Donald Trump’s Treasury secretary Scott Bessent is pushing for new universal tariffs on US imports to start at 2.5 per cent and rise gradually, said four people familiar with the proposal.

Scott Bessent has been confirmed as US Treasury Secretary, advocating for universal tariffs starting at 2.5%. He aims to eliminate taxes, implement a consumption tax, and adopt a gold-backed currency,

Scott Bessent will lead President Donald Trump's financial agenda as treasury secretary. Bessent, a billionaire hedge fund manager, was confirmed in a 68 to 29 U.S. Senate vote on Monday and sworn in on Tuesday.

Newly confirmed U.S. Treasury Secretary Scott Bessent is advocating a plan to impose universal tariffs on imports, according to the Financial Times. The proposal suggests starting tariffs at 2.5%, increasing by 2.

The first openly gay person in the role has the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth.

Donald Trump's pick for Treasury secretary repeatedly defended a range of tariff ideas during his confirmation hearing before Senate lawmakers Thursday.

President Donald Trump's Treasury secretary pick, Scott Bessent, pushes for new tariffs and warns of a 'calamity' if tax cuts expire. Confirmed by the Senate, Bessent emphasizes reducing taxes, increasing oil production to control prices,