Secretary of the Treasury Scott Bessent addressed the APEC Economic Leaders’ Informal Dialogue, representing President Trump and emphasizing the United States' commitment to fostering a more connected and resilient Asia-Pacific region.
In his remarks, Bessent highlighted the importance of fair and secure trade and investment flows for shared prosperity. He stated, "Our shared prosperity depends on fair and secure trade and investment flows."
Bessent noted that under President Trump's leadership, the U.S. is working to rebalance its trade relationships to strengthen global growth. "Under President Trump’s leadership, the United States is rebalancing its trade relationships to build a stronger foundation for global growth. This ensures that each country operates on fair and reciprocal terms," he said.
He outlined efforts to promote transparency, market access, and fair competition across all APEC economies. The Secretary also discussed steps being taken by the U.S. to secure and diversify global supply chains in areas such as critical minerals, semiconductors, magnets, and energy. According to Bessent, these investments are designed to reduce dependence on vulnerable sectors and make supply chains more reliable.
Bessent referenced early actions by President Trump in response to emerging global crises affecting economic stability. He said, "Early in our Administration, President Trump recognized the emerging global crises that threatened economic stability. Exercising his authority under the International Emergency Economic Powers Act (or IEEPA), President Trump acted swiftly and decisively to confront these challenges."
The Secretary described ongoing U.S. efforts to balance trade, limit illicit fentanyl flows, and ensure access to rare earth elements essential for modern industries. These measures aim to protect global economic security.
He also emphasized increased public-private collaboration with APEC economies leading to record investments in advanced manufacturing and technology sectors within the United States. Bessent remarked on international confidence in America's economy: "You are among the largest and fastest-growing sources of investment in the United States, which reflects your deep confidence in America’s economic strength and demonstrates how American markets are powering mutual growth across the Pacific."
Bessent reiterated President Trump's view that economic security is integral to national security: "President Trump has made clear that economic security is national security. When supply chains are strong, markets are efficient, and competition is fair, every economy benefits."
He concluded by affirming U.S. readiness to work with APEC partners toward greater resilience, prosperity, and stability throughout the Pacific region.
