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Treasury Secretary Scott Bessent denies that tariff pause is due to market declines

Treasury Secretary Scott Bessent denied the president’s move to implement a pause on his tariffs was the result of declines in the financial markets, which have been causing great concern for investors.
The comments came after the president issued a pause Wednesday for 75 different countries, which, according to the Trump administration, have shown a willingness to negotiate trade deals in good faith with the United States. Simultaneously, the Trump administration increased its tariff rates on Chinese goods to 125%, which came after China imposed tariffs of its own in response to Donald Trump’s «Liberation Day» tariff increase last week.
«This was driven by the president’s strategy. He and I had a long talk on Saturday and this was his strategy all along,» Bessent responded when asked if the tariff pause was the result of market declines. The Treasury Secretary also cited an «imbalance» in the responses from various countries, particularly China, in regard to their willingness to negotiate new trade deals.
TRUMP URGES AMERICANS TO ‘HANG TOUGH’ ON TARIFFS PLAN AS MARKETS TUMBLE
Treasury Secretary Scott Bessent denied that President Trump’s tariff pause was a reaction to the ongoing financial market declines, telling reporters Wednesday that the pause was part of Trump’s strategy all along. (GETTY IMAGES/FOX NEWS)
«It is just a processing problem,» Bessent said when asked if the market whiplash was a catalyst for the pause. «Each one of these solutions is going to be bespoke. It is going to take some time, and President Trump wants to be personally involved, so that’s why we are hitting the 90-day pause.»
Meanwhile, Bessent questioned claims from reporters that the bond market was «cratering» and said the information in front of him did not indicate as much. Trump, who also fielded questions Wednesday about the market volatility following his tariffs, similarly described the current bond market as «beautiful.»
«I saw last night where people were getting a little queasy,» Trump told reporters Wednesday about his view on the market declines in relation to his tariffs. «[Markets] went from, you know, pretty moderate today, but over the last few days, it looked pretty glum, to, I guess, they say it was the biggest day in financial history. That’s a pretty big change.»
«I think the word would be flexible,» Trump added. «You have to be flexible.»
WHITE HOUSE ADDRESSES RECESSION FEARS, CALLS MARKET VOLATILITY A ‘PERIOD OF TRANSITION’

A television broadcasts market news on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, April 4, 2025. The S&P 500 slumped 5.97% on Friday, closing out its worst week since Covid, as investors continued to pull away from US equities after China escalated the trade war by retaliating against President Donald Trump’s tariffs. (Michael Nagle/Bloomberg via Getty Images)
Stocks did jump back up on Tuesday before sliding back down once again before the markets closed that evening. However, on Wednesday, as Trump made his announcement about the tariff pauses, stocks rallied again, with the S&P 500 seeing its best day since 2008, according to Market Watch.
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Over the weekend, the president told Americans concerned about the ongoing market volatility to «hang tough,» adding that his plan is already working with trillions of dollars already being poured into the U.S. economy.
«HANG TOUGH, it won’t be easy, but the end result will be historic,» Trump wrote Saturday in a post on his social media platform Truth Social. «We will, MAKE AMERICA GREAT AGAIN!!!»
The White House declined to comment for this story.
Fox News’ Michael Dorgan contributed to this report.
Scott Bessent,Economy,Trade,Trade,Politics
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«La calle ardía de protestas y se escuchaban disparos», el enviado de Clarín en Irán hace 47 años en la caída del Sha
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Pope Leo picks new Vatican ambassador to US as Trump tensions mount over policies

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People Leo XIV on Saturday announced the appointment of the Vatican’s new ambassador, Apostolic Nuncio, to the U.S. to help manage strained relations with the Trump administration.
Italian Archbishop Gabriele Caccia, 68, a veteran Vatican diplomat who is currently ambassador to the United Nations, previously served as ambassador to the Philippines and Lebanon.
Caccia is replacing 80-year-old Cardinal Christophe Pierre, who is retiring.
«I receive this mission with both joy and a sense of trepidation,» Caccia said after the appointment, according to the Vatican News. He added that his mission was «at the service of communion and peace,» remembering that 2026 marks the 250th anniversary of the U.S.
People Leo XIV on Saturday announced the appointment of the Vatican’s new ambassador, Apostolic Nuncio, to the U.S. to help manage strained relations with the Trump administration. (Christopher Furlong/Getty Images; Anna Moneymaker/Getty Images)
The pope and President Donald Trump have been at odds over key issues for the White House, including immigration and the war in Iran.
Pierre’s ambassadorship was also at times at odds with the more conservative U.S. Conference of Catholic Bishops while representing Pope Francis’ more progressive priorities.
«Stability and peace are not built with mutual threats, nor with weapons, which sow destruction, pain, and death, but only through a reasonable, authentic, and responsible dialogue,» the American-born pope said on Sunday after the U.S. and Israel launched coordinated strikes on Iran, according to the outlet Chicago Catholic.
POPE LEO URGES DIALOGUE OVER MILITARY ACTION AFTER FAILED MADURO, TRUMP CALL
«Faced with the possibility of a tragedy of enormous proportions, I address to the parties involved a heartfelt appeal to assume the moral responsibility to stop the spiral of violence before it becomes an irreparable abyss,» he added.
In early January, Leo also delivered a major policy speech, mostly in English, that came on the heels of the U.S. military action in Venezuela.

