US Treasury Secretary wants to resign due to "ridiculous tariffs"? Trump's trade policy triggers cabinet turmoil
US Treasury Secretary Scott Bessent is considering resigning because he is dissatisfied with the Trump administration's "reciprocal tariff" policy. According to MSNBC host Stephanie Ruhle's revelation on the TV show "Morning Joe" on April 4, Bessent was extremely disappointed with the Trump administration's trade policy, believing that its "ridiculous tariff algorithm" seriously violated market laws and was even ridiculed by critics as "kindergarten-level international trade understanding."
Ruhle revealed that Bessent seemed out of place within the Trump administration. Not only did he fail to enter the president's core decision-making circle, but his policy recommendations were also repeatedly ignored. Sources said that Bessent is actively looking for a "way out" and is even considering switching to the Federal Reserve to avoid further damage to his market credibility.
It is worth noting that Bessent has been a staunch supporter of Trump before. He advised Trump on economic policies during the 2024 election and paid $3 million out of his own pocket to support his campaign. Trump also praised him as "one of the greatest analysts on Wall Street." However, the introduction of the "reciprocal tariff" policy this time obviously exceeded Bessant's tolerance limit.
On April 2, Trump signed an executive order, announcing a 10% "minimum benchmark tariff" on all trading partners, and a higher tax rate on countries with large trade deficits. This policy immediately triggered a global backlash, and many countries threatened to take countermeasures, causing U.S. stocks to plummet continuously, and the Nasdaq index even fell into a technical bear market.
In the face of strong opposition from the international community, Bessant tried to ease the situation and called on countries to "not retaliate," saying that taking countermeasures would only lead to an escalation of the trade war. However, this statement has instead attracted widespread criticism, with some netizens sarcastically saying: "It's like a bully hitting someone and then saying 'don't fight back.'"
So far, Bessant himself has not publicly responded to rumors of resignation. But if he eventually chooses to leave, he will become another senior official in the Trump administration who leaves due to policy differences, further exacerbating market concerns about the stability of U.S. economic policies.