Trump Team Considering Kyle Bass for a Treasury or Defense Role

(Bloomberg) -- The Trump administration is considering hedge fund veteran and China hawk Kyle Bass for a post at either the Treasury or Defense Department, according to people familiar with the matter.

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Bass has been in talks with President Donald Trump’s team since December about joining the administration, and multiple White House officials are impressed with his background and views, the people said.

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Bass has ties with the incoming administration, having known Scott Bessent — who is awaiting confirmation to become Treasury secretary — for many years, he said on Bloomberg TV in November. Bass also appeared on air to publicly support Bessent’s candidacy to run the Treasury when a fight over the job spilled into public view.

While Bass has the kind of background, as a long-time investor with markets expertise, that’s often desired for roles in the Treasury’s domestic finance unit, he’d more likely be placed in the international affairs office if he heads to that department rather than Defense, people familiar with the matter said.

The Trump team has yet to announce an undersecretary to oversee the Treasury’s international unit, which is in charge of currency policy and international finance, along with being the home of Committee on Foreign Investment in the US. Known as CFIUS, the multi-agency panel reviews foreign investments for national security risk.

A White House spokesperson didn’t reply to a request for comment. Bass declined to comment.

‘Fool’s Errand’

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Since Trump’s November presidential victory, Bass has been a vocal proponent of Trump’s choice of officials with strong anti-China views, like Secretary of State Marco Rubio and National Security Adviser Mike Waltz.

A Dallas-based investor, Bass started Hayman Capital in 2005 with $33 million and made his name by betting against subprime mortgages before the US housing collapse over a decade ago. He has a history of holding a bearish view on China’s markets and economy, and says China poses an enormous threat to American security.

“Xi Jinping has been telling you what he’s going to do since 2017 in every public speech, every public appearance he’s made,” Bass said on Bloomberg TV after Trump’s election. Investing in China is “a fool’s errand” and “a horrible idea going forward.”

--With assistance from Skylar Woodhouse.

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