=Treasury Secretary Scott Bessent to America's biggest CEOs: Stop worrying

Brian Sozzi Wed, April 16, 2025 at 8:16 AM EDT

US Treasury Scott Bessent has a message to powerful public company CEOs: Stop worrying about tariffs, and get back to business.

"We're going to have a lot more clarity on the way forward [on tariffs] over the next 90 days," Bessent told Yahoo Finance in an interview on Tuesday (video above).

Bessent was responding to a question about CEOs voicing concerns about the Trump administration's trade policy. Some top leaders have expressed to me that the tariffs are putting their businesses into a state of chaos.

Bessent added, "They'll [CEOs] also have clarity on tax and on deregulation. I remember in 2017 I heard a lot of the same things because the tax deal wasn't done until right before Christmas in 2017. And it was the same thing. We can't plan. We can't do this. We need clarity. So, you know, we're going to have clarity on tax. We're going to have clarity on deregulation."

Corporate America has sounded the alarm on the state of the economy amid the tariff turmoil.

JPMorgan (JPM) CEO Jamie Dimon said in a recent TV interview that a recession is likely. Goldman Sachs (GS) CEO David Solomon told analysts on his earnings call on Monday that the prospect of a recession has increased.

Bessent's hedge fund mentor Stanley Druckenmiller has weighed in on X that he doesn't support tariffs above 10%.

"Well, the consumer is concerned about a number of things … the pricing and costs of things, inflation," Constellation Brands (STZ) CEO Bill Newlands told me on Yahoo Finance's Catalysts. "They're concerned about immigration, particularly consumers that have had friends or family who have been involved with issues around immigration. How that's translating is that people are spending less. They're out less in restaurants. They're spending less on consumer goods and consumables."

The Corona and Modelo beer maker has seen beer sales go flat amid the economic uncertainty.

Bessent said about the recession concerns from Dimon and Solomon: "Look, that's their job is to be concerned. But again, I think that there is all this chatter on tariffs and what we're worried about. And, you know, I come from Wall Street, I think Wall Street can continue to do great, but we are focused on Main Street."

The concerns from CEOs have been well placed.

On April 9, the Trump administration announced a 90-day pause on all reciprocal tariffs, with the exception being China. The tariffs on China, one of the US's most important trading partners, now stand at 145%.

https://finance.yahoo.com/news/treasury-secretary-scott-bessent-to-americas-biggest-ceos-stop-worrying-121627070.html

Trump joins tariff talks with Japan as US seeks deals amid trade wars

Wed, April 16, 2025 at 8:16 AM1/2

WASHINGTON (AP) — President Donald Trump on Wednesday inserted himself directly into trade talks with Japanese officials, a sign of the high stakes for the United States after its tariffs rattled the economy and caused the administration to assure the public that it would quickly reach deals.

The Republican president attended the meeting alongside Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, top economic advisers with a central role in his trade and tariff policies.

“Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!” Trump wrote in a social media post ahead of the meeting.

Afterward, he posted: “A Great Honor to have just met with the Japanese Delegation on Trade. Big Progress!”

Japanese Prime Minister Shigeru Ishiba told reporters Thursday in Tokyo that his chief trade negotiator, Ryosei Akazawa, told him from Washington that he had “very candid and constructive talks.”

“Of course the talks are not easy, but President Trump stated his intention to make this negotiation a top priority,” Ishiba said. “I believe we had talks that lead to a next step.”

Ishiba said he will closely watch how ministerial talks go and plans to visit Washington to meet with Trump at an appropriate time.

Trump's choice to get directly involved in negotiations points to his desire to quickly finalize a slew of trade deals as China is pursuing its own set of agreements. It's an open test of Trump's reputation as a dealmaker as countries around the world seek to limit the potential damage unleashed by his import taxes.

The sweeping tariffs that Trump announced on April 2 triggered panic in the financial markets and generated recession fears, causing the U.S. president to quickly put a partial 90-day hold on the import taxes and increase his already steep tariffs against China to as much as 145%.

The pause temporarily spared Japan from 24% across-the-board tariffs, but there continues to be a 10% baseline tariff and a 25% tax on imported cars, auto parts, steel and aluminum exports.

With Japan charging an average tax rate of 1.9% on other countries' goods and having a longstanding alliance with the U.S., the talks on Wednesday are a crucial indicator of whether the Trump administration can achieve a meaningful deal that reassures the markets, American voters and foreign allies.

U.S. economic rival China, meanwhile, is trying to capitalize on the turmoil around Trump's announcements, with its leader, President Xi Jinping, touring nations of Southeast Asia and promoting his country as a more reliable trade partner.

Japan is among the first countries to start open negotiations with the U.S. Trump and other administration officials have said the phones have been “ringing off the hook” with dozens of countries calling, eager to strike deals with a president who views himself as a master negotiator to avoid tariffs when the 90-day pause ends. Israel and Vietnam have offered to zero out their tariff rates, but Trump has been noncommittal as to whether that would be sufficient.

