Treasury Secretary Scott Bessent said that President Trump’s new tariff will hurt China far more than it will the US economy, and that Trump ‘goaded China into a bad position’, which was his strategy all along.

Watch below:

As you can see in the video, the stock market is rallying big time today, up over +2700 points at the time of this post. This comes after Trump’s new tariff on China went into effect last night and it wasn’t even phased by Trump’s announcement this afternoon that he’s raising China’s tariff again to 125%.

Traders clearly love that Trump is being very gracious with those 75 countries who have come to negotiate.

 
UPDATE: Bessent also said this: