U.S. Treasury Secretary Scott Bessent said that the U.S. will exert economic pressure not only on its adversaries but also on allies that fail to align with President Donald Trump’s global vision.

According to Reuters and other media outlets, Bessent made the remarks on Thursday during a speech at the Economic Club of New York, saying, "Access to cheap goods is not the essence of the American dream."

He added, "The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this."

The secretary also stressed that the U.S. will respond in kind to any country whose trade practices harm the U.S. economy and its people, calling this approach the “America First trade policy.”

Additionally, Bessent said that the Trump administration will not hesitate to go “all in” on strong sanctions against Russia if they provide leverage in peace negotiations between Russia and Ukraine.