Scott Bessent Says Trump Tariffs Delivering 'Historic Results,' GDP Growth Could Hit 5% — Justin Wolfers Hits Back: 'Ask American Manufacturers'

Treasury Secretary Scott Bessent claims that Trump’s tariffs are yielding "historic results," predicting GDP growth could reach 5% with total tariff revenue potentially hitting $300 billion this year. He notes that each $300 billion adds 1% to GDP. However, economist Justin Wolfers counters this optimism, citing a Dallas Fed survey where 72% of American manufacturers reported negative impacts from the tariffs. The ISM's Manufacturing PMI also indicates ongoing contraction in the sector, highlighting the divide in perspectives on the tariffs' effectiveness.