NEW YORK, NY — At Thursday’s New York Economic Club, Treasury Secretary Scott Bessent took center stage for a lively conversation with Larry Kudlow. The talk came just two days after President Trump’s bold address at the Joint Meeting of Congress on Tuesday, where he laid out his vision for America’s economic future. Trump’s administration, especially under the leadership of Bessent, has been pushing an aggressive agenda aimed at cutting red tape and boosting the economy.
WATCH:
As the nation grapples with rising regulatory costs from being under the former Biden administration, Bessent had a sharp response when asked about Trump’s speech. On Wednesday he made it clear during an appearance on Sean Hannity’s Fox News program saying: “President Trump has a plan. Last night he made it loud and clear. We are going to re-privatize the economy, reinvigorate the private sector, and shrink the government sector.”
The treasury secretary emphasized that the goal was not just economic growth but revitalizing America’s foundational strengths—free markets and limited government interference.
Miranda Devine, a reporter for The New York Post, quoted Bessent at the Thursday event, posting on social media: “America First…serves the goal of improving the life of every American. Taxation policy undergirds everything, deregulation, tariffs to reorient international economic relations. Economic security & national security are inseparable.” Bessent’s words painted a picture of an America moving toward a more self-reliant, privatized economy, one where the government takes a step back and allows the private sector to thrive.
Bessent’s Thursday remarks were especially significant given the broader context of Trump’s economic vision. Bessent’s appearance at the Economic Club comes on the same day a White House statement revealing that President Trump’s deregulatory push has saved American families $2,100 each. The White House’s numbers show that by halting Biden-era regulations, Trump has already saved $180 billion, starkly contrasting the $1.8 trillion in new regulatory costs introduced by the former Biden administration.
See our coverage of Thursday’s White House press release:
Bessent, speaking alongside Kudlow, echoed Trump’s message that the current regulatory landscape is a major roadblock to American prosperity. “We have to roll back these regulations. They’re not just costing businesses, they’re costing families. From energy to healthcare, we need a government that enables success, not stifles it,” Bessent said.
Kudlow, a staunch advocate for deregulation, nodded in agreement, noting that Trump’s aggressive cuts to red tape are exactly what the economy needs to recover from the mess created over the past few years.
The conversation also touched on the broader global economic environment, with Bessent emphasizing the need to protect American interests in international trade. “Tariffs are part of the strategy. We need to reorient our economic relationships and make sure that America comes first,” Bessent stated.
In a direct response to ongoing struggles with global competition and economic instability, Bessent noted that economic security and national security are inextricably linked. “The world is changing, and we must change with it. Our focus must be on securing the future for every American,” Bessent said.
Thursday’s event at the New York Economic Club highlighted just how committed the Trump administration is to economic revival. Bessent’s remarks served as a powerful reminder that deregulation, privatization, and tax policy are the pillars of the plan to put America back on the path to prosperity. With a clear vision for the future, it seems President Trump and his team are ready to deliver on their promises, despite the challenges that lie ahead.
Bessent’s endorsement of Trump’s economic policies at this critical juncture solidifies the message: America First is not just a slogan—it’s a call to action.