On Thursday, Trump is scheduled to meet with Italian Prime Minister Giorgia Meloni, who will likely be carrying messages on behalf of the European Union about how to resolve the tariffs Trump placed on the 27-state group.

Still, the U.S. president may also be feeling increased domestic pressures to settle any tariffs as many voters say they returned Trump to the White House with the specific goal of improving the economy. California Gov. Gavin Newsom filed a lawsuit Wednesday that argues that Trump overstepped his authority by declaring an economic emergency to levy his tariffs, with the Democrat saying in a statement that the tariffs have caused economic chaos.

https://www.yahoo.com/news/trump-says-hes-joining-bessent-121634535.html

>>22923158

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Federal Reserve Chair Jerome Powell said Wednesday that Trump's tariff policies would hurt the U.S. economy, a direct warning to a White House trying to sell the import taxes as a long-term positive for the country. (Fucker)

“The level of tariff increases announced so far is significantly larger than anticipated, and the same is likely to be true of the economic effects which will include higher inflation and slower growth,” Powell said at the Economic Club of Chicago.

Japan, like many other nations trying to minimize the possible economic fallout from Trump's tariffs, has been scrambling to respond. It has set up a special task force to assess the impact of the tariffs and offer loans to anxious companies.

Although Prime Minister Shigeru Ishiba has been working hard to coax exemptions out of Trump, the government has said little officially on what concessions it might offer during these talks.

Nor has the administration been transparent about its asks. The Trump administration is seeking to close the $68.5 billion trade deficit with Japan and seeking greater access for U.S. goods in foreign markets, yet the president has also insisted that tariff revenues can be used to pay down the federal budget deficit.

“Japan is coming in today to negotiate Tariffs, the cost of military support, and ‘TRADE FAIRNESS,’” Trump posted Wednesday.

Japan has contended that Trump's tariff measures are likely to violate bilateral trade agreements or World Trade Organization rules. While Ishiba has said he opposes retaliatory tariffs, he also has said he is in no rush to push for a settlement because he doesn't want concessions.

Xi, meanwhile, stopped in Malaysia on Wednesday and told its leader that China will be a collaborative partner and stand with its Southeast Asian neighbors after the global economic shocks.

Xi is touring Vietnam, Malaysia and Cambodia this week on a trip that likely was planned before the tariffs' uncertainty but that he's also using to promote Beijing as a source of stability in the region and shore up relationships in that part of the world as he looks for ways to mitigate the 145% tariffs that Trump is keeping on China.

“In the face of shocks to global order and economic globalization, China and Malaysia will stand with countries in the region to combat the undercurrents of geopolitical … confrontation, as well as the counter-currents of unilateralism and protectionism,” Xi said in remarks at a dinner with Malaysian Prime Minister Anwar Ibrahim.

“Together, we will safeguard the bright prospects of our Asian family,” he added.

Xi has promised Malaysia and Vietnam greater access to Chinese markets on his visits, although few details were shared.

In Washington, Trump has indicated that he also wants to discuss how much the Japanese contribute to the cost of U.S. troops stationed there, largely as a deterrent to China.

Trump’s demand for more defense spending concerns the Japanese government.

Under its national security strategy, Japan aims to double annual defense spending to nearly $10 trillion, or 2% of GDP, in 2027, while there is a concern that Trump may ask for that to be increased to 3% of GDP. Japanese Defense Minister Gen Nakatani said Tuesday that the military budget for this year is about 1.8% of Japan’s GDP.

https://www.yahoo.com/news/trump-says-hes-joining-bessent-121634535.html

EXCLUSIVE POLICY Former Trump Official Targeted With Government Probe Vows to Fight Chris Krebs, the top cybersecurity official in Trump’s first term, resigned from his private-sector job By Josh Dawsey and Dustin Volz April 16, 2025 4:21 pm ET WSJ of course

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WASHINGTON—A former top Trump administration official targeted with a federal investigation by President Trump said he would fight back against what he called an unprecedented campaign by the government to punish dissent.

Chris Krebs, one of Trump’s top cybersecurity officials in his first term, will resign from a leading security firm to more freely challenge the White House, he said. He joins a small but growing list of universities and law firms seeking to push back on Trump’s efforts to use the office of the president to attack critics and opponents.

“It’s about the government pulling its levers to punish dissent, to go after corporate interests and corporate relationships. It’s the same thing we’ve seen with the law firms, they’ve gone after clearances, they’ve gone after contracts. It’s a novel and expansive strategy they are taking on and it should concern everyone,” Krebs said in his first interview since Trump issued a memo targeting him by name. The White House didn’t respond to requests for comment.

