Part 3/10:
Divine pointed out the importance of Alexander Hamilton, the first Treasury Secretary, in shaping the U.S. financial system. Bessant emphasized that Hamilton laid the groundwork for a central bank, tariffs, and a structured financial system. Drawing parallels, he discussed how President Trump has introduced a third purpose for tariffs—using them as negotiation tools. Bessant reflected on Trump's recent proposed tariffs on the European Union and the pressures it put on European leaders to engage in negotiations. Such strategies focus on protecting U.S. industries while bringing in revenue.