The article focuses on Scott Bessent, Treasury Secretary under President Donald Trump, and his crucial role in navigating a tumultuous period of trade negotiations and tariff threats. Bessent's calm demeanor and measured approach stand in stark contrast to other advisors, such as Howard Lutnick (Commerce Secretary) and Elon Musk, whose public disagreements created market volatility.
Bessent's strategy involved reassuring bankers and markets that the president's tariff threats were driving negotiations with multiple countries. He emphasized the need for deals and urged nations not to align economically with China, employing analogies like the Disney film Fantasia to illustrate China's persistent manufacturing practices. He communicated with a wide range of audiences, from CNBC to podcaster Tucker Carlson, to convey the president's agenda.
Other advisors took a more confrontational approach. Lutnick's aggressive interviews angered investors, while Elon Musk's public disagreements with trade advisor Peter Navarro drew further tension. The White House largely dismissed the conflicts between advisors, but Bessent remained a consistent, level-headed presence.
Bessent's calm messaging and direct engagement with the president directly influenced the market. Figures like Ben Shapiro and Jamie Dimon (JP Morgan CEO) highlighted Bessent's role in preventing a stock market collapse. Bessent's actions led to a presidential pause on tariffs, a plan conceived during a weekend meeting at Mar-a-Lago. Following the pause, Bessent publicly declared victory alongside the press secretary, crediting President Trump for his role.
Bessent's measured communication and his focus on Main Street's needs earned him respect within the administration. Sources described him as 'the adult in the room' who steered the negotiations. His approach was presented as a contrast to Lutnick's aggressive tactics and Musk's sidelined free-trade stance.