Scott Bessent pushes gradual 2.5% universal US tariffs plan. Trump’s Treasury secretary wants levies to rise month by month in order to give businesses time to adjust.

Interesting proposal to help paper over some of the negative consequences, but it doesn’t change how anyone should feel about tariffs. Bessent seems to be stuck between his professional education and expertise, and trying to appease Trump.

Reminds me of Yellen having to go along with the OECD tax deal under Biden

You can introduce all kinds of tariffs but as long as we have a limited supply of workers (and getting smaller) we’re not able to move production to the US.