Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRishabh MishraSat, June 27, 2026 at 5:31 AM GMT+2 6 min readBenzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.Treasury Secretary Scott Bessent on Wednesday defended the administration's aggressive trade policies, unveiling a comprehensive "3 through 3" economic blueprint designed to sustain high GDP growth while neutralizing "structural inflation."Deconstructing critics' claims that import penalties harm American consumers, Bessent argued that persistent price pressures are rooted in domestic services rather than the government's newly revived global trade barriers.The Tariff Reboot And Service-Sector InflationSpeaking in a wide-ranging interview on CNBC, Bessent dismissed warnings that defensive economic measures spike consumer costs."People like to say that it's added to inflation, but when you look at the data, the structural inflation has been in services," Bessent clarified, noting that service-sector dynamics are entirely insulated from global import markets.Don't Miss:A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and whyStill Learning the Market? These 50 Must-Know Terms Can Help You Catch Up FastTo protect American manufacturing and strengthen national security, the Treasury Secretary confirmed the administration has actively "rebooted the tariff program."The current framework utilizes Section 122 tariffs to establish a temporary 10% global baseline while the administration awaits the completion of deeper Section 301 supply chain studies.If successful, Bessent stated, "the tariff rates are going to go back to exactly where they were." He noted that using this economic leverage has already successfully pressured global allies to lower non-tariff barriers and rewrite trade rules in America's favor.Inside The '3 Through 3' Economic BlueprintTo anchor long-term fiscal health, Bessent outlined his signature "3 through 3" economic framework, a triple-pronged strategy to foster macroeconomic growth without triggering localized inflation.Trending: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big TimeThe plan relies on maintaining a robust 3% GDP growth rate, expanding energy production by an equivalent of 3 million more barrels of oil and gas per day, and slashing the national deficit to 3% of GDP. Bessent pointed out that the deficit has dropped significantly under recent spending contractions.By lowering the deficit-to-GDP ratio to the 3% target by the end of the presidential term, the U.S. will successfully begin "paying down overall debt as a percent of the economy," paving the way for a highly productive, non-inflationary future.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info