Despite significant declines in global stock markets, officials from the Trump administration, particularly Treasury Secretary Scott Bessent, have reiterated their commitment to the tariff strategy, claiming it is a necessary one-time price adjustment. Bessent has dismissed concerns about an impending recession and noted that Americans nearing retirement are not overly concerned about daily market fluctuations. He emphasized that more than 50 countries are negotiating tariffs and urged them not to retaliate. Furthermore, Bessent expressed confidence in the U.S. economy, asserting that there is no reason to anticipate a recession and that the market consistently underestimates President Trump’s economic policies. However, within the administration, there are indications of rising tensions about the tariff strategy, with reports of officials considering resignations over the situation.