Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Trump's tariff policy shakes Wall Street, Treasury Secretary Bessent becomes the "help-seeking object" in the financial world

Trump's tariff policy shakes Wall Street, Treasury Secretary Bessent becomes the "help-seeking object" in the financial world

Bitget2025/04/06 02:31

PANews reported on April 6th, according to Bloomberg, during this week's stock market crash, US Treasury Secretary and former hedge fund executive Scott Bessent continuously received text messages from Wall Street executives. Several hedge fund managers and financial executives hoped that he could persuade Trump to withdraw the tariff policy because he had served as the Chief Investment Officer at Soros Fund Management and was seen as a potential "market-oriented" ally.

However, insiders revealed that Bessent is not the main driver of the tariff policy; instead, he mostly analyzes the impact of different tariff levels on markets and economies in White House meetings. The policies are ultimately formulated by a small group within Trump's inner circle with many key decisions being made at the last minute.

Currently, Trump's push for an "American-made" economic policy is clashing with Wall Street interests which have long relied on global trade. Even some Republican lawmakers have started issuing warnings about his tariff policy.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Spot silver rises above $43 per ounce, the first time since September 2011
2
U.S. Senate Democrats veto Republican temporary funding bill, increasing risk of government shutdown

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,339.02
-1.94%
Ethereum
Ethereum
ETH
$4,459.59
-3.09%
XRP
XRP
XRP
$3
-3.38%
Tether USDt
Tether USDt
USDT
$1
+0.01%
BNB
BNB
BNB
$979.72
-0.85%
Solana
Solana
SOL
$237.67
-4.37%
USDC
USDC
USDC
$0.9998
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2661
-6.10%
TRON
TRON
TRX
$0.3446
-1.93%
Cardano
Cardano
ADA
$0.8968
-3.68%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter