Concerns about the international appeal of dollar-based assets materialised last month during a selloff in US stocks in the wake of Trump’s announcement of steep reciprocal tariffs on major trading partners. Contrary to typical practice, US Treasuries also tumbled — failing to play the haven asset role it has in the past. The dollar also retreated.
Treasury Secretary Scott Bessent touted the US as the “premier destination” for global capital and argued that the Trump administration’s policies will solidify that position — countering the so-called sell America theme that materialised last month.
“The United States is the premier destination for international capital,” Bessent said in speech at the Milken Institute Global Conference in Beverly Hills, California, Monday. President Donald Trump’s trade, tax and deregulation agenda “push toward the same goal — to solidify our position as the home of global capital.”
