Treasury Secretary Scott Bessent on Tuesday laid out a doctrine of “economic statecraft,” telling the Economic Club of New York that the United States would wield its economic power “in service of our sovereignty” and warning that a country unable to produce what it needs “is not truly secure.” Speaking at the club’s America 250 Gala Dinner on the eve of the nation’s 250th anniversary, Bessent organized the Trump administration’s approach around what he called five core principles, anchored by the argument that national strength begins at home with the capacity to build. “We have rediscovered at great cost what Hamilton taught us: that every nation ‘ought to endeavor to possess within itself all the essentials of national supply,’” Bessent said, invoking the nation’s first Treasury secretary. “That our strength, in other words, is derived from what we can build, for the nation that cannot produce what it needs is not truly secure. The nation that depends on its adversaries for critical inputs is not truly sovereign. And the nation that reduces its economics to consumption is not truly prosperous.” Bessent defined economic statecraft as “the disciplined use of America’s economic power in service of our sovereignty,” and said the

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