Bessent explains why Trump is going back and forth on tariffs - it's his "strategic uncertainty" tactic.

CNN, Tapper interview. May 18, 2025

Adding more today, Bessent: 

U.S. Treasury Admits Russia Sanctions Had Little Impact — NBC News

U.S. Treasury Secretary Bessent told NBC News that sanctions imposed on Russia under the Biden administration have been largely ineffective. According to Bessent, the measures were limited by concerns over potential increases in domestic oil prices, which weakened their impact.

His remarks came in response to questions about the possibility of new sanctions. Bessent stated that Washington is prepared to strengthen sanctions in coordination with European allies but admitted previous efforts had minimal effect. He also declined to give a timeline for any new measures, noting it would be inappropriate to constrain President Trump ahead of upcoming talks with Putin.

Earlier, U.S. Secretary of State Marco Rubio said Congress may push through new sanctions if negotiations over Ukraine "collapse due to Moscow's actions."