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US President Donald Trump’s trade war with China and the rest of the world has exacerbated internal disagreements within his team. According to The Sunday Times, it was the disagreements between billionaire advisers that helped avoid the financial crisis and partially stop the radical tariffs, The Times reports.
The key figures in the struggle were Treasury Secretary Scott Bessent, a global trade advocate, and Trade Advisor Peter Navarro, a staunch protectionist. While Navarro demanded permanent tariffs to bring back American manufacturing, Bessent tried to convince Trump to smooth out the situation amid the collapse of markets.
He was helped in this by JPMorgan Chase CEO Jamie Dimon, who publicly warned of the threat of a recession in the US due to the tariff policy. Trump responded by announcing a 90-day pause on most tariffs for other countries, while increasing pressure on China.
According to the newspaper’s sources, Bessent managed to reach the president thanks to the support of Trump’s business leaders and allies in the team. However, the protectionist wing – led by Navarro and former strategist Steve Bannon – is not going to give up.
Navarro remains a fanatical supporter of the tariff war, considering it part of a larger conflict with China. Bannon bluntly stated that this is “not about trade, it’s about a war between superpowers”, and the MAGA movement should be ready for a new battle.
Despite the partial pause, the Trump administration continues to prepare dozens of trade agreements with various countries. And protectionists are already celebrating success, including the introduction of 145% tariffs on Chinese goods.
The internal struggle within Trump’s team is not just a difference in economic views. It is a battle for America’s strategic course for years to come: isolationism or global competition. And this struggle has the most difficult challenges ahead.
