U.S. Treasury Secretary Scott Bessent is calling for a fundamental overhaul of America’s trade approach, emphasizing the need for both security and fairness in global commerce.

“With this unfettered trade, we did not have secure trade or fair trade—and so now, we are trying to make it secure,” Bessent said in remarks highlighting the shortcomings of past trade policies. He pointed to decades of agreements that, while expanding markets, often left American workers and industries vulnerable to outsourcing and unfair competition.

Bessent’s position aligns with a broader push to safeguard national economic interests through stricter trade requirements and domestic manufacturing incentives. One example is the United States-Mexico-Canada Agreement (USMCA), which now requires that 75% of auto parts be produced within North America—a measure designed to reverse outsourcing trends and bolster the U.S. manufacturing base.

His comments suggest that future trade negotiations will prioritize resilience and self-reliance, seeking to balance open markets with protections for domestic jobs and industries.