U.S. Treasury Secretary Scott Bessent may be ready to leave the Trump administration, according to U.S. television network MSNBC. His credibility has been severely tested after the disastrous launch of the tariff plan pushed by the president, which triggered a series of negative reactions in the financial markets. Some sources believe Bessent is seeking a way out, possibly moving to the Federal Reserve, the U.S. Central Bank, aware that his current position is increasingly jeopardizing his reputation.
The GOP leader’s decision to impose a universal 10% tariff on all imports and “reciprocal” tariffs on 180 countries has had a devastating impact. The Dow Jones Industrial Average experienced its worst drop since 2020, a reaction that led journalist Stephanie Ruhle to claim that Bessent, known for his experience in managing billion-dollar hedge funds, is struggling to understand the “absurd math” behind the new tariffs.
Based on the information gathered by Ruhle, it is believed that Bessent, a market expert, is in conflict with Trump, who does not heed his advice. While the magnate continues to defend his trade policies as a form of “economic revenge” against countries that, in his view, have exploited the United States, the Secretary is more cautious, aware that an escalation could harm global markets.
Indeed, China has already imposed a 34% retaliatory tariff on U.S. imports, further exacerbating the situation and causing stock markets to plunge. Even among the president’s allies, support for the tariffs seems to be waning, as confirmed by Ruhle, who stated that no investor is willing to back such an economic campaign.
The crisis Bessent is facing is thus the result of an internal conflict between a pragmatic approach and the protectionist policies adopted by the Republican administration. The situation appears far from easy to resolve, with the future of the Secretary now uncertain and hanging in the balance.
