Overview

• President Trump has reversed sweeping tariffs and adopted a 'fair trade' approach to secure updated trade deals with other nations.
• Scott Bessent, a former hedge fund manager and Treasury Secretary, now leads the administration's trade strategy, emphasizing market stability.
• Peter Navarro, a longtime advocate of protectionist policies, has reportedly been sidelined, though he publicly denies these claims as 'fake news.'
• Howard Lutnick has been reassigned to play a 'bad cop' role in trade negotiations, reflecting a broader reshuffle within the trade team.
• The policy shift and internal changes come as the administration seeks to address market volatility and economic uncertainty tied to its trade decisions.