Scott Bessent sees $300 bn tariff windfall by year-end

US Treasury Secretary Scott Bessent projects over $300 bn in tariff revenue by year-end, up from $100 bn so far, amid Trump's reciprocal tariff policy. While the president extended the full tariff rollout to August 1, he confirmed that there would be no further delays. Uncertainty has weighed on markets, with the SPY and QQQ down 0.8% and 0.7%, respectively, this week.