XXXX, Treasury Secretary Scott Bessent says

LOS ANGELES — Treasury Secretary Scott Bessent on Monday warned critics of President Donald Trump’s controversial tariff plans to “never bet against America” — despite some of the finance world’s heavyweights voicing fears that the trade war has made the US “merely exceptional.”Bessent gave a full-throated defense of the commander-in-chief’s America First agenda in prepared remarks at the annual Milken Institute Global Conference in Beverly Hills, Calif., predicting that Trump’s trade, deregulation and tax policies would unlock a “Golden Age” of economic prosperity.“‘Never bet against America’ captures a time-tested truth.The US economy is unstoppable,” the Key Square Founder said.“Throw whatever you will at our capital markets — the Great Depression, two World Wars, 9/11, a global recession, the COVID pandemic, or the last few years of sky-high inflation.

Each time the American economy gets knocked down, it gets back up again.And it gets back up even stronger than it was before.”Bessent’s comments came a day after he appeared at a rival reception event that went up against tariff-bashing Citadel boss Ken Griffin, who traditionally hosts the Milken event’s welcome party, as The Post exclusively reported.

On Monday, Apollo Global Management CEO Marc Rowan echoed Griffin’s concern that Trump’s tariff threats were hurting America’s image abroad.“We have done damage to the US brand — the brand for stability, predictability, regularity, ” said Rowan, whose firm manages $785 billion in assets.“I see us moving from what was hyper-exceptionalism to merely exceptional.”Citi CEO Jane Fraser said that tariffs of 25% and higher would be too much for businesses to absorb.“Most companies are in a bit of limbo land, and in that investment spending, some of that is being suspended, some of the decisions on (capital expenditure) and hiring are on hold,” Fraser said.“That will have an impact on demand and the economy....