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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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Tehran, the capital of Iran, is attacked with a downtown explosion.

March 2, local time — Tehran, Iran’s capital, came under attack with multiple explosions rocking several areas including the city center. Blasts were reported in Tajrish, Ferdowsi Square, the area housing the Iranian Foreign Ministry’s police unit, and other locations. The Israel Defense Forces (IDF) later confirmed its air force had launched a new round of “large-scale” airstrikes against Iranian targets in Tehran that day.

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CoinShares: Digital Asset Products Saw $1 Billion in Inflows Last Week, Ending 5 Consecutive Weeks of Outflows

March 2 — Digital asset products saw $1 billion in inflows last week, ending a five-week streak of $4 billion in outflows, according to a CoinShares report. Market sentiment was buoyed by price weakness, a technical reset, and support from whale accumulation. From a macro standpoint, no single catalyst drove the sentiment shift, but prior price declines, breaks below key technical levels, and renewed accumulation by large Bitcoin holders appear to have fueled the reversal. More specifically, recent client discussions have centered almost entirely on identifying entry points rather than cutting exposure to the asset class. Bitcoin was the top beneficiary, posting $881 million in inflows — though Bitcoin bear products also saw $3.7 million in inflows, underscoring ongoing divergence in market views. Ethereum recorded $117 million in inflows, its largest weekly haul since mid-January. Both Bitcoin and Ethereum remain in net outflow territory year-to-date. Solana added $53.8 mi

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War Pushes Expectations of Rate Cuts Up Sharply, Likelihood of Fed Cutting Rates 3 Times in 2026 Falls to 20%

On March 2, Middle East tensions pushed oil prices higher and stoked inflation fears, prompting currency markets in the U.S., U.K. and Eurozone to scale back bets on interest rate cuts. Per swaps linked to policy meeting dates: - The Federal Reserve’s likelihood of cutting rates three times in 2026 fell from nearly 50% last week to 20%. - Traders no longer expect the Bank of England to deliver three rate cuts this year; the probability of a March cut dropped from over 80% to 60%. - Odds of the European Central Bank cutting rates this year were halved, with markets pricing in just 5 basis points of easing.

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European and US Stock Futures Down Pre-market, Market Currently Flooded with Bearish Sentiment

March 2nd: Amid geopolitical turmoil, European stocks opened sharply lower and traded poorly midday, while U.S. stock pre-market sessions saw declines across the three major indexes. Mainstream centralized (CEX) and decentralized (DEX) exchange funding rates now signal a market-wide shift back to bearish sentiment—after a rebound to neutral on Sunday. Specific funding rates for key cryptocurrencies are in the attached chart. **BlockBeats Note:** Funding rates are fees set by crypto exchanges to align perpetual contract prices with underlying asset prices. They facilitate fund transfers between long and short traders (exchanges do not collect these fees) and adjust traders’ holding costs or profits to keep contract prices close to the underlying asset’s value. **Funding Rate Guidelines:** - 0.01% = baseline rate - Above 0.01% = broad bullish sentiment - Below 0.005% = broad bearish sentiment

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International Atomic Energy Agency: Iran's Nuclear Facilities Unaffected by Attack

On March 2nd, IAEA Director General Rafael Grossi stated that Iran’s nuclear facilities were largely unaffected by the attack, with no signs indicating the sites were targeted. (Golden Ten)

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Three US F-15E Fighter Jets Destroyed in Friendly Fire Attack

U.S. Central Command (CENTCOM) confirmed on March 2 that three U.S. F-15E fighter jets were mistakenly shot down by Kuwaiti air defense forces amid intense combat, resulting in the loss of all three aircraft.

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