Treasury Secretary Scott Bessent recently addressed comments made by former President Donald Trump during a Cabinet meeting, where Trump mentioned that tariffs might lead to children having fewer toys. Specifically, Trump remarked that “maybe the children will have two dolls instead of 30 dolls,” in reference to the implications of his administration’s trade policies.
In an interview on Fox News, Bessent clarified Trump’s statement by emphasizing the long-term benefits of these policies. He stated that in response to a reporter’s question about what to say to children who might have fewer toys due to tariffs, he would convey a message of hope. Bessent asserted that children today can look forward to a better future, saying, “I would tell that young girl that you will have a better life than your parents. That you and your family, thanks to President Trump, can now be confident again that you will have a better life than your parents, which working-class Americans had abandoned that idea.”
This perspective aims to reassure families that the sacrifices made in the short term should lead to greater economic stability and growth in the long run. It’s an attempt to pivot the discussion from immediate consumer goods to the broader economic implications of such policies, focusing on the aspirations of working-class Americans.
While the dialogue around tariffs and their impact on everyday life continues to be contentious, Bessent’s comments reflect a belief in the potential for recovery and improvement in the lives of American families, suggesting that the long-term gains will outweigh the current challenges.