Finance Minister: Merging tariff provisions has a negligible impact, policy balance becomes the key

U.S. Treasury Secretary Scott Bessent recently commented on the domestic tariff policy adjustments. According to multiple reports, Bessent stated that evaluating the government’s tariff integration plan shows that its actual impact on overall tax revenue is minimal and within controllable limits.

The Combined Effect of the Three Major Provisions

The integration involves three tariff provisions: Sections 122, 232, and 301, which were introduced at different times and focus on different regulatory areas. Section 122 pertains to the Generalized System of Preferences, Section 232 concerns import restrictions related to national security, and Section 301 focuses on retaliatory measures related to intellectual property protection. Combining these diverse provisions highlights the complexity of policy design.

Deep Consideration of the Minimal Impact on Fiscal Revenue

According to calculations by the U.S. Department of the Treasury, this tariff integration contributes almost negligibly to federal tariff revenue, reflecting that the entire adjustment plan has been carefully designed. Bessent’s statement indicates that the government, in advancing trade policy reforms, has balanced multiple considerations—aiming to achieve trade policy goals while maintaining basic fiscal stability. This approach of seeking balance amid conflicting interests demonstrates the subtlety of contemporary trade policy.

Policy makers describe the impact as “minimal,” effectively signaling that the plan has been thoroughly vetted and will not pose a substantial threat to the nation’s finances. This is important for maintaining market confidence and stabilizing expectations.