Politico reports:
President Donald Trump this week upended not just his tariff strategy but his trade team. Former hedge fund manager and Treasury Secretary Scott Bessent — the White House’s main conduit to beleaguered financial markets — is now at the helm, with populist Peter Navarro relegated to the sidelines and Wall Street punching bag Howard Lutnick recast into the role of “bad cop,” according to three people close to the White House, granted anonymity to speak frankly about internal dynamics.
The diminished roles of Lutnick, the Commerce secretary who for weeks had been the administration’s point person for foreign leaders on tariffs, and Navarro, Trump’s trade adviser, reflect this week’s turmoil over Trump’s trade policy and a shift toward the “fair trade” policies Bessent has been advocating. One of the people, who is close to both Trump and Navarro, said the trade hawk still has the ear of the president, adding that Trump respects Navarro’s aggressive populism.
Read the full article.
NEW: Trump is shaking up not only his trade agenda — but his trade team.
Bessent leading, w/ Lutnick still involved but now “bad cop” and Navarro sidelined, three people close to the WH tell me and @_AriHawkins. https://t.co/UHVrmER4s5
— Megan Messerly (@meganmesserly) April 10, 2025