Nashville Standard

United States Senator Bill Hagerty (R-TN), a member of the Senate Banking and Foreign Relations Committees, appeared on BloombergTV's "Surveillance" to discuss various economic issues under the Biden-Harris Administration, including inflation, energy policy, trade tariffs, and cryptocurrency.

Addressing inflation, Hagerty remarked: “We have a number of problems with the economy. I think the biggest one, however, and it’s related, is inflation, and inflation is driving higher interest rates. Of course, that has a direct impact on our currency." He further stated that President Trump's policies would lower inflation by ending what he described as the current administration's war on fossil fuels and reducing regulatory barriers.

On potential Trump tariffs' effects on the U.S. economy, Hagerty noted: “Look, I’m fully aware of the concerns surrounding tariffs... The United States of America has the lowest tariff barriers of any major economy in the world... We want to see more reciprocal and fair trading terms.”

Regarding trade reciprocity and U.S. dollar exchange rates, Hagerty commented: “Well... it’s something that always has to be balanced... President Trump did an excellent job during his first Administration... The most important thing though is that President Trump will come in and end these reckless policies domestically that have created inflation.”

Discussing energy policy under the Biden-Harris Administration, Hagerty said: “Lisa [the interviewer], it clearly is a war on fossil fuels because Joe Biden came in and took federal lands off the map immediately upon taking office. That’s a quarter of our capacity right there."

Hagerty also touched upon future negotiations concerning USMCA: “Well, in 2026, the USMCA is up for renegotiation... Chinese EV makers are looking to end run tariffs and use the USMCA and Mexico market in particular as a means to get into the U.S. market."

On cryptocurrency's role in maintaining U.S. competitive advantage, Hagerty stated: “Lisa [the interviewer], I think this is something that has evolved over time... We need to make certain that it happens here in America.” He added that President Trump plans to replace current regulatory leaders like Gary Gensler if re-elected.

The discussion provided insights into Senator Hagerty's views on key economic issues facing the United States today.

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