In a twist that's got market watchers on edge, U.S. Treasury Secretary Scott Bessent appears set to consider an exit from the Trump administration. This comes hot on the heels of the president's "reciprocal tariff" announcement, which has raised concerns about its impact on the global economy.
Trump's tariff policy—imposing a 10% baseline tariff on nearly all foreign goods—has sparked a heated debate. Bessent warned that such measures could escalate global trade tensions, urging countries to avoid retaliatory moves that might further destabilize markets.
On MSNBC's Morning Joe, contributor Stephanie Ruhle noted that Bessent, once a sharp hedge fund manager, now feels increasingly isolated within the administration. This isolation might be pushing him toward a potential exit, with some speculating he could aim for a role at the Federal Reserve to restore his credibility.
The repercussions of the tariff boost have been felt in the markets, with major indices like the Dow Jones and Nasdaq suffering their worst days since 2020. Such downturns highlight concerns that these policies may harm everyday consumers who rely on affordable imports.
As the debate intensifies, Bessent's possible departure casts a spotlight on internal disagreements and the challenging road ahead for U.S. economic policy. It's a high-stakes drama unfolding like a gripping thriller 🎬, and all eyes are on what will happen next.
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U.S. treasury secretary mulls exit following tariff backlash: media
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