Treasury Secretary Scott Bessent predicted on Sunday that President Donald Trump will strictly enforce any agreement reached with Iran. He expressed confidence that energy prices would decline and the U.S. economy would remain resilient despite recent geopolitical tensions.
During an interview at the Reagan National Economic Forum in Simi Valley, California, Bessent stated: “What I have confidence in is that President Trump is going to hold them to it.” He added that if Trump agrees to a deal with Iran, he will enforce it both militarily and economically. A key benchmark for success would be restoring freedom of navigation through the Strait of Hormuz.
Bessent described Iran as “the largest state sponsor of terrorism” and credited military pressure, sanctions, and blockades for bringing Tehran to negotiations. When asked whether Trump would “finish the job” in Iran, Bessent said success should be measured by preventing Tehran from obtaining a nuclear weapon and ensuring maritime security.
On economic matters, Bessent noted recent inflationary pressures were limited and largely driven by energy costs. He predicted that oil prices (West Texas crude) had dropped about 20-25% from their peak and gasoline prices were down approximately 5%. He also highlighted a 17% increase in factory construction and manufacturing, as well as tax policies that benefit consumers.
Bessent urged Congress to pass the CLARITY Act to strengthen U.S. cryptocurrency regulation and noted potential trade deals with the European Union. The Treasury secretary also promoted the Trump Accounts program, which provides $1,000 government-funded investment accounts for eligible children under 18.
“Markets live in the future,” Bessent said, adding that financial markets reflect confidence in the administration’s broader strategy. He emphasized that the U.S. remains focused on reducing federal deficits before tackling structural reforms.
