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The Guardian - US
The Guardian - US
World
Callum Jones in New York

Cheap goods ‘not essence of American dream’, Trump official says amid tariff price fears

Scott Bessent Donald Trump America United States
a man looking left
Scott Bessent addresses the Economic Club of New York on Thursday. Photograph: Charly Triballeau/AFP/Getty Images

Buying cheap products is “not the essence of the American dream”, Donald Trump’s top economic official has declared, amid warnings that the US president’s trade wars risk increasing prices.

The US treasury secretary, Scott Bessent, defended the new administration’s aggressive trade strategy on Thursday, two days after it imposed sweeping tariffs on Canada and Mexico and hiked duties on China.

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