Treasury Secretary Scott Bessent criticized Sen. Elizabeth Warren (D-Mass.), accusing her of partisanship that is harming the American economy and undermining the “golden age” being ushered in by President Donald Trump.
Warren Accused of Sabotaging FDI
On Thursday, in a post on X, Bessent slammed Warren after reports surfaced that the Massachusetts Democrat had sent a letter to Swiss banking giant UBS Group AG (NYSE:UBS) requesting information on any discussions it might have had with him.
The letter, addressed to UBS Chairman Colm Kelleher, requests a summary of its interactions with Trump administration officials regarding the bank’s potential relocation of its headquarters to the U.S., along with details of any incentives that may have been offered, according to a Reuters report.
Bessent argued that Warren's “partisanship” was actively damaging the U.S. economy by “discouraging foreign direct investment” from global firms, he said were eager to back Trump's “Golden Age.”
Calling her “our very own American Chavista,” Bessent suggested that it was no surprise that foreign direct investment in 2024 under President Joe Biden's administration stood at just $350 billion.
Neither UBS nor Senator Warren immediately responded to Benzinga’s request for a comment on this matter. This story will be updated as soon as we receive a response.
Trump Officials Tout Record FDIs
In recent months, several Trump administration officials have touted record-high foreign direct investments, with Trump himself making claims of $17 trillion in new investments flowing into the U.S. over the next year.
Bessent has said that he believes Trump’s claims “are real,” noting that the mix of corporate and international plans are driving the totals to levels “like we’ve never seen,” while contrasting these figures with those under the Biden administration, which he said was at $1 trillion “over a four-year period.”
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