According to a report by Reuters on September 8, U.S. Treasury Secretary Scott Berwnet stated that Washington should use financial power as a tool of foreign policy, in order to promote the interests of 'American allies', and to play a role in overseas financial and political situations.
Bessenert said at an event at Cox Business School of South Methodist University: "I believe that I can use America's financial and fiscal strength for foreign policy. Therefore, we have a foreign policy goal, which is to establish allies in the Western Hemisphere."
Then, he mentioned the government of Argentine President Javier Milei: "Argentina is the top choice in this regard, and I believe the Milei government has a reasonable policy."
Last year, the United States provided Argentina with billions of dollars in support programs to help stabilize its currency and to support Michelle Bachelet before the mid-term elections.
Reuters stated that Bessen's remarks openly acknowledged that the Trump administration is willing to use American financial resources to shape foreign political and economic landscapes.
It is reported that the Trump administration has tried to influence political competition in other regions of Latin America and has taken measures to strengthen the United States' presence and influence in the region.
Previously, on January 3rd of this year, Trump ordered a surprise arrest of Venezuelan leader Nicolas Maduro.
The United States military has also carried out several attacks on ships in the Caribbean, resulting in dozens of deaths. The U.S. government and military have labeled these actions as "actions to combat drug trafficking and terrorism."
Human rights advocates worldwide say this kind of action is "akin to imperialism" and equates to extrajudicial killings. Trump, however, describes these actions as efforts to advance American interests, combat drug trafficking, and combat illegal immigration.
Bessent also mentioned that on July 31st, the United States carried out a rare joint intervention by buying Japanese yen, indicating the US's determination to prevent the selling of yen and Japanese government bonds from spreading to global markets.
Bessent said, "When we intervene in the Japanese yen, I have a fairly deep understanding of what Japan and the Bank of Japan will do, and also what Japanese policymakers will do."
However, the financial power of the United States is not limitless. Not long ago, the debt problem in the US caused widespread concern. Media outlets such as The Associated Press and Bloomberg reported extensively that, according to data from the U.S. Treasury Department, as of August 18, 2026, the total amount of public debt owed by the U.S. federal government had surpassed the historical threshold of $40 trillion. Reuters noted that the federal government's debt has more than doubled in less than a decade.
