Bloomberg News reported on the 5th that after U.S. President Donald Trump's announcement of reciprocal tariffs, senior executives at Wall Street financial firms asked Treasury Secretary Scott Vissent to actively persuade President Trump. However, as evaluations emerged that Secretary Vissent was excluded from the tariff policy establishment process, Wall Street was left in shock, the report stated.
According to a report from Bloomberg News citing sources, after President Trump announced the imposition of reciprocal tariffs, senior executives from Wall Street flooded Secretary Vissent's cellphone with text messages as the financial market plunged into severe shock the following day. These individuals asked for help in actively persuading President Trump regarding the tariff issue, sources noted.
Secretary Vissent is a financial expert who founded the hedge fund "Kisquare Group" after serving as the Chief Investment Officer (CIO) of a fund managed by George Soros. Consequently, Wall Street has seen him as a person who could effectively explain to President Trump the concerns that extreme tariff imposition would hurt the economy and cause market disruption.
However, contrary to Wall Street's expectations, Secretary Vissent was not a major leader in the establishment process of the reciprocal tariff policy, and sources explained that his role was limited to analyzing and explaining scenarios related to the tariff imposition. Key figures on Wall Street publicly criticized prior to the tariff announcement, and some unofficially asked Secretary Vissent for help, but such voices did not reach the policymaking site.
Meanwhile, sources reported that Peter Navarro, a White House advisor on trade and manufacturing, and Commerce Secretary Howard Rutnik played a key "tariff strategist" role for President Trump.
Amid this, reports have also emerged that Secretary Vissent is considering resigning. Isolated in the Trump administration's economic policy establishment process, Secretary Vissent is said to be seeking an exit strategy through entities such as the Federal Reserve (Fed).