Watch live: Bessent delivers warning on US manufacturing
Summary
Treasury Secretary Scott Bessent will speak at the Reagan National Economic Forum about weaknesses in the U.S. manufacturing sector. He will say that focusing on efficiency has made the country less prepared by reducing important industries like semiconductors and medicine production.Key Facts
- Scott Bessent is the U.S. Treasury Secretary.
- He will speak at the Reagan National Economic Forum on Friday.
- His speech is titled “While America Slept.”
- He will warn that decades of industrial policy have made the U.S. vulnerable.
- U.S. policies favored efficiency instead of building strong and reliable manufacturing.
- Key industries affected include semiconductors, rare earth minerals, and medicines.
- The reduced production capacity in these areas creates strategic risks for the country.
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