Episode 1752 • • 48:59 - 52:37
1752: Pell-Mell
Scott Bessent, Treasury Strategy and the DeepSeek Market Impact
Treasury Secretary nominee Scott Bessent advised trading partners not to panic or retaliate, suggesting that current tariff levels represent a "ceiling" for negotiations. He noted that China faces higher rates due to the ongoing fentanyl crisis and the export of precursor chemicals. Bessent also dismissed recent Nasdaq declines as a "DeepSeek problem" related to specific AI developments rather than a broader failure of the administration's economic agenda.