Several Wall Street executives have written to the U.S. Treasury Secretary, urging a revision of the tariff policies from the Trump era

ChainCatcher news, according to Bloomberg, during this week's stock market crash, U.S. Treasury Secretary and former hedge fund executive Scott Basset received a steady stream of text messages from Wall Street executives. Several hedge fund managers and financial executives hoped he could persuade Trump to withdraw the tariff policy, as he previously served as Chief Investment Officer at Soros Fund Management and is seen as a potential "market-oriented" ally.

However, sources revealed that Basset is not the architect of the tariff policy; he is more involved in analyzing the impact of different tariff levels on the market and the economy during White House meetings. The policy was ultimately crafted by a small group within Trump's inner circle, with many key decisions finalized at the last moment.

Currently, Trump's push for "Made in America" economic policies is clashing with Wall Street interests that have long relied on global trade, and even some Republican lawmakers have begun to issue warnings about the tariff policy.