Key Square Capital Management CEO Scott Bessent joined 'Fox & Friends' to discuss President-elect Donald Trump's vision for the economy and how he could be a good fit to serve during a second Trump term.

For months, economic commentators parroted the Harris campaign’s misleading talking point that tariffs are a "sales tax." Like much of economists’ conventional wisdom, this view is fundamentally incorrect. The reflexive opposition to tariffs represents political ideology and advocacy, not considered economic thought.

The truth is that tariffs have a long and storied history as both a revenue-raising tool and a way of protecting strategically important industries in the U.S. President-elect Donald Trump has added a third leg to the stool: Tariffs as a negotiating tool with our trading partners.

Prior to the 16th Amendment, which authorized the individual income tax, tariffs had been one of the federal government’s chief sources of funding. Our first Treasury Secretary, Alexander Hamilton, also happened to be America’s original proponent of tariffs. But after World War II, a........

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