Trump's economic team may get easy Senate rides. That could push clarity on policy into 2025.

Published On Dec 7, 2024, 9:00 AM

President-elect Trump's economic team is making smooth progress in their Senate confirmation process, particularly Scott Bessent (nominated for Treasury) and Paul Atkins (nominated for SEC chair). This contrasts sharply with some of Trump's other controversial nominees. While it appears that Bessent may offer a moderating voice on tariffs towards China, the overall economic strategy, especially concerning China, remains uncertain. Delays in clarity on economic policies may affect investor sentiment into 2025, as the team includes several figures with hardline stances on trade with China.

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The confirmation of Scott Bessent and Paul Atkins could signal a more stable economic policy framework that investors might find reassuring, particularly if it reduces uncertainties related to tariffs and trade. However, ongoing tensions with China and hawkish attitudes may deter investment in specific sectors.

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