Bessent not concerned 'at present’ about empty shelves
NEW YORK
U.S. Treasury Secretary Scott Bessent said on April 28 he was not concerned "at present" about American stores potentially running out of items due to President Donald Trump's tariffs.
Asked during an interview with "Fox and Friends" if he was concerned about reports of empty shelves due to the tariffs, Bessent replied: "Not at present."
"We have some great retailers," he said during the Fox News interview. "I assume they pre-ordered."
"I think we'll see some elasticities. I think we'll see replacements, and then we will see how quickly the Chinese want to de-escalate,”he said.
Most countries chose not to respond to the Trump administration's new tariffs, with the exception of China, which hit back with its own targeted measures against U.S. goods.
"I think it's unsustainable from the Chinese side, so maybe they'll call me one day," Bessent said.
"In the history of trade negotiations or trade slowdowns, it is the surplus country that always loses the most," he added.
