Donald Trump has nominated Scott Bessent to serve as the next Secretary of the U.S. Treasury, a key position overseeing tax policy, public debt management, international finance, and economic sanctions.
The announcement concludes one of the lengthiest deliberations in Trump’s efforts to finalize his cabinet as he prepares for his second term in office.
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Bessent, a seasoned Wall Street financier with previous ties to George Soros, was an early supporter of Trump’s 2024 campaign. His nomination brings a conventional background to the role, signaling a pragmatic approach to the position.
The 62-year-old’s selection, revealed on Friday evening, marks the start of a flurry of cabinet and White House appointments, rounding out much of Trump’s senior team as he gears up for his return to the presidency in January.
“Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists,” Trump said in his announcement on Truth Social.
“[He] has long been a strong advocate of the America First Agenda,” he said, adding that Bessent would “support my Policies that will drive US Competitiveness, and stop unfair Trade imbalances.”
On the campaign trail, Bessent told voters that Trump would usher in a “new golden age with de-regulation, low-cost energy, [and] low taxes”.
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