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Bessent's big moment

2 0
12.04.2025
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Business & Economy

 

The Big Story

Bessent moves to center of Trump World

Treasury Secretary Scott Bessent, tapped in part to help President Trump keep markets calm, may have had his breakout moment this week.

© Greg Nash

Bessent spearheaded the rollout of Trump’s 90-day pause on hefty tariffs on trading partners, briefly calming the markets amid increasing pressure from Wall Street for the trade team to shift gears toward negotiating.

The Treasury secretary has emerged as the leading voice on trade, winning the microphone from top tariff hawks in the administration, including trade adviser Peter Navarro — a development Republican lawmakers are cheering on vociferously.

“He is a voice that is reassuring and calm when it comes to the news of the day, particularly with regard to what’s happening in the economy and the issues on trade and taxes,” Senate Majority Leader John Thune (R-S.D.) told The Hill.

One longtime GOP lobbyist added that Bessent, along with Kevin Hassett, the head of the National Economic Council, are the business community’s “great hope” in the administration to keep it from “fully going over the protectionist cliff” in what has already become an internal tug-of-war.

Read the full report at TheHill.com.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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© The Hill