Treasury secretary doesn’t seem to know much about alleged tariff deals

Treasure Secretary Scott Bessent took time away from fantasizing that President Donald Trump is “economically sophisticated” to tout his boss’ supposed trade deals, many of which definitely, absolutely exist.

In a Tuesday interview with CNBC’s Eamon Javers, Bessent was asked whether he had seen any formal documentation that Trump has boasted about. Bessent could not say he had.

JAVERS: Did we get confirmation from the Vietnamese government? Do we have an agreement with them on paper?

BESSENT: I didn’t work on that deal, but I assume that we do, because we have also done Indonesia and Philippines, so I would imagine that—

JAVERS: But you haven’t seen that paperwork?

BESSENT: But I don’t—that’s—Ambassador [Jamieson] Greer, who is a seasoned veteran with an encyclopedic memory and knowledge of all this, keeps all that.

Since the start of Trump’s erratic, self-defeating trade war, every deal that has come to fruition has also come with a projection of higher costs in the U.S. Whether it is the rising prescription drug costs or burdens for the U.S. auto industry, America’s economy is beginning to feel the effects of Trump’s mad-king approach.

The tariffs, along with the GOP’s law that slashes Medicaid in order to cut taxes for the rich, has them scrambling. Republican Sen. Josh Hawley of Missouri is hoping that a meager rebate check will cushion the blow of Trump’s tariffs. But like most GOP efforts, Hawley’s proposed rebate falls far short of covering the real economic pain most families are about to face.

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