The World Closes In: Nations Rewrite the Rules of Economic Survival

WHAT HAPPENED

In a speech delivered in June 2026, commemorating the 250th anniversary of the US Declaration of Independence, US Treasury Secretary Scott Bessent announced a radical shift in American foreign economic policy. He explicitly rejected the long-established US commitments to free trade, the free movement of capital, and an open world economy, effectively declaring the end of the Washington Consensus. Bessent outlined a new **

Source referenced: FOREIGNPOLICY

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