Bessent blamed “four years of disastrous policies,” for scorching inflation, claimed the current administration was working everyday to lower prices, and China would eat any tariffs.

The Atlanta Federal Reserve on Monday produced a new projection that the American economy would shrink by nearly three percent in the first quarter of President Donald Trump's second term. Specifically,

When Donald Trump started the biggest trade war since the 1930s in his first term, his impulsive combination of threats and import taxes on U.S. trading partners created chaos, generated drama -- and drew criticism from mainstream economists who favor free trade.

White House officials have said Trump is considering reducing the tariff level after some progress from Mexico and Canada on reducing illegal immigration and the flow of fentanyl into the U.S.