U.S. Treasury Secretary Scott Bessen said regarding concerns about a recession caused by President Donald Trump's tariff escalation, "I don't think there's a reason to be concerned."
In an interview with NBC News on the 6th (local time), Secretary Bessen noted, "You can see that the U.S. economy is moving forward just by looking at last month's employment figures." According to the employment figures released on the 4th, the job growth trend remains strong.
Regarding the sharp decline in the U.S. stock market immediately after the mutual tariff announcement, he evaluated, "What was most impressive was that the stock market recorded historic transaction volumes on Friday (4th), and the market moved in an orderly manner." He added, "The American people can feel a great sense of stability in this regard."
When asked about market anxiety, he stated, "Short-term market reactions can happen anytime," adding, "Even when President Trump was elected in 2016, the market crashed, but afterward, he positioned himself as the most pro-corporation president in a hundred years, perhaps in U.S. history."
Secretary Bessen emphasized, "I cannot agree with the premise that a recession is certain to occur," stating, "No one knows how the market will react a day or a week from now. What we need to focus on is building a long-term economic foundation."
He remarked, "Now is a time for adjustment," stating, "Even in the past, when President Reagan dealt with inflation and overcame the Carter-era recession, there was temporary instability, but ultimately he endured the process. We will too."
When asked whether President Trump is willing to negotiate with trading partners, he said, "That's the president's decision," while assessing, "President Trump has created leverage in a way that no one has done before."
He continued, "More than 50 countries have conveyed their intentions to the U.S. government regarding relaxing trade barriers, reducing their tariffs, and stopping currency manipulation," pointing out, "They have engaged in wrongful actions for a long time, and it's not a problem that can be solved in just a few days or weeks."
Finally, Secretary Bessen stated, "We need to watch whether the proposals presented by each country are credible," adding, "We must move forward. The mistakes of the past won't easily disappear, even after 20, 30, or 40 to 50 years."