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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.

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