview, when asked if businesses could clearly understand his tariff plans, Trump said, “I think so, as time goes on, the terms may rise, I don’t know if this has predictability.”
On Thursday, U.S. Treasury Secretary Scott Bessent defended President Trump’s trade policy during a speech at the Economic Club of New York. He mentioned that in the long term, new tariffs would not cause inflation, and any one-time impacts are likely to be temporary.
Bessent added that President Trump believes tariffs have three major benefits: first, substantial tariff revenue can offset the U.S. fiscal deficit; second, they protect American industries and workers from global unfair practices; and third, they can serve as the third leg for Trump in negotiations.
(This article referenced Reuters’ reports)