Krebs, who ran the Cybersecurity and Infrastructure Security Agency and was responsible for securing the 2020 election, drew Trump’s ire after publicly contradicting the president when Krebs stated the election wasn’t stolen. Krebs was fired by tweet in November 2020 after calling the election the most secure in history.

Last week, Trump signed a memo calling for his administration to investigate Krebs, and suspend any active security clearances held by Krebs and SentinelOne, the prominent cybersecurity firm where he worked. Trump instructed the Justice Department and the Homeland Security Department to submit a report with “recommendations for appropriate remedial or preventative actions.”

That same day, Trump also signed a memo targeting Miles Taylor, a former U.S. official who wrote an opinion column and book that were critical of Trump under the pen name “Anonymous.”

In the Oval Office last week, Trump called Krebs a “wiseguy” and mocked an appearance he had seen from Krebs on TV. “He came out right after the election, which was a rigged election, a badly rigged election…this guy Krebs was saying, ‘Oh, the election was great, it was great,’” Trump said before signing the order.

Trump has repeated his unsubstantiated claims of election fraud for years and made them a plank of his 2024 re-election campaign. Krebs said Wednesday he was resigning from his job at SentinelOne as chief intelligence and public policy officer so he could spend his time on a legal and public-relations battle against Trump without worrying about the firm’s business or contracts.

Krebs said he has been flooded with outreach from Democrats and Republicans alike who want to help him. He also said it was important for the company to not be weighed down by his standoff with Trump.

Cyber firms such as SentinelOne rely heavily on clearances to get contracts, as often information about foreign cyber threats is classified.

“For those who know me, you know I don’t shy away from tough fights,” Krebs wrote on Wednesday in an email to SentinelOne staff that was reviewed by The Wall Street Journal.

“But I also know this is one I need to take on fully—outside of SentinelOne.” In a statement to staff, SentinelOne Chief Executive Tomer Weingarten praised Krebs for his work.

“He carries our full respect with him as his journey continues,” Weingarten wrote. In an interview, Taylor said the memos targeting him and Krebs were “punishment for dissent” and that he too planned to fight back. He declined to say if he was planning a lawsuit.

“How we respond will set the tone inevitably for how others targeted by these EOs decide to respond,” Taylor said. “They will try to do this to other people. We know that with near certainty.”

https://archive.is/I85XZ

>>22923199

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Trump has unleashed a torrent of executive orders against his critics and perceived enemies, targeting law firms who have employed those who investigated him, universities viewed as liberal and an array of other institutions, including the Smithsonian Institution and dozens of former U.S. intelligence officials.

The orders have been regularly challenged in court. Institutions and individuals facing the orders have responded in different ways. Law firms have negotiated with Trump’s personal attorney and administration officials to change their hiring policies and collectively promise roughly $1 billion in pro-bono work for Trump-supported causes.

Some have hired lobbyists and sought to contribute to Trump’s political committees in hopes of seeking his favor. Others, such as Harvard University, have vowed in recent days to fight back against Trump.

Krebs said he understood why some have kept a low profile and tried not to further anger the president. But he said he disagreed with that approach. “I don’t think this lay-low-and-hope-this-blows-over approach is the right one for the moment we’re in,” he said.

The order targeting Krebs immediately upended his life. Krebs said he was sitting at home working at his desk when he received a flurry of texts last week that Trump was signing a memo criticizing him. He turned on the TV to see what was happening.

“My reaction was similar to 2020 when I got fired. I was such as, ‘What? No. That can’t be real.’ But here we are,” he said.

The last time he was sanctioned by a government, the former cybersecurity official said it was less surprising.

“I was sanctioned by the Russians and I’ve been effectively sanctioned by my own government as well,” he said. Krebs said he knew he had to resign from SentinelOne because the order would hurt the company’s business.

Krebs, a cybersecurity expert who worked in both the first Trump and George W. Bush administrations as well as at Microsoft, also said he knew he immediately needed to hire high-powered lawyers.

“It is effectively the executive branch’s bill of attainder,” he said. A bill of attainder imposes punishment on someone without a trial. They were banned under the Constitution amid American objections to British attainder laws.

On Wednesday, Krebs underscored that the 2020 election wasn’t stolen and those who believe otherwise should “ask the courts, ask the election professionals, ask the intelligence community.”

He expressed some astonishment that five years after he said the 2020 election wasn’t stolen, Trump remained focused on falsely saying he won and targeting him. “With all the problems we have in the world right now, with all the threats we’re facing, this is extremely counterproductive,” he said.

https://archive.is/I85XZ

>>22923199

This guy Krebs should know Trump wouldn’t write an EO unless he had absolute proof and he knows everyone involved. If he doesn’t he doesn’t see the Chess Board yet. Trump will drag out his last move, but all of them will be linked and exposed. He doesn’t do things for revenge, he does things for Justice.PDJT is a patient man, it might take 4 years to put the puzzle together, that he’s known for 4 yearsto drive them crazy