Look, I’ve been warning you folks for a while now – this Trump tariff game is a disaster waiting to happen, and it’s starting to unravel even within the administration itself! According to NBC’s Stephanie Ruhle, Treasury Secretary Scott Basnett is reportedly on the verge of resigning because he just can’t stomach Trump’s utterly ridiculous “tit-for-tat” tariff policy.
Ruhle, on Morning Joe, laid it out: sources say Basnett has always been an outlier within the Trump circle, completely sidelined and ignored. Apparently, Trump doesn’t give a damn about what Basnett thinks, and that’s a PROBLEM when you’re dealing with the freaking global economy!
This isn’t just about policy disagreements, folks. Ruhle claims Basnett is actively looking for an exit strategy, even sniffing around for a spot at the Federal Reserve. Why? Because he’s watching his reputation – and his career – go down the drain, all thanks to Trump’s reckless trade war. He’s realizing playing this game destroys any lasting credibility.
Let’s break down what’s happening here. It’s about more than tariffs.
Tariffs are taxes imposed on imported goods. They’re intended to protect domestic industries, but can lead to higher prices for consumers and retaliatory measures.
A ‘tit-for-tat’ tariff strategy, meaning retaliating in kind, escalates trade tensions. This creates uncertainty and can harm global economic growth.
Treasury secretaries play a vital role in shaping economic policy. Their credibility is essential for maintaining market confidence.
A loss of trust in the Treasury Secretary’s views – or departure of a Secretary due to policy disputes – signals instability and can spook investors. To put it bluntly, it’s a mess!
Basnett hasn’t commented yet, probably because he’s busy polishing his resume. But make no mistake, this is a massive indictment of Trump’s economic policies and a sign of things to come. Buckle up, folks, it’s going to be a bumpy ride.
