Scott Bessent: “American shipbuilding capacity which once helped to secure…”

“Only a small share of of the active pharmaceutical ingredients that we use in the United States are made here. An American shipbuilding capacity which once helped to secure victory in war and prosperity in peace has shrunk to a fraction of global production. So when I say America has been asleep, I do not mean that no one warned us. In fact, many did. Workers warned us when their plants shuttered and communities decayed.” (05:21–05:32)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.