Scott Bessent’s appointment as a key figure in Donald Trump’s second administration offers critical insights into the anticipated direction of U.S. economic policy. Markets have remained largely stable following Trump’s re-election, with key assets like equities, bond yields, gold, and oil showing minimal movement, while bitcoin, the euro, and the renminbi experienced notable shifts.
Bessent’s Strategic Approach to Economic Policy
Bessent frames Trump’s controversial tariff proposals, such as a 60% tariff on China and 10-20% tariffs on other nations, as negotiation tools rather than outright protectionist measures. This phased strategy includes:
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