Trump's economic agenda aims to attract global investors

On May 5, 2025, in the United States, Treasury Secretary Scott Bessent presented President Donald Trump's economic agenda at the Milken Institute Global Conference, aimed at a gathering of international investors. Bessent emphasized three main components of the administration's strategy: tariffs, tax cuts, and deregulation, which he believes are essential to spur growth in the U.S. economy. He articulated that the administration has been focused on eliminating government waste and harmful regulations while fostering an environment for private investments through fresh tax legislation. During his speech, Bessent drew attention to Trump's initiatives to engage trading partners in negotiations, indicating that significant progress was being made, especially with China. He stated that there might be substantial advancements in these talks in the upcoming weeks, despite existing high tariffs on Chinese imports. This effort for renegotiation includes promises made by Trump, who claimed that the U.S. was close to securing numerous trade agreements that would be beneficial for the economy. In addition, Bessent noted that the administration's economic policies are designed to create a 'golden age economy' for the nation. He argued that the foundations laid by the Trump administration would enable American workers to achieve higher living standards and innovations across industries. The Treasury Secretary reinforced the need for a balanced approach that could foster both new innovations in technology and ensure support for traditional sectors like steelmaking, emphasizing the importance of opportunity for all workers. As the conference unfolded, Bessent reiterated the administration's ambitious deregulatory agenda which includes tax reforms aimed at supporting small businesses and revitalizing American industry. Trump’s previous tax legislation is a vital starting point, focusing on crucial incentives for investments, equipment expensing, and permanent small business deductions. According to Bessent, the policy direction aims to stimulate not only the manufacturing sector but also the energy industry, thus expanding the overall economic horizon for the United States.