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CBS: U.S. Treasury Secretary and Trump Once Had Heated Debate on Tariff Policy

2025.04.16 12:40:33

On April 16th, CBS News, citing multiple sources, stated that although the White House has been attempting to claim that Trump administration officials have been unified on U.S. tariff policy, internal differences over the policy had emerged weeks prior to Trump signing the so-called "reciprocal tariff" executive order on April 2nd. A senior Trump adviser was reported to have warned in private conversations that some tariff proposals could have a catastrophic impact on global financial markets and send the U.S. economy into a downward spiral. CBS reported that U.S. Treasury Secretary Scott Bennett and Trump's trade and manufacturing policy adviser Peter Navarro had a confrontation in late March in the office of White House Chief of Staff Susan Wells. According to multiple sources, Navarro advocated for a uniform 25% tariff on $3 trillion worth of imported goods, while Bennett, a former Wall Street investor, warned that this move would trigger market turmoil and outlined various risk scenarios. The report said that there was constantly heated rhetoric being exchanged.
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Bitunix Analyst: Hormuz Strait Shipping Crisis Spills Over to Industrial Metals, Risk-off Sentiment Rises, BTC Reclaims $71,300 Level

**March 16: Middle East Tensions Escalate** U.S. forces conducted military strikes on Iranian energy facilities and plans to launch tanker escorts in the Strait of Hormuz. Iran has signaled the conflict could drag on, warning it will retaliate against U.S. regional targets if its energy infrastructure is hit. Maritime risks have spooked shipping traffic through the Strait of Hormuz, driving a sharp drop in transit volumes. Global energy and supply chain stability concerns have intensified rapidly. **Conflict Spillovers Hit Metals; IEA Eyes Reserve Releases** The crisis has spilled over from energy to industrial metals: one of the world’s largest independent aluminum smelters cut output by ~20% due to disrupted raw material supplies, pressuring Gulf region aluminum supply chains. The International Energy Agency (IEA) announced plans to tap strategic crude reserves for the Asian market to ease short-term supply disruptions. If Hormuz shipping restrictions persist, knock-on e

6 minutes ago

Trump on "Tariffs Being Illegal": The most important decision is tariffs, and we have the absolute right to tax in a different form

On March 16, former President Donald Trump stated that tariffs were his top decision priority, noting the Supreme Court knew his stance on securing a win for the U.S.—but that the court’s ruling could hand trillions to countries and companies that had exploited the U.S. for decades. The high court’s decision pleased those nations, he added, yet the court itself had acknowledged he retained absolute authority to impose tariffs in another form, and he had already begun doing so. This follows the U.S. Supreme Court’s February 20 ruling that Trump’s trade tariff policy was illegal.

6 minutes ago

The ETH Spot/Futures Trading Volume Ratio on Binance has dropped to its lowest level since 2023

March 16: Per crypto analyst Darkfost, open interest for ETH contracts on Binance has dropped sharply—falling by roughly 400,000 ETH since January. Meanwhile, Binance’s ETH spot-to-futures trading ratio has tumbled to its lowest level since 2023, the year the bear market concluded. Still, Binance’s current ETH futures trading volume remains over six times that of spot trading. This underscores the current weakness in Ethereum’s spot market, where even selling by the Ethereum Foundation and Vitalik Buterin could stoke investor caution.

6 minutes ago

Bithumb Faces Special Act on Reporting and Using Specified Financial Transaction Information Violation Sanctions Review, Fine Amount May Exceed Upbit's 35.2 Billion KRW

**March 16 – South Korea’s Financial Intelligence Unit (FIU) will convene a sanctions review committee today to assess penalties for crypto exchange Bithumb over anti-money laundering (AML) violations under the Specific Financial Information Act.** The FIU previously issued a pre-notice to Bithumb outlining a proposed 6-month partial business suspension and a warning to its representative director—stricter than the 3-month partial suspension imposed on rival Upbit. Bithumb has more transactions with unregistered overseas exchanges than Upbit, a key metric for determining sanction severity. Upbit was fined 35.2 billion South Korean won and hit with a 3-month partial shutdown for 44,948 such transactions; Korbit, with just 19 related transactions, received a 2.7 billion won fine and an institutional warning. Market watchers expect Bithumb’s fine could exceed 37 billion won. A South Korean Financial Services Commission (FSC) official noted the exchange’s specific sanctions are no

6 minutes ago

Caixin: China's Digital Currency DCEP Operations and Management Center Exposes Three Scams Including "Brushing Rebate"

On March 16, Caixin reported that China’s official Digital Currency Operations and Management Center has flagged three common scam schemes targeting the Digital RMB: - **Scheme 1: Pyramid fraud disguised as "digital currency promotion"** The Digital RMB has never run activities like "recruiting promoters," "promoter exams," "QR code downloads," or "downline recruitment"—nor has it charged a 400-yuan equipment installation fee. Anyone recruiting "community promoters" via chat groups, offline/online meetings is scamming. - **Scheme 2: Fake "order rebate" transfer scams** Scammers lure victims into sending funds by promising rebates for placing orders. - **Scheme 3: Counterfeit app theft** Fraudsters trick users into downloading fake apps to steal personal information or funds.

6 minutes ago

The "Heavyweight in Three Major Markets" Whale Closed Out Oil Short Position with Profit-Taking, Keeping $48 Million in BTC and Nasdaq Holdings

March 16th — Per HyperInsight monitoring (via t.me/HyperInsight), the address 0x8af7... (labeled "Heavy Positioning in Three Major Markets") has executed concentrated profit-taking on its CL (WTI Crude Oil) short position over the past 4 hours. Key details: - Reduced 51,025 contracts (~$5.05 million) - Recorded profit of ~$473,000 Post-reduction update: - CL short position now ~$250,000 (average entry price: $106.28) - Position nearly fully cleared; commodity sector holdings are essentially closed out Current holdings: - Remaining positions focused on crypto and U.S. stocks - Total ~$48 million in BTC and NDX100 (XYZ100) long/short positions Background: - Previously, this address earned over $50 million in total profits from altcoin short positions across the market cycle - Over the past month, it deployed more than $50 million into commodities, crypto, and U.S. stock markets, frequently hedging profits

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