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Treasury's Bessent on Reciprocal Tariffs and Tax Bill

US Treasury Secretary Scott Bessent discusses President Donald Trump's tariff plans, federal deficit negotiations and the efforts to extend the 2017 tax cuts with Annmarie Hordern on "Balance of Power." Sign up for the Washington Edition newsletter to find out how the worlds of money and politics intersect in the US capital: https://bloom.bg/3KkEimO 00:00- Bessent says of tariffs, “this is the number barring retaliation” 01:20- China tariff rate, potential rate 03:13- Bessent on markets: “A mag seven problem, not a MAGA problem 05:07- Potential timing of reconciliation bill 07:00 - US on Debt ‘Warning Track’ for May or June 07:45 - Bessent on raising revenues through tariffs 09:18 -Bessent discusses US soft data, sentiment 10:25 - Government agenda for the remainder of 2025, Ukraine progress, and Iran -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X:   / bloombergtv   Facebook:   / bloombergtelevision   Instagram:   / bloombergtv   Connect with Bloomberg Business on: X:   / business   Facebook:   / bloombergbusiness   Instagram:   / bloombergbusiness   TikTok: https://www.tiktok.com/@bloombergbusi... Reddit:   / bloomberg   LinkedIn:   / bloomberg-news   More from Bloomberg: Bloomberg Radio:   / bloombergradio   Bloomberg Surveillance:   / bsurveillance   Bloomberg Politics:   / bpolitics   Bloomberg Originals:   / bbgoriginals   Watch more on YouTube: Bloomberg Technology:    / @bloombergtechnology   Bloomberg Originals:    / @business   Bloomberg Quicktake:    / @bloombergquicktake   Bloomberg Espanol:    / @bloomberg_espanol   Bloomberg Podcasts:    / @bloombergpodcasts