讀後心得

U.S. Treasury Secretary Bessent is considering leaving the Trump administration due to the recently introduced "Liberation Day" tariff policy, which has severely damaged financial markets and affected his reputation. His position as Treasury Secretary has not received the attention it deserves, and Trump seems to disregard his advice, resulting in him becoming an "outsider" in decision-making. Recently, Trump announced a 10% tariff on imported goods, triggering significant market volatility and facing widespread skepticism from the public. Bessent had previously warned that such large-scale tariffs would escalate conflicts, but China has recently imposed tariffs on U.S. goods as well, causing global stock markets to decline again.

The U.S. Treasury Secretary Mnuchin has recently been reported to be considering leaving the Trump administration, with the reason being related to the recently introduced "Liberation Day" tariff policy, which not only dealt a severe blow to the financial markets but also affected his long-standing reputation in the investment community.

According to reports, sources have indicated that Mnuchin is considering a move to the Federal Reserve, as the recent tariff events have significantly damaged his reputation.

• U.S. President Trump recently announced that all imported goods would be subject to a 10% tariff and implemented "reciprocal retaliation" tariffs against 180 countries, referring to it as "America's Liberation Day."
• However, the market reacted sharply, with the Dow Jones Industrial Average plummeting that day, marking its worst day since 2020.

Mnuchin inadvertently became the spokesperson for this tariff policy, drawing attention from the public. Previously, as a hedge fund manager, he had accumulated a net worth of over $500 million and found it difficult to agree with this trade policy.

Mnuchin had warned that large-scale tariffs are "extreme measures" and described this strategy as likely to heighten conflicts before seeking de-escalation. He called on countries not to retaliate before the tariff policy was announced, but the situation rapidly deteriorated, with China imposing a 34% tariff on U.S. goods, leading to another sharp decline in global stock markets.

Even among Trump's business supporters, there is little backing for this tariff logic, and many investors find it difficult to understand, only able to agree that this is the direction of the President's decision-making.