Treasury Secretary Scott Bessent responded Sunday to a new Washington Post/ABC News poll showing President Donald Trump’s economic approval ratings underwater, arguing that Americans' actual spending habits tell a different story than the surveys suggest.
Speaking with ABC’s "This Week" host Martha Raddatz, Bessent emphasized his experience with data analysis over the past 35 years, saying, "We've probably got to dig deeper into those numbers." He continued, "What I do know is Americans are acting differently than the polls indicate. While surveys may suggest dissatisfaction, consumer spending remains strong. I prefer to trust the behavior of Americans over how they respond to pollsters."
The poll showed just 39% of adults approving of Trump’s handling of his job, while 55% disapproved — including 44% who said they strongly disapprove.
Bessent expressed skepticism over the recent spate of negative economic reports, noting inconsistencies in media narratives. "There was a story 10 days ago calling this the worst April for the stock market since the Great Depression," he pointed out. "But now, just 10 days later, the Nasdaq is up — and I haven’t seen a headline declaring the biggest rebound ever."
The treasury secretary also touched on Trump's recent Time magazine interview, in which the president mentioned making 200 deals on tariffs. Bessent clarified that Trump was likely referring to sub-agreements within broader trade negotiations. "Among 180 countries, there are 18 major trading partners," Bessent explained. "Setting China aside due to its unique situation, there are 17 significant partners, and we have a structured process over the next 90 days to negotiate with them."
Bessent defended Trump's shifting approach on tariffs, describing it as an application of "strategic uncertainty" from game theory. "You don't show your hand to the other side during negotiations," he said. "No one is better at building leverage than President Trump. He has shown the potential severity of tariffs — the stick — while offering the carrot: remove your tariffs, dismantle non-tariff barriers, end currency manipulation, and stop subsidizing labor and capital, and then we can talk."
0 Comments