Bessent: Japan's Intervention Will Address Yen Undervaluation, Strait of Hormuz to Be Bypassed
US Treasury Secretary Bessent has been making headlines recently for her statements on various global issues. In an interview, she expressed strong support for Japan's decision to intervene in the foreign exchange market and address the undervaluation of the yen.
Bessent emphasized that the US does not want to pull apart from China, but rather de-risk its trade relationship with the country. She also predicted that the Strait of Hormuz will be bypassed in two years due to the increasing use of land pipelines for oil transportation.
Regarding Iran sanctions, Bessent stated that a combination of economic sanctions and a blockade would work effectively in pressure-cooking the Iranian regime into compliance. She mentioned that 85-90% of Iran's factories have the ability to rebuild, implying that the country could recover quickly from any economic disruption.