Archbishop Gabriele Caccia has been appointed by the pope as the new Vatican ambassador to the U.S. (Lev Radin/Pacific Press/LightRocket via Getty Images)
«War is back in vogue and a zeal for war is spreading,» the pope warned in the speech.
Trump called it a «great honor for our country» when Leo was elected pope last May after Pope Francis’ death, and when asked about Leo’s remarks earlier this year seemingly pressing him on policy, Trump told Politico he hadn’t seen the statements from the pontiff, but «I’m sure he’s a lovely man.»
He also said that he had met with the pope’s brother, who he called «serious MAGA.»
Last fall, the pope suggested that supporting the «inhuman treatment of immigrants in the United States» is not «pro-life,» leaving White House press secretary Karoline Leavitt to «reject there was inhumane treatment of illegal immigrants in the United States under this administration.»

The pope and the Trump administration have been at odds over immigration and U.S. military actions. (Rocco Spaziani/Archivio Rocco Spaziani/Mondadori Portfolio via Getty Images)
Leavitt, who is Catholic, added that the administration always tries to be as humane as possible while enforcing laws.
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Archbishop Paul S. Coakley, current president of the U.S. conference, said after Caccia’s appointment: «On behalf of my brother bishops, I wish to extend our warmest welcome and our prayerful support to him as he carries out his responsibilities across the United States.»
Trump won 59% of the Catholic vote in the 2024 election, according to Politico.
The Associated Press contributed to this report.
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Noem thanks Trump for new Shield of the Americas special envoy role after DHS ouster

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During the Shield of the Americas summit in Florida on Saturday, outgoing Department of Homeland Security (DHS) Secretary Kristi Noem thanked President Donald Trump for appointing her to a newly created role after she was ousted from overseeing the agency.
Noem, who is moving to the newly created position of special envoy for the Shield of the Americas, showed no ill feelings toward the president and said she was proud of her work at DHS, arguing the department had secured the border and eliminated public safety threats.
«I do want to thank the president for creating this and for giving me the honor and the opportunity to serve as a special envoy to this region, to the Western Hemisphere,» Noem said during the summit at Trump National Doral outside Miami.
«This Shield of the Americas will be a powerful example to the rest of the world about what’s possible.»
Homeland Security Secretary Kristi Noem delivers remarks during a working lunch at the Shield of the Americas summit, Saturday, at Trump National Doral near Miami. (Rebecca Blackwell / Pool / AFP via Getty Images)
Trump announced this week that Noem would shift into the new role after cutting short her tenure at DHS.
Noem was removed as the nation’s immigration chief after a turbulent stretch marked by internal clashes and two contentious congressional hearings where even some Republicans pressed her over leadership missteps, including the ad campaign, which she claimed the president had signed off on.
Noem framed the initiative as an effort to expand border security cooperation beyond the United States.
«The way that we cooperate on our shared ideals of freedom and of democracy and safety and security will be a shining light to all of those who wish to be more like all of us,» she said.
WHAT’S NEXT FOR KRISTI NOEM? 2026 SENATE CHATTER GROWS AFTER DHS EXIT

Trump removed Noem as the nation’s DHS chief this week after a turbulent stretch. (Julia Demaree Nikhinson/AP Photo)
Noem, who previously served in Congress and as South Dakota governor before leading DHS, defended her record overseeing immigration enforcement during the past year.
«In the last year, as secretary of Homeland Security, we have focused on securing our border,» she said. «We have transformed our country from one that was being invaded by enemies, millions of them that were coming in unvetted, that we didn’t know who was there and who wished to harm us.»
«We’ve secured that border,» she continued. «We’ve focused on removing public safety threats, and over 3 million people have been deported or removed from our country in the last year.»
Noem argued that stronger border enforcement has allowed the administration to pivot toward economic and diplomatic engagement with neighboring nations.

DHS Secretary Kristi Noem testifies before the Senate Judiciary Committee on Capitol Hill. (Graeme Sloan/Getty Images)
«Secure borders has changed everything for our country,» she said. «Now that America is secure and our borders are secure, we want to focus on our neighbors and to help our neighbors with their borders and challenges that they have so that they may have the security that we enjoy.»
Trump announced on Truth Social that Sen. Markwayne Mullin, R-Okla., will replace her effective March 31, while Noem shifts to the newly created envoy role.
Members of Trump’s Cabinet, including Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Secretary of Commerce Howard Lutnick and United States Trade Representative Jamieson Greer attended Saturday’s summit.
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Leaders from other nations included Argentina’s Javier Milei, El Salvador’s Nayib Bukele Ortez, Bolivia’s Rodrigo Paz Pereira, Costa Rica’s Rodrigo Chaves Robles, Panama’s José Raúl Mulino Quintero, and Trinidad and Tobago’s Kamla Persad-Bissessar, Chile’s Jose Antonio Kast, the Dominican Republic’s Luis Rodolfo Abinader Corona, Ecuador’s Daniel Roy Gilchrist Noboa Azín, Guyana’s Mohamed Irfaan Ali, Honduras’ Nasry «Tito» Asfura and Paraguay’s Santiago Peña.
Notably missing were the leaders of Venezuela, Delcy Rodríguez, and Mexico, Claudia Sheinbaum Pardo.
Fox News Digital’s Alec Schemmel contributed to this report.
kristi noem,donald trump,homeland security,politics,americas
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