Scott Bessent

It's going to be a moving target, but could it be anywhere from $300 billion to $600 billion a year? Sure. Okay, so that's meaningful revenue. Very meaningful. But what will happen with tariffs over time, the ultimate goal of the tariffs, and the president says it all the time, bring your factory here. That's the best solution toward getting away from a tariff wall.

It's going to be a moving target, but could it be anywhere from $300 billion to $600 billion a year? Sure. Okay, so that's meaningful revenue. Very meaningful. But what will happen with tariffs over time, the ultimate goal of the tariffs, and the president says it all the time, bring your factory here. That's the best solution toward getting away from a tariff wall.

It's going to be a moving target, but could it be anywhere from $300 billion to $600 billion a year? Sure. Okay, so that's meaningful revenue. Very meaningful. But what will happen with tariffs over time, the ultimate goal of the tariffs, and the president says it all the time, bring your factory here. That's the best solution toward getting away from a tariff wall.

So move your factory from China, from Mexico, from Vietnam, bring it here. So what will happen over time, we'll have substantial tariff income in the beginning. Manufacturers will build their factory here, the tariffs will drop, but the revenue from the factories, from income taxes, from all the new jobs will go up. So we'll be taking it in domestically as the tariffs drop.

So move your factory from China, from Mexico, from Vietnam, bring it here. So what will happen over time, we'll have substantial tariff income in the beginning. Manufacturers will build their factory here, the tariffs will drop, but the revenue from the factories, from income taxes, from all the new jobs will go up. So we'll be taking it in domestically as the tariffs drop.

So move your factory from China, from Mexico, from Vietnam, bring it here. So what will happen over time, we'll have substantial tariff income in the beginning. Manufacturers will build their factory here, the tariffs will drop, but the revenue from the factories, from income taxes, from all the new jobs will go up. So we'll be taking it in domestically as the tariffs drop.

And why are the tariffs dropping? Because we're making it here and our trade deficit's dropping.

And why are the tariffs dropping? Because we're making it here and our trade deficit's dropping.

And why are the tariffs dropping? Because we're making it here and our trade deficit's dropping.

I think we do. I think with AI, with automation, with so many of these factories are going to be new, they're going to be smart factories, that I think we've got all the labor force we need.

I think we do. I think with AI, with automation, with so many of these factories are going to be new, they're going to be smart factories, that I think we've got all the labor force we need.

I think we do. I think with AI, with automation, with so many of these factories are going to be new, they're going to be smart factories, that I think we've got all the labor force we need.

what we were doing on the other side one of the reasons you know other other than my support for president trump that i came out from behind my desk and you know i had a pretty good life and i wanted to come out and really tell people that i was worried about an impending financial calamity given the high levels of government spending that were leading to high levels of government debt

what we were doing on the other side one of the reasons you know other other than my support for president trump that i came out from behind my desk and you know i had a pretty good life and i wanted to come out and really tell people that i was worried about an impending financial calamity given the high levels of government spending that were leading to high levels of government debt

what we were doing on the other side one of the reasons you know other other than my support for president trump that i came out from behind my desk and you know i had a pretty good life and i wanted to come out and really tell people that i was worried about an impending financial calamity given the high levels of government spending that were leading to high levels of government debt

So what we are doing, on one side, the president is reordering trade. On the other side, we are shedding excess labor in the federal government and bringing down federal borrowings. And then on the other side, that will give us the labor that we need for the new manufacturing industry. and we're going to relever the private sector.

So what we are doing, on one side, the president is reordering trade. On the other side, we are shedding excess labor in the federal government and bringing down federal borrowings. And then on the other side, that will give us the labor that we need for the new manufacturing industry. and we're going to relever the private sector.

So what we are doing, on one side, the president is reordering trade. On the other side, we are shedding excess labor in the federal government and bringing down federal borrowings. And then on the other side, that will give us the labor that we need for the new manufacturing industry. and we're going to relever the private sector.

So the private sector, in essence, has been in recession during the Biden years. And this is an opportunity to right-size the federal government and unleash the private sector again, because it's been hemmed down by excessive regulation, and it's been crowded out by the government.

So the private sector, in essence, has been in recession during the Biden years. And this is an opportunity to right-size the federal government and unleash the private sector again, because it's been hemmed down by excessive regulation, and it's been crowded out by the government.