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White House Tariff Team Power Reshuffle Spot Market Sees Demand for Restocking at Lows [SMM Tin Morning News] The White House tariff team underwent a power reshuffle, with the hawkish camp's Commerce Secretary and trade advisor being marginalized. US Treasury Secretary Bessent now controls the overall trade situation. Meanwhile, trade advisor and populist Navarro was marginalized, while the Wall Street "whipping boy" Commerce Secretary Lutnick was once again seen as the "bad cop" (a tough, hardline role). This reflects the turmoil surrounding Trump's trade policy this week and the shift towards the "fair trade" that Bessent has long advocated. A person close to Trump and Navarro said that this trade hawk can still influence the president. Trump respects Navarro's radical populist ideas, but that does not mean he is at the core. Another person said that the White House believes it can use Lutnick's difficult personality to play a role in negotiations. This role change occurred during a tug-of-war between the fair trade camp and the protectionist camp within the White House. A former Trump administration official said, "Trump likes to create chaos first, then calm down, then create chaos again, and then restore calm, just to keep people guessing." This state also exists in Trump's inner circle, with various forces constantly moving in and out of the sphere of influence. Although the internal struggles common in Trump's first term have largely disappeared in his second term, the status changes in the leadership of tariff policy remind people that the competition for power and influence is not over. Spot Market: SHFE tin prices were flat during the night session yesterday.