Bloomberg – Treasury secretary, Scott Besent, described the United States as the “main destination” for global capital and argued that the Trump administration policies will consolidate that position.
“The United States is the main destination of international capital”, Besent said in a speech prepared for the Global Conference of the Milken Institute held on Monday at Beverly Hills.
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The commercial, tax and deregulation agenda of President Donald Trump “points towards the same goal: to consolidate our position as a home of global capital.”
Concerns about the international attraction of assets called dollars materialized last month during a massive sale of US shares after the Trump announcement of reciprocal tariffs to their main commercial partners. Contrary to the usual, American treasure bonds also collapsedwithout fulfilling the role of shelter asset they had played in the past. The dollar also backed away.
Besent’s predecessor, Janet Yellen, had affirmed that this pattern suggested a worrying “loss of confidence in American economic policy.”
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Besent said that Trump’s policies are “interconnected parts of an engine” that will boost long -term investment in the United States. He also reiterated that the objective of commercial policy is to “match conditions” for US workers and companies.
Both “Main Street” and “Wall Street” can prosper with Trump’s policieshe said. Last month, at a meeting of financial professionals in Washington, Besent had stressed that “it was Main Street’s turn.”
Read more at Bloomberg.com
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