Scott Bessent acknowledged that the "billions" in tariffs the president says are flowing "into" the U.S. are footed by importers, who can pass the cost onto consumers

Bessent based his assumption that there’s a written and signed agreement on the trade deals reached with Indonesia and the Philippines. Notably, Indonesia contests some of Trump’s claims about its deal, and details about the Philippines deal remain scant beyond Trump’s Truth Social posts.

President Donald Trump has narrowed down his list of potential candidates to lead the Federal Reserve to four people