Tipsheet

Scott Bessent Calmly Shuts Down Senator Warnock’s Anti-Tariff Rant

Dmitri Bolt
Dmitri Bolt  |  February 06, 2026 11:15 AM

Senator Warnock, a Democrat from Georgia, blasted Treasury Secretary Scott Bessent, blaming President Trump’s “Liberation Day” tariffs for month-after-month declines in manufacturing jobs and for leaving small businesses in his home state struggling to keep pace with large manufacturers. Bessent responded calmly, arguing that while the numbers may not yet reflect it, the Trump administration’s economic policies are rapidly laying the groundwork for a manufacturing boom, securing trillions of dollars in foreign investment, and dismissing outlets like the Wall Street Journal as out of touch with Main Street.

"Thank you, Chair Scott, and welcome, Secretary Bessent," Warnock began. "President Trump promised that his administration would usher in a, quote, 'Golden Age' of American manufacturing. In September 2024, at a rally in my home state of Georgia, Donald Trump said, quote, 'We're going to have a manufacturing boom.' Secretary Bessent, we're now more than one year into the Trump administration, yes or no? Has there been a manufacturing boom in the United States?"

"There are the beginnings of a manufacturing boom," Bessent replied. "We have intentions, factory groundbreakings, sir."

"So your answer to that is yes, there's been a manufacturing boom?"

"That we are at the beginning of a manufacturing boom."

Sen. Warnock went on to pin the struggles of American businesses on the president’s tariff policies, citing a Wall Street Journal article that placed the blame for the manufacturing downturn squarely on tariffs.

"Okay, you and I could agree to disagree," Warnock responded. "But more importantly, manufacturers are telling us something different. Manufacturers are struggling because of the president's policies, and that's what they keep telling us, and the facts keep telling us. In fact, just this past Monday, the Wall Street Journal published this article entitled, 'U.S. Manufacturing is in Retreat and Trump's Tariffs Aren't Helping.' I request consent to enter this article into the hearing record, Mr. Chairman."

"Secretary Bessent, do you know how many manufacturing jobs the United States has lost since Liberation Day in April 2025, when the president first announced his tariffs?" Sen. Warnock asked.

"Yes, Senator, because you were out of the room, but it was already brought up," the Treasury Secretary quipped.

"We do many things. I don't need you to tell me where I was," Warnock fired back.

"Seventy-two thousand," Bessent said. "And I will point out that the Wall Street Journal is not called the 'Main Street Journal,' and they care more about Wall Street than Main Street."

"Sir, I'm not asking you to opine on the Wall Street Journal. I have three minutes. Just answer the questions that I'm actually asking you. So, 72,000 manufacturing jobs, according to the Federal Reserve Bank of St. Louis. Thank you for answering the question. Manufacturers shed workers, shed workers, in each of the eight months after President Trump unveiled his tariffs on what he called Liberation Day. I would submit that it's a strange liberation and a curious freedom that leaves you unemployed."

Even worse, smaller businesses are struggling to keep up with the tariff chaos. Big manufacturers may have the resources to shift suppliers. And I need you to understand the spirit of my questions. I spend a lot of time talking to the people in Georgia who've given me the great honor of representing them in the United States Senate. And so, this is about them. And especially our small businesses. They don't have the ear of the President. They don't have access to Mar-a-Lago. And so, they're not able to insulate their company from the worst of the tariff. Secretary Bessent, small businesses without the same resources or unfettered access to the President, what should those businesses do for relief if they can't get into Mar-a-Lago?

"Again, sir, small business competence is up," Bessent replied. "And we are seeing that the One Big Beautiful Bill gives the full expensing for equipment, factories, and ag structures."

"They are telling us that it's more expensive to make basic things," Warnock replied. "We are moving in the wrong direction. The facts don't lie. The president lies often. But the facts don't lie. In fact, if you're saying we're at the beginning, basically your answer to those small businesses is wait a little while. Is that the answer?"

"You ask about manufacturing?" Bessent said.

"That's right. I'm asking you about this manufacturing boom. Will we see something different a year from now?"

"We are going to see it. I was just in my home state, Senator Scott's state, South Carolina, that we are seeing a boom there," the Treasury Secretary replied. "And I believe Georgia has very good pro-business policies. I'm sure you will see a boom there also. The factory build intentions are quite high."

Rather than pressing for specific figures on the manufacturing boom Bessent cited in South Carolina, or asking how that growth might spread across the rest of the country, Sen. Warnock spent the remainder of his time offering his own assessment of the manufacturing economy. He continued to pin rising costs, from groceries and electricity to health care and small businesses, on the Trump administration, blasting it for problems the administration has repeatedly said are the legacy of the Biden era. 

I'll tell you what I see. I see as I talk to folks that it's more expensive to build things in America. I see that we've lost 72,000 jobs a year into this administration. We've lost manufacturing jobs every month since he called for Liberation Day. And meanwhile, folks who are working in these small businesses trying to make their lives work, they're seeing higher costs. They're seeing their costs go up for groceries. They're seeing their costs go up for electricity. They're seeing their costs go up for health care. And I think the American people are still waiting for a solution. So far, we haven't seen one coming out of this Trump tariffs regime. The Baptist preacher is done. I have no time left.

Despite Warnock’s view of the matter, in 2025, several countries and multinational corporations announced massive new investments in American manufacturing, totaling in the trillions, and commitments the Trump administration argues were secured only through its tariff policies. 

While that manufacturing boom has yet to fully register in nationwide economic data, the administration insists that, at the ground level, manufacturers are already praising the tariffs and that those massive investments will soon translate into measurable gains across the country.