U.S. Treasury Secretary Scott Bessent used a speech at the Economic Club of New York to lay out five principles he said guide the Trump administration’s approach to economic statecraft. He framed the agenda around national capacity, trade reciprocity, U.S. economic leadership, financial leadership and delivering household prosperity. The framework emphasizes supply-chain resilience in strategic sectors including semiconductors, AI, quantum computing, critical minerals and pharmaceuticals, calls for reciprocal trade, and seeks to protect the integrity of the dollar-based financial system. It is presented as a medium-term, structural policy direction and does not announce specific legislation or immediate measures, with no direct short-term trading trigger.