US Treasury Secretary Backs Using Financial Power as Foreign Policy Tool
GeopoliticsDigital Finance
US Treasury Secretary Scott Bessent said on Tuesday that the US government can use financial power as a foreign policy tool to advance the interests of allies and influence situations abroad, citing Argentina as a pilot country and acknowledging that the US is ready to use financial resources to steer foreign politics and economies. This comment reflects the Trump administration's approach of seeking to increase influence in Latin America, including the arrest of former Venezuelan leader Nicolás Maduro, which human rights groups view as imperialist. Bessent also mentioned the coordinated intervention in the yen market with Japan on July 31 and the use of tariffs as a foreign policy tool.
