Bloomberg Surveillance Bloomberg Surveillance TV: August 13th, 2025
Aug 13, 2025
Scott Bessent, the US Treasury Secretary, shares insights on tariffs and the economic priorities of a potential second Trump administration. Jeannette Lowe, a Director at Strategas Securities, discusses the latest developments in Trump’s political strategy. Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, analyzes the sustainability of the current equity rally in light of tariff impacts. The conversation touches on the Federal Reserve's expected actions and overall economic trends, providing a comprehensive view of the shifting financial landscape.
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New Export-License Model For Chips
- The administration created a novel license model allowing NVIDIA to sell limited chips to China while retaining control and capturing revenue.
- Scott Bessent says this model could extend to other industries as a way to balance trade, security, and revenue.
Tariff Revenues Could Exceed Expectations
- Treasury expects tariffs and related measures to raise substantially more than prior estimates this year, potentially exceeding $300 billion.
- Bessent signals he expects to revise revenue projections higher as new measures roll out.
Tariffs Showing Limited Pass-Through
- Early data shows limited tariff pass-through to consumer prices because foreign producers and firms have absorbed costs.
- Bessent expects continued absorption by Chinese suppliers and some corporate margin compression.