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Scott Bessent Has 'Worst Job In The World Today,' Says Black Swan Author Nassim Taleb, As Treasury Secretary Knows The Implications Of Steep Tariffs

‘Black Swan’ author Nassim Nicholas Taleb has said that the Treasury Secretary, Scott Bessent, has the worst job in the world today because he understands the relevancy and implications of tariffs more than anyone else.

What Happened: According to his X post, Taleb has pointed out that the Treasury Secretary, Bessent, comprehends the relevance of the protectionist policies being imposed by the current administration, led by President Donald Trump.

Additionally, he says that any abrupt introduction of steep tariffs could lead to a cascading and generalised price action.

In general, trade barriers like import quotas or tariffs have both advantages and disadvantages. From a Keynesian perspective, tariffs can boost domestic production and employment by shifting demand towards domestically produced goods, potentially leading to a reduction in the trade deficit.

However, it could be driven by political opportunism, undermine free trade principles, fuel ...