2 weeks Ago By Bibhu Pattnaik
According to MSNBC host Stephanie Ruhle , Treasury Secretary Scott Bessent is seeking an exit from Donald Trump ‘s administration after just two months on the job, What Happened : Ruhle said on her Friday show that Bessent’s reputation has taken a hit due to the poor execution of Trump’s tariff policy, and he is seeking an out. Ruhle sais that Bessent, who has a net worth of $521 million from managing large hedge funds, is finding it difficult to reconcile with Trump’s tariff math, which has been widely criticized for its rudimentary understanding of international trade, reports Daily Beast. The tariff announcement, made last week and referred to as “Liberation Day,” imposed a blanket 10% tariff on all U.
S. imports and “reciprocal” tariffs on 180 countries. This resulted in a significant dip in stock futures, with the Dow Jones Industrial Average experiencing its worst day since 2020.
Reports suggest that Trump is “not listening” to Bessent, who appears to be increasingly isolated within the president’s inner circle. Bessent, who has a deep understanding of market dynamics, has been more cautious in his approach, previously describing the use of sweeping tariffs as “maximalist” positions. Also Read: $74 Billion Wiped Out Since Tariff Declaration — See How Much The Billionaires Lost After the tariff rollout, Bessent cautioned countries against retaliation.
However, on Friday, China announced a retaliatory 34% tariff on all U.S. imports, leading to another stock market plunge.
Why It Matters : The alleged exit of Bessent could further destabilize the Trump administration, which is already facing criticism for its handling of the tariff rollout. The tariff debacle has not only affected the U.S.
stock market but has also strained international relations, particularly with China. Bessent’s departure could signal a lack of confidence in the administration’s economic policies, potentially leading to further market volatility. Read Next Treasury Secretary Scott Bessent Says Stock Market Decline Is Due To China’s DeepSeek, Not Trump’s Policies: ‘Mag 7 Problem, Not A MAGA Problem’ Shutterstock: Jimwatson © 2025 Benzinga.
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