British media: Wall Street demands the dismissal of tariff hawk Navarro, and the White House infighting sees the Treasury Secretary take control of the tariff agenda.
Why was the atmosphere much calmer at the end of the IMF meeting compared to when it began? Because U.S. Treasury Secretary Scott Bessent has taken control of the tariff agenda, almost single-handedly calming the markets and sentiments in other parts of the world.
Diplomats in finance attribute Bessent's rise and the key 90-day suspension of so-called "reciprocal" tariffs to some farcical behavior within the West Wing of the White House.
It is said that Bessent could make Trump listen to opinions about the damage tariffs cause to the U.S. Treasury market after a White House economic advisor successfully lured the tough tariff hawk and notorious creator of the tariff formula, Peter Navarro, away from the Oval Office with a false meeting invitation.
Senior figures on Wall Street believe that only Navarro's dismissal can restore a certain degree of normalcy. Insider sources say that Trump will never fire this trade advisor because Navarro served time in prison after supporting the president's January 6th riot.
At best, this sounds like the global economy and all our livelihoods playing out like a Hilary Mantel novel within the Trump court. At worst, it leads financiers and governments to start contemplating unimaginable scenarios, namely how far the U.S. or other parts of the world might go. For now, uncertainty is more worrying than the direct impact of tariffs.
Source: BBC
Original article: https://www.toutiao.com/article/1830685468561419/
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