Scott Bessent: “We could see a hit to the GDP, a hit to growth and a hit to working America.”

Working alongside our law enforcement partners, we will continue to disrupt the cartels' drug trafficking operations and protect our borders.

We want to make clear here today that no one is above the reach of U.S. sanctions.

No one is above the reach of U.S. sanctions," Bessent said.

We do not ask bankers to assume the burdens of border enforcement, but we depend on banks to do what you do best: know your customers, identify risks as they arise, and report suspicious patterns before they metastasize into criminal…